Linear Finance(LINA)

According to the regulatory body, the latest shutdown of the Signature Bank is not related to its cryptocurrency dealings. NYDFS Denies Crypto Connection On March 14, the regulator responsible for the Signature Bank’s closure, i.e., the New York State Department of Financial Services (NYDFS), announced that the decision was not influenced by the bank’s ties with the cryptocurrency industry. The bank was known to work extensively with multiple crypto firms, with about 30% of its deposits estimated to originate from crypto. However, a spokesperson from the regulatory department categorically denied any crypto-related reasons behind the closure of this financial institution. A statement claims, “The decisions made over the weekend had nothing to do with crypto…The decision to take possession of the bank and hand it over to the FDIC was based on the current status of the bank and its ability to do business in a safe and sound manner on Monday.” Anti-Crypto Message? There have been inclinations in the market to point fingers at the bank’s crypto associations, especially after Signature board member and former United States representative Barney Frank suggested that the bank’s closure was crypto-related. In fact, he even claimed that the bank was closed by the authorities in order to “send a strong anti-crypto message.” The NYDFS’s denial would defeat the purpose of the “anti-crypto message,” if there was any. However, it can not be denied that the closure of the bank will force several firms, including many crypto firms, to find a new banking services provider. For example, Coinbase was one of the major crypto clients of the bank. The Treasury’s Plan The bank was initially shut down by the NYDFS on March 13, with the Federal Deposit Insurance Corporation (FDIC) taking control over all deposits in order to ensure customers receive insured deposits back. Furthermore, the Treasury Department revealed that the Biden administration would devise an emergency plan to return all customer funds, not just insured ones. The government also plans to apply this same plan to the customers of the Silicon Valley Bank, which was also shut down recently. The shutdown of the Signature Bank is the latest in a series of banks closing down recently. The Silicon Valley Bank, which is also known as the go-to bank for startups, had to close shop on March 10. Prior to that, the Silvergate Bank had to announce its closure on March 8 after months of struggling in the aftermath of the FTX debacle. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Mike Winkelmann, also known as Beeple, has opened the 50,000-square-foot Beeple Studios in Charleston, South Carolina, to showcase his art and to build a community of fellow creators.

The Central Bank of Iran progresses with CBDC development in anticipation of the Bank of Russia’s governor Elvira Nabiullina’s visit.

The G20 announced that the Financial Stability Board (FSB), the International Monetary Fund (IMF), and Bank for International Settlements (BIS) would soon publish recommendations for establishing a global crypto regulatory framework. The group of the 20 biggest economies in the world, collectively known as G20, announced in a document summarizing the outcomes of meetings held with finance ministers and central bank governors that the FSB, IMF, and BIS are to deliver papers and recommendations establishing standards for a global crypto regulatory framework. The FSB will offer guidance on regulating, supervising, and overseeing global stablecoins and crypto asset activities. The FSB will be the first to release documents, expected in July. In September, the FSB and IMF will jointly submit “a synthesis paper integrating the macroeconomic and regulatory perspectives of crypto assets.” The IMF will also independently report on the “potential macro-financial implications of the widespread adoption” of CBDCs. The G20 statement said: We look forward to the IMF-FSB Synthesis Paper, which will support a coordinated and comprehensive policy approach to crypto-assets, by considering macroeconomic and regulatory perspectives, including the full range of risks posed by crypto assets. Finally, the BIS will provide a report on analytical and conceptual issues and possible risk mitigation strategies related to crypto assets. According to reports, a G20 financial task force will also examine the use of crypto to fund terrorist activities. IMF: Banning Crypto Should Not Be Dismissed In a recent interview with Bloomberg, the IMF managing director, Kristalina Georgieva, said banning cryptocurrencies should not be dismissed should they pose a greater risk to financial stability. We are very much in favor of regulating the world of digital money, said Georgieva. She added that regulating the crypto sectors is a top priority for the FSB, IMF, and the BIS. She, however, said: “if the regulation is slow to come and crypto assets become a higher risk for consumers and potentially for financial stability,” banning crypto “should not be taken off the table.” The IMF chief added that if greater predictability and consumer protection are in place, such measures will not be needed, “but we are not yet in this world.” Georgieva: Cryptocurrencies Are “Not Money” Georgieva added, “there’s still a lot of confusion” about digital money, and the Fund’s “first objective is to differentiate between central bank digital currencies that are backed by the state and publicly-issued crypto assets andstablecoins.” She reasoned that state-backed stablecoins have “reliability” and “reasonably good space for the economy.” Non-backed crypto assets, she said, “are speculative, high-risk investment, and not money.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

On the sidelines of the G20 meeting in India, IMF managing director Kristalina Georgieva said the agency would prefer to regulate crypto than an outright ban.

