roadrunner

I came to the Sandbox Alpha for the musical experiences of Snoop Dogg and Deadmau5. It was awesome dancing with my voxelated avatar: green hair, pink sports bra, denim shorts, yellow stockings, and red shoes. All with the insane creatures around me dancing, and the feeling of indulging in a real concert with flashing lights and pounding beats. I thought I might just stay at the show for the rest of the Alpha, until I saw the reveal schedule countdown and realized I had to get out of there and complete the quests. I needed to be able to claim assets by the end of the Alpha. The prize NTFs were calling me. Introduction: The Sandbox is a decentralized, community-driven gaming ecosystem where designers and artists can create, share, and monetize NFTs and gaming experiences on the blockchain, and is partnered with many industry giants. Its popular virtual real estate, known as LANDs, are taking over the NFT world. The Sandbox Alpha, Show House for Metaverse Creators What is the Sandbox Alpha? What would I experience there? The Sandbox is a popular metaverse game with the GameFi mechanism of asset ownership. GameFi stands for “financialization of video games”. To put it simply, it’s how gamers can make real financial gains or losses within the realm of a game itself. In a regular, non-metaverse video game, you pay for the game (one-time purchase, monthly/yearly subscription, or the “freemium” model of a lot of further in-game purchases) and become a customer. Whereas in a metaverse game, the players can actually become game asset owners by either creating assets and later putting them on sale or by buying and acquiring ready-made assets to own. In the Sandbox Alpha, when I walk around the various quests, I see land, and I see NFTs hanging in almost every corner with direct links to OpenSea for purchase, and lots of other customized equipment and accessories that players can purchase with real cryptocurrency. The sale and ownership of land in Sandbox is the most essential ownership in the game. That’s why when exploring the various quests and walking around the extremely diverse landscapes of the game, it feels like going to a metaverse real estate company to see their show houses. It helps me to understand how the land can be developed, decorated, and made attractive. My mind raced with brilliant visions of what else might be done on those empty plots of land in order to make them unique and appealing. I truly enjoyed the gaming experience. Since the main purpose of the Sandbox Alpha is to let the Alpha Pass holders, landowners, and creators understand the great potential of this metaverse, all the Alpha quests are designed in a way to be explorative, adventurous, and easy to complete. It’s basically a lot of walking, hiking, climbing, and jumping for my chic avatar in various landscapes. The quest is mainly about moving all around the landscape to reach certain points (sign posts), get familiar with the environment, and appreciate the design details in the process. When I entered an area, there were two NFT characters that I could talk to in order to receive my mission. The Metaverse Guide with a blue exclamation mark above his wise head and two blue crystal balls in each of his hands was the right NFT to give me the Alpha quest. The quest usually consists of four or five iconic places that I need to reach. The other NFT character is a random character in the story, like a scientist or a warrior, with a yellow exclamation mark on his head. His quest will likely send you to collect some rare resources and get into some sword fights. But again, in this metaverse game, there is no real death for your character. If a wolf bites you to death or you fall into the greenish acid pond, you’ll lose your life bar and respawn at the starting point to start all over again. Never give up! What’s even more awesome is that falling from high places will not get you killed. That’s why I selected a lot of scenic and high-rise sites to do a “leap of faith”. The only downside is that later I needed to find a way to climb back up and complete the rest of my quests. My character can also stay underwater for two hours without breathing. I let her stand on the flowing lava of volcanic stones as well. Six hours into the game, I went to the Snoop Dogg concert in the basement of the NFT institute. I took selfies at the Deadmau5 concert at the AlphaHub, I danced at Club XYZ, I climbed up and fell down endlessly at the post-apocalyptic Edge of the Abyss, I slaughtered wolves in the Dungeon of Dum-Yz, I explored the medieval castle in the Fortress of Bloodsouls, and I found peace in the sunset at Rusty Cliff. I have to admit that before I played Sandbox, I was used to high-resolution games with realistic visual effects like the Final Fantasy series from Square Enix. I never thought I would get used to the voxelated characters — basically a pile of moving boxes. But I did, and I loved it. The more I immersed myself in the metaverse environment — the graphics, the characters, all the objects, the architecture, the sound effects of howling wind and chirping birds, the background soundtrack that soothes or frightens you — it all came together and greatly enhanced my playing experience. I no longer stared at my voxelated body with a critical eye. Everything blends in naturally and it was just exceptional. If this is the show house the official Sandbox team is presenting to us, I have a lot of hope for future releases and just can’t wait to see the other brilliant ideas from creators worldwide. The “Easter Egg” After completing all the 16 Alpha quests released before December 17, I moved on to the additional experience named “Christmas Eve Miracle.” I didn’t have super high expectations for this experience and I assumed that it would be just another Christmas jingle-bell cliché, but it turned out to be what surprised and amazed me the most, in the end. The experience started on a narrow path surrounded by tall pine trees. I walked down the path and suddenly, at the end of the turn, a cheerful and bustling town unfurled in front of me, full of Christmas decorations. Fireworks, technicolor lights, Christmas markets, street performances, cozy cafes, and souvenir shops all filled the panorama. Christmas trees and gift boxes, people full of joy, snowflakes falling elegantly from the night sky, and the beautiful, soul-touching piano music with a grain of melancholy in it. Check it out here. View the full article

Cryptocurrency miners that are illegally connecting their equipment to the power grid should go to prison, says a Russian lawmaker who recently announced that his nationalist party is working on draft legislation to regulate the crypto activity. The industry cannot rely on support from the state, another high-ranking parliamentarian has added. Unauthorized Use of Power Could Land Miners Behind Bars The issue of regulating cryptocurrency mining is looming in Russia and lawmakers have been actively discussing the topic. Andrey Lugovoy, member of the lower house of parliament, the State Duma, has threatened miners with jail if they plug their hardware into the electrical grid without official permission. If mining is to become legal, the deputy noted, miners should turn to the respective utility before powering up their devices. And if they are denied access but nevertheless connect to the distribution network, they will be in violation of both the Administrative and the Criminal code of the Russian Federation, he explained. Lugovoy revealed in November that the Liberal Democratic Party of Russia, the nationalist faction he belongs to, is preparing to introduce a draft law to regulate crypto mining. The adoption of the legislation will benefit Russian citizens, the state itself, as well as entrepreneurs who want to get involved in the business legally, the lawmaker insisted. Speaking to the Russian online news portal Lenta.ru, he has now added that regulating mining makes sense. Besides imposing differentiated electricity rates for mining companies, the deputy believes their profits should be taxed after deducting the cost of the consumed energy and other expenses such as labor. Lugovoy accused miners of using cheap, subsidized electricity without paying taxes. Cryptocurrency Mining Deemed of ‘No Significance’ Bitcoin miners should not expect support from the government as their activity has “no social significance.” That’s according to a statement by the head of the parliamentary Financial Market Committee, Anatoly Aksakov, who also commented on the matter. The high-ranking lawmaker is a proponent of regulating mining as an entrepreneurial activity and its taxation as such. Aksakov announced that the Duma will host the first meeting of a working group on cryptocurrency regulation in December. It will launch with a review of a special report prepared by the Central Bank of Russia (CBR) and its members will focus on expanding the legal framework for cryptocurrencies. The Russian law “On Digital Financial Assets” regulated only some crypto-related activities earlier this year and mining was not one of them. Amid an ongoing crackdown on bitcoin mining in China, energy-rich Russia has become a major destination for mining enterprises, having received the bulk of Chinese mining machines during the miner exodus this year, according to a recent report. Members of the crypto industry believe that moderate regulations could help the country become a leader in the sector. However, authorities in regions such as Irkutsk, which has some of the lowest electricity rates in the country, have complained that excess consumption by illegal miners is causing power shortages. Do you think Russia will regulate cryptocurrency mining in the near future? Share your expectations in the comments section below. View the full article

