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“MLB Fans Rejoice: Candy Digital Launches New NFTs After Fanatics Divestment”

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Major League Baseball is releasing new 2023 season digital collectibles with Candy Digital, the NFT startup that’s entering its third season as an official MLB partner. Candy Digital was founded in 2021 as the NFT market surged to new heights, but faced challenges in late 2022 and at the start of this year. The firm laid off more than one-third of its approximately 100-person team in November 2021, however Fanatics still holds a smaller stake in the company. Candy Digital quickly notched a $1.5 billion valuation upon raising $100M in October 2021 in a round co-led by Insight Partners and Softbank’s Vision Fund. Topps, which Fanatics bought, also has its own NFT initiative and Candy Digital was announced in June 2021 with founding board members including entrepreneur and VeeFriends creator Gary Vaynerchuk, Fanatics CEO Michael Rubin, and Galaxy Digital CEO Mike Novogratz. Ahead of Opening Day on Thursday, Candy Digital released its 2023 MLB Showstopper ICON series, an NFT collection of 43 MLB stars priced at $43 per pack with three player collectibles included per pack. That drop sold out Wednesday in about three minutes. Candy’s commemorative game tickets will continue to be offered this season after nearly 200,000 NFT collectible tickets were redeemed by fans who attended games last MLB season. Candy is joined in the sports NFT space by other major players such as Dapper Labs and Sorare that is partnered with MLB, the NBA, MLS, and English Premier League. Candy Digital is looking to expand 3D volumetric technology to its other digital collectible projects and to integrate augmented reality (AR) integrations. They are also hoping to eventually combine their NFT collectible tickets with admission access to events. #MLB #NFT #CandyDigital #SportsCollectibles #EntertainmentNFTs

You can read more about this topic here: Decrypt: Candy Digital Pushes Forward With New MLB NFTs After Fanatics Divestment

The post “MLB Fans Rejoice: Candy Digital Launches New NFTs After Fanatics Divestment” first appeared on Byte Syze Crypto.

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Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year

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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.

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Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May

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#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.

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CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry

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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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