The lowdown this week...
- The Bloktopia metaverse builds a decentralized environment for entrepreneurs
- UK Law Commission deems crypto an emerging type of property
- Unstoppable Domains reaches unicorn status after raising $65 million
- Foundry launches a digital arm for new Bitcoin mining hardware
Unstoppable Domains becomes crypto unicorn after raising $65 million
Unstoppable Domains recently raised $65 million in a funding round led by Pantera Capital. The company plans to simplify crypto payments seamlessly by providing NFT-based domain names for crypto wallets. According to the founder Matthew Gould, the digital economy is becoming more integrated into all aspects of our lives. It's crucial that people in this day and age own their identities, which is what Unstoppable Domains is trying to accomplish.
The $1 billion valuation highlights the importance of infrastructure behind decentralized, digital identities, separating “the identity component from the finance component.”
Matthew Gould, Founder of Unstoppable Domains
Since its launch in 2018, the platform has reached over $80 million in sales, with 2.5 million domains offered. The platform also includes integrations with 300 applications from OpenSea, Chainlink, Coinbase Wallet, and more. Unstoppable Domains is moving forward with full-force and a passion to expand partnerships with like-minded individuals and companies. They believe that companies have held control over people's digital identities for too long, and that they must take the power back.
Order in the Court!
UK Commission aims to clarify crypto property laws
The UK Law Commission announced plans to implement property laws for digital assets in Wales and England. They believe in the value of digital assets, and that the country should promote their growth. The UK government assigned the commission to review the law to ensure that it accommodates for the changes in digital assets. When crypto evolves, debt securities, equity, and payment methods also change - and the UK should be prepared.
In preparation for these changes, they proposed a new category of personal property called "data objects." Additionally, there are plans to set awards and fines for cryptocurrency-related actions. The commission is also open to receiving advice from crypto industry exports, whose words will be pivotal in shaping how existing property laws apply to crypto. The UK is currently building the proper legal foundations to support emerging cryptocurrencies.
Talk of The Town
A decentralized VR skyscraper offers immersive experiences
One VR skyscraper is becoming the talk of the town in the metaverse. Bloktopians are token holders and members of the Bloktopia metaverse, which allows them to play, learn, and earn revenue through real estate ownership and more. The metaverse boasts stunning visuals and a unique immersive experience made up of 21 floors in honor of there being only 21 million Bitcoin.
According to a study, 90% of Bloktopia’s members will be males ages 18 to 34 years old. These individuals are die-hard fans of crypto and can most likely earn up to $25-$50K per year. Members spawn directly on level 1 of Bloktopia, and are able to visit Elrond's virtual HQ. They'll have full access to the lounge along with content such as educational materials for reading. Similar to a shopping mall, this skyscraper will become a hotspot for crypto influencers, brands, and exchanges to share their content.
Foundry unveils logistics arm for Bitcoin mining equipment
Foundry, a fully-owned subsidiary of Digital Currency Group - announced a new logistics arm. This arm will focus on developing an all-in-one solution for mining hardware deliveries and reaching new heights of efficiency. Shortly after the announcement, Foundry offered a one-week course for aspiring Bitcoin mining technicians in New York.
Foundry's goal is to "provide the increasing number of institutions in this maturing industry with products, services and resources that are at par with those that exist in older and more established industries." Their Bitcoin mining hardware is set to be cost-effective and will provide clients with customs clearance, insurance guidance, domestic logistics, and more - removing the inessential stages for mining operators in the industry.
Food for thought:
- Will the future of Bitcoin mining be more green?
- What are some other sustainable ways one can mine for Bitcoin?
- Where would you explore in the Bloktopia metaverse?
- Are there other unicorns coming up in the crypto space?
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. Charts, graphs and references to any digital assets are for informational and illustrative purposes only.
Finblox Blog is associated with Finblox - a next-generation crypto ecosystem where you can buy and earn amazing rewards on your digital assets.