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While the Central Bank of Nigeria (CBN) continues to tout the e-naira’s credentials as a tool for fostering financial inclusion, some experts agree that this central bank digital currency (CBDC) is presently not doing this. The CBDC’s Chaotic Start This assertion as well as the e-naira app’s brief removal from Google Play Store appears to lend credence to claims the CBN may have rushed to launch what is in fact Africa’s first CBDC. Although a report by the Punch newspaper suggests that the CBN is now working towards the release of a version of the e-naira app for the unbanked, it still does not state when this is likely to be available. It is this apparent by the CBN that has left players in Nigeria’s blockchain industry questioning the central bank’s ability to manage this CBDC. As one crypto expert quoted by Cryptoassetbuyer explains, this failure by the CBN to roll out a digital currency that is accessible to all Nigerians means the central bank is unlikely to achieve its main goal of bringing financial services to Nigeria’s unbanked population. The expert, Chiagozie Iwu, the founder of Naijacrypto and CEO of CI Cryptosolutions, explained: Firstly, the app requires me to use my bank’s app before I am able to transact with it; so what service does it offer me that my banks don’t already offer? So it doesn’t look to me that the CBN is targeting people that do not have a bank account. Obviously, anybody with a smartphone to download an app should also have a bank account in the first place. The fact that I have to use my bank account to log in defeats the saying that they are going to “bank the unbank.” Although the CBN repeatedly promised that its e-naira wallet would be available to non-smartphone users to transact with the digital currency, at the time of writing this service was still not available. The CBN’s Trust Deficit Meanwhile, in addition to its non-availability to feature phone users, the e-naira app could well be a product of haphazard planning, according to Iwu. While conceding that the e-naira app — just like other applications — may have a few “bugs” Iwu suggested that this could have been avoided had the CBN properly used the funds that had been set aside for the project. Another expert, Charles Okaformbah, the CTO at Convexity, suggested a beta test could have prevented the CBN from releasing the faulty app. The report quotes Okaformbah explaining: I think that if the app developers had done a lot of tests — say close testing of the application with some selected group of people outside the development team — I believe some of the issues would have been noticed and fixed. Economist, Lloyd Onaghinon, thought the collaboration between the CBN and players in the Nigerian blockchain industry could have resulted in a much better final product. In its conclusion, the Cryptoassetbuyer report states that there is a noticeable trust deficit and that the onus is on the CBN to fix this. Do you agree that the CBN may have rushed rolling out its CBDC? Tell us what you think in the comments section below. View the full article

Mythical Games, a blockchain-based gaming company, has raised $150 million in its series C funding round. The round was led by A16z, who is aggressively investing in these kinds of crypto initiatives. It also had the participation of other companies like D1 Capital, Redbird Capital, The Raine Group, as well as from well known cryptocurrency exchanges like Binance and FTX. Mythical Games Gets Unicorn Status in Latest Funding Round Mythical Games, a blockchain gaming company, raised $150 million in its latest funding round, which was led by VC company A16z. Other backers included D1 Capital, Redbird Capital, and The Raine Group. From the cryptocurrency exchange side, the funding round attracted the attention of Binance and FTX as well. This series C put Mythical games over the level of a unicorn company, reaching a valuation of $1.25 billion. The rise of Mythical and other similar gaming initiatives signals the interest and validity that the market has given these new technologies. This funding round comes on the heels of Mythical Games’ last funding round, which happened four months ago as it raised $75 million. Mythical Games’ proposal is considered interesting because it has developed an engine that allows other companies to include blockchain aspects in games that are already under heavy development. The name of this tool is the Mythical Platform, and it also supports the construction of gaming experiences from the ground up. Mythical Games stated that most of the funds received will be used to continue growing its team and scaling it up to bring more developments to use this tool. A16z on a Blockchain Investing Spree A16z, the known venture capital company, has been very active in putting funds behind startups involved in the blockchain gaming industry. Just last month, A16z was involved in the latest funding round of Axie Infinity, the play-to-earn blockchain game built on Ethereum. The company led the funding round, which raised $152 million and gave the game a valuation of $3 billion. In the same way, Yield Guild Games, a guild group that specializes in extracting value from play to earn experiences, got a fund injection by A16z, which led its $4.6 million funding round last August. A16z also led the $100 million series B funding round for Opensea, a leading NFT marketplace on top of the Ethereum blockchain in July. What do you think about Mythical Games’ latest funding round? Tell us in the comments section below. View the full article

PRESS RELEASE. The world’s largest metaverse on blockchain and NFT platform TCG World announces partnership with a stock giant WallStreetBets. Since the start of the year, the WallStreetBets movement has been defying traditional finance with a legion of retail investors using decentralized tradable assets on the blockchain to advance the ethos of financial democracy. Now, the giant online retail investor group that shook the stock markets with the GameStop frenzy is betting big on the metaverse through a partnership with TCG World. What is TCG World? TCG World is the largest open world metaverse on Binance Smart Chain. It follows a play-to-earn approach and has its own story that progresses as a user spends more time in the game. In TCG World users can invest in virtual real estate, hunt for NFT collectibles, earn TCGCoin 2.0, or start their virtual career while exploring the metaverse. TCG World incorporates thousands of different collectible NFTs that can be sold or traded on the TCG World marketplace. Everything that a player buys/owns in the game is an NFT from virtual real estate, vehicles, pets to player avatars, and trophies. The pièce de résistance being the 800 square kilometers virtual world that is divided into 100,000 virtual plots up for grabs. Anyone can purchase one of these virtual pots and build on it in preparation for a mainstream uptake of the metaverse. The gaming side to the ecosystem entails an online collectible game where users get to collect and populate their virtual worlds with mythical NFT creatures scattered across the metaverse. Certain NFTs found in the metaverse can be valuable due to their rarity in production and utility in game. These creatures, called Sprites, range from flying horses to baby dragons and eggshell monsters that can be sold, traded, bred or evolved for PVP battles in the TCG World arenas. The WallStreetBets (WSB) Partnership WallStreetBet’s founder Jaime Rogozinski has been working with TCG Gaming behind the scenes for the past 4 months to help TCG create a unique metaverse experience for their community. Rogozisnki brings to the table a wealth of experience in building and developing online communities, given that he founded WallStreetBets in 2012 and has seen the online retail investor group grow to a membership of over 700,000 investors. Rogozinski is also a serial entrepreneur with expertise in launching tech and finance-related companies. WallStreetBets has already purchased a parcel of land in the TCG World metaverse and hopes to inspire investors in the WSB community to get on board the metaverse train. David Evans, CEO of TCG Gaming said: “We are very excited to welcome both WallStreetBet Communities into our metaverse. Our vision is to create a virtual world where users are empowered to learn, earn, create and socialise. The addition of WallStreetBets and their community will play an important role in shaping the future of how we socially connect in our TCG World metaverse.” WallStreetBets’ Facebook group is also partnering with TCG World to further develop the metaverse. Together, the two WSB groups bring onboard a collective number of over 1 million retail traders to the virtual world. Conclusion: Establishing The Future of the Metaverse The Metaverse is making the impossible possible with the aid of blockchain technology and NFTs. With partnerships such as the one formed between the two WallStreetBets groups and TCG, it is clear that we are witnessing an exodus of retail investors out of traditional finance and into the metaverse. As Rogozinski puts it, “a truly decentralized Web 3.0 metaverse based internet will solve the centralized monopoly and manipulation issue that plagues the current state of the internet”. At its core, the metaverse is set to be the next evolutionary step of the internet that will bring to life a virtual world where people from all parts of the world connect, interact, play and work online. Already, the TCG Gaming team aims to introduce other aspects to its metaverse apart from gaming, where users will be able to work and make a living in TCG World. There is already an uptake of virtual real estate with the presale platinum and diamond land parcels selling out. TCG Gaming now plans to release the presale gold plots of land in its metaverse on 4th November 2021. Website https://tcg.world/ Telegram https://t.me/TCGGaming Twitter https://twitter.com/OfficialTCGCoin Medium https://medium.com/@TCG_World Wallstreet bets: https://www.wsbdapp.com/ This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Electronic Arts (EA), an important gaming and entertainment-oriented company, has made insightful remarks about the importance of NFTs and the play-to-earn model in its last earnings call. Andrew Wilson, CEO of the company, addressed the subject in response to several questions posed by business analysts. Electronic Arts Open to NFTs and Play-to-Earn Electronic Arts, the company behind gaming sports franchises like FIFA and NBA, has assessed the importance of new technologies like NFTs and the play-to-earn model for the gaming industry. During the company’s latest earnings call, Andrew Wilson, Electronic Arts’ CEO, stated that while the conversation around NFTs and play-to-earn was still very early, these cannot be ignored as an important part of what might be to come in the industry. When asked about the negotiation for the FIFA license, Wilson stated: When we kind of interact with our hundreds of millions of football fans… they want more modalities at play inside the game, which go beyond just straight 11 on 11 football. They want more digital experiences outside the game, esports, NFTs broader sports consumption and they want us to move really, really quickly. Wilson’s remarks point out that the technology in gaming is moving at incredible speeds, with fans wanting more and more involvement in the ownership of these virtual worlds and the experiences associated with them. Answering another question from an analyst, Wilson recognized the validity of these new trends for upcoming innovations in the mainstream gaming arena. Wilson stated: The play-to-earn or the NFT conversation is still really, really early… there’s at some level, a lot of hype about it. I do think it will be an important part of the future of our industry on a go-forward basis. But it’s still early. NFTs as Collectibles NFTs have had tremendous success as part of digital collections that appeal to the traditional collector, but also to newcomers to the environment. There are examples of this happening in the industry. One of them is the NBA Top Shots franchise, which helps fans treasure the most memorable shots from their favorite players, taking collectibles to the next level. Last May, the app had already crossed the million user mark. This kind of engagement is what is driving traditional companies to these new technologies. Electronic Arts is not alone. Ubisoft has also given statements about the importance of NFTs for the future of the industry and is actively investing in companies like Animoca Brands, that develop blockchain-based games. What do you think of the Electronics Arts CEO’s statements on NFTs and play-to-earn? Tell us in the comments section below. View the full article

