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Quick Take

• In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding
• L1 blockchains are now utilizing a variety of strategies to establish connections with other networks, building cross-chain communication protocols and expanding their native tokens to a range of different ecosystems
• As networks prepare for upgrades that will impact their future performance and scalability, many are employing some form of incentivized testnets to bootstrap an early user base and quickly identify potential issues
• This week, we take a look at Polkadot, Cosmos, Terra, and Avalanche

The fate of nearly 100 crypto firms’ UK operations hangs in the balance — and it could be pushing them overseas.

The post Crypto firms face cliff-edge in UK as time ticks down for AML approval appeared first on The Block.

Quick Take

• In the last decade, neobanks such as Monzo, Revolut and N26 have pioneered a mobile-first and branchless alternative to banking. 
• Now, as DeFi slowly makes its way to the mainstream, a new generation of “neobanks” on DeFi rails are snapping at the heels of their TradFi siblings.

Luxury fashion brand Gucci has bought itself some land on the digital world platform known as The Sandbox.

The post Gucci buys virtual land on The Sandbox as part of metaverse experience bid appeared first on The Block.

El Salvador plans to issue its first billion dollar “bitcoin bond” next month, finance minister Alejandro Zelaya said on February 8.

The post El Salvador plans to issue first bitcoin bond next month appeared first on The Block.

Animoca Brands had just come off the heels of a $358.88 million funding round on January 18, led by Liberty City Ventures.

The post Investment firm KKR to up Animoca Brands’ newest funding to $500 million: report appeared first on The Block.

Quick Take

• Zero knowledge projects utilize zk proofs to compress data and reduce the computation required for verifiers to validate transactions
• The two main value propositions for utilizing zk proofs are scaling transaction throughput and conferring privacy for users
• Apart from the notable names like StarkWare and Matter Labs, there are a number of zk-based projects which have seen increased media attention
• Unlike StarkWare and Matter Labs, there are some zk-based blockchain projects which have decided to build their own layer 1 chains
• Many of these zk-based projects have innovative use cases for validity proofs, which allows them to invent some unique features in the blockchain domain

Zynga’s will likely tailor the blockchain-based game to the interest of crypto whales, such as incorporating more yield elements.

The post Gaming giant Zynga plans to launch NFT-based game this year appeared first on The Block.

On this episode of The Scoop, Alok Vasudev, co-founder at Standard Crypto joined The Block’s Frank Chaparro to discuss the future of DAOs and NFTs, among other topics.

The post Standard Crypto co-founder on leaning into the ‘weirdness’ of crypto appeared first on The Block.

BlackRock is reportedly gearing up to offer crypto trading to its investor clients.

The post BlackRock plans to offer crypto trading services: report appeared first on The Block.