Enya Labs and DMCC Join Forces to Boost Web3 and Blockchain in Dubai

• Enya Labs has signed a partnership agreement with Dubai Multi Commodities Centre (DMCC).
• The DMCC Crypto Centre ecosystem is further strengthened by the significant technology cooperation with Enya Labs.
• Boba Network, the first hybrid blockchain that provides off-chain data and computing, enables smarter applications.

Enya Labs Signs Partnership Agreement With Dubai Multi Commodities Centre (DMCC)

The prominent developer of decentralized infrastructure solutions, Enya Labs, has announced a partnership with the DMCC and Government of Dubai Authority on Commodities Trade and Enterprise. The agreement strengthens the ecosystem of the DMCC Crypto Centre, allowing companies to leverage their current operations with hybrid blockchain solutions provided by Boba Network.

Boba Network: A Hybrid Blockchain Platform

Boba Network is a global platform that enables blockchain and web3 companies to create next-generation decentralized applications (dApps) at lower transaction and computation costs and higher throughput. It provides smart contracts across several different blockchain networks such as Ethereum, Moonbeam, and Avalanche. Furthermore, Boba Network offers developers Hybrid Compute technology which allows them to develop dApps that use “off-chain” data from web2-based systems.

Partnership Strengthens Ecosystem of DMCC Crypto Centre

The partnership between Enya Labs and DMCC will greatly promote expansion of web3 and blockchain enterprises in Dubai by providing them access to Boba Network’s advanced technology solutions. Executive Chairman and Chief Executive Officer Ahmed Bin Sulayem commented on this partnership saying that it was “the true testament to thriving ecosystem” created by DMCC Crypto Centre.

Enya Lab’s Core Contribution to Boba Network

As a Core Contributor to Boba Network, Enya Labs plays an important role in assisting partners who want to take advantage of new opportunities facilitated by hybrid blockchains. The company offers services to customers as well as organizations through its focus on distributed systems engineering and application development spearheaded by Stanford academics and graduates.


The collaboration between Enya Labs‘ expertise in software frameworks along with Boba Networks‘ hybrid blockchain technology will give businesses based in Dubai access to cost saving solutions for creating dApps with increased throughputs. This marks an exciting opportunity for both parties involved as they will be able expand their capabilities together while being able penetrate new markets that have yet been explored before now due to technological limitations


College Student Commits Suicide After Falling Victim to Crypto Scam

• A second-year B.Com student in the Indian city of Lucknow committed suicide after investing 3.5 lakhs ($4,200) in a cryptocurrency investment firm, only to not receive any returns on their investment.
• The Indian government has expressed wariness towards cryptocurrencies due to their decentralized aspect, with recent bankruptcies and crypto frauds only amplifying anti-crypto voices.
• Police have launched an investigation into the incident and are taking the family’s complaint seriously, though the Indian crypto lobby is discouraged by the government’s 30% tax on crypto transactions.

Indian College Student Commits Suicide Over Crypto Scam

A second-year B.Com student from Lucknow, India committed suicide after losing a sizeable amount of money to a cryptocurrency investment scam. The victim had invested 3.5 lakhs ($4,200) in bitcoin after hearing promises of significant returns from a company he found on Telegram messaging app. However, once he requested his funds back, representatives stopped all forms of contact and failed to return his money or profits resulting in him taking drastic measures leading to his untimely death.

Indian Government’s Wariness Regarding Cryptocurrency

The Indian government has been wary about cryptocurrency due to its decentralized aspect for quite some time now with recent bankruptcies and crypto frauds further amplifying anti-crypto voices within the country. This particular incident highlights how serious these scams can be and why it is important for investors to conduct thorough research before investing into any such schemes that guarantee high returns over short period of times as they are usually too good to be true and it could end up costing you your life savings if you aren’t careful enough.

Police Investigation Launched

Local police have launched an investigation into this terrible occurrence upon receiving a complaint from the victim’s family members who were present at the scene when he took his own life by hanging himself with a piece of fabric according to Santosh Kumar Arya, a police investigator who also confirmed that initial inquiries established that the investment firm was legitimate hence further investigations would be conducted if needed based on what is uncovered during this case study .

