Twitter Rebranded, Worldcoin Launched

GM Readers!📪 It's BitDegree Insider, and let's do some Web3 push-ups.

⭐️Today's selection:

• ✖️Twitter Rebranded as X
• 🌍OpenAI Launches Worldcoin
• 💰Venture Monday
• 👌Selected Meme of The Day
• 📰Bite-Sized News

TWITTER REBRANDED AS X

Sayonara to the blue bird!

Elon Musk makes it to the news again. This time because of the bold move to rebrand the iconic social media website. No more Twitter, no more blue bird. The platform's about to be known as X.

The domain of x.com has been acquired, and from now on, it will lead to the platform that used to be Twitter.

Following this, Musk posted a poll on his page, suggesting changing the brand color of the social network to black. The idea was supported by 74.8% of users.

Elon Musk previously stated that "if everything is done correctly, X could become half of the world's financial system". We'll see, and we will see for sure even more changes soon.

This will affect crypto. Even today, Twitter is the #1 battle arena for anything crypto-related. But Twitter is no more, so from now on, X is where it's going to be at.

TL;DR: Elon Musk rebrands Twitter as X and acquires the domain x.com, with potential plans to make it a significant part of the world's financial system, impacting the crypto community as it becomes the new hub for crypto-related discussions and news.

OpenAI LAUNCHES WORLDCOIN. WHAT IS IT?

The minds behind ChatGPT are embarking on a new endeavor.

They are also the driving force behind Worldcoin, a company that recently launched its own token, $WLD. This new token quickly made its way onto all major cryptocurrency exchanges. But what exactly is Worldcoin?

Is it the greatest airdrop ever, the next frontier of cryptocurrency, or a potential scam? Let's dive deeper and understand more about it.

Initiated in 2019, this project is the brainchild of Sam Altman, the CEO of OpenAI. It's intriguing to see that the company behind ChatGPT is also venturing into the realm of cryptocurrencies.

The project has managed to garner more than $200M in funds and was featured in one of the previous "Venture Mondays".

So, what does Worldcoin aim to achieve?

The accelerated advancement of artificial intelligence has given rise to numerous challenges, one of which is establishing proof of humanity.

Worldcoin's objective is to equip every individual with a World ID. This 'passport' would leverage biometric data from users' irises. It certainly sparks a bit of unease.

Initial users of a mobile application that links to the Worldvoin network were gifted WLD tokens in exchange for verification through the Orb.

Considering today's launch, the value seems to be around $60 per scanned iris. Uhmmm… That definitely sounds dystopian.

What's the dark side of Worldcoin?

• At the moment, we have very little information about the tokenomics.
• Worldcoin ensures that users' biometric data is protected & encrypted, however, security issues have been reported in 2021. Several computers responsible for managing biometric data were hacked. Improvements were made in 2022, implementing ZK proof technology. Colossal financial interests are at stake, so information released should always be taken with caution.
• ID Reselling. Well, this one is pretty easy to describe, which simply can be seen in the post below.

TL;DR: The creators of ChatGPT have launched Worldcoin, a cryptocurrency project aiming to provide a World ID leveraging users' irises for proof of humanity, but concerns about privacy and security arise. The token's tokenomics and potential dark sides, including ID reselling, remain unclear and warrant cautious consideration.

VENTURE MONDAYS

Web3 game developer Xterio has secured $15M in a funding round led by Binance Labs Fund.

Xterio, renowned for its focus on free-to-play games that include optional NFT purchases, will use this funding to further its presence in the Web3 gaming industry, harnessing the expertise of professionals from giants such as Blizzard and EA.

Developer of Manta Network raised $25M in a Series A funding round led by Polychain Capital and Qiming Venture Partners, with participation from Alliance, CoinFund, and SevenX Ventures.

Manta Network is a modular Layer-1 and Layer-2 blockchain, focusing on zk dApp, built on the basis of Cosmos SDK.

The project's still in its early stages. Which means… An opportunity for active participation with hope that it could get rewarded as the project matures!

Here are the steps to follow:

• Start with a warmup, and make sure you're sitting straight!
• Next, head over to the website and immediately add the Manta test network to your wallet.
• At the same spot, claim your Goerli ETH test on the site (or wherever it is convenient for you).
• Repeat the same process with the button below, but this time receive the Manta network's test ETH.
• Scroll down the site and try out the Deposit function: bridge the Goerli test ETH to the Manta Layer-2 network.
• Navigate to the "Withdraw" tab and transfer your funds out, repeat this process a few times.

Don't forget to do your own research regarding their additional activities. Good luck!

SELECTED MEME OF THE DAY

BITE-SIZED NEWS

• FSC Chairman Proposes Regulatory Framework for Crypto and Stablecoins. Legislators in the US seem to be taking significant steps toward digital asset regulation.
• Crypto Payment Processor Alphapo Falls Victim to Over $31 Million Hack. Crypto and blockchain investigators believe that the hack was caused by a private key leak.
• Ripple's Brad Garlinghouse Criticizes SEC for Regulatory Ambiguity. In response to recent SEC comments, Ripple CEO claims it is "absurd" to blame the judge for simply enforcing the law.

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