Discover the top news in crypto for the week!
More countries are legalising cryptocurrencies, while more local and national governments implement blockchain-based initiatives. Meanwhile, real estate and tourism are the top industries embracing crypto while more institutions enter the Metaverse. Find out the top 5 crypto news of this week.
PwC report calls NFTs ‘the future of digital assets in sports’
PricewaterhouseCoopers (PwC) released a ‘sports outlook 2022’ report for North America, highlighting the growing importance of tokenization in sports. In particular, PwC predicts that NFTs can change sports technology, increase the relationships between fans and organisations with collectibles, and create new virtual experiences. From having tokenized season tickets to gathering collectibles across virtual platforms, the future of sports will pass through NFTs, digital assets, and tokens. Read more
Meet the real estate mogul of the Metaverse, who has already spent millions and plans to profit from rent and billboards
The Metaverse is the biggest trend within the crypto world in recent months, with institutional investors now actively investing in it. Andrew Kiguel, the CEO of a crypto investment firm, now has a portfolio of Metaverse land across several virtual platforms worth millions, and the company intends to keep buying and not selling it. The investor sees a great opportunity for advertisement in the virtual world, with those owning digital real estate being in a prime position. Read more
Returned ‘Proof-of-Work ban’ in EU crypto markets bill fails in committee
This week, the EU voted on a bill intending to set limits on proof-of-work, potentially impacting crypto mining. On Monday, the ECON committee of the European Parliament voted against that ban, stopping potential impediments to currencies like bitcoin due to environmental concerns. This negative vote is important for the future of bitcoin mining in Europe, given that the EU houses between 12 and 14 percent of the global bitcoin hash rate. Read more
Real estate leads securitised blockchain assets in 2022 — Report
Real estate is leading the security token industry, according to a new research report by CoinTelegraph. Security tokens are being used across industries, from art to wine and property, while mixing the power of blockchain technology with ownership. According to this report, real estate token trading accounts for 89 percent of the security token market, with 87 percent being residential and 2 percent commercial real estate. Read more
Cryptocurrency payments are accepted the most by the travel industry, adoption study shows
Tourism and fast-food chains are the most crypto-friendly industries, followed by e-commerce and non-profits/charities. A new study from Traders of Crypto shows that over 11 percent of touristic companies are accepting crypto payments. These adoption levels ‘reflect a huge shift in the public perception of crypto, with its value finally being realised by consumers and businesses alike.’ Read more
To be the first to get the latest news on Sygnum and the market, expert insights and industry research please follow us on Linkedin and Twitter.
This document is purely for educational purposes and has been issued by Sygnum Group. It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a marketing communication. It does not constitute an offer or a recommendation to subscribe, purchase, sell or hold any security or financial instrument. It contains the opinions of Sygnum Group, as at the date of issue. These opinions and the information contained herein do not take into account an individual‘s specific circumstances, objectives, or needs. No representation is made that any investment or strategy is suitable or appropriate to individual circumstances or that any investment or strategy constitutes personalized investment advice to any investor. Therefore, you must verify the above and all other information provided in the document or otherwise review it with your external advisors. Some investment products and services, including custody, may be subject to legal restrictions or may not be available worldwide on an unrestricted basis. The information and analysis contained herein are based on sources considered as reliable. Sygnum Group uses its best efforts to ensure the timeliness, accuracy, and comprehensiveness of the information contained in this document. Nevertheless, all information indicated herein may change without notice.