Tag: crypto

NFT

Mobile network provider in Hong Kong introduces its own NFT marketplace

China Mobile Hong Kong is launching LinkNFT, a groundbreaking NFT marketplace, becoming the first telecom company in Hong Kong to do so. LinkNFT will offer NFT minting services and utilize cross-chain standards for seamless web3 interoperability. The marketplace will feature over 500,000 NFTs and integrate with the digital wallet “LinKey” within MyLink. Additionally, MyLink’s Metaverse digital space has been upgraded to provide users with a comprehensive 3D immersive experience.

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Crypto

Settlement Between Binance and CFTC Approved by US Court

The U.S. District Court for Northern Illinois has approved a settlement in the Binance case, with former CEO Changpeng Zhao fined $150 million and Binance facing a $2.7 billion penalty for violating the Commodity Exchange Act and CFTC regulations. This resolves a legal dispute involving allegations of evading federal law and operating an illegal derivatives exchange.

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News

Adoption of ERC-3643 by the Ethereum Community: A Standard for Compliant Asset Tokenization

The Ethereum Improvement Proposal ERC-3643 has been officially endorsed by the Ethereum community, establishing a standard for compliant tokenization of real-world assets. This comprehensive proposal incorporates a self-sovereign identity framework and two permission layers to enhance security and compliance. Asset tokenization offers benefits such as increased liquidity and faster settlements, with a projected market value of $10 trillion by 2030.

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The Rise of Web3: Transforming Consumer Loyalty Programs

Consumer retail spending remains strong, with online Black Friday sales hitting $10 billion, amid inflation. The rise of web3 technology is reshaping loyalty programs, with brands utilizing blockchain to offer NFT-based rewards. This enables customers to own, transfer, and even sell their loyalty rewards, fostering deeper engagement and driving brand profitability in 2024.

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News

The share of decentralized finance (DeFi) in the cryptocurrency market witnessed an 18% increase in November

In November, DeFi’s market share grew by 18%, reaching 4.44%, driven by projects like THORChain and Uniswap. Total value locked in DeFi protocols rose by 14%, expected to surpass $50 billion. Ethereum dominates with over 56% TVL share. Liquid staking hit $27 billion, largely from Lido Finance. The cryptocurrency market cap jumped from $1.28 trillion to over $1.6 trillion in December.

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