Web 3.0
Report: India ranks third in the world in terms of Web 3.0 workforce size
According to a new study published by the National Association of Software and Services Companies (NASSCOM), a non-profit organization in India with over 3,000 members, the country currently possesses 11% of the world’s Web 3.0 talent. The figure makes India the world’s third largest regarding its Web 3.0 workforce, employing nearly 75,000 blockchain professionals today. Furthermore, the industry group expects the talent pool to grow by over 120% within the next two years. India is also home to 450 Web 3.0 startups, four of which are unicorn companies. Through April 2022, the Indian Web 3.0 ecosystem has raised $1.3 billion in funding. Moreover, over 60% of Indian Web 3.0 startups have expanded their footprints outside of the country. The vast majority of firms listed in the st...
NFT Steez and Cryptoys CEO discuss the future of toys within Web3 environments
On Oct. 14, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with the founder of Cryptoys, Will Weinraub to discuss the current role of play and toys in regard to their integration with nonfungible tokens and Web3 as a whole. Weinraub believes that the act of play is “not restricted to children” and believes that as adults, “we still crave the element of play throughout life.” According to Weinraub, through the development of technology, “play has evolved.” Nonfungible tokens, especially in gaming, have highlighted this layer of ownership through play. Technology will continue to evolve “play” Weinraub and Cryptoys theorize that “adults are just looking for ways to feel like kids again.” K...
Amazon.eth ENS domain owner disregards 1M USDC buyout offer on Opensea
On Tuesday, the Ethereum Name Service, or ENS, domain Amazon.eth received an offer for 1 million USDC (a stablecoin pegged to the U.S. dollar) from an anonymous wallet address on OpenSea. The offer to buy the ENS domain went unanswered however, and no transaction took place. This is despite the last sale of the domain name being five months ago for 33 Ether (worth around $100,000 at that time). The expired million-dollar offer for Amazon.eth on OpenSea | Source: OpenSea It is unclear at the time of publication whether the owner simply was not informed of the offer, or did not consider it to be near fair value, or if the bidding and domain owner accounts were linked in an attempt to boost the price of the asset (in what is known as a “wash trade”). According to data from Op...
Utopia Against Censorship: Rescue Pill for Freedom Seekers
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The 5 Most Common Security Concerns for the Web 3.0 World
Fady Younes, Cybersecurity Director for Cisco Middle East and Africa. Cisco Talos has revealed the top 5 security risks in Web 3.0. This latest iteration of the world wide web will include the immersive 3-D experience known as the “Metaverse” – a virtual reality environment where people can explore, shop, play games, spend time with friends, attend a concert, or take part in business meetings. “As the internet morphs into the metaverse a whole new range of opportunities, capabilities and features are opening up to users, institutions, governments and businesses. Despite all these possibilities, Web 3.0 is also seeing increasing security threats that can be exploited by hackers and criminals. The team of researchers at Cisco Talos has done a deep dive to highlight the most common security c...
Coinbase enables users to fund wallets from Chrome browser extension
On Wednesday, Coinbase launched a new feature, dubbed “Coinbase Pay,” that enables its clients to fund their Coinbase Wallets directly from a Chrome browser extension. According to its staff, Coinbase Pay intends to make it intuitive for anyone to participate in decentralized finance, or DeFi, swap tokens on decentralized exchanges, or DEXs, and purchase nonfungible tokens, or NFTs, in just a few clicks. Specifically, they wrote: “Before Coinbase Pay, users who wanted to add funds to their Coinbase Wallet from the browser extension needed to navigate to Coinbase.com, sign in to their account, copy-paste their wallet address, and manually transfer funds from their Coinbase account. The process was not only cumbersome, but also left the user vulnerable to user error.”...
‘You don’t own Web 3.0,’ says Jack Dorsey, criticizing its centralized nature
In a series of tweets posted on Tuesday, Jack Dorsey, the co-founder and former CEO of Twitter, as well as the founder and CEO of Square (now Block), voiced his criticism over the direction of Web 3.0 development. Elon Musk, the CEO of Tesla, joined Dorsey in the mockery. On an unrelated note, the same day, Dorsey replied, “Bitcoin will” when asked if crypto will replace the dollar. Within context, Web 3.0 is a decentralized version of the virtual world that will, in part, feature public blockchains, metaverse technology, nonfungible tokens and decentralized finance free from the grasp of centralized power sources, such as corporate servers. You don’t own “web3.” The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centralized entity wit...
Reddit co-founder and Polygon launch $200M Web 3.0 social media initiative
On Friday, Polygon and Alexis Ohanian’s venture capital firm, Seven Seven Six, announced a $200 million initiative backing projects operating at the intersection of social media and Web 3.0. The initiative will focus on gaming applications and social media platforms built on Polygon’s infrastructure. Ohanian co-founded Reddit in 2005, left in 2010 and returned as executive chairman in 2014 to lead a turnaround before resigning in 2020. He has been a seed investor in several prominent tech and blockchain firms such as Coinbase, Instacart, Sky Mavis — the developer of Axie Infinity — and Patreon. As an Ethereum scaling solution, Polygon’s ecosystem has expanded rapidly this year, with over 3,000 decentralized applications built on its network. Earlier this month, Polygon announced...