What is an The Picaroons? The Picaroons are a non-fungible tokens collection built on the Ethereum network launched in 13 April, 2022. 10,000 items of the The Picaroons collection can now be viewed at OpenSea. How many owners does the The Picaroons collection have? The total number of owners has reached 2873 within 315 days since its release. NFT Collection The Picaroons Price and Sales The market capitalization of The Picaroons NFT collection is 132.71 ETH. Since created the The Picaroons, 14,358 collections sales were made at an average price of 0.14 ETH (~$226.92 at the time of writing). This created a total volume in 2,010.326 ETH. The floor price of The Picaroons is 0.0119 and the 30-day trading volume is kept at 0.85 ETH. The payment tokens of the The Picaroons collection are ETH, WETH. Why are some NFTs expensive and others not? NFTs are very new to the blockchain ecosystem and are still in their infancy. It is an emerging market meaning there is no historical data or precedence that can assist in determining the value of an NFT. NFT projects that started at the beginning of the market boom have garnered legitimacy purely because they had a first-mover advantage. These “established” NFT projects have also had the opportunity to improve and learn from the issues that have plagued the NFT market and have, in such a way, made themselves more valuable. When the NFT boom took flight, many people realized profits beyond their wildest dreams, creating a space for opportunists to take advantage of the market growth. While some NFTs can be considered digital art, created by an artist who recognizes the value NFTs can add to the creative space, others have been made purely out of greed and a need to exploit the immense market growth. NFT projects that stem from greed and exploitation often have no value and are ultimately garbage. Is the The Picaroons Collection Over or Underpriced? It is difficult to determine whether NFTs from the The Picaroons collection is overpriced or underpriced. Making such an assessment will become clearer when the market for NFTs and metaverses develops more actively. The price is also influenced by how the The Picaroons collection is developed and promoted by its creators and community. The Picaroons NFT Collection Examples Blomar de Santa Catalina Cofresi de St.Malo Tookerman of Cayagua Halsey del Margarita The Picaroons fees Buyer fee to dev: 0 basis points Seller fee to dev: 600 basis points Buyer fee to opensea.io: 0 basis points Seller fee to opensea.io: 250 basis points Buyer fee: 0 basis points Seller fee: 850 basis points The Picaroons editors list The approved editor's accounts of The Picaroons collection are 0x5e5dbd175b035873693955f1f55c0b4ef7358a0a. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

What is an CryptoCrystal? CryptoCrystal are a non-fungible tokens collection built on the Ethereum network launched in 16 May, 2018. 9,994 items of the CryptoCrystal collection can now be viewed at OpenSea. How many owners does the CryptoCrystal collection have? The total number of owners has reached 1976 within 1743 days since its release. NFT Collection CryptoCrystal Price and Sales The market capitalization of CryptoCrystal NFT collection is 716.71 ETH. Since created the CryptoCrystal, 7,666 collections sales were made at an average price of 0.23 ETH (~$376.73 at the time of writing). This created a total volume in 1,781.950 ETH. The floor price of CryptoCrystal is 0.034 and the 30-day trading volume is kept at 1.85 ETH. The payment tokens of the CryptoCrystal collection are ETH, DAI, WETH, USDC. Why are some NFTs expensive and others not? NFTs are very new to the blockchain ecosystem and are still in their infancy. It is an emerging market meaning there is no historical data or precedence that can assist in determining the value of an NFT. NFT projects that started at the beginning of the market boom have garnered legitimacy purely because they had a first-mover advantage. These “established” NFT projects have also had the opportunity to improve and learn from the issues that have plagued the NFT market and have, in such a way, made themselves more valuable. When the NFT boom took flight, many people realized profits beyond their wildest dreams, creating a space for opportunists to take advantage of the market growth. While some NFTs can be considered digital art, created by an artist who recognizes the value NFTs can add to the creative space, others have been made purely out of greed and a need to exploit the immense market growth. NFT projects that stem from greed and exploitation often have no value and are ultimately garbage. Is the CryptoCrystal Collection Over or Underpriced? It is difficult to determine whether NFTs from the CryptoCrystal collection is overpriced or underpriced. Making such an assessment will become clearer when the market for NFTs and metaverses develops more actively. The price is also influenced by how the CryptoCrystal collection is developed and promoted by its creators and community. CryptoCrystal NFT Collection Examples Norma Nipher Fannie Rush Angelina Greenaway Wesley Ramsay CryptoCrystal fees Buyer fee to dev: 0 basis points Seller fee to dev: 250 basis points Buyer fee to opensea.io: 0 basis points Seller fee to opensea.io: 250 basis points Buyer fee: 0 basis points Seller fee: 500 basis points CryptoCrystal editors list The approved editor's accounts of CryptoCrystal collection are 0x2891b78092310ce8219fe8298bb0fe7afa69f43f, 0xb144878128e9d6cd3d1a9d024e7b46b5c6b1c243. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

