The CEO of payments giant Visa says that more regulation is needed for the crypto space to regain user confidence after the FTX collapse. In a new interview with CNBC’s Jim Cramer, the outgoing Visa CEO Al Kelly says he hopes the downfall of FTX will speed up oversight of the crypto market. “I hope […]
The post CEO of Payments Giant Visa Details What’s Needed in Crypto To Regain User Confidence After ‘FTX Disaster’ appeared first on The Daily Hodl.
A one-of-a-kind NFT of the Birkenstocks sandals worn by Apple co-founder Steve Jobs at various times during his life has sold for over $200,000.
Footwear and apparel giant Nike has unveiled its latest foray into the nonfungible token (NFT) and metaverse space with the launch of an NFT marketplace named .Swoosh.
While .Swoosh is still in the beta phase, Nike announced that its “first digital collection” is set to launch on the Web3 platform in 2023, with the rest of 2022 devoted to growing the platform and user base.
✅ About .SWOOSH ♂️
— ycxc RTFKT (@ycxcRTFKT) November 14, 2022
.SWOOSH is a platform for @Nike's virtual creations, for them to be more accessible and to onboard the next millions into the wonderful world of web3 and digital assets.
pic.twitter.com/F0M7Q8Ddwk
Among the “virtual creations” to become available next year are digital sneakers, apparel, accessories and other collectibles. In addition, some will unlock benefits such as access to real-life products and events.
Following the first collection drop, members can enter a community challenge to win the opportunity to co-create a virtual product with Nike.
According to Nike, the winners of the challenge can earn an undisclosed amount of royalties on the virtual product they help co-create.
Ron Faris, general manager of Nike Virtual Studios, said .Swoosh offers a “gateway into a new digital arena,” while the Twitter post from Nike said the platform would help “onboard the next millions” into the “wonderful world of web3 and digital assets.”
“We are shaping a marketplace of the future with an accessible platform for the web3-curious,” he added.
In 2021, Nike entered the metaverse game through the acquisition of virtual sneakers and collectibles brand RTFKT. It also launched the virtual world Nikeland.
.SWOOSH uses similar tools and technologies but all three are different projects for the company.
A one-of-a-kind NFT of the Birkenstocks sandals worn by Apple co-founder Steve Jobs at various times during his life has sold for $218,750 at an auction.
Julien’s Auctions ran the auction from Nov. 11 to Nov. 13, with 19 people overall trying to claim the footwear with offers ranging from $15,000 to $175,000.
Included in the deal was an NFT featuring a 360° digital representation of Steve Jobs sandals, which was minted on the Polygon blockchain.
The NFT is a 1-of-1 edition and included the physical sandals, with the “imprint of Steve Jobs’ feet.” It also came with a hard case for storage and transport and a Jean Pigozzi book titled The 213 Most Important Men in My Life.
Initially, the sandals and NFT were projected to fetch between $60,000 and $80,000, but after 19 bids, the sandals ended up going for $218,750. The new owner of the sandal NFT has not been publically disclosed.
Jobs and Steve Wozniak co-founded Apple in 1976. Jobs died of pancreatic cancer in 2011.
Bangalore International Airport has launched Metaport, a metaverse airport built on the Polygon blockchain.
Hello flyers ✈️ @BLRAirport launches #Metaport, the 's first airport metaverse exclusively #onPolygon to showcase the T2 Terminal.
— Polygon - MATIC (@0xPolygon) November 12, 2022
Experience the phygital world of
Socializing
️ Shopping
Entertainment
Welcome to the future powered by #Polygon, @AWS & @Intel pic.twitter.com/9ESUoIvplm
Inaugurated by Indian Prime Minister Narendra Modi on Nov. 11, the metaverse features a virtual reproduction of Terminal 2 at Bangalore International Airport and allows users to network with other travelers, access entertainment and go shopping in the digital space.
Arpit Sharma, vice president of enterprises at Polygon, posted a Nov. 12 video of Metaport in action.
BLR metaport powered by @0xPolygon, @awscloud, @intel, @BLRAirport goes live today! Super proud!
— Arpit (@Arp_it1) November 12, 2022
Bengaluru is leading the way - @Tejasvi_Surya
Kudos to the amazing leaders and team@HariMarar @sandeepnailwal @kamakshi_taneja @nikhilv @kanishkaagiwal https://t.co/5X9BBLOUIL pic.twitter.com/VgTomeNBxz
In the video, a user logs into the Metaverse airport, customizes their avatar’s appearance and clothing and then wanders around the virtual space.
The avatar interacts with several other users through a text-based chat, goes on an art tour and gets the chance to purchase digital items before a boarding call prompts the user to leave the metaverse.
