Tag: BTC Investment

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

Collection of fine South African wines sold as NFTs

South African fine wine collections were recently sold as non-fungible tokens (NFTs) with one lot selling for $79,000. Immediately after the auction, two lots were paid for with bitcoin.

Many exceed estimates

Collections of fine wines made by some of South Africa’s top producers have been sold as non-fungible tokens (NFTs) in what has been described as a first for the country’s wine industry. At the auction, which was run by art auction house Strauss & Co, some lots, such as Klein Constantia’s Vin de Constance vertical collection from 1986-2027, sold for $79,000 (R1,251,800).

Other lots that exceeded estimated prices include winemaker Meerlust’s “50-year-old vertical of the famous Rubicon,” which sold for $68,000. Vilafonté Series C 2003-2027 raised over $36,000 while Mullineux Olerasay 1-20 would have raised $20,000. Kanonkop Paul Sauer’s 2000-2025 collection sold for $16,000.

Protecting South Africa’s Fine Wine Heritage

Speaking after the sale, Roland Peens, fine wine specialist at Strauss & Co, said:

This is a huge step towards securing South Africa's fine wine heritage! These pristine old bottles are now safe on the blockchain for future transactions and fun. We believe this new technology is the most powerful way to package and market vintage wines, especially when provenance is so vital.

A statement issued after the sale said that while each collection is an NFT, the individual bottles will also be “minted” as NFTs and “can be withdrawn or exchanged at any time on any NFT platform worldwide.” Immediately after the sale, two lots were paid for with bitcoin, the statement added.

Meanwhile, the release revealed that a total of $6,000 was raised simultaneously for charities that are critical to the South African wine industry.

Categories
Bitcoin Bitcoin Investment Bitcoin Wallet Crypto Mining cryptocurrency exchange Cryptocurrency Investment Cryptocurrency news Investment News

Billionaire’s Colorful Dubai Real Estate Company Now Accepts BTC and ETH

“Offering another transactional mode is exciting and we are pleased to recognize the value this technology brings to our customers,” said DAMAC Properties COO Ali Sajwani.

Dubai-based billionaire real estate developer DAMAC Properties has started accepting payments in Bitcoin (BTC) and Ether (ETH) for its luxury homes.

DAMAC Properties was founded by colorful billionaire Hussain Sajwani in 2002, and the company has done business across the Middle East, Canada and the UK. It also owns the high quality fashion and jewelry brands Roberto Cavalli and De-Grisgono.

Sajwani is known for his bizarre marketing tactics, like giving away free Lamborghinis to homebuyers. He also partnered with Donald Trump in 2013 to launch several Trump-branded golf courses in Dubai.

The company, valued at around $2.1 billion, may be looking to cryptocurrencies as a way to garner attention after a disappointing few years. DAMAC reportedly reported net income of $816 million in 2021, but overall had a net loss of $144.6 million amid a year plagued by the global pandemic. The previous year, the company’s losses also totaled $176 million.

According to an April 27 announcement, in addition to accepting payments in BTC and ETH, the company will also facilitate the conversion to fiat for the seller if needed. DAMAC COO Ali Sajwani noted that the company is paying special attention to evolving technology such as cryptocurrencies:

“It is crucial that global companies like ours remain at the forefront of evolution. Offering another transactional mode is exciting and we are pleased to recognize the value this technology brings to our customers.”

DAMAC also highlighted that Dubai is “becoming a cryptocurrency hub” thanks to crypto-friendly government regulations and virtual asset licenses, with major exchanges such as Bybit, Binance and FTX Europe recently settling there. Kraken also obtained a license earlier this week.

The company noted that it is keen to “fuel” Dubai’s ambitions by implementing more cryptocurrency initiatives.

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

Amazon is not ready to accept crypto payments

Amazon has come up with some pretty disappointing news for crypto fans. The company seems to have come and gone through time when it comes to accepting cryptocurrency payments, and now it looks like the company is not ready to move in that direction.

Amazon Kills All Hopes of Cryptocurrency Payments

Amazon is one of the biggest, if not the biggest, retailers in the world. The online sales giant initially started out as a place to buy books, but now it looks like you can buy whatever you want via the company’s website. All you need is login information and a valid payment method, and you’re good to go.

But the fact that it is not ready or even willing to accept cryptocurrencies really undermines the power of the industry we love and respect so much, especially as it is one of the many companies that do not allow cryptocurrencies to function in their original capacity. . While there are many companies that do this, the fact that Amazon is so big hurts even more.

Initially, bitcoin and its cryptographic partners were designed to serve as payment methods for goods and services. It is easy to forget this, as BTC and many other digital currencies have taken on speculative auras in previous years. They are seen as ways to get rich overnight if you play your cards right. They are also, in many ways, seen as hedging tools; things that keep wealth steady and steady during times of economic turmoil.

However, they were originally built as a means of bypassing fiat currencies, checks, and credit cards. Unfortunately, this did not happen because they are often subject to high volatility, making their prices difficult to predict. They can go up and down at any time and therefore many stores are reluctant to say “yes” to cryptocurrency payments for fear of losing profits. To some extent, we cannot blame them.

Consider the following scenario: a person walks into a store and buys $50 worth of goods with bitcoin. For one reason or another, the store does not exchange currency for fiat and spend 24 hours. In that period, the price of bitcoin drops and that $50 becomes $40. The customer keeps everything they bought, but in the end the store lost money. Is this a fair situation? Not everyone thinks so.

Perhaps NFTs are a good entry into the crypto space

Amazon CEO Andy Jassy explained that while the company does not currently accept cryptocurrencies, executives may enter the world of non-fungible tokens (NFTs) in the future. He commented:

We are probably nowhere near adding cryptocurrencies as a payment mechanism in our retail business, but I think over time you will see cryptocurrencies get bigger.
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 Investment Bitcoin Wallet Cryptocurrency Investment Cryptocurrency news NFT Investment

Amazon CEO: Crypto Will Get Bigger, NFT Will Grow ‘Very Significantly’

The CEO of e-commerce giant Amazon is bullish on cryptocurrencies and non-fungible tokens (NFTs). He says that over time, cryptocurrencies will “get bigger” and NFTs will continue to “grow very significantly.”

Amazon CEO accepts cryptocurrency payments and sells NFTs

Amazon CEO Andy Jassy discussed cryptocurrencies and non-fungible tokens (NFTs) in an interview with CNBC on Thursday. Jassy replaced Jeff Bezos as chairman and CEO of Amazon in July of last year. Previously, he led Amazon Web Services (AWS) from its inception in 2003.

On whether Amazon will accept cryptocurrencies for product payments on its platform, the CEO stated: “We are probably not close to adding cryptocurrencies as a payment mechanism in our retail business.” However, he noted:

I think over time you will see cryptocurrencies get bigger.

Commenting on whether he owns any cryptocurrency, the Amazon executive revealed: “I don’t own bitcoin.”

When asked if Amazon might one day sell NFTs, Jassy replied, “I think it’s possible in the future on the platform.” Revealing that he does not own any NFTs personally, the Amazon boss opined:

I expect NFTs to continue to grow very significantly.

The e-commerce giant is hiring cryptocurrency experts for various divisions of the company. In November of last year, AWS posted a job listing for a digital asset specialist who can “help drive adoption in the global digital asset community.”

Amazon also posted a job posting for a blockchain and digital currency specialist for its payment acceptance and customer experience team in June last year, with the goal of developing the company’s blockchain and digital currency strategy. company as well as a product roadmap.