Category: Investment

SAND prices have surged to a new all-time high as The Sandbox announces its highly anticipated play-to-earn metaverse event. Animoca Brands’ virtual property and gaming firm The Sandbox is opening up part of its metaverse to players for the first time via a multi-week play-to-earn (P2E) Alpha event. But only a handful of lucky players will get to enjoy the full experience. The Sandbox’s virtual gaming world enables users to monetize their time spent in the metaverse via a play-to-earn model. Players can purchase land and create nonfungible tokens (NFT)…

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New “embedded” functionality aims to improve fan engagement for musicians through NFT adoption and Web 3.0 integrations. California-based music streaming platform Audius released a new function that allows artists and fans to embed nonfungible tokens (NFT) on various blogs and social media platforms such as Twitter and Discord. The “embedded” functionality aims to improve fan engagement for musicians through NFT adoption and Web 3.0 integrations. To enable the feature, artists need to connect their Audius accounts with Phantom wallet, a crypto wallet centered around the Solana ecosystem. Aiming to increase…

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Binance, one of the world’s leading cryptocurrency exchanges, announced its 10 Fundamental Rights for cryptocurrency users, which the largest cryptocurrency platform by volume, touts that it can serve as a guiding hand in regulatory discussions and can help with the development of global frameworks for crypto markets. These fundamental rights according to Binance are “meant to ensure safe access to emerging technologies, liquidity, and secure platforms among other steps to ‘protect users without limiting growth and innovation.” In an interview with Bloomberg, Binance boss Changpeng Zhao explained that the 10…

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According to data from ultrasound.money, Ethereum hit 892,000 burned coins with more than 10% of those coming from NFT marketplace OpenSea. OpenSea’s rein in the burn rate has been untouchable since the NFT rally that started back in August with its peak in September. The only coin burn source that came close to the Ethereum NFT marketplace was Ethereum transactions made on a daily basis. In all, OpenSea has burned 100,854 ETH, which equals around $400 million worth of coins. Before the update, the same amount of coins would have…

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The metaverse continues to be the next attraction point of crypto for investors, with The Sandbox, an Animoca Brands subsidiary and nonfungible token (NFT) metaverse platform, raising fresh capital in a funding round led by SoftBank Vision Fund 2. Marking SoftBank Vision Fund 2’s first investment into the crypto assets, The Sandbox’s Series B round saw $93 million raised with the participation of Animoca Brands, True Global Ventures, Galaxy Interactive, SCB 10X, Polygon Studios and Samsung Next, among others. According to the announcement, The Sandbox aims to speed up the…

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Benyamin Ahmed taught himself how to create pixellated artwork by watching video tutorials. A 12-year-old boy has made around £290,000 selling whale art non-fungible tokens (NFTs). Benyamin Ahmed created and sold the digital artworks, which are called Weird Whales, after teaching himself how to create pixels by watching video tutorials during the summer holidays. “I made them to auction them off originally. It started as a learning experience but then just went viral on Twitter,” he told ITV News. The north London schoolboy has created 3,350 of the digital whale…

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The NFT craze continues to attract people, as well as businesses in, with the most recent example of this being Visa’s own entry into the NFT space. The company just purchased CryptoPunk digital art, according to its announcement from earlier today, August 23rd. The multinational financial services giant spent around 50 Ethereum (ETH/USD) for a CryptoPunk NFT, and in doing so, it has once again proven its support for the digital currency sector. The company announced its acquisition of CryptoPunk #7610 in a recent Twitter post, noting that the transaction…

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Bitpanda, an Austrian crypto trading platform, has more than tripled its valuation in five months. Earlier today the platform was valued at $4.1 billion after its Series C funding round raised $263 million. Reportedly, Valar Ventures spearheaded this investment round alongside Alan Howard and REDO Ventures. Existing investors such as Leadblock Partners and Jump Capital also took part in the financing round. According to the report, Bitpanda was worth $1.2 billion after its private financing round in March 2021. At the time, the company had managed to net $170 million.…

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Ethereum 2.0, the much-awaited upgrade of the Ethereum network, received immense support from the ETH community since the official launch of Beacon Chain in December 2020. Etherscan.com, the block explorer and analytics platform for Ethereum, recently highlighted that the total value of the staked ETH under the deposit contract of ETH 2.0 has crossed the mark of $20 billion. Ethereum 2.0 deposit contract now has 6.59 million ETH, which is the highest level on record. During the first week of July 2021, ETH 2.0 deposit contract crossed 6 million coins…

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According to new policies from German regulators, institutional funds can now invest in cryptocurrencies. The new law, which was implemented at the beginning of the month, gives the German Spezial-AIF special funds the right to invest in digital assets. The regulation specifically applies to assets held in the specialized funds called Spezialfonds. Traditionally these special funds are open-ended, regulated investment funds limited to institutional investors, such as financial institutions, insurance companies, corporations, foundations, and churches, excluding the general population. Around 4,000 institutional funds with almost 2 trillion Euros in assets…

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Alipay has launched a new feature that allows users to buy non-fungible tokens (NFTs) from within the app, according to local sources. One of China’s largest payment service provider, Alipay, has launched a platform for the sale of NFTs. Local media reports and tweets from Colin Wu and others confirmed the development, which marks a big step forward for the company. Users can buy NFTs directly from the app, as seen in the tweets, which are accompanied by a few screenshots of the UI. Sino Global Capital CEO Matthew Graham,…

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British computer scientist and inventor Tim Berners-Lee is auctioning the original code for the world wide web as a non-fungible token. NFTs are a type of digital asset designed to show that someone has ownership of a unique virtual item, such as online pictures and videos, or even sports trading cards. The auction for the world wide web NFT — titled “This Changed Everything” — will be run by Sotheby’s in London from June 23-30, with bidding starting at $1,000. The proceeds of the auction will benefit initiatives that Berners-Lee…

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Thailand has now officially banned the trading of meme coins and NFTs. According to news reports, the country’s Securities and Exchange Commission ordered various exchanges to delist numerous meme coins such as Dogecoin as well as other utility tokens, social tokens and even NFTs. The specific wording of the regulations states that these digital assets have “no clear objective or substance or underlying [value]” and that their prices are purely “running on social media trends.” The ban has already been implemented, and Thailand is now looking ahead to also ban…

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MicroStrategy has filed an application for a $1 billion securities offering of its class A common stock, NASDAQ: MSTR. The company will use the money for “general corporate purpose, including the acquisition of Bitcoin.” MicroStrategy is planning yet another Bitcoin purchase. Hours after completing a $500 million raise in corporate bonds to add to its holdings of the digital asset, the business intelligence firm filed for a new “securities offering” worth $1 billion with the SEC. The registration explained that the sale would be for its NASDAQ-listed MSTR shares, which…

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