Amnesty International head says AI innovation vs. regulation is ‘false dichotomy’

November 28, 2023 Coin Telegraph

Amnesty’s secretary-general said the EU has a chance to lead with new AI regulations and member states shouldn’t “undermine” the forthcoming AI Act.

The secretary-general of Amnesty International, Anges Callamard, released a statement on Nov. 27 in response to three European Union member states pushing back on regulating artificial intelligence (AI) models.

France, Germany and Italy reached an agreement that included not adopting such stringent regulations for foundation models of AI, which is a core component of the EU’s forthcoming EU AI Act.

This came after the EU received multiple petitions from tech industry players asking the regulators not to over-regulate the nascent industry.

However, Callamard said the region has an opportunity to show “international leadership” with robust regulation of AI, and member states “must not undermine the AI Act by bowing to the tech industry’s claims that adoption of the AI Act will lead to heavy-handed regulation that would curb innovation.”

“Let us not forget that ‘innovation versus regulation’ is a false dichotomy that has for years been peddled by tech companies to evade meaningful accountability and binding regulation.”

She said this rhetoric from the tech industry highlights the “concentration of power” from a small group of tech companies who want to be in charge of the “AI rulebook.”

Amnesty International has been a member of a coalition of civil society organizations led by the European Digital Rights Network advocating for EU AI laws with human rights protections at the forefront.

Callamard said human rights abuse by AI is “well documented” and “states are using unregulated AI systems to assess welfare claims, monitor public spaces, or determine someone’s likelihood of committing a crime.”

“It is imperative that France, Germany and Italy stop delaying the negotiations process and that EU lawmakers focus on making sure crucial human rights protections are coded in law before the end of the current EU mandate in 2024.”

Recently, France, Germany and Italy were also part of a new set of guidelines developed by 15 countries and major tech companies, including OpenAI and Anthropic, which suggest cybersecurity practices for AI developers when designing, developing, launching and monitoring AI models.

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German parliament member ’staunch opponent’ of digital euro, all in on Bitcoin

November 16, 2023 Coin Telegraph

Bitcoin Community

European Union lawmakers anticipate the arrival of the digital euro, but German politician Joana Cotar is pushing back against the currency and fighting in favor of Bitcoin.

The European Union has been actively preparing for what it envisions as the future of money. In the past year, it finalized its landmark comprehensive crypto legislation, the Markets in Crypto-Assets Regulation (MiCA), which is due to take effect in 2024 after closing its second consultation in October.

It has also made progress in its plan to introduce a central bank digital currency (CBDC), which is coming to fruition as the “digital euro.” De Nederlandsche Bank, the central bank of the Netherlands, has described it simply as an “electronic form of public money - the coins and notes in our wallets.”

Many local regulators are embracing the digital euro and touting its potential benefits, though not everyone is on board. In a recent survey out of Spain, 65% of Spaniards said they were not interested in using the digital euro.

Slovakia’s parliament even passed a measure in June that amended its constitution to codify a citizen’s right to pay for goods and services with cash in the face of the impending digital currency.

In Germany, one local politician is not only against the digital euro but is offering another digital solution for a financial revolution: Bitcoin (BTC).

Cointelegraph spoke with Joana Cotar, a member of the Bundestag — the German federal parliament — and a Bitcoin activist, about her take on the digital euro and why she believes in the benefits of Bitcoin.

Cotar has been outspoken on her stance on the EU’s digital monetary solution, which she told Cointelegraph is that of “a staunch opponent of the digital euro.”

"Nobody needs the digital euro,” says Member of Germany’s Parliament while wearing a #Bitcoin T-shirt. pic.twitter.com/Rw4qdeKE0h
— Bitcoin Archive (@BTC_Archive) November 11, 2023

She said a digital euro could allow central banks to set an “upper limit” for payments and ownership, making citizens “helplessly at [their] mercy.”

The digital Euro would also mean that each and every one of us could be totally monitored. As a convinced libertarian, I emphatically reject this. Anyone who is against surveillance and for freedom does not need a digital Euro!

According to Cotar, the Chinese social credit system should serve as a warning of the possibilities of the absence of cash and state-controlled payment systems. “I don’t want the authorities to be able to spy on our private life and misuse this data,” she said.