The project is the result of a joint venture between Bangalore International Airport, Polygon, Intel and Amazon Web Services and is being called the first metaverse airport in the world by its creators.
The 2022 FIFA World Cup is rapidly approaching its Nov. 20 kickoff in Qatar and in the leadup, several companies have been releasing NFT collections and announcing Web3 games for the event.
Sportswear manufacturer Adidas posted a Nov. 14 promotional trailer for the World Cup featuring its Bored Ape Yacht Club (BAYC) character Indigo Herz alongside Lionel Messi and other players.
catch our family reunion all World Cup long #ImpossibleIsNothing pic.twitter.com/UCNG2WBnLg
— adidas (@adidas) November 14, 2022
Herz was on a cereal box of “Indigoooooals.”
The footwear giant purchased Indigo Herz, or BAYC #8774, on Sept. 17, 2021, for 46 Ether (ETH) — worth approximately $58,500 at the time.
Yuga Labs grants holders full intellectual property rights to use the characters for commercial endeavors.
Related: Wuhan omits NFTs from metaverse plan amid regulatory uncertainty in China
Earlier this month, major credit card company Visa released five soccer-themed NFTs for auction on Nov. 1 featuring World Cup goals of famous players. The auction lasted until Nov. 8, with all proceeds donated to a United Kingdom-based charity.
The payments company is also giving fans a chance to create their own NFTs on a digital pitch at the FIFA Fan Festival, which will launch during the World Cup.
On Oct. 14, Budweiser partnered with FIFA to release a live scoreboard NFT collection called Budverse X World Cup.
According to the OpenSea description, once users mint their world cup team, the NFT will follow and track the progress throughout the FIFA World Cup.
Meanwhile, FIFA announced on Nov. 9 they will have at least four Web3 games that fans can play while at the World Cup.
NFT marketplace OpenSea announced it will continue to enforce royalties across all collections going forward, following an outcry from creators for considering otherwise.
Web3 technology has opened a whole new frontier for musicians, but the head of IP at Animal Concerts metaverse platform says onboarding someone like Snoop who is active in the space is very different from “artists who don’t typically keep up with the Web3 ecosystem.”
Visa has reportedly terminated its global agreements with collapsed cryptocurrency exchange FTX and its U.S. arm, FTX US. The payments giant added that FTX’s “U.S. debit card program is being wound down by their issuer.” Visa Ends Agreements With FTX Visa Inc., the world’s leading payments processor, reportedly said Sunday that it has ended global […]
Ramp, a fiat-to-crypto company, has announced it has raised $70 million as part of its Series B funding round. The round was co-led by Mubadala Capital and Korelya Capital, with Balderton Capital and Cogito Capital participation. The company explained that these funds would allow it to improve its app further and keep hiring talent. Ramp […]
Abu Dhabi-based fintech, Pyypl, announced on Nov. 7 that it had raised $20 million in Series B funding and this brought the total of funds raised to nearly $40 million. Pyypl has said it plans to use the recently raised funds to develop and add new features to its proprietary technology. The company further wants […]
Digital payments company Visa is auctioning soccer-themed non-fungible tokens (NFT) on digital asset exchange Crypto.com ahead of FIFA World Cup Qatar 2022. The payments giant is holding the Visa Masters of Movement auction to benefit Street Child United, a charity working to change the negative perceptions of street children. During the auction period from November […]
The post Payments Giant Visa Partners With Crypto.com for New NFT Collection appeared first on The Daily Hodl.
A new NFT marketplace is giving a hard pass to optional royalties, bucking the trend, and NFTs are getting a new home on Ripple’s XRPL.
While nonfungible token (NFT) marketplaces such as Ethereum (ETH)-based X2Y2, LooksRare, and Solana (SOL)-based Magic Eden have made the switch over to “optional” creator royalties, a newly launched marketplace is taking a hard stand against it.
Find Satoshi Lab, the company behind the popular move-to-earn app StepN has launched its new NFT marketplace named MOOAR on Nov. 1, notably featuring “no optional royalties.”
Instead, its NFT royalty policy will be set to a default of 2% but allows creators to set royalties between 0.5% to 10%. There is no option for 0% royalties, nor can it be set by the user.
“With the raging debate going on surrounding the paying of royalties, we are aware that many users have been vocal in opposing the enforcement of such royalties,” said the MOOAR team in a Medium post.
“Fully empathizing with the sentiment, we strongly believe this ‘cancel culture’ has forced marketplaces into a corner to the point that prominent marketplaces have adopted optional royalties,” it added.
Launch Day! Get #MOOAR!
