Hong Kong’s Secretary for Financial Services and the Treasury, Christopher Hui, announced new regulations for the tokenization sector during the Hong Kong Fintech Week. He dismissed concerns about the JPEX scandal affecting the growth of the web3 market. The upcoming regulations will focus on token issuance, wallets, and other virtual asset regulations beyond exchanges. The...
Blockchain technology is revolutionizing the sports industry, with revenue from blockchain expected to grow at a 9% CAGR over the next five years. Web3’s influence in sports is democratizing the industry, giving fans a significant stake and voice in their favorite teams’ operations. Non-fungible tokens (NFTs) are also playing a significant role in transforming the...
Crypto enthusiasts frequently highlight the benefits of their technology over traditional financial institutions like brick-and-mortar banks, and it’s a story that has a lot of reality. But funds must be ensured to be secure if Web3 is to be widely adopted and for cryptocurrencies to be used in retail or stored as a store of...
Nonfungible token marketplace Magic Eden has launched its own “fully audited” marketplace for Bitcoin Ordinals, leveraging the surging interest in “Bitcoin NFTs.” The newly launched marketplace allows Bitcoin NFT traders to buy and sell Bitcoin Ordinal collections, giving users a similar experience to the one that Magic Eden offers for Polygon, Ethereum and Solana-based NFTs....
The Hong Kong authorities have allocated $50 million to accelerate the development of the crypto industry. Hong Kong Financial Services and Treasury Bureau (FSTB) Chairman Christopher Hui made the announcement at the Web 3 Investment Summit hosted by Aspen Digital, according to a press release on the Hong Kong government website. According to him, the...
Meta has decided to stop supporting NFT on its social networks Facebook and Instagram. This was announced by the head of commerce and financial technologies Meta Stephane Kasriel. NFT support was added to the Meta social networks six months ago. At the end of August 2022, the company announced the introduction of digital tokens on...
The French Fashion House Hermes decided to achieve a complete ban on NFT series sales with Birkin bags. The company appealed to the federal court with a request to ban the artist Mason Rothschild to advertise, sell and own digital tokens issued by him from the Metabirkin collection, after the jury established that they violate...
American rapper and actor Snoop Dogg has been revealed as one of the co-founders of a Web3-powered live streaming app called “Shiller” — adding to yet another Web3 partnership for the well-known hip-hop artist. The app is described as a “live broadcast platform” that aims to combine Web3 technology with real-time live-streaming content. The rap...
Science fiction writer Neil Stevenson, in an interview with the Financial Times, called the conditions for the popularity of the metaverses and talked about the future of virtual reality. He doubted the prospects of technology until people themselves decide to live in a digital world. This will require a unique “experiences that millions of people...
Investment firm Pantera Capital has invested $10 million in massively multiplayer online role-playing game Worldwide Webb in its Series A funding round. Launched in 2020, Worldwide Webb offers a compatible Massively Multiplayer Online Role Playing Game (MMORPG) where players can use their own NFTs from multiple blockchains to use as avatars to participate in battles,...