However, in April the program director for the digital euro at the European Central Bank, Evelien Witlox, said that the “ECB has no interest in users’ personal data.” In October, the EU’s data protection regulators issued a joint statement regarding anonymity in digital euro transactions.

Cotar is using her platform, among other things, to raise awareness among lawmakers of the potential dangers she believes to be associated with the digital euro.

While Cotar may not be on board for a digital euro, she is a champion of Bitcoin. She is behind the “Bitcoin in the Bundestag" initiative, which she told Cointelegraph is committed to raising awareness and educating members of the German Bundestag (MPs) about the potential and risks of Bitcoin.

“Establishing a formal Bundestag committee that recognizes the technological differences between Bitcoin and other crypto assets and mainly deals with the importance of Bitcoin for our society is very important for us.”

She said her initiative serves as an information resource for members of the Bundestag and helps them make more informed decisions about Bitcoin specifically.

When she explained her greater vision for bringing Bitcoin into regulators’ consideration, one major change she’d like to see is the allowance to pay taxes and fees paid in Bitcoin and using Bitcoin mining farms to stabilize the power grid.

“We need to promote the freedom aspects of Bitcoin (permissionless access, individual sovereignty) - this includes protecting privacy, ensuring security standards and preventing excessive regulation to maximize the benefits of Bitcoin.

Cotar would also like to initiate a “preliminary examination” for a legal framework that would recognize Bitcoin as a legal tender in Germany. “This includes ensuring the legal security for companies and citizens,” she said.

Wenn einem eine 72 Jahre alte Dame schreibt, dass sie #Bitcoin für ihre Enkel spart. Wie großartig kann man bitte sein? Mit über 70 mehr Durchblick als so manch Jungspund.
— Joana Cotar (@JoanaCotar) November 13, 2023

“We need to combat potential risks such as money laundering, tax evasion and other illegal activities associated with Bitcoin,” she said. "But without stifling innovation and the freedom aspects of Bitcoin.”

The Bitcoin-savvy lawmaker said her ideas for Germany could “easily be transferred” as a framework for other countries. She urges international cooperation to develop a blanket standard for Bitcoin and its cross-border use.

When asked if she feels similarly impassioned for other cryptocurrencies currently available on the market, her response was simply:

“My initiative is Bitcoin only.”

On Oct. 18 he European Central Bank (ECB) has announced it will begin the ”preparation phase” for the digital euro project following a two-year investigation into the potential EU-wide digital currency.

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Commerzbank granted crypto custody license in Germany

November 15, 2023 Coin Telegraph

Coin Telegraph

The German bank Commerzbank is the first full-service bank in the country to receive a crypto custody license from local regulators.

The German bank Commerzbank has been granted a crypto custody license by local regulators, according to an announcement released by the lender on Nov. 15.

Commerzbank says it is the first “full-service” German bank to be granted this license in the country under the legal framework of the German Banking Act (KWG). This allows it to offer custody of crypto assets and will enable it to offer “further digital asset services.”

Dr. Jörg Oliveri del Castillo-Schulz, the chief operating officer of Commerzbank, said that acquiring the license is an “important milestone.”

“This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets.”

The bank says its first step now is to establish a platform that is both “secure and reliable” and fully complies with local regulations while supporting its institutional clients through crypto custody services via blockchain.

Cointelegraph reached out to Commerzbank for further information on the development.

This development from Commerzbank follows similar news out of Germany, as its third-largest bank, DZ Bank, revealed its crypto custody offerings for institutional investors on Nov. 6.

DZ Bank announced its new platform for processing and storing digital financial instruments. It also said it applied for a crypto custody license in June of 2023 to allow institutional investors and private customers to buy cryptocurrencies.

In September, the United States crypto custody firm BitGo received a license from the German Federal Financial Supervisory Authority (BaFin) to expand its compliance with local regulations after three years of operating its dedicated local subsidiary.

The crypto-landscape in Germany has gained significant momentum over the last year. In March, the Deutsche WertpapierServiceBank (Dwpbank) launched its wpNex crypto trading platform that began to offer 1,200 banks and savings banks in Germany access to the digital asset industry.

