Web3 AI 🌒 Sat Digest: NFT Collaborations, Bitcoin Wallet Funding, and AI-Infused Gaming
💼 Jump Crypto Leads $5M Investment for Bitcoin-Based Web Wallet Xverse
📝 India Explores Crypto Tokens for Enhanced Digital Signatures
🎮 Roblox Harnesses AI for Dynamic Game Generation, Reveals CEO
💰 Infinity Checks Contract by Jack Butcher Faces Drain, Pledges Full Refunds
🔗 Fingerprints DAO Collaborates with Larva Labs for Membership NFTs
For further details, let's keep reading! 👇
Welcome to our latest crypto news roundup, where we delve into the most intriguing and impactful developments from the rapidly evolving world of cryptocurrencies and blockchain technology. From groundbreaking NFT partnerships and innovative funding initiatives to the fusion of crypto with traditional practices and the expansion of AI in gaming, we're here to keep you informed and engaged with the latest happenings in the crypto space.
Jump Crypto leads $5M funding for Bitcoin-based web wallet Xverse
Xverse, a web-based wallet that allows users to store, send and receive Bitcoin (BTC) and other cryptocurrencies without downloading any software or creating an account, has raised $5 million in a seed funding round led by Jump Crypto, a venture capital firm that focuses on crypto investments.
The funding round also saw participation from other investors such as Coinbase Ventures, Digital Currency Group (DCG), Galaxy Digital, Pantera Capital and Polychain Capital.
Xverse was founded in 2022 by Alex Leishman and James Prestwich, two experienced engineers who have worked on various crypto projects such as River Financial (a Bitcoin brokerage) and Summa (a cross-chain interoperability protocol).
Xverse aims to provide a simple and secure way for users to access their crypto assets from any device or browser. The wallet uses a novel technology called statechains, which enables fast and cheap transactions on the Bitcoin network without compromising security or privacy.
Statechains are a layer-2 solution that allows users to transfer the private keys of their coins to a third party, called a statechain entity, which acts as a custodian. The statechain entity can then facilitate transfers between users without broadcasting them to the blockchain, saving time and fees. Users can also withdraw their coins back to the blockchain at any time.
Xverse claims that its wallet is the first to implement statechains in a user-friendly way. The wallet also supports other cryptocurrencies such as Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and Dogecoin (DOGE), as well as stablecoins such as USDC and DAI.
The wallet also integrates with other web3 platforms and services, such as Uniswap (a decentralized exchange), OpenSea (a marketplace for NFTs) and ENS (a decentralized naming system).
With the new funding, Xverse plans to expand its team, improve its product and grow its user base. The wallet is currently in beta testing and is expected to launch publicly later this year.
Decrypt
India explores using crypto tokens for digitally signing documents
India is exploring the possibility of using crypto tokens for digitally signing documents, according to a report by CoinDesk.
The report cites an unnamed official from the Ministry of Electronics and Information Technology (MeitY), who said that the government is working on a pilot project to test the feasibility of using crypto tokens for e-signatures.
The official said that the project is part of the government’s efforts to promote digital transformation and innovation in the country. He added that the project is not related to cryptocurrencies or blockchain, but rather to cryptography and digital signatures.
According to the report, the project will use crypto tokens that are issued by a central authority, such as MeitY or the Reserve Bank of India (RBI), and are backed by fiat currency. The tokens will be stored in a digital wallet that can be accessed by users through their mobile phones or computers.
The tokens will be used to sign documents such as contracts, invoices, bills and receipts. The signatures will be verified by scanning a QR code or using biometric authentication. The tokens will also have an expiry date and can be revoked by the issuer if needed.
The official said that the project will aim to provide a secure, convenient and cost-effective way of signing documents digitally. He said that the project will also comply with the legal framework and regulations of the country.
The official did not reveal the timeline or budget of the project, but said that it will involve multiple stakeholders from both public and private sectors.
CoinDesk
Fingerprints DAO partners with Larva Labs on membership NFT
Fingerprints DAO, a digital art organization that supports emerging artists and collectors in the web3 space, has announced a partnership with Larva Labs, the creators of CryptoPunks, Meebits and Autoglyphs. The partnership will involve the creation of a membership NFT that will grant access to exclusive benefits and opportunities for both communities.
