GizmoLab Report: Cutting-Edge Developments in Web3 📈

A Quick TL;DR:

- Nigeria’s SEC Grants First Crypto Exchange License to Quidax 🌟

- Polkadot’s Logo to Appear on Lionel Messi’s Inter Miami Training Kit

- Aptos Integrates Nillion for Enhanced Privacy in DeFi and AI Apps

- Tixbase and Passo Partner to Revolutionize Ticketing on Avalanche Blockchain

- BNB Chain and SingularityNET Partner to Enhance Decentralized Storage Solutions

- Telegram-based Tap-to-Earn Game SnakeLite Raises $4M in Seed Round

Nigeria’s SEC Issues First Provisional Operating License to Local Crypto Exchange Quidax, Signaling Regulatory Milestone

The Nigerian Securities and Exchange Commission has awarded Quidax, a local crypto exchange, its first provisional operating license, marking a significant step in the formal regulation of Nigeria’s digital asset industry. This license allows Quidax to operate as a registered exchange, boosting confidence in the Nigerian crypto sector and encouraging innovation. Quidax's co-founder and CEO, Buchi Okoro, commended the SEC for its regulatory advancements under the leadership of Emomotimi Agama.

The license enables Quidax to collaborate with banks and financial institutions, subject to approval by the Central Bank of Nigeria. This move follows a major rule amendment by the SEC on June 21, which included an Accelerated Regulatory Incubation Programme for digital asset service providers. While stringent licensing requirements might reduce the number of local exchanges, the new framework is expected to attract more investment and support Nigeria’s significant role in global cryptocurrency adoption.

Polkadot Partners with Inter Miami; Logo to Feature on Lionel Messi’s Training Kit as Part of Global Sponsorship

Polkadot, the blockchain network, has secured a global training partnership with Inter Miami, marking its logo's debut on the training kits of the football club’s stars, including Lionel Messi and Luis Suárez. The logo will be prominently displayed on the front and back of the players' and technical staff's training tops, set to be unveiled on August 31 before a match against Chicago Fire FC.

As part of the deal, Polkadot will also feature in signage across Chase Stadium and engage fans through interactive activities. Chrissy Hill from Parity Technologies highlighted the sponsorship as part of Polkadot’s commitment to entertainment. This partnership aligns with Polkadot’s recent sponsorships and follows criticism of its marketing expenditures from earlier this year, where $37 million was spent on marketing in the first half of 2024.

Aptos Network Partners with Nillion to Enable Privacy-Preserving Applications in DeFi, AI, and More

Aptos has integrated Nillion, a privacy-focused platform, to enhance support for privacy-preserving applications on its layer-1 blockchain. This integration will enable Aptos to offer confidential decentralized finance (DeFi), private AI assistants, and secure social media, among other applications. Nillion's "blind computation" technologies, including multiparty computation (MPC) and fully homomorphic encryption (FHE), will ensure sensitive data remains private.

This move comes amid concerns about privacy tech following the arrest of Telegram CEO Pavel Durov in France. Aptos, launched by Aptos Labs in 2022, has a total value locked (TVL) of around $425 million and has previously integrated with Ethereum layer-2 scaling network Arbitrum. Nillion’s collaboration with Aptos marks its first partnership with a non-EVM blockchain.

Tixbase Forms Exclusive 5-Year Partnership with Passo to Transform Ticketing Industry Using Avalanche Blockchain 

Tixbase has announced a significant 5-year partnership with Passo, a major Turkish ticketing provider, to integrate their ticketing services with the Avalanche blockchain. This exclusive deal is noted as the largest blockchain ticketing agreement to date. The collaboration aims to address issues such as security, transparency, and user experience in ticketing. By leveraging Avalanche's technology, the partnership will enhance the monitoring of secondary market sales and combat problems like counterfeits and scalping.

Passo, which manages over 25 million tickets annually for various events, will integrate Tixbase's TixChain, a GDPR-compliant layer-1 blockchain. This will include issuing NFT tickets, offering fans collectible digital assets and supporting Passo’s loyalty program. The partnership is expected to impact the $107 billion online event ticketing market significantly.

BNB Chain Teams Up with SingularityNET to Advance Decentralized Storage and Promote Data-as-an-Asset Concept

BNB Chain and SingularityNET have announced a strategic partnership aimed at advancing decentralized storage solutions and promoting the "data-as-an-asset" concept. This collaboration, unveiled on Aug. 29, will integrate SingularityNET’s AI technology with BNB Greenfield, a decentralized storage solution by BNB Chain. The goal is to improve AI systems and enable users to control and monetize their personal data.

This partnership also aims to address practical challenges in generative AI, including concerns over deepfakes and malicious uses. BNB Chain will support the initiative through technical assistance, incubation, and grants for projects that bring these solutions into real-world applications. The integration seeks to enhance the decentralized data economy, building on existing blockchain solutions from platforms like Filecoin, Sia, Storj, and Arweave.

SnakeLite, a Telegram-based Tap-to-Earn Game, Secures $4M in Seed Funding Led by Redpoint with Wide VC Participation

SnakeLite, a novel tap-to-earn game on Telegram, has raised $4 million in a Seed funding round led by Redpoint. The round saw participation from multiple investors including UpHonest Capital, Mirana, Sky9 Capital, and others. SnakeLite uses blockchain technology to offer players an innovative way to explore the Web3 metaverse and earn tokens simply by tapping their screens.

The game supports a vibrant community, allowing players to contribute to its development and earn digital assets effortlessly. This funding will support the game's growth and its efforts to enhance user engagement and expand its ecosystem.

Before you go, here’s a poll you might wanna participate in:

Don’t forget to hit the button that you see below!