A new cryptocurrency bill was approved by the Chamber of Deputies of the Brazilian Congress last week, and is now awaiting review by the Senate for approval. The project, if approved, would introduce a central body to regulate all cryptocurrency brokerage activity — ostensibly the Central Bank of Brazil — and establish new penalties for crypto-related crimes. Chamber of Deputies Passes New Crypto Bill in Brazil The Chamber of Deputies of the Congress of Brazil has approved new proposed legislation that seeks to bring clarity to cryptocurrency regulation in the country. The project, identified as Bill 2303/15 and proposed by Deputy Aureo Ribeiro, establishes definitions for exchanges and virtual currencies. It also requires a central body to oversee all cryptocurrency-based operations, which will be appointed by the executive branch of the government. The bill will now be passed to the Senate, which will ultimately decide if it is passed into law. The regulation doesn’t mention cryptocurrencies by name, and instead uses the term “virtual currencies.” However, the project does clarify that it doesn’t affect the digital representations of the national fiat currency (the real), other international currencies, or rewards points given by some companies in advertising campaigns. A virtual currency is defined as a representation of value that can be used electronically for payments or for investment purposes. Harsher Penalties and a Central Regulator The text includes specific penalties for cryptocurrency-related crime and establishes a new penalty for exchanges or parties that illegally manage cryptocurrency portfolios for third parties. This crime is classified as a type of embezzlement and would be punishable by four to eight years in prison and fines. While the bill establishes a central regulator, it cannot name it explicitly for legal reasons. However, Expedito Netto, the rapporteur of the commission that carries the law, stated that it’s likely this body will be the nation’s central bank. If approved, Brazil would join a group of countries in Latam that have dedicated rules for cryptocurrency assets, which are classified differently from other, similar assets. El Salvador is one of these countries, approving its so-called “Bitcoin Law” recently, establishing Bitcoin as legal tender in the country. Paraguay has also taken steps in this direction, introducing a bill to regulate cryptocurrencies in July. However, the legislation seeks to establish controls on crypto transactions, and instead of considering bitcoin a currency, views it as a commodity. What do you think about the cryptocurrency bill in Brazil? Tell us in the comment section below. View the full article

USDC, the second leading stablecoin by market cap, has been launched on the Avalanche blockchain as a native token. Previously, users wanting to get USDC in Avalanche had to bridge it via Ethereum. Now, Circle, the issuer of usd coin (USDC), will allow users to mint the tokens directly on Avalanche’s C-Chain, saving on fees and eliminating the need for bridges to wrap this token. Native USDC Support on Avalanche Circle, the issuer of USDC, has announced the launch of its stablecoin on the Avalanche network. Circle expects this development to create new opportunities and payment options for projects being specifically developed in the Avalanche ecosystem. While Avalanche users already had the stablecoin available on the chain, it was in a wrapped state, and users had to bridge it from its Ethereum version. This was viewed by some as causing friction due to associated fees. Now, users of the Circle platform will be able to mint and redeem USDC directly on top of Avalanche’s C-chain. Jeremy Allaire, CEO of Circle, stated: With USDC as the leading dollar digital currency for the decentralized economy, this integration will be instrumental for developers and communities looking to participate in one of the fastest, organically growing ecosystems in crypto. John Wu, president of Ava Labs, also commented on the launch, stating that this partnership could help users tackle problems with the usage of fiat for different purposes. He stressed: A fundamental restructuring of legacy payments and financial infrastructure is not only warranted but overdue. Together, Avalanche and Circle will pioneer solutions to these systemic challenges. Circle’s Multi-Chain Strategy This latest move is part of an expansion policy Circle announced in June, aiming to launch on ten more blockchains, with the goal of growing its presence in defi environments. The execution of this strategy has been progressing since then, with USDC launching on Tron and now, Avalanche. This expansion policy has been cited as one of the causes for the growth USDC this year, which experienced a 10x rise in market cap. Starting January 1st, there was a little more than 4 billion USDC in circulation, and now there are 40 billion coins, with the number still growing. However, even with all this growth, it is yet second to USDT, which has a market cap of more than $77 billion. What do you think about the launch of USDC on Avalanche? Tell us in the comments section below. View the full article

On December 16, the blockchain-based lending platform Nexo announced the firm has launched a non-fungible token (NFT) lending desk. While the company offered crypto-backed loans using tokens like bitcoin and ethereum for instant funds, Nexo is offering instant liquidity to NFT holders that don’t want to sell their NFTs. Nexo to Offer Loans for Bored Ape and Cryptopunks NFT Collateral NFTs have become a big deal in 2021 and a billion-dollar industry almost overnight. Popular collections like the Bored Ape Yacht Club (BAYC), Cryptopunks, and Meebits have sold for hundreds of thousands and even millions of dollars per NFT. This week, the blockchain-based lending platform Nexo has revealed a lending desk dedicated to offering liquidity to NFT owners who use their NFTs as collateral. On the company’s blog, Nexo explains that NFT owners can get “instant liquidity without having to sell your precious NFTs.” Right now the firm is accepting NFTs from two collections Bored Ape Yacht Club and Cryptopunks. In the future, Nexo says other collections will be added to the list of accepted NFTs. In terms of credit withdrawals, Nexo customers can withdraw stablecoins, ethereum (ETH), and other digital assets. “Borrow up to 20% of the value of your BAYC or Cryptopunks without selling them,” Nexo says. “No Credit Checks [and] prompt loan approval without the hassle of credit scores and inquiries,” the lender notes. Nexo says the NFT lending process will be a “white-glove service,” and there are “no liquidations before maturity, even if the value of your NFT fluctuates during the course of the loan, you won’t get liquidated.” Seeing how the NFT lending desk will be an over-the-counter (OTC) service, loan applicants need to fill out a specialized form. Essentially, an NFT owner would apply, fill out a form with their specific NFTs ID number, and then wait for a Nexo representative to contact them. “Our NFT Lending Desk and art financing functionalities are just the beginning of Nexo’s NFT and metafi journey, with more investment-grade products, accessible, secure, and high-profit exposure to the NFT market coming to our product suite soon,” Nexo’s announcement concludes. What do you think about Nexo launching an NFT lending desk dedicated to offering liquidity to BAYC and Cryptopunks NFT holders? Let us know what you think about this subject in the comments section below. View the full article

American professional basketball player for the National Basketball Association (NBA) Kevin Durant, is joining Coinbase according to a recent report from Bloomberg. According to the report, Durant will appear as “a face of the brand” and will help promote the exchange’s advertising content. Kevin Durant Joins Coinbase NBA legend Kevin Durant, otherwise known as “KD,” has joined Coinbase in an advertising deal that will feature Durant as a Coinbase spokesperson. Durant plays for the Brooklyn Nets as a power forward and is widely considered one of the best professional basketball players of all time. The Brooklyn Nets star will join Coinbase as “a face of the brand” according to Durant’s manager, Rich Kleiman, speaking with Bloomberg. While Kleiman says that KD does minimal amounts of brand partnerships, off-court, the Nets’ forward is one of the highest-paid basketball players in the world thanks to his deals with Nike and Foot Locker. “Kevin does very, very few brand deals and that was by design,” Kleiman stressed. “They’re this new model of brand partner for us, where they do integrate in all different parts of our business,” Durant’s manager further noted. Furthermore, Durant and his investment fund called Thirty Five Ventures invested in Coinbase in 2017. The NBA legend joined the Coinbase $100 million funding round that year and has invested in other crypto asset companies such as Opensea. Speaking with Bloomberg’s Kim Bhasin, KD said that he’s always had an interest in financials and business. “Even when I was younger, I was always curious about the business side of things and always trying to learn from the people I’ve gotten to meet along the way,” Durant said. The Brooklyn Nets’ power forward added: Basketball was always number one for me, but it was clear that there was a lot more that I could accomplish if I had the right team around me. Sports Deals Become a Very Prominent Trend in Crypto This Year Durant’s partnership follows a slew of sports deals that have taken place this year between sports-related agencies and athletes, and crypto companies. For instance, FTX has inked deals with the Los Angeles Angels’ Shohei Ohtani, Green Bay Packers running back Aaron Jones, and seven-time Super Bowl winner Tom Brady and his supermodel wife Gisele Bündchen. FTX has also partnered with Sports Illustrated and renamed the Miami Heat Arena to “FTX Arena.” The exchange Crypto.com made a deal to rename the Los Angeles Lakers’ Staples Center to “Crypto.com Arena.” The exchange Crypto.com also inked a deal with the MMA entertainment firm UFC. The largest digital asset fund manager, Grayscale, has partnered with the National Football League (NFL) team the New York Giants. In fact, there have been so many sports deals this year that it has become one of the biggest trends in the crypto industry in 2021. What do you think about Kevin Durant joining Coinbase as an ambassador? Let us know what you think about this subject in the comments section below. View the full article