Crypto Lobby Discouraged by Tax Policy

The Indian crypto lobby is already discouraged by the government’s 30% tax on crypto transactions which can act as another deterrent for potential investors looking at entering this space just because they fear being scammed or falling prey to fraudulent activities . Though strict regulations might help reduce such occurrences but it could also lead people away from adopting cryptocurrencies completely causing more harm than good in terms of adoption rate within India itself .


In conclusion , we must make sure that adequate safety measures are put in place so that such unfortunate events don’t happen again as no one should ever lose their life savings just because they wanted to invest into something new or explore different avenues that could potentially provide them with better financial outcomes than traditional methods . It is our duty as responsible citizens & traders operating in this space make sure that we take all necessary precautions while transacting online & never fall prey to scammy deals & platforms as it can cost us dearly if we don’t pay attention & practice due diligence while dealing with such matters .


Bitcoin NFTs to Reach $4.5B Market Cap by 2025 – Here’s What to Know

• Bitcoin NFTs may reach a market cap of $4.5 billion by March 2025.
• Ethereum and Solana have been leading the field of NFTs, with recent talks about Bitcoin NFTs gaining attention.
• The inscriptions minted on NFT crossed over 200K in just 3 months and Bitcoin vs Ethereum NFTs was compared by Galaxy Research.

Bitcoin vs Ethereum NFTs

Bitcoin and Non-Fungible Tokens (NFT) have had a long history together since 2012 when Namecoin, the first NFT, was minted on Bitcoin’s blockchain. Galaxy Research estimates that if the market is in a bull phase, then the market capitalization for Bitcoin NFTs could be around $10 billion. In a worst-case scenario, the market cap would be around $1.5 billion and in a neutral situation it could reach up to $4.5 billion by March 2025.

Leaders in the Field of NFT

Ethereum and Solana are some of the well-known leaders in the field of Non-Fungible Tokens (NFT). After the launch of Ordinal at the start of this year, many customers started migrating from existing marketplaces to new ones such as Opensea. This led to an increase in inscriptions minted on these platforms which ended up reaching over 200K within 3 months time frame. One major update came from Yuga Labs‘ announcement called „TwelveFold“ while another one was provided by Galaxy’s research unit concerning Ordinals and inscriptions including comparison between Bitcoin and Ethereum based tokens.

Impact on Network Stability

The introduction of more activities related to Bitcoin has divided its community into two – one group believes that it will maintain network stability while there is also concern regarding high transaction numbers affecting gas fees which can make it difficult for small-scale transactors to participate in transactions using this digital currency platform.

Recent Updates

Recent updates regarding Non-Fungible Tokens (NFT) include news from Yuga Labs announcing their „Twelvefold“ project as well as details from Galaxy’s research unit about Ordinals and associated inscriptions comparing them between Bitcoin and Ethereum based tokens along with other developments like those related to Opensea marketplace migrations etc.,


Overall, there has been an increasing trend in activities related to Non-Fungible Tokens (NFT) especially since early 2021 with various updates being released regularly including those related to projects like Twelvefold as well as comparison between different platforms like Etheruem Vs Bitcoin based tokens etc., There is still some divide among experts regarding whether or not this increased activity will impact network stability due to higher transaction numbers or not but regardless, it appears that the market capitalization for these tokens could reach up to $4.5 billion by March 2025 according to Galaxy Research estimates


Unique Rabbids Avatars Now Available as NFTs!

• Ubisoft and The Sandbox have partnered to develop 2,066 unique Rabbids avatars.
• These avatars will cost 100 SAND (about $78 USD), and the designs will be available Friday.
• This is a major step forward for the NFT gaming industry as a whole.

Ubisoft Partners With The Sandbox

Ubisoft has partnered with Animoca Brands‘ The Sandbox to release 2,066 unique Rabbids avatars, each with its own abilities and customization options. These avatars can be purchased for 100 SAND (around $78 USD). As 2023 is the Year of the Rabbit, these characters are dressed in Chinese New Year style.

