According to a Portugal tax [report](https://www.dgo.gov.pt/politicaorcamental/OrcamentodeEstado/2023/Proposta do Or%C3%A7amento/Documentos do OE/OE2023_Relatorio.pdf) released Monday, the Portuguese government has suggested a new [crypto tax](/news/article/crypto-tax-uk) proposal to be exercised as part of its 2023 national budget.

Portugal has become an attractive location for foreign residents over the last decade, owing to its more flexible visa and immigration options and overall affordability. 

Crypto has become one of the significant reasons for Portugal's changing demographics. 

But, with the implementation of Portugal's [crypto tax](/news/article/uk-crypto-tax-regulations) rules from the following year, the country is about to change its stance on the taxes of virtual assets. According to a new budget proposal submitted to Parliament by Finance Minister Fernando Medina, the country will [impose a 28% tax on all crypto income](https://cointelegraph.com/news/portugal-proposes-28-tax-on-annual-crypto-trading-profits-next-year) beginning in 2023.

 ![portugal.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/portugal_d53ada3fee.png)

If the budget is approved, Portuguese cryptocurrency traders must report their earnings and pay 28% taxes on all crypto gains held for less than 365 days. On the other hand, investors are not required to pay taxes on assets held beyond the specified period.

Portugal has stated that the new rules are consistent with crypto legislation in other European nations, such as Germany, where investors pay zero taxes if they hold crypto for more than a year.

At a press conference, António Mendonça Mendes, The Secretary of State for Tax Affairs, stated, "It's a regime that fits into our tax system and what is being done in the rest of Europe."

Currently, the Portuguese government only requires businesses and professionals who use cryptocurrencies to follow the tax rules governing the region's corporate entities.

As one of the world's most crypto-friendly countries, the proposed budget includes provisions for implementing taxes on crypto gains and plans to impose 10% taxes on digital assets transferred to other users freely without charge. Similarly, the government intends to impose a 4% surcharge on commissions charged by brokers to process cryptocurrency transactions.

In addition to the proposed taxation of digital assets, the country intends to tax cryptocurrency mining and issuance profits. While the proposal is subject to final legislative procedures before approval, all regional cryptocurrency activities will be taxed.

## Portugal to introduce a crypto regulation framework

The proposed budget seeks to introduce a framework that will allow the country to have a comprehensive regulatory framework that will significantly impact the use and adoption of cryptocurrency.
 


Portugal to impose a 28% crypto tax from 2023

Fintech (financial technology) has created numerous opportunities for disruptive economic entrepreneurship. More companies in Singapore are looking to provide services for buying and selling digital payment tokens (such as cryptocurrency) or a platform for exchanging such digital payment tokens.

As a result, the Monetary Authority of Singapore (MAS) enacted the Payment Services Act (PSA) to accommodate and regulate such payment service transactions, requiring any business that intends to provide digital payment token services first to obtain the necessary licences.

Recently, the Singapore-based arm of the US cryptocurrency exchange [Coinbase received Singapore's MAS "in-principle approval"](https://www.coinbase.com/blog/singapore-ipa-announcement)to provide crypto services in the country.

![Coinbase.PNG](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Coinbase_3caa112189.PNG)

Hassan Ahmed, CEO of Coinbase Singapore and the exchange's regional director for Southeast Asia, told in a statement that Singapore is a critical institutional market for the exchange in Asia because businesses there continue to show interest in crypto and digital advancements. 

According to Ahmed, the city-state also serves as Coinbase's Asia-Pacific tech hub, with an on-the-ground team of engineers in charge of the company's international expansion efforts and platform localisation.

With the new approval to offer Digital Payment Token services, Ahmed said [Coinbase](/news/article/blackrock-crypto) would seek to collaborate with regional platforms and expand its fiat capabilities. Coinbase was already offering services, including its institutional platform, under an exemption granted by MAS.

The exchange claims it has ongoing collaborations with regional Web3 organisations like the Singapore Fintech Association(SFA) and the Association of Crypto-Currency Enterprises and Start-ups (ACCESS).

## Other firms to qualify for in-principle approval

Under a new regime, approximately 180 crypto companies applied for a crypto payments licence with the Monetary Authority of Singapore in 2020. Following extensive due diligence, the country has granted 17 in-principle approvals and licences.

Among those who have received licences are Coinbase, [Crypto.com](/news/article/crypto.com-news-uk-approval), and DBS Vickers, the brokerage run by the country's largest bank DBS (DBSM.SI).
 



Coinbase gets Singapore in-principle approval for DPT license

1inch Network is a DEX aggregator that scours decentralised exchanges for the most profitable liquidity provider platforms. It provides users access to 116 sources on the Ethereum ecosystem, the [Binance Smart Chain](/news/article/bnb-price), and the [Polygon](/news/article/polygon-nft-drops-2022) Network.

