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Lamborghini is accelerating into the world of the blockchain with the release of its first NFT (non-fungible token) next month. The Italian automaker, which is in the midst of an ambitious shift to hybrid and electric sports cars, announced that it would auction off a series of NFTs that it produced in collaboration with Swiss artist Fabian Oefner, as well as NFT Pro and Sotheby’s. Oefner’s image depicts a Lamborghini breaking down into its core components as it rockets through the inky blackness of space. It’s less amateurish in its design than many of the more popular NFTs, like the Bored Ape…
With the whole economic sphere going through a slump, many people might’ve thought of investing in cryptocurrencies. Although their intentions are straight, the cryptocurrency market is playing around right now. Yes, Bitcoin has shown cryptocurrency investors the worst volatility it can bring in the past week. Bitcoin’s price broke through the US$33,000 resistance level on 24th January morning, only to bounce back to US$38,000 in the evening. The investors are now even more confused about whether to take it as a positive or negative sign. Since hitting an all-time high in November 2021, BTC is on a downward trend. The cryptocurrency lost almost 45%, falling from its record price of…
The Infrastructure Investment and Jobs Act (the Act), H.R. 3684, commonly referred to as the infrastructure bill, was signed into law by President Biden on November 15, 2021. Below are summaries of three key changes applicable to users in the crypto, blockchain and digital asset spaces. I. Definition of Broker Under Internal Revenue Code Section 6045 Section 80603 of the Act, Information Reporting for Brokers and Digital Assets, modifies the definition of broker as set forth in Section 6045(c)(1) of the Internal Revenue Code of 1986, as amended (the Code), to include “any person who (for consideration) is responsible for…
In 2021, the crypto space saw major advances in mainstream recognition, as evidenced by, among other things, Tesla’s investment of more than $1.5 billion in bitcoin in February, Coinbase’s splash debut on the Nasdaq in April, El Salvador’s decision to make bitcoin legal tender in September, the first bitcoin ETF hitting U.S. exchanges in October, bitcoin prices topping at $69K in November, and the passage of the Infrastructure Bill in November, capped off by a House Financial Services Committee Hearing on Crypto in December. However, one major problem is a lack of clear regulation and coherent legislation. The industry deserves…
In a world where the digital market seems to rule out physical artworks, the Out of Africa NFT collection proves the contrary. Created by Invictus NFT Lab, this project brings the top traditional Southern African artists onto the NFT scene starting February 2022! In essence, the Out of Africa project is a bridge between the physical and digital worlds. Now, collectors get a chance to join the Fine Art community too – an area often considered exclusive until now. From powerful portraits to bold colors and new concepts, let’s find out how to explore real-life contemporary art in a digital…
Paris Hilton surprised the entire Tonight Show audience with free NFTs during her guesting. As host Jimmy Fallon pointed out, this is the first NFT giveaway on live TV. Clearly, NFTs are ready to make a run for mainstream dominance. Hilton appeared as a guest on the Tonight Show Starring Jimmy Fallon, where she spoke about her NFT journey. The highlight of the interview was to promote her first NFT collection with vinyl toy and digital collectibles company SUPERPLASTIC. She shared that the Collection is entitled “Forever Fairytale,” a collage of memories with her new husband, Carter Reum. She then gifted the first…
Most ordinary people haven’t been able to mine Bitcoin at a profit for years. As the difficulty of mining the cryptocurrency has increased, most rewards have gone to massive operations that rely on a bunch of incredibly powerful machines. But solo miners with relatively weak setups have found success in recent weeks using USB-based mining rigs.The most recent example comes from a solo USB miner participating in “solo.ckpool.org,” which purportedly offers “no frills, no fuss 2% fee anonymous solo bitcoin mining for everyone.” The miner solved a block with a rig that had a has rate of approximately 8.3 tera hashes…
Wealthy investor Mike Novogratz says the days of making easy money on Wall Street are coming to a swift end and he sees more pain in store for stock-market investors in coming months. “I look at the stock market and it is just starting to correct and that worries me more,” he told MarketWatch in a Tuesday interview, as he attended an event in Miami, Fla., where he also said: “I’m still a true believer but it’s time for sobriety”, referring to crypto. Novogratz, chief executive of digital merchant bank Galaxy Digital BRPHF, +1.06% GLXY, 1.44% says that speculative assets like bitcoin BTCUSD, +0.97% have fallen by around…
Switzerland’s blockchain industry says it includes 14 companies with a valuation over $1 billion (CHF912 million). Worldwide there are about 900 ‘unicorns’ – privately held start-up companies valued over $1 billion – most of them in China, the United States, India, Israel and in European countries. The top 50 Swiss companies increased their valuation nearly fivefold to $611.8 billion at the end of last year compared with figures from 2020. There were about 1,128 blockchain companies in Switzerland and the neighbouring principality of Liechtenstein at the end of last year (up 18%) with a staff of just over 6,000 (up…
Bitcoin is theoretically vulnerable to being cracked by quantum computers, but calculations show they would need to be a million times larger than those that exist today. Quantum computers would need to become about a million times larger than they are today in order to break the algorithm that secures bitcoin, which would put the cryptocurrency at risk from hackers. The bitcoin network is kept secure by computers known as miners that use a cryptographic algorithm called SHA-256, which was created by the US National Security Agency. Breaking this code is essentially impossible for ordinary computers, but quantum computers, which can exploit…