NFT News by Thebittimes.Com

A panel of industry experts indicated growing, albeit cautious, adoption of crypto currencies and blockchain technology by mainstream financial institutions at the European Blockchain Convention on Wednesday. The panel consisted of Nikou Asgari, digital markets correspondent at Financial Times, Manuel Nordeste of Fidelity Digital Assets, Christopher Siedentopf of Uphold, Eliezer Ndinga of 21Shares and Anya Nova of GKS. Nordeste said the firm has seen increased interest from traditional financial institutions despite the volatility. We certainly continue to invest in this business with the view that, you know, perhaps even though we have very volatile and very sort of extreme cycles in this asset class, that there’s an upwards trajectory in terms of adoption . Manuel Nordeste However, the panelists agreed that lack of clear regulations remains a significant hurdle for wider adoption . We can’t get around regulation. So for me, that’s key. Christopher Sieden...

Prominent Bitcoin developers and market analysts highlight BTC’s relative performance to the broader cryptocurrency markets at Bitcoin Amsterdam. The Bitcoin (BTC) value proposition continues to be a source of confidence for investors and proponents amid prevailing depressed market conditions in the broader crypto currency space. This was a key takeaway from in-depth interviews with Bitcoin developers, advocates, analysts and influential figures during the Bitcoin Amsterdam 2023 conference. Jameson Lopp, the CEO of Bitcoin custody firm Casa, provides food for thought with less than a year to go before Bitcoin’s next mining reward halving. In a conversation with Cointelegraph, the Bitcoin advocate and software engineer said BTC’s value proposition has been a stronghold through months of tough market conditions: “During the bear market, so many people have lost money on all these other tokens. Once again, Bitcoin is shining as the safer asset.” Dylan LeClair is another prominent voic...

io.net has built a decentralized physical infrastructure network that will source GPU computing power for AI and machine learning. A project that started out as an institutional-grade quantitative trading system for cryptocurrencies and stocks has transitioned to become a decentralized network sourcing GPU computing power to serve increasing demand for AI and machine learning services. Io.net has developed a test network that sources GPU computing power from a variety of data centers, cryptocurrency miners and decentralized storage providers. Aggregating GPU computational power is touted to drastically reduce the cost of renting these sources that are becoming increasingly expensive as AI and machine learning advances. Speaking exclusively to Cointelegraph, CEO and co-founder Ahmad Shadid unpacks details of the network that aims to provide a decentralized platform for renting computing power at a fraction of the cost of centralized alternatives that currently exist. Related: Fut...

The National Tax Service (NTS) of South Korea has revealed that 70% of the country’s overseas assets are in cryptocurrency. According to an official statement, the country holds $98 million worth of crypto abroad, as reported by nearly 1,400 individuals and corporations. The NTS said that out of the 186.4 trillion won ($140 million) in assets held by 5,419 entities in foreign financial accounts . The types of holdings included stocks, crypto, deposits, and savings. Of the reported funds, 130.8 trillion won ($98 million) were in crypto. You might also like: South Korean regulators focus on OTC crypto market South Korea’s crypto journey The relationship between South Korea and cryptocurrency has been challenging. The country has experienced ups and downs in its crypto market, with tightening government regulations threatening a potential shutdown at one point. The government’s presidential committee has called for robust crypto regulations to encourage...

Crypto games have garnered a bad reputation among traditional gamers, but the future of Web3 games and blockchain-based worlds is far from over, says Nolan Bushnell. It’s no secret that traditional gamer s harbor a strong sense of disdain for crypto and non-fungible tokens (NFTs) in their games . The reason for this is clear, says Atari founder Nolan Bushnell, it all started with the insane rise of play-to -earn games . “I can tell you clearly where this disdain for crypto comes from,” Bushnell said. “The hatred comes from these play-to-earn games that pioneered blockchain gaming.” “Good gamers don’t like to grind. Grinding is shitty. What gamers want is fun, and unfortunately these play-to-earn games are 100% dependent on the greater fool theory to work.” Speaking to Cointelegraph in a wide-ranging interview, Nolan Bushnell — known as the “godfather of video games ” — shared his many perspectives on the current gaming landscape and the role blockchain technology will play in the ...

Central & Southern Asia and Oceania (CSAO) lead the crypto adopt ion index, contributing six countries on the top ten list of Chainalysis’ latest index. Chainalysis has shared its recent report with crypto .news. As in previous cases, the paper evaluates the crypto adopt ion rate globally across all continents over the past year, coming up with a ranking system for the top countries in terms of crypto adopt ion index. CSAO commanded 19.3% of the global cryptocurrency value received between July 2022 and June 2023. The region witnessed a predominance of large institutional transactions — over $10 million — for crypto transfers. Small and large retail transactions contributed very little. Per the report, the evaluation considers important parameters, including rankings for centralized service value received, retail centralized service value received, P2P exchange volume, DeFi value received, and retail DeFi value received. You might also like: Former PayPal presid...

