[Link to FM] OpenSea launched the web3 market protocol Seaport, Taobao 618 will launch metaverse shopping

【Data Intelligence】

Fidelity's Bitcoin Index Fund Invests Over$125 Million

Nearly two years after the launch of the Fidelity Investments Bitcoin Index Fund, growth in onshore investments has fallen year-over-year, the documents show. The Wise Origin Bitcoin Index Fund launched in August 2020, giving Boston-based Fidelity the ability to provide clients with exposure to Bitcoin. Nearly nine months later, the fund has raised $102 million, according to SEC filings. As of May 23, the fund has now raised a total of $126.5 million, suggesting overall growth is slowing compared to the previous reporting period. While the size of the fund grew modestly in its second year, the number of investors has grown from 83 to 689, the latest filings show. Fidelity recently announced that it will allow its customers to allocate a portion of their retirement savings to Bitcoin. The asset manager, which manages about $4.2 trillion in assets, revealed in April that it plans to allow investors to add a bitcoin account to their 401(k)s once employers approve it.

Venture Capital FirmStandard Crypto Raises New $500 Million Fund

Venture capital firm Standard Crypto has raised a new $500 million fund, according toa report from Axios. It is reported that the fund will invest in stocks and cryptocurrencies. In an interview earlier this year, co-founder Alok Vasudev discussed areas of interest for venture capital firms such as NFTs and DAOs, such as Standard Crypto.

【 Regulatory News 】

Russian Court Recognizes Cryptocurrencies as Means of Payment

Two Russian citizens have been sentenced to nine and seven years in prison under a strict regime for extorting from another man 5 million rubles (nearly $90,000) in cash and 55 million rubles (nearly $1 million) in digital assets.During the trial, the St. Petersburg City Court recognized cryptocurrencies as a means of payment, Russia’s RBC reported. Prosecutors are considering the ruling first because the Moscow government has yet to determine the legal status of bitcoin, among other things.

South Korea’s Financial Supervisory Authority is actively reviewing new cryptocurrency regulations related to stablecoins and DeFi

South Korea's financial regulators came together Tuesday to discuss how to addressthe aftermath of this month's TerraUSD stablecoin debacle. The Financial Supervisory Authority (FSS), Fair Trade Commission (FTC) and Financial Services Commission (FSC) shared the latest news following an emergency meeting of the National Assembly, according to local news reports. The FSS revealed that it plans to inspect the premises of companies that provide financial services related to the Terra blockchain following the collapse of the Terra blockchain. These checks will examine the payment services associated with Terra, how the services are maintained, the status of funds withdrawn, and the standards for protecting users. In addition, FSS will develop a research service aimed at analyzing the risks of cryptocurrencies and digital assets circulating on domestic exchanges. The service will then classify those assets based on their risk characteristics. The FSC also announced that it is actively reviewing new cryptocurrency regulations related to stablecoins and DeFi.

【Industry Trends】

Taobao 618 will launch metaverse shopping, and the 3D space screen will be exposed for the first time

According to news on May 25, Taobao has set up a Metaverse special project team to explore shopping and interactive scenarios, optimize virtual shopping venues, and launch Metaverse shopping during the 618 period. Among them, the project team focuses on the link problem of "people and goods yard", to ensure that users can initially realize virtual shopping links on the front end without wearing external devices, and meet the needs of three-dimensional "shopping on Taobao". It is reported that on May 17, Taobao Life has opened the application authority for the "future world resident card" with a unique code for all users, and has carried out digital chain storage. Analysts believe that the "resident card" may be prepared for the construction of a new 3D virtual world.

Immutable X launches cross-rollup, a liquidity solution that can span multiple L2/L3 zk-rollups

The NFT Layer2 protocol Immutable X launched cross-rollup, a liquidity solution that can span multiple L2/L3 zk-rollups, which aims to bring the scalability and composability of NFT to Web3 gamers. It is reported that cross-rollup will not compromise the security of Ethereum, and supports users to seamlessly trade NFT between any rollup. Immutable X will first expand to include composable smart contracts and EVM/Solidity to the StarkNet network.

Brave Browser Integrates with Solana Blockchain to Expand Web3 Access

News on May 25th, official news, Brave released the 1.39 desktop version to integrate the Solana blockchain: Brave Wallet users can buy, sell and store SOL and SPL, and purchase SOL and other cryptocurrencies through Ramp fiat currency; BAT holders can BAT is used on the Solana chain encapsulated by Wormhole and on chains compatible with Ethereum and the Ethereum Virtual Machine (EVM). In the future, BAT holders will be able to trade NFTs on Magic Eden, and Brave Wallet will support DApps on Solana on desktop.

NBA star Durant submits 26 metaverse and NFT trademark applications

On May 24, Michael Kondoudis, a licensed trademark attorney, posted on social media that, according to the disclosure document, NBA star Kevin Durant and his venture capital firm Thirty Five Ventures LLC filed a filing with the United States Patent and Trademark Office (USPTO) on May 19. As many as 26 trademark applications for Metaverse and NFT were filed.

Ethereum development platform Infura partners with NEAR to label extensions as multi-chain connectors

On May 24th, ConsenSys announced that its blockchain development platform Infura has established a partnership with the NEAR protocol. The integration has been in internal testing for two months and is now widely used. This marks Infura's expansion beyond Ethereum Virtual Machine (EVM)-compatible chains, towards becoming a connector in a multi-chain ecosystem while improving the overall developer experience.

【Elite Viewpoint】

Valkyrie Head of Research: Bitcoin Has More Downside Ahead

Valkyrie director of research Josh Olszewicz said on CoinDesk TV that volatility needs to stabilize for bitcoin prices to find a foothold at the bottom in the short term. We can look at the 200-week moving average, which is about $22,000, and look at the average cost of moving tokens on-chain, which is about $23,800. fourth quarter. When it comes to the Bitcoin price recovery, Olszewicz said: This is a marathon, not a sprint.

Founder of Tianqiao Capital: Has bought a large number of ALGO tokens

Anthony Scaramucci, founder of SkyBridge Capital, said that the technology of Algorand, a high-throughput blockchain, is impressive and has bought a large number of Algorand (ALGO) tokens, saying that it is very cheap to buy now. He recommends that investors turn to a dollar cost averaging (DCA) investment strategy, which involves buying for a small cost on a regular basis. When it comes to Bitcoin’s price performance, Scaramucci made no price predictions, saying anything could happen.

【What to watch today】

OpenSea launches web3 marketplace protocol Seaport

OpenSea launches "Seaport, a web3 marketplace protocol for buying and selling NFTs safely and efficiently". The protocol will allow for a more diverse, but also more specific, NFT trading experience, and users will be able to post NFT quotes including ERC20, ERC721, and ETH, not just ETH transactions like OpenSea currently offers. . This means, instead of listing an NFT for a certain amount of ETH, users will be able to list a specific NFT for potential transactions. For example, users can use Seaport to create an offer to exchange Bored Ape for UNI tokens including CryptoPunk, Cryptoadz, and Uniswap.

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