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Frankfurt Stock Exchange includes crypto trading facility in strategy-2026

November 9, 2023 Coin Telegraph

Coin Telegraph

Deutsche Börse, the largest stock exchange in Germany, says it will accelerate the development of its blockchain-backed D7 digital securities registry and build a trading platform for digital assets.

Deutsche Börse AG, the German stock exchange headquartered in Frankfurt, has included crypto in its strategic priorities for the next few years.

According to the strategic report “Horizont 2026”, published on Nov. 7, Deutsche Börse seeks “an expansion of the leading position in the area of digital platforms for existing and new asset classes.”

The company believes that, in the long run, there is “further growth potential from new technologies through the digitalization of existing or new asset classes.” Hence, it intends to accelerate the development of its blockchain-backed D7 digital securities registry and build a trading platform for digital assets.

The digital asset platform will serve only institutional investors and facilitate tokenization, trading, settlement and custody services for securities, alternative assets and cryptocurrencies. The presentation also mentions stablecoins and central bank digital currencies (CBDCs), although their status on the potential platform is not specified.

Deutsche Börse won’t be the first stock exchange to delve into digital assets trading. Germany’s second-largest stock exchange, Boerse Stuttgart, started offering its customers cryptocurrency trading in April 2022. London Stock Exchange Group is set to provide clearing services for dollar-denominated, cash-settled Bitcoin index futures and options contracts in 2024.

The Frankfurt stock exchange is in no way a novice to crypto. In 2021, its digital exchange, Deutsche Börse Xetra, listed the Litecoin exchange-traded product (ETP) from a London-based ETC Group.

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Crypto banking app Bitwala relaunches via new partnership with Striga

November 8, 2023 Coin Telegraph

Bitwala

European crypto-banking platform Bitwala, formerly known as Nuri, is coming back after ceasing operations in 2022.

European cryptocurrency banking platform Bitwala, formerly known as Nuri, is coming back after ceasing operations and returning customer funds last year.

Bitwala is relaunching operations under its original name in partnership with the support of the banking infrastructure company Striga, the firms said in a joint announcement to Cointelegraph on Nov. 8.

As part of the partnership, Striga is providing Bitwala with “Banking and Crypto-as-a-Service,” enabling the crypto banking app to draw on its trading and card-issuing functionality, Bitwala CEO Dennis Daiber said.

Bitwala, which rebranded as Nuri in 2021, filed for insolvency in August 2022, citing liquidity issues coming amid a massive crypto bear market that was triggered by the Terra crash. The firm eventually shut down operations in October 2022, asking its 500,000 users to withdraw their assets before the year-end deadline.

“We wanted to build a bank. We had all the documents, audits, applications and approvals — the only thing missing was 50 million euros for liquidity coverage ratio and runway,” Daiber told Cointelegraph. He added:

“We had also hired ‘optimistically’ for the bank. At peak, we had 250 employees. Unfortunately, in the midst of the fundraising process, Celsius, FTX, Terra/Luna and Ukraine ‘happened,’ which caused all investors to refrain from investing. Thus, we ran out of money.”

According to the announcement, the Striga partnership solved one of the key challenges that Bitwala was facing by providing compliant digital assets and banking infrastructure out of the box “without the need to handle any regulatory burden.” Founded in 2018, Striga provides financial services infrastructure for companies in crypto and banking. The firm is incorporated in Estonia and is a fully-owned subsidiary of Lastbit, which is incorporated in Delaware, the United States.

The Bitwala app is immediately accessible in 29 countries within the European Economic Area, allowing users to buy and sell Bitcoin (BTC) and Ether (ETH) with the euro using Single Euro Payment Area transfers, the announcement notes. Future plans for the platform include integrating the Lightning Network and introducing a crypto-backed Visa debit card, all of which are being developed in collaboration with Striga.

The return of Bitwala marks a major milestone in the history of the firm, which has faced many challenges since it was founded in Germany in 2015. The firm is known for partnering with now-bankrupt crypto lender Celsius to offer annual interest on Bitcoin in 2020.

