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Quick Takes

• Somnium Space is a VR-focused metaverse platform that focuses on building an NFT open world on top of the Ethereum blockchain.
• Somnium Space is the least popular blockchain-based metaverse platform among its peers – Decentraland and The Sandbox.
• It focuses on creating a new world where users can socialize with other users either through in-world activities. 
• A social system is placed in its world. It is a reward system point (known as Karma) where it encourages positive behavior, which will form a healthy culture amongst the Somnium Space residents.

Developers for the Ethereum scaling project Optimism said Thursday that it patched a “critical bug” earlier this month.

The post Ethereum scaling startup Optimism discloses ‘critical bug’ fix appeared first on The Block.

Quick Take

• Each Tranchess fund has three tokenized tranches with different risk exposure.
• The BISHOP tranche enables risk-averse investors to earn passive yield without price risks, whereas the ROOK tranche provides liquidation-free leveraged exposure to risk-seeking speculators.
• CHESS, the native token of Tranchess, is used to incentivize user adoption and is by far the main driver of protocol usage.

New York-based Fitch Ratings has downgraded El Salvador’s long-term foreign currency issuer default rating (IDR) to “CCC” from its most recent rating of “B-.”

The post Fitch downgrades El Salvador rating on debt concerns appeared first on The Block.

Should YouTube implement Web3 tech for its creators, the firm stands to legitimize this still niche tech space to a broad global audience.

The post YouTube sees ‘incredible potential’ in Web3 and NFTs appeared first on The Block.

The European Union is set to formally consider legislation around a digitized euro in 2023.

The post Digital euro legislation planned for next year, EU official says appeared first on The Block.

Chris Sununu, the governor of New Hampshire, has announced a new state commission focused on the study of cryptocurrencies.

The post New Hampshire governor establishes new commission to study crypto appeared first on The Block.

Binance is taking a $200 million stake in Forbes — the publication it once sued for defamation and then voluntarily dropped the lawsuit.

The post Binance is taking a $200 million stake in Forbes — the publication it once briefly sued for defamation appeared first on The Block.

What if you don’t have to pay ~ $43,000 to stack 1 Bitcoin?

The post Mining is the best way to dollar cost average into Bitcoin at a discount appeared first on The Block.

Some vendors known for selling stolen crypto cards for crypto like bitcoin on the dark web have been shut down by Russian officials.

The post Russia shuts down darknet sites that had made $263 million in crypto appeared first on The Block.