Kategorie: Crypto Business

According to a news release published Monday, the Dubai Virtual Asset Regulatory Authority (VARA) has granted Calvin Cheng Web 3 Holdings FZE a Virtual Asset License.

Calvin Cheng Web3 Holdings FZE is an NFT and Web3-focused firm started by entrepreneur and former Singaporean parliamentarian Calvin Cheng. The company will invest in projects targeted at integrating digital assets into various sectors, including fashion, media and entertainment.

First NFT provider to seek regulatory approval

The VARA license gives the company access to a structured and regulated market teeming with activity as more payers find Dubai’s investment environment attractive. Already, major cryptocurrency exchanges Binance, Crypto.com, FTX, and Bybit are among the leading recipients of the VARA license.

However, Calvin Cheng Web3 Holdings is the first NFT provider to actively seek regulation when it could operate without in many other jurisdictions—as such, acquiring the license adds to the company’s customer assurance and aligns with the Financial Action Task Force (FATF) regulations.

Membership NFT and fan token

Calvin Cheng Web3 Holdings FZE will offer customers access to two portfolios of NFTs – AmberX and CelebX.

AmberX is a membership NFT that will give qualifying members exclusive and VIP lifestyle access to the Amber Lounge, the leading pop-up lounge for Formula 1. Meanwhile, Celeb X offers an NFT and fan token engagement ecosystem where fans can directly engage their celebrities, including sports icons, models and actors.

About VARA

The Dubai Virtual Assets Regulatory Authority (VARA) is a regulatory body tasked with licensing and regulating the digital assets space in the UAE’s Dubai (except for the Dubai International Financial Centre (DIFC)). VARA was established under UAE laws in March 2022, the world’s first regulatory body dedicated to Virtual Assets. 

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Ripple has announced it has committed $100 million in funding towards blockchain innovation meant to scale carbon removal.

The funding, which will go into companies in carbon markets, is also earmarked for climate-focused fintech startups, Ripple said on Thursday.

According to the press release, the funds will also go into Ripple’s portfolio of programs targeted at helping it become net zero by 2030. Apart from that, Ripple will use the funds to support efforts in carbon credit tokenization as non-fungible tokens (NFTs).

This, the company noted, will occur on the XRP Ledger (XRPL), with blockchain technology helping to ensure the authenticity of carbon credit NFTs.

A ‘call to action’ on climate change

Brad Garlinghouse, the CEO of Ripple noted that the funding is the company’s “direct response to the global call to action” on climate change. He said that companies are being encouraged to deploy resources, and even talent as part of the global response to curbing emissions.

“While reducing emissions and transitioning to a low-carbon future are paramount, carbon markets are also an important tool for meeting climate goals. Blockchain and crypto can play a catalytic role in allowing carbon markets to reach their full potential, bringing more liquidity and traceability to a fragmented, complex market,” Garlinghouse added.

Today, @Ripple is committing to invest $100M to modernize carbon markets globally, through investing in carbon removal companies and supporting growth in carbon credit tokenization functionality (Hear me out, NFTs aren’t just about digital art…) https://t.co/MYrxEO6WfN

— Brad Garlinghouse (@bgarlinghouse) May 19, 2022

According to the Ripple chief, the $100 million commitment is one more step towards ensuring rising global temperatures are limited below 1.5 degrees Celsius.

Ripple has partnered with several companies within the carbon markets to help achieves its goals, including carbon mineralization firm CarbonCure Technologies, UN-backed tokenization startup Xange.com and carbon offsetting firm Invert.

The company is also collaborating with Energy Web Foundation, the Alliance for Innovative Regulation, and Rocky Mountain Institute. 

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Sneakmart, a French startup that seeks to enhance users’ Metaverse experience via tokenizing real-world sneakers, has announced a major collaboration with StockX, a leading shoe resale marketplace.

The partnership allows Sneakmart to offer access to sneaker NFTs to its customers via its Metakicks platform. The blockchain-based venture will see sneaker diehards and fans customize their collections as they tap into the world of digitization and Web3.

StockX is the official Sneakmart partner for physical sneakers and will handle delivery for all winners from the first Metakicks drop.

