Aptos Autumn is Here
Yet another Layer-1 chain, Aptos has launched today. Aptos will be fighting for a piece of the pie with top Layer-1 contenders such as Ethereum, Solana, Tron, BSC, and Avalanche, among others.
It’s also being said that the native token of Aptos chain $APT will simultaneously launch on major centralized exchanges. However, there’s been some criticism around the tokenomics details as they haven’t been made public by Aptos Labs yet.
Although, as per a leaked document, the tokenomics is shown as a total supply at the time of genesis to be one billion coins. The distribution of tokens among investors, core contributors, the foundation, and the community is shown to be 13.48%, 19%, 16.5%, and 51.02% respectively. (Source)
This week in Web3 Wednesdays:
- India’s e-commerce giant Flipkart launches Metaverse shopping experience
- Azuki introduces Physical Backed Token (PBT) standard
- For the first time: A real house represented in an NFT got sold for $175k
- FTX US and Sam Bankman-Fried are the subjects of a probe by the Securities Regulator
- Ethereum addresses are now searchable on Google
- DeFi Hacks: Single day witnesses four hacks across different DeFi platforms
India’s e-commerce giant Flipkart launches Metaverse shopping experience
Flipkart has been hinting about its web3 step for a long-time now and finally the e-commerce giant has unveiled Flipverse – a metaverse offering new interactive shopping experience.
The firm has partnered with eDAO, a Polygon-incubated firm, to launch the metaverse offering which is aimed to garner interest during the festive season this month.
On Flipverse, which goes live on Flipkart’s Android app Monday, the company is offering “gamified, interactive and immersive” experiences for consumers where they will be able to collect the company’s loyalty points — Supercoins as well as digital collectibles from partner brands as they make purchases. Flipverse also features a number of casual games.
Azuki introduces Physical Backed Token (PBT) standard
Azuki, the web3 anime universe known for its blue-chip NFT collection has introduced the Physical Backed Token (PBT): an open-source token standard tying a physical item to a digital token on the Ethereum blockchain.
PBT enables the hardware to create a new experience we like to call “scan-to-own”. The first implementation of PBT uses the BEAN Chip, a physical cryptographic chip that self-generates an asymmetric key pair.
With this token standard, Azuki aims to solve the problem of decoupling of physical items represented in digital tokens after the mint. PBT is a standard that features decentralized authentication and tracking of the ownership lineage of physical items, completely on-chain and without a centralized server.
Developers can begin building with PBT at http://pbt.io.
For the first time: A real house represented in an NFT got sold for $175k
This NFT house sold for $175k over the weekend. Holding the NFT gives you ownership of the actual house in South Carolina. The company that made it happen is Roofstockand you can view the traits on the OpenSea marketplace.
Here’s how the company behind it making it possible:
1. They open an LLC for each property
2. The LLC takes ownership of the property
3. They tokenize the property & mint an NFT that represents ownership of the house
4. People can browse the NFTs on the marketplace & buy the homes in one-click
Show it to those who criticize web3 for lack of any real-world applications.
FTX US and Sam Bankman-Fried are the subjects of a probe by the Securities Regulator
FTX US and its founder Sam Bankman-Fried are under investigation by Texas’ securities regulator, marking yet another expansion of enforcement agencies’ probes into the crypto industry’s activities.
The investigation was detailed in a late Friday filing by Texas State Securities Board enforcement director Joe Rotunda in the bankruptcy case of Voyager Digital. “The Enforcement Division is now investigating FTX Trading, FTX US, and their principals, including Sam Bankman-Fried,” Rotunda said in the filing.
Ethereum addresses are now searchable on Google
Have you tried searching for an Ethereum address on Google last week? If not, go ahead and see it for yourself.
Google Inc. is now providing data on Ethereum addresses via its search engine. The company’s latest cryptocurrency feature allows users to select Ethereum wallet addresses to track the Ether balances directly on the search engine.
The new feature works through a block explorer and website Etherscan that provides data on the Ethereum blockchain. The functionality was first introduced by Han Hua, principal of Google Ventures in a Twitter thread on Tuesday.
The single day witnesses four hacks across different DeFi platforms
Hacks in the DeFi world are pretty common, but this is something new. On 12th October, four DeFi protocols across chains were hacked in a single day resulting in millions of dollars of loss. These protocols are
- Mango Market, a platform based on Solana, lost $100M as a result of a hack.
- Temple DAO, a DeFi protocol, was hacked and lost more than $2.3 million.
- Rabby Swap, a feature of the Rabby crypto wallet, was exploited, one month after its inception, resulting in a loss of roughly $2.34M.
- QANplatform bridge exploited