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Ledger Introduces a Crypto Debit Card and Announces Partnerships with FTX, Coinbase, and Rarible

Ledger, a hardware wallet maker, made a series of announcements today in Paris at its first — and now bi-annual — conference, Ledger Op3n.

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#nft #ledger #crypto #debitcard #nfthours

The unveiling of its new crypto debit card was a highlight, with Ledger VP of payments Iqbal Gandham stating, “We need to start focusing on spending.” According to the presentation, it’s a Visa card issued by Baanx, a Contis Financial Services affiliate.

The Crypto Life card, which supports a variety of cryptocurrencies and can be tracked using Ledger Live, the software companion to Ledger’s hardware wallets, is called the Crypto Life card. A waitlist has been established for Ledger ahead of its launch.

The card will convert to crypto at the point of sale, or cardholders can request a 30-day interest-free credit line based on the bitcoin they own, according to Gandham. Early next year, a cardholder will be able to have their salary paid to their account and automatically converted into cryptocurrency, according to him.

Sending NFTs in a secure manner

Ledger aims to make sending NFTs between wallets safer.

When consumers complete an NFT transaction, Charles Hamel, VP of product at Ledger, explained onstage that they would either blind sign it (meaning they won’t know what data they agree to disclose) or view a massive “blob of data” that is worthless to most people. This differs from a regular crypto transaction, in which customers can usually see where their funds are going when they confirm the transaction.

The alternative, according to Ledger, is to break out the transaction and show what’s going on via its mobile app at the time of signing. In a demo, Hamel demonstrated how the app gave transaction details, such as the destination address and the token sent.

Furthermore, Ledger has incorporated Rarible into Ledger Live, allowing Ledger owners to buy and sell NFTs while still using the hardware wallet to complete transactions.

Coinbase Wallet will support Ledger

Coinbase’s non-custodial wallet, Coinbase Wallet, will feature Ledger as its first hardware wallet, separate from the main exchange’s wallet service.

Users will communicate with blockchain applications through their web browser while maintaining access to their hardware wallet.

In a pre-recorded video, Max Branzburg, VP of product at Coinbase, said that the exchange is working on adding support for hardware wallets directly into its non-custodial wallet. He stated that this would begin with the wallet’s internet version rather than the mobile app.

Ledger Live integration with FTX

Ledger Live’s in-house trading options have also been enhanced with the addition of FTX to the lineup.

This is a simple non-custodial swap function in the initial version. This is where Ledger owners can agree to swap their crypto, and the funds are withdrawn directly from their wallet and replaced with new coins.

Although this will be a custodial service, the second iteration will feature full exchange capabilities, including derivatives. Ledger owners would have to submit their crypto to the exchange to make deals.

There is a small snag. Because Ledger charges a small fee for trades done through this service, trades will be more expensive.

On the platform, this isn’t the only way to exchange cryptocurrency. In June, the app added its first decentralized finance (DeFi) platform, ParaSwap, allowing users to swap tokens across numerous decentralized exchanges such as Uniswap, Curve, Balancer, and Sushiswap, among others.

Introducing the Nano S Plus

The S Plus, Ledger’s sixth announcement, is an improvement to the popular Ledger Nano S model. One significant distinction is that it is developer-friendly, allowing developers to test directly on the device rather than via an emulator. Another distinction is that it has a greater memory capacity.

“Memory is crucial because you need more capacity as we add all these new use-cases to Ledger Live,” said Ian Rogers, Ledger’s chief experience officer.

He also stated that the company is working on another hardware project, which he believes will be released in 2022 or 2023.

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.

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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.

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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.

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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.

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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.

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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.

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