Autor Cointelegraph By Brian Newar

Tezos scores $27M deal with Man United, Baby Doge backs Hoffenheim

Tezos scores $27M deal with Man United, Baby Doge backs Hoffenheim

Uverejnil používateľ | feb 4, 2022 |

Manchester United, one of the world’s most popular soccer (or football) teams is reportedly set to announce a multi-year training kit sponsorship by Proof-of-Stake blockchain platform, Tezos.First reported by The Athletic, the deal is apparently in excess of $27 million per year, allowing Tezos to place its logo on the team’s training uniform. Manchester United have reportedly finalized filming  promotional material ahead of the official announcement.The report also speculates that the partnership may involve collaboration in the technology space, such as a Metaverse or other Web3 project.Tezos has made heavy investment into sports sponsorships. In May 2021, RedBull racing announced Tezos as its official blockchain partner. Tezos to build its first NFT fan experience which was launched in November later that year.A similar announcement by McLaren Racing a month later saw Tezos as its Official Technical Partner in a multi-year deal across its Formula 1, INDYCAR and esports teams, and the Tezos network was used in the launch of McLarens NFT collection in October 2021.Manchester United is in the top tier of pro-English football dubbed the English Premier League (EPL). It joins several other EPL clubs who have either penned sponsorship deals or fan token partnerships. In August 2021, Dogecoin partnered with Watford FC as its shirt sleeve sponsor for the 2021-22 season, with players sporting the coins’ famed meme logo on their arm. Manchester City, Arsenal and Wolverhampton Wanderers FC have all launched fan tokens on various platforms such as Socios and Bitci. Baby Doge partners with German football clubMeanwhile Doge and Shiba Inu inspired meme coin, Baby Doge Coin ($BABYDOGE), has announced it has partnered with professional football club, TSG Hoffenheim, a team in the Bundesliga, Germany’s top football league.In an annoucement Hoffenheim confirmed that Baby Doge will become an official partner of the club, working together on the development of club-specific NFTs. The deal also includes what the club calls “key promotional materials” which will see Baby Doge advertised on LED boards around the pitch at the team’s home games, as well as co-branded content.Related: Automakers are minting NFTs, but is there a strong use case?”TSG Hoffenheim are happy to be working together with such an innovative and leading brand like Baby Doge. We are excited and looking forward to a successful partnership, where we’ll bring an NFT collection from the club and other exciting projects to life,” said Denni Strich, Hoffenheim’s CEO.Mike Watson, Project Manager for Baby Doge, stated that the deal would expand its presence in the global market and in the European Union and it would continue to form strategic partnerships to extend its reach as a community-centred project by establishing itself as a player in the sports world.A similar canine based meme coin, Floki Inu, which was created after Elon Musk tweeted he was naming his Shiba Inu “Floki”, also scored a partnership deal with Italian professional football club, S.S.C Napoli in November 2021.The deal saw Floki Inu’s logo — a cartoon Shiba Inu wearing a viking helmet — displayed on the backside of Napoli players’ jerseys and, similar to Baby Doge’s deal, saw Floki Inu’s logo displayed on LED signs at the Napoli home stadium.