YouHodler is a fintech platform that helps people access the benefits of the crypto economy. It allows users to get instant cash and cryptocurrency loans, exchange crypto, and earn up to 13% APY by depositing crypto in their reward account. Ilya Volkov is the CEO and Founder of YouHodler. He recently joined the Bitcoin.com News Podcast to talk about the business: Ilya has more than 15 years experience in the fintech industry. Prior to his entry into the cryptocurrency and DLT industry, he got his expertise in different financial market segments such as commercial finance and online trading with various financial assets — for almost 6 years he was a Member of the Management Board of Libertex Group (Forex Club Group). Currently, Ilya is Member of the Board of the Crypto Valley Association, Switzerland, and its Western Chapter Chair, coordinating the CVA’s activity in this region and abroad. The Bitcoin.com News podcast features interviews with the most interesting leaders, founders and investors in the world of Cryptocurrency, Decentralized Finance (DeFi), NFTs and the Metaverse. Follow us on iTunes, Spotify and Google Play. This is a sponsored podcast. Learn how to reach our audience here. Read disclaimer below. View the full article

Global markets have defied predictions as the U.S. Federal Reserve and several central banks worldwide are prepping to slow down monetary easing policy. On Wednesday, the U.S. central bank’s Federal Open Market Committee (FOMC) said it plans to taper quantitative easing (large monthly asset purchases) and end the program by March 2022. Moreover, the FOMC members decided to keep interest rates at zero but expect at least three rate hikes next year. Federal Reserve Outlines Asset Purchase Tapering Plan and Rate Hikes for 2022 Since the onset of Covid-19 in the United States, the U.S. Federal Reserve initiated a monetary easing policy like no other in history. The move has led to a surge in inflation and analysts and economists worldwide have criticized the Fed’s decisions in recent times. The FOMC concluded a two-day meeting on Wednesday and the central bank explained that it plans to shrink its bond purchase program to $30 billion per month by January. This month the Fed will leverage $90 billion in quantitative easing (QE) purchases as opposed to last month’s $120 billion. In addition to the tapering of QE, the FOMC members also detailed that the central bank has plans for three rate hikes next year. It expects three in 2022, two more rate hikes in 2023, and another two interest rate increases in 2024. The Fed did not, however, blame the rising inflation in the U.S. on its QE but instead noted that the inflation was caused by issues with supply and demand. “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the FOMC said on Wednesday. Furthermore, the FOMC statements said Covid-19, and new coronavirus variants, have affected the U.S. economy a great deal. ‘Buy Rumors, Sell Facts’: Global Markets and Bitcoin Rise Following the FOMC Meeting Despite the taper statements and disclosing that there will likely be three rate hikes next year, the Fed’s comments saw a market reaction opposite to what was predicted before the taper announcement. Nasdaq, NYSE, and the Dow Jones all saw gains after the FOMC meeting concluded. Speaking with Bitcoin.com News, Alex Kuptsikevich, the Fxpro senior market analyst, said the Fed “held the most hawkish edge of market expectations” on Wednesday. “The FOMC announced that it would double the pace of tapering,” Kuptsikevich said. “The committee’s updated forecasts suggest three key rate hikes in 2022, although only six months ago, it expected none. We also heard that the balance of the Fed’s targets allows a rate hike to begin before achieving full employment due to higher inflation.” “The Fed chairman also called financial asset valuations ‘elevated,’” the market analyst continued. “This is a clear signal of a willingness to hurt the markets, as he did in 2018. During the press conference, Powell noted that FOMC did not yet have a consensus on the timing of the Fed’s balance sheet cut. In the previous stimulus wind-down cycle, this was not an actual issue long after the start of the rate hike — The dollar index rallied within the first minutes after the FOMC, touching the highs from July 2020, but then it turned back down, losing 0.8% from the peak at the time of writing.” Kuptsikevich added: The feeling is that the markets have prepared for a risk-on, expecting softness from the Fed, and have not backed down despite the Fed’s rhetoric. Some commentators believe we saw a classical ‘buy rumours, sell facts’ reaction. However, the rise in ‘growth’ stocks speaks more about the market mood to end a strong year on a cheerful note. At the same time on the dollar, a wave of profit-taking growth in the last six months seems to have started, although the Fed’s stance is much more hawkish compared to other central banks from the DXY basket. Even bitcoin (BTC) defied expectations on Wednesday, as the price kicked up a notch after the FOMC’s hawkish plans were announced. Just before the meeting ended, BTC was exchanging hands for $46,590 per unit and after the FOMC meeting came to a conclusion, BTC prices jumped to a $49,420 high on Wednesday afternoon (EST). Bank of England Raises Benchmark Rate, European Central Bank Keeps Rates Held Down, US Jobless Claims Still Above Pre-Pandemic Levels In addition to the FOMC meeting, the Bank of England (BoE) kicked up its benchmark rate to 0.25% from 0.1%. No other central banks have done this yet and the European Central Bank, like the Federal Reserve, kept its benchmark interest rate suppressed for now. The European Central Bank explained that it will not raise borrowing rates until inflation settles. In addition, the U.S. weekly jobless claims published by the Labor Department indicate a rise last week. The Labor Department’s report shows jobless claims are still well above pre-pandemic levels. What do you think about the Federal Reserve’s taper process and discussions about raising the benchmark rate three times in 2022? What do you think about the Bank of England raising its benchmark rate for the first time since the onset of the Covid-19 pandemic? Let us know what you think about this subject in the comments section below. View the full article

Federal Reserve Chairman Jerome Powell says that he does not see cryptocurrencies as a financial stability concern. However, he noted that they are risky and “there’s big consumer issues for consumers who may or may not understand what they’re getting.” Fed Chair Powell Says Cryptos Are Risky but Currently Not a Financial Stability Concern Fed Chairman Jerome Powell talked about cryptocurrency in a press conference Wednesday. Commenting on whether cryptocurrencies are a threat to the country’s financial stability, he said: I don’t see them as a financial stability concern at the moment. I do think they are risky. They’re not backed by anything. “I think there’s big consumer issues for consumers who may or may not understand what they’re getting,” Powell continued, adding that “There are certainly developments in the markets that are worth following, which are really not in our jurisdiction.” Powell also discussed stablecoins. He noted that he supports the view expressed in the President’s Working Group’s report, which recommends stablecoin issuers be regulated like banks. Noting that “Stablecoins can certainly be a useful, efficient consumer-serving part of the financial system if they’re properly regulated,” the Fed chair stressed that “Right now, they aren’t.” Powell concluded: They have the potential to scale, particularly if they were to be associated with one of the very large tech networks that exist. This week, the Bank of England issued a financial stability report stating that crypto assets “currently pose limited direct risks to UK financial stability.” However, the report warns that “they will present a number of financial stability risks if they continue to grow at their current rapid pace, and as they become more interconnected with the wider financial system.” What do you think about Fed Chair Powell’s comments? Let us know in the comments section below. View the full article

The Indian government is reportedly making additional changes to the country’s crypto bill. The bill, which is listed for the current session of parliament, may be taken up in the budget session instead. According to reports, the government could also “consider bringing an ordinance or special order after the session.” Indian Crypto Bill Needs More Work The government of India is reportedly planning to make additional changes to the crypto bill. The “Cryptocurrency and Regulation of Official Digital Currency Bill 2021” is currently listed to be considered in the winter session of parliament. However, a senior government official told Business Today Thursday that the government is considering reworking the bill and will likely introduce it in the budget session in February. According to the unnamed official: Discussions are ongoing and key issues like the treatment of private cryptocurrencies, the rationale of regulation and global practices is being looked into once again. The Indian government calls all cryptocurrencies that are not issued by the central bank “private cryptocurrencies,” including bitcoin and ether. In addition, NDTV similarly reported Wednesday that the government is planning to make some changes to the bill. Citing unnamed sources, the publication said the government wants India’s crypto regulation to be in tandem with the global framework but does not want to rush on the crypto law. The news outlet added: More changes are likely in the crypto bill … and the Centre might consider bringing an ordinance or special order after the session. The country’s finance minister, Nirmala Sitharaman, recently said that the crypto bill needed to be reworked before submitting to the cabinet. The current bill seeks “to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses,” according to the legislative agenda for the winter session of Lok Sabha, the lower house of India’s parliament. While the government has not provided details of the bill, there are reports that India is planning to regulate crypto assets, with the Securities and Exchange Board of India (SEBI) as the main regulator. In addition, the government is planning to ban crypto’s use for payments and will set a deadline for investors to comply with new regulations and declare their crypto assets. Indian Prime Minister Narendra Modi has been somewhat involved in finalizing cryptocurrency legislation in India. He has chaired a few high-level meetings on cryptocurrency and is reportedly taking a final decision on the country’s crypto regulation. Last week, he said at the summit for democracy hosted by U.S. president Joe Biden that cryptocurrency should be used to empower democracy, not undermine it. His Twitter account was subsequently hacked and a tweet was posted falsely claiming that India has adopted bitcoin as legal tender and purchased 500 BTC to distribute to all residents. When do you think India will finally regulate crypto? Let us know in the comments section below. View the full article

