Autor Cointelegraph By Brian Newar

Nifty News: Anime-ca Brands, Steve Aoki’s NFTs more profitable than decade of studio albums

Nifty News: Anime-ca Brands, Steve Aoki’s NFTs more profitable than decade of studio albums

Uverejnil používateľ | feb 16, 2022 |

Anime and Animoca BrandsBlockchain gaming and Metaverse company Animoca Brands has launched a strategic subsidiary in Japan after raising $10 million in seed funding.The new subsidiary, named Animoca Brands KK, plans on expanding popular Japanese content into NFTs, the Metaverse, and fungible tokens through Web3 applications. The content includes anime such as My Hero Academia and Dragon Ball, games, art, sports, and others.Funds for this latest expansion were raised in a $10 million seed round led by Japanese investment firm MCP Asset Management’s MCP IPX One Fund. Animoca Brands co-founder and executive chairman Yat Siu told Cointelegraph that “this one is really big” because of the content being brought into the NFT space and the size of the firms now involved.Siu also said in the official announcement from Feb. 15:“Our Japanese division will focus on partnering with IP owners in Japan to enable them to offer new Web3 products and services in the open Metaverse.”Animoca’s other major investments in NFTs and the Metaverse include The Sandbox (SAND), Axie Infinity (AXS), and Dapper Labs. Rarible and Cyber create VR platform for NFTsVirtual reality platform Cyber and NFT marketplace Rarible have teamed up to create a fully immersive virtual NFT marketplace. The marketplace is compatible with the Oculus headset on mobile devices and gives collectors a way to browse collections in a 3D Metaverse setting. Using Cyber’s marketplace requires users to list their NFTs for sale on Rarible.NFTs purchases directly in a 3D metaverse via @raribleprotocol ✅visitors can now buy NFTs without ever leaving your gallery space — just list your NFTs on @rarible ️fully immersive marketplace? we’re just getting started ️ pic.twitter.com/k3Ofj5HfGD— ᴏɴ ᴄʏʙᴇʀ (@oncyber_io) February 15, 2022Rarible is the 19th biggest NFT marketplace with $47,000 in trading volume over the past 24 hours according to DappRadar.DJ Steve Aoki’s NFT income surpasses music careerAzukita song performer Steve Aoki revealed that he makes more from trading NFTs than he has from 10 years of selling studio albums. Aoki has been selling NFTs on the OpenSea NFT marketplace since March 2021, when his Steve Aoki collection dropped. Since then, the collection has enjoyed 547 ETH volume traded among 953 owners. At a private Gala Music event on Feb. 10, Aoki said,”If I was to really break down, OK in the 10 years I’ve been making music, six albums, and you culminate all those advances, what I did in one drop last year in NFTs I made more money.”Aoki’s collection demonstrates his keen sense of the NFT industry. He owns a Yat that serves as his personal URL and has collected several Bored Ape Yacht Clubs and Adidas Originals NFTs worth over $1 million. His latest foray in the NFT space is the Aok1verse Metaverse iteration. Samsung S22 pre-sale offer includes NFT drop for KoreansSamsung’s latest update to its S-series of smartphones hit the market with fanfare in South Korea, where early buyers were treated with several benefits including an exclusive NFT.Presale buyers of the S22 phones and Tablet S8 will receive an NFT from Theta Labs, which has had a long-standing partnership with Samsung. Theta hopes the offer will drive users to its ThetaDrop NFT marketplace, where people must go to claim their NFT.Presale orders for the S22 exceeded those for the S21 by three to four times, according to a report from Korean news agency Yonhap News.Other Nifty NewsThe New York Stock Exchange (NYSE) may be diving into the Metaverse soon as the exchange has registered to trademark the NYSE name on several blockchains and crypto products. The application includes uses in virtual reality and augmented reality software, NFTs, and online marketplaces.The CryptoPunks community is up in arms over allegations that Larva Labs sold dozens of CryptoPunks v1 on OpenSea before withdrawing recognition of their authenticity. The v1 collection had a smart contract exploit which was fixed by issuing a v2 collection.

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Crypto investors hedging out risks ahead of March rate hike