Rabbids Avatars As „Key To Future Utility“

The Sandbox has made these Rabbids avatars a „key to future utility“, allowing users to access upcoming drops in-game. Furthermore, The Sandbox expanded its NFT Institute over the summer to include Rabbids characters, NFTs, and accessories.

Ubisoft’s Web3 Efforts

This isn’t Ubisoft’s first foray into web3 technology; in 2018 it developed a prototype called HashCraft which was heavily influenced by Minecraft but was ultimately scrapped. It later invested in gaming studio Horizon and metaverse investment firm Animoca Brands, as well as investing in NFT video game development such as Axie Infinity and Nine Chronicles.

NFTs In Ghost Recon Breakpoint

Finally, Ubisoft also included Tezos-based NFTs in the PC edition of Ghost Recon Breakpoint – another way they have been pushing their Web3 efforts forward with NFTs.


Overall this partnership between Ubisoft and The Sandbox shows that major video game companies are taking note of Web3 technology and acting accordingly with regards to NFTs – offering an exciting new way for players to enjoy their games!


Aura Network Raises $4M from Hashed and Coin98: NFTs Here to Stay!

• Aura Network has closed a $4M fundraising round, co-led by Hashed and Coin98 Ventures.
• The investment of Hashed, South Korea’s highest-profile crypto investment firm, is one of the most significant fundraises for Aura Network.
• Strategic relationships with investors and partners will provide advice on operations, product and business development, marketing efforts and more.

Aura Network Raised $4M in Pre-Series A Funding Round

Aura Network recently closed a $4 million fundraising round led by Hashed and Coin98 Ventures. This is one of the most significant fundraises for Aura Network with the investment from Hashed, South Korea’s highest-profile crypto investment firm. In addition to their funding, strategic relationships with these investors and partners will offer advice on its operations, product and business development, marketing efforts and more.

Hashed Co-Leads Fundraising Round

Hashed was delighted to back Aura in its pre-mainnet round. They are impressed with Aura’s technical track record which has allowed them to become one of the biggest open source contributors to Cosmos. Hashed believes in Aura’s vision in building a comprehensive layer one that supports NFTs gaming, DeFi protocols like MakerDAO and sustainable DeFi projects.

Coin98 Leads Investment Round

Coin98 was also thrilled to support Giang and his team at Aura from the start as they have developed daily towards their goal of providing a trustworthy lightning fast network that supports NFTs gaming . Thanh Le Founder of Coin98 stated “By providing…NFT widely accepted” Coin98 is committed to helping facilitate this worldwide adoption .

Other Investors Engaged

In addition to Hashed & Coin 98 , other notable Blockchain projects including GuildFi , Istari Ventures , Republic Crypto & angel investors were engaged during this fundraising round . These strategic partnerships will help provide further insight into operations , products & business developments as well as marketing efforts .

What’s Next For Aura?

The team at Aura are looking forward to continuing their mission towards Web3 & NFT adoption while standing on the shoulders of giants such as Cosmos & other leading blockchain networks . With this new funds raised it looks like 2023 could be an exciting year for both Auranetwork & its users!


Uniswap V3 Deployed to Boba Network: Faster, Cheaper Transactions Now Available!

  • The Boba Foundation and FranklinDAO proposal to deploy Uniswap v3 on the Boba Network L2 on Ethereum was successful, with a majority of the community voting in favor.
  • Boba Network is the only multichain layer-2 blockchain scaling solution and smart contract platform that enables Web3-Web2 interoperability.
  • Enya Labs is the primary contributor to Boba Network, helping customers and organizations create hybrid on-chain/off-chain DeFi applications atop of Uniswap.

Uniswap Community Votes to Deploy on Boba Network’s Ethereum Layer-2

Proposal Approved by Majority Vote

The Boba Foundation on behalf of the Boba network community is pleased to announce that the governance vote to deploy Uniswap v3 on the Boba Network L2 on Ethereum was successful. Reputable groups like FranklinDAO (formerly Penn Blockchain), GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys supported this proposition. A majority of 51.01 million out of 40 million voted in favor of it.

