South Korea To Delay 20% Crypto Tax By 2023 Amid Pressure From Young Voters

Calls for a crypto tax have drawn severe backlash in the country where crypto trading is ubiquitous. Now, the governing party is set to delay the crypto tax, according to The Korea Times. Due to diminishing support from young voters ahead of the upcoming elections in May, the government will ask regulators to delay the implementation by one year. So instead of on January 1, 2022, the tax will take effect in 2023. Indeed, there were signs that this decision…

Crypto Surges As Major Blockchain Networks Get Long-Expected Overhauls

As major blockchain platforms are seeing upgrades, major cryptos are surging on a wave of trader enthusiasm. Bitcoin is surging to all-time highs, breaking $67,000. However, altcoins are doing even better. Ether has reached an all-time high of $4,841 following a network upgrade. Ethereum's Altair Upgrade Since the start of 2021, Bitcoin's dominance has fallen from 73% to 44%. Meanwhile, Ether's share of the crypto market cap has risen to 20%. Its main advantage is that it powers the Ethereum network, a…

What Are NFTs, and Why Are Some So Valuable?

As if cryptocurrencies weren't confusing enough, Non-Fungible Tokens (NFTs) are another blockchain native asset class causing people's heads to spin. While only a fifth of American adults is actually familiar with NFTs, their staggering growth deserves world renown. OpenSea – a popular NFT marketplace – saw over $1 billion in trading volume throughout August. Moreover, the entire space has amassed $500 million in trading volume daily at the time. Most notable are the prices people are paying for some of…

How to Use Ethereum Smart Contracts

Smart contracts might seem like complex cryptocurrency jargon to contemplate, but in reality, it's not. An Ethereum smart contract is an automated agreement between two parties written in code. Smart contracts have continued to bloom in the crypto space, and more is yet to come. One analysis shows that the wise contract market size might reach USD 345.4 million by 2021 at a CAGR of 18.1%. Ethereum smart contracts have had a notable impact in revolutionizing the crypto space and…

Alibaba Plans to Integrate the Blockchain Amid Growing Interest in NFTs

Chinese technology company Alibaba plans to introduce a Non Fungible Token section, powered by the "Guangjian" NFT digital collection, into its innovative Auction service. The news comes as stories of Alibaba's collaboration with rivals Tencent continue to stir up. Alibaba's plot to dive into the NFT market echoes its plight to tap into blockchain technology. Guang Jin is an NFT platform that Bit Universe recently launched on August 15. Surprisingly, Guang Jian almost immediately gained the interest of Alibaba. According…

The NFT Craze in the World of Film/Movie Industry

The NFT craze has been around since 2017, and it's clear why many people are eager to jump onto the bandwagon. Interestingly, people around the world have spent a total of $174 million on NFTs since November 2017. NFTs can revolutionize the film industry since they are built on the bedrock of crypto technology, which means that they have a long-term value that will last. Several examples of how NFTs have fully transformed other industries like art, music, and games,…

Difference Between Wrapped Assets, NFTs, and Stablecoins

If you live outside the cryptocurrency and blockchain realm, it can be hard to understand the latest terminologies hitting the headlines and news feeds. However, what’s likely to be more surprising and eye-catching at the same time is the dollar amount mentioned alongside the terminologies. Like, how can a virtual creation of an artwork file sell for close to $70 million?! Well, that’s the amount the highest bidder was willing to pay for an NFT on Christie’s auction a few…

Coinbase Founder Predicts Most Cryptos and NFTs Will be Worthless within a Decade

Bitcoin, Ethereum, Dogecoin, Binance Coin, Cardano, XRP, and several other top cryptocurrencies were seen struggling for most of the week. The market cap of all cryptocurrencies together had tumbled under $1.4 trillion from $1.75 trillion on Tuesday. Bitcoin, for instance, had topped the $40,000 price mark on Monday following Elon Musk's tweet on Tesla suspending vehicle purchases using Bitcoin over the weekend. However, shortly after that, it resumed its drop after Tuesday end of the day, falling back toward $30,000…

Fantastec Partners With Dapper Labs to Launch NFTs on Flow Network

Today, fantastic, a startup based in London, revealed that it has partnered with Dapper Labs, NBA Top Shot, and CryptoKitties creator. The partnership can shift its private blockchain SWAP NFT collectibles to a public blockchain, Flow, later in the summer. Building NFTs for Soccer Flow is a next-generation blockchain, open-source, which delivers scalability, cost efficiency, and environmental sustainability. It hosts Dapper's NBA Top Shot, where P2P trading accounted for most of the overall Top Shot sales of 600 million dollars,…

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