“Jan Goslicki, one of the original co-founders, and myself — I have known the founders since 2011 and jumped on board at Bitwala as Head of Trading in 2018 — are crypto-first, Bitcoin-minimalistic believers in the mission and vision of Bitcoin,” Bitwala CEO Daiber told Cointelegraph.

The exec stressed that Bitwala’s relaunched product is centered around the self-custodial Wallet, which provides 100% secure self-storage of users’ crypto. Daiber added:

“With this, we are going back to the roots of Bitwala 1.0 from 2015, shedding all ambitions to become a Bank or build an unnecessary complex business.”

The CEO noted that Bitwala will focus on enabling everyday usage of Bitcoin via on- and off-ramp, as well as the Visa card, which will launch later this week.

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DZ Bank, third-largest German bank, to start crypto custody for institutional investors

November 6, 2023 Coin Telegraph

Banks

DZ Bank AG launches its own digital assets custody platform, built on blockchain.

DZ Bank AG, the third largest bank in Germany by asset size, has launched its own digital assets custody platform built on blockchain. According to an announcement published on Nov. 2, the platform will work with institutional clients, offering them crypto securities, such as the crypto bond from Siemens, which DZ Bank had subscribed to six months ago.

Holger Meffert, Head of Securities Services & Digital Custody at DZ, expressed the bank’s interest in the distributed ledger technology (DLT):

“We assume that within the next ten years, a significant proportion of capital market business will be processed via distributed ledger technology (DLT)-based infrastructures. In the medium term, we see DLT as a complementary technology to the established infrastructures in the existing capital market processes.”

The bank also hopes to offer institutional investors and private customers the facility to buy cryptocurrencies, “such as Bitcoin,” in the future. To achieve that, DZ has applied for a crypto custody license from the Federal Financial Supervisory Authority (BaFin) in June 2023.

Cointelegraph has recently paid attention to the German banks’ shift toward crypto, despite the country’s strict industry regulatory regime. More and more institutions are finding ways to allow customers access to cryptocurrencies.

In March 2023, Deutsche WertpapierServiceBank (Dwpbank) took an important step with the launch of its wpNex crypto trading platform, which gives 1,200 banks and savings banks in Germany access to the digital asset industry. Asset management group DWS, majority-owned by Deutsche Bank, announced it was working on exchange-traded products of cryptocurrencies in the European market and developing other digital solutions that will give investors access to blockchain applications and digital assets.

Other traditional banks, including Commerzbank and DekaBank, are also seeking crypto custody licenses from Germany’s financial watchdog, the Federal Financial Supervisory Authority (BaFin).

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US crypto custody firm BitGo wins BaFin license in Germany: Report

November 1, 2023 Coin Telegraph

BaFin

BitGo originally announced it was setting up two regulated custodial entities in Germany and Switzerland in February 2020.

Major cryptocurrency custody firm BitGo is reportedly expanding its regulatory compliance in Germany more than three years after launching a dedicated local subsidiary.

BitGo has obtained a cryptocurrency license from the German Federal Financial Supervisory Authority (BaFin), according to a Nov. 1 report by Finance Magnates. The firm has been storing crypto assets like Bitcoin (BTC) for its clients since 2019 under the supervision of BaFin as part of a transitional regime, the report notes.

The German license secures BitGo's presence in the European market and is an important milestone for BitGo, BitGo Europe managing director Dejan Maljevic said.

“BaFin is recognized as one of the world’s key trendsetters in crypto regulation,” Maljevic noted, adding that the license “enables the progress that digital currencies entail while creating a secure regulatory framework.”

BitGo and BaFin have not yet responded to Cointelegraph’s request for comment.

Headquartered in Palo Alto, California, BitGo originally set up two regulated custodial entities in Germany and Switzerland in February 2020. BitGo’s German subsidiary, BitGo Deutschland GmbH, immediately started providing custody services in Germany and was expected to apply for regulatory approval in November 2020.

BitGo then secured a New York Trust license in March 2021, which allowed the firm to operate as an independent custodian in the state.