The program will provide seed money, mentoring and support to approved applicants. The Bitcoin Frontier Fund, formerly Stacks Ventures, launched what it’s calling the first Bitcoin Ordinals accelerator program on Aug. 14. Program Information This program is led by VC @TO & is a 4-month program for builders to raise funding, connect with mentors, & be guided by the best in the industry (sneak peak below). It will help with co-founder relationships, mentors & advisors, fundraising & pitching. pic.twitter.com/MSykk2l7Dl — Bitcoin Frontier Fund (@BTCFrontierFund) August 14, 2023 According to the program ’s website, the Bitcoin Frontier Fund is offering seed money to startups innovating in the Ordinals space along with access to funding pipelines and mentorship: “We offer $100k in investment and a badass program and community to take your startup to the next level, in exchange for 2-3% equity in common shares.” Startups with no “substantial funding” will be required...

Data NFTs can revolutionize the data brokerage industry by offering transparency, control and monetization possibilities for users. ABCDEFG Reshaping the way data brokerage works The data brokerage industry, which thrives on the buying and selling of user data, has grown into a multi-billion-dollar market that’s projected to reach over $462 billion by 2031. Data brokers act as intermediaries, selling personal information they collected from various sources to third parties. But the lack of transparency in the industry leaves users in the dark about what data is being collected, how it is used and who profits from it. Due to the proliferation of Web3-native technologies, internet users can tackle legacy issues about how they interact with the digital world, such as the ownership of personal data. In the Web2 world, individual data ownership rights stand as a gray area from a legal perspective. However, the Web3 era brings a new approach to the way personal data is handled by introducin...

Soramitsu is developing a cross-border payment system that uses Cambodia’s CBDCs and targets Japan, India, China and Southeast Asia. Japanese blockchain startup Soramitsu is exploring new central bank digital currency (CBDC) applications with a new project on the cross-border payment system for Asian countries . Soramitsu will deploy Cambodia's CBDC and fiat-pegged stablecoin s as part of its new payment system targeting countries like India, China, Japan and regions like Southeast Asia. The new project builds upon Soramitsu’s CBDC expertise, including its involvement in the Asian CBDC project Bakong in Cambodia and Laos' Lao kip, Nikkei reported on Aug. 8. Launched in 2020, Cambodia’s Bakong is a public-private initiative allowing Cambodian residents to pay at stores or send money through a mobile app using the local currency riel or U.S. dollar. Since launch, Bakong’s adoption has expanded to countries like Malaysia, Thailand and Vietnam. By late 2022, Bakong reportedly h...

Russia’s war in Ukraine threatens to destroy its art. This startup uses NFT technology to protect and preserve priceless artifacts from conflict zones. The ongoing war in Ukraine has had devastating consequences, including the destruction of cultural and historical objects. As the conflict continues, it is critical to protect Ukrainian artworks and cultural heritage. By using innovative technologies such as blockchain and nonfungible tokens (NFTs), art enthusiasts can ensure the protection and longevity of Ukrainian art, allowing future generations to appreciate and learn from its profound significance. But how can NFTs preserve fragile art during military conflicts and bridge the gap between traditional and digital art, increasing the visibility and accessibility of art to a broader audience? Shedding light on this topic is film director Asya Nikolaeva, a Ukrainian now living in San Francisco, who launched the CityX project, which aims to preserve Ukrainian art through NFTs. CityX’s ...

ToolsGPT marries ByBit’s market data with ChatGPT’s AI to generate technical analysis, price data and trading metrics. Cryptocurrency exchange ByBit will look to leverage artificial intelligence (AI) to provide a host of new trading tools and metrics for users through an integration with ChatGPT. OpenAI’s highly acclaimed large language model chatbot has been used by a myriad of industries to provide innovative solutions and services. The cryptocurrency trading space could stand to benefit from the service as ByBit unveils its own AI-powered offering to cryptocurrency traders using the Dubai-based exchange. ByBit’s ToolsGPT combines ChatGPT’s machine learning technology with the exchange’s market data to provide technical Analysis , price data and metrics. The integration also allows ToolsGPT to generate bespoke answers to traders’ inquiries. The exchange touts the new offering to provide insights and predictions to various cryptocurrency trading scenarios. ToolsGPT will be able to...

World Mobile announces the completion of DeWi technology field tests in Kenya, Mozambique and Nigeria, bringing a full African rollout one step closer. Decentralized wireless (DeWi) network operator World Mobile said on June 8 it has completed field tests of its DeWi technology in Kenya, Mozambique, and Nigeria, bringing it closer to a full rollout across the African continent, the company said in the announcement. World Mobile, which aims to offer affordable and reliable internet access to rural areas that are traditionally under-served, said the tests in Kenya and Mozambique were carried out using TV White Space equipment, employing unused spectrum in the TV broadcast band to provide mobile network services. In Nigeria, the field test utilized SpaceX’s satellite internet system Starlink. According to the company, both TV White Space and Starlink are complementary technologies that enable World Mobile to employ existing infrastructure and spectrum resources to expand its network...

