Today's Highlights:
- 1 Sequoia Capital launches a cryptocurrency investment fund of $500-600 million
- 2 Universal Music Group has partnered with the NFT platform Curio to develop NFTs for record labels and artists
- 3 Ethereum beacon chains exceed 75% of Byzantine behavior is not punished by slash
- 4The Graph launches a $205 million ecosystem fund
- 5 The China Banking and Insurance Regulatory Commission issued the "Risk Tips on Preventing Illegal Fund-raising in the Name of "Meta-Universe""
- 6 The Russian Ministry of Finance is open for comments on the crypto bill
- 7 Sorare offered as much as $300 million to $590 million in the Premier League NFT authorisation bid
- 8G20 Group Finance Ministers and Central Bank Governors Meeting: Strengthen the analysis of crypto asset regulatory policies and solve regulatory gaps
Today's topic: The matter of speculating in the meta-universe, finally someone came out to manage!
Today, the Banking and Insurance Regulatory Commission officially issued the "Risk Tips on Preventing Illegal Fund-raising in the Name of "Meta-Universe"", which made risk warnings for hot issues such as meta-universe game fraud and meta-universe real estate circle money. Since the meta-universe concept has caught fire, speculating in the meta-universe has become a new investment method for many people, and in December 2021, a piece of virtual land on the meta-universe platform Sandbox was sold for about 32 million yuan, setting a new record for the transaction price of meta-universe real estate.
Many people can't understand this man. It is difficult to say when the metacosm will really land, but speculators have already made a lot of money by speculating in the metacosm at this stage. The Banking and Insurance Regulatory Commission issued a risk tip, pointing directly at the meta-universe real estate circle money, will this slow down the rush of meta-universe real estate? Welcome to discuss with us in the comment area, we will also choose three of all the participating netizens, each person will give away 10QB rewards.
Regulatory messages
The China Banking and Insurance Regulatory Commission issued the "Tips on Preventing the Risks of Illegal Fund Raising in the Name of "Meta-Universe""
The General Office of the China Banking and Insurance Regulatory Commission (CBIRC) today issued the "Tips on Preventing the Risks of Illegal Fund-Raising in the Name of "Meta-Universe", which is as follows:
Recently, some lawbreakers have rubbed hot spots to absorb funds in the name of "meta-universe investment projects" and "meta-universe chain tourism", suspected of illegal fund-raising, fraud and other illegal and criminal activities, and now the relevant methods and risks are prompted as follows:
1. Fabricating false meta-universe investment projects. Some lawbreakers have stirred up concepts such as game production, artificial intelligence, and virtual reality related to the metaverse, fabricated high-tech investment projects with many names, publicly and falsely publicized high returns, and taken advantage of opportunities to absorb public funds, which has the characteristics of illegal fundraising, fraud, and other illegal acts.
Second, fraud in the name of metaverse blockchain games. Some criminals bundle the concept of "meta-universe", claiming that "making money while playing games" and "short investment cycle and high returns" trick participants into investing by exchanging virtual currency and purchasing game equipment. This type of game is highly confusing, and there are risks such as running away from the volume.
Third, malicious speculation meta-universe real estate circle money. Some criminals use the concept of meta-universe hotspots to render the expectation of virtual real estate price increases, artificially create the illusion of rushing to buy, and lure them into the market to hoard and buy, and must be vigilant against such speculation and speculation risks.
Fourth, disguised to engage in meta-universe virtual currency illegal profits. Some criminals claim that the virtual currency issued is the future "meta-universe currency", inducing the public to buy investment. Such "virtual currencies" are often spontaneous air coins of criminals, mainly through price manipulation, setting thresholds for withdrawal and other behind-the-scenes means to illegally profit.
The above activities, under the banner of "meta-universe", are more attractive and deceptive, and participants are prone to property losses. The public is requested to enhance their awareness of risk prevention and identification ability, beware of being deceived, and if clues of suspected violations and crimes are found, please actively report to the relevant local departments.
Draft G20: Discussions on central bank digital currencies will continue to understand the impact on the financial system, spillovers, and capital flows
According to the official website of the Chinese Min min bank, Yi Gang, president of the People's Bank of China, attended the meeting of the G20 finance ministers and the central bank governor online, and Yi Gang, president of the People's Bank of China, attended the meeting and spoke by video link. The meeting agreed to strengthen the resilience of the global financial sector, improve the resilience of non-bank financial intermediaries to risks, and continue to implement the G20 Roadmap for Improving Cross-Border Payments. The G20 will continue to comprehensively assess the potential impact of technological innovation on global financial stability, and encourage relevant international institutions to strengthen the analysis of regulatory policies for crypto assets and address regulatory gaps.
