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Week 34: Check out what happened in the Web3 world

Axetue
Axetue
Bitcoin and other cryptocurrencies fell significantly - 2.6% from their Thursday late-afternoon level to trade at $21,082. The global crypto market cap is $998.71B. CoinDCX launched Okto, the first simple-to-use mobile app, WeTrade, which has enabled users to buy and sell cryptocurrency coins with no trading fees, writes Varunika Dhar.

Crypto market this week
Bitcoin and other cryptocurrencies fell significantly - 2.6% from its Thursday late-afternoon level to trade at $21,082. Ether, the second-largest cryptocurrency by market value, dipped 4.3% over the same timeframe
As per CoinMarketCap, the global crypto market cap is $998.71B, a 4.11% decrease over the last day. The total crypto market volume over the last 24 hours is $82.60B, which makes a 25.48% increase. The total volume in DeFi is currently $5.85B, 7.09% of the total crypto market 24-hour volume. The volume of all stable coins is now $74.46B, which is 90.15% of the total crypto market 24-hour volume.
Bitcoin’s dominance is currently 39.62%, an increase of 0.03% over the day.
Creators Cuts’ video NFT marketplace launched by Chirangi App
Chingari App announced its first-ever non-fungible token (NFT) marketplace, Creator Cuts, which will allow creators to mint and sell their videos.
Sumit Ghosh, Cofounder and CEO of the Chingari app and Gari token, said, “At Chingari, empowering and enabling creators to engage effectively and intrinsically with their community has been the cornerstone of our success since our inception”
The buyers of these NFTs will get 10% of the creator’s daily income in Gari token based on the engagement on their videos on the Chingari app.
According to the company, “Creator Cuts is aimed at not only empowering the creators with financial and community engagement opportunities but will further enable to community to connect with their favourite creators by owning a piece of their unique art, while also being able to derive monetary benefits from the same.”
CoinDCX launches Okto, a user-friendly DeFi App
India’s one of the largest crypto exchanges, CoinDCX, launched Okto, the first, simple-to-use mobile app, during a three-day-long Web3 event, Unfold 2022, in Bengaluru.
CoinDCX launched a waitlist campaign. Okto is based on the Octopus, a naturally intelligent creature. The crypto exchange is offering a keyless self-custodial wallet with multiple layers of security and native access to several decentralised chains and protocols.
To securely and safely navigate opportunities in DeFi, Indian users will be able to access the Okto wallet through the CoinDCX Pro app, and it will be launched internationally as a standalone Okto app. With is an app, users can use this app to access thousands of tokens from multiple DEXs across chains in their smartphones and discover high-yielding opportunities.
CoinDCX Web 3 event will take place from 26 August 2022 to 28 August 2022 and will highlight India’s crypto communities.
‘Creators Cuts’ video NFT marketplace launched by Chirangi App
Chingari App for creating short videos announced its first-ever non-fungible token (NFT) marketplace, Creator Cuts, which will allow creators to mint and sell their videos.
The co-founder and CEO of Chingari app and Gari token, Sumit Ghosh, said, “At Chingari, empowering and enabling creators to engage effectively and intrinsically with their community has been the cornerstone of our success since our inception”
The buyers of these NFTs will get 10% of the creator’s daily income in Gari token based on the engagement on their videos on the Chingari app.
According to the company, “Creator Cuts is aimed at not only empowering the creators with financial and community engagement opportunities but will further enable to community to connect with their favourite creators by owning a piece of their unique art, while also being able to derive monetary benefits from the same.”
Bitbns announces the listing of the metaverse-based Klaytn token
An Indian cryptocurrency exchange, Bitbns, has announced that it will be including Klaytn’s (KLAY) metaverse token to its platform. The token was created by Ground X, the blockchain of Kakao, a South Korean internet company. Its main aim is to help users in exploring frontiers such as decentralised finance (DeFi), non-fungible token (NFT) and metaverse.
According to the Head of business development, Sanket, “Bitbns, they support the vision of blockchain that is focused on metaverse to enable ease of access to blockchain for mobile applications. With 750 million smartphone users in India (2021) and being one of the markets for cryptocurrency/gaming users, Bitbns aims to empower them to do so through our fiat trading solutions.”
‘City Ambassador Program’ launched Coto
Coto, a Web3-based social community platform, has launched an initiative called the “City Ambassador Program.” In line with the company, Coto has taken a local approach to unleash the potential of women to become global community creators through this programme.
The Co-Founder of Coto, Aparna Acharekar, said, “Our ‘City Ambassador Program is a collaborative initiative that brings together different communities of women over a shared goal of collective growth. Keeping sisterhood at the core, we want to connect with women of all ages at the grassroots level. With an action-oriented approach, the program will enable women to support each other, and at the same time, inspire and instil confidence to build an identity of their own.”
Among the cities of India, the programme has begun in Hyderabad, Ahmedabad, Jammu, Lucknow, Patna and Srinagar. This phased programme will be held in 30 regions across the nation, it will include city, state, zonal and area-specific local ambassadors.
In accordance with the company, each city ambassador will work to onboard women from various walks of life and genres to build their own communities on the platform. These representatives will promote local-level coto chapters, with a focus on women’s growth and empowerment.
WeTrade introduces zero-fee cryptocurrency transactions
A Bengaluru-based startup, WeTrade, has enabled users to buy and sell cryptocurrency coins with no trading fees, as well as conduct transactions for as little as Rs 100. To make it both simple and encouraging for users, the mentioned startup is eliminating trading fees for more than 50 coins available on its platforms, such as Bitcoin, Solana and Ethereum.
As founder and CEO of WeTrade, Prashant Kumar, said, “We not only offer zero trading fees but also help our customers by letting them enjoy the benefits of price appreciation and multiplying rewards. Our application interface provides solutions across the user journey, such as a secure and quick KYC, instant money deposit and withdrawal, and a one-click buy/sell, taking less than a minute to start investing in cryptocurrency. We look forward to growing into a one-stop-shop for anyone who wants exposure to the set of assets in the cryptocurrency world”
This cryptocurrency platform provides non-fungible tokens (NFTs) to all early users who sign up for the application, as users can transfer the NFT gifts to their wallets and trade them later.
Announcement of the Mainnet Merge- The Ethereum Foundation has confirmed that the merger will take place between September 10 and September 20 
The Ethereum network, which powers the second-largest cryptocurrency by market cap, will shift from a proof-of-work consensus mechanism to a proof-of-stake blockchain next month.
The Ethereum foundation said, “Following years of hard work, Ethereum’s proof-of-stake upgrade is finally here! As of now, the upgrade of all public test net is completed successfully, and The Merge has been scheduled for the Ethereum Mainnet.”
The merge will take place in two phases. The first will be “Bellatrix” on September 6, and the second will be “Paris” from September 10 to September 20.
The co-founder of Ethereum, Vitalik Buterin said, “Migrating to proof-of-stake will make Ethereum 99% more energy efficient.”
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Axetue is a publication focussing on emerging technologies specifically Web 3, Blockchain & the Metaverse.

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