Translated by elcreto

Xangle’s Take on the Market This Week

• Crypto tumbled this week, buffeted by a series of headwinds, including persistent inflation jitters, Silvergate distress, Mt. Gox repayment, and Binance’s alleged money laundering.
• While the retreat was observed in all sectors, Korea Crypto Index (-15%), NFT (-15%), and Games/Metaverse (-15%) posted the biggest losses.

Mainnet

Ethereum Announces Deployment of ERC-4337

Ethereum Foundation has unveiled the launch of the ERC-4337 account abstraction standard at ETHDenver.

Link: eips.ethereum.org/EIPS/eip-4337

Polygon ID Makes Its Official Debut

Polygon Labs has released ZKP-powered Polygon ID to the public under an open source license.

Link: Polygon Labs’ Announcement

Axelar Launches Axelar VM for More Scalable Interchain Connectivity

Cross-chain solution Axelar has introduced the Axelar Virtual Machine, an infrastructure supporting multichain operation of dApps.

Link: Axelar Blog Announcement

NFT 

Yuga Labs to Auction TwelveFold

Yuga Labs has announced an auction of TwelveFold, its first NFT collection inscribed on the Bitcoin blockchain.

Link: Yuga Labs Official Twitter Thread

After Polygon Seals Partnership with Daehong Communications, Bellygom Migrates to Polygon

As Polygon enters partnership with Daehong Communications—one of the Lotte Group companies responsible for the group’s NFT projects—Lotte Homeshopping’s own character, Bellygom, migrates to the Polygon network.

Link: Xangle Events - Daehong Partnership | Xangle Events - Bellygom Migration

Games/Metaverse

Derby Stars Opens Early Access

Invested in by Hashed, developed by UNOPND, Derby Stars—a blockchain horse racing game similar to Uma Musume—has released an early access version.

Link: Derby Stars Notice

Magic Eden Set to Roll Out 13 Games

Magic Eden is hosting “Mint Madness” during March, offering free Web3 gaming mints. With this event, the NFT marketplace plans to launch 13 Web3 Games.

Link: CoinDesk Report

“Summoners War: Chronicles” to Join XPLA Ecosystem

XPLA announced in a tweet that Com2uS’s MMORPG, Summoners War: Chronicles, will join the XPLA ecosystem in July 2023.

Link: XPLA Official Twitter Thread

Macro/Industry/Corporate

News of Troubles at Silvergate Bank Batters Crypto

After Silvergate delayed the bank’s annual 10-K report and raised doubts about its going concern, the crypto market plunged amid fears of a bank run.

Link: SEC Notification of Late Filing

FTX Says $8.9B in Customer Funds Are Missing

FTX’s presentation filed in the Chapter 11 case revealed an $8.9B shortfall in the outstanding customer receivables of $11.6B.

Link: Coindesk Report

Previous Xangle Weekly Reports

• [Weekly Xangle] Klaytn Burns Reserve Supply, Coinbase Launches Base, OpenSea Cuts Fee, TON Tokenomics Optimization
• [Weekly Xangle] WEMIX Relisted on Coinone, SEC Suing Terraform Labs, Blur Launching Native Token, and More