Cryptonomics – your weekly Crypto, NFT & Metaverse readings 📰

15th November – 21st November 2021

Hi guys, 

This is Rizvi, entrepreneur and crypto enthusiast based in Zurich, Switzerland. Every week, I’ll share with you some of my weekly readings and thoughts around crypto and blockchain topics, from market insights to trading activities. Feedback is more than welcome!

If you like this newsletter, make sure to subscribe to my Substack Newsletter at the bottom! 

🪙 Crypto Market News

Iconic L.A. stadium is renamed Crypto.‌com Arena. Crypto.com will replace Staples as the title sponsor of downtown Los Angeles’s iconic arena, the most recent high-profile sponsorship move by the Singapore-based cryptocurrency exchange. Owned and operated by Anschutz Entertainment Group, the venue will unveil its new name on Christmas day during a Los Angeles Lakers home game, according to a statement from the company. 📰 Bloomberg

Crypto Venture firm Paradigm announces $2.5B Fund, Industry’s largest. Paradigm, the venture firm launched by Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huang, now has $2.5 billion for placing bets on the next generation of leading crypto projects. Paradigm announced Monday the completion of its fundraising efforts. CoinDesk reported in October that the firm was raising around $1.5 billion, according to investor documents seen at the time. 📰 Coindesk

DAO raises over $40 million to bid on the U.S. Constitution. The document is expected to sell at Sotheby’s for as high as $20 million, what would seem to be an insurmountable price for a crowdfunding initiative. And yet, somehow, the collective has raised $27 million to date. And they still have more than 24 hours to go. 📰 The Verge

Brave browser launches a built-in crypto wallet. Brave Wallet allows for token purchases through Wyre, tracks portfolio performance, swaps a wide range of tokens and stores non-fungible tokens (NFT). It is self-custody, meaning wallet users hold their private keys. It supports all Ethereum Virtual Machine-compatible tokens, Brave said. 📰 Coindesk

Square releases white paper detailing protocol for a decentralized Bitcoin exchange. The tbDEX protocol facilitates decentralized networks of exchange between assets by providing a framework for establishing social trust, utilizing decentralized identity (DID) and verifiable credentials (VCs) to establish the provenance of identity in the real world. 📰 Coindesk

🖼️ NFT & Metaverse News

Barbados to becoming first sovereign Nation with an embassy in the metaverse. In what could be seen as a historic step toward the legitimization of the metaverse, the island nation of Barbados is preparing to legally declare digital real estate sovereign land with the establishment of a metaverse embassy. The Barbadian Ministry of Foreign Affairs and Foreign Trade signed an agreement on Sunday with Decentraland, among the largest and most popular crypto-powered digital worlds, for the establishment of a digital embassy.📰 Coindesk

TIME Magazine partners with Galaxy to educate readers about the metaverse. TIME announced on Thursday that it would launch the TIME100 Companies Metaverse category, joining a family of lists produced by the firm highlighting the most influential companies and people in the world across industries. The new list, which will be commissioned by Galaxy, will feature builders in the metaverse — a corner of the market that’s captured the attention of the broader public since Facebook announced it would change its name to Meta.  📰 The Block Crypto

Luxury fashion house Givenchy drop first NFT collection Luxury fashion house, Givenchy, is about to drop its first set of non-fungible tokens. Fifteen exclusive artworks by digital creator and regular collaborator, Chito. All in all, each NFT features one of Chito’s trademark air-brushed characters, all incorporating the famous Givenchy logo. Within the collection, fans will find the likes of “suspicious-looking dog,” frowning girl,” “boy in a horned cap,” and more. All certified originals, and ratified via the immutable blockchain.  📰 NFT Plazas

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