Blockchain tech is holding NFTs back because of these three design flaws

Years after CryptoKitties were released to the masses, the nonfungible token (NFT) sector is finally going places. Coveted collectibles are selling for millions of dollars in some of the world’s finest auction houses. Top-flight soccer and basketball teams are releasing once-in-a-lifetime moments that fans cherish. Movie studios are starting to issue NFTs as memorabilia too, unlocking new revenue streams when they are needed most. It’s little wonder that NFT-focused companies are attracting eye-watering valuations. Just take a look at Sorare, which is on track to secure a price tag of…

Blockchain unicorn Fireblocks raises $310M

Blockchain infrastructure provider and crypto custodian Fireblocks has secured another $310 million in strategic investments, bringing its total valuation to $2 billion and marking another major milestone for the company. Michael Shaulov, CEO of Fireblocks, told Cointelegraph that the funding would go toward expanding internal capacity, including increasing the research and development and support teams. “In addition, we are aggressively expanding into markets such as EMEA and APAC, and we will use funds to grow our go-to-market team,” Shaulov said, adding that Fireblocks will place even more emphasis on strategic…

India to use Ethereum blockchain to verify diploma certificates

The Government of Maharashtra recently announced a partnership with Indian blockchain startup LegitDoc to implement a credentialing system powered by Ethereum (ETH) for providing tamper-proof diploma certificates.  In an effort to counter the rise in document forgery, the Maharashtra State Board of Skill Development (MSBSD) goes against India’s crypto ban narrative to use Ethereum-based public blockchain. In an exclusive statement with Cointelegraph, LegitDoc CEO Neil Martis highlighted that while the certificates are verified using the traditional manual methods, MSBSD will start advocating only the digital verification method for all the…

Goldman Sachs Applies for a DeFi and Blockchain ETF to Optimize Investment Results

Banking giant Goldman Sachs applied for an exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC) on Monday, July 26. The application dubbed Goldman Sachs Innovate DeFi and Blockchain Equity ETF seeks to maximise investment results based on the performance of the Solactive DeFi and Blockchain index. Per the announcement: “The Goldman Sachs Innovate DeFi and Blockchain Equity ETF would track the Solactive Decentralized Finance and Blockchain Index. The Fund would invest at least 80% of its assets, exclusive of collateral held from securities lending, in depositary…

How the First ESG Blockchain Is Doing It Right?

With several blockchains projects competing to get the edge, the big names frequently get the shots. However, small blockchains like Telos still manage to make a name for themselves and even exceed the functionality of the bigger ones in some areas. It is always important to look beyond the big names because the undervalued blockchains (such as Telos) are known to offer tremendous potential. Major enterprises and organisations have overlooked the big-name blockchains and are now turning to Telos to launch and run blockchain applications. With this in consideration, this…

Crypto mining firm Argo Blockchain files for US IPO

Argo Blockchain, a U.K. publicly traded company focused on crypto mining, has begun the process of applying for an initial public offering in the United States. According to a confidential draft registration statement filed Tuesday with the U.S. Securities and Exchange Commission, or SEC, Argo has proposed a dual-listing and initial public offering of American Depositary Shares, expected to occur in the third quarter of 2021. The company said the timing could depend on the SEC completing its review process and other conditions in the market. Argo said the number…

Etherisc onboards 17K Kenyan farmers covered by blockchain-based crop insurance

An insurance collaboration between decentralized protocol Etherisc and microinsurance issuer ACRE Africa has allowed thousands of farmers in Kenya to receive coverage for weather-related risks. Etherisc and ACRE Africa said they had processed insurance payouts for some of the more than 17,000 smallholder farmers in Kenya covered under the collaboration. The Chainlink Community Grant, the Ethereum Foundation and the Decentralized Insurance Foundation helped fund the project, which was first announced in November 202. “We’re thrilled that after months of hard work on this initiative, we’re seeing the fruits of our…

US megabank JPMorgan to hire more blockchain talent

Major American investment bank JPMorgan is upping its blockchain hiring spree by posting a series of new blockchain-related job applications. JPMorgan has opened multiple positions to pursue its global blockchain development efforts including job postings targeting blockchain-focused software developers, engineers, marketers and auditors. According to the company’s open positions on LinkedIn, many of these new blockchain-related job postings were published in the last few days. The new job postings seek blockchain talent across several of JPMorgan’s branches worldwide, including the United States, Singapore, India, Hong Kong, the United Kingdom and…

Polygon Launches New Division Polygon Studios, Focusing on Blockchain Games and NFT Fields

Ethereum layer 2 scaling solution Polygon today announced launching a new division of Polygon Studios on Tuesday, July 20, which will focus on blockchain games and non-fungible tokens (NFT). The new studio, Polygon Studios, is divided into two projects: Polygon Gaming Studio and a marketing integrated platform; the former project focuses on providing developers and game creators with decentralised game creation. Polygon said on Monday: “With the launch of Polygon Studios, games get 360-degree building support, big brands and much loved franchises can launch on Polygon, and gamers can enjoy a…

Polygon launches blockchain gaming and NFT studio

Ethereum (ETH) infrastructure developer Polygon has spun off a new subsidiary to advance its work in blockchain gaming and nonfungible tokens, or NFTs, offering further insight into the company’s long-term growth strategy. The newly formed Polygon Studios has three core objectives: establish Polygon’s position as the leader in decentralized gaming; create a brand that attracts developers and investors to its NFT ecosystem; and position Polygon as the best venue for transitioning to Web 3.0. Through an initiative called Polygon Gaming Studio, the company aims to help developers create and market…