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The Token2049 conference in Singapore has once again proven to be a key event for the crypto industry, showcasing major advancements and collaborations.
The event covered everything from Ethereum’s growth to new partnerships in sports and AI, highlighting how the industry continues to evolve.
Vitalik Sings Ethereum’s Progress: Fees, Speed, Future
Ethereum creator Vitalik Buterin surprised Token2049 attendees by delivering his speech in the form of a concert. Despite the unusual presentation, he shared key updates on Ethereum’s progress.
Buterin highlighted how Layer-2 networks have reduced transaction fees and improved transaction confirmation times to just 5 to 15 seconds.
He also stressed the importance of balancing mainstream adoption with Ethereum’s core values of decentralization and open-source development. Buterin briefly mentioned the ongoing competition with Bitcoin, which currently dominates 58% of the market.
Bitget Partners LaLiga: Crypto Meets Football
On the second day of Token2049, global crypto exchange Bitget announced a partnership with LaLiga. The collaboration, timed with Bitget’s sixth anniversary, will focus on leveraging blockchain technology alongside LaLiga’s ventures into AI, virtual reality, and the metaverse.
Bitget CEO Gracy Chen highlighted the alliance’s potential to connect with millions of football fans in emerging markets. This follows Bitget’s 2022 partnership with Lionel Messi, reflecting the growing overlap between crypto and sports.
Solana Mobile Unveils ‘Seeker’: Next-Gen Web3 Smartphone
Solana Mobile, a subsidiary of Solana Labs, has unveiled its second-generation Web3 smartphone, called “Seeker”. Previously referred to as “Chapter Two,” Seeker has already secured over 140,000 presale units across 57 countries, according to Emmett Hollyer, Solana Mobile’s general manager. The device is set for release in 2025 and aims to further Web3 mobile development within the Solana ecosystem.
Seeker’s key features include a seed vault wallet, Solana dApp Store 2.0, a Seeker Genesis token, and enhanced hardware. The Early Founder price is $450 until September 21, 2024.
This launch comes after the Saga phone faced initial struggles with sales, but later sold out following a surge in the value of the BONK meme coin.
Chainlink’s Sergey Nazarov Predicts RWA Surge
Chainlink co-founder Sergey Nazarov once again predicted that tokenized real-world assets (RWA) will soon surpass cryptocurrencies in value on Web3. During his keynote at Token2049, he stated that TradFi will become decentralized finance’s (DeFi) largest customer, reshaping the blockchain industry.
Nazarov highlighted Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as crucial in connecting various financial systems. He noted that Chainlink’s oracle network has already enabled $15.49 trillion in transaction value since 2022.
To integrate with blockchain, TradFi needs access to diverse data types and cross-chain connectivity. CCIP offers programmable token transfers, allowing value and data to be included in single transactions.
CertiK Announces Free Web3 Security Tools
CertiK, the prominent blockchain security firm, announced a major upgrade to its Web3 services. The company introduced two free community security tools: Token Scan and Wallet Scan, aimed at increasing user asset protection.
Token Scan offers instant security checks for tokens, helping users detect potential scams on networks like Solana. Wallet Scan allows users to assess their wallets for risks such as approval vulnerabilities, and interactions with phishing addresses.
These tools were developed based on CertiK’s extensive experience, including over 70 white hat operations, reporting of 4,000+ security incidents, identification of 115,000 code vulnerabilities, and protection of approximately $360 billion in assets.
Hollywood Veteran Critiques Celebrity Meme Coins
Andrew Saunders, a former Hollywood executive and now Skale’s chief marketing officer, voiced criticism of celebrity-backed meme coins at Token2049. Despite his background in entertainment, Saunders warned against these tokens due to concentrated supply and high risk, likening them to a player-versus-player game where early entry is key to making a profit.
Looking ahead, Saunders predicted a shift in the landscape as crypto regulations become clearer and public understanding improves. He envisioned a future where celebrities use blockchain to connect with fans in a more meaningful way, accessing unique data through an “arm in” model.
As a better alternative to meme coins, Saunders suggested that celebrities develop decentralized applications (DApps) where fans could earn points through social interactions. These points could then be redeemed for exclusive experiences or merchandise.
Solidus Ai Tech and SambaNova Partner for Web 3.0 AI
Solidus Ai Tech has partnered with SambaNova Systems to advance AI in Web 3.0 by integrating SambaNova’s RDU stacks into Solidus Ai Tech’s AI marketplace and European HPC Data Centre. This collaboration promises unprecedented speeds in AI inferencing and fine-tuning.
Set to launch in September, the AI Marketplace will feature advanced AI models powered by SambaNova’s SN40L chip, making high-performance AI accessible across various industries. Paul Farhi, CEO of Solidus Ai Tech, described it as a major leap for AI, while Su Le from SambaNova emphasized the potential for decentralized intelligence in Web 3.0.
Venture Trio Launches Fund for Aptos Ecosystem Growth
MEXC Ventures, Foresight Ventures, and Mirana Ventures have joined forces to establish a new fund aimed at boosting the Aptos ecosystem. This collaborative initiative will focus on supporting promising projects built on the Aptos platform, with a particular emphasis on developing crucial Web3 use cases.
The fund will prioritize projects that leverage Aptos infrastructure, including technologies like Block-STM, and those that facilitate seamless interoperability with key EVM ecosystems. This strategic investment demonstrates strong confidence in Aptos’ technological advancements and future potential.