Minereum, the project behind the first self-mining smart contract, welcomes you to The Minereum World – an exciting and interactive play-to-earn 3D game venture where users can come together virtually in the metaverse! The goal of the game is to grab and own as much land as possible! The more land you own, the more cubes you will get, leading to more and more Minereum. Want to know more? Find out below. Introducing the Minereum World Metaverse Minereum has recently announced to the community that its entering the Metaverse race with the launch of Minereum World. The Minereum World consists of a finite number of land plots, these land plots are NFTs, and once minted by the users, they can be traded on open markets like opensea.io. The Land Pre-Sale is live, so anyone can now mint Minereum Land for the ETH, BSC, and Polygon Chains. 20,000 plots of land are available for meeting on each blockchain and can be minted by anyone via the Minereum web3 platform. The costs to mint NFTs are tentative currently – subject to change, but for now, here are the costs on each Chain: ETH: 0.05 eth per land plot BSC: 0.35 BNB per land plot POLYGON: 100 MATIC per land plot Once minted, a user can manage and trade the NFTs on OpenSea ETH, OpenSea Polygon, as well as Tofunft BSC. All the proceedings of the Land Sale in ETH, BNB and MATIC will be distributed to the Fee Share Holders on their respective blockchains. All the proceedings in MNE, MNEB, or MNEP will be burned. Minereum World 3D game is planned to launch in the first quarter (Q1) of 2022. The game is still under development, but rapid progress is being made and the team is excited to launch it. Stay tuned and updated on all the game related developments, by following Minereum on the social media channels. About Minereum With the rapid and current growth of blockchain technology, being widely accepted throughout the tech world and beyond, Smart Contracts are clearly becoming the future of the economy and financial systems. Minereum brought new and fresh approach to smart contracts that is transparent and fair. Minereum was the first self-mining smart contract token in the cryptocurrency space. Minereum was launched in 2017 on the Ethereum blockchain and since then has gained traction, gaining a place for itself in the evolution of blockchain technology. In 2019, Minereum V2 was launched that brought a lot of updates. Following V2, Minereum has gone from strength to strength, launching on different blockchains like Binance Smart Chain in June 2021 and the Polygon Network. To learn more about Minereum and the upcoming Metaverse visit the project’s website at www.minereum.com and get involved with the community on Twitter. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

A court in Beijing has ruled that three investment agreements for bitcoin mining operations in Sichuan are “invalid.” A compensation claim has been rejected in the case, viewed as an indication that the Chinese judiciary would not provide protection for crypto-related interests. Beijing Court Invalidates Bitcoin Mining Contracts The Chaoyang District People’s Court in the Chinese capital has recently rejected a lawsuit seeking damages from a crypto company. It was filed by one of its clients who failed to make a return on his investments in bitcoin mining, the Hong Kong daily South China Morning Post reported, quoting state-run media in the mainland. Beijing Phonf Marketing Technology, the plaintiff, entered into three agreements with Zyzc Blockchain Technology in May 2019 for the deployment of mining hardware in Sichuan, paying 10 million yuan ($1.6 million) for the job. At the time, the central government was still tolerant of crypto mining, while some local authorities, including in this province, allowed bitcoin farms to utilize surplus hydropower. China banned crypto-related activities such as trading back in 2017 but the government did not interfere with mining until this spring. In May, the State Council decided to clamp down on the industry following President Xi Jinping’s pledge to achieve carbon neutrality in the next four decades. The government offensive has since spread to provinces like Sichuan. In its plea, Beijing Phonf revealed that it had earned 18.35 BTC, worth around $904,000 at the time of writing but less in previous periods, and demanded that the firm it worked with pay another 278.17 BTC in compensation. In the first case of this kind, as per the report, the court has determined that the mining contracts are invalid. The newspaper remarks that the decision suggests the Chinese judicial system does not intend to recognize or protect interests related to cryptocurrencies. Sichuan Moves to Close Down Mining Farms Concerned in Court’s Decision Following the rejection of the lawsuit, the Chaoyang District Court notified the provincial branch of the National Development and Reform Commission (NDRC) in Sichuan. Officials at the economic planner took steps to shut down the remaining mining facilities involved in the case and targeted other coin minting projects. Inspections to identify illegal mining activities have been carried out elsewhere as well. Authorities in Zhejiang, for example, recently raided almost two dozen government-run organizations, including universities, and established that 14 of them were mining crypto. Besides Sichuan and Zhejiang, this year’s government crackdown on the mining sector has affected a number of provinces such as Xinjiang, Qinghai, Yunnan, Inner Mongolia, Anhui, and Hebei. In November, the NDRC also announced it’s going after state-run industrial enterprises involved in the extraction of digital currencies. Do you think this decision of the court in Beijing will determine how the Chinese judiciary will treat similar cases in the future? Share your thoughts on the subject in the comments section below. View the full article

The pace of the crypto industry’s acceleration in 2021 has surprised many, including Marcus Swanepoel, CEO of cryptocurrency exchange Luno. Swanepoel recently remarked: “We knew it was coming, but just not that fast, particularly in certain subsectors like NFTs and some altcoins.” Subsectors at ‘Top of Their Hype Cycle’ The acceleration of the crypto industry in 2021 surprised some players in the space, including Marcus Swanepoel, co-founder and CEO of crypto exchange platform Luno. Although Swanepoel notes this acceleration was expected, he nonetheless concedes that the pace of the growth was not anticipated. In remarks published by the Daily Maverick, the CEO offers his thoughts on what may have caused the rapid acceleration. “The industry accelerated a lot faster this year than we anticipated. We knew it was coming, but just not that fast, particularly in certain subsectors like NFTs and some altcoins,” Swanepoel is quoted explaining. However, Swanepoel opines that some of the subsectors are probably at the “top of their hype cycle” and will likely cool off in the next cycle. The CEO also lamented that “less than 90% of what people see [in the crypto industry] is actually useful or legitimate.” CBDCs Beneficial to Crypto In addition to sharing his thoughts on the crypto industry’s growth, as well as Luno’s journey since its acquisition by Digital Currency Group, Swanepoel also offered his views on the perceived threat to cryptocurrencies posed by central bank digital currencies (CBDC). He explained that while many governments are seemingly interested in issuing or are experimenting with CBDCs, the reality is that it will take several years before such digital currencies are fully rolled out. In the event that many countries succeed in rolling out a functioning digital currency, Swanepoel argues this will be beneficial to crypto, elaborating: But if they [governments] do pull it off, it would be very beneficial for crypto as it would just increase the ease of switching in and out of decentralised crypto such as bitcoin. On the regulation side, Swanepoel suggests that progress toward the creation of appropriate regulatory frameworks has been very slow globally. In the same interview, Swanepoel also quipped about how China’s crackdown on bitcoin mining has resulted in the shifting of this activity to North America. What are your thoughts on this story? Tell us what you think in the comments section below. View the full article

