Welcome to the first round-up of major developments in cryptocurrency, non-fungible tokens (NFTs), blockchain, decentralised finance, and the metaverse.
The UKISS team is committed to helping you get on board the Web 3.0 train safely, and one way to do that is by letting you catch up on industry news with as little time as possible.
Here are this week’s highlights:
Volkswagen Malaysia is the next major brand to jump on the non-fungible token trend after unveiling a digital art collection inspired by the company’s Arteon R-Line model.
The Malaysian arm of the German carmaker collaborated with local artists Syed Muhammad and Jason Choo to produce four different works currently on sale via the Binance blockchain.
Syed reimagined the vehicle through textures that emulated the ebb and flow of waves while Jason’s mesmerising and futuristic art looked like a scene out of the Blade Runner cult classic.
The Accelerated Futurescapes project presents “an otherworldly take” on the Arteon R-Line, Volkswagen Malaysia said. Each NFT art costs 2.5 BNB (about US$1,300).
Binance invests in WOO Network
Just months after closing a US$30 million series A funding, liquidity platform WOO Network raised another US$12 million from the investment arm of the world’s largest crypto exchange, Binance.
WOO Network last year provided liquidity to the Binance Smart Chain with the launch of WOOFi Swap. It currently offers liquidity to over 40 institutions, exchanges, trading teams, wallets, and decentralised applications.
“WOO Network adds significant value to the crypto ecosystem by providing deep liquidity and zero-fee trading both on- and off-chain,” said Peter Huo, Binance Labs’ investment director, in a press release. Following the announcement, the price of WOO tokens went up 10%, according to CoinGecko.
NFTs and metaverse conquer CES tech fest
It’s all about NFTs and the metaverse at this year’s Consumer Electronics Show. Among the biggest announcements to come out of the major tech festival was South Korean electronics company Samsung unveiling plans to make Smart TVs that allow users to flex their NFT art.
Meanwhile, semiconductor firm Qualcomm revealed that it was working with tech company Microsoft to develop chips that could control lightweight augmented reality glasses for consumers to use with metaverse applications. The chips will pair with a software for developers to create virtual worlds, according to Qualcomm chief executive Cristiano Amon.
That’s all for this week, folks.
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