Crypto NFT Today: The latest news in blockchain, cryptocurrency and NFT: 12-18 October 2022

by Arthur · October 12, 2022

Welcome to another edition of Crypto NFT Today! If you like cryptocurrency, NFTs and riding emotional roller coasters, this is the place to be.

Are you ready for the crunch? Let’s get started.

If currency, art and games are being decentralized, why not social media? It was a natural progression, and a new Web3 social platform called Diamond is taking the lead on the new technology.

Diamond is launching on DeSo, a new blockchain that has raised $200 million from Coinbase, Sequoia and Andreessen Horowitz.

Diamond is the first ever product that enables all posts, profiles, social graphs and content to be hosted on a decentralized censorship-resistant blockchain.

Of course, the project would be incomplete without embossed NFTs. Posts on the platform can be NFT-ified and earn crypto tips, along with other rewards.

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Google accepts crypto as payment for cloud services

Google is the latest in a growing list of companies to accept cryptocurrency as payment. Google announced at its Cloud Next Conference on Tuesday that it will start accepting crypto as payment for its cloud services as early as next year.

Crypto payments will initially be rolled out to a handful of customers involved in the Web3 industry. Google will also use Coinbase’s escrow service, Coinbase Prime.

Due in part to the announcement, shares of Coinbase rose over 5% to $70.76 in pre-market trading on Tuesday.

The first ever Web3 gaming tournament held at Istanbul Blockchain Week

Web3 gaming is becoming more popular as startups in the space get their own NFTs and partner with established brands. Building on the success of the niche, the world’s first web3 live gaming tournament will premiere at Istanbul Blockchain Week on November 17.

The event, called W3E, will take place at the ESA Esports Arena in the heart of Istanbul, and will also include game showcases, exclusive developer announcements, demo testing and competition.

EV.io, a first-person shooter set in a series of futuristic arenas – and the most popular game on the Solana blockchain – will be the event’s league partner and main game for the tournament.

Metaverse user numbers don’t live up to the hype

For a technology valued at $1 billion, the metaverse is seriously underperforming in terms of daily active users. A new report from data aggregator Dappradar suggests that metaverse platforms Decentraland and The Sandbox each have fewer than 1,000 “daily active” users.

Dappradar reported that the Ethereum-based virtual world Decentraland had 38 “active users” in 24 hours, while its competitor The Sandbox had 522 “active users” in the same time.

However, the data collected was based on wallet interaction with the platform’s smart contract. Meta Platforms countered Dappradar’s claims, stating that many users simply log in and interact with other virtual reality users or attend metaverse events such as virtual fashion week.