Čítaj viac
Japanese government considers relaxing strict coin listing rules

Japanese government considers relaxing strict coin listing rules

Uverejnil používateľ | feb 4, 2022 |

The Japanese government is considering a proposal to make it easier for registered crypto exchanges to list digital assets in the local retail trading market.Sources quoted in Bloomerg said that if the new rules are passed, exchanges that have registered with the Financial Services Agency (FSA) would be able to list certain assets without performing a lengthy screening process. Digital assets that have been listed for more than six months on at least three domestic exchanges would be exempted from additional screening. For example, exchanges would find it easier to list Bitcoin (BTC) and Ether (ETH) if the proposal passes.There has not yet been a final decision on the rule change. Current listing rules require prospective coins to undergo an extensive screening process which can take over six months to complete. Members of the Japan Virtual and Crypto Exchange Association (JVCEA) have complained that the stringent screening process has precluded the $1 trillion Japanese crypto industry from growing in a significant way. Members of the JVCEA have reportedly argued that changing the existing rules to allow for expedient processing could increase Japanese involvement in the global crypto markets. As of now, Coincheck and GMO Coin have 17 listed coins each, making them the biggest exchanges in Japan by number of listings. Japanese exchanges have lagged far behind global exchanges which have coins listed by the hundreds in the case of top exchanges such as Coinbase and Binance.The proposed rules come at an interesting time as both Coinbase and FTX have entered the competitive Japanese crypto market with subsidiaries registering crypto exchanges.Related: Major crypto exchanges eye Asian market amid growing regulatory clarityOn Feb. 2, Sam Bankman-Fried’s FTX exchange acquired Liquid Group, the operator of the Japanese registered Quoine crypto exchange. Quoine will eventually eventually “integrate FTX’s existing products and services into its own offerings.”Last August, Coinbase partnered with Mitsubishi UFJ Financial Group (MUFG) to launch a branch of its exchange. The partnership with MUFG provides users with a fiat on-ramp and off-ramp.

Čítaj viac
Reports Bored Ape creator in talks with A16z: Potential valuation $5B

Reports Bored Ape creator in talks with A16z: Potential valuation $5B

Uverejnil používateľ | feb 4, 2022 |

Silicon Valley tech VC Andreessen Horowitz (A16z) is reportedly eying an investment in Bored Ape Yacht Club creator Yuga Labs, with a reported valuation as high as $5 billion.Sources for the Financial Times revealed that Yuga Labs is seeking funding for a multi-million dollar piece of the company. If a deal is secured, it would mark the first institutional investment Yuga Labs has accepted as its popular nonfungible token (NFT) collection has become one of the biggest in the industry. The terms of the deal have not yet been set and negotiations may be canceled outright. Neither A16z nor Yuga Labs have confirmed the talks pBored Ape Yacht Club (BAYC) is currently the second-most traded collection on the largest NFT marketplace OpenSea, with 380,821 ETH ($1 billion) in total traded volume. At its February launch, it cost users just $300 to mint an Ape. The collection now boasts a floor price of 99 ETH ($263,839) at the time of writing. Major celebrities such as Justin Bieber and Paris Hilton have publicly revealed they own Apes.Yuga Labs entered 2022 with only 11 full-time employees on staff. However, the company stated that it has always had the ambition to be a “community-owned brand” in a Jan. 4 tweet.6. Where do you see the future of the club?We see ourselves as temporary stewards of IP that is in the process of becoming more and more decentralized. Our ambition is for this to be a community-owned brand, with tentacles in world-class gaming, events, and streetwear.— Yuga Labs (@yugalabs) January 3, 2022It should come as little surprise that A16z is involved in investment discussions with Yuga Labs. The investment firm’s crypto portfolio includes 41 companies including NFT-based projects OpenSea, Autograph, and Cryptokitties. Both of the core teams for those projects, however, are publicly known, unlike the pseudonymous team that leads Yuga Labs.A16z wants to expand its exposure to crypto by hunting for $4.5 billion in funds, which would solidify its position as one of the major crypto investment firms. Institutional interest in Yuga Labs demonstrates that the NFT space as a whole may be set to enter a new phase in its maturity. In 12 months, trading volume on NFTs has grown from just $20,000 per day on Jan. 26 2021 to over $5 billion on OpenSea. Related: NFTs are ‘Stayin’ Alive’ as new minting trends, AI and music-based projects thriveFurthermore, new NFT platforms on various blockchains designed for niche content have been popping up since last year. NFL superstar Tom Brady entered the NFT space last year by co-founding the Autograph NFT marketplace for artists and athletes, in which A16z participated in a $170 million funding round last month.

