San Francisco-based e-commerce startup Bolt is moving into cryptocurrencies and nonfungible tokens (NFTs) by acquiring fiat-to-crypto and payment infrastructure firm Wyre. According to a joint announcement on Thursday, Bolt has reachedย a definitive agreement to acquire Wyre, aiming to close the deal later in 2022. According to a report by The Wall Street Journal, the acquisition cost Bolt $1.5 billion. Bolt did not directly confirm or deny the size of the deal to Cointelegraph. Bolt and Wyre are now planning to work together to create new commerce solutions for the mainstream,…
Day: April 7, 2022
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NFTs hot topic of discussion among musicians and industry experts
The billion-dollar music industry has shown recent interest in nonfungible tokens (NFTs) as musicians everywhere are beginning to understand the power of moving away from centralized business models.ย This concept is currently being demonstrated by early innovators like the popular rapper Snoop Dogg, who recently acquired Death Row Records with plans to transform the company into the first NFT recording label in the Metaverse. Country music icon Dolly Parton also recently launched her first NFT collection dubbed โDollyverse,โ which consists of tokenized artwork and music as part of a promo…
Hashed Leads $6.5M Round for LOVOโs AI-Backed Voice NFTs
Cho, the LOVO CEO, said he views voice NFTs as an in-game item, similar to how characters can change the clothing of their avatar now. While voice changers have existed in gaming circles for years, LOVO offers a more human-sounding, unique alternative. Source
OVR Announces Partnership With First Blockchain-Independent NFT Platform, NFTrade
OVR has announced a new partnership with NFT platform NFTtrade. With this new partnership, OVR plans to unlock a world of possibilities for its users in a new way. It will bring the OVRLand NFTs closer to users by allowing them to buy, sell, and P2P trade OVRLand on multiple blockchains. The NFT space is one of the fastest-growing developments of the crypto industry and with good reason. There are currently many numerous platforms on which artists and collectors alike can carry out their activities, each with its own unique…
Itโs Tax Time Again. Do We Really Know What That Means for Crypto?
โIt carries huge consequences for anyone engaging in mining or staking activities,โ Dollar said. โIf the IRS position is that itโs all taxable income at the time of creation, youโre currently taxed on any token rewards as they are earned before you dispose of them. Proponents of crypto take issue with that, even if you donโt buy the taxpayer-created property argument, a lot of these tokens are functioning in an inflationary environment where in staking thereโs dilution when people create tokens, itโs more akin to a stock split โ the…
Blockchain Security Firm CertiK Confirms $88M Raise at $2B Valuation
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…
Hollywood Has Future in Blockchain, NFTs Says Outgoing Warner Media CEO โ Blockchain Bitcoin News
Jason Kilar, the outgoing CEO of Warner Media, has touted blockchain as a technology that could transform the entertainment industry. He also said the tech could bring about new forms of financing. Transforming the Entertainment Industry The outgoing CEO of Warner Media, Jason Kilar, has said the future of Hollywood is in the blockchain, a technology he sees transforming the entertainment industry. According to Kilar, this is especially true now, in an era where the process of buying digital collectibles has become much easier. As per a Reuters report, Kilar…
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Community Gaming Raises $16M in SoftBank-Led Round to Expand Crypto Esports
Community Gaming is a platform that lets gamers create their own esports tournaments and gaming competitions for any game they like. Web 3 is baked into the equation through blockchain-based sign-ups and instant payments. Earlier this year, the Community Gaming platform reached 100,000 unique registered users, the company said. Source