Connect with us

NFT

Leading Bitcoin NFT Marketplace Gamma.io Announces Web3 Social Platform – PR Newswire

Published

on

Searching for your content…
In-Language News
Contact Us
888-776-0942
from 8 AM – 10 PM ET
News provided by
Apr 27, 2022, 11:00 ET
Share this article
Launched in September, the Bitcoin NFT platform announced its new brand, focused on the goal of becoming the world’s Web3 social hub, centered around NFTs
PALO ALTO, Calif., April 27, 2022 /PRNewswire/ — STXNFT, the leading open marketplace for Non-Fungible Tokens (NFTs) on the Stacks programming layer, secured by Bitcoin, has announced today its new brand Gamma.io and its plan to become the world’s Web3 social hub centered around NFTs. As digital asset ownership proliferates, Gamma will provide a platform to serve as the home for collectors, creators, and investors to come together to explore, trade, and showcase extraordinary NFTs through the Bitcoin ecosystem.
Leading marketplace for Bitcoin NFTs has announced new brand, Gamma.io, and plan to become the world’s Web3 social hub.
To celebrate its creator-first platform, Gamma has commissioned a series of original artworks by a group of artists and creators in the space. The collection, titled "Together, with Gamma," features several dozen digital collectibles of varying styles, each depicting the theme of people coming together around Bitcoin and Web3. The collection will mint on its platform, where 100% of revenues and royalties will be distributed to the artists with works featured in the collection.
Though a large portion of today’s NFTs exist on Ethereum and other blockchains, Gamma believes strongly in Bitcoin’s decentralization, as well as its widespread trust and adoption as a settlement layer for assets — and extending this to non-fungible tokens.
NFTs originated on the Bitcoin blockchain in 2016, but made their way to other chains due to base layer technology limitations on Bitcoin. Breakthroughs for smart contracts settled on the Bitcoin base layer have led to a revival of NFTs on Bitcoin, the first, largest, and most decentralized blockchain. The company believes that unlocking Bitcoin’s capital and making it productive will accelerate the adoption of Web3 technologies and the value they bring to individuals and organizations.
"We have seen how NFTs have revolutionized the world of digital assets over the past year, connecting artists, collectors, curators, and creators. We’ve made friends, found communities, and invested in projects we’ve believed in, through this powerful tool that has brought people from all over the world, together." said Gamma Founder and CEO, Jamil Dhanani, a Stanford graduate student and former Apple engineer. He continues, "Gamma is the next step in that evolution, doubling down on community and putting the collectors, artists, and curators first."
About Gamma
Gamma is the leading open marketplace for Bitcoin-secured NFTs, powered by Stacks. Gamma consists of three core platforms: its user-first marketplace for exploring and collecting NFTs, its creator-first launchpad for artists to deploy fully-tested no-code, smart contracts in minutes, and its social platform, which brings together creators and collectors in an engaging and Web3-native way. Gamma supports hundreds of NFT collections, nearly 500 of which were deployed using its no-code portal. Its marketplace has facilitated millions of dollars of transactions in under six months and supports trading the largest number of NFT contracts of any platform built on Bitcoin.
SOURCE Gamma.io
Cision Distribution 888-776-0942
from 8 AM – 9 PM ET