New York City Mayor-elect Eric Adams says that he will take his first three paychecks in bitcoin. He has also promised to make NYC the center of crypto. “NYC it’s going to be the center of the cryptocurrency industry and other fast-growing innovative industries,” he said. Eric Adams’ Bitcoin and Crypto Promises New York City Mayor-elect Eric Adams said he wants to turn NYC into a crypto-friendly city and will also take his first three paychecks in bitcoin. Replying to a tweet made by Miami Mayor Francis Saurez that he will take 100% of his next paycheck in bitcoin, Adams wrote: “In New York, we always go big, so I’m going to take my first three paychecks in bitcoin when I become mayor.” He added: “NYC it’s going to be the center of the cryptocurrency industry and other fast-growing innovative industries.” Many people on Twitter see Adams’ statement as very bullish. At the time of writing, his tweet has been liked 14.1K times and retweeted 2,906 times. Many simply tweeted “bullish” in response. Galaxy Digital CEO Mike Novogratz wrote, “I love NY.” Angel investor Balaji Srinivasan tweeted: Impressive. With a greenlight from the mayor, we might allow any city employee to take some of their salary in BTC. And repeal the Bitlicense to make NYC more competitive on web3. Adams has also waged a “friendly competition” with Mayor Suarez, who is actively trying to turn Miami into a bitcoin hub of the U.S. and the world. Suarez has also been re-elected as the mayor of Miami. In an interview with Bloomberg Wednesday, the NYC mayor-elect explained that Suarez “has a Miamicoin that is doing very well.” He added: “We’re going to look in the direction to carry that out.” Adams further promised to “look at what’s preventing the growth of bitcoin and cryptocurrency in our city.” In June, Adams made a promise to his supporters: “In one year, one year, you’re going to see a different city … We’re going to bring businesses here. We’re going to become the center of life science, the center of cybersecurity, the center of self-driving cars, drones, the center of bitcoins. We are going to be the center of all technology.” What do you think about Eric Adams’ promise to make NYC a crypto center and saying he will take his first three paychecks in bitcoin? Let us know in the comments section below. View the full article

The Nasdaq-listed crypto exchange Coinbase has made shiba inu cryptocurrency available to New York residents, who can now trade, buy, sell and store SHIB on Coinbase. This announcement follows the exchange adding SHIB trading pairs. Coinbase Grows Its Shiba Inu Crypto Offerings Cryptocurrency exchange Coinbase announced Friday that the shiba inu (SHIB) cryptocurrency is now available to residents of the U.S. state of New York. Coinbase tweeted Friday: It’s official, SHIB is now available to trade, buy, sell and store on Coinbase for NY residents. This announcement follows Coinbase adding some SHIB trading pairs. The official Twitter account for Coinbase Pro tweeted Wednesday: SHIB-EUR & SHIB-GBP order books are now in full-trading mode. Limit, market and stop orders are all now available. The price of SHIB soared Friday after dipping the previous day. At the time of writing, SHIB has risen 21% in the past 24 hours and 261% in the past 30 days. Over the past week, the coin fell almost 9%. SHIB recently flipped rival dogecoin (DOGE) and became the world’s ninth largest cryptocurrency. At the time of writing, dogecoin has gained back its ranking and SHIB is now the 10th largest crypto by market cap. On Monday, cryptocurrency exchange Kraken tweeted indicating that SHIB would be listed for trading on its platform starting Tuesday. However, the exchange did not come through and SHIB is still not listed on Kraken. “Community is an important part of our considerations for all listings, and you have clearly shown your support. There’s more work for us to do as we move through our listing review process,” Kraken tweeted after it failed to list SHIB Tuesday. What do you think about Coinbase growing its SHIB offerings? Let us know in the comments section below. View the full article

While bitcoin has been consolidating for a few days now, a number of other digital assets have seen solid seven-day gains. The two metaverse tokens sandbox and decentraland have skyrocketed over 170% during the last week. Crypto assets like loopring, crypto.com coin, and arweave have spiked in value more than 66% and up to 169% this week as well. Sandbox, Decentraland, Loopring See Triple-Digit Gains This Week The price of bitcoin (BTC) has consolidated above the $60K zone for a while now and market performance this week has been rather lackluster. While bitcoin (BTC) gained 0.5% during the last seven days, three top-ten cryptos saw double-digit gains this week. The third-largest market in terms of overall valuation is held by binance coin (BNB), which is up 24.1% this past week and swapping for $610 per BNB. Solana (SOL) swapping for $235 per unit is up 20.9% this week. Additionally, polkadot (DOT) has climbed 21.9% and is currently changing hands for $51.29 per unit. While binance coin, solana, and polkadot saw double-digit spikes this week, sandbox, decentraland, and loopring prices soared this week. Sandbox (SAND) spiked 175.3% and decentraland (MANA) jumped 172.9% in value. During the course of the week, loopring (LRC) lifted by 169.4%. SAND is ranked number 78 out of the crypto economy’s 10,390 coins as the crypto asset has gained 8,039% year to date. Similarly, decentraland (MANA) has done extremely well during the last 12 months spiking 3,931% year to date. 12-month statistics for loopring (LRC) show the cryptocurrency is up 1,025% over the last 12 months. Numerous Double-Digit Crypto Gainers — Bitcoin Dominance Close to Sinking Below 40% Following those three-digit crypto gains, crypto.com coin (78.6%), arweave (66.2%), kadena (64.4%), holo (41.3%), chiliz (40.8%), basic attention token (39.4%), amp (39%), NEM (33.9%), omg network (31%), enjin coin (28.4%), and wonderland (25.1%) saw double-digit gains this past week. The overall market capitalization of all 10,000+ coins in existence today is nearing $3 trillion at approximately $2.835 trillion on Friday, November 5. While there’s $152.28 billion in global trade volume, $83 billion of that volume is paired with stablecoins. Tether (USDT) commands $71.9 billion of today’s $83 billion aggregate total trade volume. Out of the $2.835 trillion in value recorded on Friday, bitcoin’s (BTC) dominance is just above the 40% region with 40.6%. Ethereum, on the other hand, has 18.7% and numerous alternative crypto caps have increased dominance percentages. What do you think about the past week’s crypto market action? What do you think about the triple and double-digit cryptocurrency gainers this week? Let us know what you think about this subject in the comments section below. View the full article

