Phil Spencer, head of the Xbox brand, believes that the metaverse has been with us since 30 years ago, when digital gaming was largely introduced. However, Spencer criticized play-to-earn (P2E) models, stating that they create a workforce out of a kind of gamer who needs to monetize the time spent playing. Xbox Boss Phil Spencer Believes the Metaverse Has Been…
The family of the world-renowned painter Frida Kahlo released never before seen art and memorabilia tied to the artist into the metaverse. The content debuted in a permanent exhibition during the third-annual Metaverse Art Week in Decentraland, held on Aug. 24–28. Metaverse users are now able to experience the art, along with personal anecdotes told by close family members in…
This is a transcribed excerpt of the “Bitcoin Magazine Podcast,” hosted by P and Q. In this episode, Q is joined by Lord Norris, the senior vice president of global partnerships at Going Parabolic Ventures, to discuss the looming threat of central bank digital currencies (CBDCs). Watch This Episode On YouTube or Rumble Listen To The Episode Here: Why Isn’t Everyone Scared…
Binance Australia is tightening up its onboarding process for new users as part of a push to protect users it’s flagged as most vulnerable to financial crypto crime. The new measures were mentioned in Binance Australia’s June quarter Economic, Social, and Governance (ESG) report on Aug. 29, which noted that the exchange was working on a “stringent and user-focused onboarding…
In November 2020, Colorado banned gas flaring, venting, and the release of raw gas into the atmosphere. While the centennial state has a large number of well sites, a recent report shows that roughly a half dozen Colorado oil and gas companies are leveraging gas-to-bitcoin flare mitigation systems and these firms are raking in a lot of bitcoin. Report Shows…
Ethereum layer-2 scaling solution Arbitrum is set to undergo one of its most significant upgrades on Wednesday, set to increase transaction throughput, slash transaction fees and simplify cross-chain communication between Arbitrum and Ethereum. Referred to as the “Nitro” upgrade, Arbitrum reconfirmed the date of the upgrade in a Twitter post on Aug. 29, confirming that the upgrade will take effect…
The Federal Bureau of Investigation issued a new warning Monday focused attacks against decentralized finance (DeFi) platforms, saying that cybercriminals are exploiting vulnerabilities in the smart contracts that govern them. “Between January and March 2022, cyber criminals stole $1.3 billion in cryptocurrencies, almost 97 percent of which was stolen from DeFi platforms,” the agency says, citing an April 2022 report…
The head of JPMorgan’s digital assets unit Umar Farooq has suggestedthat most of the crypto assets on the market are “junk” and that real crypto use cases are yet to fully present themselves. During a panel discussion at the Monetary Authority of Singapore’s Green Shoots Seminar on Aug. 29, Farooq stated that regulation is yet to catch up to the…
In another shift toward widespread crypto adoption in Argentina, citizens from the Mendoza Province can now pay government fees and taxes using cryptocurrencies. In an Aug. 27 statement, the Mendoza Tax Administration (ATM) described the new crypto payment service as fulfilling “the strategic objective of modernization and innovation,” giving “taxpayers different means to comply with their tax obligations.” The service…
The International Monetary Fund (IMF) expects the U.S. economy to experience high inflation for at least another year or two. “I would be careful about looking at one data point for the U.S.,” IMF First Deputy Managing Director Gita Gopinath cautioned. IMF on US Economy and Global Inflation The first deputy managing director of the International Monetary Fund (IMF), Gita…