A recent report from Global Times China, a state-directed media outfit, reveals that a number of Chinese cities participated in a campaign to promote the country's Central Bank Digital Currency, the e-CNY. About $26.6 million worth of e-CNY was distributed across the country, with Jinan in East China's Shandong Province and Lianyungang in East China's Jiangsu Province issuing digital yuan as the holiday season for the Spring Festival commenced. According to the Global Times, certain local governments such as those from Shenzhen in South China's Guangdong Province resorted to providing subsidies for local businesses, with the intent of boosting recovery for the catering services industry. Some 100 million e-CNY worth about $14.7 million was reportedly doled out for this sector. These efforts were joined in by the country's private commercial sector, with businesses across diverse sectors such as consumer tech, communications, transportation, and tourism all doing their fair share of work to promote the CBDC. These initiatives can be seen as part of a nationwide effort to promote the CBDC as a more convenient payment method, providing options and financial mobility for its citizens. As early as 2021, China has been progressing with the introduction and implementation of its CBDC initiative, for which Android and iOS builds have been made available by the PBOC (People’s Bank of China) for mass use. Roughly two years after its initial launch, e-CNY transactions have crossed the 100 billion yuan ($14 billion, in USD) threshold, with the digital currency proving to be a staple among users with an inclination for ease of use. China has gained notoriety among policy shapers for crypto and digital assets, with its total ban of crypto trading and decentralized platforms within its jurisdiction. It remains to be seen, however, whether this momentum for the CBDC will gain better traction over time. A seamless and intuitive user experience for the native e-CNY app should be thoroughly studied and implemented across to board, if only to attract more users and gain the scale of adoption towards which the Chinese government envisions to achieve. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Resident Lugiewicz said the crypto miner could be as loud as the Niagara Falls.

Decentralized finance meets its traditional counterpart at Davos, with a growing cross-pollination between the two.

