How can web3 drive innovation?

The possible applications of web3 in the real world also account for prominent highlights in web3 FAQs, and the opportunities are endless. Web3 can set the stage for innovation with the emphasis on DAOs, which can drive a new generation of businesses. DAOs can resolve the concerns of competition with big tech giants by leveling the playing field. Furthermore, DAOs can also fuel community-driven action and engagement. 

As a result, web3 can facilitate prospective growth for innovation in strategies for crowdfunding, decentralization of control, and initiating global social movements. The abilities of web3 to empower users with true data ownership can also present viable options for open banking. In addition, web3 apps can also leverage smart contract functionalities for revising many supply chain management processes, what are your thoughts on this matter.

FTX spent $74 million on real estate in the Bahamas this year: Exclusive

Now-bankrupt crypto exchange FTX Group went on a real estate splurge this year, according to government documents obtained by The Block and confirmed by two former FTX employees. The bulk of that money, $67,440,193.99, went to entities surrounding Albany Bahamas, a luxury condo resort in New Providence.

 FTX is known for its unique communal setup in the Bahamas, where teammates at the firm and other companies with ties to FTX work and live side by side. The Caribbean luxury oasis is striking, considering Bankman-Fried’s commitment to effective altruism and much-promoted indifference to the trappings of wealth. For reference, the Bahamian dollar is pegged to and maintains parity with the U.S. dollar.

#web3news – Apple is building a rival to the metaverse

Apple is looking for a software producer to create VR content. Further, it wants to build a video service for playing back 3D content in VR. Another posting points to Apple’s AR headset taking advantage of App Intents to work with Siri, Shortcuts, and Search. Interestingly, one job posting talks about creating a 3D mixed-reality world. The latest Power On newsletter highlights the position’s requirements to “build tools and frameworks to enable connected experiences in a 3D mixed-reality world.”. In early January 2022, a report claimed that Apple was not interested in building a complete virtual world for its AR headset. So, while the company might build a 3D mixed-reality world, its approach could be different from that of the metaverse.

India Has The Third-largest Web 3.0 Workforce In The World 

India presently has 11% of the world’s Web 3.0 talent, according to a recent research by the National Association of Software and Services Companies (NASSCOM), a non-profit organization with over 3,000 members. With approximately 75,000 blockchain professionals working there today, India is the third-largest Web 3.0 workforce in the world according to this statistic. The industry association also forecasts that during the following two years, the skill pool will increase by nearly 120%

STEPN denies claims of layoffs

Move-to-earn gaming company STEPN (GMT) on Oct. 13 denied claims of laying off staff. News about STEPN layoffs was published on Oct. 12 by the Twitter account Wu Blockchain, which cited community sources. The information claimed that STEPN would lay off over 100 of its staff.

In addition to reporting an upcoming firing spree from STEPN, Wu Blockchain claimed that STEPN’s parent company, Find Satoshi Lab, would reduce investments in STEPN. Citing the same community sources, Wu Blockchain said Find Satoshi Lab would re-direct its investments on STEPN to promoting itself and upcoming new projects, like its new NFT exchange platform. The STEPN spokesperson didn’t make any comments on whether this information was accurate or not.

Virtual real estate offering Celebverse goes live on Metaverse

Celebverse, a virtual real estate offering exposure to the burgeoning industry via Metaverse, has now gone live. It is the revolutionary step towards Metaverse, providing users with the privilege to purchase parcels around celeb’s Metaverse Land. With the freedom, individuals around the globe can now enjoy their choice neighbourhood. Talking about it, Yogesh Dixit, Head of Operations, Asia Pacific, Celebverse said: “We aim to create an ecosystem where people can test their imaginations’ limits, enjoy the rights from minting a city to owning citizenship in their favourite celeb or brand city. Characters of Celebverse will be upto 85 percent of human reality.”.

Web3 is the solution to Uber’s problem with hackers

Centralized databases on Web2 are a honeypot for hackers. Decentralizing data on Web3 eliminates a major vulnerability for companies like Uber. Uber is a staple of the gig economy, for better or worse, and a disruptor that once sent shockwaves throughout the mobility space. Now, however, Uber is being taken for a ride. The company is handling a reportedly far-reaching cybersecurity breach. According to the ride-hailing giant, the attacker has not been able to access sensitive user data — or at least, there is no evidence to suggest otherwise. Whether or not sensitive user data was exposed, this case points to a persistent issue with today’s apps.

Indian Exchange WazirX Feels the Pinch, Lays off 40% of Workforce

WazirX, a top Indian Crypto exchange on Saturday cut its workforce by 40% following the prolonged crypto downturn. Reports revealed that about 40-70 employees of the company’s 150 workforces were affected by the decision. The affected workers would still receive payment for 45 days.

WazirX has credited its decision to the current bear marker. According to the firm, Indian crypto regulatory issues like taxes, regulations, and banking access have contributed to a decline in crypto trading volumes on Indian exchanges. Reports revealed that workers in positions like Managers, Analysts, Associate Managers, and Team Leaders of departments like HR, Customer Support, Public Policy, and Communication were affected. WazirX stated that the staff reduction will help it weather the crypto winter.

Bitcoin and Gold Contenders to Outperform as Fiat Currencies Devalue

According to Bloomberg Intelligence, the outlook for the rest of the decade favors assets such as Bitcoin and gold. Strategists compared the two to the rest of the commodity market as the end is in sight for the Federal Reserve’s aggressive tightening. Assets such as Bitcoin and gold could be the beneficiaries according to analysts.

A cost of living crisis means that all but the very wealthy have less money to spend on investments such as crypto or gold. However, when the world finally emerges from this recession, they could be the go-to investments. The more volatile BTC has lost 57% since the beginning of the year, but gold is also down 11% in the same period. Zooming out to a longer-term two-year picture shows that BTC is up 87% whereas gold has lost almost 13%. Another factor to consider is the current currency conundrum as fiat currencies lose their value.