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Celebrity Photographer Kevin Lynch to Debut New NFT Series Based on His Iconic Kobe Bryant Photos – Yahoo Finance

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200-piece series is being hand-created by Miuzium
LOS ANGELES, June 8, 2022 /PRNewswire/ — Kevin Lynch, the noted celebrity photographer, today announced that they will soon debut a new NFT series based on Lynch’s iconic photos of Kobe Bryant, the late basketball star. The 200-piece “Kobe in Motion” series is being hand-created by Farrah and Faris Kojok and their team at Miuzium. Prospective buyers can sign up for the whitelist at Premint.
“I think people are going to be blown away by what Farrah and Faris Kojok have been able to do with my photos of Kobe,” Lynch said. “The series is very kinetic, a sort of homage to the revolutionary motion studies done by Eadweard Muybridge in the nineteenth century.” The series features 10 images of Bryant dribbling a basketball in a broad horizontal composition.
Miuzium opted to produce the series by hand, rather than through algorithms, because the technique makes each NFT truly unique. The series has a mint price of $3,000 per piece. The NFT is built on the Ethereum blockchain. Purchasing the NFT gets the buyer access to the future of the Kevin Lynch franchise.
Lynch is internationally recognized for his growing portfolio of conceptual portraiture. At turns graphic, glamorous and graceful, Lynch’s celebrity, fashion, advertising and fine art images have appeared in museums and galleries throughout Europe and the United States, including Hamiltons Gallery in London and Christophe Van De Weghe Fine Arts Gallery in New York.
Lynch’s work can also be seen in publications such as Wallpaper, GQ, Harper’s Bazaar, Men’s Journal, L’Uomo Vogue, InStyle and Rolling Stone magazine. His commercial clients include Walt Disney Studios, Paramount Pictures, Sony Pictures Studios, NBC/Universal, Miramax Films, The Weinstein Company and Warner Brothers.
A reception for his limited-edition book, “Octagon,” with more than 400 photographs documenting the four-year history of Ultimate Fighting Championship, was held in 2007 at Art Basel in Miami Beach, where his works from the book were also exhibited. Lynch has also shared images at The Annenberg Space for Photography in Los Angeles.
For more information about the series, visit https://premint.xyz/kobe-in-sequence/
For more information about Kevin Lynch, visit https://kevinlynchstudios.com/
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SOURCE Kevin Lynch
BUENOS AIRES (Reuters) -The International Monetary Fund (IMF) said Wednesday it had reached a staff-level agreement on an updated macroeconomic framework with Argentine authorities, allowing the country access to about $4.03 billion. The IMF said in a statement that the country had met all quantitative targets in the first quarter and that annual objectives remained unchanged, "specifically those related to the primary fiscal deficit, monetary financing, and net international reserves." "Such an approach provides a vital anchor for economic stability and growth in uncertain times," the IMF said, referencing the effects of the large external shock from the war in Ukraine on Argentina's economy.
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Tyler Hobbs' Fidenza NFT Project Gets $1M Pump Over 48 hours – CoinDesk

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

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

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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.
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