Highlights from the weekend:
- South Korean students embrace the metaverse for study
- A Brazilian football club recently accepts Shiba Inu as payment
- 19-year-old makes almost $50 million from selling his own NFTs
- India's Deputy Governor says CBDC could "kill" the reasons for the existence of private cryptocurrencies
- Discord server hack reports stolen NFTs worth around $361,000 in ETH and $250,000 in NFTs
Words of Wisdom:
- Max Kaiser
- Tyler Winklevoss
- Satoshi Nakamoto
The metaverse is picking up steam among students in South Korean schools, especially by those who prefer to be more focused on their studies for the national exams. Students previously studied in libraries or cafes, but the metaverse granted them the option to study together from the comfort of their own homes. The only requirements are a reliable camera and microphone to zone in on their tasks and studies. Ultimately, they felt that they could monitor tasks better and simply skip the step of commuting and wearing masks outdoors.
Tagroom is one such study stream app that is popularly used in South Korea, and allows students to customize their avatars and study together. Ultimately, the pandemic has changed the ways of traditional schooling - bringing the metaverse into educational spaces worldwide.
São Paulo Futebol Clube, also known as Sao Paulo FC - recently accepted SHIB as a valid form of payment for buying tickets to their games. The largest club in the world has claimed the title of the first team in the country to accept cryptocurrencies.
Shiba Inu is increasingly becoming a coin of interest for whales and large holders, ranking in 10th place among the most-purchased tokens for ETH whales in the last 24 hours - according to WhaleStats. The total number of SHIB holders currently stands at 1,175,829, with the metric count reflecting upward daily growth thus far.
Meanwhile in India, the deputy governor of the Reserve Bank of India (RBI) - T Rabi Sankar - argued that stablecoins should not be a 1-to-1 equivalent to fiat currency. He expressed his opinions at a recent IMF webinar, and stressed that India plans on introducing its CBDC in the current fiscal year through a graded approach. Sankar claimed that this method will ensure that little to no disruption happens to the existing currency and payment systems.
"Any tool that can be used for good can also be put to undesirable uses. Technology, at the end of the day, is a tool."
Rabi Sankar, India's deputy governor
On April 8th, the central bank was positioned to begin testing and running pilot projects for a digital rupee, but Sankar's hesitation stunted progress. What's next for India and cryptocurrency? We can only find out in the coming months.
Victor Langlois, also known as “FEWOCIiOUS” - made almost $50 million in a little over a year from selling his NFTs. According to a recent report by NBC news, the 19-year-old first achieved mainstream fame when he sold his NFTs for $2.16 million at Christie's auction house in New York.
In honor of pride month, we're celebrating Langlois's achievement as a young trailblazer of the LGBTQ community. Langlois claimed that her family had a difficult time understanding her ambitions - especially her grandmother - but all she could ever think of doing in life was to "draw, relax, and do nothing." She mentioned that she'll be putting her hard-earned money to good use by investing in her businesses and deepening her relationship with art.
NFT communities and artists may be on the rise, but so are NFT-related thefts. The official twitter of Bored Ape Yacht Club recently announced that their Discord servers were hacked, resulting in a loss of nearly $610,000. The community and social media manager of Yuga Labs, Boris Vagner - was breached while phishing links were posted on BAYC and other Discord channels.
Holders were then redirected to a phishing site that requested their login details. Ultimately, all the ETH and NFTs held in the victims' linked wallets were stolen. Gordon Goner, one of the founders of BAYC - isn't a fan of Discord at all, and stressed the need for more secure platforms for Web3 communities. This was not the first time it happened at BAYC; their Instagram account was also hacked in April and nearly $3 million was stolen. For repeat cases like this, companies and institutions need to take strict security measures to prevent such large and debilitating incidents.
Blockchain Events and Conferences:
- Tuesday, June 7th (Austin, TX)
The Web3 & NFT Event of 2022
- Thursday, June 9th (Austin, TX)
Enterprise Digital Asset Summit
- Friday, June 10th (Singapore)
World Blockchain Summit
- Friday, June 10th (Prague, Czechia)
Ethereum hackathon in Prague
- Saturday, June 11th (Charlotte, NC)
Charlotte Bitcoin Meetup
...and finally, some memes for your morning:
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.
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