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Grayscale filed a reply brief in its appeal of the United States Securities and Exchange Commission (SEC) denial of its application to convert its $12-billion Grayscale Bitcoin Trust (GBTC) into a spot-based Bitcoin (BTC) exchange-traded fund (ETF). The brief, filed in the District of Columbia Circuit Court, addressed points made in the SEC reply brief filed in December and restated its own arguments.The SEC based its decision on findings that Grayscale’s proposal did not sufficiently protect against fraud and manipulation. The agency had made similar findings in a number of earlier applications to create spot-based BTC ETFs. 1/ As part…

The Web3 space is growing rapidly, and new startups are emerging daily. Overall investment into Web3 projects skyrocketed to $30 billion in 2021 and $36 billion in 2022, even amid the market crisis. While many projects have good ideas and a strong value proposition to bring to the space, this is a challenging field riddled with competition and a lack of trust from the broader audience.Cointelegraph has established itself as a leader in the digital asset, Metaverse and emerging technologies media business since 2013, and is now looking to help other rising stars reach their full potential. Cointelegraph is delighted…

‘Degen’ season smells like pixelated feetFeetpix.wtf’s newly launched nonfungible token (NFT) collection, “Feetpix,” has seemingly taken the NFT community by storm with surging trading volumes, prompting some to suggest the return of “degen” season.Feetpix.wtf’s collection soared ahead of Bored Ape Yacht Club (BAYC) on Jan. 11 with the fifth-highest trading volume recorded on NFT marketplace OpenSea. Feetpix NFTs come in different skin tones, nail colors, shoes and backgrounds. Image: OpenSea.The project — which released 10,000 Feetpix NFTs — has traded over 825 Ether (ETH) ($1,157,000) across nearly 18,000 transactions since its release on Jan. 8.Crypto Twitter is still split on…

NFT Japan’s National Tax Agency has published an updated guideline related to the taxation of NFTs. Among other things, NFT transactions in blockchain-based games will be subject to taxation. Japan’s National Tax Agency has issued guidelines for the taxation of NFT transactions, including those involved in blockchain games. The authority published the guidelines, offering a simplified method to tax these transactions, which are numerous and frequent. The NTA stated that “in-game currency (tokens) are frequently acquired and used, and it is complicated to evaluate each transaction.” As such, the taxation would only consider the total income based on the in-game…

A special collector series of James Bond posters to celebrate the 60th anniversary of the franchise are set to drop on Veve.This is the second series to commemorate the occasion after the highly anticipated James Bond 007 Series 1 collection made its debut exclusively on VeVe in October 2022.The new launch has got Bond fans all in a clamor to get the all-important limited-edition collector NFTs, and of course, it brings many newbs into the Web3.Special Collector Series 2 of James Bond Posters The year 2022 was a major milestone in the film industry: 60 years since the premiere of the…

It’s no secret that the crypto market isn’t in perfect shape. And as you know, the value of the vast majority of NFTs is closely tied to the crypto market. One ETH, for instance, is now worth roughly $1,300, which is a far cry from the $5,000 it was worth in November 2021.This downward trend hasn’t been great for NFT artists, who have had to lower their expectations drastically. But despite the current market conditions, they’re not giving up. Many are getting more creative than ever before. Let’s look at how the crypto downturn affects NFT artists and what they’re…

Influence announces the date for phase 3 of their test and earn game preview. Offering new features, functionality, and chances to earn SWAY tokens, this event begins on January 25th and is open to everyone! This will be the third of the test and earn events from Influence. During these events, players who participate and complete specific tasks can earn SWAY tokens. In the past, tasks have included things such as buying an asteroid or creating a crew member. This upcoming release brings us a number of new features related to extracting, moving, and storing resources. Now players can get…

The sense of smell has been added to the virtual reality (VR) experience as showcased by metaverse-focused companies at the Consumer Electronics Show (CES) 2023.A recent report from consulting firm McKinsey & Company predicted that the metaverse could potentially generate $5 trillion in value by 2030. However, the report noted that metaverse success would need a more developed human aspect that delivers positive experiences to its users. One of these catalysts may be the integration of the sense of smell and touch into VR experiences which were showcased at the recent CES. As reported by Fortune, one of the firms…

DOGAMÍ, a Web3 game featuring companion pets, raised $7M in a seed funding round led by Berlin and Paris-based VC firm XAnge. The investment round also included Bpifrance, a French investment bank, Wagram Capital, and Blockchain Founders Fund. The $7M seed funding follows an initial round of $6M that took place in January 2022 in which Ubisoft, Animoca Brands, The Sandbox co-founders, Draper Goren Holm, Tezos, GSR, and other strategic investors backed DOGAMÍ. The game company secured a total of $14M in funding with these rounds. Following the seed funding, Max Stöckl, Co-founder and CEO of DOGAMÍ, said, “With DOGAMÍ, we aspire to…

Less than 48 hours after a raid on cryptocurrency lender Nexo’s offices in the Bulgarian capital of Sofia, prosecutors have reportedly charged four people.According to a Jan. 13 report by Bloomberg, authorities charged four Bulgarian nationals with forming an organized crime group, which may have included activities related to money laundering and unlicensed banking. The country’s National Police Service reportedly seized a number of assets as part of the investigation, including cryptocurrency, cash and computers.Following the Jan. 12 raid, Nexo described prosecutors’ actions as a “kick first, ask questions later” approach. The company reportedly planned to file a lawsuit seeking…