The Russian Ministry of Finance opened a public call for comments on the crypto bill for a period of one month
The Ministry of Finance of the Russian Federation has officially launched work on the country's cryptocurrency regulation bill and made its first announcement on the federal law portal.
Russia's finance ministry submitted two notices on Thursday announcing the start of developing a legal framework for activities related to digital currency transactions and their issuance. The first notice, titled "On Digital Currencies," informs the government to initiate a public consultation on rules for trading digital assets, inviting financial market participants, citizens, and legal entities to make proposals. The second notice details a similar process for possible amendments to other federal laws that may be required for "digital currencies." According to the notice, the ministry expects to complete public consultation on the encryption bill by March 18.
Earlier, Russian Finance Minister Siluanov said that the government will cooperate with the central bank to resolve disputes over cryptocurrencies, saying that it hopes to pass a bill regulating cryptocurrencies before the end of the year.
Singapore currently has no plans to regulate NFTs
PANews reported on February 17 that According to The Block, Tharamman Shanmugaratnam, senior minister and head of the Monetary Authority of Singapore (MAS), said that there are no plans to regulate NFTs, regulators take a "technology-neutral" stance on NFTs, but the Monetary Authority of Singapore's position on NFTs may change, and concepts such as fragmented NFTs may require regulation by the agency. If the structure of the NFT represents rights to the portfolio of listed shares, it will be subject to prospectus requirements, licensing and business conduct requirements like other collective investment schemes.
It is reported that in January this year, as many as 9 companies in Singapore have been involved in crypto collectibles and meta-universe related business.
The Central Bank of Spain authorized Bit2Me to become the country's first crypto service provider
Spanish cryptocurrency exchange Bit2Me announced on Thursday that it had received approval from the Central Bank of Spain as "the first service provider to convert virtual currencies into fiat currencies and host digital wallets." Bit2Me will now be able to offer a white label service to Spanish banks, allowing crypto transactions to take place on its platform, adding that it is currently in talks with "several banks."
The company said in a statement that Bit2Me offers encryption services in more than 100 countries, with transactions of 1.1 billion euros ($1.25 billion) in 2021.
The U.S. issued an executive order on cryptocurrencies as early as or next week
According to Sources quoted by Yahoo Finance, the Biden administration is preparing to issue an executive order on cryptocurrencies as early as next week, which will guide various agencies to study different aspects of digital assets. The U.S. Treasury, State, and Attorney General's Office will study CBDCs (Central Bank Digital Currencies); the Financial Stability Oversight Board (FSOC) will review the stability of cryptocurrencies; the Consumer Financial Protection Agency will study how crypto affects market competition; and the U.S. Securities and Exchange Commission (SEC) and U.S. Commodity Futures Trading Commission (CFTC) will study market protection.
The U.S. government will also consider coordinating with the rest of the world to standardize encryption rules. The U.S. Department of State, The Treasury, the Department of Commerce, and usaic agency for international development will work to establish interagency frameworks for international engagement with foreign counterparts in international forums to enhance the adoption of digital assets and standardize rules.
NFT
Sorare offered as much as $300 million to $590 million in the Premier League NFT authorisation bid
According to the British Daily Mail, the Premier League has invited companies to bid for its NFT license, and NFT platforms Sorare, Dapper Labs, Candy and ConsenSys have entered the final stages of the Premier League's NFT licensing bidding.
Among them, Sorare, France's Ethereum-based fantasy football and digital collection platform, is preparing to launch a series of digital collectibles to the Premier League, offering offers ranging from £220 million ($300 million) to £434 million ($590 million) over four years.
Previously, in September last year, the Sorare platform completed a $680 million Series B financing with a valuation of $4.3 billion, led by SoftBank.
Universal Music Group has partnered with the NFT platform Curio to develop NFTs for record labels and artists
According to Channel News Asia, Universal Music Group has partnered with NFT platform Curio to develop the NFT series for its record labels and artists.
Universal Music said it plans to work with Curio to develop digital artwork and other collectibles for the company and its artists. Curio will also serve as an online store that allows users to purchase officially licensed NFTs, launching the first NFT series in March in partnership with Capital Music Group and British singer-songwriter Calum Scott.
Russian figure skating Olympic champion "Ice Prince" Plushenko will create iceDeer NFT to help the Winter Olympics
The famous Russian figure skater Proshenko, known as the "Ice Prince", announced on his personal Twitter that he would release 10,000 IceDeer NFTs in Opensea to help the Beijing Winter Olympics. He was a gold medalist at the 2006 and 2014 Winter Olympics and a silver medalist in 2002 and 2010. He has won 3 world championships, 7 European championships and 10 Russian championships. It has 566,000 followers on Twitter.