Crypto investors hedging out risks ahead of March rate hike

Uverejnil používateľ | feb 15, 2022 |

On-chain data analysis from Glassnode shows that Bitcoin investors are hedging out risks in order to stay protected against Federal Reserve interest rate hikes in March.Glassnode’s The Week On-Chain newsletter from Feb. 14 indicates that the most significant trend in Bitcoin (BTC) right now is the flat futures term structure through March. This is strongly attributed to “investor uncertainty regarding the wider economic impact of a tighter US dollar.”The rate hike is already priced in to spot markets, according to Cointelegraph contributor Michaël van de Poppe, but the longer term effect it will have is still unclear. As a result, Glassnode observed that investors are taking steps to protect themselves from the potentially low downside risk. “It appears that investors are deleveraging and utilizing derivatives markets to hedge out risk, and buy downside protection, with a keen eye on the Fed rate hikes expected in March.”While the data clearly shows an objective flat area on the futures term structure curve, it suggests somewhat more subtly that investors are not expecting a significant bullish breakout through the end of 2022. The annualized premium on futures is only at 6% right now. Annualized premium is the value above a dollar that a person will pay for the risk of a futures contract. A higher premium indicates a higher risk appetite.On-chain data analysis from Glassnode shows that Bitcoin investors are hedging out risks in order to stay protected against Federal Reserve interest rate hikes in March.More evidence of a lack of investor confidence is the slow but steady deleveraging through voluntary closure of futures positions. Such de-risking has resulted in what Glassnode sees as a decline in total futures open interest from 2% to 1.76% of the total crypto market cap. This trend hints at a “preference for protection, conservative leverage, and a cautious approach to storm clouds on the horizon.”Fundstrat managing partner Tom Lee agrees that there are hard times ahead for traditional investments like bonds. He told CNBC on Feb. 14 that due to an interest rate reversal, “for the next 10 years, you’re guaranteed to lose money owning bonds… that’s almost $60 trillion of the $142 trillion.”However, Lee noted that the $60 trillion is likely to go into crypto where investors can continue to earn yield that matches or may even outperform the yields they earned from bonds. He said:“I think what is more likely is a lot of speculative capital from equities… it’s really going to be tracing its roots to a rotation out of bonds and it’s going to eventually flow into crypto.”Exchange outflows continueDespite market participants clearly shedding risk ahead of the Fed rate hike, Bitcoin outflows from exchanges are still vastly outweighing inflows. For the past three weeks, net outflows have reached a rate of 42,900 BTC per month. This is the highest rate of outflow since last October as the price of BTC led up to a new all-time high of around $69,000 in November. Long-term holders of Bitcoin (those that have kept their Bitcoin dormant for at least 156 days) are maintaining steady control over the circulating supply by holding about 13.34 million BTC. Since the October 2021 high, long-term holders have relinquished only 175,000 BTC, showing support for the recent $33,000 low and demand for more coins.Related: Bitcoin price consolidates in critical ‘make or break’ zone as bulls defend $42KBitcoin is currently up 4.19% over the past 24 hours and trading at $43,552 according to Cointelegraph.

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Canada invokes ‘Emergencies Act’ targeting crowdfunding and crypto

Canada invokes ‘Emergencies Act’ targeting crowdfunding and crypto

Uverejnil používateľ | feb 15, 2022 |

Canadian Prime Minister Justin Trudeau has invoked the Emergencies Act, which gives him the power to freeze Freedom Convoy protesters’ bank accounts and monitor “large and suspicious transactions,” including crypto.Deputy Prime Minister Chrystia Freeland said in a press conference on Feb. 14 that this latest tactical maneuver against the protesters broadens the scope of Terrorist Financing rules. It targets “crowdfunding platforms and the payment service providers they use.” “These changes cover all forms of transactions including digital assets such as cryptocurrencies.”Together, protesters had amassed over $19 million in funds through the fundraising platforms GoFundMe and GiveSendGo. However, those funds have been blocked from reaching the convoy, leading some to organize a fundraising round using Bitcoin (BTC). The HonkHonk Hodl group raised 22 BTC valued at nearly $1 million through the Tallycoin BTC fundraising platform. HonkHonk Hodl closed their Tallycoin page on Feb. 15 because they had exceeded their fundraising goal. Those funds are still expected to be distributed to protesters.The Tallycoin bitcoin fundraiser supporting the Canadian Freedom Convoy protests has been voluntarily shutdown by organizers. Known private key holders have transferred funds to new key holders. pic.twitter.com/9cgwlaroZ1— no bullshit bitcoin (@nobsbitcoin) February 14, 2022GoFundMe cooperated with Canadian officials and refunded donors, but GiveSendGo has experienced an information leak exposing the identity of “thousands of names of those who donated to the Freedom Convoy” according to The Daily Dot writer Michael Thalen. There is no word yet on the fate of the Convoy’s funds.A file allegedly containing tens of thousands of names of those who donated to the Freedom Convoy has also been leaked.Working to verify further details.— Mikael Thalen (@MikaelThalen) February 14, 2022

BBC News reported that Quebec Premier Francois Legault said prior to Trudeau’s announcement that invoking the Emergencies Act could “throw oil on the fire.” However, Trudeau insisted the emergency powers would be “applied temporarily and in a highly specific manner.”The Canadian Civil Liberties Association contended today that the Prime Minister has overstepped his authority by invoking the Emergencies Act. It said, “The federal government has not met the threshold necessary to invoke the Emergencies Act.”“This law creates a high and clear standard for good reason: the Act allows government to bypass ordinary democratic processes. This standard has not been met.”Related: Crypto donations jumped nearly 16x in 2021, new report saysFor now, it is still unclear as to what specific payments will be blocked. In the press conference, Freeland only noted that all crowdfunding platforms are required to report “large and suspicious transactions” to Fintrac, The Financial Transactions and Reports Analysis Centre of Canada. Crypto supporters such as Pylon Holding Company founder Preston Pysh have shared sardonic delight at the possibilities for adoption that the Freedom Convoy has made apparent. Pysh tweeted today in response to Freeland, “What an advertisement for Bitcoin.”And there it is…things are starting to get spicy. What an advertisement for #Bitcoin. Bitcoin = freedomAnd don’t forget it. https://t.co/EEPh8RBk0H— Preston Pysh (@PrestonPysh) February 14, 2022

BTC prices have reacted with a 2.6% gain over the past couple of hours to trade at $43,667 at the time of writing. 

