Connect with us

Projects

Gary Vaynerchuck, Mike Novogratz and Fanatics Partner Up To Launch Digital Candy

According to a statement posted by Fanatics on Tuesday, Major League Baseball will be Candy’s first partner.

Published

on

Nearly two years after the introduction of the non-fungible token platform NBA Top Shot, a new group of entrepreneurs has launched Candy Digital to capitalize on the lucrative sports NFT sector.

Fanatics executive chairman Michael Rubin, Galaxy Digital founder and CEO Mike Novogratz, and digital media mogul Gary Vaynerchuck are all part of the agreement. According to a statement posted by Fanatics on Tuesday, Major League Baseball will be Candy’s first partner.

Candy’s biggest stakeholder will be Fanatics, a sports merchandise firm. Novogratz and Vaynerchuk will be co-chairs and equity partners. Vaynerchuk will serve on the board of directors and as an advisor.

Each member of the team brings a distinct set of skills to the table. Rubin is the brains behind the largest licensed sports gear retailer in the world. More than 80 million people are fans of Fanatics.

Vaynerchuk is the creator of VaynerMedia, a digital media company, and VaynerSports, an athlete management organization. He was an early entrant into the sports card market. Novogratz, a former hedge fund manager, is one of Wall Street’s most outspoken and well-respected crypto enthusiasts.

“While the NFT space has traditionally focused on a small community of crypto-first customers, Candy’s sophisticated team is building immersive brand experiences that appeal to crypto-savvy players, consumers, memorabilia collectors, and sports fans alike, and Galaxy looks forward to participating in the evolution in collectibles,” said Mike Novogratz, founder and CEO of Galaxy Digital and co-chair of the Advisory Board of the National Football League.

Candy is seeking to take advantage of the current surge in interest in the sports NFT sector. Investors flocked to assets like autographs and trade cards, causing NFTs to skyrocket early this year. Over the last six months, sports NFTs have dominated headlines and generated millions of dollars in revenue.

With its Candy agreement, Major League Baseball is following in the footsteps of the National Hockey League and the National Basketball Association.

Commissioner of Baseball Robert D. Manfred, Jr. said in a statement, “From trading cards to autographed balls, baseball fans have exhibited their devotion for the sport and its players through memorabilia for decades.” “By partnering with Candy Digital to sell NFTs to MLB fans, we’re adding an intriguing new dimension to the already thriving baseball collector industry. Candy’s founders are a vibrant collection of business leaders with a proven track record. We’re thrilled to be the first partner in this new business, and we have a team that is well positioned to succeed.”

Candy’s first collectible will be an NFT of Lou Gehrig’s final speech from July 4, 1939, which will be published on July 4. In the future, Candy will be the central location for acquiring, trading, and sharing all legally sanctioned baseball NFTs.

Continue Reading

NFT

Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

Published

on

A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

Continue Reading

NFT

Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

Published

on

The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

Continue Reading

Projects

The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.

Published

on

The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

Continue Reading

Trending

bitcoin
Bitcoin (BTC) $ 17,017.48 0.32%
ethereum
Ethereum (ETH) $ 1,287.47 0.76%
tether
Tether (USDT) $ 1.00 0.06%
chiliz
Chiliz (CHZ) $ 0.171912 5.92%
enjincoin
Enjin Coin (ENJ) $ 0.311953 0.80%
decentraland
Decentraland (MANA) $ 0.423420 4.04%
flow
Flow (FLOW) $ 1.11 0.57%
the-sandbox
The Sandbox (SAND) $ 0.605469 3.10%
wax
WAX (WAXP) $ 0.061927 0.45%
ecomi
ECOMI (OMI) $ 0.000945 0.95%