2021-12-10 19:08:49
Hey Nimbus community,
It has been a busy week for the crypto space. First thing first, Fidelity Digital Assets has been granted registration with the UK Financial Conduct Authority for its digital asset custody and trade execution business. Long story short it means that institutional investors will continue to fuel expansion in the cryptocurrency fund market
Howbeit, we doubt that without Fidelity financial sharks will abandon the newly-born industry any time soon. Why? According to Dan Morehead, the CEO of Pantera Capital (an American hedge fund that specializes in cryptocurrencies), digital assets could be the perfect hedge as bubbles in debt markets begin to pop. On top of that he mentioned that instead of focusing all of their regulatory energy on cryptocurrencies like bitcoin, governments around the world should look at systemic issues that are causing economic volatility.
Talking about NFTs, in the Sandbox virtual gaming world, a mega yacht has been sold for a whopping $650,000 and someone paid as much as $450,000 to become Snoop Dogg's neighbor in the metaverse. On top of that, Pepsi announced the brand's first-ever foray into the innovative and evolving world of non-fungible tokens with the Pepsi Mic Drop genesis NFT collection. Finally, Ross Ulbricht, the alleged founder of the dark web marketplace Silk Road, has sold his first NFT for $6.2 million or 1,446 Ether at auction.
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