“Can’t Be Evil” NFT licenses, new crypto investments, inflation heats up in Eurozone + more news

Get your daily, bite-sized summary of cryptoassets and blockchain-related news – examine the stories that fly under the radar of today’s crypto news.

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NFT’s news

• Venture capital powerhouse a16z crypto said they are releasing a set of free, public “Can’t Be Evil” licenses designed specifically for NFTs. It codifies the rights of NFT creators, buyers and sellers so that all parties have a common understanding of the rights associated with NFT ownership. “While many NFT holders currently have to rely on creators and previous owners to make ‘non-evil’ decisions regarding their NFTs, projects using ‘Can’t Be Evil’ licenses could make NFT ecosystems more trustless, and provide holders with a minimum basis for standards real-world rights, thereby harmonizing real-world ownership with on-chain ownership,” they added.
• Porta Web3 marketplace protocol introduced by the major NFT marketplace Open sea, now supports Polygon (MATIC), which comes with a set of new features. “In the coming months, we will add support for Klaytn and other [Ethereum virtual machine]-compatible chains as well,” OpenSea said.
• The NFT powered protocol Coop is launching on Thursday with the aim of turning consumers into creators, backed by US$5 million from investors including 1 confirmation, Variant fund, and Balaji Srinivasan, Fortune reported. Koop says it “enables NFT communities, creators and brands to engage their holders and increase their cultural resonance.”

Investment news

• Seven Seven Six, a venture capital firm led by Reddit co-founder Alexis Ohanian plans to raise US$177.6 million for a new crypto-focused investment fund, The Information reported. The new fund is reportedly to be named Kryptósand will be the firm’s first fund focused solely on crypto.
• A group of former managers at Galaxy Digital and Genesis Tradingtwo crypto-focused financial services firms are raising $500 million for a new crypto fund, according to a filing to US Securities and Exchange Commission (SEC). Among those named in the filing were Galaxy Digital’s chief investment officer Michael Jordan, Genesis’ derivatives chief Joshua Lim and Genesis’ former vice president Roshun Patel.
• The NFT collective PROOF said it has raised US$50 million in a Series A funding round led by the venture capital giant Andreessen Horowitz (a16z), with participation from the old PROOF investor Seven Seven Sixplus Real ventures, Cooperation + currency, Flamingo DAO, SV Angeland VaynerFund.

Economy news

• Per Eurostat data, euro area annual inflation is expected to be 9.1% in August 2022, up from 8.9% in July and slightly above the consensus forecast, hitting a new record and increasing pressure on The European Central Bank to raise prices more.

Legal news

• A court in London has rejected Christopher Hamilton’s bid to delay extradition to the US, where he faces charges of money laundering and fraud stemming from the global USD 4bn. OneCoin crypto scams, Law360 reported.