This Week in Crypto
October 21, 2022
This Week in Crypto is a weekly newsletter from MXC Foundation, which compresses the major news stories from the crypto-verse into a condensed, easily digestible newsletter.
MXC Foundation provides related insights into each news story, helping you make sense of it all.
Warner Bros brings LOTR to Web3
The American film and entertainment studio Warner Bros is moving the “Lord of the Rings” franchise on-chain, launching Web3 movie experiences.
Users can expect the interactive Web3 experience of LOTR as early as October 21st. Warner Bros has partnered up with Eluvio to migrate the film series on to blockchain. Remember when the extended Lord of The Rings movie was shortened?
Warner Bros making the purchase of NFTs possible will allow collectors & LOTR enthusiasts to watch the extended version of the film. Owners of the NFTs will also have special access to augmented reality capabilities as well as being able to discover collectibles while watching the movie.
Key Takeaway
Sure, the crypto markets are still a little slow, but that doesn’t mean anyone should stop building. During these markets, lots of Web3 applications, NFT innovations and more are being built. Major multinational companies such as Warner Bros, making their move to crypto with an emphasis on Web3 and NFTs. MXC will also launch its introduction into Web3 by offering DApps, FNFTs and much more in 2023. Want to be the first to know? Follow our announcement channel.
2022 the year of crypto exploits
The Crypto industry has seen a culmination of many hacks, exploits and crashes this year along with many multi-billion dollar losses as a result. The small investor usually bears the brunt of this and can lose trust and faith in Crypto.
This year we witnessed many exploits and hacks, one of them being Axie Infinity, where private keys were taken by hackers who gained access to the cross-chain Ronin Bridge. However, most of the discussions were about the crash of Luna, where billions of funds were lost and shocked the entire cryptocurrency industry. We’ve also seen what happened to Celsius, in accordance to filing bankruptcy and even halting their chain. Another addition to this list is the Solana Wormhole Attack, one of the most popular bridges between Ethereum and Solana where a large $320 million in funds were stolen. Most recently the exploit of the cross-chain bridge BSC Token Hub.
Key Takeaway
Having to deal with one of these hacks, exploits and crashes is never a good thing. It’s important that you take a good look at the safety and security of each cryptocurrency you invest in. Fortunately, at MXC we strive to make it as easy as possible for you. The network that we build is secure, scalable and robust with the implementation of many security layers on top. All of these features are built-in on the DataDash App — Optimal security and easy to use.
The end of Crypto Winter
Still feeling those crypto winter blues? It’s time to move your focus point to adoption, growth and developments. More investors are making their entrance into cryptocurrency. Amid the winter, many more participants are entering the environment. Institutional investors are increasingly interested in crypto, often preferring it over the traditional stock market.
You can see that the price of BTC or ETH is quite modest. The indicators are not yet accompanied by recent developments and new investors. There is continuous building in the crypto environment and investors should look at project innovation, not at the red lines.
Key Takeaway
Regardless of the market conditions, the most important thing in crypto is to be able to continue to build. Find the right projects that are building the future — as they will eventually reflect the progress made on price. As Q4 is nearing its closure, many companies are focusing on finalizing their roadmap to move onto the next year. At MXC we will introduce the Data Network going live in 2023 along with DeFi products, MXC Controller and much more!
Conclusion
If you are interested in crypto and would like to invest in digital money, it is best to run as little risk as possible and collect a “pot” of different tokens.
One of the easiest options and also the simplest, is to purchase, for example, a miner that can mine several tokens at the same time. MatchX makes this simple with the M2 Pro Miner, a multi-token crypto miner with almost no power cost.
Exciting Competition for All DataDash Users
While the end of the year is slowly but surely approaching, we at MXC have decided to create a competition for all DataDash users! This competition does not take into consideration your staking amount at all, making it truly inclusive for everyone. All you need to have is a DataDash account — and make sure to note what your DataFunk Egg NFT looks like!
Interested in winning Oculus VR Headset, exclusive apparel, merch pack and more? Follow us on Twitter. Round 2 starting very soon!