The news comes shortly after BitGo raised $100 million in a Series C financing round in August 2023, bringing the company’s valuation to $1.75 billion. Backed by major investment firms like Goldman Sachs and Galaxy, BitGo reportedly initiated discussions regarding at least two prospective deals using the new funding.

BitGo’s regulatory milestone in Germany is another sign of growing cryptocurrency adoption in the country. According to an October 2023 report by Chainalysis, Germany is the second largest cryptocurrency economy in the Central, Northern and Western Europe region after the United Kingdom.

TikTok, Snapchat, OnlyFans and others to combat AI-generated child abuse content

October 31, 2023 Coin Telegraph

Coin Telegraph

Major social platforms, AI companies, governments and NGOs issued a joint statement pledging to combat AI-generated abusive content, such as explicit images of children.

A coalition of major social media platforms, artificial intelligence (AI) developers, governments and non-governmental organizations (NGOs) have issued a joint statement pledging to combat abusive content generated by AI.

On Oct. 30, the United Kingdom issued the policy statement, which includes 27 signatories, including the governments of the United States, Australia, Korea, Germany and Italy, along with social media platforms Snapchat, TikTok and OnlyFans.

It was also undersigned by the AI platforms Stability AI and Ontocord.AI and a number of NGOs working toward internet safety and children’s rights, among others.

The statement says that while AI offers “enormous opportunities” in tackling threats of online child sexual abuse, it can also be utilized by predators to generate such types of material.

It revealed data from the Internet Watch Foundation that, within a month of 11,108 AI-generated images shared in a dark web forum, 2,978 depicted content related to child sexual abuse.

The U.K. government said the statement stands as a pledge to “seek to understand and, as appropriate, act on the risks arising from AI to tackling child sexual abuse through existing fora.”

“All actors have a role to play in ensuring the safety of children from the risks of frontier AI.”

It encouraged transparency on plans for measuring, monitoring and managing ways AI can be exploited by child sexual offenders and on a country level to build policies regarding the topic.

Additionally, it aims to maintain a dialogue around combating child sexual abuse in the AI age. This statement was released in the run-up to the U.K. hosting its global summit on AI safety this week.

Concerns over child safety in relation to AI have been a major topic of discussion in the face of the rapid emergence and widespread use of the technology.

On Oct. 26, 34 states in the U.S. filed a lawsuit against Meta, the Facebook and Instagram parent company, over child safety concerns.

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G7 countries to launch AI code of conduct: Report

October 30, 2023 Coin Telegraph

Canada

The Group of Seven (G7) countries will agree on a voluntary AI code of conduct for companies developing AI to reference for mitigating risks and benefits of the technology.

The Group of Seven (G7) industrial countries are scheduled to agree upon an artificial intelligence (AI) code of conduct for developers on Oct. 30, according to a report by Reuters.

According to the report, the code has 11 points that aim to promote “safe, secure, and trustworthy AI worldwide” and help “seize” the benefits of AI while still addressing and troubleshooting the risks it poses.

The plan was drafted by G7 leaders in September. It says it offers voluntary guidance of actions for “organizations developing the most advanced AI systems, including the most advanced foundation models and generative AI systems.”

Additionally, it suggests that companies should publicize reports on the capabilities, limitations, use and misuse of the systems being built. Robust security controls for said systems are also recommended.

Countries involved in the G7 include Canada, France, Germany, Italy, Japan, the United Kingdom, the United States and the European Union.

Cointelegraph has reached out to the G7 for confirmation of the development and additional information.

This year’s G7 took place in Hiroshima, Japan, with a meeting held between all participating Digital and Tech Ministers on April 29 and 30.

Topics covered in the meeting included emerging technologies, digital infrastructure and AI, with an agenda item specifically dedicated to responsible AI and global AI governance.

The G7’s AI code of conduct comes as governments worldwide are trying to navigate the emergence of AI with its useful capabilities and concerns. The EU was among the first to establish guidelines with its landmark EU AI Act, which had its first draft passed in June.

On Oct. 26, the United Nations established a 39-member advisory committee to tackle issues related to the global regulation of AI.

The Chinese government also launched its own AI regulation, which began to take effect back in August.

From within the industry, the developer of the popular AI chatbot ChatGPT, OpenAI, announced that it plans to create a “preparedness” team that will assess a range of AI-related risks.

