Markets & Business
Bored Ape Yacht Club creator Yuga Labs part of SEC probe into NFT market (2 minute read)
The SEC began investigating NFTs in March to determine whether any projects go against federal securities laws. While Yuga Labs is included in the investigation, the agency has not accused the company of any wrongdoing. Yuga Labs says it is committed to fully cooperating with any inquiries. The SEC has chosen to regulate by enforcement rather than clarify its position on which cryptocurrencies are securities.
Innovation & Launches
OpenSea launches NFT marketplace on Avalanche (2 minute read)
OpenSea has launched natively on Avalanche. Users on the Avalanche marketplace will be able to settle NFT transactions in under a second with low transaction fees. The marketplace launched with 10 featured Avalanche-based projects. Avalanche added OpenSea due to demand from its community and business partners.
New Metis Rollup Tech Addressees Ethereum Scalability for Businesses (3 minute read)
The MetisDAO Foundation has released Smart L2, an Optimistic rollup technology that addresses scalability for business. Optimistic rollups trust that transactions are valid. People watching the network have a week to challenge potentially fraudulent transactions. If a transaction is challenged, the rollup runs a fraud proof to verify the transaction. Metis’ new Smart L2 Optimistic Rollup makes it easier for validators and proofs to find, challenge, and approve transactions.
Guides & Resources
EIP 4337 (5 minute read)
One of the major shortcomings of Ethereum is its complicated user experience. EIP 4337 is a proposal for making the user experience better through account abstraction. Account abstraction lets people use Ethereum without knowing the underlying processes. This Twitter thread explains in detail how EIP 4337 brings account abstraction to Ethereum and the benefits that it will bring to users.
A list of 10 amazing GitHub repositories (3 minute read)
There are over 128 million repositories on GitHub. This Twitter thread presents a list of 10 repositories for web3 and blockchain developers. The repositories on the list contain resources, developer roadmaps, and example projects.
This startup is building a web3-friendly app store for developers (3 minute read)
Apple's 30% tax on developers has turned web3 startups against it. Major NFT marketplaces only allow users to browse listings through their apps to avoid the fee. Magic Square is building an app store that lets developers list projects vetted by a DAO. Instead of taking a tax on in-app purchases, the marketplace will take a 10% cut from developers' campaign budgets. 250,000 people have signed up to test Magic Square's upcoming beta.
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