About Boba Network

Boba Network is a multichain layer-2 blockchain scaling solution based on optimism which allows lightning fast transactions with fees significantly lower than layer-1. It supports smart contracts which allow developers to make use off-chain computation and real world data for improved experiences. It has already released multichain support for Avalanche, BNB, Moonbeam, and Fantom.

Enya Labs – Primary Contributor To Boba Network

Enya Labs is a pioneer software framework with focus distributed systems engineering and application development founded by Stanford academics and alumni. Its goal is to maximize potentials of rollup technology for more open communication between web 2 & 3 platforms as well as enabling interoperability between them.

Hybrid Computing Technology For Improved Experiences

With help from better smart contracts enabled by hybrid computing technology brought by Enya labs , developers will be able to provide improved experiences for decentralized apps while allowing users access power of web 2 interfaces within web 3 protocols via interoperability enabled by Boba network .

Uniswap V3 Deployment On The Horizon


Brazil Embraces Blockchain for Government Operations

• The Brazilian Development Bank established the Brazilian Blockchain network in May.
• Sao Paulo’s new municipal data and transparency law recognizes blockchain as a tool that may be utilized to facilitate government operations.
• Blockchain technology provides a public view of each transaction, it may be used to help in the identification of corruption and to ensure compliance for public servers.

Brazil has been one of the earliest adopters of blockchain technology, and has been steadily embracing it for the past few years. In May of this year, the Brazilian Development Bank established the Brazilian Blockchain network, a move that signaled the country’s commitment to the technology and its potential applications.

More recently, Sao Paulo, the largest city in Brazil, has implemented a new municipal data and transparency law that recognizes the use of blockchain technology to facilitate government operations. The legislation acknowledges the potential of blockchain technology to improve data accessibility and openness, but does not specify how this technology should be used.

The law’s author, Maria De Carli, has defended the broad terminology used to describe blockchain technology in the text. She believes that specific technological applications should not be spelled out in legislation, but rather addressed with the municipal law. De Carli also noted that blockchain technology provides a public view of each transaction, which can be used to help in the identification of corruption and to ensure compliance for public servers.

The Brazilian government’s embrace of blockchain technology has been seen as a positive step in the country’s development, and it is expected that other countries will soon follow suit. The potential applications of blockchain technology are vast, and its use in government operations could be a major step towards greater efficiency and transparency. With the new Sao Paulo law and the Brazilian Development Bank’s network, Brazil is showing that it is serious about embracing this technology and using it to further its progress.


Playtika Offers 683M Euros to Acquire Rovio in Cash Deal

• Israel-based game developer Playtika Holding Corp has offered to acquire Finnish game developer Rovio Entertainment Corporation for 683 million euros.
• The acquisition price works out to 9.05 euros per share, which is around 60% higher than Rovio’s closing price on January 19.
• This is the second acquisition offer from Playtika to Rovio, with the previous offer being 8.50 euros per share.

Israel-based mobile games developer Playtika Holding Corp has recently sent an acquisition proposal to Finnish video game developer Rovio Entertainment Corporation. The proposed acquisition deal would be worth 683 million euros, or 9.05 euros per share, paid in cash. This offer is around 60% higher than Rovio’s closing price on January 19.

Playtika, which is best known for its mobile and social casino games, is looking to expand its portfolio by acquiring Rovio, the company behind the popular Angry Birds franchise. This is the second acquisition offer from Playtika to Rovio, with the previous offer being 8.50 euros per share.

Playtika CEO Robert Antokol commented on the offer, saying, “We firmly believe the combination of Rovio’s iconic brands and characters with Playtika’s industry-leading capabilities and technologies will create a powerful platform for continued growth and innovation.”

Rovio has yet to respond to Playtika’s offer, and there is no guarantee that any transaction will take place. Playtika’s offer is subject to customary closing conditions, and the proposed acquisition is expected to be completed in the first quarter of 2022.

