Last Week’s Cryptocurrency News. Friday, November 4th

Friday, 4th of November. As the week comes to an end, we can focus on the highlights of the crypto industry over the past few days.

Creators of STEPN launch MOOAR NFT marketplace

Find Satoshi Lab, the Australia-based developer of the M2E project STEPN, has released Mooar, an NFT marketplace. 

Both Ethereum and Solana tokens are supported by the platform. What’s unique about the Mooar Marketplace is its subscription model – users will pay $30 a month for a membership. 

There will be no commission fees on the platform, and GMT token will act as the unit of account. 

While rival websites opt out of mandatory royalties, Mooar will charge between 0.5% and 10% for the benefit of NFT creators.

Mooar also features its own NFT Launchpad for new projects from third-party creators, which GMT holders will vote on.

Prior to that, Find Satoshi Lab introduced its own decentralized exchange, DOOAR. As the studio goes forward, it expects to develop a number of additional applications based on the GMT token. 

As you may remember, the STEPN game, powered by Solana and BNB Chain, gained popularity in the spring of 2021. It allows you to receive rewards in GST and GMT tokens just by walking or running. To do this, users need to purchase sneakers in the form of NFTs.

As reported by the project team, the platform saw revenues of $122.5 million in the Q2 2022.

Zipmex offered $100 million rescue package in return for 90% stake

Financially struggling Thai crypto exchange Zipmex is on the verge of signing a $100 million rescue deal with an incumbent investor so it can save the business. This was reported by The Block.

V Ventures, a venture capital firm, is willing to provide funds in exchange for a 90 percent stake in the trading platform, according to the publication. Founded by the son of local billionaire Prayudh Mahagitsiri, his company is the current investor in Zipmex.

There are plans for V Ventures to close the deal on Nov. 4 when final terms are agreed upon, The Block clarified according to a source with knowledge of the situation.

Among the conditions is the agreement of the top management of the stock exchange to three-year employment contracts with the inability to leave the company during this period. Likewise, it requires co-founders Marcus Lim and Akalarp Yimwilai and chief marketing officer Proud Limpongpan sign personal guarantees to make good any losses V Ventures may suffer.

The parties declined to comment on personal commitments. Reporters say Limpongpan “made it clear” to V Ventures that she would not sign the guarantee.

At the end of this July, Zipmex suspended withdrawals, citing a “combination of circumstances” beyond its control. After a couple of days, the platform partially resumed operations.

Then, the company announced negotiations with an unnamed “third party” to “save” the business. Zipmex attributed the liquidity deficit to problems of its counterparts, Babel Finance and Celsius Network. Their liabilities totaled $5 million and $48 million, respectively.

The exchange also filed for protection from lenders in a Singapore court. As of August 15, the platform succeeded in extending the moratorium until December 2.

It should be reminded that the SEC of Thailand filed a complaint with the police against Zipmex and Yimvilai.

Coinbase Wallet users now get the staking feature on the Ankr platform

Web3 infrastructure provider Ankr announced the support of Coinbase Wallet for liquid staking. This was reported to ForkLog by the project officials.

According to them, customers are able to earn income on the Ankr Staking platform based on the assets held in the wallet. You need to link the exchange account to Coinbase Wallet, and then to the staking solution.

The Product Head of Ankr, Josh Neuroth, stated that “having the ability to connect a Coinbase Wallet was one of the most hotly requested features for Ankr Staking. And that’s a testament to how many people find the wallet useful for interacting with Web3 and DeFi every day.”

Individuals will be able to keep track of assets directly on the platform dashboard or the DeFi tab in the wallet. It makes things easier to interact with Coinbase Wallet by having a dApp browser.

In fact, nine different tokens are supported by Ankr. Ankr (ANKR) and Gnosis (mGNO) can be used in “delegated staking”, whereas Ethereum (ETH), Polygon (MATIC), Binance Coin (BNB), Fantom (FTM) and Avalanche (AVAX) are used for a liquidity one.

Coinbase Wallet users are rewarded automatically every day. They can use their holdings in the wallet to bring in additional income through third-party DeFi platforms, such as via:

  • liquidity mining;
  • participation as an LP;
  • farming and trading opportunities.

As stated, Ankr maintains more than 50 PoS networks and processes more than 2 trillion transactions per year. In addition, the company is a leading provider of infrastructure solutions for the BNB Chain, Fantom and Polygon ecosystems.

NFTBank to provide MetaMask with NFT price data

The MetaMask team selected NFTBank as the provider of pricing information for non-fungible tokens drawn from the more than 5,000 collections available to the wallet users. This was reported to ForkLog by the project officials.

NFT pricing is a tricky problem, they noted: each asset is unique as well as the transaction data is extremely limited.

Machine learning-based static algorithm is used in the tool from NFTBank. It uses information such as floor price, rarity and bid/ask distribution to compute a single price value claiming an over 90% accuracy.

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