The R Roundup: Apple’s Axie Affinity — Issue #89
Investors in GameFi have always explored the potential for mass adoption to open the world up to the power of blockchain gaming. With Apple making a U-turn, is that adoption nearby?
Despite a significant downtrend in users throughout 2022, it was reported last week that Axie Infinity Origins would be available via the Apple App Store in a number of countries in Latin America & Southeast Asia.
The main objective for the limited rollout is to help “gather data around retention rates” before a full-scale launch.
Initially, Apple denied adopting blockchain applications as there were restrictions on how NFTs could be purchased and a 30% premium for Apple off in-app sales. This turnaround comes with executive optimism from the Sky Mavis team, hoping policies will favor web3 projects!
Revenge Best Served Sued — FTX👨⚖️
With FTX being one of the cryptos catastrophes of 2022, news broke that FTX lawyers have filed a lawsuit against SBF over the $200m Embed acquisition, a stock clearing platform.
Lawyers on the FTX case have alleged that there was a severe lack of due diligence before acquiring Embed, as the lawyer's notes claimed the “software platform was essentially worthless.”
Forget KYC, ID For Crypto Transactions 🇪🇺
The European Union has been in the headlines for advancing precise regulation in crypto as the MiCA regulation received final approval from the council.
The overall objective of the MiCA proposal is to coordinate a clear crypto law for the 27 member states, including a law stating identification, will be required for ALL crypto transactions across those jurisdictions.
Investors in crypto around Europe are skeptical of how this functionality will look for the decentralization element of the industry; however, regulators have shared their sentiment towards MiCA and the need for illicit crypto transactions to be prevented.
The Unnerving Nano X Update😬
Leaders in the hardware wallet industry Ledger faced the brute force of the crypto industry following their recent product update.
Leder initially announced that they would launch Ledger Recover, an ID-based key recovery service backing up users' seed phrases once they have completed KYC.
There was a major backlash as users were concerned that the custodians providing this service would also need to be trusted, which is scarce in this industry.
Following the criticism, Ledger concluded they would delay the feature as CEO Pascal Gauthier exclaimed they wouldn’t release it without publishing the code publicly.
As the race to revert the sentiment around Ledger begins, they will host a Twitter Space to communicate with their community.
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies. This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
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