Welcome to This Week in Crypto! In this edition, we dive into Franklin Templeton’s plans to launch a Solana ETF, expanding their successful lineup of cryptocurrency funds. Next, we explore Ferrari’s exciting move to bring cryptocurrency payments to its European customers following a successful rollout in the United States. Finally, we take a nostalgic turn with Atari’s collaboration with Base to bring classic games like Asteroids to the blockchain, offering players a unique NFT-based gaming experience. Stay tuned for all the latest developments in the world of crypto!
Franklin Templeton Potentially Targets Solana for Next Crypto ETF Offering
Franklin Templeton, known for its early adoption of spot Bitcoin ETFs in the U.S., is now eyeing the launch of a Solana-based ETF following the launch of its Ethereum product. On July 23, the company expressed its interest in expanding its cryptocurrency ETF offerings beyond Bitcoin and Ethereum, highlighting Solana’s adoption and utility. This statement coincided with the launch of Franklin Templeton’s second spot cryptocurrency ETF, the Franklin Ethereum ETF, on the Chicago Board Options Exchange’s (CBOE) BZX exchange.
The Franklin Ethereum ETF follows the debut of Franklin Templeton’s spot Bitcoin ETF in January 2024. Patrick O’Connor, Franklin Templeton’s head of global ETFs, noted the company’s commitment to broadening its digital asset ETF lineup. As interest in Solana ETFs grows, spurred by filings from firms like VanEck and 21Shares, industry analysts anticipate that the U.S. Securities and Exchange Commission will make final decisions on these applications by mid-March 2025.
Ferrari to Roll Out Cryptocurrency Payments Across Europe by End of 2024
Italian luxury sports car manufacturer Ferrari is expanding its cryptocurrency payment system to Europe after a successful launch in the United States. Starting from the end of July 2024, European dealers will begin accepting cryptocurrencies, such as Bitcoin, Ether, and USDC, as payment for their cars. This move follows Ferrari’s initial partnership with BitPay in October 2023, which enabled crypto payments in the U.S. and Canada. By the end of 2024, Ferrari aims to expand this payment option to other countries in its international network where crypto transactions are legally accepted.
Ferrari has said that dealers will not need to handle cryptocurrencies directly. Instead, customers’ crypto payments will be converted into local currencies and deposited into the dealers’ bank accounts immediately, mitigating price fluctuations and regulatory compliance. Approximately 60% of Ferrari’s European dealers have already adopted or are in the process of adopting the new payment system.
Atari Launches Onchain Gaming with Asteroids and NFT Access
AtariX, the Web3 arm of Atari, is bringing its iconic games to the blockchain in partnership with Base, Coinbase’s Ethereum layer-2 scaling solution. The initiative kicks off with the classic arcade game Asteroids, a 1979 space shooter where players control a spaceship to destroy asteroids. Through this collaboration, gamers can now mint a non-fungible token (NFT) that serves as an access pass to play the game on the blockchain, compete on a global leaderboard, and vie for prizes such as a $1,000 Atari gift card.
To participate, users need to connect their wallets and mint an NFT access pass, which costs 0.0015 Ether (approximately $5). Each wallet can mint up to 1,000 passes, but owning multiple passes does not affect game scores. This move follows other blockchain gaming initiatives, such as the earlier launch of a Super Nintendo Entertainment System (SNES) emulator on the Bitcoin network by Ninjalerts, enabling classic SNES games to be played on the Bitcoin blockchain.
