This Week in Crypto 1/16/23

This Week in Crypto 1/16/23

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Welcome to This Week in Crypto, where we cover the top trending headlines in the cryptocurrency industry. The world of crypto news moves fast, and we’re here to bring it to you for your weekly digest. Enjoy this week’s top stories!

Amazon Web Services Partners with Avalanche to Integrate Blockchain into Cloud Computing
Amazon’s cloud computing subsidiary Amazon Web Services is partnering with Ava Labs to push wider adoption of blockchain technology on enterprise, governmental, and institutional levels. The AWS marketplace now supports Avalanche’s infrastructure and decentralized application ecosystem through one-click node deployment, making custom subnets easier than ever to run. Another critical tool is the ability to run nodes in AWS GovCloud for FedRAMP compliance, which is crucial if applied in a government setting. Amazon Web Services has partnered with a few other blockchain networks before, so it’s encouraging to see continued adoption even though crypto markets remain volatile.

MasterCard Launches Polygon-Powered Emerging Artist Accelerator Program
Mastercard is partnering with Polygon to launch its Artist Accelerator program, in which five emerging artists are chosen to use Web3 tools to cultivate their digital community. The chosen artists will have access to creating exclusive concerts and music releases, as well as minting NFTs for multiple applications. Ryan Watt, CEO of Polygon Studios, says that “Web3 has the potential to empower a new type of artist that can grow a fanbase, make a living, and introduce novel mediums for self-expression and connection on their own terms”. The end of the Artist Accelerator program will end with a video livestream showcasing the artists who participated. Music is a sector that has particularly taken to Web3 very fast, using blockchain technology and NFTs to create tighter communities around artists. With programs like the Artist Accelerator, we can only hope to see more people adopt crypto globally.

FTX Name to be Removed from Miami Heat Arena
A federal bankruptcy court has terminated the naming rights deal between FTX and Miami-Dade county, allowing the FTX branding to finally be taken off the arena, months after the exchange filed for bankruptcy. The previously 19-year, $135 million deal was made in 2021 and put FTX branding all throughout the stadium, in places such as the roof, basketball court, entrance, staff shirts, and more. This news comes shortly after FTX reported that they have recovered over $5 billion in assets as part of its bankruptcy proceedings.

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