Crypto NFT Today: The Latest Blockchain, Cryptocurrency and NFT News: Oct. 26-Nov. 1, 2022
Welcome to another edition of Crypto NFT Today! If you like cryptocurrency, NFTs and riding emotional roller coasters, this is the place to be.
Are you ready for the crunch? Let’s get started.
Businessweek columnist definitely writes crypto essay
Popular Bloomberg financial columnist Matt Levine has written a crypto manifesto of sorts. The longtime financial columnist published a 40,000-word article on all things cryptocurrency on Monday in Businessweek.
Amid one of the worst downturns in the industry’s 14-year history, Levine praised the good parts, criticized the bad and dangled hope that this newfangled way of moving money and information around has staying power.
For cryptocurrency historians, or new investors looking to learn the ropes in a relatively short period of time, the all-encompassing, definitive essay provides rich background and context. The complexities of the industry are (mostly) laid out in plain English, providing the perfect on-ramp for new users.
Read the article here.
UK votes to regulate crypto assets
Lawmakers in the UK voted to recognize cryptoassets as regulated financial instruments and products on Tuesday. The House of Commons will add crypt to the list of assets under the preview of the proposed Financial Services and Markets Bill.
The broad aim of the bill is to outline a post-Brexit economic strategy, and crypto slipped into the comprehensive document.
“The bottom line here is to treat them [crypto] like other forms of financial assets and not to prefer them, but also to bring them within the scope of regulation for the first time, Andrew Griffith, the finance minister and the city minister, said during the parliamentary session before lawmakers voted largely to keep the change in the legislative package.
Dogechain triples its value in a week
The token for Dogechain, DC, has tripled in value in the past week. It’s not the first time the memecoin has skyrocketed in value, and Dogechain community members are now voting on a “big burn proposal,” which will determine whether the total supply of the token will be reduced by 80% proportionally through all allocations.
DC traded at $0.0004 on Friday and rocketed – on a percentage basis – to $0.0018 on Sunday.
When Dogechain was created in August, it dropped 90% in the first month. Now it has rekindled much of its momentum, with a market cap of $46 million.
Mobile games receive an investment of 50 million dollars
The web3 gaming sector continues to receive mega infusions. The latest is a $50 million investment commitment to Manc from GEM Digital Limited. Manc is a mobile game development company that has already released three mobile games and reached over 3 million downloads.
The Mancium token is the tool of Manc Games and represents a next-generation public blockchain solution. Mancium also powers the overall Manc ecosystem, with the tool spreading from the marketplace for in-app purchases, special in-game events to the ability to gather supplies for the Manc Academy.
In addition, Mancium will have unique uses and opportunities in the meta versions of Manc Games.