— MOOAR | Season #1 (@mooarofficial) November 1, 2022
Find Satoshi Lab (@FSLWeb3), the company behind STEPN, is thrilled to announce the launch of MOOAR NFT marketplace & launchpad.
This milestone is one of many on our roadmap to become a one-stop platform for the Web3 Community. ⬇ [1/10] pic.twitter.com/IfSSo2RWaS
On Aug. 27, Ethereum-based NFT marketplace X2Y2 announced it would be introducing an option that allows buyers to set the royalty fee when buying an NFT.
With the new update, buyers on the platform will be given the liberty of setting the amount of royalties they want to contribute to an NFT project. This means that some creators may not receive royalties when their artworks are sold.
The controversial move was followed by the Solana-based NFT marketplace Magic Eden on Oct. 15, which announced it would also be moving to an optional royalty model after “difficult reflection and discussion with many creators.”
Less than two weeks later on Oct. 27, NFT marketplace LooksRare became the latest to succumb to pressure from buyers, announcing it was doing away with enforcing creator royalties, allowing buyers to choose to pay royalties on an opt-in basis.
Credit card giant Visa has become the latest major company set to cash in on FIFA World Cup-related nonfungible tokens (NFTs) — unveiling a charity auction for five NFTs ahead of the upcoming tournament in Qatar.
The auction is in partnership with crypto exchange Crypto.com, with all auction proceeds going to Street Child United, a charitable organization promoting the rights of impoverished children.
Each NFT features digital art inspired by icon goals from five famed soccer players including Jared Borgetti, Tim Cahill, Carli Lloyd, Michael Owen, and Maxi Rodriguez, and is part of the “Visa Masters of Movement.”
The credit card company has been a long supporter of NFTs and its ability to provide a “promising medium for fan engagement.”
In a report released on Aug. 23, 2021, Visa said that “NFTs appeal to collectors, fans, teams, leagues, and talent.”
In particular, NFTs can become primary sources of fan engagement, customer relationship management, and newer revenue streams, it said.
Visa’s announcement also comes on the same day that Crypto.com announced it will now be able to self-issue its own Crypto.com Visa card in Singapore, after becoming a Visa Associate Program Member in the city-state.
The Crypto.com Visa card will allow the exchange’s users in Singapore to use it for everyday purchases and earn rewards in CRO coins.
Visa is the Official Payment Technology Partner of FIFA. Other notable sponsors include Crypto.com which became an official sponsor in March, and blockchain network Algorand, which inked a partnership in May as FIFA’s official blockchain platform.
As of Oct. 31, Ripple’s XRPL blockchain has officially become a new home for NFTs.
RippleX developers have been working on the project since the XLS-20 proposal was filed on May 25, 2021, which proposed the goal to bring NFTs to the XRP Ledger.
At the time, the team described the proposal as one that would introduce extensions to the XRP Ledger that would support a “native non-fungible token type, along with operations to enumerate, purchase, sell and hold such tokens.”
Ripple CTO David Schwartz told his 395,600 Twitter followers on Oct. 31 that the XLS-20 standard has now been enabled on the XRP Ledger Mainnet after a vote approved the roll-out of the technology.
Schwartz noted that “this presents a key milestone for developers and creators to tokenize any asset and build innovative Web3 projects with utility.”
Thanks to the collective effort of the #XRPL community and @RippleXDev engineers, XLS-20 is now enabled on the XRP Ledger Mainnet and a few NFTs have already been minted. (1/4)
— David "JoelKatz" Schwartz (@JoelKatz) October 31, 2022
In an accompanying Nov. 1 blog post, Schwartz said the benefits of launching NFTs on the XRP Ledger include much lower costs for minting, trading and otherwise transferring NFTs compared to “leading layer-1 blockchain solutions.”
He also said their “no-smart contracts” approach will make NFTs on the XRPL less vulnerable to hacks, while NFTs will include “automatic royalties” which essentially allow creators to be given a share of revenue whenever an NFT is bought or sold.
The indie developer behind farming sim game Coral Island has taken to Twitter to warn its followers of a scammer impersonating them on the internet and purporting to be involved in “GameFi” and NFTs.
The developer Stairway Games pointed to the doppelganger account on Twitter on Oct. 31, clarifying that Coral Island “is not an NFT game” and the page has no affiliation with Coral Island.
Related: Steph Curry files trademark for the Curryverse, where players earn NFTs
The fake Coral Island Twitter page in question describes itself as “Re-imagined farm sim game goes GameFi. Enter the farmverse!” and links to a similar Instagram page, as well as a fully-decked-out website using assets, lifted directly from the developers.
The website includes sections such as “Roadmap” and “Tokenomics,” with claims that it would launch staking, airdrops, character NFTs, and a “token earning system” in the future.
