GizmoLab Report: Cutting-Edge Developments in Web3📈

A Quick TL;DR:

- Emory University Invests $15M in Grayscale Bitcoin Mini ETF

- Flare’s Blockchain Machine Images Now Available on Google Cloud

- Golden State Warriors Names Coinbase New Crypto Partner After FTX Scandal

- Lido’s Community Staking Module Aims to Lower Ethereum Staking Barriers

- Polymarket CEO Defends Non-Partisan Stance and Platform’s Election Data Integrity

- Kroma Network and GameFi.org Launch $spETH Payments in IDOs

Emory University Makes Historic $15 Million Investment in Grayscale Bitcoin Mini ETF, Signaling Growing Institutional Interest in Cryptocurrency 

Emory University has made headlines as the first U.S. university to report a significant investment in Bitcoin, with a $15 million stake in the Grayscale Bitcoin Mini ETF, according to an October 25 SEC filing. Emory disclosed holding 2,678,906 shares in the ETF, valued at over $15 million as of September 30. The Grayscale Bitcoin Mini ETF is a simplified entry point into Bitcoin for investors, requiring a lower investment threshold and fewer technical complexities compared to the larger Grayscale Bitcoin Trust. This investment coincides with rising optimism in the spot Bitcoin ETF market, where inflows reached $110 million on October 25.

The Mini ETF, which trades on the NYSE, allows investors exposure to Bitcoin without needing to handle digital wallets or exchanges, expanding accessibility through mainstream finance. The move is seen as part of a broader shift toward institutional participation in cryptocurrency investments. Emory's decision may set a precedent for other academic institutions considering Bitcoin investments as Bitcoin ETFs gain traction in traditional portfolios. This trend reflects positive market sentiment, with the potential to further integrate cryptocurrency into established financial systems.

Flare Launches Blockchain Machine Images on Google Cloud for Fast, Affordable Node Deployment, Expanding Web3 Development Capabilities

Flare has launched its Blockchain Machine Images on Google Cloud Marketplace, streamlining blockchain node deployment for Web3 developers. With a simple click on the Google Cloud Marketplace, developers can quickly deploy and sync nodes for over 20 major blockchain networks, such as Bitcoin, Ethereum, and Polygon. This node-as-a-service solution enables affordable, quick node deployment, making it accessible to smaller teams and businesses. The innovation allows nodes to be deployed at a cost significantly lower than competitors, with dedicated Flare nodes available for approximately $300 monthly—well below the typical $2000 monthly rate. Blockchain Machine Images supports auto-scaling, giving developers greater flexibility and control over infrastructure.

This service provides enterprises with a simplified approach to integrating blockchain data and developing blockchain-based applications without extensive technical expertise or costly infrastructure. The new tool will assist Flare’s Attestation Providers—key entities responsible for secure data retrieval from external blockchains—enhancing the efficiency and reliability of the Flare ecosystem. In conjunction with Flare’s API Portal, which offers real-time data access, Blockchain Machine Images represents a comprehensive cloud-based solution, enabling unlimited RPC calls, data indexing, and optimized access to blockchain data. This launch marks a major step in making Web3 development faster and more scalable for both businesses and independent developers.

Golden State Warriors Partner with Coinbase After FTX Fallout, Paving a Cautious Path in Crypto Sponsorship

The Golden State Warriors, a six-time NBA champion team, have partnered with Coinbase as their “official cryptocurrency platform and blockchain partner,” marking a notable reentry into the crypto sponsorship space. Coinbase, currently in a prolonged legal battle with the SEC over allegations of operating unregistered securities, will collaborate with the Warriors on merchandise and exclusive fan experiences. This partnership fills the void left by the Warriors’ previous sponsor, FTX, which imploded amid controversy. The Warriors and star player Steph Curry continue to face lawsuits alleging that FTX’s marketing misled investors into considering it a safe platform.