Along with the growing popularity of cryptocurrencies, Ukrainians are enjoying an expanding range of related services and products. Besides new options to buy and trade coins, crypto users in the country will be offered two cards that will allow them to spend their digital currencies in stores and online. Wirex Gives Ukrainians Access to Over 20 Cryptocurrencies, Promises Crypto Card U.K.-based crypto payment processor Wirex has allowed residents of Ukraine to purchase and exchange cryptocurrencies on its platform. The company supports more than 20 cryptocurrencies, including major coins such as BTC and ETH as well as popular altcoins like DOGE. Ukrainians will also be able to open crypto savings accounts based on defi products, Wirex told Forklog this week. These will return up to 16% compound interest on selected currencies annually, the provider explained, noting that the interest can also be credited in the native WXT currency. Wirex also plans to issue its card to Ukrainian crypto holders giving them the opportunity to spend their coins on goods and services offered by local merchants that do not directly accept cryptocurrency. This will be possible through instant conversion to hryvnia. Ukrainians will also receive a virtual card they can add to Apple Pay and Google Pay. The increasing popularity of cryptocurrencies has turned Ukraine into a leader in adoption while authorities in Kyiv have been taking steps to regulate the crypto space. According to Wirex CTO Ruslan Kolodyazhny, the company has long planned to enter the Ukrainian market as it considers it promising. The British fintech obtained a license from the U.K. Financial Conduct Authority more than three years ago. Since then, its services have enjoyed a growing consumer interest. Over 4 million people in 130 countries now use its Mastercard and Visa cards. Ukraine’s Monobank to Offer Another Bitcoin Card Ukrainians may expect similar products from domestic payment providers as well. Last month, the Ukrainian online banking platform Monobank announced it’s ready to release its own cryptocurrency card. The company complained it had been waiting for more than three months to get an approval from the National Bank of Ukraine. In October, the head of the monetary authority, Kirill Shevchenko, revealed that the central bank had been approached by commercial banks seeking permission to issue cards linked to crypto wallets. He stressed, however, that the regulator remains concerned over the risks associated with such transactions and certain challenges with financial monitoring. Ukraine is yet to comprehensively regulate its crypto market. Ukrainian parliament adopted the long-awaited law “On Virtual Assets” in early September when lawmakers approved the bill on second and final reading. The legislation passed its first reading last December, after which it was revised and presented again in the Verkhovna Rada in June of this year. However, in early October, President Volodymyr Zelensky returned the law and requested further changes. Do you expect Ukrainian regulators to soften their stance on crypto-related products and services? Tell us in the comments section below. View the full article

Gilberto ‘Zurdo’ Ramírez, a Mexican boxer with an impeccable professional record, is warming up for a Saturday night bout, one last hurdle before getting a shot at the World Boxing Association (WBA) light heavyweight title. Ramirez will face Yunieski Gonzalez in a final eliminator securing a chance to defeat the unbeaten champion, Dmitry Bivol. Bitcoin.com is backing Zurdo’s push for the top spot in an exciting partnership for both sides. Zurdo Prepares for Title Eliminator With Bitcoin.com Gilberto Ramírez, the 30-year-old former WBO super middleweight champion, with five title defenses at 168 pounds in his impressive 42-0 career, is now two fights away from the World Boxing Association (WBA) belt in the 175-pound, light heavyweight category. On Saturday, Dec. 18, ‘Zurdo de Oro’ (Golden Southpaw) will step into the ring in a match that will determine the challenger for the title. Ramírez will face Cuban veteran Yunieski Gonzalez, 36, in the main event of a DAZN card that will be aired live from the AT&T Center in San Antonio, Texas. The stakes are very high — the winner will meet Dmitry Bivol, also 30 and undefeated, who is holding the WBA light heavyweight belt since 2017. The Kyrgyz-born Russian has a 19-0 record. Bitcoin.com is proudly sponsoring Gilberto’s powerful journey to the top of the light heavyweight division as part of a partnership deal that both the crypto company and Zurdo’s team find exciting and promising. Bitcoin.com recently set Zurdo up with a Bitcoin.com Wallet and sent him some bitcoin cash (BCH). “We are extremely excited to reach a new audience and partner with an undefeated boxer who may have a title fight shot,” Bitcoin.com’s CEO Dennis Jarvis emphasized. Ramírez expressed his gratitude for the support on Instagram, noting his interest in crypto and stating “there’s no better way to buy, sell, trade, invest, and spend than with Bitcoin.com.” In comments sent to Bitcoin.com News, the boxing star revealed he believes this is the beginning of a long-term relationship and shared his hope to bring great value to it. Zurdo also stated: I’m excited to be part of the Bitcoin.com team. It’s an honor and a blessing to be working with such an innovative company in a young industry that I’ve studied for a long time. I’ve been a believer in crypto for several years now and I can’t think of a better team to be partnering with than Bitcoin.com. The Golden Southpaw will try to unify titles at 175 before moving up a weight class. Speaking to boxing media earlier this week, he said he feels good at light heavyweight and also admitted he would eventually have to go up to cruiserweight. Bitcoin.com’s team wishes Gilberto success on his knockout path to continue what is already a remarkable career for a professional boxer in his prime. Are you going to root for Gilberto ‘Zurdo’ Ramírez during his fight on Saturday? Tell us in the comments section below. View the full article

Something exciting & sensational is coming for NFT collectors and enthusiasts alike to look forward to. Trava.Finance is launching #KnightNFT for enabling NFT-collateralization. By opening the NFT marketplace for everyone and facilitating collateralization, we can see more activity in the future & benefits. This will enable Trava.Finance to progress towards achieving their goals and introducing more NFT utilities in their lending pool. Read on to find out more about the thrilling launch and what Trava.Finance is up to, in detail. Introducing Trava Knight NFT Trava.Finance is the world’s first decentralised marketplace for cross-chain lending and offers a flexible mechanism in which users can create and manage their lending pools to start a lending business. The team recently announced they will launch Knight NFT for enabling NFT-collateralization, to fulfil their vision of allowing NFTS to be widely used as collateral and improving the lending protocol. In October, Trava successfully launched their NFT Renting Marketplace in association with a GameFi project, which saw an influx of traffic towards it – bringing momentum from players. Many players to date have successfully deposited their NFTs for others to rent at a cheater price. To further expand on the success, Trava plans to expand it in the future to include more NFT utilities in their lending pool. Trava.Finance’s vision is simple – to progress towards the goal of allowing NFTs to be used as collateral and improving the lending protocol. In the future, the team aims to develop the auction mechanism to price the NFTs and then prepare to integrate them into the lending pool, which acts as collateral for loans. Trava’s NFT Marketplace, which is planned to launch first, will be the first step to enabling NFT-collateralization; bringing huge benefits to the lenders and borrowers soon. Knight NFT Holders Will Be Able to Farm, Stake and More Trava NFT Marketplace will allow NFT owners to list and sell their NFTs. The launch of the Trava Knight NFT will help increase TRAVA utility in the system, as all the trading on the Marketplace will be done in $TRAVA, thus $TRAVA holders will receive a lot of benefits gained from the launch of the Trava Knight NFT. Aside from this, there are other benefits, including farming, staking and more. At the first stage of the NFT Marketplace launch, Trava will run the ‘Trava Armoury Chests’ product, which allows users to buy and uncover mystery chests. Based on the Epic of Trava Knights, the item in those chests will be randomly 1 out of 4 parts of a knight’s armour, including Helmet, Armor, Shield, and Weapon. These parts will be classified into 5 rarities from lowest to highest: Copper, Silver, Gold, Diamond, and Crystal. One chest will contain one item of random rarity. Users can assemble a special Collection NFT to farm in our NFT vault after collecting 4 full parts of Helmet, Armor, Shield, and Weapon. Trava.Finance’s NFTs Farming Program will be launched several hours after the “TRAVA ARMOURY CHESTS” sales program initialization. By collecting NFT collections, users will be able to earn great yields from the NFTs farming program. Trava’s farming program offers holders several vaults for each rarity with a great APY of minimum 3-digit. The rarer the NFT, the higher the APY. A great benefit offered to Knight NFT holders that incentivizes longer holding is that the longer holders’ stake in the vaults, the more preferential treats they will in the lending pool in the future. Loyalty will be benefited enormously from NFT collateralization. The unlucky shouldn’t fret, because Trava offers a unique ‘Trade-up’ mechanism, which allows users to upgrade their NFT rarity by owning multiple items of the same rarity, as well as providing users with a ‘Buyback’ mechanism to have more options to sell their NFTs. Here are some important dates to look forward to! Dec 13th — Initiative Campaign for $TRAVA holders to get free Trava Armoury Chests: top 100 $TRAVA holders recorded from Dec 13th will be given free Trava Armoury Chests. Dec 20th — 21st — Flash sales for Armoury Chests: Our Armoury Chests will be sold at a discounted price every 2 hours in 2 days. Dec 22rd — Official Launch of Trava NFT Marketplace and Farming Program with at least 3-digit APY: Enabling to list and sell Knight NFTs, buying Armoury Chests and offering vaults with great yield. To keep up the project visit Trava.Finance, and make sure to follow the team on Twitter, Telegram, Reddit, Discord and Medium. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Solana Ventures, the investment arm of Solana Labs, has announced a new investment fund to bring more Web3 products to its network. In partnership with Forte, a company that provides tools for blockchain integration on games, and Griffin Gaming, a VC company invested in the global gaming market, Solana Ventures will open a $150 million fund. Solana Ventures to Incentivize Game Development Solana Ventures, the capital arm of Solana Labs, has launched a new fund to entice developers to build gaming applications on top of Solana. The fund, which aims to put $150 million in the hands of blockchain gaming initiatives, also has the participation of Forte and Griffin Gaming, two companies involved in the gaming world. The fund seeks to bring more gaming-related developments to Solana after the growth of such applications in the last few months, with the introduction of the metaverse concept to a more mainstream audience. Web3 games allow users to participate in virtual worlds by owning assets and present the opportunity of establishing a market among users for these, prompting the creation of a self-sustaining economy. On this, Forte CEO Josh Williams stated: With the advent of NFTs and other blockchain technologies, game developers can now offer their audiences real property rights and create self-sustaining and thriving economies within their games. Tools and Support for Developers Apart from the economic incentives this fund seeks to offer, there is also the support of companies like Forte, which offers tools for developers to include blockchain elements in games via an already established framework — instead of starting from scratch. Griffin Gaming, which has invested more than $400 million dollars in gaming-related ventures all over the world, also stressed the importance of the introduction of these new gaming-related applications for the future of the blockchain sector. Pierre Planche, a partner at Griffin Gaming, declared: Gaming and interactive media would not be a cornerstone of blockchain today if it weren’t for the many technical developments the community has accomplished in the past decade. This is not the first gaming and Web3-dedicated fund that Solana Ventures has launched, with the company putting resources toward supporting similar metaverse and play-to-earn related initiatives previously. The first one was launched in November, in partnership with FTX and Lightspeed, and allocated $100 million for the same purpose. What do you think about Solana Ventures and its latest gaming-related $150 million fund? Tell us in the comments section below. View the full article

