Category: Bitcoin

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment Cryptocurrency news Investment News NFT Investment

Fidelity Launches Multi-Level Learning Center in Metaverse

Fidelity Investments, a leading financial services company with $11.3 trillion in assets under management, entered the metaverse with the opening of an eight-story learning center and the launch of a metaverse exchange-traded fund (ETF). Fidelity Stack features “a multi-level layout complete with a lobby, dance floor, and rooftop garden for users to explore on foot, or even by teleportation.”

Fidelity enters the metaverse

Fidelity Investments on Thursday announced the grand opening of “The Fidelity Stack,” which the exchange described as its “first immersive metaverse experience designed to offer a new way to learn the basics of investing.” Fidelity is one of the largest financial services companies; it currently has $11.3 trillion in assets under management.

Fidelity Stack is an eight-story building in the metaverse where visitors can learn about different ways to invest. An entire floor is dedicated to providing information on the Fidelity Metaverse ETF (FMET), the company’s new exchange-traded fund focused on metaverse investments. Fidelity explained:

Built in Decentraland, the Fidelity Stack features a multi-level layout complete with a lobby, dance floor, and rooftop garden for users to explore on foot, or even by teleportation.

“In Invest Quest on The Fidelity Stack, users are challenged to walk the building learning the basics of ETF investing while collecting ‘orbs’ along the way,” the ad continues.

Decentraland is an Ethereum-based metaverse open to the public in January 2020. In February, global investment bank JPMorgan chose Decentraland as the metaverse platform to open its lounge.

Kathryn Condon, director of marketing channels and emerging platforms at Fidelity, commented:

The way we relate to each other and our money is changing rapidly, whether it is due to the rise of blockchain technology or the development of a new digital universe. Our foray into the metaverse was designed with that in mind.

Last month, Citi predicted that the metaverse could be a $13 trillion opportunity with five billion users by 2030. Global investment banks Goldman Sachs and Morgan Stanley believe the metaverse is a $100,000.8 trillion opportunity.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining Investment News NFT Investment

Fidelity Investments expands its offerings by focusing on the metaverse and ETFs

The international investment firm Fidelity Investments has decided to invest in companies from the metaverse. Fidelity Investments has now launched four new exchange-traded funds (ETFs) that would focus on two new products to take advantage of the nascent Web3 space.

ETFs will focus on three broad criteria, namely cryptocurrencies, metaverse and environment, society and governance (ESG).

The Fidelity Metaverse ETF (Ticker FMET) and the Fidelity Crypto Industry and Digital Payments (FDIG) ETF went live on Thursday, April 21.

The Fidelity Crypto Industry and Digital Payments ETF does not provide direct access to cryptocurrencies, but will invest in the companies that support the digital asset industry.

Fidelity Investments will be responsible for building and contributing to the “future state of the Internet”.

Competition in the already crowded metaverse?

Fidelity is entering an already saturated market, where a dozen ETFs are already trading on the market. In addition, there are many companies that have decided to launch “themed” funds for younger generations.

We continue to see demand, particularly from young investors, to access fast-growing industries in the digital ecosystem, and these two themed ETFs offer investors exposure in a family-friendly investment vehicle, said Greg Friedman, Managing Director and Chief ETF Strategy Officer at Fidelity. .

As mentioned above, younger generations have become increasingly familiar with the metaverse.

Along with that, a lot of awareness of where the metaverse could be headed has led the younger generation to explore further.

BlackRock Inc. is one of those companies that has focused on “themed” funds that cater to the younger population.

Fidelity may face stiff competition when it comes to the themed environment, with many companies already operating in the space. However, the size and scale of the company will likely give it an edge over its immediate competitors.

Bloomberg Senior ETF Analyst Eric Balchunas also mentions in his tweet that the investment firm reportedly entered the market at the lowest rate among the other four ETFs tracking the Metaverse.

Fidelity also recently released a Decentraland-based metaverse called the “Fidelity Stack”. This is intended to educate retail investors on the basics of investing.

Related Reading | How Crypto Company Circle Announces $400 Million Backed by Giants BlackRock and Fidelity

Fidelity also intended to launch a Bitcoin Spot ETF

Fidelity continued to push this revolutionary idea to democratize the investments that are ETFs. However, the Securities and Exchange Commission failed to comply.

The US financial regulator has yet to make a decision on this, which is now making the funds launch in other countries with much less difficulty.

For example, Fidelity has just successfully launched the ETF in Canada.

Australia would also receive two Bitcoin Spot ETFs that have been approved for launch in the country.

The asset manager continues to prepare to launch the Cosmos Purpose Bitcoin Access ETF, which refers to investing in the Canadian Purpose Bitcoin ETF.

Categories
Bitcoin Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment Cryptocurrency news Investment News NFT Investment

Crypto Firm Exmo Leaves Russia and Belarus Selling Part of Its Business

Russia-linked cryptocurrency exchange Exmo will no longer provide services to users in Russia, Belarus, and Kazakhstan.

London-based crypto exchange Exmo is the latest crypto trading platform to formally suspend its business in Russia and Belarus due to the Russian invasion of Ukraine.

Exmo is selling its digital assets business in Russia and Belarus to a Russia-based software development company, Exmo officially announced on April 18. At the time of this writing, the new owner and size of the company have not been disclosed.

“Unfortunately, we can no longer keep the high-risk part of the business, as a global group does not want to put global expansion plans at risk by keeping high-risk markets in its structure,” Exmo CEO Serhii said. Zhdanov. he told Cointelegraph.

The deal includes Exmo’s client accounts in Russia and Belarus, as well as local trust systems, Zhdanov said. The technical code of the platform is not sold and belongs entirely to the Exmo group.

