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If currency, art, and gaming are becoming decentralized, why not social media? It was a natural progression, and a novel Web3 social platform called Diamond is taking the lead on the new technology.
Diamond is launching on DeSo, a new blockchain that has raised $200 million from Coinbase, Sequoia and Andreessen Horowitz.
Diamond is the first product ever to enable all posts, profiles, social graphs and content to be hosted on a decentralized censorship-resistant blockchain.
Of course, the project would be incomplete without minted NFTs. Posts on the platform can be NFT-ified and earn crypto tips, along with other rewards.
Google is the latest in a growing list of companies accepting cryptocurrency as payment. Google announced at its Cloud Next Conference Tuesday that it will begin taking crypto as payment for its cloud services as early as next year.
Crypto payments will initially be rolled out to a handful of customers involved in the Web3 industry. Google will also use Coinbase’s custody service, Coinbase Prime.
Due in part to the announcement, shares of Coinbase were up over 5% at $70.76, during pre-market trading Tuesday.
Web3 gaming is becoming more popular as start-ups in the space mint their own NFTs and partner with established brands. Building on the success of the niche, the world’s first web3 live gaming tournament will premier at Instanbul Blockchain Week on Nov. 17.
The event, called W3E, will take place at the ESA Esports Arena in the heart of Istanbul, and will also include game showcases, exclusive announcements from developers, demo testing, and competition.
EV.io, a first-person shooter set in a series of futuristic arenas — and the most popular game on the Solana blockchain — will be the event’s league partner and lead game for the tournament.
For a technology with a $1 billion valuation, the metaverse is seriously underperforming when it comes to daily active users. A new report from data aggregator Dappradar suggests metaverse platforms Decentraland and The Sandbox each have fewer than 1,000 “daily active” users.
Dappradar reported the Ethereum-based virtual world Decentraland had 38 “active users” in 24 hours, while competitor The Sandbox had 522 “active users” in that same time.
However, the data collected was based on wallet interaction with the platform’s smart contract. Meta Platforms countered Dappradar’s claims, stating that many users simply log in and interact with other virtual reality users or attend metaverse events such as a virtual fashion week.
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