According to Strike CEO Jack Mallers, the expansion drive aims to counter the “clouded world of crypto exchanges and hidden, unregistered licensing regimes and 1,000 different coins.” Strike, a Chicago-based Bitcoin (BTC) payment provider, expanded its services to 65 countries in parallel to relocating its global headquarters to El Salvador. Before its expansion, the mobile app was operational only in the United States, El Salvador and Argentina. According to Jack Mallers, the CEO and founder of Zap, Strike's parent company, the expansion drive aims to counter the “clouded world of crypto exchanges and hidden, unregistered licensing regimes and 1,000 different coins.” Speaking to Fortune, Mallers revealed that the move to relocate its headquarters to El Salvador was a response to the growing anti-crypto regulatory sentiments in the U.S. On one hand, regulations prevent Strike from offering its service in New York. On the other hand, El Salvador introduced crypto-inclusive regu...

“When you think about Bitcoin, it's potentially the largest country or one of the largest countries today. But it's digital in and it's spread out everywhere,” Jeff Booth told Cointelegraph. If Bitcoin (BTC) were a country, it might be one of the biggest in the world. That’s according to Jeff Booth, general partner at Bitcoin venture fund Ego Death Capital and author of “The Price of Tomorrow.” Cointelegraph spoke to Booth to better understand–and visualize–the state of the Bitcoin movement in 2023.  Booth sat down to enjoy a pint and a chat about Bitcoin in Bedford, a small suburban town that has attracted Bitcoin advocates and key opinion leaders from all over the world. Booth commented on the emergence and resilience of the Bitcoin community in the 2020s decade and how people can get involved personally. Jeff Booth (right) speaks to Cointelegraph's Joe Hall Booth suggested that the Bitcoin community could usher in a fundamental change to the world if its members de...

Nigerian crypto exchange Roqqu received the green light to operate in South Africa, providing on and off-ramps to South Africa's Rand currency. Nigerian crypto exchange Roqqu has been granted regulatory approval to operate in South Africa, allowing users to purchase Cryptocurrencies and withdraw funds with the country's fiat currency, the South African Rand, according to local media reports.   South Africa has been a top priority for Roqqu as the exchange seeks to expand its dominance in the African market. In a previous interview with Cointelegraph, the company ranked South Africa as a focal point for its growth plans, which includes reaching 5 million clients in 2023. Roqqu has its sights set on Ghana, Uganda, Kenya, and Tanzania for regional expansion in the near future.  South Africa is one of the biggest crypto and Blockchain adopting countries in Africa; and today, @roqqupay just receive d regulatory approval to operate in South Africa #RoqqucomingtoSA pic.twitter...

While the collapse of FTX shaved $100 billion off of BTC’s market cap in just four days last year, BTC has managed to fully recover and stack on another $65 billion. A 48% Bitcoin (BTC) price surge since the start of the year has pushed BTC's market cap past that of payment processing giant Visa once again. With the BTC price currently at $24,365, its market cap of $470.16 billion is now marginally above that of Visa, which has a market cap of $469.87 billion, according to CoinMarketCap. BTC has “flippened” Visa again. Source: CoinMarketCap. This is the third time that BTC has “flippened” the market cap of Visa, according to Companies Market Cap. The first time came in late December 2020, when BTC also happened to hit $25,000 for the first time. This was achieved during a price surge that saw BTC rally from $10,200 in September 2020 to $63,170 seven months later, in April 2021. Visa re-took the lead between June and October 2022, which then saw BTC surpass Visa for a very brief m...

A new suite of tools for Web3 businesses targets the safety and security of transactions, websites and smart contacts to combat exploits. A big concern for users in decentralized finance (DeFi) is its susceptibility to exploits. A report from Privacy Affairs revealed hackers stole $4.3 billion worth of cryptocurrency from January to November 2022 — a 37% increase from the previous year. Such exploits harm the integrity of companies and fuel skeptics from outside of the space in their case against cryptocurrencies. However, in a Feb. 2 announcement from Web3 Builders, the company revealed a suite of tools to combat this issue. The initial browser extension TrustCheck was created to flag Web3- related Scams before users continue to interact with them. This new suite of tools builds on that via a Web3 Builders transaction checker, website checker and smart contract checker. Ricky Pellegrini, the CEO of Web3 Builders, said this is an integral moment for the industry to prove its trust...

Commercial lawyers with a solid knowledge of blockchain and crypto tech will be in particularly high demand. Crypto-versed lawyers will play an increasingly important role in Web3 firms — particularly after the implosion of FTX and the industry braces for regulatory turbulence, two legal academics believe. Boston Law School professor and chief compliance officer at crypto exchange Bitstamp, Thomas Hook, told Cointelegraph that Web3 lawyers will soon become “business differentiators” because they’ll be faced with the tough task of helping firms navigate through legal and regulatory uncertainties. This will ultimately determine how fast firms can take their products and services to market, Hook explained: “Given the lack of clarity in many regulations and the complexity, Web3 companies will continue to need legal and compliance representatives to support them. These types of individuals are becoming business differentiators as they can help or hinder a business to get to market quickly...