CoinMarketCap, the leading authority on real-time cryptocurrency prices and data, has just updated and verified its TON Crystal (TON) listing. Now TON, the native token of the FreeTON blockchain, ranks among the top 5% of cryptocurrencies by market cap. This has been a year of remarkable development for the FreeTON project. The project started when Telegram was forced to halt the plans it had for launching its own TON blockchain network and associated token. Instead of letting the network go to the wayside, a community of people that believed in the value of the technology decided to try and launch it themselves by taking a grassroots approach to funding and a decentralized approach to governance. The result is FreeTON, a network capable of processing millions of transactions per second, with cheap transaction fees, formidable security, a meritocratic token distribution protocol and a decentralized governance structure. Around the original, open-source technology a robust ecosystem has flourished, drawing in developers and enthusiasts who believe in the merits of the project. Broxus, one of the development teams working on the FreeTON network, has built a wallet for TON Crystal and a TON Swap DEX powered by TON, where it can be exchanged for a variety of other currencies. In addition, at the end of October the team started the rollout of the DAO protocol for the FreeTON Bridge. The FreeTON Bridge is a multi-network, second-layer solution that links the FreeTON blockchain with that of Ethereum, Polygon, Fantom, Binance Smart Chain and more. The Bridge has given users the opportunity of transferring their assets from the first-layer chain, where transactions are slow and costly, to a newer chain with better scaling capabilities and close to zero fees on transactions. The greater autonomy that the FreeTON Bridge gives users makes it akin in function to a DeFi bank, where users have much more control over their assets and are offered a greater variety of options. As it is a decentralized platform, the community is democratically governed by a DAO comprised of token holders. As the ecosystem continues to expand its capabilities, community members are trying to raise awareness among crypto enthusiasts and the general public about the unique capabilities of the FreeTON platform. Now, with the verified CMC listing, there is an easily accessible hub for general information about FreeTON, including the real-time price of TON Crystal, all the places where you can trade TON and continuously updated metrics on trading volume and market cap. As it is generally the first place users and investors go to monitor the prices of the digital assets they own and the assets they are interested in, TON Crystal’s listing on CoinMarketCap is a significant development for both FreeTON users and the crypto community at large. To remain in the loop on all the latest TON Crystal developments, register with CoinMarketCap and add TON to your watchlist. About FreeTON: FreeTON is a fast, secure and scalable network with near-zero fees, which can process up to a million transactions per second thanks to its unique dynamic sharding technology. As a development built off of the Durov brothers’ original TON concept, the FreeTON blockchain is designed to facilitate the widespread adoption of decentralized solutions by millions of users through an unprecedented combination of reliable security, industry-leading scalability and decentralization. The ecosystem features a number of products, including a DEX and bridges with other blockchains. This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

The Federal Bureau of Investigation (FBI), America’s domestic intelligence and security service, has published a public service announcement concerning fraudulent schemes associated with cryptocurrency ATMs and QR codes. The FBI’s warning, published on November 4, highlights the presence of “scammers” directing their energy at unknowing victims. US Federal Agency Warns of Increase in Crypto ‘Scammers’ On Thursday, the U.S. government entity the FBI published a public service announcement that explains “criminal actors” are maliciously utilizing cryptocurrency automated teller machines (ATMs) in order to compromise victims’ crypto funds. The FBI’s press release stems from the Internet Crime Complaint Center which has seen an “increase in scammers.” “The FBI warns the public of fraudulent schemes leveraging cryptocurrency ATMs and Quick Response (QR) codes to facilitate payment,” the announcement notes. “The FBI has seen an increase in scammers directing victims to use physical cryptocurrency ATMs and digital QR codes to complete payment transactions.” FBI Offers Public Tips to Avoid Fraud It’s not the first time the FBI has issued public warnings in regard to the cryptocurrency ecosystem. During the first week of May, Bitcoin.com News reported on the FBI placing warning signs on crypto ATMs in the U.S., and in mid-July, the federal agency issued an industry-wide warning about possible attacks on exchanges and crypto asset holders. The latest warning from the FBI’s Internet Crime Complaint Center offers a number of tips to protect the average citizen from malicious criminal actors. “Do not send payment to someone you have only spoken to online, even if you believe you have established a relationship with the individual,” the FBI’s press release says. “Do not follow instructions from someone you have never met to scan a QR code and send payment via a physical cryptocurrency ATM,” the federal agency’s warning adds. What do you think about the FBI’s public service announcement regarding the increased presence of scammers leveraging crypto ATMs and QR codes? Let us know what you think about this subject in the comments section below. View the full article

Bitcoin futures open interest continues to remain high after the launch of the first bitcoin exchange-traded fund (ETF) on October 22. While Binance commands $5.81 billion and leads the pack, CME Group holds the second-largest position in terms of bitcoin futures open interest (OI) with $4.1 billion or 16.84% of the aggregate OI. Top Ten Derivatives Platforms Command More Than 97% of Bitcoin Futures Open Interest Bitcoin derivatives have swelled quite a bit in recent times, and following the launch of the Proshares and Valkyrie bitcoin futures ETFs, bitcoin futures have seen significant market action. After Valkyrie’s ETF (Nasdaq:BTF) launched, the analytics group Skew tweeted that CME Group’s bitcoin futures OI reached a new all-time high. During the first week of November, bitcoin futures open interest across all the crypto derivatives platforms is $24.32 billion according to coinglass.com statistics. The top ten derivatives platforms offering bitcoin futures command $23.68 billion or more than 97% of the OI. The cryptocurrency trading platform Binance is the leader in terms of bitcoin futures with $73 billion in global volume among 54 different crypto markets. CME Group’s Bitcoin Futures Open Interest More Than 16% of Aggregate OI In terms of bitcoin futures, Binance holds 5.81 billion in OI which accounts for 23.9% of all the BTC futures positions. Meanwhile, the world’s largest financial derivatives exchange, Chicago Mercantile Exchange (CME) Group, captures 16.84% or $4.1 billion in open interest. Leaving out Binance and CME Group, the top ten crypto derivatives platforms in terms of bitcoin futures OI include exchanges such as FTX ($3.84B), Bybit ($3.63B), Okex ($2.21B), Deribit ($1.49B), Bitfinex ($827.71M), Bitmex ($752.43M), Bitget ($557.5M), and Huobi ($485.59M). Bitcoin ETF Markets Follow Spot Market Trends In terms of crypto derivatives, 627 crypto futures, and perpetuals across the board, FTX holds the second-largest global volume below Binance with $13.4 billion in 24 hours. Furthermore, much like bitcoin’s (BTC) spot market consolidation period, the bitcoin futures ETFs from Proshares (NYSE:BITO) and Valkyrie have followed similar paths. While BITO swapped at a high of $43.28 in October, shares are currently swapping for $39.30. The exchange-traded fund BTF hit a high of $25.25 but is now changing hands for $24.23. What do you think about the bitcoin futures action during the last few weeks following the ETF launches? Let us know what you think about this subject in the comment section below. View the full article