Hey folks, this is not us. @coralislandgame is the only Coral Island game twitter page. We are not an NFT game and the page below has no affiliation to Coral Island. Thank you! pic.twitter.com/Aei1650McT
— Stairway Games (@stairwaygames) October 31, 2022
Coral Island is a farming simulator game currently in early access, it’s said to be a mix of “Harvest Moon, Story of Seasons, Stardew Valley and a tiny bit of Animal Crossing,” according to one user review on gaming platform Steam.
The nonfungible token (NFT) marketplace for American video game retailer GameStop has officially gone live on Ethereum layer-2 blockchain ImmutableX, all part of the latest Web3 push from the gaming retailer.
There’s been pushback from Silicon Valley CEOs about the current iterations of the Metaverse. Microsoft gaming chief Phil Spencer called it a “poorly built video game,” while Snap CEO Evan Spiegel hinted that the current iterations of the concept are very basic, and he won’t feel like spending time inside it after a long day of work.
Financial services giant Visa has set out to activate soccer fans for the upcoming World Cup Qatar 2022 with a non-fungible token (NFT) initiative. FIFA’s payment partner has teamed up with the governing body’s crypto sponsor to celebrate the planet’s most popular sport, art and technology. Visa and Crypto.com Offer Soccer Fans Iconic NFTs, Chance […]
Despite the 8.5% weekly rally in cryptocurrencies, the lack of stablecoin premiums in Asia and futures markets activity shows buyers’ lack of confidence.
Cryptocurrencies broke the $1 trillion market capitalization resistance on Oct. 26, which had been holding strong for the previous 41 days. Despite Bitcoin’s (BTC) modest 5.5% weekly gains, the aggregate value of 20,000 listed tokens increased by 8.5% between Oct. 24 and 31.
The cryptocurrency market was positively impacted by a 6.3% weekly rally in the Russell 2000 mid-capitalization stock market index. Some encouraging news accompanied the positive tailwinds from traditional markets.
For instance, 55,000 BTC was withdrawn from Binance on Oct. 26, a record high. Typically, analysts consider the reduced number of coins deposited on exchanges a bullish indicator, as the immediate selling pressure eases.
Moreover, exchange and wallet provider Blockchain.com partnered with payment processing giant Visa to launch a crypto card. The cryptocurrency company revealed on Oct. 26 that there would be no sign-up or annual fees, no transaction fees and users would earn 1% of all purchases back in digital assets.
Instead of focusing on Bitcoin, cryptocurrency traders have spread their bets across altcoins. Consequently, comparing the winners and losers among the top 80 coins provides skewed results, as seven rallied 20% or more over the past week.
Dogecoin (DOGE) rallied 112% after Elon Musk, the billionaire CEO of SpaceX and Tesla, completed his acquisition of the Twitter social media network. Musk’s widely known passion for the memecoin inspired traders to raise expectations of potential payment integrations.
Mina Protocol’s MINA token gained 28% following its ecosystem update report on Oct. 27, which highlighted its zero-knowledge testnet. The protocol promises efficient layer-1 smart contract zkApps, adding unique privacy features and the ability to connect to external data sources.
The native tokens of smart contract networks Klaytn, Cosmos and Avalanche — KLAY, ATOM (ATOM) and AVAX (AVAX), respectively — rallied following Ether’s (ETH) 16.5% gains. Moreover, the Ethereum network has remained clogged, with average transaction fees above $3 for the past three weeks.
The USD Coin (USDC) premium is a good gauge of China-based crypto retail trader demand. It measures the difference between China-based peer-to-peer trades and the United States dollar.
Excessive buying demand tends to pressure the indicator above fair value at 100%, and during bearish markets, the stablecoin’s market offer is flooded, causing a 4% or higher discount.
Currently, the USDC premium stands at 100.8%, flat versus the previous week. Therefore, despite the 8.5% cryptocurrency market capitalization increase, no additional demand came from Asian retail investors. However, such data should not be worrisome, as it partially reflects the total capitalization being down 56% year-to-date.
Perpetual contracts, also known as inverse swaps, have an embedded rate usually charged every eight hours. Exchanges use this fee to avoid exchange risk imbalances.
A positive funding rate indicates that longs (buyers) demand more leverage. However, the opposite situation occurs when shorts (sellers) require additional leverage, causing the funding rate to turn negative.
As depicted above, the accumulated seven-day funding rate is either slightly positive or neutral for the largest cryptocurrencies by open interest. Such data indicates a balanced demand between leverage longs (buyers) and shorts (sellers).
Considering the absence of stablecoin demand in Asia and mixed perpetual contract premiums, traders lack confidence even though the total crypto capitalization broke above the $1 trillion mark.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