Čítaj viac
Court victory precedent: IRS may not tax staking rewards until sold

Court victory precedent: IRS may not tax staking rewards until sold

Uverejnil používateľ | feb 3, 2022 |

A Nashville couple’s lawsuit over taxes they paid on unclaimed and unsold Tezos staking rewards is coming to an end with the Internal Revenue Service (IRS) agreeing to issue them a refund.The decision may set a precedent for future guidance on how crypto rewards earned through staking are taxed. At present Proof-of-Stake staking rewards are classified as income, with tax payable as they are gained. The new development suggests they should be only taxed when they are sold for USD. The Jarretts filed a complaint against the United States government in May 2021 which stated that the 8,876 Tezos (XTZ) tokens they created in 2019 were not income and should not have been taxed as such. The complaint also claimed that the government was attempting to do something “unprecedented, which is tax creative activity rather than income.”“Taxing newly created cakes, books, or tokens as income would have far-reaching and detrimental effects on taxpayers and the U.S. economy, and is without support in the Internal Revenue Code, regulations, caselaw, or the Constitution.”According to court filings expected to be made public on Thursday the IRS declared it would follow through with the Jarretts’ request to refund with ”statutory interest as provided by the law” the $3,793 that the Jarretts paid for their unclaimed rewards last year.As of yet, guidance on how to tax unclaimed staking rewards is lacking. The IRS asks taxpayers whether they have “received, sold, exchanged, or otherwise disposed of any financial interest in any virtual currency”, but none of those descriptors seem to pertain directly to the Jarretts’ unsold and unclaimed rewards. Related: Crypto tax calculator CoinTracker valued at $1.3B following $100M raiseForbes reported that sources close to the matter say the couple plans to pursue the case further in court to obtain longer-term protection and set a nationwide precedent. American taxpayers are likely praying that no legislative response to this court outcome resembles the U.K. regulator’s new guidance on crypto staking. There, staking crypto will often be considered as the sale of tokens and will incur capital gains tax.

Čítaj viac
‘Philly is ready’ for CityCoins says city council

‘Philly is ready’ for CityCoins says city council

Uverejnil používateľ | feb 3, 2022 |

Philadelphia is on the cusp of following in the footsteps of Miami, Austin and New York City by partnering with CityCoins to develop a crypto for the city of Brotherly Love.Philadelphia Mayor Jim Kenney has endorsed the concept and told government news media site Statescoop that his office is “enthusiastic about the potential of donations from a CityCoins program to target pressing problems in the city.” Philly’s Chief Information Officer and apparent Bitcoin (BTC) supporter Mark Wheeler said that “Philly is ready” to begin working with CityCoins in a Jan. 31 tweet. @mineCityCoins – Philly is ready. to proceed.— Mark Wheeler markaroo.btc (@Wheelmrk) January 30, 2022CityCoins is a software application on the Stacks (STX) blockchain that helps city governments create a unique cryptocurrency. Transactions on Stacks settle on the Bitcoin network.New York City and Miami are already using CityCoins to increase their treasury holdings. Thirty percent of mined STX tokens are sent to the city’s wallet then sold for USD which goes directly into the city treasury. Miners retain the rest.In a Feb. 1 interview, Wheeler indicated that the city would begin formally vetting CityCoins to ensure that any potential partnership they enter into together complies with existing laws concerning cryptocurrency.Wheeler addressed the environmental concern of adopting a program that utilizes a Proof-of-Work blockchain like Bitcoin. He pointed out that CityCoins doesn’t require users to use any additional hardware which could generate further harm to the environment. He told Statescoop on Feb. 1:“I think we can simply say, ‘This isn’t Bitcoin and it’s not requiring new servers to be set up and it’s not requiring intensive energy use.’ I think that’s a valid, verifiable statement.”Last November, Wheeler announced that Philadelphia would work toward adding blockchain technology to the city’s government. He took the city of Miami as inspiration for the initiative.Miami launched its MiamiCoin with CityCoins last August to help the city raise funds which Mayor Francis Suarez said could be used to cover the tax burden for all of its residents.Related: MiamiCoin has now raised $24.7 million… but who will benefit?New York City launched its NYCCoin in a partnership with CityCoins last November. As with MiamiCoin, NYCCoin miners receive STX and BTC rewards for supplying the city with tokens.Austin, Texas has also entered into a partnership with CityCoins, but mining has not yet begun.

Čítaj viac

Získaj BONUS 8 € v Bitcoinoch

nakup bitcoin z karty

Registrácia Binance

Burza Binance

Aktuálne kurzy