For many people the luxury market is out of reach. However, with LuxFi, that is no longer the case. The platform combines blockchain technology, NFTs, and a luxury goods market open to anyone, anywhere. LuxFi will mark a significant shift in the way luxury goods are traded, and how people acquire them. LuxFi is at the center of this transformation in the market. The platform aims to create a transparent, open and data-driven marketplace where users can safely transact with each other. Let’s break down all the components of LuxFi. Non-Fungible Tokens (NFTs) At the core of LuxFi are non-fungible tokens. An NFT is a type of crypto asset that is meant to reflect uniqueness. They were invented on the Ethereum network with a token design designated ERC-721. The ERC-721 was created first to reflect collectible assets on the Ethereum network. The most famous example is CryptoKitties, which became the most popular DApp on Ethereum in 2017. The ERC-721 token standard quickly migrated to digital art where NFT marketplaces such as OpenSea, Rarible, amongst others, rose into prominence. LuxFi identified an untapped market as luxury goods are unique pieces that often have no way to be compared with each other. They are the ideal physical objects to be transformed into NFTs. LuxFi effectively uses NFT technology to create digital authentication certificates of the physical luxury assets. This process is known as “tokenization” and involves bringing assets from outside the blockchain into the network. LuxFi understands that NFTs are the perfect technology that could positively impact the global luxury market. With Luxfi, each NFT is backed by a luxury asset. The NFT contains all information and history of luxury items on the blockchain. As LuxFi is using product fingerprint technology to tie the physical product with its NFT counterpart, a Product Fingerprint acts as the physical identifier. Tokenization and the creation of NFTs is heavily interlaced with LuxFi’s NFT marketplace, a platform that unlocks the true value and increases the liquidity of real-world luxury assets. The LuxFi NFT Marketplace NFTs give you a way to quickly and safely verify the authenticity of any luxury item, but that’s only the start. People also need a way to transact the various items in a secure marketplace that is transparent and open. LuxFi has designed an entirely original marketplace where the tokenized luxury pieces can be traded. Here, LuxFi is working directly with brands and retailers. The platform creates a unique way for people to buy, sell and invest in luxury assets that are authenticated by brands or professional verifiers, using traditional payments or cryptocurrencies. The new owners don’t necessarily need to redeem the physical products for future reselling, as the NFTs can be transferred multiple times before the final owner decides to acquire the physical items. In this way, investors can quickly trade luxury items to profit without having to worry about shipping, storing, and transferring the physical item. The users can also be sure that they can receive their items if they wish to own the underlying asset. Even more so, LuxFi decided to go with an extra step. The luxury goods market often lacks information regarding prices and valuations. The platform leverages the power of big data to monitor transactions in the market and update the information feeds of the platform. Now, buyers and sellers have access to objective and up-to-date information that will help them make the best choices. The LuxFi marketplace is a complete platform for luxury goods buyers, sellers, investors and collectors. All of the participants will be able to profit from a state-of-the-art space designed to transform the luxury market with the use of blockchain technology. LuxFi $LXF Token $LXF token is the native asset of the LuxFi platform and ecosystem. Users who make use of $LXF are buying into the economic model of the LuxFi platform. As such, the token is a reflection of the state of the services provided by LuxFi. The $LXF token has multiple roles in LuxFi’s expensive ecosystem, such as: Staking: Stake $LXF to join tiered memberships, earn yield and win exciting asset-backed NFT mystery boxes. Authentication: Use $LXF to authenticate the real-world asset. Product Tokenization(NFT): Use $LXF to convert physical assets to NFTs and list on the marketplace. Redemption: Use $LXF to redeem the physical assets. Verification: Use $LXF to verify if the physical item is the original and authenticated asset of the NFT. Providing Data: Earn $LXF for providing data to enhance the data intelligence system. Referral Rewards: Earn $LXF by referring friends and users to the network. Custodian Services: Use $LXF to store the assets in local custody. LuxFi has designed a tokenomics model where all the features of the platform reinforce the value of $LXF. This system is meant to sustain the long-term use of the token, and as the platform expands, so will the utility of the native token. Upcoming IDO/IEO and TGE LuxFi will be doing their launchpad on MantraDAO, Trustpad and Bitmart. These three launchpads will be hosting the platform’s IEO and IDO on November 8th. $LXF token will be listed on UniSwap and BitMart on November 9th. From that moment on, trading can start on public platforms for the entire crypto community. To know more about LuxFi’s upcoming launch, visit the official social media websites listed below. Bridging the Gap Between Luxury Assets and NFTs LuxFi identified a need in the luxury market for a global and data-driven platform that allows secure trading of authenticated items. LuxFi is creating a new business use case for NFTs that goes beyond digital art. NFTs on their platform are the bridge between the physical and the digital to create a friction-free experience in the luxury market. In the near future, asset-backed NFTs could be the new revolution for e-commerce. About LuxFi LuxFi is the world’s first asset-backed NFT marketplace for luxury assets, where people can buy, sell and invest in luxury assets using cryptocurrencies and traditional payments. They are able to eliminate counterfeiting while minting an NFT on a multi-chain blockchain network, with a focus on luxury assets that hold value well and have a high reselling value. They leverage on a big data intelligence system and unique algorithm for automated data collecting and data processing, the value of each NFT on LuxFi platform is backed by real-world data. Website: https://www.luxfi.io Twitter: https://twitter.com/luxfiofficial Telegram Announcement Channel: https://t.me/luxfinews Telegram Official Group: https://t.me/Luxfiofficial Medium: https://luxfiofficial.medium.com Reddit: https://www.reddit.com/r/LuxFiOfficial Youtube: https://www.youtube.com/channel/UCNTeHyVaUX-0OE7kMNXlCOw This is a sponsored post. Learn how to reach our audience here. Read disclaimer below. View the full article

Authorities in Kazakhstan have introduced restrictions on the amounts of cryptocurrency retail investors can buy on local exchanges. Officials explained the decision citing the need to protect private individuals from exposure to the risks associated with digital financial assets. Investors in Kazakhstan Can Buy up to $1,000 in Crypto a Month Without Declaring Income Kazakhstan has adopted limits for crypto purchases made by retail investors on the exchanges registered at the Astana International Financial Centre (AIFC), the local business news portal Capital reported, quoting the Astana Financial Services Authority (AFSA). The publication notes that the respective amendments to the rules governing activities at the financial hub in Nur-Sultan were proposed by AIFC’s Financial Services Regulatory Committee in July and adopted in late October. Commenting on the changes, AFSA emphasized: The limits are introduced to protect the interests of retail investors, since transactions with digital assets are associated with high risks, up to a complete loss of invested capital. The authority has introduced two limits. Without confirming their income and assets, retail investors will be allowed to acquire up to $1,000 a month in cryptocurrency. If they want to purchase more coins they will have to declare their income and assets. In this case, the non-professional investors will be able to spend up to 10% of their annual income, or 5% of their assets, but not more than $100,000. The AFSA further noted that a roadmap for the development of the crypto market in Kazakhstan has been approved and the authority is now taking steps to implement it by 2022. A pilot project for the opening of cryptocurrency exchanges at the financial center in the capital city will be launched toward the end of this year, officials revealed and elaborated: Throughout 2022, crypto exchanges will operate in test mode. At the end of the pilot project, if necessary, changes will be made to the national legislation, as well as to the AIFC acts. According to Arman Konushpaev, vice president of the Blockchainkz Association of Developers and Users of Blockchain Technology, imposing limits on non-professional investors is a global practice. The restrictions will protect them from financial losses when investing in cryptocurrency, including from various fraud schemes, he added. However, Konushpaev also remarked that there are a few options for retail investors to buy and sell cryptocurrencies outside the authorized exchanges operating at the Astana International Financial Centre. Deals can be agreed upon through Telegram channels and Whatsapp chats, for example, or via decentralized trading platforms, he explained. Do you expect Kazakhstan to develop a thriving cryptocurrency market? Tell us in the comments section below. View the full article