The U.K. advertising watchdog has banned several cryptocurrency ads, including those by Papa John’s Pizza, Coinbase, Kraken, Etoro, and Luno. The authority says the ads are “misleading” and “irresponsibly taking advantage of consumers’ inexperience.” 7 Crypto Ads Banned by UK Authority The Advertising Standards Authority (ASA) banned seven cryptocurrency ads Wednesday. The ads are for Papa John’s Pizza, Coinbase, Kraken, Etoro, Luno, Coinburp, and Exmo. After evaluation, the U.K. advertising watchdog says that the ads are “misleading” and “irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment.” Besides giving specific instructions to each company about what they must do to comply with its advertising standards in the future, the ASA ordered in all cases: The ads must not appear again in the form complained about. The Papa John’s Pizza ad was a promotion on its website and Twitter. The famous pizza chain was giving away bitcoin with purchases in May. The company advertised “free bitcoin worth £10.” With a purchase of £30 or more, customers would save £15 and get £10 worth of bitcoin from crypto exchange Luno. Coinbase’s advertisement was a paid-for Facebook ad. It included text that reads: “£5 in bitcoin in 2010 would be worth over £100,000 in January 2021. Don’t miss out on the next decade – get started on Coinbase today.” Luno’s ad was an in-app ad seen within the Daily Mail Online app. It included text which states: “Invest in crypto for as little as £1.” This was not the first time the ASA had a problem with ads by Luno. The authority banned the exchange’s “Time to Buy” bitcoin ads on London buses and the underground in May. Payward’s ad was a digital poster for its crypto exchange, Kraken, seen at London Bridge station. It included text which states: “Buy 50+ crypto in minutes,” “Get started with as little as £10,” and “Build digital wealth and buy crypto on the go.” Etoro’s ad was a paid-for display ad on the Yahoo Finance website. It included text which states: “Invest in the world’s top cryptos with one click.” Exmo’s ad was a video on the Wingin’ It! Paul Lucas Youtube channel. The video’s description had text that states: “Download Exmo now and save loads on trading commissions! Exmo has been given temporary registration to carry out crypto-asset activities.” The seventh ad banned Wednesday was a Twitter page for crypto trading platform Coinburp, which included a bio section which states: “Register in minutes, deposit instantly, then make super-easy and secure crypto trades.” In November, the ASA launched an investigation into advertisements for the cryptocurrency floki inu (FLOKI). The ads, titled “Missed Doge? Get Floki,” appeared on London buses and the underground. What do you think about the U.K. advertising authority banning crypto ads? Let us know in the comments section below. View the full article

U.S. Senator Elizabeth Warren has called on regulators to clamp down on decentralized finance (defi) and stablecoins “before it’s too late.” She said: “Defi is the most dangerous part of the crypto world … it’s where the scammers, the cheats, and the swindlers mix among the part-time investors and first-time crypto traders.” US Senator Urges Regulators to Clamp Down on Defi and Stablecoins During a hearing of the Senate Banking, Housing, and Urban Affairs Committee Wednesday, U.S. Senator Elizabeth Warren (D-Mass.) called on regulators to “clamp down” on stablecoins and decentralized finance (defi) platforms “before it is too late.” She brought up stablecoins tether (USDT) and usd coin (USDC). In response to Senator Warren, Alexis Goldstein, director of financial policy at Open Markets Institute, explained that stablecoins “may not always be backed one-to-one … as the assets backing those tokens are often not real dollars.” Warren pointed out that based on Tether’s own report, “only about 10% of the assets backing its stablecoin are real dollars in the bank. 90% is something else — not real dollars.” In addition, she stressed that the report “is not actually verified by a comprehensive audited financial statement or verified by any government regulator.” While noting that “stablecoins are not always stable,” Warren described: “It’s worse than that. In troubled economic times people are most likely to cash out of risky financial products and move into real dollars. Stablecoins will take a nosedive precisely when people most need stability, and that run-on-the-bank mentality could ultimately crash our whole economy.” The senator detailed: Defi is the most dangerous part of the crypto world. This is where the regulation is effectively absent and — no surprise — it’s where the scammers, the cheats and the swindlers mix among the part-time investors and first-time cryptotraders. Shoot, in Defi someone can’t even tell if they are dealing with a terrorist. She continued: “Stablecoins provide the lifeblood of the Defi ecosystem. In Defi, people need stablecoins to trade between different coins, to trade derivatives, to lend and borrow money – all outside the regulated banking system. Without stablecoins, Defi comes to a halt.” During the hearing, Hilary Allen, professor at the American University College of Law, answered questions about whether stablecoins pose risk to the U.S. financial system. Warren asked the professor, “Does Defi threaten our financial stability? And can Defi continue to grow without stablecoins?” Allen replied: “I don’t think Defi can grow without stablecoins. I think it would struggle. Right now, I think Defi is contained to the point where it won’t impact financial stability, but if it grows, I think there’s a real threat there. Particularly if it becomes intertwined with our traditional financial system, and there is industry interest in pursuing this integration on both the traditional finance and the crypto side. So, I think it’s critical that stablecoins not be allowed to fuel that growth.” Emphasizing that “Stablecoins have no regulators, no independent auditors, no guarantors, nothing. And they are propping up one of the shadiest parts of the crypto world — the place where consumers are least protected from getting scammed,” Senator Warren concluded: This is risk to traders … to our economy. The time to act is before it all blows up … Our regulators need to get serious about clamping down on these risks before it is too late. What do you think about Senator Elizabeth Warren’s comments? Let us know in the comments section below. View the full article

