|
|
Saturday, 03 September 2022
|
|
|
World football governing body, FIFA has partnered with Algorand blockchain to launch an NFT-based collection of classic clips from the history of World Cup tournaments at the upcoming 2022 Qatar World Cup.
|
This development is impressive because NFTs are gradually shifting from ‘ape-themed worthless Jpegs’ to moments/assets documentation and ownership.
|
|
Here is our weekly newsletter roundup. Now get a bucket of popcorn and follow through. First, a brief summary….
|
|
|
|
Summary of the news
|
- LG To Launch Crypto Wallet
- Iran Approves Use of Crypto
- FIFA launches NFT
- Hermès ventures into the metaverse
|
|
|
LG to launch crypto wallet
|
|
South Korean electronics giant LG has announced that the company is developing a cryptocurrency wallet to launch later this year. The wallet is to be called Wallypto and will be part of a new business phase for the company.
|
According to a report by local South Korean news agency News 1 on Wednesday, the application will help the electronics giant to enter the blockchain space in earnest.
|
|
|
“It is also expected to actively create synergy effects by combining blockchain technology with existing flagship businesses such as home appliances and electric fields.
After going through the final verification process to catch system errors, it is likely to be released in the third quarter at the earliest or within the year at the latest.” - the announcement.
|
|
|
Wallypto will be powered by the Hedra Hashgraphy blockchain and will support HTS tokens. It is expected that the wallet will incorporate more cryptocurrencies upon its release. NFT support will also be included, as the wallet will allow users to register and check their NFTs.
|
|
|
|
Iran approves use of crypto
|
|
According to an announcement by Prague-based media firm Radio Free Europe/Radio Liberty on Monday, Iran is turning to cryptocurrencies as the nation’s international trades experience major setbacks due to United States sanctions.
|
Per the report, the Iranian authorities officially approved the establishment of a set of crypto regulatory measures. The use of digital assets for imports is part of the measures. These measures will serve as a foundation for further regulatory moves on cryptocurrency activities in the country.
|
Seyed Reza Fatemi Amin, Iran’s Minister of Industry, Mines and Trade, highlighted the move’s significance. He noted that the regulatory framework addresses all contemporary issues that pertain to cryptocurrencies. Such issues as “how to provide fuel and energy for mining them, and how to grant licenses.”
|
|
This approval comes three weeks after the country placed its first import order funded with cryptocurrency. Recall that on August 8, Alireza Peymanpak—Deputy Minister of Iran’s Ministry of Industry, Mines and Trade—took to Twitter to announce that the country had concluded a foreign transaction trade paid for with crypto.
|
|
|
|
FIFA launches NFT
|
|
FIFA will release a digital collectibles project on the Algorand blockchain ahead of November's World Cup, according to an announcement on Friday. FIFA+ Collect will launch later this month and allow soccer fans to own and trade “moments in time” featuring the greatest goals, saves, celebrations and more from World Cup and Women’s World Cup history, FIFA said.
|
The FIFA World Cup NFT clips will be connected to the Algorand blockchain as part of a deal cemented back in May to be a Qatar 2022 blockchain partner and wallet provider.
|
|
|
|
“This exciting announcement makes FIFA collectibles available to any football fan, democratizing the ability to own a part of the FIFA World Cup, Just like sports memorabilia and stickers, this is an accessible opportunity for fans around the world to engage with their favorite players, moments and more on new platforms.” - FIFA Chief Business Officer Romy Gai.
|
|
Sean Ford, the interim CEO of Algorand W says:
|
|
|
|
“FIFA’s platform – through a truly decentralized and scalable public blockchain – is the first tangible representation of the recently announced technical partnership between FIFA and Algorand. FIFA’s commitment to the bridge to Web3 enabled by Algorand is a testament to its innovative spirit and its desire to seamlessly and directly engage soccer fans around the world.”
|
|
|
|
|
Hermès ventures into the metaverse
|
|
Luxury brand Hermès has filed a trademark for its name, seeking to expand into NFTs and virtual currency, crypto, and NFT trading, virtual goods marketplaces, clothing, footwear, and fashion shows.
|
The filing with the United States Patent and Trademark Office (USPTO) on August 26 was revealed by licensed trademark attorney Michael Kondoudis in a tweet on Wednesday.
|
If the trademark filings is approved, Hermès will also offer downloadable computer game software featuring virtual goods and user authentication services using e-commerce technology, among others.
|
|
The general NFT trademarks have been on a high as more brands continue betting on the sector.
|
|
|
|
Other stories we are following
|
|
|
|
|
|
|
|
|
    
|