source

NFT

Tyler Hobbs' Fidenza NFT Project Gets $1M Pump Over 48 hours – CoinDesk

Published

on

source

Continue Reading

NFT

DOJ Asks Congress for Tools to Limit NFT Money-Laundering Risk – PYMNTS.com

Published

on


Down at the very bottom of the crypto crime report the Justice Department issued last week was a request that could make it a lot harder to buy and sell NFTs.
Citing examples of criminals using the sale of the popular nonfungible tokens that hold art, video, music and collectibles to launder funds, the Justice Department asked Congress to define some of all NFTs as “value that substitutes for currency” under the Bank Secrecy Act (BSA).
Doing so, it said in “The Role of Law Enforcement in Detecting, Investigating, and Prosecuting Criminal Activity Related to Digital Assets,” would “make clear that its key [anti-money-laundering (AML) and countering the financing of terror (CFT)] provisions — including the obligations to have customer identification programs and report suspicious transactions to regulators — apply to NFT platforms, including online auction houses and digital art galleries.”
See also: DOJ Seeks to Double Jail Time for Money Transmission Crimes
The impetus, the department said, is the “explosive growth in the demand and corresponding markets for NFTs, perhaps most notably in the area of digital art.”
Substantial Risk
This “presents substantial money-laundering risks,” it said, citing a February Treasury Department study on money laundering in the broader art market.
“NFTs can be used to conduct self-laundering, a sequence in which criminals purchase an NFT with illicit funds and then resell to a purchaser who pays for it with clean funds unconnected to a prior crime,” that report noted.
It also found that in most cases, “digital assets that are unique, rather than interchangeable, and that are used in practice as collectibles rather than as payment or investment instruments … are generally not considered to be virtual assets under [international regulations].”
The “nonfungible” part of NFT means that each is unique and cannot substitute for any other, as opposed to cryptocurrencies like bitcoin which all have the same uses and value.
NFT marketplaces “may take the view that this definition [of a ‘value that substitutes for currency’] does not apply to their activities — and that they are thus not subject to the BSA’s anti money-laundering and anti-terrorism laws, the department said.
Justice is asking Congress to amend the BSA “to make clear that its key AML/CFT provisions — including the obligations to have customer identification programs and report suspicious transactions to regulators — apply to NFT platforms, including online auction houses and digital art galleries.”
Already There
Redefining NFTs as “value that substitutes for currency” would allow the Treasury Department’s Financial Crimes Enforcement Unit (FinCEN) to “potentially seek to regulate such activity under its money transmission regime,” a trio of lawyers at Skadden, Arps, Slate, Meagher & Flom wrote in an April blog post.
That, according to Jamie Boucher, Eytan Fisch and Javier Urbina, would require NFT marketplaces to register as money services businesses (MSB) with FinCEN.
Some types of NFTs — notably those used to fractionalize tangible assets like physical artworks and real estate, but also other valuable art or collectible tokens — are likely securities, the Securities and Exchange Commission (SEC) has said.
See more: How Did NFTs Become SEC’s Newest Crypto Target?
In FinCEN’s view, the trio noted, those can be repurposed to fit the definition of “value that substitutes for currency” and thus may already require MSB licenses.
 
For all PYMNTS crypto coverage, subscribe to the daily Crypto Newsletter.
New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking services, just 9.3% call them their primary bank.
Sign up for our daily newsletter.
You have successfully joined our subscriber list.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More
Sign up for our daily newsletter.
You have successfully joined our subscriber list.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More

source

Continue Reading

NFT

FTX Talking With Investors for $1B Fundraising at $32 Billion Valuation – NFTgators

Published

on

Quick take:
Although Binance maintains its number one spot in terms of crypto transaction volume, FTX is catching up quick after rising to third, behind Coinbase. This could change soon given the steps FTX is taking in web3.
According to reports, Sam Bankman-Fried’s company is seeking $1 billion in a new round of funding at a valuation of about $32 billion. That values FTX twice the value of Coinbase— whose market cap stands at just over $14 billion, and at least 7-fold Binance’s most recent valuation of $4.5 billion.
And there is a good reason for the disparity in market share (volume-wise) and overall valuation. FTX is more than just a crypto exchange platform. 
The company has expanded its ecosystem to include stock trading, NFTs, crypto lending services and more, all forming significant operational synergies for the rapidly growing web3 company.
It explains why investors are placing such value on FTX. According to sources close to the $1 billion fundraising talks, the figure could change by the time the round is closed, CNBC reported, citing people who did not want to be named.
FTX has been one of the most active investors in the web3 space during the crypto winter. The company is in the process of acquiring the crypto lending platform Blockfi for a reported amount of $240 million.
Last year, it acquired crypto derivatives platform LedgerX allowing it to offer derivatives trading alongside traditional crypto exchange services.
Earlier this year, the company purchased Good Luck Games, the developer of the card battle game Storybook Brawl for an undisclosed amount. The acquisition added another perspective to FTX’s business pouncing on the rapidly growing web3 gaming sector.
The company also recently announced a partnership with online game retailer Gamestop to onboard the gaming community to web3.
In July, Bankman-Fried refuted claims that FTX was planning to buy retail stock brokerage platform Robinhood after Bloomberg published a report suggesting discussions were underway.
News about the new fundraising come hot on the heels of the company’s $900 million raise announced in July. FTX also raised $420 million in October 2021.
Stay up to date:
The Embassy of Israel in Korea Opens Pavilion in the Metaverse
Bored Ape Yacht Club #2883 Was Today Sold For 105 ETH
Leading NFT Collections Are Seeing a Rise In Median Price
Uniswap Labs Acquires Genie, Announces Uniswap NFT
New NFT Marketplaces Bid to Dethrone OpenSea From Top Spot
Space Runners Ramps Up the Development of Its Metaverse-Only Fashion House with $10M Round

source

Continue Reading

Trending

Copyright © Diaily Meta News