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Is the Loot Project going to have a trajectory somewhat like Ethereum circa 2018? There are certainly parallels. Those outside of Loot are dismissing it right now, much the way the public became convinced that crypto was over after the ICO boom. In both cases, though, after the attention went away, a lot of work was getting done. The trouble is, like Ethereum back then, even enthusiastic community members still aren’t totally sure what Loot is going to be good for. Loot (for Adventures) was launched in late August by Vine co-founder Dom Hoffmann. It enabled Ethereum users to download a list of…
Hashed, one of the biggest blockchain-based VC firms in Korea, has announced the launch of a new fund that will focus on Web 3.0 investments. Hashed disclosed its new fund, called Hashed Venture Fund II, would open with $200 million available to incubate startups in the Web 3.0 arena, including play-to-earn initiatives and decentralized finance companies. With this fund, Hashed wants to expand its influence and reach a global scale, connecting with creators in places not contemplated before. Hashed’s announcement, written by partner Baek Kim, states: “We are carefully scaling our impact in key markets. In addition to our Seoul…
A recently established crypto industry association in Iran has commenced activities under the country’s chamber of commerce. Its management hopes to help remove obstacles challenging its members while facilitating the implementation of blockchain technology in the sanctioned nation’s economy. The newly-established Iran Blockchain and Cryptocurrency Association (IBCA) has started operating under the supervision of Iran Chamber of Commerce, Industries, Mining and Agriculture (ICCIMA), the English-language business daily Financial Tribune reported. According to the publication, the IBCA is the first organization affiliated with the chamber that is dealing with challenges facing Iran’s growing blockchain ecosystem. The launch was announced by Mohammad…
With approval for a conventional cryptocurrency ETF still nowhere in sight, at least one U.S. money manager is looking to tap one of the other hot trends on the blockchain. Defiance ETFs is launching the Defiance Digital Revolution ETF (ticker NFTZ) on Thursday, which will track a blockchain-related-companies and non-fungible-token index. It won’t invest in any cryptocurrencies directly — the gauge tracks firms that have exposure to the industry — but it is one of the first ETFs to tap the booming market for NFTs. The U.S Securities and Exchange Commission allowed an ETF that holds Bitcoin futures to begin trading in…
The metaverse is thriving right now, as individuals and companies pile in. A total of $106 million was spent on virtual property in the last week, with purchases of digital land, luxury yachts and other assets, according to data from DappRadar. The Sandbox, an online gaming world that allows users to own plots of land, has dominated activity. Between November 22 to 28, the platform attracted $86.56 million in unique non-fungible token land sales that are tied to the blockchain, DappRadar said. In second place was Decentraland, another virtual platform that brought in $15.53 million in sales of digital plots of…
From cutting-edge videogames to business applications like virtual real estate showings, it’s evident that this powerful technology has the potential to make a huge impact over the next few years…. The Metaverse is Here to Stay Imagine an interactive world that combines multiple elements of technology such as virtual reality, augmented reality, and video to offer users a truly unforgettable experience. This is the main concept behind the metaverse, which is a topic that has certainly gotten plenty of attention from investors over the last few weeks. A lot of this has to do with the fact that Facebook (NASDAQ: FB) announced…
On Wednesday night, someone drained funds from multiple cryptocurrency wallets connected to the decentralized finance platform BadgerDAO. According to the blockchain security and data analytics Peckshield, which is working with Badger to investigate the heist, the various tokens stolen in the attack are worth about $120 million. While the investigation is still ongoing, members of the Badger team have told users that they believe the issue came from someone inserting a malicious script in the UI of their website. For any users who interacted with the site when the script was active, it would intercept Web3 transactions and insert a…
U.S. Treasury Secretary Janet Yellen said on Thursday she has not formed a view on whether the Federal Reserve should create a digital version of the dollar, but such a move would require broad consensus among Congress, the U.S. central bank and the White House. Yellen said during a Reuters Next conference interview that the advantages and disadvantages of a central bank digital currency needed further study, including its effects on the banking system. “I see both pros and cons to doing it. And my own mind is not made up about this,” Yellen said. Fed Governor Lael Brainard, who…
The Indian government isn’t looking to ban cryptocurrencies in the country, but it is looking to regulate them — as ‘assets’. The country’s markets’ watchdog, the Securities and Exchange Board of India (SEBI), will be at the helm, according to a cabinet note seen by NDTV, This conforms to what Finance Minister Nirmala Sitharama said earlier this week about Bitcoin not being recognised as a currency for payments in India. India is, however, working on its own central bank digital currency (CBDC) that will be governed and monitored by the Reserve Bank of India (RBI). The note also reportedly highlights that…
US Senator Elizabeth Warren is pressing a Bitcoin miner about the impact of its operations on climate change, the local environment and power prices as part of her campaign to crack down on wasteful cryptocurrency mining. Warren sent the letter to Greenidge Generation Holdings Chief Executive Officer Jeff Kirt on Thursday afternoon. Greenidge, which says it’s the first carbon-neutral Bitcoin miner in the US, has one mine in upstate New York and is planning another in South Carolina. “Given the extraordinarily high energy usage and carbon emissions associated with Bitcoin mining, mining operations at Greenidge and other plants raise concerns…