Aurelia Butler

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    in Cryptocurrency

    Durex Plans To Enter The Metaverse With NFT Condoms

    Safe Sex in the Metaverse?On July 29th, 2022, licensed United States Patent and Trademark Office (USPTO) trademark attorney Mike Kondoudis, tweeted that the owner of Durex had filed a trademark application involving NFTs and cryptocurrencies.Durex has yet to provide any specific details as to when or how it will make its first foray into the metaverse and NFT sector. However, the company’s patent application outlined aspects of cryptocurrency mining, virtual condoms, cryptocurrencies, NFTs, downloadable media files, and financial services with cryptocurrencies.Medium and large-sized businesses have become increasingly interested in the metaverse in recent months. So far in 2022, more than 3,300 patents related to the metaverse have registered with the USPTO by brands worldwide.Among the most popular brands to have taken steps to enter the metaverse are such companies as NIKE, Stella Artois, Gucci, and Louis Vuitton.The XFL, a minor professional football league in the United States, recently submitted a trademark application for the name “XFL”, indicating that it has plans to enter the metaverse and the world of non-fungible tokens (NFTs).Additionally, the official trademark filing shows that the business intends to include an NFT marketplace, along with virtual goods and experiences, in its future plans.The Professional Golfers’ Association of America (PGA), which recently disclosed that it is finalizing agreements with Sorare and Autograph to launch golf NFTs, also submitted a new Web 3.0 trademark application for its logo.On the FlipsideThe metaverse is still at the stage of conceptualization. While many big players in the tech industry are trying to define and create a foundation for the metaverse, skeptics warn that there is no clear way to determine in which direction the metaverse will develop. Why You Should CareAccording to Verified Market Research, the metaverse market size was valued at $27.21 billion USD in 2020, and is projected to reach $824.53 billion by 2030. it is no surprise then that businesses are scrambling to expand their market potential into the digital world.Find out more about blockchain’s potential in intimacy:Sex-to-Earn Economy: an Unexpected Evolution of Move-to-Earn and Play-to-EarnFor more on the latest metaverse developments, check out:Top 10 Metaverses to Keep an Eye on in 2022Continue reading on DailyCoin More

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    in Cryptocurrency

    Bear Market Is An Opportunity For Blockchain Developers, Says Polygon Co-Founder

    More Opportunities to Develop Blockchain EcosystemsKorea Blockchain Week 2022 is taking place in Seoul, spanning one week, from August 7th to 14th. The event is co-hosted by FactBlock and Hashed, putting the spotlight on crypto and blockchain professionals, along with the industry at large.“In the bear market, the best part is that there [are] no buyers. The bear market is the cheapest to hire, it is also in the bear market that it’s very good to do marketing, because nobody else is spending that much money,” Nailwal said, speaking at the event virtually.
    Reports show that global demand for blockchain engineers is up 517%. According to LinkedIn, blockchain expertise is one of the fastest-growing skill sets. A report made by Upwork (NASDAQ:UPWK), a freelance job platform, states that blockchain development is one of the most in-demand skills among freelancers, with growth that exceeded 2,000% for three quarters in a row, and 6,000% in terms of year-over-year growth.Polygon Has Its MomentPolygon (MATIC) is an Ethereum Layer-2 scaling network that recently launched its testnet for zero-knowledge (ZK) rollup Polygon zkEVM, which promises fee reductions of 90%.Polygon was founded in late 2017 as the Matic Network. After the initial coin offering (ICO) meltdown of 2018, the network spent much of its early years of development trudging through the gruelling “crypto winter.”In November 2021, the market value of cryptocurrencies reached a height of approximately $3 trillion USD, but since the arrival of the so-called “new crypto winter,” that valuation has plunged to just $1 trillion.On the FlipsideAs seen throughout the past couple of months, the bear market can be devastating to crypto projects and businesses, so it remains unclear whether investing in the creation of the technical architecture of a project and its marketing will result in tangible future returns.Why You Should CarePolygon is gaining its hard-fought recognition. The project was selected as one of the 2022 participants for Disney’s ‘accelerator program’ on Wednesday, which triggered a rally for the project’s native cryptocurrency token MATIC, seeing it rise by more than 22%. Furthermore, Polygon recently closed deals with Coca-Cola (NYSE:KO) & Reddit. Following its implosion, many Terra Luna-based projects elected to migrate to the Polygon ecosystem.Read about Polygon’s (MATIC) recent growth and developments:Polygon (MATIC) Records 22% Weekly Gains Despite Crypto Winter – Here’s WhySharp (OTC:SHCAY) Rise in Whale Activity Detected on Dogecoin (DOGE) and Polygon (MATIC)Continue reading on DailyCoin More