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How major German firms like Mercedes and Lufthansa are using NFTs

October 27, 2023 Coin Telegraph

Coin Telegraph

German brands embrace NFTs, exploring new ways to engage with customers and build brand loyalty.

For the most part, nonfungible tokens (NFTs) have two primary use cases: Buying and selling digital products (digital art, virtual fashion items) and building digital communities (exclusive memberships, access to events).

These use cases can be easily adopted by brands and companies, such as fashion brands selling digital clothes, various companies offering NFT-based club memberships and musicians holding exclusive concerts for their fans.

Traditional German companies are also jumping on the bandwagon, recognizing the potential of NFT technology to innovate and market their products and services.

Deutsche Post combines NFTs and AI

Deutsche Post, the German postal service, will release its first limited-edition collectible stamp on Nov. 2, 2023. A classic self-adhesive stamp will come with a digital image — an NFT representing ownership of the stamp.

The first stamp features a pixellated image of the Brandenburg Gate generated by artificial intelligence (AI). Upcoming stamps in the collection will feature other iconic German landmarks.

It remains to be seen whether the NFT stamp collection will be a commercial success. However, it is a significant step for Deutsche Post, which is looking to expand its reach into the digital world.

Erste offizielle Deutschland-#Krypto-#Briefmarke kommt. Mehr: https://t.co/IqcouOeygG pic.twitter.com/XS4y5nkFCo
— Deutsche Post und DHL News (@DeutschePostDHL) October 12, 2023

Lufthansa takes to the skies with NFT art

NFTs can also be used for various loyalty programs, offering customers a more rewarding and engaging experience while providing businesses with a new way to connect with their customers and build brand loyalty.

An example of such a program is Lufthansa’s NFT loyalty program on the Polygon network. In collaboration with Lufthansa Innovation Hub and Miles & More, its frequent flyer program, Lufthansa has developed the Uptrip mobile application that allows passengers to turn their travel experiences into NFTs. These NFTs can then be redeemed for rewards such as mileage bonuses and business lounge vouchers.

Lufthansa's @Uptrip_app loyalty program is building #onPolygon to turn flights into rewards
Collect NFT trading cards for every flight and claim rewards

Learn more about the new Miles & More and @LHInnovationHub experience: https://t.co/MjQihK8xUx pic.twitter.com/JfUEoUJxNR
— Polygon (Labs) (@0xPolygonLabs) August 31, 2023

According to Christopher Siegloch, head of program development and services at Miles & More, the app has already generated significant interest among Lufthansa customers. Since its launch, over 20,000 users have registered, and more than 200,000 collectible cards have been issued. Siegloch highlights that gamification elements play a crucial role in introducing participants to Web3 technologies like NFTs, and the app successfully translates the enthusiasm for collecting into the digital realm.

Furthermore, in the second half of 2023, the app will introduce a digital marketplace where users can trade and sell their NFTs, with special NFT reward offers planned for the future.

Adidas and Hugo Boss reimagine fashion

NFTs are also reaching out to fashion brands. For example, German apparel company Adidas continues to refine its Web3 strategy by actively using NFTs to find new ways to engage with its community of athletes, sneakerheads and sports enthusiasts.

Recently, Adidas introduced a series of limited-edition NFT sneakers inspired by their iconic footwear designs. These digital sneakers can be showcased in virtual environments, allowing users to express their love for the brand in the metaverse.

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Adidas is also discovering new ways to use the full potential of NFT to encourage its community. The last example is The Adidas /// Studio, or Triple Stripes Studio, which launched a Web3-based digital artist-in-residency program to showcase and support budding creators in the NFT space. According to Adidas, the goal is to support and nurture creative talents in the digital realm, providing artists with an opportunity to showcase their work and collaborate with the sportswear giant. This collaboration extends beyond digital projects and may include physical products in the future.

Another German fashion brand, Hugo Boss, has also entered the NFT arena with a focus on fashion in the metaverse. The company collaborated with renowned digital fashion designers to create a series of exclusive NFT clothing items. These digital fashion pieces can be worn by avatars in virtual worlds, allowing users to dress in style even in the digital realm.