The aggregation protocol employs various algorithms to perform its function, providing users with access to liquidity sources worth more than $30 billion.

Sergej Kunz and Anton Bukov, two Russian developers, created 1inch Network. They have expertise in smart contract auditing. Kunz and Bukov, both avid DeFi enthusiasts, began experimenting with arbitrage bots, creating the first medium viable product during the ETHNewYork hackathon in 2019.

Since then, the platform has raised approximately $15 million in funding and is governed by the 1inch Network Foundation, a non-profit organisation that launched the 1inch token in December 2020.

## How does the exchange work?

The 1inch Network protocol splits orders across multiple DEXs to find the best market price. The protocol employs a combination of arbitrage bots and other algorithms to accomplish what would require several pairs of hands working at breakneck speed from humans. Users can swipe tokens on three networks at the lowest prices thanks to 1inch Network.

## What is a 1inch token?

1inch is an ERC-20 token designed to serve as the 1inch ecosystem's governance and utility token. The token is available on various exchanges, including Binance, Coinbase, Uniswap, KuCoin, Gemini, and PancakeSwap.

The following are the primary applications for the 1inch token:

•	Utility: The [token](/news/article/crypto-coin-vs-token) can be used as a connector on the Liquidity Protocol to aid in efficient token swap routing.

•	 Governance: All governance votes on the 1inch Network require the token.

•	 Multi-chain: The token is accessible via a bridge on the Ethereum and BSC networks.

How to trade on 1 inch?

1. Connect your wallet 
Go to [1inch.io](https://1inch.io/) and click the "Connect wallet" button in the top right corner.
Select your wallet in the pop-up window (Metamask), and click the "Connect" button.
Your Ethereum address will be visible at the top of the page once the wallet is connected. You can always copy the address, disconnect the wallet, and check your transaction history by clicking on it.

 2. Basic settings
In the dropdown windows, select the coin you have and want.
You can also choose between 'Maximum return' and 'Lowest gas cost'. If you select the 'Maximum return' option, the algorithm will use complex swap routes to ensure you get the best rates.

You can also select the 'Lowest gas cost' option. In that case, the pathfinder algorithm will determine the most cost-effective option in terms of gas. This option is useful for small trades where you don't want to pay high fees, such as converting 10 USDT to WETH. Small transactions optimise fewer liquidity sources; thus, the option with the lowest gas cost will most likely deliver the lowest price. 

3. Swap the coin
Click on the "swap" button. And you get the coin you want at the lowest price.

## Benefits of using 1inch exchange

The primary benefits of using the [exchange](/news/article/best-exchanges-for-crypto-uk) are as follows: 

1.	User-friendly interface
2.	No additional transaction fees: The exchange does not charge any additional fees.
3.	Low swapping charges: Users can choose between different exchanges and actively select the best prices and gas fees.
4.	The platform is safe and secure for transactions. 
5.	Favourable crypto rates: The Pathfinder feature lets users quickly find the best rates for cryptocurrency exchanges.
6.	Increase liquidity: As a DEX aggregator, the exchange has access to over 50 DEXs with significant liquidity.

## Bottom line

1inch includes a slew of features, including an innovative governance model that aims to change the way decentralised networks are managed. With a market capitalisation of approximately $500 million, 1inch Network's ERC-20 token provides sufficient liquidity and provides traders and liquidity providers with a profitable and cost-efficient service.
 



A comprehensive guide to the 1inch Network

The Reserve Bank of India is about to launch India CBDC, or Central Bank Digital Currency, aimed at specific use cases.

According to the Reserve Bank of India (RBI), "multiple technological options will be tested, and the final architecture will be decided based on the results." The Indian Central Bank recently published a report titled "[Concept Note on Central Bank Digital Currency](https://rbi.org.in/Scripts/PublicationReportDetails.aspx?UrlPage=&ID=1218)."

The RBI clarified that the concept note's goal is to raise awareness about CBDC and the characteristics of the digital rupee. It explains the objectives, options, benefits, and risks of CBDC in India.

It discusses technology and design choices, potential uses of the digital rupee, issuance mechanisms, and the effects of CBDC implementation on the banking system, monetary policy, financial stability, and privacy concerns.

## India CBDC

[CBDC](/news/article/cbdc-uk) will be a payment medium, legal tender, and safe store of value for all citizens, businesses, governments, and others who can convert cash into digital rupees. It aims to speed up transactions while lowering costs.

It will be consistent with RBI monetary policy and appear on the central bank's balance sheet as a liability. It is a fungible legal tender that does not require holders to have a bank account.

