WHAT’S BREWING IN CRYPTO NEWS?
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To make sure you can stay up-to-date as well, we’re delivering key news stories for you to digest with your morning coffee. It’s the exhilarating world of crypto, one byte at a time.
Let’s see what’s brewing.
This Week: Tether Sows Seeds in LatAm with $100M Investment in Agriculture
September 13, 2024
Tether, the heavyweight behind the USDT stablecoin, is plowing into new territory with a $100 million investment in Latin American farming giant, Adecoagro. With this stake, Tether grabs a 9.8% slice of Adecoagro, branching out from crypto into the fertile fields of agriculture.
Adecoagro is an agricultural conglomerate that tends over 213,500 hectares of farmland across Argentina, Brazil, and Uruguay. From planting crops to milking cows and harvesting sugarcane, they do it all – while also generating renewable energy. Then, in 2021, Adecoagro teamed up with Agrotoken, an Argentine startup that converts farm yields into digital tokens.
Agrotoken has a trio of stablecoins – SOYA, CORA, and WHEA – that lets farmers turn their grains into digital currency. They can trade their crops for supplies, services, and more, just like bartering in the digital age. With $70 million in deals already sprouting, they’ve worked with over 1,000 farmers and tokenized 230,000 tonnes of crops.
Tether’s $100 million bet fits its broader mission of digging into tokenized assets. The company plans to launch a tokenization platform later this year, planting digital versions of everything from bonds to stocks. And let’s not forget its gold-backed stablecoin, XAUT, which is already harvesting a $615 million market cap.
As competition in the stablecoin market heats up, Tether is spreading its roots beyond crypto. They’re betting that farming and land will offer steady yields, just like a good harvest. Besides agriculture, Tether has also invested in Bitcoin mining, payment processing, and cloud computing – effectively planting seeds in every corner of the digital world.
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This Week: TON Blockchain Hits 1 Billion Transactions
September 5, 2024
The Open Network (TON) blockchain just hit a major milestone, crossing the one billion transactions mark. What’s really impressive is that half of these transactions happened in just the last three months!
But, like any good hero story, TON’s journey to success hasn’t been without its bumps. The network ran into some trouble when the DOGS memecoin airdrop flooded the system in the last week of August, causing two big outages. These hiccups put a pause on transactions while validators scrambled to hit the reset button to get things back on track. Still, these setbacks didn’t slow TON down. Instead, they pushed the network to beef up its infrastructure so it could handle all the action.
TON has become so successful for several reasons. For starters, it has close ties with Telegram’s massive user base of about one billion users. Then, new projects like Notcoin (a token that combines gaming, mining, and blockchain technology) and the integration of USDT played a big role by bringing in more users and boosting transaction numbers.
On top of that, the network became even more user-friendly and attractive after the launch of the W5 smart wallet standard last month. This new feature offers “gasless” tractions, which means they can make transactions without paying the usual fees.
Following this major milestone, TON’s team is focused on ironing out any technical issues and keeping up the growth. Big companies like Pantera Capital are investing in TON, and the blockchain is on a path of continuous innovation. Some say it might even become a “SuperApp” that could change the game in Web3, mirroring the success of WeChat.
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This Week: Digital Pets Are Back With P2E Game PlayDoge
August 26, 2024.
Ah, the 90s. Remember the days when the biggest concern in your pocket was keeping your Tamagotchi alive? Those little digital doodads were our companions. They taught us responsibility and kept us busy with their beeps and boops. Just when you thought the pleasure of digital pets was lost, August 2024 rolls around, and that nostalgia comes rushing back. *Whistle Whistle* – Here, buddy buddy.
Running your way is PlayDoge, a Play-to-Earn (P2E) game that rekindles that nostalgic spirit and adds a modern twist. This time, you care for your digital pet on your phone, and it’s based on the famous meme coin Doge.
Like Tamagotchi, you must nurture your digital doggo’s happiness and well-being by raising, feeding, training, and playing mini-games to keep him fit. Unlike the digital pets of yesteryear, however, PlayDoge operates on the Ethereum network with PLAY, PlayDoge’s native ERC-20 token. Every action you take earns you tokens, which can be traded or hatched into rewards. What would your sixth-grade self think of that?!
If you’re an outstanding parent and your digital Doge is wagging with happiness, you bark up to the top of the leaderboard, earning extra PLAY tokens as one of the best “Pet Parents.”
PlayDoge is in the presale phase until August 26, but it has quickly become a favorite chew toy among future players. Nearly 250 million PLAY tokens have already been locked up for its presale, and over $6 million has been raised.
PlayDoge’s tail is wagging with excitement, and it’s ready to pounce and unleash a thrilling debut on exchanges, promising even more growth ahead. Whoever said the magic of digital pets has faded? No way! It’s only evolved.
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