Month: April 2022

HBAR Foundation Commits $250M to Drawing Metaverse Apps to Hedera

CryptoX – Cryptocurrency Analysis and News Portal The metaverse fund targets business-to-consumer and business-to-business-to-consumer projects that Hedera hopes will onboard users into Web 3 and its ecosystem, with a focus on “gaming and virtual worlds, consumer brands and collectibles, sports and fan engagement and enterprise metaverse,” according to a press release. Source The post HBAR Foundation Commits $250M to Drawing Metaverse Apps to Hedera appeared first on CryptoX. CryptoX Portal

UFC to pay out fighter bonuses in Bitcoin for its upcoming PPV events

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Ultimate Fighting Championship (UFC), the popular mixed martial arts organization, will be paying out Fan bonuses to its fighters in Bitcoin (BTC). The fan bonus will be paid out to the top-three fighters of the pay-per-view event in association with its official cryptocurrency platform partner Crypto.com. There will be a total of three Bitcoin fan bonuses of the night ranging from $10,000 to $30,000. Fans from around the globe can vote for the BTC bonuses of the night on the official Crypto.com website on the day of the event. The…

Bolt to enable Bitcoin and NFT access via Wyre acquisition

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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 reached 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,…

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NFTs hot topic of discussion among musicians and industry experts

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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.  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 “Dollyverse,” which consists of tokenized artwork and music as part of a promo…

OVR Announces Partnership With First Blockchain-Independent NFT Platform, NFTrade

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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…

It’s Tax Time Again. Do We Really Know What That Means for Crypto?

“It carries huge consequences for anyone engaging in mining or staking activities,” Dollar said. “If the IRS position is that it’s all taxable income at the time of creation, you’re 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 don’t buy the taxpayer-created property argument, a lot of these tokens are functioning in an inflationary environment where in staking there’s dilution when people create tokens, it’s more akin to a stock split – 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 – Blockchain Bitcoin News

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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…