Interest in NFTs Continues to Grow Amidst Crypto Bear Market

Soccer superstar Cristiano Ronaldo is the latest celebrity to collaborate with a digital asset company. On Thursday, he announced an exclusive multi-year NFT partnership with Binance that aims to introduce soccer fans to the Web3 ecosystem. Under the agreement, Binance will create a series of NFT collections with Ronaldo that will be exclusively sold on its NFT platform. [1]

E-commerce platforms Shopify and eBay are also making a push into web3. On Wednesday, Shopify announced an NFT-gated option for brands looking to make their storefronts more exclusive. [2] eBay signed and closed a deal on June 22 to acquire NFT marketplace KnownOrigin, citing NFTs as a significant area of growth for its business. [3]

Voyager shares drop by 60% after disclosing a $660M loan exposure

Shares of Voyager Digital (VYGVF) fell more than 60 percent on Wednesday after the crypto broker revealed it could lose more than $660 million it loaned to hedge fund Three Arrows Capital. [4] On the same day, Voyager Digital shared that its subsidiary, Voyager Digital Holdings, will receive a loan of over $200 million in cash and USDC and 15,000 BTC from Alameda, totaling about $500 million. These funds are intended to “safeguard customer assets” amidst current market volatility. [5]

Cardano postpones Vasil hard fork upgrade

Cardano’s Vasil hard fork upgrade has been postponed to the last week of July due to seven bugs and additional time needed for testing. This hard fork is Cardano’s most significant update since the Alonzo hardfork and comes as part of the network’s long-planned transition to the Basho era, which aims to improve the network’s underlying performance to better support DeFi applications. [6]

Sources

1. Cristiano Ronaldo to Get Football Fans Into Web3 With Binance Partnership
2. Shopify Adds NFT-Gated Option for Online Retailers
3. ​eBay Acquires NFT Marketplace KnownOrigin For an Undisclosed Sum
4. Voyager Digital Stock Plunges After Disclosing Over $660M Exposure to Three Arrows Capital
5. Voyager Digital Secures a $500M Credit Facility Loan From Alameda Following 3AC Fiasco
6. Cardano Delays Vasil Hardfork Due to Pending Bug Fixes

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