GizmoLab Report: Cutting-Edge Developments in Web3 📈

A Quick TL;DR:

- Boson Protocol and Superchief Gallery Tokenize $5.1M Art Collection

- CoinFlip Expands to Mexico with 20 New Crypto ATMs

- PayPal USD Hits $1B Market Cap on Solana

- Ethereum Added to Buenos Aires High School Curriculum

- India Hits 5M CBDC Users, Stays Cautious on Crypto

- DOGS token gets listed on BybitSpot

Boson Protocol and Superchief Gallery Partner to Tokenize a $5.1 Million Art Collection, Highlighting Resurgence in Real-World Asset Tokenization

Boson Protocol and Superchief Gallery have partnered to tokenize a $5.1 million art collection, signaling a resurgence in the market for tokenized real-world assets (RWAs). Announced on August 26, the collection includes 85 unique pieces from notable artists like Louise Nevelson and Buffie Johnson. This collaboration reflects the growing interest in art tokenization despite a cooldown from the 2021 NFT boom.

Boson Protocol's co-founder, Justin Banon, noted the increasing desire to tokenize various asset classes, including art, as markets rebound. The partnership allows users to purchase NFTs representing ownership of the artworks via Boson Protocol, showcasing the expanding role of tokenization beyond traditional financial assets.

CoinFlip Expands Crypto ATM Services to Mexico, Targeting High-Traffic Locations Across Mexico City

CoinFlip, a U.S. based cryptocurrency ATM provider, has expanded its operations to Mexico, marking it as the company’s eighth international market. The rollout includes 20 ATMs in high-traffic areas of Mexico City, such as shopping centers and coffee shops. CoinFlip’s CEO, Ben Weiss, described the expansion as a "logical step" to provide Mexicans with a convenient way to access cryptocurrencies. CoinFlip already operates in several countries, including Canada, Australia, New Zealand, South Africa, Italy, Panama, and Brazil.

Ranked as the second-largest crypto ATM provider globally by Coinatmradar, CoinFlip leads in transaction volume with over 5,200 machines. The company’s ATMs support a range of cryptocurrencies and offer easy-to-use interfaces for buying and selling digital assets. CoinFlip’s expansion into Mexico follows the country’s growing interest in cryptocurrency, as highlighted by its 16th place ranking in the Global Crypto Adoption Index.

PayPal USD Reaches $1 Billion Market Cap Amid Solana's Surge and Attractive DeFi Incentives

PayPal USD (PYUSD), a stablecoin issued by PayPal, has surpassed a $1 billion market capitalization, making it the fifth-fastest stablecoin to reach this milestone. Launched about a year ago, PYUSD ranks as the sixth-largest stablecoin, positioned between Ethena USDe and Tron’s USDD token. The rapid growth of PYUSD has been significantly driven by its deployment on the Solana blockchain, where it accounts for 64% of its total market cap, or about $647 million.

This surge has made PYUSD the fastest-growing stablecoin on Solana, with the potential to overtake Tether (USDT) as the second-largest stablecoin on the network if current trends persist. The growth has been fueled by attractive incentives from major Solana DeFi protocols like Kamino and MarginFi, which offer high annual percentage yields (APYs) to PYUSD depositors. However, concerns have been raised about the sustainability of these incentives, as they may not be viable long-term without continued support from the lending protocols.

Argentina Incorporates Ethereum into Buenos Aires High School Curriculum Amid Rising Crypto Adoption 

Argentina's Ministry of Education has partnered with the ETH Kipu Foundation to introduce Ethereum and blockchain technology into the high school curriculum in Buenos Aires. Starting on August 27, high schools will offer blockchain internships, providing hands-on experience to students. Additionally, an online course will train 500 students in Solidity, the programming language used to develop decentralized applications (DApps) on the Ethereum blockchain.

ETH Kipu aims to prepare 30 instructors to teach Ethereum and blockchain concepts to high school students, promoting new career opportunities and positioning Argentina at the forefront of the global blockchain movement. This initiative comes amid rising crypto adoption in Argentina, driven by a 276% annual inflation rate that has led many citizens to invest in digital assets like stablecoins to preserve their wealth.

India Achieves 5 Million CBDC Users While Taking a Cautious Approach to Crypto Regulation

India has reached 5 million users for its central bank digital currency (CBDC) since launching digital rupee pilots in late 2022, according to Central Bank Governor Shri Shaktikanta Das. The Reserve Bank of India (RBI) is testing the CBDC in both retail and wholesale segments, focusing on payment use cases and exploring offline functionalities. Governor Das emphasized that India is not rushing the CBDC rollout, aiming to understand its impact on users, monetary policy, and the economy before a full-scale launch.

The CBDC is seen as a tool that could revolutionize payment systems, including for domestic and cross-border transactions. Potential features include ensuring targeted fund delivery and enhancing credit access for tenant farmers without land titles. Despite India's progress with the CBDC, the country's regulatory stance on cryptocurrencies remains cautious. The government has no immediate plans to regulate crypto transactions, reflecting a deliberate approach to both digital currencies and assets.

DOGS Are Now Listed on Bybit

DOGS token has officially launched on BybitSpot, signaling a significant opportunity for the crypto community. With Dogs House leading the way, traders can now compete for a share of the impressive 3,410,000,000 DOGS Prize Pool. This listing is set to attract both seasoned and new traders eager to capitalize on the momentum.

Bybit users should note that the prize pool offers a substantial incentive, and trading DOGS on the platform could be a strategic move in the current market. Participants can engage with this new listing, exploring various trading strategies to maximize their potential returns. 

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