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RBI deputy governor: banning crypto 'most advisable choice'

RBI deputy governor: banning crypto 'most advisable choice'

Uverejnil používateľ | feb 15, 2022 |

T. Rabi Sankar from the Reserve Bank of India compared cryptocurrency to ponzi schemes and said that banning them, not regulating them, would be the “most advisable choice” for the Indian government.Sankar, the deputy governor for the RBI, told audiences at a keynote address on Feb. 14 that “We have also seen that cryptocurrencies are not amenable to definition as a currency, asset or commodity.””Cryptocurrencies are not currencies, or financial assets or real assets or even digital assets. Therefore, it cannot be regulated by any financial sector regulator. It is not possible to regulate something that one cannot define.”Sankar feels that regulating crypto would ultimately be condoning its use as a store of value and even a currency in some cases. Merely regulating it could be akin to encouraging its use within the framework laid out by the government. However, he acknowledges that some people will still use crypto if it is banned, just as “drug trafficking is a rampant phenomenon despite a ban.” He also pointed out that permitting cryptocurrency to exist in a fiat-dominated ecosystem “is bound to have a destabilizing effect on the monetary and fiscal stability of a country.” If crypto is regulated so that it can be used as an investment asset, Sankar said that its utility will rise as a store of value, and could draw more users away from the Rupee.Sankar attacked the true value of cryptocurrencies by saying:“Also, unlike the value of Rupee, which is anchored by monetary policy and its status as legal tender, the value of crypto assets rests solely on the expectation that others will also value and use them.”India is one of many countries where crypto companies and lawmakers have demanded greater regulatory clarity to guide their actions. Without such clarity, it is difficult for businesses to formulate long-term plans for their products and services that they are sure will not break any laws. Related: MIT, Boston Fed give digital dollar CBDC a modest test runOn Feb. 11, finance minister Nirmala Sitharaman said that she would not immediately decide whether to legalize or ban crypto leaving India in a prolonged state of regulatory limbo. The Indian government has been experimenting with its capabilities in deploying a central bank digital currency (CBDC). Sitharaman revealed on Feb. 1 that she expected to launch a digital rupee program by 2023 to boost economic growth.

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Ontario government freezes millions more in donations to Freedom Convoy

Ontario government freezes millions more in donations to Freedom Convoy

Uverejnil používateľ | feb 11, 2022 |

The Ontario Provincial government in Canada has been granted an order from the Superior Court of Justice to freeze millions of dollars in donations on the GiveSendGo platform from reaching the Freedom Convoy protesters.This is the second time the truckers have been denied access to funds since GoFundMe froze $10 million in donations last week and later refunded donors following a backlash.The latest attempt to defund the protest pertains to donations made to the “Freedom Convoy 2022” and “Adopt-a-Trucker” pages on the GiveSendGo fundraising platform. As of Thursday, “Freedom Convoy 2022” had raised $8.4 million and “Adopt-a-Trucker” had received $686,000.The Post Millennial writer Ian Miles Cheong tweeted today:“Bitcoin fixes this… They’d have to make cryptocurrency illegal in Canada.”Benjamin Dichter, one of the organizers of the fundraiser, agreed with Cheong. He tweeted today that, “This is good for Bitcoin.”A group of supporters earlier formed the HonkHonk Hodl organization specifically to help the convoy raise funds in Bitcoin. As of the time of writing, the group had raised 21 BTC ($902,000).Bitcoin payment processor OpenNode wrote last year that the BTC payment solution is a viable alternative for people who have been censored by traditional payment methods.“One of the benefits of Bitcoin is its censorship resistance. Without any central authority to dictate who can and can’t use Bitcoin, it has proven to be the currency of choice for many individuals and organizations who have been left out of traditional payment methods.”OpenNode wrote that accepting BTC donations spreads awareness of Bitcoin among donors and receivers, and encourages adoption.Related: Protesters migrate to crypto fundraising platform following GoFundMe banHowever there is debate over whether the Ontario government is able to freeze the funds. GiveSendGo tweeted today that a Canadian government has no control over how funds are managed on its U.S. based platform. The company assured protestors that: “All funds for EVERY campaign on GiveSendGo flow directly to the recipients of those campaigns.”Know this! Canada has absolutely ZERO jurisdiction over how we manage our funds here at GiveSendGo. All funds for EVERY campaign on GiveSendGo flow directly to the recipients of those campaigns, not least of which is The Freedom Convoy campaign.— GiveSendGo (@GiveSendGo) February 11, 2022However, Toronto Sun political columnist Brian Lilly pointed out that even though GiveSendGo is based in Boston, the Canadian court order prevents any Canadians from accessing the funds. He said “Withdrawing it in the US and sending it here would be a violation.”

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