The investment management giant Invesco has launched a metaverse fund that will invest in a myriad of startups focused on metaverse technology, a Citywire report detailed on Monday. “We will seek to capitalise on these opportunities through a highly selective, valuation-conscious approach,” Tony Roberts, Invesco’s fund manager, explained. Invesco Reveals Metaverse Fund — Investment Manager Plans to Invest in Small,…
The Pudgy Penguins are pumping. First launched back in June 2021, the Ethereum NFT collection often referred to as the “Pudgys” is starting to see some of its long-term efforts pay off. The minimum purchase price, or floor price, for a Pudgy Penguin PFP NFT has spiked 83% in the past two weeks and 69% over the past month, according…
Marcin Kobylecki, who previously worked on video games “The Witcher” and “Cyberpunk 2077,” wants to bring a darker fantasy edge to the still nascent metaverse with a new project: DRKVRS. Kobylecki is heading up the creative development of DRKVRS in collaboration with Aleph Zero. Aleph Zero is a proof-of-stake blockchain launched in November 2021, with the AZERO native token powering…
Samsung Securities is among seven large South Korean securities companies that have applied for government approval to create a virtual assets exchange, according to a report in South Korean publication Newspim. The companies aim to create a corporation to open an exchange in the first half of next year. Newspim quoted an unidentified executive as saying that discussions on the project…
On Monday, developers of decentralized nonfungible tokens (NFTs) borrowing and lending protocol Bend DAO proposed new emergency measures in an attempt to stabilize the ecosystem. The same day, it was revealed that the project had just as little as 15 wrapped Ether (wETH) worth $23,715 to pay back lenders. Approximately 15,000 ETH was lent using the mechanism. To save the…
After the rising wedge formation was broken on Aug. 17, the total crypto market capitalization quickly dropped to $1 trillion and the bulls’ dream of recouping the $1.2 trillion support, last seen on June 10, became even more distant. Total crypto market cap, USD billion. Source: TradingView The worsening conditions are not exclusive to crypto markets. The price of WTI…
Lawyers for former OpenSea product manager Nate Chastain have filed a motion to dismiss the insider trading charges against the ousted NFT marketplace employee. Filed Friday, the motion argues that NFTs are not securities or commodities—so no insider trading could have taken place. The Department of Justice and FBI in June arrested and charged Chastain with wire fraud and money…
Last week, the United States Federal Reserve Board turned its eye to banks and crypto, making (or promising to make) several clarifications, one of them pretty long-awaited. It announced that the final version of guidelines for reserve banks to access Reserve Bank master accounts and services is ready. For crypto, these guidelines hold a prospect of “the most stringent review,”…
Telegram CEO Pavel Durov has proposed bringing its platform usernames and channel links to market as NFTs. In a Monday post to his personal Telegram channel, which has 651,000 subscribers, Durov suggested that millions of reserved Telegram addresses could be auctioned as assets on the blockchain. “This would create a new platform where username holders could transfer them to interested…
2022 has been an exceptionally rough year for the crypto market, and the last few months of Bitcoin’s (BTC) price action could be a sign that bears aren’t even close to being ready to let up. Crumbling crypto prices also equate to diminishing profits for Bitcoin miners and this week’s regulatory action by the United States lawmakers requesting energy consumption…
