Evening News | It is reported that Tencent plans to shut down its digital collectibles business "Huanhe"; ConsenSys launches TURN token for smart contract auditing services
DeFiance Capital founder: $10 billion is a serious overestimation of Three Arrows Capital's asset management scale; blockchain security company Halborn completes $90 million Series A funding.Organizer: AChai, Chain Catcher
"What important events have occurred in the past 24 hours?"
1. Tencent plans to shut down its digital collectibles business "Huanhe"
According to insiders at Tencent, the company is planning to cut the "Huanhe" business this week, a message that has already been communicated to the core staff (low-level management personnel within Tencent).
Huanhe is Tencent's digital collectibles platform, launched in August 2021, and has not yet been operational for a year. On July 2, the Tencent News App also suspended the sale of digital collectibles. (Source link)
2. Crypto exchange Zipmex announces suspension of withdrawals
Southeast Asian crypto exchange Zipmex announced the suspension of withdrawals, with the timeline for resuming withdrawals to be announced later. Regarding the reason for the withdrawal suspension, Zipmex stated that it is to maintain the integrity of the platform due to various uncontrollable situations, including turbulent market conditions and financial difficulties of business partners. (Source link)
3. DeFiance Capital founder: $10 billion is a serious overestimation of Three Arrows Capital's AUM
DeFiance Capital founder Arthur tweeted that "$10 billion is a serious overestimation of Three Arrows Capital's assets under management. The net asset value of Three Arrows Capital was about $3 billion at the end of December 2021 and about $2.38 billion on May 13, 2022. During the period from December 2021 to May 2022, they had no market opportunities to triple and then fall back."
He also stated that anyone who continues to use the $10 billion figure simply means they haven't done their homework and are repeating random numbers heard on Twitter. (Source link)
4. Blockchain security company Halborn completes $90 million Series A funding, led by Summit Partners
Blockchain security company Halborn has completed a $90 million Series A funding round, led by Summit Partners, with other investors including Castle Island Ventures, Digital Colurncom Group, and Brevan Howard. It is reported that Halborn provides end-to-end cybersecurity services, from advanced penetration testing to security audits of Layer 1 blockchain protocols including Solana, Cosmos, and Substrate. (Bloomberg)
5. ConsenSys smart contract auditing service ConsenSys Diligence launches TURN token
ConsenSys announced the launch of the TURN token for its smart contract auditing service ConsenSys Diligence, which creates a new open market for buyers and sellers of security audits and will be available for a limited time from 12:00 PM UTC on August 15, 2022, to 12:00 PM UTC on August 19, 2022, at turnplatform.bid.
Each TURN is an ERC721-compatible token representing 40 hours of audit time. TURN tokens will be directly granted to clients or sold at minting, and can be traded among clients needing audit services, thus optimizing price discovery in service participation and scheduling processes. Each token represents a time slice of a smart contract auditor and allows for free market pricing. (Source link)
6. Game studio founded by former TikTok gaming head to launch two blockchain games
The game studio TenthPlanet, founded by former TikTok gaming head William Wei Chen, plans to launch two blockchain games: an online role-playing game inspired by "Genshin Impact" called "Mech Angel," and a digital cat metaverse game called "Alien Meow." It is reported that William Wei Chen previously founded the game company Mokun Technology, which was acquired by ByteDance in 2019 for over $250 million. He and his colleague Kevin Yeung then founded the game studio TenthPlanet, which currently has over 100 game developers dedicated to developing Unreal Engine games with AAA value. (Source link)
"What excellent articles are worth reading in the past 24 hours?"
In the 14 days of June, crypto billionaire Sam Bankman-Fried engaged in an unprecedented trading frenzy in the history of the industry. The deals came in rapid succession, dazzling many: he acquired two companies, supported the crypto platform BlockFi, and attempted to rescue another, Voyager Digital, with large loans.
For many, Bankman-Fried, with his wild Einstein-like hair and promise to eventually donate nearly all his wealth, represents a cultural figure that crypto enthusiasts can support. He is active on Twitter and unafraid to raise existential questions about the industry and its future. This does not mean that Bankman-Fried cannot take advantage of his opponents' desperation. "He is not a kind, gentle savior."
2. Messari: Analyzing Uniswap's market performance and progress in Q2
Despite the cryptocurrency market's market capitalization dropping by more than 50% in Q2, Uniswap's trading volume only decreased by 8.7% compared to the previous quarter, partly due to the significant volatility in the crypto market; another important factor is the activity of arbitrage bots in the system, which can account for 75% of all trading volume, indicating a healthy sign. DEXs have matured over the past two years to the point where activity is driven by price efficiency rather than purely retail speculation.
3. Overview of the NFTFi landscape
Due to the lack of liquidity in the NFT market, there has been a demand for financialization. The market has attempted and explored NFT financialization in several directions, including trading, lending, leasing, liquidity pools, and fragmentation. However, due to difficulties in valuation pricing, lack of price consensus, and insufficient practicality, these explorations and attempts are still in the preliminary stages.
The NFT market itself is growing and has achieved initial breakthroughs. Looking back at the development paths of DeFi and traditional finance, we believe that NFT finance is a track with great potential. With the continuous improvement of infrastructure and industry innovation, we believe that more comprehensive solutions will emerge in the future to empower the entire NFT industry.
