Web3 Wrap-Up: Digital art security with Sotheby’s, Ripple rejected, International Cricket Council explores Web3 technology 🏏 🎨

Dive right in as I break down some of the most significant updates and developments shaping the future of these incredible technologies.

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TL;DR – In this edition:

• ⚖️ SEC’s request in Ripple case rejected by judge
• 🍔 Blackbird Labs, Inc. raises funds for blockchain-based restaurant loyalty
• 👥 International Cricket Council partners with NEAR Foundation for fan engagement through blockchain.
• 🎨 Sotheby’s collaborates with Ledger for digital art security.
• 🌐 adidas and Moncler merge NFTs and AI in Web3 collaboration.
• 🥽 Meta‘s Quest 3 receives Inside-Out Body Tracking update.
• 🚀 Microsoft launches Microsoft Mesh VR platform.
• 👾 Virgin Media, O2 (Telefónica UK) and Ericsson partner for 5G-powered AR gaming
• & more

🛠️ Web3 & Blockchain Focus 🔗

Web3 Tech Highlights

Discover some of the most recent blockchain news and tech updates driving the Web3 space forward.

• Judge rejects the Securities and Exchange Commission’s (SEC) request for an interlocutory appeal and a stay of trial in the case against Ripple CEO Brad Garlinghouse and Christian Larsen. It was stated that the SEC did not present a “pure question of law” or a substantial ground for difference of opinion to warrant an interlocutory appeal, ensuring the trial will proceed as planned.
• Blackbird Labs, Inc., a hospitality technology company, has successfully raised a $24 million Series A funding round led by Andreessen Horowitz (a16z), with participation from Amex Ventures and Bolt by QED Investors , to revolutionise the way restaurants approach customer loyalty leveraging Web3 and blockchain technologies. This funding will support Blackbird’s efforts to scale operations and meet the growing demand within the restaurant industry for innovative solutions that drive customer loyalty and create new revenue streams, tapping into the potential of Web3 and blockchain to enhance the dining experience.
• Shanghai reveals its action plan to expedite the technical development of blockchain within the city by 2025, aligning with China’s broader strategy to advance Web3 technologies despite the crypto ban. The plan encompasses advancements in system security, cryptographic algorithms, smart contracts, cross-chain functionalities, privacy computing, and more, aiming to leverage these technologies across sectors like government affairs, finance, metaverse, and supply chain management.

Blockchain Beyond The Hype

Explore how different companies and organisations are leveraging blockchain technology to drive efficiencies, transparency, and business benefits.

• The International Cricket Council (ICC) has partnered with the NEAR Foundation as its official blockchain partner until the end of 2025, aiming to enhance fan engagement and advance the game through Web 3.0 technology. Their inaugural project will be a pre-match strategy challenge for the upcoming men’s Cricket World Cup, inviting fans to showcase their cricket knowledge with scores recorded on Near’s blockchain, offering exciting prizes for top performers, including match tickets.
• Global art auction house Sotheby’s ‘s has joined forces with crypto wallet provider Ledger , marking a significant convergence of technology and art, aiming to enhance the security and luxury experience for digital art collectors. Starting in 2024, top buyers at Sotheby’s will receive a limited-edition Ledger x Sotheby’s Nano X hardware wallet, underlining the integration of art, advanced security, and education in the rapidly expanding digital art domain
• adidas and Moncler have come together for a cutting-edge collaboration in the world of Web3, combining NFTs and AI to create a unique project titled ‘The Art of Explorers.’ This collaboration showcases the innovative fusion of technology, luxury fashion, and co-creation, underlining the potential of Web3 as a platform for future creative partnerships.

A Finger On Regulation

Stay informed about the latest regulatory changes influencing the Web3 and blockchain landscape.

• Chair of the US Commodity Futures Trading Commission (CFTC) wants DeFi regulated, saying that 70% of crypto assets are commodities. Despite concerns, laws governing crypto are still being developed in the United States. Meanwhile, the Securities and Exchange Commission (SEC) plans to amend rules, requiring protocols to register as exchanges or brokers.
• In the wake of the JPEX scandal, Hong Kong’s Securities and Futures Commission (SFC) is collaborating with the police to form a specialised task force aimed at combating illegal activities on cryptocurrency trading platforms. The team includes members from the Commercial Crime Bureau, the Cyber Security and Technology Crime Bureau, and the Financial Intelligence and Investigations Bureau of the police force. 
• Chase UK, an entity of the global bank, announced it would block all cryptocurrency payments from customers starting October 16, citing concerns about rising fraud and scams associated with crypto assets. The bank emphasised that if they suspect a payment is related to cryptocurrencies, they will decline it, while suggesting customers can still interact with crypto service providers through other banks.

🌌 XR (Extended Reality) & Beyond 🚀

XR Tech & Hardware

Explore the latest advancements in XR hardware and the technology bringing more of our senses into the digital space

• Meta ‘s Quest 3 is set to receive a software update in December, bringing a groundbreaking feature – Inside-Out Body Tracking (IOBT) using its side cameras. This update will track wrist, elbows, shoulders, and torso, providing a more accurate representation of a user’s upper body movements within VR, allowing for a more immersive experience and solving issues with previously estimated arm positions.
• Qualcomm unveils its latest chips for XR (Extended Reality) and AR platforms, introducing the Snapdragon XR2 Gen 2 for VR and mixed-reality devices, along with the AR1 Gen 1 designed for smart glasses, coinciding with the Meta Quest 3 VR goggles release. The XR2 Gen 2 promises significant improvements in GPU and AI performance, optimised to power two 3k displays, handle inputs from up to 10 cameras and sensors, and achieve a 12ms latency for pass-through video for mixed reality applications, aiming for more accessible and affordable experiences compared to competitors like Apple.
• Microsoft is set to launch the public preview of its VR platform, Microsoft Mesh, in October, featuring a new Teams experience accessible via desktop or Meta Quest VR device. Early trials of VR meetings have been conducted by organisations like Accenture , PwC , and the World Economic Forum, aiming to enhance virtual meetings and events by providing a more face-to-face and immersive experience.

