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According to local news outlet News1, Busan, South Korea will establish a decentralized digital commodities exchange. Officials said the platform is scheduled to start operations this year and will support local cultural content via digital assets.“Taking advantage of the strengths of Busan, such as the Busan International Film Festival, G-Star; [the exchange] will include tokenization of intellectual property rights in the film and game fields, as well as gold, precious metals, agricultural and livestock products, ships, real estate, etc.”As told by the Busan Digital Asset Exchange Establishment Promotion Committee, the plan involves coordinating domestic financial companies and digital asset exchanges…

When National Geographic announced its first NFT collection, they did not expect the kind of backlash they received. The nature-centric magazine hoped its audience would embrace NFTs. After all, the magazine has dedicated its efforts to covering animals such as apes, which happen to be quite popular within the NFT space.Problems began on Monday when the magazine posted an image of a Bored Ape Yacht Club NFT on its social media accounts. The goal was to prepare its large audience for the imminent launch of its Genesis Collection on Polygon. The NFT collection features work from 16 of its top…

There is still some time left to register for the 2.0 version of the Metalands alpha! This FPS game will introduce a new PvP mode that adds a twist to the idea of battle royale. The registration for Metalands alpha 2.0 remains open through Friday, January 27th. Interested players can register at the official Google docs form. The Metalands team says that selected players will receive rewards. Likely for those who find important or tricky bugs and those who provide quality feedback. Or maybe it will just require some active participation in the alpha playtest! The previous alpha preview only…

The CEO of crypto exchange FTX has rejected calls for its law firm to be replaced as lead counsel in its bankruptcy case. John J. Ray III, who was appointed as the new FTX CEO on Nov. 11, filed a court motion on Jan. 17 arguing that Sullivan & Cromwell has been integral in taking control over the “dumpster fire” that was handed to him. Ray suggested that retaining their services is in the best interest of FTX creditors, arguing:“The advisors are not the villains in these cases. The villains are being pursued by the appropriate criminal authorities largely as a…

As the Web3 space continues to grow and evolve, there are now several defined aspects that users tend to affiliate it with. Whether one likes to use crypto for payments or is interested in hunting down the latest NFT collectible, the crypto space is rapidly diversifying what it can offer users. Regardless of the sub-sector, Web3 continues to onboard new users.According to the latest DappRadar industry report, the number of unique active wallets that connected to a blockchain-based application on a daily basis rose significantly in 2022. While in 2021, the blockchain industry saw an average daily wallet count of…

Yuga Labs launched its latest NFT collection, the ‘Sewer Pass’, which sees a new move that puts creators first.The NFT project is built in the Bored Ape Yacht Club ecosystem, and interest was high after yielding over 4000 ETH on its first day.Those who own a Bored Ape Yacht Club or Mutant Ape Yacht Club NFT were eligible to receive a free Sewer Pass. This will act as a key to playing Dookey Dash. Anyone who plays the game from January 19 to February 8 will accumulate scores that will be used in what Yuga Labs is calling ‘Chapter 1’.The…

Noncustodial peer-to-peer crypto exchange Bitzlato was little known to some before the United States Department of Justice (DOJ) enforcement action against it on Jan. 18. It was co-founded in 2016 by recently arrested Russian national Anatoly Legkodymov.According to a Russian source, Legkodymov is the owner of 73.4% of Bitzlato, which has an office on a high floor in the Federation Tower skyscraper in Moscow, where it accepted trades of $100,000 or more. Legkodymov and his main partner in Bitzlato are also reportedly involved in Russian crypto mining equipment distribution company A-HVT.Legkodymov had a long and checkered history in the crypto…

The nonfungible token (NFT) industry has experienced some market turbulence over the past few months, but this hasn’t stopped both Twitter and Instagram from making moves into an industry that some estimate could be worth $231 billion by 2030. This comes off the back of Twitter having recently announced NFT Tweet Tiles and Instagram releasing an array of different NFT-related tools, and many NFT enthusiasts are naturally starting to deliberate which one will come out on top as the go-to social media platform for NFTs. Going by their unique value proposition and recent events, it is evident that Instagram currently has…

The total crypto market capitalization soared by 29.4% in two weeks, although Bitcoin’s (BTC) price stabilized near $21,000 on Jan. 19.As a result, it became increasingly difficult to justify that the 5-month-long bearish trend still prevails after the $930 billion total crypto channel top has been breached. Still, the psychological $1 trillion resistance remains strong.Total crypto market cap in USD, 2-day. Source: TradingViewThe move possibly reflects investors becoming more optimistic about risk assets after weaker than expected inflation metrics signaled that United States Federal Reserve interest rate hikes strategy should ease throughout 2023.However, Klaas Knot, who serves as the governor…

NFT Donald Trump’s NFT collection has condensed much of the wild volatility of the NFT space into its first five weeks of existence: it faced widespread ridicule but ultimately sold out, then saw prices and sales surge before quickly crashing. Now, sales are suddenly skyrocketing again. Total daily sales volume for the official Trump Digital Trading Cards collection rose nearly 800% from Tuesday to Wednesday, jumping from about $34,000 worth on Tuesday to over $306,000 worth yesterday. That’s according to data from analytics platform CryptoSlam, which shows continuing momentum with some $241,000 worth of sales so far today. At one…