Alibaba Enters Metaverse, Deloitte's Blockchain Credentials, and Sports Illustrated's NFT Tickets!
Alibaba Enters Metaverse, Deloitte's Blockchain Credentials, and Sports Illustrated's NFT Tickets!
1. Alibaba and Sports Illustrated Make Moves into Web3
China's tech titan, Alibaba, has unveiled a metaverse launchpad for brands named Cloudverse, built on the Avalanche blockchain. Meanwhile, Sports Illustrated has introduced an NFT ticketing platform on the Polygon network. Additionally, Sotheby's has launched a secondary art marketplace to allow NFT collectors to trade while prioritizing creator royalties.
2. Deloitte Introduces Blockchain for Digital Credentials
Deloitte has integrated KILT Protocol technology, a Polkadot parachain, to allow customers to store verification credentials in a single digital wallet, streamlining the typically inefficient verification processes. The blockchain integration aims to enhance the efficiency of Deloitte's Know Your Customer (KYC) and Know Your Business (KYB) verification processes.
3. US Banking Crisis Looms as 722 Banks Report Over 50% Unrealized Losses
According to the US Federal Reserve, 722 banks reported unrealized losses exceeding 50% of their capital at the end of Q3 2022. The rising interest rates are leading to significant unrealized losses in investment securities and, in some cases, reducing tangible equity.
4. Ethereum Foundation Sells $30M in Ether – Market Reaction Remains Mild
The Ethereum Foundation has transferred nearly $30M in Ether to the Kraken cryptocurrency exchange. While the event caused some market jitters, the impact has been minimal with ETH price showing a modest recovery.
5. Sports Illustrated Unveils 'Box Office' – An NFT-Powered Ticketing Platform
Sports Illustrated continues the integration of NFT technology with the launch of "Box Office by SI Tickets," a secure, NFT-based ticketing marketplace. The platform is the first global system to offer a complete NFT ticket solution for events of any size.
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