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Crypto NFT Today: The Latest News in Blockchain, Cryptocurrency, and NFTs: Aug. 17-23, 2022

Welcome to another edition of Crypto NFT Today! If you enjoy cryptocurrency, NFTs, and riding emotional rollercoasters, this is the place to be.

Are you ready for the crunch? Let’s get started.

Unstoppable Domains Releases iPhone App 

Unstoppable Domains is on a mission to make blockchain-based applications more accessible to users. The crypto domain provider announced Tuesday it is rolling out an iPhone app to bring Web3 to users’ fingertips. 

Using the app, iPhone owners will be able to connect their profiles to crypto wallets and log into more than 180 decentralized applications, metaverses, and games. 

The rollout is part of a larger strategy to streamline the use of unique identities and domains, making blockchain-based applications accessible and transferable across a handful of protocols.

Over the last few months, Unstoppable Domains has partnered with Blue Studios to release a family crypto wallet, and hired two former IBM and Twitch executives. In July, it raised $65 million in Series A funding led by Pantera capital.

Soccer Superstar James Rodríguez to Release NFT Collection 

The current Al-Rayyan SC and former Real Madrid and Everton star is following other legends of the game including Cristiano Ronaldo in releasing a commemorative NFT collection.

 ZKSpace, a zk-Rollup-based Ethereum layer-2 (L2) protocol, is set to roll out the public sale of the James Rodríguez Zurda NFT collection on Aug. 15. 

Zurda — meaning “left foot” in Spanish — is an official collection of commemorative NFTs created in collaboration with Rodríguez to be issued on ZKSea, the NFT minting and trading platform of the ZKSpace ecosystem.

The “Zurda” NFT series is the first digital asset collection that assembles all key highlights from Rodríguez’s career spanning three continents and many top European clubs. 

The Fed is Opening Access, Protection for Crypto Firms

Crypto regulation seems to be inevitable, reflected by the Federal Reserve’s decision to take a major step toward codifying the digital currency. 

The Fed said Monday it is publishing its final guidance for novel financial institutions to access its “master accounts,” something these firms need to participate in the global payment system.

The central bank will create a three-tiered system for evaluating whether a financial institution should have access.

Under the new regulations, tier 1 banks would be federally insured. Tier 2 banks would not be federally insured but are still “subject to prudential supervision by a federal banking agency,” according to a statement by Fed Vice Chair Lael Brainard. 

The third tier consists of firms that are “not federally insured and not subject to prudential supervision by a federal banking agency,” according to CoinDesk. 

European Crypto Exchange to Launch Its Own Token

WhiteBIT, one of the biggest cryptocurrency exchanges in Europe, recently shared plans to launch its own digital asset, WhiteBIT Token (WBT). The token will provide the users with unique opportunities like fee reduction and holding benefits.  

The announcement follows a series of breaking news from the firm. A month ago, the platform completed its functionality with perpetual futures trading, becoming one of the few crypto exchanges in the world that offer such a possibility.

The new token will have a limited supply, have a weekly burning mechanism, and will presuppose organic interactions with other projects of the ecosystem, WhiteBIT relayed in a statement. 

The asset will be issued in the amount of 400 million WBT, with 200 million as treasury tokens. This amount will be distributed to corresponding funds inside the ecosystem to protect the asset from inflation. Treasury tokens will be gradually unlocked within the following three years. Half of the issued tokens will be frozen and brought to the market according to the pre-designed schedule. 

Advantages for WBT holders and owners will include a 40-50% increase in the referral rate, reduced fees, free ERC-20-protocol token withdrawals, and free anti-money laundering checks.

Kevin Oleary and Raoul Pal – The BIG Turning Point For Crypto

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By I&T Today

Innovation & Tech Today features a wide variety of writers on tech, science, business, sustainability, and culture. Have an idea? Send it to submit@innotechtoday.com

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