Welcome to the OpenSea Digest, let’s recap the week’s major news in NFTs and Web3.
Coinbase acquires the Opyn team, with Base transforming into an integrated on-chain application
On July 11, Coinbase announced the acquisition of the leadership team of Opyn Markets, a cryptocurrency startup focused on building advanced decentralized finance (DeFi) tools for Perps trading.
The announcement comes ahead of a major update on Coinbase's Ethereum Layer 2 (L2) network Base, which is transitioning from a blockchain to a complete product ecosystem.
According to a live broadcast (New Day) lasting an hour, Base now includes a new social app (formerly known as Coinbase Wallet), instant payments using USDC via Base Pay, and a universal on-chain identity called Base Account.
With these updates, Coinbase and Base seem eager to integrate buying, selling, payments, social media, and app discovery into a user-owned platform.
To celebrate this news and the start of the Base annual Onchain Summer event, Base has partnered with Erewhon to offer free 'based' juice at select stores in Los Angeles on July 17.
Congress advances stablecoin rules and cryptocurrency regulation
This is 'Crypto Week' in the U.S. Congress, where lawmakers are weighing three major bills that could become the first regulatory framework for digital currencies in the U.S. and bring long-awaited clarity to the web3 space.
The (GENIUS Act) passed in the House on July 17 establishes clear rules for stablecoins, defining who can issue stablecoins, what reserves they need, and how stablecoins will be regulated.
Meanwhile, the (CLARITY Act) aims to clarify which federal agencies have jurisdiction over different parts of the cryptocurrency industry, defining what constitutes a digital commodity and explaining how to determine whether a blockchain project is decentralized.
Finally, the third bill expected to be submitted for House consideration this week is the (Anti-CBDC Surveillance State Act), which would prohibit the Federal Reserve from creating a central bank digital currency (CBDC) and prevent the Fed Board from using any form of CBDC to conduct monetary policy.
Bitpanda partners with Paris Saint-Germain and AC Milan to launch new VSN token
Vienna-based cryptocurrency investment platform Bitpanda will launch its new token Vision (VSN) on July 16, as part of its expansion into Web3, with expectations that the token will provide users with a set of new tools and features based on blockchain.
According to the company’s press release, Paris Saint-Germain's innovation department PSG Labs will act as a strategic partner to promote VSN through fan engagement and digital marketing activities (such as co-branded NFTs, online challenges, and virtual experiences tied to match day content). Bitpanda has also partnered with Italian football club AC Milan to expand the token's reach through its global fan base.
A press release states that Vision is key to Bitpanda's Web3 initiative, providing features like staking rewards, voting rights, and loyalty benefits. Vice CEO Lukas Enzersdorfer-Konrad said the goal is to connect Bitpanda's regulated platform with audiences that have global influence over major sports brands.
PUMP token launched on Solana
Pump.fun is a Solana-based platform that allows users to create and trade meme coins, having launched its native token PUMP, which is now publicly traded.
On Pump.fun, anyone can create tokens under the same terms, with pricing based on a curve that adjusts as people buy and sell. The team stated that they plan to use PUMP to support future tools that connect user-created tokens with social media features.
Snoop Dogg sold nearly 1 million Telegram collectibles in 30 minutes
Last week, Snoop Dogg's new digital gift series on Telegram sold out in just 30 minutes, with nearly 1 million purchases generating $12 million in revenue.
The rapper is collaborating with the messaging app to help launch its new collectible gifting feature, which allows users to send animated items in chat and upgrade them to unique transferable artworks.
The series features visuals related to Snoop's iconic style, and three weeks later, Telegram will mint these gifts on the TON blockchain, allowing users to buy, sell, or collect them within the app.
ZED Picks is now live on Android, adding staking functionality to the horse racing ecosystem
The free fantasy racing game (ZED Picks), co-created by web3 studio and ZED RUN creators VHS Labs, is now available to Android users in most states of the U.S., allowing players to pick two to four virtual racehorses in any ZED Champions event using the in-game currency ZCoin.
At the same time, ZED Champions introduced a staking service that allows players to support any active horse using ZED or reZED tokens and earn a portion of its balance when the horse is retired.
These features collectively expand the ways fans can engage with the ZED ecosystem without owning horses.
Switzerland will release publicly trained AI models on supercomputers
Researchers from EPFL, ETH Zurich, and CSCS plan to release a large language model (LLM) by the end of summer 2025, stating that the model is entirely developed on public infrastructure.
The model is trained on the Alps supercomputer at CSCS and is marketed as a fully open-source model supporting over 1000 languages, designed for wide application in research, education, and commercial fields. It will be licensed under Apache 2.0, allowing for free reuse.
The project is part of Switzerland's AI initiative, a nationwide program led by EPFL and ETH Zurich, aimed at using public infrastructure to fund open-source AI and provide transparent, high-performance alternatives to commercial AI models.
Note: Mention of tokens is for informational purposes only and should not be considered financial or investment advice.
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