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    in Cryptocurrency

    CoinLoan’s Survey Shows High Levels of Customer Satisfaction

    Based on the data collected, CoinLoan found the following:CoinLoan continues to be trusted despite current market conditions, according to the overwhelmingly positive feedback from its clients.With these partnerships, CoinLoan proves its commitment to its customers. To continue meeting and exceeding their needs, it plans to develop and expand its offerings.About CoinLoanCoinLoan is an EU-licensed crypto business that started as a project in 2017. Its platform offers Instant Loans against cryptoassets, Interest Account in crypto, and Crypto Exchange. These services are rendered both to individuals and corporate entities with the exceptions as required by the applicable laws. We provide our clients with the highest security standards and insurance on assets, allowing both corporate and private customers to benefit from the highest levels of protection.Its highly-competitive loan and APY rates, transparent pricing, and 24/7 human customer support service have resulted in high customer retention and satisfaction. CoinLoan’s platform allows swapping and managing a comprehensive and growing range of cryptocurrencies, including its native token and fiat currencies.The company is focused on continuous innovation through state-of-the-art technology and partnerships, bringing customers constant improvements and possibilities within the crypto world.For more information, please visit us at https://coinloan.io/.Continue reading on DailyCoin More

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    in Cryptocurrency

    Consumer watchdog group calls out celebrities for failing to disclose NFT affiliations

    The group revealed in a Monday notice that it had sent letters to several high-profile celebrities who promote NFTs on social media but fail to disclose how they benefit from the sales of such digital collectibles. The recipients of the letters include prominent figures like Floyd Mayweather, Eva Longoria, Tom Brady, Snoop Dogg, DJ Khaled, Paris Hilton, and eleven others, as well as target NFT collections like Bored Ape Yacht Club, Autograph, and World of Women.Citing longstanding Federal Trade Commission rules, TINA noted that celebrities are required to “clearly and conspicuously disclose” their material connection with the NFT companies they are promoting. Notably, the group had previously tackled Justin Bieber and Reese Witherspoon for their undisclosed endorsements for two NFT projects, inBetweeners and World of Women, respectively.TINA argues that while celebrities have the means to take significant risks with NFT investments, their followers may not be so buoyant. The group said:Continue reading on BTC Peers More

  • 125 Shares119 Views

    in Economy

    Ukraine says it has creditor approval for growth-related warrant changes

    The Ukrainian government launched a proposal in July to change conditions on its $2.6 billion of outstanding GDP (gross domestic product) warrants, a derivative security that triggers payments linked to economic growth. “Approximately 93% of Holders of the Notional Amount of Securities outstanding were represented for quorum purposes and approximately 91% of such Holders had voted in favour of the Extraordinary Resolution,” Tuesday’s statement said.Ukraine said that final results will be announced after a meeting on Wednesday.Kyiv is also asking creditors to defer payments on the war-torn country’s international bonds for 24 months as Ukraine seeks to avoid a potential $20 billion debt default. More

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    in Economy

    UK household energy bills forecast to top £4,420 a year

    Household energy bills in Britain are projected to peak at more than £4,420 a year on average next spring, posing a “fresh shock” for households already enduring a cost of living crisis.The energy consultancy Cornwall Insight on Tuesday raised its forecasts for Britain’s price cap following an announcement by the energy regulator Ofgem of contentious changes to the way the level is calculated. The latest forecasts are likely to heap fresh pressure on Conservative party leadership contenders Liz Truss and Rishi Sunak to offer more support for households this winter. The opposition Liberal Democrats have called for the next rise in the price cap, scheduled for October 1, not to be passed on to consumers — with the difference funded by an increase in the government’s recently imposed windfall tax on oil and gas producers. Oil and gas groups including BP and Shell have been generating bumper profits from the high prices.Cornwall Insight, which is among the most accurate forecasters of British domestic energy bills, warned the price cap could rise from £1,971 a year on average at present to £3,582 in October — an increase of more than 80 per cent. The cap would then jump to £4,266 in January before peaking at £4,427 in April next year, according to the estimates. Britain’s energy price cap dictates a maximum that suppliers can charge per unit of energy and also limits their profit margins. It affects the vast majority of the country’s households — about 24mn of an estimated 27.8mn — that are not on fixed-price deals. October’s price cap level will be announced by Ofgem on August 26.Cornwall Insight has sharply revised up its estimates following methodological changes announced by Ofgem last week that allow energy suppliers to recover the full costs of buying energy for their customers for the coming winter at current high wholesale prices. Before the changes, Cornwall Insight had been forecasting the cap to reach about £3,600 a year in January. Ofgem insisted it had to make changes to the price cap to avoid another slew of energy company collapses. Since January 2021, more than 30 energy retailers have gone bust. The costs of dealing with those failures are expected to exceed £4bn, which will be recovered via a levy on households’ energy bills.

