NFT

NFT Bytes – Everything you need to learn about NFTs!

The crypto space is expanding at an exponential rate and to make the most out of these opportunities, people need to be educated. Luckily for us, Blockchained India has taken it upon itself to hold several virtual events catering to different avenues in crypto and educate people about the latest developments. 

Blockchained India hosts these events on Initialize Metaverse, a six-month conference organized by the collaborative efforts of Terra Luna and Draper Dragon fund, with Polygon Network as the ecosystem partner. With this conference, Blockchained India aims to explore the growing world of DeFi, NFTs, GameFi, DAOs, Identity Management, etc. and their correlation to the metaverse. The team is here with the next event in the line – NFT Bytes. 

NFT Bytes by Initialize Metaverse

NFT Bytes is the next event on the list and will include understanding the immersive NFT space and the different utilities behind the digital assets. The expert panel will discuss the future of the NFT industry and how digital creators can use this opportunity to expand their services. The agenda for the meetup includes: 

  • 5:00-5:10: Welcome Session
  • 5:10-5:30: Talk on Going Beyond the PFP: The Broader Potential of NFTs by Anuj Kodam, Co-Founder & CEO, Wall App
  • 5:30-6:10: Panel discussion on “NFTs: Is it a FAD or long term trend?”

The panel will be hosted by Sameer Malik, Partner Chain Assets Capital

Speakers for the panel:

1. Raghav Gupta, Founder Nova DAO

2. Yoel Aryeh, Co-Founder, The Meta Organization

3. Joshua Mapperson, Head of Communications & Ecosystem Development, RockX

  • 6:10-6:30: Networking Session 

Blockchained India is the largest and oldest crypto network working towards the adoption and promotion of Web 3.0 in India. One of the ways they achieve this is by organizing free knowledge sharing sessions to educate Indians about the potential of blockchain technology, NFTs, DeFi, GameFi, etc. Blockchained India has been hosting several meetups as a part of Initialize Metaverse in the last six months and is here with its next meetup on the agenda called NFT Bytes.

Gucci to start accepting $BTC, $SHIB, $DOGE & More!

The fact that renowned international clothing and fashion brands are now accepting digital currencies as payment mode and participating in blockchain technology, NFTs, and Metaverse is proof enough of the massive growth of digital currencies. 

Gucci, the international fashion brand, recently announced its plan in Web 3.0 to accept crypto payments in selected US stores by the end of this month. The high-end luxury fashion brand will also extend this service to its other stores in North America by this summer. 

What to expect?

According to the sources, in-store payment will be accepted as crypto, starting with Bitcoin, Shib, Dogecoin and more, using a link that will be sent to customers using email. The customer must scan the QR code using their digital wallets to make the purchase. 

As per the news, the first Gucci stores to accept crypto payments are Wooster Street in New York, Rodeo Drive in Los Angeles, Miami Design District, Phipps Plaza in Atlanta, and The Shops at Crystals in Las Vegas.

Vogue, the American fashion and lifestyle magazine, also mentioned, 

“Gucci will accept payments in more than 10 currencies, including Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Litecoin, Shiba Inu, and five stablecoins pegged to the US dollar. It will also accept Dogecoin, a “meme” cryptocurrency originally created as a joke.“

Marco Bizzari, the President and CEO of Gucci, also released a statement, 

“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers. Now that we are able to integrate cryptocurrencies within our payment system, it is a natural evolution for those customers who would like to have this option available to them.”

Gucci is one of the early adopters of crypto and Web 3.0 to target Gen Z. The brand has been interacting with the metaverse for the last year and also recently collaborated with Superplastic to release a collection of 500 NFTs to take its crypto approach a notch further. 

A New Stablecoin in town – USDD by Tron

Stablecoins have become growingly popular because of their resistance to crypto volatility. Several centralized institutions and MNCs are more friendly towards stablecoins than mainstream cryptocurrencies and aim to integrate them with their traditional financial services. 

Considering this widespread adoption, the number of stablecoins in the market has increased tremendously. Currently, stablecoins represent 10% of the total crypto market capitalization. In this already crowded market, a new player has entered the town called USDD, which is backed by Tron’s native token, TRX. 

USDD – Tron Network

Tron is a decentralized project and the world’s fastest-growing public chain that boasts over 88 million accounts and 3 billion transactions. The founder of Tron network, Justin Sun, recently announced that the project would launch a decentralized algo-stablecoin called USDD. This decision was outlined as an open letter to Tron DAO, and according to the reports, the launch will take place on May 5. 

“When USDD’s price is lower than 1 USD, users and arbitrageurs can send 1 USDD to the system and receive 1 USD worth of TRX. When USDD’s price is higher than 1 USD, users and arbitrageurs can send 1 USD worth of TRX to the decentralized system and receive 1 USDD.”

Sun

USDD will be backed by TRX, the native token of Tron that gained 8.7% after the announcement. Moreover, the token will represent an evolution from the previous Tether stablecoin that utilizes Omni and Tron networks, including Ethereum. 

