In this recap of the crypto world, we will explore the events and news that had the most significant impact in the past week of June 19. Our focus will be on the following developments:
- Ava Labs Launches AvaGPT
- Yuga Labs Announces the Release of HV-MTL Forge
- Etherscan Introduces “Code Reader”
- Nike Brings .SWOOSH to Fortnite with Airphoria
- BlackRock Sparks a Wave of Bitcoin ETF Filings
Ava Labs Launches AvaGPT
Ava Labs, the pioneering force behind the Avalanche network, has made headlines once again with the introduction of their latest offering, AvaGPT. Joining the ranks of blockchain companies leveraging OpenAI’s ChatGPT technology, AvaGPT aims to swiftly address the general queries of Avalanche users while ensuring continued access to their support team.
Kieran McShane, the Technical Product Manager at Ava Labs, shed light on the motivation behind the development of AvaGPT, stating, “The two things AvaGPT is providing are answering general questions for Avalanche users quickly, while also letting them still access our support team. It was out of an effort to help answer questions quicker and get to the source material immediately.”
As per Ava Labs, one of the key aspects that set AvaGPT apart is that it is trained exclusively on Avalanche documentation. This meticulous approach ensures that the responses provided by AvaGPT are not only accurate but also tailored precisely to the Avalanche ecosystem. McShane emphasized this by stating, “This provides users with another way to learn about our ecosystem and how to build upon it. Simply type in the question you have, and AvaGPT will scour our documentation for answers.”
When a user poses a question, AvaGPT engages in a search process within the documentation, and an animation is displayed to indicate that the bot is actively seeking the information. Once the relevant answers are found, they are promptly presented to the user. Whereas, in cases where additional support is required, users are encouraged to utilize the official support site to directly contact the Ava Labs support team.
Yuga Labs Announces the Release of HV-MTL Forge
Yuga Labs has announced its latest addition to its gaming ecosystem called the HV-MTL Forge. Following the exhilarating Dookey Dash game, HV-MTL Forge is set to launch on June 29, offering players an immersive workshop-building experience centered around the HV-MTL robot NFTs.
Building upon the excitement generated by the Sewer Pass NFTs, which were essential for participating in Dookey Dash, Yuga Labs provided owners with the opportunity to exchange their passes for HV-MTL mech suit NFTs earlier this year.
Now, these HV-MTL NFTs will grant players access to the eagerly anticipated Forge game. In this game, players will be able to customize their own domain, offering them the chance to unleash their creativity and potentially earn additional rewards. As players construct their virtual workshops, they will seek community approval for their craftsmanship, gathering votes that will contribute to a leaderboard system. The top-performing players will unlock special abilities, preparing them for the next evolution in the game.
Expressing his excitement, Yuga Labs co-founder Greg “Garga” Solano took to Twitter to announce the imminent launch of Forge. He tweeted, “Stoked to crack open Forge next week. Bunch more content coming between now and then to prep you for the experience, but like Dookey Dash, it will just make sense once you’ve played for a bit.” In addition to this, Yuga Labs hinted that users can expect to earn various customization features as they progress in the game, teasing them with a video on Twitter.
Etherscan Introduces “Code Reader”
Etherscan, the renowned Ethereum block explorer and analytics platform, has made a significant stride in enhancing the accessibility and understanding of smart contracts with the introduction of its latest tool, called “Code Reader.” Launched on June 19, this innovative tool leverages the power of artificial intelligence to retrieve and interpret the source code of specific contract addresses, thereby providing users with valuable insights into the inner workings of Ethereum contracts.
With Code Reader, users can input a prompt and witness the magic unfold as the tool generates responses utilizing OpenAI’s sophisticated language model. This process enables users to:
- Gain a deeper understanding of contract code
- Obtain comprehensive lists of smart contract functions
- Decipher the interactions between the contract and DApp
Etherscan emphasizes that Code Reader is primarily intended for informational purposes. While the tool provides valuable insights into contract source code, users are encouraged to independently verify the information provided. Etherscan reminds users that Code Reader should not be solely relied upon for evidence or bug bounty submissions, and due diligence is essential in assessing the accuracy and reliability of the tool’s responses.
To utilize Code Reader, users need to connect to OpenAI’s API and have sufficient usage limits. The API serves as the communication bridge between Etherscan’s tool and OpenAI’s language model, enabling the retrieval and interpretation of source code information. It is important to note that, currently Etherscan’s Code Reader does not support conversation threads with the AI chatbot and can only be queried through one-off prompts. Read more on this here.
Nike Brings .SWOOSH to Fortnite with Airphoria
Nike has entered the virtual world of Fortnite through a collaboration with its Web3 community platform, .SWOOSH. This groundbreaking partnership between Nike, Fortnite creator Epic Games, and game builder Beyond Creative brings the potential to reward players with digital sneakers, while also providing Nike’s .SWOOSH platform access to Fortnite’s massive user base, which has seen over 240 million players logging in within the past 30 days alone.
Dubbed “Airphoria,” this collaboration offers Fortnite players a unique opportunity to immerse themselves in a virtual island experience available until June 27. By spending a mere 10 minutes or more on the designated island, players will receive the Air Max 1 ’86 Back Bling cosmetic as an in-game asset within Fortnite, enhancing their virtual appearance.
To maximize the benefits of this unique collaboration, players are encouraged to link their Epic Games and .SWOOSH accounts. By doing so, they gain priority access to a future virtual collection known as .SWOOSH Air Max. Epic Games emphasizes that account linking enables the interoperability of virtual goods, allowing Fortnite skins and Nike achievements to seamlessly integrate.
This move signals a significant step towards integrating NFTs and blockchain technology into the gaming landscape, potentially paving the way for wider adoption of Web3 features within the industry. If this collaboration succeeds in bringing NFTs to Fortnite’s vast player base, we could witness a new era of digital ownership in gaming, where players have verifiable and unique ownership over virtual items. Read more on this here.
BlackRock Sparks a Wave of Bitcoin ETF Filings
On June 15, BlackRock, the world’s largest asset manager, made a significant move by filing an application for a spot Bitcoin exchange-traded fund (ETF). Following BlackRock’s filing, investment management firms wasted no time in submitting their own applications for spot Bitcoin ETFs. These companies are positioning themselves for what could potentially be a game-changer in the Bitcoin industry, striving to offer investors more accessible and regulated avenues to participate in the Bitcoin market.
One such company, New York-based WisdomTree, filed its third application for a spot Bitcoin ETF, seeking to list its “WisdomTree Bitcoin Trust” on the Cboe BZX Exchange under the ticker symbol “BTCW”. In a similar move, Invesco, a global investment manager, “reactivated” its application for a Bitcoin ETF shortly after WisdomTree’s filing. Adding to the competition, Valkyrie Investments resubmitted its Bitcoin ETF application, with the goal of listing its ETF on the Nasdaq under the ticker symbol “BRRR”.
While there may be regulatory hurdles to overcome, the momentum generated by BlackRock’s filing and the subsequent wave of similar applications underscores the growing recognition of Bitcoin’s significance and potential among institutional investors. As the cryptocurrency market continues to evolve, the possibility of a Bitcoin ETF approval looms as a significant milestone that could shape the future of the cryptocurrency landscape. Read more on this here.