As both fractional and traditional non-fungible tokens (NFTs) have seen exponential growth this year, the firm Otis has announced the launch of a marketplace called Otis House. The platform is a new NFT project that turns physical items into NFTs, and the tokens can be traded at any time for the physical items stored in a vault. The platform has launched the auction of six assets that include a vintage Super Mario Bros 3 video game and a rare Bob Ross painting. Otis House Aims to Bridge NFTs and Physical Collectibles While NFTs have been a hot subject in 2021, Bitcoin.com News has reported on a number of interesting projects that use NFT technology in a different way. For instance, Bitcoin.com News spoke with the popular American rapper Ja Rule in September about his startup Flipkick.io, a platform that leverages both physical and digital NFTs from artists, celebrities, and creators who want to monetize their work. Our newsdesk has also discussed fractional NFTs on a few occasions and highlighted four projects dedicated to divisible NFT tech. One of the startups featured in the article among Unicly, Fractional, and Daofi is the company Otis. Otis has announced the launch of Otis House which aims to offer a different method of non-fungible token technology because the NFTs are tied to real-world items. Otis has offered NFT auctions in the past and on July 29, Otis introduced a limited edition NFT collection by the recording artist Grimes. The new NFT auction platform “turns rare [and] physical collectibles into NFTs, [and] NFTs purchased through Otis House can be traded in at any time for the physical item.” Otis House claims to offer a bridge between NFTs and physical collectibles. Essentially, a collector sends a physical item to Otis House and the item is stored, authenticated, and insured in a vault. Following the vault process, which has to be an item valued at more than $5,000, Otis will mint an NFT to represent the vaulted collectible. Otis says that auctions will happen on the platform regularly and at any time, the owner with an authentic NFT can trade the digital item for the physical collectible. “Otis will destroy the NFT and ship the collectible to the owner,” the company’s announcement on Wednesday details. 1971 Bob Ross, Super Mario Bros. 3, Lebron James Rookie Card Currently, Otis House has six collectible assets that are up for auction. The collectibles include a 1993 Simpsons Matt Groening DeBart card (PSA 9), a 2003 Topps Chrome Lebron James Rookie card (PSA 10 Gem Mint), a Pokémon Yellow Gameboy video game (Wata 9.4) Special Pikachu Edition, a Nintendo Super Mario Bros. 3 (Wata 9.6), and a 1971 Bob Ross painting. Currently, the auctions have more than four days left to close at the time of writing. The Pokémon Yellow Gameboy video game currently has a bid for 1.2 ETH worth around $4,878 at press time. According to Otis, anyone can submit a collectible with a value above $5K and all items will be stored in temperature and humidity-controlled vaults in either Delaware or New York City. “Owners can list and sell the item via auction, take out a loan against the NFT, or a group of buyers can Partybid or create a DAO to co-own the item together,” the startup’s website details. “Buyers can redeem the NFT to possess the physical item where we will ship it, they can sell it again on the marketplace, or fractionalize it. The possibilities are endless.” What do you think about the Otis House launch and the ability to mint and trade NFTs with physical collectibles? Let us know what you think about this subject in the comments section below. View the full article

Whether you are an experienced card game player, a fan of collectibles, or just getting into NFTs, Spellfire Re-Master the Magic is a game to keep your eyes firmly trained on. The creation of a group of crypto developers, Spellfire is a blockchain-based collectible card game (CCG) that finally gives ownership back to its players, in the form of NFT-based cards. However, they also know that the nostalgic feeling many fans get from physical cards is an essential part of the experience, so the game has been designed to seamlessly blend real-world printed cards with their digital equivalents. As it stands, Spellfire is a comprehensive package that manages to pack 30 years of history into a CCG fit for the gamers of today. Regardless of whether you feel most comfortable at a tabletop or in front of your monitor, there will be a method of play to call home. Recent interest in Spellfire has seen its fanbase grow rapidly, and its team now has the happy problem of onboarding hundreds of fans eager to learn more. This week saw the release of the project’s gameplay explainer, which talked viewers through the basics, from character types to each unique phase of gameplay. Those interested in building their first deck of cards will be pleased to learn that future plans include the possibility of earning free starter decks by participating in Discord community events. Gaming NFTs Show Their True Potential The potential of gaming NFTs is starting to come to fruition. In November, users spent 71% more on NFT game items, and Play-to-Earn games now account for close to 50% of all blockchain activity. Gaming NFTs have now been responsible for a staggering $1.08 billion of NFT trading volume. This brings us to Spellfires NFTs. In an industry that is constantly shifting, with new developments being witnessed every day, Spellfire’s physical NFTs remain unique in the space. They are touchable, with each NFT card seamlessly blending its digital form with a physical equivalent. Each cards value and power can be increased by gaining experience in-game and upgrading them with Spellfire’s currency, MAGIC tokens. Finally, special augmented reality cards help to create a unique sense of immersion via spectacular visuals, gestures and voice commands. Opensea currently has 115 Prime Edition cards available to purchase, and a brief glimpse of what the lucky owners of the game’s physical cards can expect to receive has recently been released. The first thing to note is how strikingly detailed each illustration is. The artists have clearly enjoyed the creative freedom they were afforded for this first release, and one can only imagine where they will take things from here. Original NFT Cards have been treated with holographic foil for a final flourish, and the cards are expected to have broad appeal to both gamers and collectors alike. Not Just Digital Collectibles Spellfire’s NFTs are so much more than digital collectibles. Although it has been built on the technology of today, at its core, it preserves the same feeling that brought in legions of CCG fans in the early ‘90s. Great importance has been placed on retaining the satisfying experience of building a strong deck, implementing a smart gameplan, and outsmarting an opponent in battle. The team has ensured that there will be no shortage of reasons to keep coming back for more. In addition to the Play-to-Earn features detailed below, players can compete in high-stakes ranked gameplay against highly skilled opponents. By staking their NFT cards and MAGIC tokens, victorious players can take home even greater winnings. Play-to-Earn Done Right As you would expect from a CCG firmly positioning itself in the Play-to-Earn space, players can expect to generate income from their favorite cards and by playing the game they love. Buyers of Original NFT Cards earn passively through additional sales of their cards, retaining up to 90% of all profits. Once a non-NFT card has been upgraded enough, it becomes a Playing NFT Card, giving the owner the ability to use the Play-2-Earn systems. 128,000,000 $MAGIC kept for distribution to Spellfire’s community through tournament play and in-game achievements. Although Spellfire is yet to release, development is proceeding at a steady pace. When it becomes available for the public to play, CCG players around the world will have a new game to obsess over, built exclusively with them in mind. By introducing exciting new gameplay, and unique card mechanics that won’t be found elsewhere, Spellfire is ready to set the world on fire. Join Spellfire’s magical universe, or head over to Opensea to get your collection underway. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The legendary former professional basketball player Michael Jordan and his son Jeffrey Jordan have revealed they are getting into blockchain and Web 3.0 technology, according to an announcement published on December 15. The father and son duo’s first tech venture is called Heir Inc., a platform that aims to connect loyal fans with popular athletes. Furthermore, Jordan’s tech platform aims to launch a token called “heir” built on the Solana blockchain. Jordan Duo to Launch Heir Platform in 2022, Heir Token to be Built on Solana Michael Jordan and his son Jeffrey Jordan have announced their first tech product called Heir and the startup recently closed the company’s first $10 million seed round led by Thrive Capital. Furthermore, the seed financing investments for Heir Inc. stemmed from Solana Ventures, Chicago Bulls guard Lonzo Ball, William Wesley the executive vice president and senior basketball adviser for the New York Knicks, and the tech entrepreneur Alexis Ohanian. The press announcement sent to Bitcoin.com News says Heir is a “next-generation holding company that will build culturally-inspired consumer brands rooted in tech and entertainment.” While Solana Ventures invested in Heir, the new tech platform crafted by the Jordans will also leverage the Solana blockchain network to issue an “heir” token. The announcement notes that “[Heir] supporters will have the opportunity to purchase one-time digital assets or to join their ‘huddle,’ powered by blockchain technology, for exclusive drops, digital goods, immersive experiences, and more.” Basically, popular athletes will have VIP “seats” set aside exclusively for passionate fans who can leverage Heir tokens and access to “intimate first-person” non-fungible token (NFT) drops. “What Heir Inc. is developing is purpose-built for a new era of athlete enterprise, opening the door for richer storytelling and deeper consumer engagement,” Jeffrey Jordan explained in a statement. “The Jordan name has cultivated a loyal community for more than 35 years; the focus now is passing that legacy on to the next generation. We hope to continue to build and invest in businesses that bring that same reverence to the media and tech space.” Heir Aims to Target Generation Z and Millennial Fans The announcement says the Heir platform will launch in 2022 and the project is designed for generation Z and millennial fans. Heir’s next-generation holding company will be led by Jeffrey Jordan, Jeron Smith, and Daniel George. “We envision Heir becoming the platform that will help cultivate the future of athlete meta-brands,” Heir Inc. co-founders George and Smith explained. “Dedicated supporters are at the heart of the platform, and they’ll benefit from early adoption ownership and unmatched access to their favorite athletes.” The co-founders added: Through marketplace engagement and tech-enabled activations, our platform unlocks the underserved monetization of fandom. We are excited to offer creators a wider range of engagement tools to reach passionate supporters, especially Gen Z and millennials, in new ways. Concepts like non-fungible tokens (NFTs) and blockchain technology have been very attractive to sports-related firms in 2021 and during the last two weeks, Nike and Adidas have entered the NFT and metaverse space. The Flow blockchain-based NFT collectibles NBA Top Shot have seen $750.4 million in all-time sales and is the fourth largest NFT marketplace in terms of all-time sales, according to dappradar.com stats. What do you think about Michael and Jeffrey Jordan’s Heir platform announcement? Let us know what you think about this subject in the comments section below. View the full article