Mercedez-Benz digitalized its history

Mercedes-Benz boasts a rich history spanning more than 130 years, attracting a dedicated following of nostalgia enthusiasts and collectors. The brand’s iconic models, vintage cars and related artifacts, whether in their original form or as miniature models and toys, continue to hold appeal. In line with its strategic direction, the German automaker is venturing into the Web3 space through the launch of Mercedes-Benz NXT to enhance its engagement with the community.

In September, Mercedes-Benz launched its third NFT collection: The Era of Luxury. These collectibles created by Mercedes-Benz NXT Icons are digital reinterpretations of the most remarkable designs from seven design eras. The collection spans from the present day to the early history of automobiles.

1/ What a fantastic reveal on Wednesday! In this thread, we would like to show you a selection of combinations of the Mercedes-Benz NXT Icons from “The Era of Luxury”.

Let us start with Mercedes-Benz NXT Icons #41 collected by Pakwalker. ↓ pic.twitter.com/ogyubfA9M8
— Mercedes-Benz NXT (@MercedesBenzNXT) September 29, 2023

All three NFT collections show how Mercedes-Benz actively explores opportunities to blend the digital realm with automotive design. This endeavor is spearheaded by the brand’s chief design officer, Gorden Wagener, who guides the Mercedes-Benz design team in creating digital collectibles. The primary objective is to reinterpret the brand’s most iconic designs, presenting them in the digital format of NFT cards.

Ritter Sport, Haribo and Katjes create sweet NFTs

Ritter Sport, a German chocolate brand, also ventured into the NFT world by launching a limited series of digital chocolate bars as NFTs in August 2023. The NFT collection is called Art of the Square and consists of 256 digital pixel art pieces, each depicting a square Ritter Sport bar.

gm! Ganz im Sinne von Clara Ritter haben wir eine Kollektion an Digital Collectibles entworfen: „Art of the square“ geht am 23.08. um 16 Uhr in den Verkauf, die Allowlist ist schon online! Hier entlang: https://t.co/oSYzlJqKb8 & https://t.co/WnzbYI3c71 #web3 #digitalart #hodl pic.twitter.com/9gIEcKpkNe
— ClaraRitter.eth (@clararittereth) August 9, 2023

Not only Ritter Sport uses such creative marketing strategies to engage with a tech-savvy audience. Other German food brands have also released their NFT collections. For example, confectioner Katjes released its NFT collection of three unicorn babies named Dash, Willow and Sparkles in April 2023.

This was Katjes’ second NFT campaign after releasing a limited-edition collection of 777 unicorn NFTs in May 2022. Both campaigns were a way for Katjes to reach a younger audience, as unicorn babies are a popular character among children and teenagers.

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Haribo, a German confectionery company famous for its gummy bears, has also entered the NFT world. In April 2023, the company filed for NFT trademarks in the United States, indicating its plans to expand its brand into the digital world. The trademarks cover a wide range of digital assets, including digital avatars, multimedia files with confectionery-related artwork, cartoons and other items authenticated by NFTs.

German confectionery company #HARIBO has registered its name as a trademark for:

✅ Smartwatches
✅ VR Glasses
✅ Media verified by NFTs
✅ Jewelry and Toys

... and much more!#NFT #MetaverseNFT #GoldBears #Trademark #Candy #NFTs #VR pic.twitter.com/y7WqNVJC7c
— Mike Kondoudis (@KondoudisLaw) April 26, 2023

Adidas, Haribo, Lufthansa, Deutsche Post and other traditional German brands have joined the growing list of businesses venturing into the NFT space. This expansion marks a significant shift in the perception of NFTs, as they are no longer viewed solely as a niche investment opportunity.

Instead, NFTs are increasingly being seen as a mainstream marketing tool and a way to experiment with new concepts that bridge the virtual and physical worlds and build new communities.

Germany

Deutsche Post combines NFTs and AI

Lufthansa takes to the skies with NFT art

Adidas and Hugo Boss reimagine fashion

Mercedez-Benz digitalized its history

Ritter Sport, Haribo and Katjes create sweet NFTs

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