XR Out & About

Learn about the transformative role of AR/VR/XR across a range of sectors and their potential to reshape how different industries work, interact and experience.

• Virgin Media O2 (Telefónica UK) and Ericsson are partnering with BBC Children in Need to bring 5G-powered augmented reality gaming across the UK. The ‘HADO Tournament for BBC Children in Need’ will involve gaming tournaments across eight different UK locations in October, allowing participants to compete in an AR immersive gaming experience using head-mounted displays and armband sensors on indoor courts, ultimately leading to a televised live finale.
• A multi-million pound extended reality centre, eXtended Reality Peterborough (XRP), is set to be established at ARU Peterborough’s Innovation and Research Centre. XRP will provide state-of-the-art extended reality facilities, simulating diverse workplace environments for training and offering students and employees the opportunity to engage in immersive simulations of hospital wards, factories, laboratories, and workshops to enhance their skills in a safe setting.
• Mythtopia, an upcoming eco-glamping resort near Edinburgh, promises a unique experience with luxury glamping, augmented reality adventures based on Celtic mythology, and the distinction of being the UK’s first NFT-exclusive holiday destination. Set to open in Spring 2024, the resort offers 150 low-carbon impact domes and lodges, an AR playground for exploring mythical adventures, and the chance for NFT holders to enjoy stays and actively participate in rewilding efforts.

Enabling & Adjacent Technologies

Discover the complementary technologies and tools that empower and enrich the Web3 and blockchain landscape.

• Renée Richardson Gosline and Yunhao Zhang from Massachusetts Institute of Technology studied how people perceive work created by generative AI, humans, or a combination of both. They found that participants preferred AI-generated content when they had no information about the source, demonstrating that generative AI can be as good as or even better than humans at certain tasks; however, when participants knew the content’s source, they showed a positive bias towards human-created content, highlighting the importance of incorporating human involvement in the creative process alongside AI.
• According to a study by Ericsson ConsumerLab, approximately one in five 5G smartphone users are willing to pay extra for enhanced connectivity and differentiated 5G service experiences. These users, particularly those engaging in demanding applications, are ready to pay up to 11% more for value-added connectivity, showcasing the growing potential for communication service providers (CSPs) in the 5G market.
• A French-German consortium led by Eviden, Atos Group, and ParTec AG has secured a contract with EuroHPC Joint Undertaking to develop Europe’s first exascale supercomputer named JUPITER. The supercomputer, with an overall project cost of 500 million euros, will utilise advanced GPUs and CPUs from NVIDIA and SiPearl , enabling it to perform over one trillion calculations per second and advance scientific excellence and industrial independence in Europe.

🌟 On The Radar 🌟

For Your Calendar

• Renowned DJ Carl Cox is set to perform in the virtual event “Intermundium” on October 27, hosted on Sensorium Galaxy’s electronic music hub, PRISM. From extended reality (XR) and artificial intelligence (AI) to motion capture and the Unreal Engine, Sensorium will employ cutting-edge technologies to bring this everything to life – as well as a 3D avatar of Cox interacting with his music selections, providing an immersive experience in the space between worlds or dimensions.
• Keep an eye out for the Africa Blockchain Summit later in October for a chance to get together to chat, network, and brainstorm how blockchain can tackle some of Africa’s hurdles. Everything from: blockchain for finance to supply chains, real estate, healthcare, energy, and education.

Watchlist

Here is a list of some exciting companies I’m keeping an eye on this week from beyond the blockchain bubble. They’re innovating and doing big things in their respective sectors and deserve a place on our “Innovative Companies To Watch” list.

• The Good Coffee Company – Do you want a guilt-free coffee experience rooted in ethical and sustainable practices? Here you go. Chantel Daniel and the The Good Coffee Company meticulously source coffee beans, ensuring a transparent and responsible supply chain from the initial selection process to the final cup, delivering both great taste and a strong commitment to social responsibility! Looking forward to understanding more about a blockchain supply chain use case! 👀
• Hatch – Founders Darrin Massena and Mike Harrington previously co-founded the online photo editing tool Picnik (I used this so much as a teenager), which Google acquired in 2020 has just launched an online marketplace offering no-code website-building templates and tools. The platform differentiates itself by providing a more flexible and freeform approach to website design, with an AI coder for animations and interactions, and offers both free and paid subscription tiers, starting at $9 per month for a Hatch Pro account.
• Rantizo – Agriculture spray drone service provider Rantizo secured over $6 million in Series A funding, led by Leaps by Bayer and featuring participation from Fulcrum Global Capital and Innova Memphis . Rantizo , known for its precise crop application services using spray drones, plans to utilise the funding to expand its operator network across the US and enhance its autonomous spray drone offerings for agriculture.

Until next time! Thank you to every single reader that continues to engage and read this newsletter. Always hoping it is helpful, and always hoping it adds to your fountain of knowledge about the space! Get in touch, ping me a message, let’s connect and as always – keep building!

Don’t forget to share this Wrap-Up! ✨ Want to have a chat? Shoot me a message or send an email to: hello@whitneyabigail.co.uk.