• Decentra Daily
  • Posts
  • 🍎 Apple to allow NFTs but want a piece of the pie! 🥧 💸

🍎 Apple to allow NFTs but want a piece of the pie! 🥧 💸

Author

Decentra Daily
October 03, 2022

GM, welcome back to Decentra Daily where we bring you the best NFT and Web3 news.

Estimated read time: 3 minutes

Today's stories:

  • Apple allows NFTs but takes a big bite in commissions

  • Pic of the day – statue of Satoshi

  • How’s ETHW doing post-merge?

Apple allows NFTs but takes a big bite in commissions

Apple NFT money - Midjourney AI

Following in the footsteps of Insta, FB, and Twitter – who now all support displaying NFTs in some form – web2 titan Apple is letting users buy NFTs as in-app purchases on the App Store.

The catch? They want 30% of all sales revenue from developers. Also: no crypto – fiat purchases only.

So what’s the deal here? Is this another step towards mainstream NFT adoption, or an attempt by Apple to price web3 developers off their all-encompassing mobile marketplace?

– A little of both?

Sure, that’s an arguably outrageous cut (especially compared to OpenSea’s 2.5%) that causes serious worries about whether smaller startups in the space will be able to effectively function.

But, officially integrating NFTs into the App Store means that a highly trusted purchasing method is now natively available on around half of the smartphones in the US, not to mention the rest of the world…

Pic of the day – statue of Satoshi

The Satoshi Nakamoto statue in Graphisoft Park, Budapest.

According to the website: “The Satoshi Statue project has been created by four of the most prominent players of the Hungarian crypto space, and with the contribution of the Hungarian crypto community.”

Somebody’s tokenized this, right?

How’s ETHW doing post-merge?

Just after Ethereum became a proof-of-stake blockchain on September 15th, a collective of miners headed by Chandler Guo forked the chain, creating Ethereum PoW, with the token ETHW.

Here’s a tl;dr on what’s been happening with ETHW since the merge.

Its price climbed, then dropped

As announcements of the merge completion came in, ETHW soared from $34.08 to over $60, but then fell sharply to less than half its pre-merge price.

Network issues on launch

After the Mainnet went live, users began reporting that they couldn’t access the network. It turned out that ETHPoW had chosen to launch their chain using an ID that was already in use.

It suffered its first hack

A day or so later, reports emerged of a smart contract hack. BlockSec, the blockchain security firm, posted about a ‘replay attack’ that stole 200 ETHW from the chain. As news circulated, ETHW fell 37%.

ETHPoW later underlined that the attack was “not a replay attack against ETHW, but an attack against a bridge contract vulnerability,” and did not affect the wider network.

+20 mining pools

The number of active mining pools for ETHW is slowly growing.

Binance supports ETHW

This week, Binance began distributing ETHW to users who’d bought before the fork. The exchange also added ETHW to its Convert platform. Users can sell ETHW against BUSD and USDT.

A handful of other exchanges let users trade ETHW. These include FTX, Gate.io, and MEXC.

What’s next?

The current price of ETHW is $10.5, but more worryingly for ETH PoW supporters, however, is the viability of the chain for miners:

Headlines of the day

Disclaimer: Nothing in this article/newsletter should be considered financial advice. The purpose is to inform readers of the current trends and news in the web3 space. We encourage every reader to do their own research and not act upon information put forth by Decentra Daily.