Month: January 2022

Visa Partners With ConsenSys to Help Bridge CBDCs With Traditional Finance

Payments giant Visa has teamed up with Ethereum scaling firm ConsenSys to help central bank digital currency (CBDC) networks bridge the gap with traditional financial institutions. Customers will eventually be able to use their CBDC-linked Visa card or digital wallet anywhere that Visa is accepted globally, Catherine Gu, Visa’s head of CBDC, said in a blog post Q&A with ConsenSys. “If successful, CBDC could expand access to financial services and make government disbursements more efficient, targeted and secure – that’s an attractive proposition for policy makers,” Gu said. Visa’s CBDC…

LÜM to launch ‘Access Pass’ NFTs for 25 globally known musicians

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U.S.-based music platform LÜM is set to announce 25 partnerships with globally known musicians as part of a re-launch involving NBA Top Shot’s Dapper Labs later this quarter. LÜM was founded in 2018 and built up a user base of more than 200,000 users with a platform that provided services such as social media, music streaming and micro-tipping for its partnered musicians and fans. The firm has raised around $4.4 million worth of funding since 2018 according to data from Crunchbase, and partnered with popular R&B singer-songwriter Ne-Yo back in…

India Seizes Assets in $162M Morris Coin Cryptocurrency Investment Scheme – Regulation Bitcoin News

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Indian Enforcement Directorate has seized assets worth approximately $5 million in connection with an alleged cryptocurrency scam involving Morris coin that has duped investors out of $162 million. The crime proceeds were used to buy cryptocurrencies. India Authorities Seize Assets in Alleged Crypto Scam Case India’s Enforcement Directorate (ED), a specialized financial investigation agency under the Department of Revenue, Ministry of Finance, has seized assets valued at 36.72 crore rupees ($5 million) in connection with a cryptocurrency scam. The ED began investigating the scheme after a first information report (FIR)…

China-Backed BSN to release infrastructure this month to support NFTs: Report

China-backed Blockchain Services Network will introduce infrastructure this month to support NFTs that have no link to cryptocurrencies, which are banned in China, the South China Morning Post reported on Thursday. He Yifan, chief executive of Red Date Technology, which provides technical support to BSN, told the SCMP that non-fungible tokens “have no legal issue in China” as long as they have nothing to do with cryptocurrencies. The infrastructure, BSN-Distributed Digital Certificate (BSN-DDC), provides application programming interfaces for businesses or individuals, enabling them to build their own user portals or…

Solana could become the ‘Visa of crypto’: Bank of America

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Bank of America digital asset strategist Alkesh Shah has predicted that Ethereum competitor Solana could become the “Visa of the digital asset ecosystem” in a Jan 11 research note. The Solana network launched in 2020, and has since grown into the fifth largest cryptocurrency with a market capitalization of $47 billion. An order of magnitude faster than Ethereum, it has been used to settle over 50 billion transactions and mint over 5.7 million non-fungible tokens (NFTs). Critics however argue its speed comes at the cost of decentralization and reliability but…

Bribe Looks to Usher In DAO 2.0 With Voter Extractable Value

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Community governance is a concept that hearkens back to the early days of cryptocurrency, when intrepid cypherpunks pooled resources, shared ideas, and tinkered with one another’s proposals. With everyone pulling in the same direction, but each bringing his own talents and theories to the table, the idea was that those most committed to a project were the ones best placed to influence its evolution. This principle eventually gave rise to decentralised autonomous organisations – or DAOs for short. Made up of developers, engineers, coders and regular community members, these open-source…

Gap Launches Gamified Collectible NFT Experience to Activate Community, Creativity and Self-Expression – Blockchain News, Opinion, TV and Jobs

Today, Gap announced the global launch of its first collection of non-fungible tokens (NFTs) to bring its brand and iconic product to new and existing customers in a rapidly evolving digital ecosystem. For this launch, the brand is introducing a gamified digital experience celebrating creatives and giving customers the unique opportunity to own a limited edition, collectible Gap hoodie. For this release, Gap is collaborating with Brandon Sines, the artist behind Frank Ape, for a limited edition drop. Community, creativity, and self-expression are core values in Sines’ art, which embodies…

Wikipedia editors vote against classifying NFTs as art

A group of editors on Wikipedia, the free user generated encyclopedia, have voted against classifying NFTs as a form of art and have come to a consensus to shelve the issue until a later date. A survey and debate started on the platform at the end of December revolving around the most expensive art sales by living artists and whether NFT art sales should be deemed as “art sales” or “NFT sales.” “Wikipedia really can’t be in the business of deciding what counts as art or not, which is why…

Metaxy Stirs Up Crypto Community with Its IDO on Top 4 Launchpads

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Metaxy, a Free-to-Play and Metaverse NFT game, will conduct its IDO on four launchpads: GameStation, KoiStarter, BinStarter, and DAOLaunch on January 17, 18 & 19, 2022. After a fruitful year of explosive growth and success of NFT games like Axie Infinity or Gods Unchained, it was only a matter of time before blockchain gaming exploded. With tonnes of NFT games in development, the crypto and blockchain community is eagerly awaiting their release, and they certainly have good reasons to do so. One game that has quickly risen and is set…

Interest wanes in Bitcoin futures ETF’s as contracts fall below 5K

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After a stellar launch, interest has waned in the ProShares Bitcoin Strategy Exchange Traded Fund (BITO) which now has the lowest amount of CME contracts since Nov. 2021. The Bitcoin futures exchange traded fund (ETF) holds a total of 4,904 Chicago Mercantile Exchange (CME) futures contracts, according to the fund’s latest update from Jan. 11. A Bitcoin futures ETF allows investors to speculate on the future price of Bitcoin (BTC) without having to hold the asset themselves. BITO’s assets under management (AUM) figure has retraced to $1.16 billion from a…