Sandbox

Pride in the Metaverse: Blockchain tech creates new opportunities for LGBTQ+ people

A number of social gatherings have started to take place in the Metaverse as companies across the globe begin to understand the value that virtual interactive environments can have for consumers. It shouldn’t come as a surprise then that Pride Month — a month-long celebration held in June to commemorate the 1969 Stonewall Riots — will be celebrated in various metaverse environments this year.  Pride in the Metaverse creates open access Akbar Hamid, co-founder of People of Crypto Lab (POC) — an innovation hub dedicated to increasing diversity and representation in Web3 — told Cointelegraph that the Metaverse is an incredible way to allow people around the world to partake in events they may not be allowed to participate in otherwise. “We want Pride Month 2022 to be an event anyone can ...

‘Our democracy will better evolve because of DAOs,’ says Animoca’s Yat Siu

The rise of Web3 has paved the way for new business models that could shape the next phase of the internet. For instance, nonfungible tokens (NFTs) will play a large part in the open metaverse as the underlying assets people interact with. Decentralized autonomous organizations (DAOs) are also coming to fruition to allow for community governance within virtual environments.  The growth of Web3 has essentially allowed NFTs and DAOs to flourish. For example, recent data from DeepDAO — a DAO stats platform — shows that DAOs have experienced 130-times growth over the last year, reaching a market capitalization of $24.8 billion. In December 2021, DeepDAO found that the total assets under management (AUM) for DAO treasuries listed on the platform increased from around $380 million in Januar...

Qatar exploring digital banks and central bank digital currencies

The Qatar Central Bank (QCB) is reportedly investigating the possibility of launching a digital currency and issuing digital bank licenses.  According to the head of the fintech section at QCB, Alanood Abdullah Al Muftah, the central bank is expected to set a direction for its future focus soon on a range of fintech verticals.  Al Muftah noted that QCB will also determine whether Qatar can establish a central bank digital currency (CBDC). She explained: “Each central bank should study digital banks, considering their growing significance in the global market. We also see the direction of the market moving toward having a digital currency. However, it’s still being studied whether we’re having a digital currency or not.” While commenting on Qatar’s re...

3 times in March that savvy crypto traders bought breaking news for the price of a rumor

As an old saying goes: Buy the rumor, sell the news. As a digital-native asset class, the prices of cryptocurrencies are clearly susceptible to market-moving news developments that instantly spread on the internet. Staying on top of bullish announcements can help crypto traders reap huge gains, but navigating the crypto news landscape can be daunting. Two major roadblocks get in the way: the abundance of potentially relevant information and the difficulty of making sure one is always among the first to learn the news that really matters. Extensive research shows that three types of crypto-related developments move digital asset prices most consistently: listings, staking announcements and big partnerships. This insight somewhat narrows down the scope of the developments that will most inte...

The Sandbox (SAND) metaverse token gains 40% after Snoop Dogg, Warner Music partnership

Sandbox (SAND) refused to go down despite broader negative market sentiment in the past 24 hours. Instead, the altcoin logged a breakaway recovery as traders assessed its recent high-profile partnerships as a sign that the project has strong fundamentals. SAND rose 10.23% to $3.38 at the UTC close on Jan.27, followed by another 5.42% spike to $3.57 on Friday. In contrast, Bitcoin (BTC), dropped 1.41% within the same timeframe. SAND/USD daily price chart. Source: TradingView SAND adoption booms Traders decided to increase their exposure to SAND after the Sandbox announced partnerships with American rapper Snoop Dogg and Warner Music, a major record label. On Jan. 27, Snoop Dogg tweeted a teaser of what appeared to be his upcoming nonfungible token (NFT) collection, dubbed ...

The Sandbox announces $50M fund for its startup accelerator program

Virtual world project The Sandbox announced its metaverse accelerator program that will push the development of the open metaverse by investing $50 million in startups. The Animoca Brands subsidiary is partnering with the venture accelerator firm Brinc to target 30 to 40 blockchain startups a year for the program. The Sandbox Metaverse Accelerator Program will allocate up to $250,000 in investment to each potential project and will give additional incentives to top-performing projects. The bonuses include The Sandbox (SAND) digital asset and LAND, digital real estate within The Sandbox’s metaverse. Apart from this, the best-performing startups will also have access to additional investment grants and high-profile mentors. According to The Sandbox Co-Founder Sebastien Borget, the program is...

Coronavirus: CBN doubles loan disbursement to N300 billion – bank governor

The Central Bank of Nigeria (CBN) says it plans to double the Targeted Credit Facility (TCF) from the initial N149.21 billion to N300 billion following the resounding success recorded in the disbursement of the Covid-19 loans to the applicants. In his keynote address at the 2nd virtual seminar for Finance Correspondents and Editors at the weekend, the Governor said the Bank took the decision in order to accommodate many more beneficiaries as well as boost consumer expenditure which would positively stimulate the economy. He disclosed that the CBN initially created a N150 billion Targeted Credit Facility (TCF) for affected households and small and medium enterprises through the NIRSAL Microfinance Bank, adding that already, N149.21 billion has been disbursed to 316,869 beneficiaries. “Given...