Shapella Upgrade to Have limited Impact on ETH’s Selling Pressure

Japan’s Largest Airline Opens NFT MarketplaceAll Nippon Airways (ANA), Japan’s largest airline, has ventured into the world of Web3 by launching its own non-fungible token (NFT) marketplace through its subsidiary, ANA Neo.Photo by Marcus Ng on UnsplashANA GranWhale NFT marketplaceThe newly introduced platform, called the “ANA GranWhale NFT Marketplace,” will showcase an exclusive digital art collection crafted by renowned aerial photographer Luke Ozawa.The NFT marketplace commenced on Tuesday with the conversion of Ozawa’s first digital photograph into an NFT. One of these unique pieces will be auctioned alongside the positive film, which served as the source for the photo’s development. The starting price for this item is set at 100,000 yen, offering collectors the opportunity to acquire an NFT paired with a tangible artifact.Following this initial collection, ANA plans to release its second batch of NFTs on June 7. This collection will feature the NFT rendition of the first Boeing 787 operated by ANA, presented in the form of a 3D model airplane. The offerings include a total of 1,574 items, comprising two types of 787 models, with each item priced at 7,870 yen.ANA, a company with revenues of $12.2 billion in its previous fiscal year, aims to expand its NFT product line in the future. The airline envisions leveraging NFTs to enhance the customer experience and add value to its services.Airline industry NFT PotentialThe development of ANA Neo’s GranWhale initiative began in August of last year. The project focuses on creating a virtual travel platform that utilizes various technologies, including virtual reality (VR), to recreate destinations and cultures from around the world. These recreations take the form of metaverse parks, allowing users to explore and immerse themselves in virtual travel experiences.ANA Neo President Mitsuo Tomita emphasized the significance of this venture, stating that the ANA GranWhale logo symbolizes the fusion of the virtual and the real, signifying the airline’s journey into the future, where Web3 and metaverse travel will become increasingly prevalent. “Through this initiative, we aim to unlock the potential of NFTs in the aviation industry, bringing together the digital and physical realms to create unique and memorable experiences that unite the world in wonder,” Tomita stated.Club Toki NFTsANA is not the first Japanese airline to involve itself with the NFT space. Earlier this month, regional Japanese airline Toki Air announced the launch of Club Toki, a fan community centered around NFTs. The initiative claims that community members join by purchasing NFTs, and as NFT holders, they receive further club benefits. The NFTs can be purchased by credit card or payment in ETH, with the buyer needing a MetaMask wallet in order to receive the NFT.In March, Argentinian low-cost airline Flybondi integrated Web3 into its ticketing process by issuing tickets as NFTs in a partnership with NFT ticketing firm, TravelX. With this initiative, Flybondi became the first airline to offer flight tickets as NFTs.With its entry into the NFT marketplace, ANA joins the growing number of companies embracing Web3 technologies to offer unique digital assets and experiences. As the airline continues to develop its GranWhale platform, it seeks to cater to the evolving demands of the market and establish a presence at the intersection of aviation and the metaverse.

Coinone to Launch New Ethereum Reward ServiceSouth Korean crypto exchange Coinone is set to launch a new product named “Ethereum (ETH) Daily” on Coinone Plus, a service that allows users to receive rewards by delegating their virtual asset holdings to the blockchain network.Photo by Shubham Dhage on UnsplashBenefits of Coinone PlusCoinone Plus is divided into three products — Staking, Daily, and ETH 2.0 Staking. Of these, the Daily product distributes daily rewards to individual users who hold a certain cryptocurrency and agree to participate in the service. Unlike the two staking products, it is characterized by the freedom to trade assets and deposit or withdraw them without any of the restrictions imposed by a given network.The upcoming ETH Daily, which will launch on October 4, rewards Coinone users who hold Ethereum and have completed identity verification. Upon agreeing to the relevant service terms and conditions, users will become eligible for snapshots starting the next day, and rewards will be distributed every day starting from the second day. Existing Daily service participants who hold Ethereum will automatically be counted as participants without any additional steps required.Unlocking differentiated investment opportunities“By utilizing Ethereum, which is one of the most popular cryptocurrencies alongside Bitcoin, we decided to launch the ETH Daily product as a means to provide more diverse investment experiences,” explained Coinone CEO Cha Myeong-hoon. “Just by simply holding Ethereum, users can accumulate daily rewards and take part in investments that allow participation in the blockchain ecosystem. We hope our users will take advantage of this opportunity.”

China Makes History by Settling Cross-Border Oil Deal with Digital YuanThe digital yuan, China’s central bank digital currency (CBDC), also known as e-CNY, was used for the first time to settle a significant oil transaction.Chinese state-owned media outlet China Daily reported on Saturday that the Shanghai Petroleum and Natural Gas Exchange (SHPGX) revealed on October 20 that PetroChina International, a subsidiary of the China National Petroleum Corporation (CNPC), successfully acquired 1 million barrels of crude.Photo by engin akyurt on UnsplashAdvancing e-CNY use internationallyThis transaction is a response to the call by the Shanghai Municipal Party Committee and Municipal Government to incorporate the digital yuan into international trade, marking a noteworthy stride towards the broader adoption of the digital currency.The exact seller and price details for the deal were not disclosed. This historic crude oil transaction signals not only the increasing use of the digital yuan in global trade but also a noteworthy step in the movement towards de-dollarization. Reports from China Daily suggest that the use of the yuan in cross-border settlements experienced a remarkable 35% year-on-year increase in the first three quarters of 2023, reaching a total of $1.39 trillion.This milestone isn’t the first time the yuan has been utilized in the energy sector. In March, the yuan was first used in a liquefied natural gas (LNG) purchase on the SHPGX, as French TotalEnergies reached an agreement to sell LNG to the China National Offshore Oil Corporation (CNOOC). Recently, another LNG deal was executed between CNOOC and French Engie, although these transactions did not involve the digital yuan.In parallel developments, First Abu Dhabi Bank announced on October 19 that it had established an agreement on digital currency with the Bank of China during the third Belt and Road Forum for International Cooperation. China and the United Arab Emirates, including Abu Dhabi, are participants in the mBridge platform designed to facilitate cross-border transactions using CBDCs. The mBridge platform is expected to launch as a minimum viable product in the coming year.Furthering mass adoptionThe Chinese authorities are taking several distinct approaches in furthering mass adoption of the e-CNY. The Chinese subsidiaries of both Singapore’s DBS Bank and France’s BNP Paribas have recently partnered with the People’s Bank of China to enable their international clients operating in China to use the digital yuan.A long list of initiatives have been taken within mainland China by regional governing authorities to further the use of the CBDC. To further enable mass adoption at home, a new offline SIM card-based digital yuan wallet was developed and launched earlier this year.The successful use of the digital yuan in settling this oil deal represents a significant step forward in the internationalization of China’s currency and the growing influence of CBDCs on the global economic stage. As the world watches these developments unfold, the digital yuan continues to make strides towards becoming a crucial means of exchange in international trade and finance.