Weekly News Round-up: 06/08/2022 – 12/08/2022

Living in the technological age is a challenge in and of itself because it necessitates constant awareness of global events. Therefore, we are attempting to update your understanding about cryptocurrency with the most pertinent news articles here. Look at this:

Nvidia introduces new developer tools for its Metaverse 

Nvidia, a hardware manufacturer, is stepping up its attempts to establish a presence in the Metaverse. A new collection of developer tools for metaverse environments, including additional AI capabilities, simulations, and other artistic resources, were unveiled by the business recently.

The latest updates will be available to creators using the Omniverse Kit as well as programmes like Machinima, Audio2Face, and Nucleus. According to Nvidia, one of the tools’ main purposes will be to facilitate the creation of “exact digital twins and realistic avatars.”

In the industry, developers and users are debating whether to prioritize the quality of experiences above the amount of interactions in the metaverse. This was demonstrated during the first-ever metaverse fashion week, which took place in the spring

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Reddit and FTX collaborate to make ETH gas fees for community points possible

Online community Reddit, which abandoned accepting Bitcoin (BTC) payments years ago, now appears to be edging closer to accepting cryptocurrency payments thanks to a new agreement with the FTX exchange.

In a joint statement on Tuesday, Sam Bankman-cryptocurrency Fried’s exchange FTX and Reddit stated that the platform would incorporate Reddit’s Community Points in the US, the EU, Australia, and other markets.

As part of the agreement, FTX Pay will be integrated as a payment and cryptocurrency exchange service, enabling new benefits for Reddit Community Points. Reddit Community Points, which were introduced in May 2020, are a gauge of reputation in subreddits or communities, enabling users to own a piece of their preferred communities.

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Blockchain is appropriate for commercial real estate says Deloitte 

The distributed ledger in blockchain-based solutions is censorship-resistant and irreversible, among other advantages. According to a report by Deloitte, leasing and selling real estate are ideal use cases for blockchain technology.

Blockchain technologies frequently outperform conventional systems by, among other things, delivering a near real-time trustless environment in addition to digitizing information. Deloitte, one of the Big Four accounting firms, identified six chances for blockchain to upend the commercial real estate (CRE) sector.

Due to paperless processes, Deloitte envisions blockchain expediting property and payment evaluations and better-streamlining cash flow management. In addition, the technology’s inherent qualities also offer cheaper means of managing property ownership history while enabling efficient processing of financing and payments.

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Alo Yoga, a wellness company, is now on the Web3 and Blockchain

Alo Yoga’s corporate office in Los Angeles, California, has recently been the center of attention. The company has also been making its way into Web3, in addition to fresh style drops that are impossible not to add to the basket. The brand’s clients and customers might now use cryptocurrencies to pay for their purchases as of June 22. The company made it clear that there is still an option to utilize more traditional payment methods like PayPal or a credit card. The company also offered its employees the alternative of receiving their whole or partial wages in the cryptocurrency of their choice.

Alo Yoga’s vice president of marketing, Angelic Vendette, explains, “We are constantly searching for new methods to engage with consumers, and our move into Web3 is mostly because we want to be ahead of the curve.”

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Yuga seeks to protect their “Legacy as Artwork” when CryptoPunks NFT Owners receive commercial rights

Since the initiative made tokenized NFT profile images famous, CryptoPunks has become a household name in the cryptocurrency community and inspired a plethora of copycat projects. We’re beginning to see how the new steward aims to increase the utility of the Ethereum NFTs and advance the brand, though, thanks to a new owner in the form of Yuga Labs, the company that created Bored Ape Yacht Club.

In March, Yuga Labs purchased CryptoPunks and Meebits from the original developer, Larva Labs, along with a substantial quantity of NFTs from both collections. Earlier this year, in June, the company hired Noah Davis, who oversaw digital sales at Christie’s and sold Beeple’s $69 million NFT, to serve as its brand lead and manage CryptoPunks’ future.

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