On Wednesday, the non-fungible token (NFT) marketplace Rarible announced that the platform now supports the Tezos blockchain network. The move follows Rarible’s integration with the Flow blockchain protocol in mid-November, and the NFT marketplace now supports a total of three blockchain networks. 8th Largest NFT Marketplace Rarible Adds Tezos Support Rarible says it has expanded its multi-chain compatibility as it now supports a total of three blockchains which include Ethereum, Flow, and now the Tezos proof-of-stake (PoS) blockchain. The strategic alliance with Tezos allows Rarible to provide users the ability to “mint low fee and energy-efficient NFTs, and support secondary sales of projects live on the Tezos ecosystem,” the company’s announcement explains. Rarible is the eighth largest marketplace in all-time sales, according to dappradar.com statistics, with $260.45 million in sales across 88,258 traders. The NFT marketplace originally started its services leveraging the Ethereum network but in mid-November, Rarible launched support for the Flow blockchain. The team revealed intentions to create multi-chain compatibility at the end of June, after Rarible raised $14 million from investors. Rarible’s announcement details that the “Tezos ecosystem has gained significant traction from leading brands, artists, creators, and sport franchises as the place to mint low cost and energy-efficient NFTs.” The Tezos blockchain recently made headlines when video game giant Ubisoft revealed an NFT platform built with Tezos. Ubisoft, the owner of the game franchises “Assassin’s Creed,” “Prince of Persia,” “Rabbids Invasion,” and “Just Dance,” recently released collectibles called “Digits.” Secondary Support for Ubisoft’s Digits Rarible details that secondary support for Ubisoft’s Digits will be added. “Through this collaboration, Rarible will immediately support secondary sales for Digits: NFTs originating from legacy video game company Ubisoft’s recently launched NFT platform on Tezos. Digits are high-quality, in-game collectibles with active utility value for players, and the first energy-efficient NFTs playable in AAA games made possible through Tezos’ PoS network,” the company explains. Rarible’s announcement adds: In celebration of this exciting integration, Rarible and Tezos will also launch an inaugural collection, Blazing Futures, curated by Diane Drubay. Blazing Futures is a drop featuring work from ten Tezos-based artists that will be available exclusively on Rarible starting today. Rarible will join the NFT marketplace Hic et nunc, which also sells Tezos-based non-fungible token collectibles and is operated by the community after the founder left. Hic et nunc’s sales have declined since the recent transition but the marketplace still managed to process $53.05 million in all-time sales among 53,711 traders. In addition to Rarible and Hic et nunc, Tezos also has the NFT markets Objkt.com and Kalamint. Just before the Tezos integration, Rarible launched a messaging application on November 29. What do you think about Rarible adding Tezos support? Let us know what you think about this subject in the comments section below. View the full article

On December 14, Moonray PBC, the developer behind the multiplayer action-role-playing game (RPG) Moonray, announced that the project has raised $3.5 million from strategic investors. Moonray is considered the first metaverse and gaming non-fungible token (NFT) exchange built on the Bitcoin network via Stacks. Moonray PBC Leverages Stacks to Build a Blockchain Game on Bitcoin, Project Raises $3.5 Million From Strategic Investors Play-to-earn (P2E) games, non-fungible tokens (NFTs), and the metaverse have become very popular in recent times. There’s been a massive amount of funding directed at projects developing video games and new ventures being launched by big-name game makers. A report published in mid-November shows that game developers are starting to incorporate blockchain tech into games more frequently. On Tuesday, the startup Moonray PBC announced that the team has raised $3.5 million in a funding round led by Animoca Brands. The funds will be dedicated toward scaling the Moonray multiplayer action-RPG, an NFT marketplace, and in-game economy. In addition to Animoca Brands, investors such as LD Capital, Lucid Blue Ventures, GBV Capital, and Metavest Capital joined the Moonray financing round. Unlike the myriad of blockchain games built on networks like Ethereum and Solana, Moonray is built using the Bitcoin (BTC) protocol through Stacks. “Stacks is an open-source blockchain network that leverages the security and capital of Bitcoin for decentralized apps and smart contracts,” the Stacks website explains. According to Rodrigo Etcheto, CEO of Moonray PBC, bitcoin (BTC) will be an integral part of the Moonray gaming ecosystem, with the ability to earn bitcoin yield and Lightning Network integration. “Building a game in the metaverse is more than just putting something in VR or AR, there has to be an economy where players can have a real financial stake in the things they own,” Etcheto said in a statement on Tuesday. “Players have found roundabout ways to trade digital items in the past and we are trying to make it easier for players to exchange and sell items with one another.” The Moonray PBC executive added: When our marketplace is fully-operational we will feature Lightning Network integration, [bitcoin] payments, and NFTs that have the ability to earn [bitcoin] yield. Moonray Plans to Launch in March 2022 The game Moonray and the Moonray NFT marketplace aim to launch with select players around March 2022, according to the funding announcement. The funding from Animoca Brands follows Animoca’s partnership with the popular NFT project Bored Ape Yacht Club (BAYC). Animoca Brands and BAYC’s creators, Yuga Labs, plan to launch a play-to-earn (P2E) blockchain game based on BAYC NFTs next year as well. Yat Siu, the executive chairman and co-founder of Animoca Brands, believes blockchain games are transforming the industry and that Moonray will be part of the shift. “Blockchain games are evolving rapidly. Moonray is at the vanguard of this change, building a far-future RPG experience that will be unlike anything that most players have ever seen on blockchain,” Siu opined in a statement sent to Bitcoin.com News. “We are very excited by the potential that Moonray is demonstrating as it builds this ambitious multiplayer AAA experience.” What do you think about Moonray PBC raising $3.5 million from investors like Animoca Brands and Lucid Blue Ventures? Let us know what you think about this subject in the comments section below. View the full article

Shopping․io, the very first E-commerce platform that allows users to purchase from major hubs using over 200 cryptocurrencies, is now proud to expand the catalog of products and to launch their very own NFT collection: the Shopverse. On December 3rd, Shopping․io announced their incredibly daring and adventurous journey into the Metaverse with the introduction of their genesis NFT line – Shopverse! This will also be the first ever NFT to add benefits when you shop at major e-commerce hubs online, such as Amazon, eBay, Walmart, and Home Depot. The NFT will serve as your pass to explore a virtual world behind Shopping․io and will show how a modern shopping mall can be constructed in the mysterious world of the Metaverse. Find adventure, exploration, and a thriving nightlife as Shopping․io walks beside you in one of the biggest events to ever hit the online world of E-commerce. Shopping․io is building an experience unlike any before by allowing NFT holders of their genesis collection to rent out customizable storefronts in the early stages of the metaverse. The metaverse poses itself to be some of the most highly trafficked areas of all time with hundreds of thousands of people coming to make friends and explore virtual worlds daily. For companies and consumers alike – this is the perfect opportunity to own a store in an ever expanding virtual world. Shopping․io is a company founded by veterans of the E-commerce world. Come join 100K community users in real time while building the future together and enjoy some of the many benefits of holding a Shopverse NFT. What are the benefits Shopverse NFT holders get to enjoy? There will be a massive utility for Shopverse users with many benefits, including: Special access to a daily deals section on Shopping․io NFT holders gain access to Shopping Auctions an exclusive feature on Shopping․io NFT holders get beta access to Shopping concierge NFT holders get an additional 1% discount on Shopping․io NFT holders gain access to a special 24-hour whitelist period for selected exclusive Shopping.io NFT collections Giveaways Access Full commercial rights to your NFT Invitations to exclusive metaverse parties together with other metaverse communities. And this is only the beginning. Shopverse is a fantastical adventure into the genesis collection by Shopping․io with real world shopping utility which gives discounts benefits on major hubs such as Amazon, eBay, Walmart and Home Depot. Shopverse launched as a fixed set of 7,777 items and became the first utility NFT that combines virtual and physical utilities to its holders. “We are building the first e-commerce platform empire in the Metaverse and we invite you to be a part of it!” said Arbel Arif, Shopping.io CEO Mint a Shopverse NFT now at: https://mint.shopping.io/ In addition, if you have property you would like to offer for the Shopverse storefront, Shopping.io is exploring several partners. Shopping.io is also looking to partner with other Metaverse projects who want to host their own stores in the Shopping.io Metaverse Mall. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article