The Metaverse Daily for July 6, 2022

The Trust Project is a worldwide group of news organizations working to establish transparency standards.

Here’s the overview of the most important news from the last 24 hours.

  • Let’s have a look at some DeFi data. The price of the Metaverse Index has dropped a bit since yesterday, now trading at $36.76. Meanwhile, the Bluechip NFT has plummeted, now trading at 21.91 ETH, losing nearly a third of its price overnight. With crypto winter raging on, OpenSea sales are also constantly dropping.
  • Cryptocurrencies are still unstable, with prices constantly going up and down. Overnight, bitcoin’s price jumped by $2,600, but it then plummeted again, and it’s now trading at $20,135.48. Decentraland’s MANA took over Flow’s position as cryptocurrency #1 among the metaverse cryptocurrencies by market cap.
  • RTFKT Studios releases new utilities for Clone X NFT owners. On July 5, holders received full commercial rights to the avatars—they could access 3D files online and use avatars to mint fanart NFTs, issue merchandise, and generally make a profit.
  • Despite China’s stance on cryptocurrencies, China’s Tencent is experimenting with NFTs. China’s largest tech brands Tencent, Ant Group, and Alibaba pledged to ban cryptos, but NFTs, or as the Chinese call them, digital collectibles, are considered “digital cultural creativity.”
  • Ethereum postpones the merger between consensus-level Beacon Chain and execution-level Mainnet until the fall. Officially, developers delayed Ethereum’s built-in “difficulty bomb,” which was created to avoid the Ethereum blockchain’s split.
  • Decentraland announces a partnership with pre-licensed music platform Lickd who will be responsible for creating soundtracks for Vegas City. Additionally, companies created curated playlists and radio channels.

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Any data, text, or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

Karolina Gaszcz

Karolina is a writer and journalist with a background in literary studies. She loves exciting tech solutions and art, and NFTs are often a perfect amalgamation of the two. Outside of work, she’s a plant mom, a vintage fashion enthusiast, and a gamer.

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