Crypto News
“Floor’s Falling Fast: GQ Magazine’s NFT Drop Flops – Decrypt”
GQ is the latest legacy print magazine to make moves in Web3 with the launch of its GQ3 community and the associated Ethereum NFT drop. The mint offered 1,661 NFT access passes for 0.1957 ETH apiece, but only 1,060 were sold. To reward buyers, GQ is randomly airdropping half of the remaining supply to existing holders and keeping the rest for community and promotion. To herald the launch of its GQ3 initiative, the Condé Nast-owned publication released an NFT-themed print issue and a Discord server. Each GQ3 NFT comes with various upcoming benefits, such as a one-year print magazine subscription and digital access, a GQ hat, priority access for future NFT drops, and access to GQ3 parties. Secondary market prices for the NFTs have been falling sharply, and GQ is far from the first brand to fall short with its NFT drop. This is not the first time a curtailed supply has boosted demand, as seen in Porsche’s NFT drop.
This news shows that GQ is trying to reward buyers of its NFT drop by randomly airdropping half of the remaining supply to existing holders. This is a sign of good customer service, as buyers are guaranteed additional potential value when an NFT launch does not result in enough sales. This is good news for NFT buyers, as it shows that GQ is committed to its GQ3 initiative for the long-term. #GQ3 #NFT #Web3 #Ethereum
You can read more about this topic here: Decrypt: GQ Magazine NFT Drop Flops—And the Floor Is Falling Fast
The post “Floor’s Falling Fast: GQ Magazine’s NFT Drop Flops – Decrypt” first appeared on Byte Syze Crypto.
Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.
This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.
#Huobi #HongKong #CryptoLicense #VASP #JustinSun
You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months
The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.
#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors
You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost
The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.
The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations
You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules
The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.
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