This week’s top-5 stories curated to catch up with the crypto world.

Nike unveils first Web3 project Bengaluru introduces worlds first airport metaverseNike WEBSITE
Bitcoin and Crypto Market News Friday, November 18, 2022 - 19:32

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Everyone wants this to get over, but it looks far from over. Yes, we are talking of FTX and nothing else. Apart from going down in one large swoop, FTX has also extended its effects on some unintended recipients. This is now known as contagion. Coinbase Chief Financial Officer Alesia Haas said the full effect of the fallout was yet to come out. As we wait for more news, hopefully of some recovery, these are the major topics that we cover this week:

Nike launches first Web3 project 

Footwear giant Nike is stepping into the world of Web3 with the release of Dot swoosh (.SWOOSH), a new platform geared towards building a community around its digital wearables.

Dot swoosh will serve as a platform for trading and purchasing digital items like virtual sneakers and jerseys as well as a resource for Web3 education.

The platform, which serves as the hub of Nike's digital endeavors, is intended to highlight the company's NFTs and virtual apparel initiatives, as well as potential paths for consumers to become co-creators and share in digital product royalties.

Dot swoosh is currently in beta and is opening up its registration by the end of November ahead of its first collection drop in 2023.

First airport metaverse takes flight in India   

The first metaverse airport based on the Polygon blockchain, Metaport, has been launched at Kempegowda International Airport in Bengaluru, India.

In a digital replica of Terminal 2 at Bengaluru International Airport, Metaport users can communicate with other travelers, access entertainment, and make purchases online. A user can log in to the Metaverse airport, change the appearance and attire of their avatar, and then explore the virtual environment.

The Metaport arrives months after Polygon was roped in to bring Web3 to the aviation industry. Polygon joined the Joint Innovation Centre (JIC) pioneered by Kempegowda International Airport, Bengaluru, along with Amazon Web Service (AWS) and Intel India in June 2022.

Binance establishes industry recovery fund

Cryptocurrency exchange Binance is setting up a fund to help potentially strong projects that are experiencing liquidity challenges as the consequences of the FTX crisis continue to negatively impact the markets.

Binance CEO Changpeng Zhao said that the fund aims to reduce the cascading negative effects of the collapse of FTX by helping projects that are strong but in a liquidity crisis.

Zhao also clarified that the project is for other potentially strong projects and not ones like FTX, stating that “liars or fraud” would never qualify.

Other players in the industry also showed their support for the Binance recovery fund, including Tron founder Justin Sun. He said that Tron, Huobi Global, and Poloniex would support the initiative. 

Crypto payments with USDC now available on Apple Pay

Circle, the company behind the US dollar-pegged stablecoin USD Coin USDC, has added support for Apple Pay in an effort to integrate cryptocurrencies and conventional payment methods more closely. 

Circle said that Apple has enabled crypto payments that will be using stablecoin on their payment platform. The addition of Apple Pay support will benefit traditional businesses by allowing them to shift more retail payments to digital currency.

The move is expected to help build the future of commerce by boosting businesses' sales and making payments faster, easier, and more secure.

Following instances of stablecoins crashing, USDC seems to increase investors' faith in stablecoin as Apple’s entry will help boost adoption across its wide range of existing users. 

Cristiano Ronaldo launches first NFT collection   

Football icon Cristiano Ronaldo has launched his first NFT collection as part of an exclusive, multi-year partnership with Binance.

The collection will feature seven animated statues with four rarity levels: Super Rare (SSR), Super Rare (SR), Rare (R), and Normal (N). Each NFT statue depicts Ronaldo in an iconic moment from his life, from career-defining bicycle kicks to his childhood in Portugal.

The launch is supported by a global marketing campaign featuring Ronaldo, aiming to give his fans an introduction to Web3 through the world of NFTs, just ahead of the Fifa World Cup 2022 in Qatar.

The crypto exchange said that future sets of the Cristiano Ronaldo NFT collection will be available in early 2023.

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DisclaimerThis article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.

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