Sat 01/27

Good Morning. CoinDCX launched Namaste Web3, SOCIAL is bringing physical NFTs to India, Amazon is getting into NFTs, and more to read today. Happy Saturday!

CoinDCX Launches Namaste Web3: CoinDCX announced the launch of Namaste Web3, an initiative aimed at generating awareness and understanding of the third-generation internet, or Web3, and its potential for Indian industries. A series of multi-city roadshows are planned as part of Namaste Web3 with Bangalore being the first stop. Other cities include Delhi, Mumbai, Hyderabad, Ahmedabad, Chennai, Jaipur, Pune, Indore, and Kolkata. Amongst a host of interesting topics, the forum will touch upon the role of Web3 in bringing socio-economic changes, navigating the shift from web2 to web3, decentralized finance in web3 and accelerating decentralized application (DApp) development with hands-on workshops on building DApps with decentralized hosting solutions.

SOCIAL Launches India’s First Exclusive Physical Nft Art Gallery & Cafe At New BEL Road: SOCIAL, a collaborative workspace, and hub for artists, innovators opened India’s first exclusive physical gallery for NFT art in New BEL Road, Bengaluru. The works of Bengaluru-based NFT artists, namely Prasad Bhat, Dr. Wafu, AB Verse, and more have been on display since 23 January. Moreover, the inaugural display of digital artist Angad B Sodhiwas is titled, ‘Welcome to Web 3’. The first phase of their induction into Web3 space was launched on 14 January, said the cafe chain.

Gaming Unique Active Wallets Grew 60% In 2022 – On-chain Transactions Up 37%: Wax, Hive, and BNB chains became the most popular gaming blockchains with 353,000, 234,000, and 136,000 daily UAWs, respectively. Currently, 1.15 million daily UAWs connect to gaming dApps, marking a 60% increase over 2021. This increase in daily gaming UAW numbers also allowed games to dominate DeFi UAWs in 2022. Meanwhile, on-chain game transactions have increased to 7.4 billion in 2022, marking a 37% increase since 2021 and an impressive 3,260% since 2020. One unique wallet conducted 25 gaming on-chain transactions on average in 2022.

Amazon To Launch Gaming-focused Nft Initiative: Amazon is launching an NFT initiative focusing on blockchain gaming and related NFTs in the spring of 2023, according to a Blockworks report. The initiative is still in the development stage, but the deadline for the launch is set as April, according to information from four anonymous individuals shared with Blockworks. One of the use cases will allow Amazon users to play blockchain-based games and claim free NFTs, one source claimed.

NFTs Accounted For 28% Of The Eth Gas Usage In January: CryptoSlate analysts examined the gas usage shares of different transaction categories on the Ethereum (ETH) network and found that the NFTs category accounted for 28% in the first month of the year. The analysis divides all transactions on the ETH network into eight categories as Vanilla, ERC20, Stablecoins, DeFi, Bridges, NFTs, MEV Bots, and others. The second, third, and fourth categories that occupied the most significant gas usage by share appeared as Defi, ERC20, and stablecoins, with 8% for Defi and ERC20 and 6% for stablecoins.

What Is the Blockchain Trilemma?: The Trilemma refers to the problem every blockchain has in having to compromise on either security, decentralization, or scalability. Coined by Vitalik Buterin, one of the Ethereum co-founders, the trilemma points to each of the issues being interconnected