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  • Celsius crypto firm files for Chapter 11 bankruptcy protection

    Celsius crypto firm files for Chapter 11 bankruptcy protection

    Celsius had filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York.

    The company said it would continue to operate, noting it has $167 million in cash on hand, which will provide ample liquidity to support certain operations during the restructuring process but said that it was not requesting authority to allow customer withdrawals at this time. Customer claims will be addressed through the Chapter 11 process.

  • Polygon joins Disney’s ‘accelerator program’ to develop AR, NFT and AI experiences

    Polygon joins Disney’s ‘accelerator program’ to develop AR, NFT and AI experiences

    Ethereum scaling tool Polygon is continuing to scale its Web3 infrastructure via a new project with media conglomerate the Walt Disney Company.

    Polygon is one of six companies selected to participate in Disney’s 2022 Accelerator program. The program, which begins this week, is looking to develop new technologies within augmented reality (AR), non-fungible tokens (NFTs) and artificial intelligence (AI).

  • Cardano’s ADA payments now available to 7 million businesses via this plug-in

    Cardano’s ADA payments now available to 7 million businesses via this plug-in

    As shared by the COTI Network team, an ADA Pay Plugin is now live on Odoo, an open-source solution for business applications with more than seven million users ranging from start-ups to large enterprises.

    As explained in a blog post, the ADA Pay gateway solution remains one of the basic steps in bringing ADA to the masses. Built on the Cardano blockchain, the ADA payment system for enterprises helps merchants accept ADA as a payment option with quick settlement.

  • Solana dApps now supported by Brave Browser

    Solana dApps now supported by Brave Browser

    Cryptocurrency-focused internet browser Brave has added support Solana-based decentralized applications in its version 1.41, according to an announcement published earlier this Tuesday.

    The most recent integration in the new version of the browser opens the door to more accessible avenues for decentralized finance and Web3.

  • Businesses can now accept SHIB for fiat directly through this feature

    Businesses can now accept SHIB for fiat directly through this feature

    NOWpayments, the SHIBA INU-friendly crypto payments processor, continues to expand support for the meme cryptocurrency.

    This time, in partnership with Switchere crypto exchange, NOWPayments has launched an auto-conversion feature that would enable its merchants to exchange their SHIB funds for fiat directly without any intermediary transactions.

  • Shanghai allocates $1.5 billion to Metaverse development fund

    Shanghai allocates $1.5 billion to Metaverse development fund

    Shanghai allocates $1.5 billion to Metaverse development fund

    The city of Shanghai aims to lead China’s economic recovery by backing development in metaverse products and services, low-carbon energy projects and smart terminal technology.

    The South China Morning Post reported that the Shanghai government planned to establish an industry fund of 10 billion yuan in assets, or nearly $1.5 billion, dedicated to metaverse development.

  • STEPN to buy back and burn GMT using a portion of its $122 million Q2 earnings

    STEPN to buy back and burn GMT using a portion of its $122 million Q2 earnings

    STEPN, a Solana-based game that rewards users with cryptocurrency for walking or running, announced Tuesday that it has earned $122.5 million from platform fees in the second quarter of 2022.

    5% of those earnings will go toward buying and burning Green Metaverse Token (GMT), the game’s governance token that users earn after reaching level 30.

  • Solana-based STEPN reports $122.5 million in Q2 profits

    Solana-based STEPN reports $122.5 million in Q2 profits

    STEPN, a Solana-based game platform, reported $122.5 million in second-quarter profits even as crypto market conditions have declined in the past few months, the team said in a Medium post Tuesday.

    The “move to earn” project brought $26 million in Q1, as previously reported. This means that the second-quarter profits have increased by 5 times the first-quarter profits.

  • Helium stopped working for 4 hours

    Helium stopped working for 4 hours

    The Internet of Things (IoT) blockchain Helium shut down for about 4 hours on Monday due to validator outages from a software update, causing delayed transaction finality.

    During the outage, devices transferring data over the network were not affected, but miner rewards and token transfers were left pending. The team resolved the issue by skipping the blockchain forward by one block and resuming normal functions.

  • Playboy to launch first ‘MetaMansion’ in The Sandbox

    Playboy to launch first ‘MetaMansion’ in The Sandbox

    Iconic and raunchy “lifestyle brand” Playboy has teamed up with NFT-based Metaverse gaming platform The Sandbox to launch the MetaMansion.

    The MetaMansion also builds on Playboy’s Rabbitars NFT project, which consists of 11,953 tokenized bunny avatars that went for around $800 apiece in October 2021. Hodlers of these NFTs will soon be able to access exclusive experiences at the virtual mansion.