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Robinhood Rolls Out Beta Version of Web3 Wallet
Trading platform Robinhood rolled out a beta version of its Web3 wallet Tuesday, allowing users to swap assets on its non-custodial wallet. Officially called Robinhood Wallet, the standalone app will support Polygon as its first blockchain network.
During the beta, participating customers will be able to download the app and fund the wallet with USDC as the primary fiat-representative token, trade and swap crypto with no network fees, earn crypto rewards, store and track their blockchain portfolio, and connect to decentralized apps (dapps) to earn yield. Viewing NFTs and connecting to NFT marketplaces will be supported when Robinhood Wallet is available to the general public, but it is not part of the beta program.
Walmart Enters Metaverse
Walmart has officially entered the metaverse. The retail giant took its first steps into the virtual world with the launch of Walmart Land and Walmart’s Universe of Play on Roblox.
According to the company’s Monday announcement, Walmart Land focuses on “immersive experiences,” with key features including a physics-defying Ferris wheel, unlockable tokens and badges, an interactive piano walkway and a D.J. booth for users. Walmart’s marketing chief, William White, said the company will use Roblox as a testing ground, as it considers other moves in the metaverse and beyond.
Fed Chair Urges Caution on DeFi Regulation
After the collapse of TerraUSD stablecoin, which was supposed to maintain its value against fiat currency, and the advent of the recent “crypto winter,” some policymakers were keen to enact regulations of the decentralized finance (DeFi) sector. However, Federal Reserve chair Jerome Powell said Tuesday that regulation of DeFi needs to be done “carefully and thoughtfully” given its limited impact on the real economy.
Powell also suggested he was in no rush to introduce a central bank digital currency, a digital form of public money which is under consideration in numerous jurisdictions across the world. The measured approach Powell is suggesting could bolster the crypto market in the short term as investors get a temporary reprieve from a major market shake-up. Mainstream cryptocurrencies Bitcoin and Ether are up Tuesday following the comments.
AC Milan Partners with Web3 Soccer Game, Mints NFTs
Historic Italian soccer club AC Milan has partnered with Solana-based MonkeyLeague, a web3 soccer game.
MonkeyLeague is a strategy-based soccer game, in which users build and manage their own dream team of at least six MonkeyPlayer NFTs (striker, midfielder, defender and goalkeeper), compete against real players, and climb the league ranks. The game economy is centered around an in-game currency, MonkeyBucks ($MBS), and in-game assets that hold value in and out of the game.
The new partnership between MonkeyLeague and AC Milan includes creating exclusive, Rossoneri-branded NFT game assets, wearables, special game tournaments, co-marketing events, and a host of other exciting initiatives, such as club players playtesting the game.
As part of the deal, MonkeyLeague will work closely with AC Milan to launch a new collection of branded NFT game assets, including new MonkeyPlayers, skins and Stadiums. The first batch will be auctioned Oct. 6 on MagicEden, with the NFTs going to the highest bidders.