Shiba Inu is seeking to get approval for the “.shib domain” in order to bridge Web2 technologies with Web3 ones. SHIB holders would be able to create email addresses that are easy-to-use with the “.shib suffix” if approved. D3 also plans to create “name tokens”, which will simplify the transfer of digital assets across blockchains, for SHIB holders.
Immutable also introduced the “Immutable Passport”, which streamlines user experiences for Web3 games. Several popular apps have already integrated with this system. Alchemy Pay has partnered up with Worldpay in order to allow traditional payment methods when purchasing crypto. This partnership fosters integration between the traditional financial sector and digital assets ecosystem. Michael Saylor recently said that the approval of a Bitcoin spot ETF could have a major impact on Wall Street. It would even be comparable to the S&P Index in the 1990s.
Shiba Inu plans to launch a.shib domain
The Shiba Inu meme team has applied for the “.shib domain” on the Internet’s Domain Name System. D3, an internet domain company, leads this effort to bridge Web2 and Web3 technology.
Web3, a company that is associated with decentralized apps (dApps) and blockchain technologies, introduced extensions such as “.crypto”. The non-standard DNS operation of these extensions prevents them from seamlessly integrating with common internet tools such as web browsers or email.
Web2 domains, such as “.com” or “.net”, operate in the DNS framework, but are not natively compatible with Web3 applications, including cryptocurrency wallets, digital identity tools and other Web3-based services. This gap can be bridged by the application of “.shib”. SHIB token owners would be able to use “.shib”, a unique suffix, for their email addresses if approved. These addresses are fully compatible with email programs, which makes them very convenient.
The initiative doesn’t stop with email addresses. D3 has also plans to introduce “name tokens” for SHIB Users. Name tokens are a simple way of sending digital assets between blockchains, without having to use long wallet addresses. It is also important to remember that “.shib”, the domain application, is still under review and may be subjected to regulatory concerns.
Shiba’s announcement of a domain name isn’t the only thing happening in the crypto world as we approach the end of the year. Immutable, the popular Web3 publisher, launched its “Immutable Passport”, a new wallet, on December 19. Immutable Passport was designed to simplify the user’s experience through multiple login options. Users can create their wallets and retrieve them using their Google, Apple or traditional email addresses.
Five popular apps and games have integrated the Immutable Passport to kickstart its adoption. These include Gods Unchained (as well as Blocklete Golf), B/R Watch 2 Earn (also known as B/R Watch 2 Earn), TokenTrove and AtomicHub. They have a combined user base exceeding 500,000.
Immutable Passport’s launch is accompanied by the introduction of an intuitive dashboard. The dashboard is a central hub that provides a variety of features to enhance the gaming experience. Users can easily discover new games and manage in-game assets, add money, or link their third-party wallets.
Passport by Immutable isn’t the only thing new that the company has done during this holiday season. Transak was integrated as a payment method for the games by Immutable earlier in December. Immutable also announced on December 13 that it would introduce gas-free transactions for its platform zkEVM in 2024.
Alchemy Pay Partners with Worldpay
Alchemy Pay, a fintech company based in Singapore, announced recently a partnership between the United Kingdom payment processor Worldpay. The partnership was announced on December 19, and will allow Alchemy Pay customers to use Worldpay Visa and Mastercard channels to buy cryptocurrencies using their debit and credit cards. This partnership aims to close the gap between traditional finance and the emerging digital asset eco-system by allowing users to use their credit or debit cards to purchase crypto.
Robert McCracken expressed his excitement about the partnership. He said, “Alchemy Pay will now be better placed to assist our users and business partners in seamless cryptocurrency transaction worldwide.” Nabil Manji echoed the sentiments of Robert McCracken, Alchemy’s ecosystem lead, and emphasized the aligned mission of Alchemy Pay and Worldpay in terms of fostering integration of traditional and digital worlds. Worldpay is actively integrating Web3 technologies. This can be seen in its partnership with Okcoin, in July 2021, to provide infrastructure for Fiat-to Crypto onboarding.
The biggest Wall Street development in decades is the emergence of Spot Bitcoin ETFs
Bitcoin ETFs are a must-have for any article on crypto development. Michael Saylor, a well-known Bitcoin enthusiast and advocate, has boldly predicted the approval of an exchange-traded spot Bitcoin (BTC). Saylor said in a Bloomberg interview on December 19, that the approval of a spot Bitcoin (BTC) exchange-traded fund could rival the creation the S&P Index.
A spot Bitcoin ETF, he believes, would provide a vital gateway for institutional and retail investors to get access to a high bandwidth channel to invest in Bitcoin. Saylor believes that approval of the ETF will act as catalyst to spur demand. A subsequent “supply-shock” is expected for April coinciding the Bitcoin halves.