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  • The R Roundup: Do You Even Starbucks Without The Pumpkin Spice Latte NFT? ☕️ - Issue #109

The R Roundup: Do You Even Starbucks Without The Pumpkin Spice Latte NFT? ☕️ - Issue #109

Issue #109 : Web 3 News Headlines Of The Week

The R Roundup: Do You Even Starbucks Without The Pumpkin Spice Latte NFT? ☕️ - Issue #109

In a surprising move, Starbucks, the ubiquitous coffee giant, is tapping into the world of non-fungible tokens (NFTs) to celebrate the 20th anniversary of its beloved Pumpkin Spice Latte.

Available exclusively through Starbucks Odyssey, the company's innovative Web3 rewards and loyalty platform, these digital collectibles offer a unique way for enthusiasts to indulge in their passion for the seasonal beverage.

This limited-time offering comprises four distinct Pumpkin Spice Latte-inspired NFT varieties: Spiced, Whipped, Iced, and Steamed, mirroring the diverse range of the physical drinks.

The NFTs, priced at a modest $20 each, will be released in an open edition format, allowing for unlimited minting and sales from October 5 to October 9. Starbucks Odyssey members, the sole eligible buyers, will not only acquire these digital gems but also earn 250 points per NFT, enhancing their loyalty benefits.

Opensea No-Code Hub Advances NFT Minting 🌊

OpenSea is unveiling a groundbreaking "no-code hub."

This innovative platform empowers creators by enabling them to develop and mint their tokens seamlessly, eliminating the need for external assistance or blockchain expertise. In a bid to streamline the NFT creation process, OpenSea has eliminated the need for artists to engage with various platforms, vendors, or services, consolidating all essential functions within a single hub. This comprehensive solution caters to creators' needs by facilitating project management, collection administration, and token deployment, all without the necessity for coding or technical proficiency.

OpenSea's pioneering studio not only replaces the practice of "lazy minting," where assets were generated off-chain before their sale or transfer but also provides users with the flexibility to select from a broad spectrum of compatible blockchains, enhancing accessibility and versatility within the marketplace.

By offering creators an intuitive and user-friendly platform to mint their NFTs, OpenSea is poised to reassert its influence in the NFT arena, fostering a more inclusive and artist-friendly environment.

Optimisms Testnet For Fault Proof System Launched 🔴

OP Labs, the driving force behind the Optimism network, has unveiled a significant stride toward decentralization with the introduction of its modular fault-proof system on the OP Goerli testnet.

This pioneering move, detailed in an October 3 blog post, signifies a crucial step in achieving a more decentralized and efficient Superchain. The new fault-proof system, currently active on the Optimism Goerli network, marks a departure from the centralized sequencers employed in OP Stack-based networks like Optimism and Base, which have long raised concerns about transaction authenticity and security.

What sets OP Labs' innovation apart is its modular approach. Comprising a fault-proof program (FPP), a fault-proof virtual machine (FPVM), and a "dispute game protocol," this system can be customized and implemented separately by each network.

This flexibility not only bolsters security but also promotes diversity within the Optimism Superchain. Interestingly, networks now have the option to employ zero-knowledge proofs (ZK-proofs) as a fraud-proof method, a technique typically associated with zero-knowledge rollups but not Optimistic ones.

OP Labs envisions a future where secure bridging without central fallback becomes a reality, advancing the cause of decentralization. In the realm of blockchain innovation, where diversity and adaptability are paramount, this move is a significant stride toward a more robust and secure ecosystem.

Celsius Customers Get Their Hopium 🌡️

Embattled crypto lender Celsius Network is striving to regain customer trust, aiming to initiate repayments before 2023 concludes.

In a recent hearing seeking court approval for its restructuring plan, Celsius revealed its intentions to start reimbursing clients by year-end. The plan, backed by an impressive $450 million in seed funding for the emerging entity known as "NewCo," was presented by Celsius' legal representative, Christopher Koenig, in New York.

To facilitate repayments, Celsius plans to utilize a substantial portion of its assets, including $2.03 billion in Bitcoin and Ethereum, as well as shares in NewCo.

This strategic move aligns with the support of a consortium named Fahrenheit LLC, entrusted with managing the mining and staking operations of NewCo. The restructuring plan, currently under the scrutiny of Judge Martin Glenn, has encountered challenges from dissenting creditors despite receiving overwhelming support from a majority of account holders.

If approved, Celsius Network's initiative will mark a significant milestone in the crypto industry, resurrecting a failed platform under Chapter 11 bankruptcy. Customers, left in limbo since the company suspended withdrawals following the Terra ecosystem's collapse in June 2022, are eagerly anticipating resolution.

Celsius' proactive approach to repayment reflects a commitment to restoring confidence in the crypto lending sphere, underscoring the industry's resilience and adaptability.

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