Hey Waivly Crew! 🌊 Nike is planning to sell video game NFTs, according to a recent patent filing with the United States Patent and Trademark Office. Yesterday, Vauld suspended withdrawals, trading, and deposits on its network.
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Vauld becomes latest crypto lender to pause withdrawals
Singapore-based crypto lending company Vauld has suspended withdrawals, trading, and deposits on its network.
In a Monday blog post, the firm shared it recorded $197.7 million in customer withdrawals since June 12, when the decline of the crypto market was triggered by the collapse of Terraform Lab’s UST stablecoin, Celsius Network pausing withdrawals, and 3AC defaulting on loans.
“We are facing challenges despite our best efforts. This is due to a combination of circumstances such as the volatile market conditions, the financial difficulties of our key business partners inevitably affecting us, and the current market climate.” Vauld’s founder Darshan Bathija wrote.
Vauld is working with financial and legal advisors in India and Singapore to explore restructuring options that will "best protect the interests of Vauld’s stakeholders." The crypto lender noted freezing customer withdrawals would help "facilitate" the efforts.
This comes just a month after Bathija announced the firm would lay off about 30% of its employees, citing uncertain market conditions, overhiring in 2022, and the actions of a “few market participants” creating uncertainty in the eyes of customers.
Nike plans to create video game NFTs
A recent patent filed by Nike with the United States Patent and Trademark Office (USPTO) revealed the clothing giant is interested in a “video game integration” of NFTs.
As per the filing, Nike seeks to patent a method where virtual objects, such as digital footwear, apparel, headgear, avatars, and pets, can be displayed in games. The filing hints at Nike’s plans to sell the physical shoes and clothes represented within the NFTs.
Notably, the filing explains there “exists a need for a retailer to more directly influence and control the nature and ultimate supply of digital objects within this virtual market” to prevent counterfeit goods from being sold.
It also highlights an opportunity to engage and influence gamers via collectable objects so that they may be “more engaged with a brand in the physical world.”
This isn't the first time Nike has shown interest in NFTs. In December, Nike acquired digital fashion company RTFKT for an undisclosed amount, and has since launched a collection of customizable NFT sneakers dubbed “CryptoKicks.”
The Waves
🎮 Polium announces first Web3 games console
💰 Three Arrows Capital files for bankruptcy
📉 Binance CEO CZ’s plans for the bear market
🤔 Circle CEO: USDC stablecoin provider is in 'strongest position' ever
Creator Special
The Wolf Notes sells unoccasional cards for gratitude, encouragement, love, and most importantly, for absolutely no reason at all.
Orange Juice is a concept artist and writer who accepts commissions through Instagram direct messages. As of yesterday, they plan to take 20 clients this summer.
Rachel specializes in creating handcrafted jewellery, wands, and other art and display pieces made with cruelty-free bones, skulls, and crystals, that she sells on her Etsy store, ArtByWolves. All the bones used are sourced from animals that died of natural causes as a way to bring new life to their bones and turn them into something beautiful.
Tesla cars can now detect potholes
Tesla has recently released a new software update that includes a feature that is able to scan for potholes to prevent underbody damage on the electric vehicle.
According to Not a Tesla App, the software update release notes explain that the latest update will enable Tesla vehicles to scan roads ahead for any potholes and adjust the vehicle's suspension to account for any rough roads.
To enable the new feature, Tesla owners must go to the Adaptive Suspension Damping setting and select “Comfort.” Unfortunately, the feature may not be available for every pothole or crack in the road. It will be dependent on where the vehicle is being driven since the feature utilizes rough road map data that is generated by Tesla cars.
The latest Tesla software update will not apply to Autopilot and Full Self Driving, which means that the vehicle will not steer clear of potholes or any road damage. According to Tesla CEO, Elon Musk, the company is developing a deterrence system that utilizes 3D labelling to create pothole maps.
Own and secure your crypto with Ledger
If you’re into cryptocurrency and own crypto assets, you need a secure place to store your coins and tokens. You probably already know that you shouldn’t store your crypto on an exchange due to potential hacks, not being solely in control of your crypto’s private keys, and for other reasons, and so a hardware wallet is the way to go and the best option to protect your private keys, therefore, you should make the move to a Ledger wallet.
Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.
The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.
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