Evening News | Terra plans to invest $3 billion to establish BTC reserves; GameStop launches beta NFT marketplace on Loopring network
Crypto.com became the exclusive cryptocurrency trading platform sponsor of the 2022 Qatar World Cup.Organizer: Cookies, Chain Catcher
"What important news has emerged in the past 12 hours?"
1、Terra founder Do Kwon: Plans to use $3 billion to establish BTC reserves
Terra founder Do Kwon tweeted that UST, combined with over $10 billion in BTC reserves, will usher in a new monetary era based on the Bitcoin standard.
When asked where the $10 billion in BTC would come from, Do Kwon stated that it is not yet $10 billion. As the supply of UST increases, a portion of the seigniorage will be used to establish BTC reserves connected to the Terra chain. We have $3 billion ready to establish this reserve, but the technical infrastructure (such as cross-chain bridges) is still not ready.
Regarding the source of the $3 billion, Do Kwon mentioned that recently LFG raised $1 billion through OTC sales and another $1.2 billion by selling UST for Tether, leaving a gap of $800 million. (Source link)
Video game retailer GameStop's NFT marketplace has launched in beta, built on the Loopring Layer 2 network, with a full NFT marketplace set to launch soon.
According to the beta NFT marketplace page, GameStop may introduce its own browser extension wallet. (Source link)
3、Crypto lending platform Nexo launches a $150 million Web3 investment fund Nexo Ventures
Crypto lending platform Nexo has launched a $150 million internal Web3 investment fund. The company's venture capital arm, Nexo Ventures, plans to deploy the funds into blockchain-based gaming, decentralized finance (DeFi), and NFTs. Tatiana Metodieva, head of corporate finance and investments at the venture capital arm, stated that the fund will drive the continued adoption of digital assets and the expansion of the Web3 ecosystem.
Previously, the venture capital arm invested in 1inch, BCB Group, BlockFills, Bware Labs, Interlay, Mizar, Qredo, Rain, Texture Capital, The TIE, and Yield Protocol, and collaborated with hedge fund Three Arrows Capital to launch an NFT lending platform, NFT Lending Desk. (Source link)
4、Crypto.com becomes the exclusive cryptocurrency exchange platform sponsor for the 2022 Qatar World Cup
FIFA announced on its official website that the cryptocurrency exchange Crypto.com has become the official sponsor of the FIFA 2022 Qatar World Cup and the exclusive cryptocurrency exchange platform sponsor. The transaction amount has not been disclosed.
Crypto.com will activate its official sponsorship of the 2022 Qatar World Cup in various ways, including providing opportunities for new and existing users to watch matches or win exclusive merchandise during the event. According to previous reports, Crypto.com has invested nearly $1 billion in various sports sponsorship activities to enhance its global influence.
It is reported that Crypto.com was established in 2016 and now provides cryptocurrency trading services to over 10 million customers, with more than 4,000 employees in offices across the Americas, Europe, and Asia. The 2022 Qatar World Cup will be held from November 21 to December 18, 2022. (Source link)
5、Aave community proposes strategic partnership with Balancer and acquires 300,000 BAL tokens
The Aave community has proposed a strategic partnership with Balancer, exchanging 14,666.67 AAVE from reserves for 200,000 BAL tokens at an exchange rate of AAVE $150 : BAL $11. The team will also deploy a Bonding Curve to purchase 100,000 BAL tokens in the market, costing approximately $1.1 million.
Previously, the Aave team's BAL reserves were 1,604 tokens, and this purchase will place their BAL token holdings in the top eight. The 300,000 BAL tokens will be deposited into the Balancer V2 pool at a BAL : ETH ratio of (80:20). The Aave team will participate in the revision of Balancer's token economics on March 28. (Source link)
6、Dubai venture capital firm Cypher Capital launches a $100 million blockchain fund
Dubai venture capital firm Cypher Capital has launched a $100 million blockchain fund to invest in blockchain, cryptocurrency, and other digital asset projects.
It is reported that Cypher Capital is a private venture capital firm based in the UAE and the MENA region, focusing on cryptocurrency, blockchain, and digital asset projects. The company's founder has previously invested in projects such as ACDX, Graph, Near Protocol, and Skale.
Additionally, Cypher Capital will launch its 10,000 square foot blockchain, cryptocurrency, and digital asset center in Dubai in the coming months. (Source link)
"What articles are the editors of Chain Catcher reading?"
1、《0xSoros: Q2 2022 Industry Outlook and Progress of Portfolio Projects》
Well-known crypto industry KOL 0xSoros provides a detailed analysis of the outlook for the crypto industry in Q2 2022 and the progress of portfolio projects, including popular projects such as DeFi Kingdom, Cosmos, and Tera, which is quite helpful for investors.
2、《[Yuga Labs' Own Words: The Origin of a $4 Billion Story - "Let's Make an NFT"]](https://www.chaincatcher.com/article/2071713)》
From a single image at the start to a current valuation of $4 billion, Yuga Labs has gone from obscurity to being the center of attention in sports, entertainment, and VC in just over a year. Acquiring well-known IP, launching Ape Coin, and using exciting videos to announce the arrival of Otherside and other IPs, culminating in a $450 million financing led by a16z that pushed the sentiment to a peak.
The founding team of Yuga Labs has also shared their story on their official website. Everything started with the phrase on February 1, 2021: "Let's make an NFT."
3、《Katie Haun: The New Queen of Crypto?》
Led by former a16z partner Katie Haun, the venture capital firm Haun Ventures has raised $1.5 billion for its two cryptocurrency-focused venture capital funds, with $500 million allocated for early-stage investments and $1 billion for an "accelerator" fund. As a16z's first female fund manager and a former federal prosecutor at the U.S. Department of Justice, Katie Haun carries an air of mystery. This article provides a more intuitive understanding of this new queen of crypto.
4、《Three Major Misunderstandings About NFTs》
For some, NFTs are the hottest new collectibles; for others, they are a powerful investment tool; and many believe they represent the future of the internet. However, currently, NFTs do not have the capability to accomplish what they aim to do. The theoretical technology behind NFTs, cryptocurrencies, and blockchain is so avant-garde that it can easily be misinterpreted as incorrect information. Explaining the issues surrounding NFTs is complex, but we will break down these issues as concisely as possible to clarify some common misconceptions about NFTs.