According to a tweet by Fingerprints DAO, the membership NFT will be based on the Autoglyphs project, which is a generative art series that uses code as the medium. The NFT will also feature a custom design by Harm van den Dorpel, a Dutch artist who is known for his algorithmic and data-driven artworks.
The membership NFT will be available for purchase on September 1st, 2023, at 12:00 PM UTC. The price will be 0.5 ETH for existing Fingerprints DAO or Larva Labs holders, and 1 ETH for new members. The supply will be limited to 1,000 NFTs.
Some of the benefits that the membership NFT will offer include:
- Access to curated exhibitions, events and workshops by Fingerprints DAO and Larva Labs
- Priority access to new drops and collections by both projects
- Exclusive discounts and offers from partner platforms and services
- Voting rights and governance participation in both communities
- A chance to win rare NFTs and other prizes
The partnership between Fingerprints DAO and Larva Labs is a significant milestone for the web3 art scene, as it brings together two of the most influential and innovative projects in the space. The membership NFT will not only provide value and utility to its holders, but also foster collaboration and creativity among artists and collectors.
Lucky Trader
Jack Butcher’s Infinity Checks contract drained, will issue full refunds
Jack Butcher, a popular designer and entrepreneur who runs Visualize Value, a platform that creates visual content for business education, has announced that his latest NFT project, Infinity Checks, has been drained of all funds by an unknown attacker.
Infinity Checks was launched on August 15th, 2023, as an experiment to create a passive income stream for NFT holders. The project consisted of 10,000 NFTs that represented checks with different amounts of ETH. The holders of these NFTs would receive a percentage of the sales revenue from the secondary market every month.
However, on August 18th, 2023, Butcher revealed on Twitter that someone had exploited a vulnerability in the smart contract and drained all the funds from the project. He apologized to his supporters and promised to issue full refunds to everyone who bought an Infinity Check NFT.
According to Butcher, the attacker used a technique called reentrancy attack, which allows them to repeatedly call a function before it finishes executing. This way, they were able to withdraw more funds than they were supposed to.
Butcher said that he had hired an external auditor to review the code before launching the project, but they failed to detect the flaw. He also said that he had learned a valuable lesson from this incident and would be more careful in the future.
He thanked his community for their understanding and support, and assured them that he would continue to create valuable content and products for them.
nft now
How Roblox is Using AI to Create More Diverse and Immersive Games
Roblox is a popular online gaming platform that allows users to create and play games with millions of other players around the world. The platform hosts over 20 million user-generated games across various genres, such as adventure, simulation, role-playing, and education.
But Roblox is not just a game. It is also a metaverse, a virtual world where users can socialize, explore, and express themselves creatively. Roblox is also a platform for learning, as users can develop their coding, design, and entrepreneurial skills by creating and monetizing their own games.
To support its vision of becoming the ultimate metaverse, Roblox is tapping artificial intelligence (AI) to enhance its game creation tools and enable more diverse and immersive experiences for its users.
In an interview with Decrypt, Roblox CEO David Baszucki said that Roblox is using AI to generate content such as terrain, buildings, characters, and animations. He also said that Roblox is using AI to understand natural language inputs from users and translate them into game elements.
For example, Baszucki said that a user could type in a prompt such as “a castle on a hill surrounded by a moat” and the AI would generate a corresponding game scene. He said that this would allow users to create games more easily and quickly without having to code or use complex tools.
Baszucki said that Roblox is also using AI to improve the quality and realism of its games. He said that Roblox is using AI to optimize the graphics, physics, sound, and lighting of its games. He also said that Roblox is using AI to create more dynamic and interactive environments that respond to user actions.
Baszucki said that Roblox’s approach to AI is not to replace human creativity but to augment it. He said that Roblox’s goal is to empower its users to create more rich and diverse games that reflect their imagination and interests.
He also said that Roblox’s use of AI is aligned with its values of safety, privacy, and inclusivity. He said that Roblox’s AI is designed to respect user data and preferences, as well as to promote positive and respectful behavior among its community.
Baszucki said that Roblox’s use of AI is still in its early stages and that the company is constantly experimenting and learning from its users. He said that Roblox’s vision is to create a metaverse where anyone can be anything they want to be.
You can read the full interview with Baszucki here:
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Conclusion: Stay tuned as we explore the ever-evolving realms of cryptocurrencies, blockchain technology, and their far-reaching impact on various industries. The future is unfolding, and we're here to guide you through it. 🚀🌟 #CryptoNews #BlockchainInnovation
