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In this article, we have curated a list of the top-5 crypto stories from this week that will help you stay in sync with the crypto ecosystem.
Meta, Facebook's parent company, is planning to launch a payments platform integrating cryptocurrencies. Meta filed five applications for a new platform called "Meta Pay" for customers to swap old-fashioned conventional money and cryptocurrencies last week in a record submitted to the United States Patent and Trademark Office (USPTO). Mark Zuckerberg, the CEO of Meta, has also announced that the business has begun testing digital collectibles on Instagram, indicating a move toward incorporating NFTs. According to the USPTO website, trademark applications might take about eight months to process the first action as of March. Since changing its name from Facebook to Meta in October 2021, the social media behemoth has unveiled a slew of measures ostensibly geared at helping cryptocurrency users.
Robinhood, a popular trading platform, is developing a non-custodial crypto wallet that will work with several blockchains. The new product will let customers access the decentralized web and various crypto opportunities. The wallet is set to be a standalone program that can store non-fungible tokens (NFTs) and connect to NFT exchanges. The platform has opened crypto withdrawals to users, allowing them to send crypto off the platform. The wallet is currently limited to seven digital assets.
As crypto payments continue becoming widespread in Dubai, Ashish Mehta & Associates, Solicitors, and Legal Consultants, a law firm have revealed plans to start accepting crypto for payments. Clients of the law company will be able to pay for services in digital currencies such as Tether (USDT), Bitcoin (BTC), and Ether (ETH). The company has partnered with a digital currency network that handles cryptocurrency payments and transforms them into dirhams (AED) automatically. An upcoming educational institution, Citizens school, has also announced plans to integrate a digital asset payment option. The school is seeking to offer students flexible payment options and is set to accept BTC and ETH.
LimeWire, a digital collectibles marketplace has announced that it has signed its first major music label partnership deal with the world leader in music-based entertainment, Universal Music Group (UMG). The marketplace will collaborate on making digital music collectibles accessible to a wider audience. The UMG lineup includes such famous artists as Taylor Swift, Kendrick Lamar, The Rolling Stones, U2, BTS, Chris Stapleton, The Weeknd, Abba, and Elton John. The agreement does not guarantee that any of those artists will release NFTs on LimeWire, but they will have the option to do so. UMG will grant licenses for LimeWire to work with its artists to create music based NFT projects using the LimeWire marketplace as part of this cooperation. LimeWire intends to launch its "formal campaign" later this month, followed by the debut of the marketplace.
Streaming music service Spotify has chosen a small set of artists to have non-fungible tokens (NFT) galleries embedded and promoted on their profiles. The NFTs will be displayed alongside the artists' songs and albums. Big NFT collectors Steve Aoki and The Wombats will be the first musicians taking part in the test. Madonna has also debuted a NFT on SuperRare last week in partnership with NFT artist Beeple. The three-part NFT video series titled “Mother of Creation” has been described as "quirky" and "spicy" due to its visual nature. The Voices of Children Foundation, The City of Joy, and Black Mama's Bail Out are three charity organisations that support moms throughout the world with proceeds from the sale.
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Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.