    Investec was the first to warn last week that Ofgem’s adjustments could force January’s price cap beyond £4,200 a year on average, although the regulator at the time insisted the forecast was “a long way off” its own “working estimate” of where the price cap might be at the start of 2023.Ofgem said in response to the Cornwall Insight numbers that “the wholesale market continues to move extremely quickly so no forecast for next year is at all robust”.“We cannot stop others from making predictions but we would ask that extreme caution is applied to any predictions for the price cap in January or beyond,” the regulator added.Craig Lowrey, principal consultant at Cornwall Insight, acknowledged that the latest forecasts would come as a “fresh shock” to households already worried about how they will make ends meet this winter. He suggested it “may be time” to reconsider the energy price cap altogether. “If it is not controlling consumer prices, and is damaging suppliers’ business models, we must wonder if it is fit for purpose — especially in these times of unprecedented energy market conditions,” he said. More

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    in Cryptocurrency

    Singapore Regulator Reiterates Crypto Dangers Amid Hodlnaut Woes

    The Monetary Authority of Singapore has rescinded its in-principle approval for crypto lender Hodlnaut to obtain a license to provide digital payment token services under the Payment Services Act, an MAS spokesperson said in an emailed statement Tuesday. That came after Hodlnaut told MAS of its intention to withdraw its application amid its halt in customer withdrawals announced Monday. It had been one of the few firms granted in-principle approval by MAS under the Act.“MAS has been continually reminding the general public that dealing in cryptocurrency is highly hazardous,” the regulator’s spokesperson said in response to an inquiry about Hodlnaut’s situation. “Not only are the values of cryptocurrencies extremely volatile, customers’ monies are not protected under the law.”Entities that currently or previously have been affiliated with Singapore in some way have been at the epicenter of this year’s crypto meltdown. Bitcoin and Ether, the two biggest cryptocurrencies, are both down about 50% year-to-date. The Terra/Luna ecosystem suffered a massive collapse and hedge fund Three Arrows Capital is in liquidation. Lenders like Vauld and Babel Finance have halted customer withdrawals. Trading platform Zipmex also halted withdrawals, but it’s since partially unfrozen client funds.In its statement, the MAS noted that PSA licensing involves regulation around money laundering and terrorism financing risks as well as technology risks, but that the firms are not subject to risk-based capital or liquidity requirements, nor are they required to safeguard customer money or digital tokens from insolvency risk. It said that’s similar to the approach taken in most jurisdictions. Still, the trouble in the sector hasn’t had broader implications for the island nation, it said.“The turmoil in the cryptocurrency market has not posed financial stability risks in Singapore,” the MAS spokesperson said. “Spillover to the domestic financial system has been very limited as our key financial institutions do not have significant exposures to either distressed cryptocurrency firms or cryptocurrencies.”©2022 Bloomberg L.P. More

  • 125 Shares139 Views

    in Economy

    Problems remain with Kaliningrad transit despite EU deal – Russia

    MOSCOW (Reuters) – Russia’s Baltic exclave of Kaliningrad is bumping up against quotas imposed by the European Union for sanctioned goods that it can import across Lithuania from mainland Russia or Belarus, the region’s governor said on Tuesday.Lithuania infuriated Moscow in June by banning the land transit of goods such as concrete and steel to Kaliningrad after EU sanctions on them came into force.As part of a deal reached in July, the EU imposed limits on the volume of such goods crossing by land between Kaliningrad and mainland Russia or Belarus, based on average volumes over the last three years, to prevent Kaliningrad being used to dodge sanctions.Kaliningrad governor Anton Alikhanov estimated that the limits permit Russia to ship around 500,000 tonnes of sanctioned goods in total in both directions each year. But he said some quotas had already been reached, making it impossible, for instance, for Kaliningrad to import cement from Belarus – which used to account for around 200,000 tonnes a year.Moscow says trade with its outlying territory should not be subject to limits.”Today, we have already exhausted the limits set by Europeans for the transportation of goods by rail: for instance, certain kinds of iron, steel, oil products, fertilisers, antifreeze and timber,” Russian news agencies quoted Alikhanov as saying at a meeting of the Valdai discussion club on Tuesday.Russia’s former ambassador to Lithuania said that, while the transit deal had helped avoid the “worst case scenario”, the situation was “far from normal”. Alexey Isakov, expelled by Lithuania in March, was quoted by the Foreign Ministry as saying the quota system was “a gross interference in the internal affairs of our country”.The EU has imposed a barrage of sanctions on Russia and Belarus in response to Moscow’s decision to send troops into Ukraine in February, some of them from the territory of Belarus.Moscow says it had to protect Russian-speakers and defuse a military threat to its own security – allegations that Kyiv and the West dismiss as baseless pretexts for a war of acquisition. More