Sky Mavis, the company behind the development of Axie Infinity, has launched Katana, the first decentralized exchange for Ronin, its custom-made Ethereum sidechain. Katana will feature all of the tokens used in Sky Mavis’ products, including SLP and AXS, the native tokens of the Axie Infinity ecosystem. This new product will allow users to earn rewards for providing liquidity. Axie Infinity’s Katana DEX Launched Sky Mavis, the developer of Axie Infinity, a breakthrough play-to-earn-based blockchain game, has launched Katana, a new decentralized exchange on top of Ronin. Ronin is Sky Mavis’ own tailored Ethereum sidechain, developed to satisfy the needs of users that complained about the high fees they had to pay for transacting on Ethereum’s Layer 1 (L1). With Katana, Sky Mavis makes it easier to manage Axie Infinity and introduces an alternative way of earning yield for users. As with most decentralized exchanges, Katana will feature liquidity pools to serve other users in facilitating the exchange of their tokens on top of the same Ronin sidechain. One of the most interesting proposals of the exchange is the introduction of USDC as a supported token, making it easier for players of Axie to park their earnings in stablecoins to avoid volatility. Sky Mavis Introduces Ron Token, Prices React Katana also brings changes to the economics of Ronin. Until now, Ronin transactions were free, and each user had a quota of 100 free transactions per day. Going forward, however, the native token of the Ronin sidechain, ron, will be needed as gas to pay for transactions. Ron will also be offered as a reward for staking liquidity in Katana, this being the main incentive behind it. Sky Mavis stated they would be offering more information on ron specifics soon. The first liquidity pools to be available in Katana will be AXS/ETH and SLP/ETH, which will distribute half of the rewards offered each. The launch of the Katana decentralized exchange boosted the price of AXS and SLP, the two tokens of the Axie ecosystem. AXS hovered around the $140 mark on November 3, while on November 4 (EDT) the token reached a price peak of almost $160. SLP, the “wage” token of players in the Axie platform, shot up vigorously, going from $0.06 to a peak of $0.11, almost doubling its value in just a day. What do you think about the launch of Katana, Sky Mavis’ first decentralized exchange? Tell us in the comments section below. View the full article

PRESS RELEASE. Dubai, UAE, 5th November 2021 — Mintverse, a new and improved NFT service platform, closes their seed round raising $1.5 million from private investors. Led by A&T capital, and other large investment firms including Mirana Ventures, Longling Capital, Genesis Block Ventures, FBG, Fenbushi Capital, Cipholio Ventures, Nebulas, Ceras Ventures, NDG and other individual angel investors, Mintverse aims to be a community-based initiative to provide products and services that explore future use cases of NFTs. It is expected to feature a completely decentralized service platform and incubator for more than just NFT based projects. Mintverse will use the funds raised to further develop the existing platform and release future product offerings to tackle the current problems faced within the industry. Mintverse founder was thrilled by the response from the large list of investors and said, “The support we have gained during this round of fundraising has been astounding and we look forward to continuing our progress in order to better the NFT ecosystem.” Mintverse is looking to provide their services through a variety of different product offerings, tapping into the world of NFTs. At the initial launch of the platform, the Mintverse team will start by leveraging the power of NFT marketplaces and enter the world of GameFi. Empowering both the Ethereum network and Binance Smart Chain, the service platform will be able to engage with the masses of NFT creators, collectors and GameFi projects. According to the roadmap, Mintverse will eventually tap into further comprehensive product offerings including the anticipated launchpad feature, giving not only NFT and crypto projects but also sole NFT creators who struggle with the lack of monetary incentives in the industry, the opportunity to raise funds. Private investors have expressed their approval for the first round of fundraising. Jasmine Zhang from A&T Capital was thrilled about their investment into Mintverse and stated, “With the ever growing NFT ecosystem, there are visible gaps in the industry. During my conversation with the founder of Mintverse, we saw their project vision and the current glaring problems they are working towards solving. The NFT market has a long way to go in terms of growth and creating a better understanding for those who are still unsure of its potential and are skeptical of what is to come. At A&T Capital, we believe these issues will slowly start to diminish with a platform like Mintverse and are delighted to be a part of this journey.” About Mintverse Mintverse is a service platform, where users can create, discover and collect an array of digital items and NFTs while also being able to crowdfund NFT art, crypto & NFT projects. Mintverse is working towards its vision of mass NFT adoption while further developing existing use cases and exploring future use cases of the NFT data structure. Backed by major investors and partners, Mintverse has the resources to develop the growth of the NFT community by tackling the current existing problems such as high gas fees, lack of monetary incentives for creators, and insufficient utility for current NFT assets. They are able to do this by implementing a variety of product offerings including, but not limited to, NFT marketplace, gaming incubation, launchpad, governance DAO and more. Website | Discord | Telegram | Medium | Twitter Contact service@mintverse.com This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Microsoft has announced the launch of a metaverse-inspired feature for its Teams app called Mesh. Mesh will allow users to introduce personalized avatars in digital worlds, making meetings more immersive. The platform is being announced on the heels of Facebook’s pivot to becoming a metaverse-dedicated company, changing its name to “Meta.” Microsoft Embraces the Metaverse Software behemoth Microsoft has announced it will release a metaverse-inspired solution for its Teams app called Mesh. With Mesh, users in meetings will feel more immersed because the app will introduce avatars — digital representations of the user — for applications like team calls. Furthermore, the avatars will be able to meet and greet each other in an immersive, digital world. This new feature will be available for users with smartphones, laptops, or even holographic devices. According to Jeff Teper, a Microsoft corporate vice president, Mesh is a way to: Signal we’re in the same virtual space, we’re one team, we’re one group, and help take the formality down a peg and the engagement up a peg. We’ve seen that those tools have accomplished both goals of helping a team be more effective and also helping individuals be more engaged. Playing Catch-Up While the feature has been in development for some time now, Microsoft’s move feels like it comes right on the heels of the recent Facebook name change to Meta. The corporate and social worlds are starting to value these kinds of services and to offer them as part of a new conception of social contact and work in the aftermath of the Covid-19 pandemic. However, metaverse proposals are not new, and many blockchain projects have already been presenting similar self-contained worlds. One of these is a relatively obscure blockchain project called Decentraland, which was launched in the boom of the ICO season back in 2017. Founded by Ariel Meilich and Esteban Ordano, the project established a virtual world where plots of land can be bought by individuals and companies to establish virtual stands or other useful digital representations. The Sandbox is another similar project. Owned by Animoca Brands (which recently received funding from Ubisoft, a leading game development company), the project also features virtual land and assets. These assets can be created by the user and monetized, too, as objects are automatically turned into NFTs, thus introducing the concept of true ownership in the digital world. What do you think about Microsoft Mesh and its virtual bet? Tell us in the comments section below. View the full article

