Here are some latest developments in the crypto space over the past few days.
French fashion giant Lacoste has introduced innovative digital cards for fans to participate in Web3 community quests to earn rewards. Lacoste said it has created an enthralling gaming experience, called ‘The Mission’ to give its emblematic digital crocodiles a vibrant new life.
The game’s first season spans from June 29 to December 2023, and comprises chapters, each with a distinct purpose. Users can earn reward points as they move up the “leaderboards” by completing missions, raising the rarity of the UNDW3 cards (key to the Lacoste ecosystem).
For players, increased rarity means better prizes, benefits, and asset value. The player with the highest ranking at the end of the inaugural season will earn an all-expenses-paid Lacoste VIP experience in Paris, while top performers will receive digital vouchers.
The fashion house unveiled its digital collection UNDW3 (pronounced “underwater”) in June 2022. UNDW3 is a collection of 11,212 Genesis Pass nonfungible tokens (NFTs) that serve as virtual “golden tickets” to the Web3 game.
Crypto Firms Won’t Leave US Despite Hostility: Merkle Science
Merkle Science CEO Mriganka Pattnaik has offered a “contrarian” take on the regulatory actions against crypto firms, stressing that they won’t vanish from the US anytime soon.
The United States won’t lose its appeal as a hub for the cryptocurrency industry despite recent storylines that imply otherwise, the co-founder of the blockchain analytics company said.
Many top crypto executives have turned their attention elsewhere as a result of a wave of unfavorable regulatory actions taken against crypto firms in the US in recent months. However, Pattnaik believes that, at least in the short term, crypto activity will continue in the US.
“My opinion is a little bit contrarian here, but I do think that five years down the line, the majority of activity will still be in the United States,” he said.
Account Abstraction To Attract A Billion Users From Asia To Web3, ConsenSys
ConsenSys strategic projects director Laura Shi said that Web3 gaming, zkEVM scaling (the equivalent to Ethereum Virtual Machine), and security will boost Ethereum adoption and account abstraction, commonly referred to as “smart accounts”. Shi told Cointelegraph that Ethereum and Web3 ecosystems saw significant growth in Asia this year. She added that more dApps are enhancing UX in the Asian market.
Shi said the introduction of zero-knowledge Ethereum Virtual Machine (zkEVM) rollups and the widespread use of Optimistic rollups are the main factors driving this expansion. With zkEVM provides developers with security, scaling, and direct compatibility with Ethereum smart contracts. Shi believes the advancement of account abstraction, which provides more “bank-like” features and programmable capabilities than a standard crypto wallet, would boost its adoption.