As part of the deal, Exmo’s beneficial owner, Eduard Bark, will also leave the company, transferring his stake to Zhdanov.

In addition to Russia and Belarus, the deal also includes Exmo’s business in Kazakhstan, as the new owner’s team is based in Kazakhstan. The undisclosed buyer owns a Russian software development company and a Kazakhstan-based legal entity for a cryptocurrency exchange, the CEO noted.

“We put a lot of effort into the Russian part of the business, so we can assure you that it is now in good hands. The new owner not only follows the roadmap we created earlier, but will also reach new heights much more easily. We made this decision for the benefit of both parties,” Zhdanov said. The company said it will not penalize ordinary people or block accounts due to the sanctions in mid-March.

As part of Exmo’s exit from Russia and Belarus, Exmo amended its user agreement to state that Russian, Belarusian, and Kazakh residents will no longer be integrated into its platform. The exchange deactivated Russian ruble trading pairs on April 15.

Exmo is a major cryptocurrency exchange founded by Russian entrepreneurs Ivan Petuhovski and Pavel Lerner in 2013. The company’s departure from Russia will have a significant impact on the exchange, as Russia was one of its main markets, Zhdanov admitted, stating:

“A significant part of our business was located in Russia. We will have a revenue reduction of around 30%. However, in the long term, we are confident that this will accelerate our exponential growth and allow the company to become a unicorn in the next three years.”

“We consider going back when Russia is no longer classified as a high-risk country,” Zhdanov said.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Crypto Mining Cryptocurrency Investment Cryptocurrency news Investment News NFT Investment

Crypto Giant Coinbase Makes Interactive Trilogy With NFT Collection Bored Ape Yacht Club

Coinbase, the major US-based cryptocurrency exchange, says it is making a three-part movie series featuring the Bored Ape Yacht Club non-fungible token (NFT) community.

In a new tweet, the cryptocurrency exchange says that members of the NFT-based community can help create the trilogy by submitting their Bored Apes to the cast.

According to Bored Ape Yacht Club, only monkeys will appear in the first part of the film.

“We are happy that Coinbase is making a series of movies with the Bored Ape Yacht Club community. Bored NFT APE holders, send your monkey to pitch. Mutants, don’t worry, this is the first film in a trilogy and you will have your own casting for the second part.”

Coinbase also reveals that owners of successfully launched monkeys will receive thousands of dollars worth of ApeCoin (APE) or Bitcoin (BTC).

“Compensation for the chosen monkey holders, worth $10,000 in ApeCoin or Bitcoin, will be deposited into their Coinbase account.

The license will be registered on the chain and will continue with the monkey in the secondary market. However, the fee will be a one-time payment to the original licensee (the owner who sent the monkey into the film).”

Coinbase says that any profit made from the films would be donated to charity.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment Investment News NFT Investment

NFL’s First Crypto Partnership: Dallas Cowboys Partner with Blockchain.com

The Dallas Cowboys strike the first cryptocurrency deal in NFL history with Blockchain.com, becoming the team’s “exclusive digital asset partner”.

Jerry Jones, owner of the Dallas Cowboys, and Peter Smith, CEO and co-founder of Blockchain.Com, emphasized the implementation of cooperation, which could lead to Blockchain.com being an “exclusive digital asset partner”.

Related Reading | Crypto.com is the official sponsor of the 2022 FIFA World Cup

Blockchain.com will be able to take advantage of promotional and branding opportunities and develop a space at AT&T Stadium with social and digital integration rights and access to radio, television and digital as a result of this commercial agreement.

In his statement, Jones said;

When you get the chance to really dive into the kind of future you have in the digital world, I wanted the Dallas Cowboys to be a part of that future in every way possible.

Blockchain.com is one of the oldest and most trusted digital asset platforms in the world. According to Jones, “they are bringing Wall Street to Main Street, making digital assets available to anyone, anywhere in the world.”

Since its inception in 2011, Blockchain.com has grown to host over 80 million customers in 200 countries with $1.2 trillion in digital transactions.

The Cowboys Are Making Big Business With Blockchain.com

Minutes of the Cowboys collaboration also include Blockchain.com, a digital exchange that would provide exclusive benefits such as fan experience and prizes. In addition, events held by players, video games and VIP trips are some of the rewards of the promotion.

According to Smith, Blockchain.com preferred the Cowboys because of their excellent experience in sports brands.

In a statement, Smith noted;

Having grown up in rural America, where football is deeply rooted in culture, I am incredibly honored to join forces with the world's most valuable sports franchise and the Jones family, who have dedicated their lives to building a world-class franchise.

The Dallas Cowboys are one of the most valuable sports franchises in terms of a $6.5 billion valuation. Additionally, Jones pioneered corporate sponsorships tied to his team, making them an excellent choice for selecting a shipping brand.

Bitcoin Trying to Hold $40,000 Support Level Down 1.72% | Source: Tradingview.com BTC/USD chart

Sports fans are a sensitive audience for digital currency, and cryptocurrency companies are becoming major sports advertisers and sponsors. For example, the Super Bowl garnered 101 million viewers in the United States and included promotions on five cryptocurrency exchanges.

Related Reading | Denver Broncos: These Crypto Fans Are Rushing To Get $4 Billion To Own The NFL Team

The purchase of the naming rights to the former Staples Center in Los Angeles, the King Hockey team, the Lakers and Clippers basketball teams and the Sparks women’s basketball team last year was Crypto.com’s biggest deal. According to Los Angeles Times reports in November, a Singapore-based cryptocurrency exchange paid over $700 million for twenty-year naming rights.

Last month, Crypto.com was named a unique digital currency trading platform during the FIFA World Cup, which is believed to be the biggest nomination deal in the history of the sport.

In October, the NBA signed its first sponsorship deal with Coinbase.com.