Warner Bros., the American multinational mass media and entertainment conglomerate has announced the launch of non-fungible token (NFT) collectibles for the upcoming film “The Matrix Resurrections” after dropping official Space Jam NFT collectibles. The Matrix NFT program will start on November 30 as Warner Bros. plans to drop 100,000 Matrix Resurrections’ NFTs. ‘You Take the Blue Pill…the Story Ends — You Take the Red Pill…You Stay in Wonderland, and I Show You How Deep the Rabbit Hole Goes’ The entertainment giant Warner Bros. is knee-deep in the non-fungible token (NFT) industry these days after launching the official Space Jam NFTs with the Miami-based firm Nifty’s, Inc. The NFTs stemmed from the recently released “Space Jam: A New Legacy,” which starred a cast of famous Looney Tunes characters and the NBA star LeBron James. Warner Bros. has joined a number of big-name entertainment firms like Fox, Lionsgate, Dolphin, and ViacomCBS. The entertainment companies WWE and UFC, firms that are focused on specific sports such as professional wrestling and mixed martial arts have also jumped in on the NFT space. Now Warner Bros. is working with Nifty’s to drop NFTs for the upcoming film “The Matrix Resurrections,” which is due to be released on December 22. According to statements sent to The Hollywood Reporter, the official Matrix NFTs will be avatars of people inside the Matrix. The avatar NFTs will drop on November 30 but on December 16, owners of the base avatars will be able to take a “blue pill” or take a “red pill.” If they take the “blue pill,” NFT avatar owners will remain in the Matrix but if the “red pill” is taken the NFTs will transform. According to the announcement, Nifty’s and Warner Bros. will continue to keep the Matrix NFT community going with “frequent challenges.” The upcoming movie, “The Matrix Resurrections,” will be released 18 years after the last film — “The Matrix Revolutions.” The movie will star original cast members such as Keanu Reeves (Neo) and Carrie-Anne Moss (Trinity). What do you think about the upcoming “The Matrix Resurrections” NFT collectibles? Let us know what you think about this subject in the comments section below. View the full article

PRESS RELEASE. 3air is using an ISP platform built on Cardano to provide internet to the most unconnected regions in Africa. November 2nd, 2021, Dubai, UAE – Today, 3air, a blockchain-based startup, announced it will leverage the power of decentralization to provide internet connectivity to consumers in Africa and provide the physical infrastructure to support this through its partnership with K3 Telecom. Only 20% of people on the African continent are active internet users, with less than 1% having access to broadband. Compare this with the 60% of the world population that are active internet users and it quickly becomes evident that African nations have quite a distance to go in order to fully benefit from the world wide web. The lack of internet in this region not only means it has been more difficult to implement successful COVID-19 containment methods, but there is also a social and economic impact including the way citizens interact with their government, with businesses, and with each other. What is 3air? 3air’s vision is to make broadband connectivity available to the masses that is easy to access through its blockchain-based platform and elevates the principles of decentralization for use in the solution for a real-world and critical problem. 3air aims to achieve this first by addressing the problem of physical infrastructure in low-connectivity regions. The project has partnered with K3 Telecom which will develop the physical infrastructure as part of its “K3 Last Mile” initiative, whilst 3air develops the blockchain-based software. The physical infrastructure will comprise mobile internet base stations, each of which will support up to 15,000 internet users, have a range of 50 km, and provide up to 1 Gbps per user (240x faster than the average mobile internet connection). Base stations are interconnected around a city, with at least one in any network connected to the global internet. According to 3air, this approach is both more efficient and cost-effective, as they can be deployed and started quickly owing to their small size, robustness, performance, and low-skill installation. Additionally, each base station consumes a relatively low 500 W, meaning their impact on their local environment is minimized. The connection is then relayed to homes or buildings which host the transceivers. Decentralized and Powered by Cardano Simultaneously, 3air is seeking to bring the world’s fastest-growing continent into the fast-developing decentralized age. 3air leverages the power and features of the popular blockchain platform Cardano to connect internet users in the region with K3’s physical infrastructure. Cardano provides the foundation for 3air’s native token (also called 3air) which is used to acquire all services on the 3air platform, including monthly subscriptions to internet and TV services, digital identities, staking, rewards, and loyalty system, and the referral system. 3air holders will also win governance rights over the direction of the platform, including a say on the allocation of funding. The team has also stated that the token will form the basis of future ideas and features that will revolutionize the way we connect. These include greater data access and internet of things for governmental and maintenance functions, enabled by the platform’s open access and privacy features. Currently, the 3air token is being used to fund current development, with the presale already open. A public sale will take place in November. For more information regarding 3air’s token, visit their website here. 3air Leapfrogs Africa’s Internet Connectivity into the Future Both current and future developments are aided by 3air’s strategically acquired partnerships. K3 Telecom is a Swiss technology provider with an international presence, including a location in Sierra Leone. Together with K3 Telecom, 3air is piloting the “Cable in the air” initiative to prove its concept of decentralized internet access in the West African country. The team has also secured partnerships with IT TIM and CV Labs Dubai who will also contribute to the development of the physical infrastructure and software 3air is set to deploy. These partnerships are being supported by a stellar team with experience in the ISP world as well as building decentralized software solutions in the region. Leveraging its team’s skills, its strategic partnerships, and the power of physical and decentralized technology, 3air aims to connect its first clients within 6 months and realize its vision of becoming the world’s first blockchain-based decentralized, permissionless ISP service platform. For more information about 3air and its mission to make the internet available to all, visit their website here Follow 3air on Twitter Join the 3air community on Discord Stay up to date on 3air on LinkedIn Watch 3air’s developments on YouTube Read the 3air blog on Medium Media Contact Details Contact Email: press@3air.com 3AIR is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Paytm, one of India’s largest payments companies, is open to offering bitcoin services if the crypto asset becomes legal in the country, according to its chief financial officer. If bitcoin “was ever to become fully legal in the country, then clearly there could be offerings we could launch,” he said. Paytm Open to Bitcoin Offerings Paytm Chief Financial Officer Madhur Deora has indicated that his company is open to offering bitcoin services if the crypto asset becomes legal in India, local media reported Thursday, citing his recent interview with Bloomberg TV. Deora was quoted as saying: Bitcoin is still in a regulatory grey area if not a regulatory ban in India. At the moment Paytm does not do bitcoin. If it was ever to become fully legal in the country, then clearly there could be offerings we could launch. In August last year, Paytm reportedly froze Paytm Payments Bank’s customer accounts suspected of crypto trading. Paytm is currently India’s second most-valuable internet company. The company is planning to launch an initial public offering (IPO) between Nov. 8 and Nov. 10. The IPO, which is expected to take the company’s valuation to $20 billion, is poised to become the biggest IPO in the history of the Indian capital markets. The Indian government has been working on a cryptocurrency bill for quite some time. Initially, the government was considering a bill to ban cryptocurrencies, like bitcoin. However, recent reports suggest that the government is now planning to regulate the crypto sector. The crypto legislation will be “distinct and unique,” one lawmaker said. Last month, Finance Ministry officials reportedly said that crypto regulation would most likely come around by February. Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), still has “serious concerns” about cryptocurrency, which have been communicated to the government. The RBI also said that a digital rupee model may be unveiled by the end of the year. Do you think Paytm should offer crypto services? Let us know in the comments section below. View the full article