One Canadian investor, Elliott Lam, has pursued legal action against the Warriors and FTX executives, claiming $750,000 in losses due to FTX’s collapse. Despite FTX’s bankruptcy and related controversies, sports franchises, including Major League Baseball and the Miami Heat, have similarly distanced themselves from the defunct exchange. Coinbase’s involvement presents potential challenges if its ongoing SEC case unfolds unfavorably, though the partnership underscores a cautious resurgence in crypto endorsements for the Warriors.

Lido DAO Greenlights ‘Community Staking Module’ to Boost Ethereum Solo Staking Accessibility, Reducing Barriers and Decentralizing Validator Participation

Lido DAO has approved the launch of the “Community Staking Module” (CSM), aiming to make Ethereum staking more accessible and decentralized. This initiative allows participants to engage in Ethereum staking with as little as 1.5 ETH, significantly less than the typical 32 ETH requirement, which generally limits solo staking to wealthier investors. This permissionless staking module will open up to all node operators upon mainnet launch, expanding Ethereum’s decentralization. The module's early access period, initiated in October, includes Ethereum and Gnosis solo stakers, credentialed members from Obol Techne, and other early adopters. Once fully active, CSM will permit broader participation, with plans to lower the bond requirement further to 1.3 ETH in subsequent phases.

Lido DAO leaders emphasize that CSM’s user-friendly setup bypasses complex staking prerequisites, focusing solely on Ethereum deposits. Lido’s community has shown strong support for the initiative, with over 60 million LDO tokens cast in favor. The move comes amid ongoing debates over Ethereum’s security and staking pool centralization. Advocates like Ethereum co-founder Vitalik Buterin argue that solo stakers help maintain network decentralization and censorship resistance. Gusakov, LidoDAO’s tech lead, highlights that CSM’s design addresses Lido’s dominance concerns and represents a strategic step towards enhanced decentralization on Ethereum.

Polymarket CEO Stresses Platform’s Non-Partisan Role Amid Election Prediction Controversies, Defends Data and Funding Independence

Polymarket CEO Shayne Coplan addressed recent critiques of the prediction market’s neutrality and functionality ahead of the 2024 U.S. presidential election, underscoring that the platform remains “strictly non-partisan.” Following a New York Times article branding Polymarket a “crypto-powered gambling website” with a high 64% prediction for Donald Trump, Coplan clarified that Polymarket primarily serves as a data-driven forecasting tool rather than a political medium. He noted, “We're market nerds who think prediction markets provide much-needed alternative data,” explaining that users can engage with markets by betting on perceived inaccuracies in pricing.

Polymarket’s Trump-winning prediction has doubled that of his opponent, Kamala Harris, currently at 35%. The company recently disclosed that a French trader wagered $45 million for Trump, raising manipulation concerns. Polymarket confirmed, however, that the bet reflects individual beliefs, with no evidence of market interference. Additionally, Coplan dismissed claims of Peter Thiel’s influence after Thiel’s Founders Fund led Polymarket’s Series B funding, clarifying Thiel’s politics have no bearing on operations or pricing. Polymarket's cumulative betting volume has hit $2.4 billion, with October volume reaching $3.69 billion as the November election approaches.

Kroma Network and GameFi.org Partner to Expand Web3 Gaming Finance, Introducing $spETH Payments in IDOs to Enhance Developer and Player Access

Kroma Network has unveiled a major collaboration with GameFi.org, a prominent platform uniting blockchain game developers, studios, investors, and gamers, to advance the Web3 gaming experience. This partnership introduces $spETH as a payment option in GameFi.org’s Initial DEX Offerings (IDOs), enhancing transaction ease and flexibility. By providing $spETH as an alternative payment method, Kroma aims to simplify and secure transactions for users, making the investment process more seamless for gamers and developers.

This strategic partnership connects Kroma’s ecosystem with GameFi.org’s extensive audience, empowering game developers within Kroma Network to reach more players and backers across Web3. The integration also allows GameFi.org users to access Kroma's emerging assets, reinforcing both firms’ commitment to fostering innovation and collaboration in decentralized gaming. With this alliance, Kroma and GameFi.org seek to broaden the adoption of blockchain gaming, creating more accessible, rewarding environments for creators and users alike while enhancing the resilience and growth of the GameFi space.

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