Cryptocurrency lender Nexo Capital has agreed to a fine of $45 million to settle charges brought against it by the United States Securities and Exchange Commission (SEC) and state regulators over its failure to register its crypto asset lending product. On Thursday, the SEC announced that it charged Nexo with failing to register its retail crypto asset lending product called Earn Interest Product (EIP). In order to settle the charges brought against it, Nexo agreed to a pay penalty totaling $45 million. Nexo has agreed to pay $22.5 million to the SEC, and a further $22.5 million in fines to state regulators. In September 2022, Nexo came under regulatory fire for its EIP by eight states in the U.S.. including California, Kentucky, New York, Maryland, Oklahoma, South Carolina, Washington andVermont. State regulators alleged that Nexo offered its product without them being registered as securities and without disclosing them properly to customers. The SEC alleges that Nexo began offering its EIP in June 2020 which allowed U.S. investors to hand their crypto assets over to the company in exchange for a promise of interest. Nexo ceased offering its product to new investors after the SEC brought similar charges against another company in February 2022. The SEC issued a press release which states: According to the SEC’s order, in or around June 2020, Nexo began to offer and sell the EIP in the United States. The EIP allowed U.S. investors to tender their crypto assets to Nexo in exchange for Nexo’s promise to pay interest. The order states that Nexo marketed the EIP as a means for investors to earn interest on their crypto assets, and Nexo exercised its discretion to use investors’ crypto assets in various ways to generate income for its own business and to fund interest payments to EIP investors. The order finds that the EIP is a security and that the offer and sale of the EIP did not qualify for an exemption from SEC registration. Therefore, Nexo was required to register its offer and sale of the EIP, which it failed to do. Nexo Finds Itself the Subject of Investigations Despite the charges brought against the lender by the SEC and state regulators, Nexo is also the subject of a large-scale investigation in Bulgaria relating to allegations of money laundering, computer fraud, tax offenses and various other crimes. The company’s offices in Bulgaria were raided by over 300 police officers. Nexo further filed suit against the Cayman Islands Monetary Authority (CIMA) for rejecting its application to become a virtual asset service provider (VASP) in the country. Nexo’sdecision to sue CIMA comes after the regulator denied it registration as a VASP due to the regulatory issues and enforcement that currently surround the lender. CIMA argues that “Nexo posed a risk to market confidence, consumer protection and the reputation of the Islands as a financial centre.” Nexo seeks that CIMA’s decision be overturned and for the lender to be awarded a VASP registration. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Cryptocurrency lender Nexo Capital has agreed to a fine of $45 million to settle charges brought against it by the United States Securities and Exchange Commission (SEC) and state regulators over its failure to register its crypto asset lending product. On Thursday, the SEC announced that it charged Nexo with failing to register its retail crypto asset lending product called Earn Interest Product (EIP). In order to settle the charges brought against it, Nexo agreed to a pay penalty totaling $45 million. Nexo has agreed to pay $22.5 million to the SEC, and a further $22.5 million in fines to state regulators. In September 2022, Nexo came under regulatory fire for its EIP by eight states in the U.S., including California, Kentucky, New York, Maryland, Oklahoma, South Carolina, Washington, and Vermont. State regulators alleged that Nexo offered its product without them being registered as securities and without disclosing them properly to customers. The SEC alleges that Nexo began offering its EIP in June 2020 which allowed U.S. investors to hand their crypto assets over to the company in exchange for a promise of interest. Nexo ceased offering its product to new investors after the SEC brought similar charges against another company in February 2022. The SEC issued a press release that states: According to the SEC’s order, in or around June 2020, Nexo began to offer and sell the EIP in the United States. The EIP allowed U.S. investors to tender their crypto assets to Nexo in exchange for Nexo’s promise to pay interest. The order states that Nexo marketed the EIP as a means for investors to earn interest on their crypto assets, and Nexo exercised its discretion to use investors’ crypto assets in various ways to generate income for its own business and to fund interest payments to EIP investors. The order finds that the EIP is a security and that the offer and sale of the EIP did not qualify for an exemption from SEC registration. Therefore, Nexo was required to register its offer and sale of the EIP, which it failed to do. Nexo Finds Itself the Subject of Investigations Despite the charges brought against the lender by the SEC and state regulators, Nexo is also the subject of a large-scale investigation in Bulgaria relating to allegations of money laundering, computer fraud, tax offenses, and various other crimes. The company’s offices in Bulgaria were raided by over 300 police officers. Nexo further filed suit against the Cayman Islands Monetary Authority (CIMA) for rejecting its application to become a virtual asset service provider (VASP) in the country. Nexo’s decision to sue CIMA comes after the regulator denied its registration as a VASP due to the regulatory issues and enforcement that currently surround the lender. CIMA argues that “Nexo posed a risk to market confidence, consumer protection, and the reputation of the Islands as a financial centre.” Nexo seeks that CIMA’s decision is overturned and for the lender be awarded a VASP registration. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The crypto market is set to come under increased scrutiny from the U.S. House of Representatives, with the formation of a new subcommittee. A new subcommittee According to a report by Politico, North Carolina Representative Patrick McHenry, chair of the House Financial Services Committee, plans to create the subcommittee to fill a "big hole" in the committee's current structure. The new panel, led by French Hill of Arkansas and Warren Davidson of Ohio, will discuss issues related to digital assets, financial technology, and financial inclusion. McHenry, who has placed crypto regulation at the top of his legislative agenda, stated that the group will be responsible for crafting policies that support financial technology to reach underserved communities and providing clear norms among federal regulators. The subcommittee will hold hearings and play a key role in bill development. Crypto dominates the financial agenda The establishment of the digital asset group shows how cryptocurrency has come to dominate the financial regulatory agenda in Congress. In the past, the Financial Services Committee was primarily concerned with the oversight of banks, Wall Street corporations, and their regulators. However, in recent years, the digital asset industry has grown as a lobbying force, with companies attempting to improve the regulatory environment and gain important allies from both parties. New FTX hearing in 2023 After a steep drop in recent months and the collapse of the once-dominant FTX, which spurred fraud charges against the exchange's top executives, crypto businesses are now playing defence. The House Financial Services Committee is set to hold another hearing under McHenry to investigate the collapse of bitcoin exchange FTX, with McHenry stating that lawmakers will further discuss the bankrupt crypto business in 2023. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The United States Department of Justice (DOJ) is reportedly begun an investigation into the founders of Saber Labs, Ian, and Dylan Macalinao, CoinDesk reports citing persons familiar with the matter. The probe surrounds how the brothers used various pseudonym identities to create or rather orchestrate inaccurate crypto gain metrics. The investigation follows a report from August 2022, in which CoinDesk reported that the brothers used a web of 11 pseudonymous identities to create an “ecosystem of interlocking financial products that double-and triple-counted deposits by passing tokens between themselves.” The report details that their enterprise boosted a key growth metric for Solana by billions during the height of the 2021 bull market. Ian Macalinao also indicated that this inflated the price of SOL – the native token of the Solana ecosystem. In a never-published blog, Ian wrote: The metric to optimize for in Summer 2021 was [total value locked (TVL)]. Continuing, “TVL can only count if protocols are built separately, so I devised a scheme to maximize Solana’s TVL: I would build protocols that stack on top of each other, such that a dollar could be counted several times.” DOJ also Probing Cashio and Sunny Aggregator One of the people familiar with the matter, investigators are also looking for information on the web of cryptocurrency projects that orbited Saber, including DeFi yield-farming app Sunny Aggregator and Cashio. Cashio is a stablecoin project that famously lost million during a hack in March 2022. The reports indicate that Ian Macalinao wrote the code for both of these projects using pseudonym identities. Ian described how the brothers managed to create the ecosystem: If an ecosystem is all built by a few people, it does not look as authentic. Adding, “I wanted to make it look like a lot of people were building on our protocol rather than ship 20+ disjoint [sic] programs as one person.” While the DOJ begins its investigation into Saber and the Macalinao brothers, Saber is still operational and over the past 24 hours handled $4.34 million in trading volume according to its website. Ian continues to work to maintain the project infrastructure, but Saber’s Discord server, a space where users can ask questions and obtain updates regarding the project, remains largely abandoned following the publication of CoinDesk’s original report. The same does however not ring true for the Discord servers of Sunny and Cashio, whose tokens have all but become worthless, and are full of messages from furious customers and investors demanding to know where the project developers have gone. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The federal investigation follows a CoinDesk exposé that showed Ian and Dylan Macalinao used a web of 11 pseudonymous identities to build an ecosystem of interlocking financial products around Saber.