U.S. lawmakers have called on the Securities and Exchange Commission (SEC) to approve bitcoin spot exchange-traded funds (ETFs). Since the SEC has approved the trading of bitcoin futures ETFs, the lawmakers said it “should no longer have concerns with bitcoin spot ETFs and should show a similar willingness to permit the trading of bitcoin spot ETFs.” Lawmakers Urge SEC to Permit Trading of Bitcoin Spot ETFs U.S. Representatives Tom Emmer and Darren Soto sent a bipartisan letter to the chairman of the Securities and Exchange Commission (SEC), Gary Gensler, Wednesday regarding bitcoin exchange-traded funds (ETFs). So far, the SEC has approved two bitcoin futures ETFs but has yet to approve any bitcoin spot ETF. Rep. Emmer said: The SEC’s approach to cryptocurrency regulation has been unacceptable. While the trading of bitcoin futures ETFs is a great step forward for the millions of American investors who have been demanding regulatory clarity, it does not make sense that bitcoin spot ETFs cannot also commence trading. Noting that the SEC approved two bitcoin futures ETFs, Reps Emmer and Soto wrote: “We question why, if you are comfortable allowing trading in an ETF based on derivatives contracts, you are not equally or more comfortable allowing trading to commence in ETFs based on spot bitcoin.” They explained, “Bitcoin spot ETFs are based directly on the asset, which inherently provides more protection for investors,” adding that futures products “are potentially much more volatile than a bitcoin spot ETF and may impose substantially higher fees on investors.” Referencing the SEC’s previous reasoning for disallowing spot bitcoin ETFs, the lawmakers asserted that “Since the SEC no longer has concerns with bitcoin futures ETFs,” then “it presumably has changed its view about the underlying spot bitcoin market because bitcoin futures are, by definition, a derivative of the underlying Bitcoin spot market.” They continued: The SEC should no longer have concerns with bitcoin spot ETFs and should show a similar willingness to permit the trading of bitcoin spot ETFs. The letter also notes that while the SEC continues to deny bitcoin ETFs, “numerous spot bitcoin investment vehicles have been offered,” with more than $40 billion in assets under management (AUM). “However, because these products have been unable to register as ETFs with the SEC, public trading typically occurs at a value that is not equivalent to net asset value, and in fact, these products have recently been trading at steep discounts to their net asset value,” the congressmen stressed. They elaborated: Permitting futures-based ETFs while simultaneously continuing to deny spot-based ETFs would further perpetuate these discounts and clearly go against the SEC’s core mission of protecting investors. The letter concludes: “The SEC is in a position to approve bitcoin futures ETFs, as reflected by the trading of these products, so it should also be in a position to approve bitcoin spot ETFs.” What do you think about the SEC approving bitcoin futures ETFs but not bitcoin spot ETFs? Let us know in the comments section below. View the full article

U.S. Senator Ted Cruz has introduced a resolution that would position Congress to lead in the area of cryptocurrency by having congressional cafeterias, vending machines, and gift shops accept crypto payments. “Congress is typically slow to adopt new technology,” he said. Senator Pushes for Crypto Adoption in Congress U.S. Senator Ted Cruz has introduced a resolution titled “Adopting Cryptocurrency in Congress as an Exchange of Payment for Transactions Resolution,” also referred to as “ACCEPT Resolution,” in the Senate Monday. The resolution proposes cryptocurrency be accepted at “restaurants, vending machines, and gift shops in the Capitol Complex.” According to the text of the resolution: The Architect of the Capitol, the Secretary of the Senate, and the Chief Administrative Officer of the House of Representatives shall each … solicit and enter into contracts to provide food service and vending machines in such Capitol Buildings with persons that will accept digital assets as payment for goods. They shall also “encourage the gift shops in such Capitol Buildings to accept digital assets as payment for goods,” the resolution adds. Cruz told Breitbart News Monday that Congress can lead in the area of cryptocurrencies by adopting them as payment and increasing crypto awareness in Congress. “As consumers better understand and embrace cryptocurrency, merchants are increasingly accepting crypto as a payment method. Congress is typically slow to adopt new technology,” the senator from Texas explained to the publication, adding: My bill would position Congress to lead on this issue by having congressional cafeterias, vending machines, and gift shops accept crypto payments. What do you think about Senator Cruz’s crypto adoption proposal? Let us know in the comments section below. View the full article

Star Financial Bank (Star Bank) says it has become the first bank in the U.S. state of Indiana to offer bitcoin services to customers. The services will be offered through the New York Digital Investment Group and Alkami platform. Customers will have the ability to buy and sell bitcoin via the Star Mobile Banking App. ‘First Bank in the State of Indiana to Offer Bitcoin Trading Services’ Star Financial Bank (Star Bank) announced Tuesday: Star is excited to offer customers the ability to buy and sell bitcoin via the Star Mobile Banking App. “We’re launching this new offering as a closed beta,” the bank added. Star Bank is an Indiana-based community bank. Its parent company, Star Financial Group, has $2.80 billion in assets with 36 locations in central and northeast Indiana, according to its website. The bitcoin services are provided by the New York Digital Investment Group (NYDIG) via Alkami, a cloud-based digital banking solutions provider for U.S. banks and credit unions. NYDIG is the bitcoin investment arm of Stone Ridge Asset Management. According to the announcement published on Star Bank’s website: Star Bank is the first bank in the state of Indiana to offer bitcoin trading services to customers. The bank’s customers will have the option to “acquire, sell, hold, and manage bitcoin alongside their traditional assets,” the announcement details. Alkami’s founder and chief strategy and sales officer, Stephen Bohanon, explained that his company “helps financial institutions achieve digital banking success by delivering the most advanced cloud-based digital banking platform on the market.” He opined: “Early technology adopters appreciate the importance of embracing bitcoin opportunities.” What do you think about Star Bank offering bitcoin trading services? Let us know in the comments section below. View the full article

PRESS RELEASE. The latest strategic investment in emerging SocialFi startup Torum from KuCoin Labs will empower the development of a SocialFi Metaverse powered by VR and Web3.0 technologies. 4th November 2021, Kuala Lumpur, Malaysia — Following the strategic investment of Huobi Ventures and 20 other prominent crypto VCs, Torum SocialFi platform is excited to announce that the project has secured a strategic investment from KuCoin Labs, the $50M incubator and research arm of KuCoin. The Torum KuCoin Ecosystem Torum is a SocialFi Metaverse ecosystem that is specially designed to connect cryptocurrency users and projects. The Web 3.0 ecosystem is built with a social media platform with over 120,000 users at its core, integrated with an interactive yield farming platform, an NFT marketplace, and lastly the world’s first PFP Metaverse identity – Torum Avatar NFT. Everything started when Torum announced the ambition to expand into the Metaverse and NFT on 27th September 2021. The SocialFi Metaverse concept has caught the eye of KuCoin Labs, which led to intensive meetings and follow-up calls between the two parties and lastly the strategic investment on Torum. Lou, Head of KuCoin Labs stated: “The beauty of Metaverse lies in its diversity. Social, Avatars, NFT collections, GameFi – Metaverse is going to change the world as we see it. This is merely the tip of the iceberg, and we look forward to support Torum’s vision to build a SocialFi Metaverse for the crypto users” Ecosystem Expansion As part of this strategic investment, Torum will be building an immersive and interactive SocialFi Metaverse ecosystem, where cryptocurrency users around the world can access Social, Decentralized Finance, NFT and Metaverse all in one place. Yi Feng Go, CEO, and founder of Torum stated: “This round is a major step towards the upcoming Metaverse revolution. It doesn’t matter if you are a Bitcoin maximalist, DeFi player, altcoin trader or NFT artist. This SocialFi Metaverse is our promise of creating an open, safe and interconnected world for everyone.” The partnership with KuCoin Labs will empower Torum with the connection to exclusive partners and access to premium services (blockchain technical support, legal advice, etc) that are within the reach of the KuCoin ecosystem to focus on the development of the SocialFi Metaverse. About KuCoin Labs Initially founded as the KuCoin Investment and Incubation Program in May 2018, KuCoin Labs is the investment and research force of the KuCoin ecosystem. With a team of research and market experts, KuCoin Labs diversifies and intensifies investments into early-stage projects, ecosystems, and communities, empowering BUIDLers to achieve sustainable growth and success in the decentralized world. About Torum Torum is the world’s largest SocialFi Metaverse ecosystem that is specially designed for cryptocurrency users and projects. The Web3.0 ecosystem is built on a social media platform, coupled with a yield farming platform for DeFi players, an NFT marketplace for crypto artists and Avatar NFT for Metaverse enthusiasts. Torum Socials Twitter | Telegram | Discord | Medium | Facebook | LinkedIn | Reddit Media Contact Details Contact Name: Jayson Tan Contact Email: hello@torum.com Torum is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. View the full article

