Monday Movers 18

Spanish soccer team Laliga enters Decentraland, while stablecoins in Australia will soon require a license.

Highlights from the weekend:

  • Spanish soccer team Laliga enters Decentraland through a licensing deal
  • Releasing stablecoins without a license in Australia could be a crime soon
  • Hacker steals over $3 million from ETH "vanity addresses"
  • Wazir X unveils new "learn and earn campaign" with The Sandbox

Words of Wisdom:

"Paper money is going away."

- Elon Musk
"Online identity and reputation will be decentralized. We will own the data that belongs to us."

- William Mougayar
"Bitcoin is the beginning of something great: a currency without a government, something necessary and imperative.”

- Nassim Taleb

Finblox Performers:

The Scoop:

Laliga, the Spanish soccer first division organization recently partnered up with Stadioplus and Vegas City Limited. This marks their foray into Decentraland, and solidifies their plans to offer new virtual experiences - in the Ethereum-based metaverse. With this move, Laliga plans to draw in more fans from all over the world, and to appeal to a younger audience. The experiences will be offered in a set of parcels throughout Vegas city, a sector in Decentraland where users can game and play various sports.

"For LaLiga it is essential to continue innovating in the ways of offering the best of the competition to our fans, both on and off the pitch. This license agreement will allow us to reach a new and relevant audience, such as Decentraland."

Agus Ferreira, CEO of Decentraland

Ferreira also stated that it's a unique opportunity to showcase the possibilities of decentralization and Web3. Multiple Spanish teams have already entered the metaverse space including FC Barcelona, and FC Real Madrid - another team part of Laliga. StadioPlus is lazer-focused on bridging the sports industry and Web3 - starting with LaLiga.

An Australian Liberal Senator, drafted a crypto bill targeting crypto exchanges, stablecoins, and the Chinese digital Yuan. The new bill called "Digital Assets Market Regulation Bill" plans to open its doors to investments,  and to grow the country's virtual economy. The proposed law dictates that it's a crime to issue stablecoins without a license; plus providers of stablecoins will require reserves in an Australian bank, including quarterly reports to the authorities.

Scarborough WA, Australia bike riders beach three dudes guys grass
Don't launch a stablecoin without a license in Australia, mate! 

The reason for the proposed bill was due to the recent Terra (LUNA) collapse, and the desire to protect consumers against unnecessary harm. Additionally, crypto exchanges will be required to conduct regulation, as well as disclosure and cybersecurity requirements for people residing in Australia. The country plans to join the United States in regulating crypto, and is set on implementing the necessary rules to better its economy.

A hacker depleted $3.3 million from several Ethereum addresses using a tool called Profanity. The crime was revealed according to on-chain data from Etherscan, and witnessed by security analyst - ZachXBT. 1 Inch Network recently stated that vanity addresses generated with the Profanity tool are unsecure. Users who have private keys Profanity-generated addresses, can easily be extracted via brute force calculations.  Experts suggested that the attackers had been preying on their victims beforehand, and were well aware of the security vulnerabilities beforehand. Tal Be'ery, security lead and chief technology from ZenGo - mentioned that the attackers had been trying to find as many private keys as possible before the vulnerability was visible.

India's largest crypto exchange by volume, WazirX has unveiled their "learn and earn" program with The Sandbox. The campaign started on September 19th, and 5 lucky winners will win free passes to Alpha Season 3 - according to a press release. In the first stage of the contest, users will have to answer 10 questions about The Sandbox Alpha. Following the quiz, the participants will have to trade in at least 10 SAND from 19th September at 10 am to 25th September till 10 pm IST.

Nischal Shetty WazirX Indian man smiling
Nischal Shetty brings WazirX to virtual lands. 

The winners will be chosen randomly, and will be awarded Alpha passes that grants them the chance to win 500 SAND tokens. The presence of crypto in India is growing monumentally, amidst its topsy-turvy relationship with the government. The Indian government fears the financial instability in the country, but Indian citizens are moving forward with crypto adoption and the P2P initatives are only escalating.

Blockchain Events and Conferences:

...and finally, some memes for your morning:

DISCLOSURE:

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. Charts, graphs and references to any digital assets are for informational and illustrative purposes only.

Finblox Blog is associated with Finblox - a next-generation crypto ecosystem where you can buy and earn amazing rewards on your digital assets.

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