Day: April 19, 2023

Here’s what happens to NFTs when you die: Nifty Newsletter, April 12–18

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In this week’s newsletter, read about how Mastercard launched an accelerator program for musicians powered by nonfungible tokens (NFTs), and how online safety groups urged Meta to refrain from allowing minors into its new metaverse. Check out what happens to NFTs when a collector dies, and, in other news, find out how publishers are looking for alternatives to play-to-earn gaming. And don’t forget this week’s Nifty News, featuring Bitcoin (BTC) miners earning from Ordinals and Reddit facing backlash for Gen 3 avatars.  Mastercard launches NFT-gated musician accelerator program Payment processing…

Sotheby’s Auctioning Off Rare NFTs From 3AC’s Seized Collection

“Collections are often representative of the time and the place from which they were formed, telling a unique story through their artworks,” said Michael Bouhanna, Sotheby’s head of digital art and NFTs. “This expansive collection marks an important moment in the rise of generative art on the blockchain in 2021, and was guided by the 3AC ethos of acquiring some of the highest quality and rarest works available on the market.” Source

OpenAI has until April 30 to comply with EU laws, ‘next to impossible’ say experts

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OpenAI may soon face its biggest regulatory challenge yet as Italian authorities insist the company has until April 30 to comply with local and European data protection and privacy laws, a task artificial intelligence (AI) experts say could be near impossible.  Italian authorities issued a blanket ban on OpenAI’s GPT products in late March, becoming the first Western country to outright shun the products. The action came on the heels of a data breach wherein ChatGPT and GPT API customers could see data generated by other users. We believe the…

Maple Finance launches pool for US Treasury yields

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Crypto lender Maple Finance has rolled out a United States Treasury pool for non-U.S. accredited investors and entities. According to an Apr. 19 post, Maple Finance has launched a new Cash Management Pool for institutional Web3 investors to access U.S. Treasury Bills directly. The offering is not available to U.S. individuals or entities. The pool will source yield from one-month U.S. Treasury bills and reverse purchase agreements, less fees, to lenders, with crypto hedge fund Room40 Capital serving as the sole borrower via a special purpose vehicle (SPV). Maple developers…

Gold Slides on Higher US Treasury Yields, Dollar – Bitcoin News

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Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and elsewhere. Gold and Silver Slip as Investors Bet on Another Rate Hike in May Gold prices dropped more than 1% on April 19 on higher U.S. yields and a more expensive dollar, with a number of investors now convinced that the United States Federal Reserve is likely to postpone…

Crypto firm Mawson sells Texas sites for $8.5M ahead of vote on anti-mining bill

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Crypto mining firm Mawson Infrastructure Group will be exiting Texas following an $8.5-million sale of its local subsidiary as well as lease agreements and contracts related to operating in the state. In an April 19 announcement, Mawson said it had arranged the sale of its subsidiary Luna Squares Texas to Singapore-based fund manager M Turing VCC Oracle Phase 1 Fund for $8.5 million in cash and stablecoins. CEO James Manning said the sale was conducted as part of a strategy to focus the company’s operations in Pennsylvania and reduce existing…

Blockchain Rech Companies and Exchanges and Crypto Miners Reveal that M&A Activity Is Strong

Second, if we look at a wider time horizon (as illustrated below), the mining group still outperforms the Nasdaq between April 2020 and April 2023., winning 90% to 63%. The blockchain group is down 12%. Crypto miners benefitted from a huge bubble in the first half of 2021 (traded between 30x and 70 EV/revenue). From early 2022 to mid-2022, those extreme valuations normalized and converged around 3.5x EV/revenue. The Blockchain group, meanwhile, pretty closely tracks the Nasdaq, though with less volatility. Source