It is reported that each iceDeer NFT will be given a special "identity" and rights by Plushchenko, and having it can not only become a member of the IceDeer Club, but also enjoy more benefits. At the same time, according to The official content of Pushanko, he will also choose one of the 10,000 IceDeer NFTs as his social platform avatar and cheer for the Winter Olympics in a special Crypto way.
Former Universe
Indian dating platform Mingout kicks off the metaverse dating trend
Dating platform Mingout launched metaverse dating in India, organizing a moon-based virtual date for two users, According to Forkast. Metaversities or virtual dating are still a nascent concept in India, and Mingout hopes to create a dating revolution that will make it accessible, fun, and immersive. Mingout has conducted more than 1,000 virtual dates over the past year, but this metaverse integration could provide some of the most immersive and interactive experiences for this generation of single men and women.
Project dynamics
Ethereum beacon chains exceed 75% of Byzantine behavior unpunished by slash
In their joint paper" titled Contract Execution and Decentralization Consensus: The Slashing Case, Zhiguo He of the University of Chicago and Jiasun Li of George Mason University claimed that more than 75% of the Ethereum beacon chain was not punished by Slash for byzing. Many new blockchain applications rely on "staking and slash" mechanisms to adjust incentives, but the design of this "contract" problem cannot be designed to be divorced from the details of the decentralized consensus-forming process, the paper said. Through empirical studies of Ethereum 2.0, the authors found that more than 75 percent of Byzantine behaviors evaded slashing, highlighting that Slashing may not be as effective as generally thought. The Ethereum community said that this is a bug in beacon chain ( Beacon Chain ) , not a client bug , the problem is quite complex, and will be resolved as soon as possible.
It is reported that Slash collected a fine from the 32 ETH pledged from the node. No amount of Slash can be replaced, and if a node drops below 16 ETH due to Slash's fine accumulation, the node automatically exits from the network. Ethereum 2.0 relies on the Byzantine fault tolerance threshold, and two-thirds of the validators in the network must be guaranteed to be honest participants.
The Graph launches a $205 million ecosystem fund
The Graph, an on-chain data indexing protocol, announced the launch of a $205 million ecosystem fund powered by Multicoin Capital, Reciprocal Ventures, gumi Cryptos Capital, NGC Ventures, Digital Currency Group and HashKey. The fund will fund teams that use The Graph query technology to build Dapps in diverse areas such as decentralized finance (DeFi), non-homogeneous tokens (NFTs), decentralized autonomous organizations (DAOs), markets, cross-chain infrastructure, and metaversities. Developers use The Graph to access blockchain data through Subgraphs' open inter-program communication protocol (API), and the retrieved data is used to power a variety of dapps, making The Graph a key component of the Web 3 infrastructure.
The Algorand Foundation launches the $10 million SupaGrant award, with a focus on EVM compatibility
The Algorand Foundation has officially announced a $10 million SupaGrant award for teams exploring and accelerating the technical work needed to provide EVM compatibility on Algorand.
Financing messages
Sequoia Capital spent $500 million to enter the cryptocurrency market
According to The Block, Sequoia Capital has launched a $500-600 million cryptocurrency investment fund with a single project size of between $100,000 and $50 million, and plans to participate in the process from pledge to liquidity provision to governance.
It is Sequoia Capital's first sector-specific fund since its inception in 1972 and one of the first sub-funds launched after the company announced a major restructuring in October last year.
Sequoia Capital partner Maguire said the agency is particularly interested in cross-chain interoperability and GameFi projects and believes multi-chain is the future. Maguire said: "We are still in the absolute infancy. Cryptocurrencies will be the biggest trend in the next 20 to 30 years. ”
Venture capital firm Cherry Ventures launches a €30 million crypto and Web3 fund
Berlin, Germany-based venture capital firm Cherry Ventures has announced the launch of its first crypto and Web3 fund, Cherry Crypto I, with a fund size of €30 million (about $34.077 million). The fund will be used to build a centralized portfolio that invests in only 30 companies or projects, including decentralized networks or companies. Cherry Ventures said the fund has included projects such as Lido, Radicle, Morpho, Blackpool, Brahma, Unlock and CoW Protocol into the fund's portfolio over the past year.
Important data
Data: Bitcoin mining difficulty reached 27.97 T, a record high
CoinWarz, an on-chain analytics tool, said that the difficulty of mining in the Bitcoin network reached a new high of 27.97 T. This is the second time in three weeks that Bitcoin's mining difficulty has hit an all-time high. Previously, on January 23, when the hash rate was 190.71 EH/s, the mining difficulty reached 26.7 T.