Suppose the Art Basel exhibition floor and the Venice Biennale had anything in common in 2022, apart from hosting mesmerizing works of inspiring art. In that case, it’s the presence of a new form of expressive medium that is making an even bigger impact as a bridge between mind and matter. The Non-Fungible Token (NFT) phenomenon is coming back stronger than ever, despite the recession on the overall market of decentralized digital assets. It seems art lovers speak the same language, as appreciation for expression has taken over the mercantile aspect of digitization, allowing visionary projects to make their statements at both world-leading art events. The Venice Biennale of 2022, which took place from May to November, hosted “Seven of Swords” by Justin Aversano, displayed at the Decentral Art Pavilion — dedicated entirely to digital artworks. The work, part of the “Smoke and Mirrors” collection, consists of 78 photographs of visionary individuals from the mystical, astrological, tarot, and other metaphysical planes of thought. Designed as unique tarot cards themselves in NFT format, the portrait artworks highlight an otherworldly presence, making the viewer believe in the existence of magic, hauntingly conveyed through the characters’ zealous adherence to their powers. “Metamorphoses” by Concept2048 is another project with NFT inclinations that made its loud statement at the Venice Biennale’s contemporary art exhibition Personal Structures. Created by a duo of digital artists – Ekaterina Perekopskaya and Rostyslav Brenych — the works, set to be released as NFTs on January 24, 2023, represent various facets of art, stemming from concept and foresight. Indeed, considering that both artists involved in Concept2048 specialize in art fashion and conceptual production, their works leave more questions than answers in the mind of the viewer, tantalizing them with the quintessential one — is there such a thing as a final answer at all? The subtle games of light and shades of vibrant colors are the focal points in the collection, focusing the viewer’s attention on the contrasts at play and the underlying concept of Universal light, one that dims in our world as it passes through challenges and development phases. The open-ended nature of their creative works sheds light on global issues, like sustainable development, urging and inspiring the viewer to act and take a stance. The “Metamorphoses” collection made an equally resounding impact at the Venice Biennale, effectively blurring the line between concept and finality. Understandable, considering that it already wields the admiration of a 100,000 community, has experienced full sell-outs at presales, and a 350% price increase since launch. Those wishing to take advantage of early bird opportunities, may join the whitelist available on the project’s website. “Social Sacrifice” by Studio Drift at Ocean Space is an excellent example of NFT’s merger with the physical. As a representative of the phygital medium, Drift set in motion remote-controlled drones, creating a staggering display of art through light and movement. Each of the 100+ live indoor performances was preserved in NFT format for further sale on the Aorist platform. The Artificial Intelligence involved in modeling the movements of a school of fish represented by the drones was accompanied in its graceful dynamic displays by the visceral orchestral audio design by artist and musician Don Diablo. Such performances that imprint unforgettable live events as digital memorabilia continue to elevate the status of NFTs as true works of art and cement their perception as worthy additions to the many forms of human expression, and as feasts for the senses. Another event blending the digital and the physical rocked the Art Basel venue as World of Women made its statement for a thriving community living the dream making inclusivity one of the founding pillars of Web3 space. The WoW collection by Yam Karkai is all about dissecting the stories of empowered and diverse women who were able to leave their mark on the world. The passion that Yam displayed with her vision gave WoW the necessary impetus to become one of the leading NFT brands in the world. The 10,000 unique pieces of mesmerizing art in the collection, released on July 27th, 2021, sport randomly-generated digital collectibles hosted on the Ethereum blockchain. With their vivid colors, haunting gazes, and outright tribal art styles, the images inspire awe and admiration for the spirit of women who drive the world around them. The World of Women gala at the Art Basel event included a ceremony awarding attendees for digital fashion design, made all the more exciting by music from electronic duo Sofi Tukker. The importance of the collection resides in the fact that it recognizes women’s digital identity through fashion and design, allowing them to leave a tangible footprint in Web3 space. Clothing brands taking on the NFT medium is not a new phenomenon, but one taken on a new spin around the digital block by ITERATION-02 – a collaboration between 9dcc and Snowfro. Art Blocks founder and creator of the Chromie Squiggle injects a new spin on wearables. The ITERATION-02 collection takes the process of releasing on-chain generative art to the next level by seamlessly converting each creation into an article of generative clothing. The lineup is ideal for admirers of luxury and digital artworks alike, as the iconic Chromie Squiggle is remixed with the visuals of 9dcc in NFT format, giving each holder a unique T-shirt proudly bearing the resulting digital image. The ability to actually wear unique art forms may not be a new concept in NFT space, but ITERATION-02 certainly shifts it from the inaccessible to the mass market segment, giving a vastly broader audience of NFT admirers to dive headlong into the process of creating digital artworks. From figment to art The days of badly-rendered, pixelated NFTs are long gone, as artists are becoming more sophisticated and bolder in how they approach the new medium of art and expression. While collections like Metamorphoses highlight the versatility of NFTs in conceptual medium, others like Drift push the envelope of art’s perception as a static phenomenon and transcend the boundaries of visual and audio performance. It is precisely the audacity of such artists who challenge the established frameworks of creative concepts that elevates digital art’s standing and status at events like the Venice Biennale and Art Basel. It will take more time, of course, before NFTs become fully mainstream and the stigma surrounding them blurs, but the foundation has been laid. If the pace of adoption persists and the artists continue to unleash their creativity, another bull run for NFT art is well in the making. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The total value locked on the Solana network reached billions of dollars, based in part on sham protocols by two brothers working under multiple aliases. For showing how divorced TVL can be from the truth, Ian and Dylan Macalinao share a spot on CoinDesk’s Most Influential 2022.

The plan is initially available to customers hosted in Texas, South Carolina, Nebraska and Oklahoma.