It seems like Phantom is really changing things up in the crypto space, huh? Instead of focusing on possible speculative token launches, they're putting their energy into social discovery features. This shift could really impact how we engage with digital assets in the future. Here’s the lowdown on what’s happening.
Phantom Shoots Down Token Airdrop Whispers
Phantom, known for its non-custodial crypto wallet, has been in the spotlight lately for denying any rumors about launching a token airdrop to coincide with its new social discovery feature. They made it clear in a post on X that it’s all about the social discovery and that they’re not planning to release a token. Pretty bold move, right?
The social discovery feature, which will roll out on December 19, allows you to create profiles, connect with friends, and adjust privacy settings from public to invisible. This is a major focus on user experience, aimed at making it easier to discover new cryptocurrencies and decentralized applications. It’s definitely a bold step towards establishing Phantom as the ultimate crypto hub, wouldn’t you say?
Phantom is also looking to broaden its ecosystem. They plan to integrate the Sui blockchain into their platform, which would be their fourth blockchain after Bitcoin, Ethereum, and Solana, starting in early 2025. This is likely to attract more users, considering they had 7 million monthly active users last April.
Still, all wasn't smooth sailing. Phantom developers recently had to issue an emergency update for iPhone users after some users got locked out of their wallets due to app resets, with one user losing close to $600,000. But it seems Phantom is undeterred by such setbacks, continuing to enhance its offerings, including services for securing NFTs.
PUBG Creator Rejects NFTs in New Metaverse Vision
Meanwhile, Brendan Greene, the mastermind behind PUBG, has also made waves with his new metaverse vision named “Artemis.” According to him, NFTs are unlikely to be involved. In an interview with IGN, he made it clear that he’s not interested in the speculative side of things and has other priorities.
Greene believes that building a great virtual engine for gaming should take precedence, rather than jumping on the NFT bandwagon. While he acknowledges that blockchain technology could be useful down the line, it’s about delivering solid gaming experiences for him.
He’s critical of other metaverse projects that don’t seem to deliver, aiming to create a “3D internet” where creators can build and interact across connected worlds. Drawing from inspirations like Minecraft, Greene is gearing up for a project that may redefine the way we see the metaverse.
Coinbase Ventures into Tokenized Shares
Oh, and Coinbase is also in the mix, contemplating offering tokenized shares of its stock to US users via its Ethereum layer-2 network, Base. Jesse Pollak, a developer from Base, shared this on X, mentioning that they’re exploring this possibility despite regulatory uncertainties in the US being an obstacle.
Coinbase has noted that tokenized real-world assets could be a major opportunity. Despite the current market conditions, the interest in tokenized shares is real, especially considering the recent gains COIN stock experienced after Donald Trump’s election win.
Despite the optimism, the regulatory runway in the US is a different story. With the SEC's aggressive stance on crypto, it’s not as easy for them as it might be elsewhere.
Community Calls Out Aave's Price Pegging Proposal
And then there's Aave, with a proposal that's raising eyebrows too. Some are questioning a new proposal suggesting to hardcode the price of Ethena’s USDe stablecoin to match Tether’s USDT to prevent market fluctuations. The idea is to protect users from liquidation risks but it has received significant pushback.
Critics are voicing concerns about undermining some core principles, while some are suggesting to directly peg it to $1 to avoid even the slightest price deviation. At this stage, it remains under discussion, with no formal vote yet.
In essence, Phantom’s shift towards social discovery features can lead to a more user-centered and secure crypto ecosystem. This could position them as a frontrunner in the ultimate crypto hub, setting an example that others might follow.
