Today in Crypto: Trezor Launches New Wallet, Seed Phrase Store & Limited-edition Trezor Safe 3, COZ and AxLabs’ ITEM Systems Focuses on Non-fungible Items (NFIs)

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Sead Fadilpašić

Journalist

Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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Last updated:

October 12, 2023 09:02 EDT

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Wallet news

• Crypto hardware wallet company Trezor is launching two new products today: Trezor Safe (a new hardware wallet) and Trezor Keep Metal (a physical seed phrase store). The Trezor Safe 3 retails for $79 and is available in four colours. Trezor Keep Metal can be used for both 12-word and 24-word standard backups, available for $99. It is also suitable for Shamir backup. The Trezor Keep Metal catering for 3 x 20-word Shamir backup sells for $249. Also, to celebrate the 10-year anniversary since Trezor introduced the bitcoin hardware wallet, the company is releasing a limited-edition run of a Bitcoin-only Trezor Safe 3 as part of the range. It solely runs Bitcoin-only firmware and is available in one colour: bitcoin orange. Only 2,013 of the devices will be available at a retail price of $79. Trezor will donate €21 from each sale to support the Trezor Academy, a Bitcoin education initiative.

Web3 news

• Web3 software development companies COZ and AxLabs joined forces to create ITEM Systems – a new brand delivering solutions that bridge the physical and digital worlds, they said. Per the press release, ITEM Systems will focus exclusively on developing solutions built on non-fungible item (NFI) technology with potential applications spanning industries, including arts, entertainment, luxury goods, gaming, brand activations, financial transactions, verifications, and more. An NFI consists of a physical asset that’s cryptographically bound to a ‘digital twin’, allowing users to verify their identity and sign transactions securely. ITEM Systems aims to accelerate Web3 mass adoption by enabling real-life blockchain applications, the team said, adding that they have already launched use cases to showcase the potential of NFIs.

Stablecoin news

• A group of Japanese firms will issue a digital currency by July 2024 for the transaction and settlement of clean energy certificates, Reuters reported, citing crypto exchange DeCurret. The yen-based coin, called ‘DCJPY’, will be backed by bank deposits and will link with bank accounts to enable seamless settlement of transactions. GMO Aozora Net Bank will issue DCJPY, which will operate on a network launched by DeCurret. It is intended to be used by the telecommunication firm Internet Initiative Japan for the settlement of clean energy certificates. The companies plan to make these tradable using blockchain technology, it said.

Mining news

• Bitcoin miner CleanSpark purchased 4.4 exahashes per second (EH/s) of the recently announced Antminer S21 bitcoin mining machines. According to the press release, the S21 is nearly 20% more efficient than the XP, previously the most efficient bitcoin miner available in the market. The delivery of the machines is set to begin in January 2024. They were purchased with favorable terms, the company said, including 20% seller-based financing of the total purchase price ($12.35 million or $2.80/TH), which is not due for 365 days after the machines are delivered. The new machine is expected to continue to reduce power consumption per bitcoin mined, thereby improving the company’s margins, it said.

Exchange news

• Bitget listed action role-playing game (RPG) Big Time in its Innovation and GameFi Zone. According to the press release, deposits and Withdrawals for BIGTIME are enabled, and users can trade Big Time tokens with USDT as the spot trading pair BIGTIME/USDT is now live. Bitget also launched a Deposit Rebate campaign for Big Time tokens, the exchange said, adding that users can grab a share of $10,000 worth of BIGTIME. 
• Binance announced that its product Binance Feed has been rebranded to Binance Square. To mark the occasion, all users can complete specific tasks during the Activity Period and qualify for a share of 10,000 USDT in token vouchers, it said. “The decision to rebrand follows the platform’s evolution from a simple content aggregator to a vibrant social platform, with user-generated content being a key addition,” as registered Binance users across most markets are able to create their own content and actively participate in community discussions on the platform, the exchange stated. Binance Square has also recently introduced monetization features for both users and creators, including a tipping option.