This Week In Crypto | 17th September 2022

Hello everyone!

Welcome to another episode of crypto weekly, where you get updated on the significant events shaking the cryptoverse over the past few days.

In today’s episode of crypto stories and happenings, we bring you the following;

  • Bored Ape Ethereum NFT Owner is Launching a Real-World Yacht Club
  • Blockchain Community Launches In The University Of Port-Harcourt
  • Coinbase To Add Political Feature In Its App To Educate Users On Crypto Laws

Let’s jump right in;

1. Joe Biden Issues Crypto Framework Regulation, The First Of Its Kind In The Country

The President of the United States of America, Joe Biden has asked federal agencies to go through the ratio between the risks and benefits of cryptocurrencies.

Although there is no mention of any particular authority to look after this category, this gives more authority to the regulators like the SEC and CFTC.

However, the new reports indicate that there is a demand for the financial authorities to look for illegal activities and eliminate them.

From the reports, the framework also mentions that there is a possibility of gaining some benefits from central bank digital currency (CBDC) which will be issued by the United States government.

2. Coinbase To Add Political Feature In Its App To Educate Users On Crypto Laws

The founder and CEO of Coinbase Brian Armstrong, announced on September 14 that Coinbase is integrating users’ rights in policing crypto rules and the U.S. members’ stance on crypto in its legislative action portion.

This will help its 103 million customers to get educated on the crypto stance of the politicians, accessible by verified users of Coinbase application.

Coinbase’ political section will utilize data gathered by non-profit firm, Crypto Action Network.

This firm aims to improve cryptocurrency security and growth.

Using scorecards for Congress members over their behavior toward crypto through recorded public statements and actions.

Coinbase will also feature the politician crypto scorecard having grades ranging from A to F.

3. Fortnite Creator Epic Games Releases First NFT Game on Its Store

Blankos Block Party Web3 game  is the first NFT-powered game to launch on the Epic Games Store.

It is now the first Web3 title published on the popular PC gaming marketplace.

Mythical Games title was formerly available from its own website after launching with an open beta in December 2020.

The company also said in June of this year that Blankos had amassed more than one million total users to date.

The Web3 game lets users play and collaborate in a colorful online world, and is inspired by designer toy culture.

The game uses NFTs to represent unique items like avatar designs and accessories, which can be bought and sold through the game’s marketplace.

Although, owning NFTs is not a requirement before the game can be played.

4. Blockchain Community Launches In The University Of Port-Harcourt

Blockchain and Cryptocurrency awareness in Nigeria is growing at an incredible rate. 

The Giants of Africa – Nigeria is going through an economic downturn with inflation hitting 20% but despite that, the country is at the forefront of Blockchain technology Adoption. 

According to a survey conducted by Statista in 2020, 32% of Nigerians have admitted to using or owning cryptocurrencies.

Earlier this week, the prestigious University of Port Harcourt witnessed the birth of a Blockchain Community – Blockchain Uniport. 

The community is meant to bring Blockchain education and opportunities to students interested in and actively involved with Blockchain and Cryptocurrency. 

Blockchain Uniport is a Student-run Blockchain club established to bring Blockchain and Cryptocurrency education and adoption to over 40,000 students on the University campus and expose them to the opportunities in the industry. 

Whilst the institution has produced industry thought leaders and experts in the Blockchain space there has been a shortage of Blockchain-related activities and exposure to students on campus.  

Lots of students do not have a proper knowledge of what Blockchain and Cryptocurrency are and how they can benefit from them rather than involving themselves in illegal activities. 

Blockchain Uniport will provide a platform to groom students from the beginner level by exposing them to opportunities in the space. 

The team which would be run by students will lead the way in driving Cryptocurrency education in the next phase of what is to come. 

Despite the ASUU strike and Crypto bear market, the team is building the community to prepare students for the next market cycle and expose them to available opportunities. 

To get more updates from the community, You can follow their social media handles; 

Twitter: @BchainUniport

Instagram: @BlockchainUniport 

Facebook: @BlockchainUniport

Or send a mail to [email protected]

5. Historic Day For Crypto as Ethereum Merge to proof-of-stake Occurs

The long awaited Ethereum Merge officially took place on the 15th September at 06:44 UTC, marking the full transition of the network to proof-of-stake (PoS).

The Ethereum Mainnet execution layer merged with the Beacon Chain’s consensus layer at the Terminal Total Difficulty of 58750000000000000000000, meaning the network will no longer rely on a proof-of-work consensus mechanism.

The Ethereum Foundation has said the Merge will make the Ethereum network about 99.95% more energy efficient and will set the stage for future scaling solutions, including sharding.

With the completion of the Merge, the “Surge”, “Verge”, “Purge” and “Splurge” are the final stages left on the Ethereum technical roadmap.

The Surge will increase scalability for rollups through sharding, the Verge will achieve statelessness through Verkle trees, the Purge will eliminate historical data and technical debt, and the Splurge will involve a number of small miscellaneous upgrades.

6. Bored Ape Ethereum NFT Owner is Launching a Real-World Yacht Club

The Bored Yachts Club is a new community project that aims to serve up yacht rental opportunities exclusively for NFT owners.

It was created by owner of a Bored Ape Yacht Club NFT and CEO of a crypto company.

The Club offers several disinterested-looking Apes in NFT form but a suspicious lack of boating opportunities.

This is about to change with the launch of a decentralized and NFT-gated yachting platform that lets members rent real vessels all over the world, with proceeds going to charity.

The initiative will begin with “Lady Amanda”, the single yacht of club creator Jad Comair, but the goal is to bring in more yacht owners over time while letting them direct funds to causes of their choice.

Heads up!

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A quick bounce off the 19k zone has shown that we have a strong support there

Bitcoin Daily Chart

The market continues to consolidate even after the Ethereum merge, will we go parabolic from here?


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