The proposed acquisition could potentially bring together two of the most successful mobile game companies. Playtika is a leading provider of social games, with its portfolio of titles including Slotomania, Bingo Blitz and World Series of Poker, while Rovio is known for its successful Angry Birds franchise, which has spawned numerous sequels, spin-offs and merchandise.

If the acquisition is successful, it could create a powerful platform for continued growth and innovation in the mobile game industry. We will have to wait and see if Rovio accepts Playtika’s offer and if the two companies can come to an agreement.


Stripe Receives Second Valuation Cut in 6 Months, Now Valued at $63 Billion

• Stripe, an Irish-American financial services and SaaS company, has received its second valuation cut in 6 months.
• The latest valuation pegs the company’s internal value at $63 billion after an 11% cut in its share price.
• The valuation from 409A is done by third parties under the rules that are put in place by the Internal Revenue Service (IRS).

Stripe, an Irish-American financial services and SaaS company, has been struggling with the current market outlook in recent months. In November, the company laid off 1,120 of its workers, and now, it has received its second valuation cut in 6 months. The latest valuation pegs the company’s internal value at $63 billion after an 11% cut in its share price.

Unlike publicly listed companies whose valuation can easily be showcased through their market capitalization, the case is different for private outfits like Stripe. Rather than depend on the market capitalization of its stock, private entities get valued after a funding round or through a third-party estimation using a benchmark of factors. In the case of Stripe’s recent valuation cut, no funding was raised, and the estimation was done through the 409A price change.

The 409A price change is conducted by third parties under the rules that are put in place by the Internal Revenue Service (IRS). It is a common practice by tech companies to use third-party valuations, as they provide a more accurate and reliable estimation. The 409A price change is also seen as a way to motivate employees, as it helps them better understand their stock options.

The valuation cut for Stripe comes as the fintech industry is yet to recover from the underlying strain in the sector across the board. The pandemic has made it difficult for tech companies to raise funds, making it hard for them to maintain their current valuations.

It remains to be seen how the next few months will pan out for Stripe, and whether the company will be able to turn things around. For now, the valuation cut is certainly a sign that the company is feeling the strain of the current market outlook.


TSMC Posts 78% Surge in Net Profit, Posts Record Quarter

• TSMC reported a 78% surge in net profit during 2022 Q4 due to solid sales of advanced chips
• During the December quarter, the company noted that its net profit moved from T$166.2 billion to T$295.9 billion
• TSMC reported that its revenue in 2022 Q4 rose 26.7% YoY to $19.93 billion

Taiwan Semiconductor Manufacturing Company (TSMC), one of the world’s top advanced chip manufacturers, has posted another quarterly record and a 78% surge in net profit during the fourth quarter of 2022. This surge was due to the solid sales of advanced chips, helping the semiconductor company to evade the industry-wide downtown that affected other manufacturers.

In its December quarter report, TSMC noted that its net profit rose from T$166.2 billion in the previous year to T$295.9 billion, surpassing the average estimate by analysts of T$289.44 billion. In addition to the increase in net profit, the company’s revenue in the fourth quarter of 2022 rose 26.7% year-on-year to $19.93 billion, though it fell 1.5% from the third quarter. The company projected that its year-on-year revenue would come between $19.9 billion and $20.7 billion.

The semiconductor company also reported a 52% operating margin and a 62.2% gross margin, while its net profit margin was 47.3%. After losing 27.1% in its share price in 2020, TSMC’s share price rebounded and is currently up 88.4% since the start of 2021.

In order to meet rising demand for microprocessors and graphics chips, TSMC has announced plans to expand its production capacity and build a new plant in Arizona, USA. The new plant is expected to be operational by 2024 and will help reduce the company’s reliance on its production facilities in Asia.

Overall, despite the industry-wide downturn, TSMC’s fourth quarter earnings are a testament to the company’s dominance in the chip manufacturing industry and its ability to remain resilient. With its robust financial performance and new initiatives, the company is poised to continue its growth in the future.