It would be interesting to note how USDD will mark its position in the crowded and competitive stablecoin market where UST and Terra have already established a leadership position. However, USDD being an algo-stablecoin, already has an advantage. In algo-stablecoins, the supply and demand of the token are utilized to maintain the price stability of the token. 

Moreover, Tron DAO will manage the supply of the stablecoin by administering a reserve with a 30% interest rate. These attributes make USDD a strong contender prior to the launch. 

Terra and Frax Backed 4pool locks $31M on Fantom Network

4pool, a curve-based yield farm, is now live on the Fantom network ahead of its launch on the mainnet Ethereum. 4pool is one of the few yield pool projects that Frax has recently started supporting in its new initiative. 

The project comprises two decentralized stablecoins, FRAX by Frax and UST, along with two centralized stablecoins, USDT and USDC. 4pool aims to improve the utility of Terra’s UST stablecoin by partnering with Redacted Cartel, a tool for earning yields on locked tokens and the Frax network. 

According to the recent Curve data, 4pool on Fantom has locked up over $31 million in value after launching. Moreover, 4pool witnessed over $2.4 million in trading volume hours after launch. The pool is also paying out a daily yield of 0.5% after it was created using a governance vote on Curve. According to the data, the pool currently holds $9.7 million worth of FRAX tokens, $84 million worth of USDC, $4.9 million worth of Terra’s UST and $7.9 million in Tether USDT. 

Network operability of 4pool

4pool will initially test on Fantom and Arbitrum networks before launching on Ethereum. Regardless of the launch on Ethereum, 4pool aims to become one of the most liquid trading pools on Curve, the biggest decentralized finance platform on Ethereum, with $21+ billion in value locked. 

All the pools currently deployed on Curve are backed using centralized and decentralized stablecoins, wrapped tokens or using a basket of various assets. 4pool takes a unique approach by combining UST and FRAX, the two largest decentralized stablecoins with total backing of nearly $20 billion. Moreover, 4pool also relies on the two largest centralized stablecoins, USDT and USDC, with total backing of $133 billion, making it the most liquid decentralized pool in the entire crypto ecosystem. 

“FRAX and Terra look forward to supporting all the projects that use 4Pool for their stablecoin yield & liquidity needs,”

Sam Kazemian

Init Metaverse: DeFi Bytes by Blockchained India

The massive digital space that has opened up new exciting opportunities for various industry verticals has entered the physical realm. There are several exciting events being held around digital assets, blockchain technology, DeFi, NFTs, and more that allow enthusiasts to interact with like-minded individuals while growing exponentially. 

Blockchained India, a unique initiative that aims to educate Indians about the potential of blockchain technology is hosting an exciting DeFi Bytes event catering to the metaverse and growing DeFi space as a part of its Initialize Metaverse campaign. 

Initialize Metaverse is a six-month virtual conference that is being organized by the collaborative effort of Terra Luna and Draper Dragon Fund with the blockchain network Polygon as the ecosystem partners. The conference explores the expansive industry of DeFi, DAOs, NFTs, Identity Management, GameFi, and more with a special focus on their contribution to the metaverse. 

DeFi Bytes

DeFi Bytes is a meetup aimed at understanding the new trends in the DeFi space and how new users can participate in the new opportunities. 

The meeting is scheduled to be held on the 22nd of April, Friday, and here is the agenda for the meetup:

  • 5:00 – 5:10 pm: Welcome Session
  • 5:10 – 5:30 pm: Talk on “Importance of Governance Tokens in DeFi”
  • 5:30 – 6:00 pm: Panel on ” Borderless Finance: DeFi for the rest of the world”

The speakers for Borderless Finance: DeFi for the rest of the world panel, hosted by Raghav Bhel, ‘Crypto Guy’ are:

1. Tejas Chitnis, Co-Founder & CEO, Cryption Network

2. Sameep Singhania, Co-Founder, QuickSwap

3. Siddharth Patil, Co-Founder & COO, Comdex

4. Zhulin Chen, Co-Founder & CEO, RockX

  • The next panel is 6:00 – 6:30 pm: Panel on ” Why DeFi is a viable alternative to TradFi”. 

This panel is hosted by Sameer Malik, Partner, Chain Asses Capital, and will include:

1. Sanat Kanpur, Investment Analyst, Spartan Group

2. Amitej Gajjala, Founder & CEO, Stader Labs

3. Venkatesh Karanalu, Co-Founder & CEO, Pontoon Finance

4. Aanchal Thakur, Co-Founder & CEO, Spherium Finance

The last agenda on the meetup is 

  • 6:30 – 7:00 pm: Networking Session

Here is what Deepansh S, Co-Founder & COO of Polkadex has to say about the meetup, 

“As a truly cross-chain decentralized exchange with a focus on interoperability, Polkadex is designed to become the trading engine of the Web3 environment and an essential DeFi building block in the metaverse. We’re excited to sponsor Initialize Metaverse and  partner with the project to help bring together innovators who are working to enable mass adoption of Web3 in India and beyond.”

Deepansh S

The DeFi Bytes meetup is going to be an exciting event where the users can learn everything they need about the DeFi space. The event is free of cost and will be online. Moreover, the recording will also be shared on social channels.