Unique sneaker NFTs with over $200k in prizes

The collection will feature 15 unique 3D-animated designs, with Metakicks boxes offering four levels of rarity: Rare, Super Rare, Epic, and legendary.

For its upcoming Metakicks drop, Sneakmart has lined up over $200,000 in prizes and has the backing of soccer celebrities such as Didier Drogba, Kinsley Coman and Marco Verratti.

Currently, products like the Nike Air Jordan 1 high have helped push the sneaker-related limited-edition NFTs to a $6 billion market. A booming secondary sales market and a massive shift towards leveraging Web3 means the fashion industry is just starting off, the platform wrote.

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LimeWire, the new NFTs marketplace that sprung from the discontinued popular music app of the early 2000s, has scored a huge deal with Universal Music Group (UMG).

The partnership with UMG, a world leader in the booming music and entertainment sector, adds to LimeWire’s steady return into the limelight.

Per a press announcement released on Tuesday, the deal with Universal Music allows the firm to offer its digital collectibles marketplace to several iconic record labels and revered artists.

UMG to license artists to LimeWire’s NFT marketplace

Labels that could tap into the LimeWire NFT marketplace to increase fan engagement via digital music NFTs and a Web3 experience include Interscope Records, Virgin Music, Republic Records, Def Jam Recordings, EMI, Capitol Records, and Motown Records.

Paul and Julian Zehetmayr, LimeWire co-CEOs, commenting on the collaboration, said that the partnership was a “true demonstration of the pace at which the music industry is embracing Web3.” 

“We’re thrilled to open up the LimeWire NFT ecosystem to Universal Music Group artists and fans and can’t wait to see the first creative projects being launched on the marketplace,” they added.

Important milestone reached! We’re thrilled to announce our partnership with Universal Music Group @UMG, opening up opportunities for music NFTs to all artists signed to Universal and UMG labels.

Read more here 👉 https://t.co/VHolELPC1e pic.twitter.com/JfE3IfMEQ0

— LimeWire (@limewire) May 17, 2022

Going forward, the partnership will allow for access to the licenses the marketplace needs to partner with artists signed up with UMG, with the collaboration translating to original music-based NFT projects.

The NFT space continues to grow as mainstream players, including governments, embrace the technology that allows for the creation and securing of digital items on the blockchain.

Monetization opportunities mean the industry is a perfect fit for artists and others looking to revamp their revenue streams. LimeWire will provide that to the UMG artists.

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Chelsea Football Club has entered into a $20 million per year partnership with WhaleFin, an Amber Group-backed crypto platform. Following the partnership, WhaleFin will become the official Chelsea FC sleeve partner starting in the 2022/23 season.

According to an official communication by Chelsea FC on their website and social media page, the WhaleFin’s logo, which features a blue whale, will be put on Chelsea FC players’ kits. The logo will replace the current Korean car manufacturer Hyundai’s logo which has lasted for four years.

We’re excited to reveal @WhaleFinApp, the digital asset platform powered by @ambergroup_io as our new sleeve partner from the 2022/23 season! 💙#AmberGroup | #WhaleFin

— Chelsea FC (@ChelseaFC) May 12, 2022

The football club also confirmed that it is considering replacing its main shirt sponsor, Three, which is a British telecom company.

First digital asset partner for Chelsea FC

Being the first cryptocurrency partner for Chelsea Fc, the partnership allows Amber Group to introduce WhhaleFin to Chelsea fans around the world.

After announcing the partnership, Chelsea’s Chief Executive Officer, Guy Laurence said:

“This is a hugely exciting partnership for the club, which aligns us with one of the most advanced digital asset companies in the world”

On his part the CEO of Amber Group, Michael Wu said:

“The game’s ability to rally a global audience regardless of culture, language and nationality can help promote digital assets.”

This partnership sets the entrance of Chelsea FC into the crypto world.

Manchester United, a key rival to Chelsea FC, already announced a multi-year partnership with Tezos, a blockchain group, whose name will feature on Manchester’s training gear. Liverpool, another English premier league football club, on the other hand, is also considering replacing their shirt sponsors with Standard Chattered.

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