Facing an electricity deficit largely blamed on cryptocurrency miners, Kazakhstan is trying to avoid an energy crisis this winter. The president of the country has insisted on the need to maintain power supply for the industry and population, calling for urgent legal regulation of the expanding coin minting sector. President Tokaev Calls for Legislative Regulation of Cryptocurrency Mining in Kazakhstan During a recent meeting with the energy minister of Kazakhstan, Magzum Mirzagaliev, President Kassym-Jomart Tokayev criticized his department for allowing a sharp decline in fuel reserves. The head of state also emphasized the need to ensure an uninterrupted supply of electricity for both businesses and households, and to create additional generating capacities. According to a press release from Tokayev’s office, Mirzagaliev informed the president about steps taken to compensate for fuel shortages and presented a forecast for the development of Kazakhstan’s power generation industry until 2035. Electricity consumption has been projected to increase annually and Kazakhstan intends to rely on renewable sources, natural gas, and hydroelectric power to deal with the rising demand. The Central Asian nation, which maintains low electricity rates, is becoming home to a growing number of cryptocurrency miners amid an ongoing crackdown on bitcoin mining in China. Their energy-hungry data centers have been blamed for a 7-percent spike in consumption in the first nine months of the year alone, and authorities claim that a single mining farm needs as much energy as 24,000 homes to operate. Minister Mirzagaliev also acquainted Tokayev with the measures aimed at establishing firmer control over the cryptocurrency mining sector, especially in regards to illegal coin minting operations. Official estimates suggest that these so-called “gray” miners burn as much as 1,200 megawatts of electricity. Authorities continue with their efforts to identify such facilities across the country. The president instructed the government to step up these efforts with the help of other competent authorities, the announcement quoted by Forklog reveals. Tokayev also tasked the executive power to organize “urgent legislative regulation of mining.” At the same time, he stressed that legal, “white” miners will be allowed to continue their activities without additional restrictions. In his view, Kazakhstan has the resources to ensure an uninterrupted supply of electricity for its domestic market. Tokayev’s comments come after a group of lawmakers proposed the establishment of a state register for cryptocurrency farms operating in the country last month. The members of the Mazhilis also suggested that miners should be charged a higher price for the electricity they use. The capped tariff is one of Kazakhstan’s main problems, officials in neighboring Russia believe, as the artificially low price has limited investments in new infrastructure and generation capacity. Russian energy giant Inter RAO recently revealed it’s considering providing electricity supplies for Kazakhstan to help the country deal with the shortages in the winter months. Do you expect Kazakhstan to adopt comprehensive regulations for its crypto mining industry? Tell us in the comments section below. View the full article

Chipper Cash, one of Africa’s biggest fintechs, recently concluded a Series C extension funding round in which it raised $150 million, a report by Techcrunch has revealed. New Investors Participate in Latest Round According to the report, this latest funding round — which was led by Sam Bankman-Fried’s FTX — comes barely six months after the fintech startup Chipper Cash was able to raise $100 million in the first Series C funding round. Besides FTX, other investors that participated in Chipper Cash’s latest funding round include SVB Capital, which led the first Series C. Also reinvesting were Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, and Tribe Capital. The report acknowledges that new investors participated in this series. It states, however, that the names of these investors have not yet been made public. It also reveals that following the $150 million haul, Chipper Cash has now raised over $305 million. The firm is now valued at over $2 billion. The fintech, which was founded in 2018 by Ham Serunjogi, the current CEO, and Maijid Moujaled, specializes in peer-to-peer, cross-border payments. According to the report, Chipper Cash services are presently used in seven African countries: Ghana, Kenya, Nigeria, Rwanda, South Africa, Tanzania, and Uganda. Beating the Competition In the report, Serunjogi is quoted explaining why Chipper Cash is beating the competition. He said: Chipper Cash is offering remittances considerably cheaper than anyone else. More important to that is that we are now the first ones that I know honestly to be able to support Africa to the U.S. in terms of sending money. In addition to enabling cheaper cross-border payments, Chipper Cash has been busy tapping into the world of social payments, the report states. Already the fintech has partnered with Twitter to launch its tips feature, also known as Tip Jar, to allow creators to receive money on the platform. What are your thoughts about Chipper Cash’s latest capital raise? Tell us what you think in the comments section below. View the full article

The Sandbox, a blockchain-based metaverse game, has scored an investment of $93 million to keep expanding its metaverse proposal. The funding round was led by Softbank’s Vision Fund 2, an investment vehicle that puts funds on early tech-based companies. Other investors in the round included Animoca Brands, True Global Ventures, Liberty City Ventures, and Galaxy Interactive, among others. The Sandbox Gets $93 Million in Series B Funding Round The Sandbox, one of the leading blockchain-based metaverse games, has closed its Series B funding round raising $93 million to further expand its virtual world. The funding round was led by Softbank’s Vision Fund 2, which specializes in investing in tech startups. The round also had the participation of Animoca Brands, True Global Ventures, Liberty City Ventures, and Galaxy Interactive, among others. The funds raised in this round will help the game to keep expanding its reach. Sebastien Borget, COO and co-founder of The Sandbox, stated: This investment round led by Softbank Vision Fund 2 will help scale up our growth strategy, operations, and player acquisition in The Sandbox ecosystem while sending a clear statement that the world’s most innovative fund believes in Web3 and decentralization as the next major trend The Sandbox, which is owned by Animoca Brands, has experienced explosive growth since its creation, with more than 500K users having an in-game wallet now. The game lets players and companies own virtual lots of land, and monetize these interactions. Celebrities like Snoop Dogg, have also made deals to allow digital alter egos to be represented in the game. Other IPs like The Walking Dead, The Smurfs, Care Bears have also made arrangements to be present in the virtual world. Metaverse Tokens Getting a Boost While virtual worlds and the metaverse concepts are not new, they have been picking up steam recently due to the pivot that Facebook, one of the pioneers in the social network world, is doing to also power its own version of the metaverse. This seems to have raised awareness about the validity of the metaverse proposal and has propped up interest and prices of metaverse related tokens, like sand, The Sandbox native token, and mana, the token of another metaverse based project called Decentraland. Facebook announced its name change to “Meta” on October 28. Mana was trading at less at 0.77$ for that date, and sand had a price of 0.81$. In the days following the announcement, these two experienced a big jump, with mana now hovering on top of the $3 mark, and sand reaching a price of $2.83. What do you think about The Sandbox’s $93 million funding round? Tell us in the comments section below. View the full article