Another exciting week has arrived in the crypto, NFT and web3 space.
In the headlines, Bitcoin hit $32,000 for the first time in two weeks, and although the “crypto winter” is looming, the industry seems to be pushing. Here are the leading industry headlines of the week.
Fidelity announces plans to offer Ethereum trading and custody services
About a month after announcing the adoption of Bitcoin in its retirement plans, Fidelity Investments is expanding its offerings to the Ethereum network. Additionally, Fidelity’s subsidiary, Fidelity Digital Assets Services LLC, is preparing to expand its technical team and recruit more than 200 additional professionals, including engineers, developers, and customer service representatives.
“We try not to focus on dips and certain long-term metrics like customer demand,” said Tom Jessop, head of Fidelity Digital Assets. “We’re trying to build infrastructure for the future because we measure success over years and decades, not weeks and months.”
New techniques to know this week: May 31 to June 6, 2022
MoneyGram partners with Stellar XLM
MoneyGram International, Inc., one of the world’s most comprehensive money transfer services, has announced a partnership with the Stellar Development Foundation to raise funds and payments in multiple currencies.
Using USD Coin (USDC), a stablecoin managed by Coinbase and Circle, MoneyGram will allow customers to convert money in and out of USDC for instant withdrawals at MoneyGram locations. MoneyGram plans to launch this special program by the end of 2022.
Shytoshi Kusama presents a 3D avatar and a collection for a new game produced by PlaySide
Sadly, fans of the popular altcoin known as Shiba Inu can rejoice for a brief moment as Shytoshi Kusama, the mystery behind the crypto project, mocks the upcoming gaming collaboration with PlaySide Studios.
After announcing its partnership with PlaySide Studios in early 2022, Shiba Inu owners are sitting on the edge of their seats awaiting updates. For multiple reasons respectively. Holders will not only participate in immersive gaming opportunities, but also become part of a larger mission: to burn Shib’s token supply in hopes of creating more demand. However, no details were disclosed as to whether the trading card game will include coin burning mechanics.
It looks like most of the Shiba Inu mobile games will be released by the end of 2022.
DraftKings working on cryptocurrency adoption
In a recent podcast, CEO Jason Robins shared that DraftKings is currently trying to accept cryptocurrency as a form of payment on the platform.
“Of course people want that. Of course, we should be able to do this in the market. That’s why we’re working on it,” Robins said.
This announcement should come as no surprise after DraftKings entered into a strategic partnership with Polygon in October 2021. As of now, there is no exact timeline for when this feature will be released. One of the biggest hurdles here is tackling the myriad regulatory issues that arise between the federal and state levels in sports betting, and the uncertainty of federal cryptocurrency restrictions.