Meta set to begin testing NFTs on Instagram Stories with Spark AR

Instagram’s parent company, Meta, announced that it will begin testing NFTs on Instagram Stories using its augmented reality platform Spark AR. CEO Mark Zuckerberg said “We’re expanding our test so more creators around the world can display their NFTs on Instagram.”

US lawmaker lays out case for a digital dollar

Connecticut House of Representatives member Jim Himes urged Congress to begin exploring the rollout of a digital dollar issued by the Federal Reserve to prevent the government from falling behind in innovations in financial technology. According to the U.S. lawmaker, a CBDC “should not be thought of as replacing legacy payment systems and currencies but as an additional alternative for consumers and businesses.”

Institutions are exploring the space — KPMG Canada crypto team

Big Four Klynveld Peat Marwick Goerdeler, or KPMG, may have a role to play in institutions entering the crypto space. Kareem Sadek and Kunal Bhasin of KPMG Canada’s crypto assets and blockchain services team said the team had seen “a lot of momentum” around the tokenization of assets but was also considering the potential growth of NFTs and the Metaverse.

dYdX moves to Cosmos-based blockchain for v4 to optimize decentralization and trading flow

Crypto derivatives platform dYdX, which is currently built on Ethereum layer 2, announced that it would be moving to a standalone blockchain based on the Cosmos SDK and Tendermint proof-of-stake consensus for its v4 update.

Shopify unveils tokengated commerce as part of new connect-to-consumer experience

An e-commerce platform for online stores and retail point-of-sale systems Shopify, will allow merchants to connect with fans and drive sales by creating exclusive merchandise for token holders. The initiative, dubbed “tokengate,” is available in early-access beta mode. The feature serves as a gateway between NFT communities and consumer brands on the platform.