Ethereum has launched its Kintsugi testnet to the public. The testnet, named afterr the Japanese art of mending broken pottery with gold, is one of the final ones ahead of the launch of Ethereum 2.0, which will convert the network to a Proof-of-Stake consensus algorithm.

Cryptocurrency merger and acquisitions transactions saw a volume of approximately $6.1 billion this year, which is a record high for the sector after 197 acquisitions were made in 2021.

Cryptocurrency derivatives trading platform BitMEX is set to launch its own toke in an airdrop to both existing and new users. In an announcement, the firm said its upcoming BMEX token will be airdropped by February 2022 to its customers’ exchange wallets.

In today’s NFT segment we are exploring the world of Dynamic NFTs in partnership with NFT data and discovery platform Masterpiece. A Dynamic NFT is an NFT that changes over time in either a random or predetermined way - the associated image or file is also usually adjusted as a result.

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Top stories in the Crypto Roundup today:

• Ethereum 2.0 Testnet Kintsugi Goes Live
• Crypto Industry M&A Volume Surged 131% This Year
• BitMEX to Launch and Airdrop Native token BMEX
• NFT Spotlight: Dynamic NFTs
• Sponsored: Crypto.com - The World’s Fastest Growing Crypto App

Ethereum 2.0 Testnet Kintsugi Goes Live

Ethereum has launched its Kintsugi testnet to the public. The testnet, named after the Japanese art of mending broken pottery with gold, is one of the final ones ahead of the launch of Ethereum 2.0, which will convert the network to a Proof-of-Stake consensus algorithm.

Testnets run atop and mimic the activity of the core blockchain, the mainnet, without actually affecting it. They allow developers and the community in general to adopt and test applications and features in a controlled setting.

Ethereum developer Tim Beiko said in an announcement:

“Although client development and UX [user experience] continue to be refined, we encourage the community to start using Kintsugi to familiarize themselves with Ethereum in a post-merge context.”

Kintsugi is a testnet that allows anyone to experiment with Ethereum in the exact manner the network would operate after the change. Four devnets were launched in the past year in the road toward Ethereum 2.0 after the Phase 0 launch of the Beacon Chain, which already stores billions in value.

Crypto Industry M&A Volume Surged 131% This Year

Cryptocurrency mergers and acquisitions transactions saw a volume of approximately $6.1 billion this year, which data shows is a record high for the sector after 197 acquisitions were made in 2021.

The figures represent a growth of 131% compared to last year, which saw around 85 M&A transactions. The surge in deal-making, The Block explains, was driven by crypto companies acquiring rivals that offer services that expand their offerings.

As examples, the firm cited Coinbase acquiring Bison Trails for an undisclosed amount to expand into blockchain infrastructure services, and Galaxy acquiring financial services provider BitGo in a $1 billion-plus transaction. Mastercard has this year also announced its acquisition of crypto sleuthing company CipherTrace.

BitMEX to Launch and Airdrop Native token BMEX

Cryptocurrency derivatives trading platform BitMEX is set to launch its own toke in an airdrop to both existing and new users. In an announcement, the firm said its upcoming BMEX token will be airdropped by February 2022 to its customers’ exchange wallets.

The first 50,000 users with completed KYC may register to get 5 BMEX and 10 USDT, while existing traders are set to get BMEX tokens based on their trading activity while being capped at 50,000 BMEX per month per user.

BMEX tokens have a maximum supply of 450 million and will be minted at once and vested over a period of up to 5 years. BitMEX said the “large majority of BMEX will be spent to reward users and grow the BitMEX ecosystem.”

A litepaper for the cryptocurrency will be issued in January 2022 detailing benefits for token holders. BitMEX is set to buy and burn BMEX every quarter, similar to Binance’s burn of its BNB tokens.

NFT Spotlight: Dynamic NFTs

A Dynamic NFT is an NFT that changes over time in either a random or predetermined way - the associated image or file is also usually adjusted as a result. This different type of NFT creates new and exciting ways in which we can interact with, and display dynamic assets - this allows you to create a piece of art that is updated in real-time when data changes.

For example, you could create an NFT of a sportsman that updates whenever they score a new point a match, or you could create an NFT that represents a piece of artwork that changes depending on the time of year - creating an extra level of utility for NFTs.

Contemporary artist, Daniel Arsham, started experimenting with Dynamic NFTs by creating digital sculptures that slowly degrade and reform over the course of a year. The collection is titled Eroding and Reforming Bust of Rome (One Year) and features 672 editions. Since launching, the collection has grown to a value of $4,389,758 with over 570 unique holders.

Eroding and Reforming Venus of Arles (72.6 Years) is another collection created by Daniel Arsham which evolves each year as we enter New Years Day. There are 73 total states, which will restart as we enter the year 2094. The NFT is pictured below.

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