Digital currency will be introduced gradually, with appropriate phase-out strategies. This means that the launch will proceed through various stages of pilots, followed by a final launch.

In addition, there will be concurrent use cases that can be implemented with little to no disruption.

## RBI on CBDC

The Reserve Bank of India has also been analysing the idea of "implementing account-based CBDC in the wholesale segment and token-based in the retail segment via a graded approach." 

The RBI has also expressed concern about the recent rise in the popularity of cryptocurrency. It is concerned that the proliferation of crypto assets will pose significant risks in terms of money laundering and terrorism financing.

"The unabated use of crypto assets may pose a threat to monetary policy objectives because it may result in the creation of a parallel economy and will likely undermine monetary policy transmission and domestic currency stability," it said.

The RBI stated that developing the CBDC could provide the public with a risk-free digital currency that will provide them with lawful benefits without the risks associated with dealing in private virtual currencies. 






RBI to launch India CBDC

With 100,000 unique avatars created using Epic Game's MetaHuman Creator, Nifty's and Warner Bros. have launched [Matrix Avatars](https://niftys.com/thematrix), a first-of-its-kind NFT project, in advance of "The Matrix: Resurrections", the fourth instalment in the franchise. 

The project represents the entry of the first sizable motion picture IP into the vibrant NFT avatars market. Most importantly, it gives franchise fans the chance to live inside the Matrix universe as a unique character. 

Warner Bros. and Nifty chose to mint the NFTs on the Palm blockchain because it's environmentally friendly and uses minimal energy.

![matrix 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/matrix_1_e8412a4d37.png)

## How to purchase a Matrix NFT?

Avatars are on sale for $50 each. Fans can purchase avatars using fiat currency (credit or debit cards) or [cryptocurrencies](/articles/learn-moni/cryptocurrency-trading-strategies) (DAI on the Palm blockchain). They can enter the waiting area, and from there, Nifty's members are added to an order line to ensure a quick and easy transaction process.

## Matrix NFT purchase limit

You can purchase up to 25 NFTs. Warner Bros. has restricted the purchase price to allow more fans to buy avatars. The purchase restriction will be lifted eventually, and fans can buy as many NFTs as they want through Nifty's secondary market. In addition, 5,000 avatars have been reserved for community-building activities such as giveaways and promotions.

## Matrix Resurrections NFTs

The Resurrections NFTs are an excellent way to engage fans. The avatars are released in two stages:

1.    The first stage
The first sale took place on November 30, 2021. These resembled ordinary people trapped in the Matrix's world. These NFTs were all randomly generated. They are only available on Nifty's marketplace. 
However, due to the random nature of the generation, there are numerous attributes and permutations.

2.    The second stage
In the second stage, the users are offered the choice of taking a Blue Pill or a Red Pill. 

![matrix 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/matrix_2_e95ae83f6a.png)

The avatar will remain imprisoned in the Matrix if you take a blue pill, perhaps to enjoy the [Metaverse](/news/article/how-to-invest-in-metaverse).

The avatar will change into a resistance fighter after taking the red pill. Although the avatar won't change, the resistance fighter will receive upgrades. The Matrix film series primarily influences the entire environment.

## Is Matrix NFT a profitable investment?

The NFT promises good future returns. Aside from their excellent utility, avatars are valuable digital collectors' items crucial to the film industry. They, along with other movie [NFT](/news/article/blue-chip-nfts) collections, will pave the way for incorporating digital art pieces into the film industry.
 



Matrix NFT explained

[Solanart](https://solanart.io/), an NFT marketplace hosted on the [Solana blockchain](/news/article/solana-nft-marketplace), was launched in 2021. The marketplace includes various NFTs created by users, organisations, and celebrities.

The platform maintains its inventory of NFTs available for purchase in an offline database, in contrast to other NFT marketplaces. This helps to secure a large number of NFTs for sale on the platform.

[DappRadar's marketplace statistics](https://dappradar.com/solana/marketplaces/solanart) show that the platform has had over 238k traders and an overall sales volume of over $660 million.

The platform charges zero fees to buy and sell NFTs, which adds to its growing popularity.

## Compatible wallets with Solanart

Solanart is currently only compatible with the Sollet wallet, the Sollet Chrome extension, and Phantom, though it is very likely that other wallets will be supported in the future.

If you have one of these two wallets, connect at the top right, confirm in your wallet, and you can begin buying and selling NFTs and viewing your wallet collection.

## How to buy and sell NFTs on Solanart?

To purchase an NFT, you must first link the [wallet](/news/article/best-ethereum-wallet) to solanart. With the wallet connected, click on the one you are interested in buying. You can then find information such as the address of the NFT owner, and you can view all of the information in the [Solana](/news/article/upcoming-solana-nft-projects) explorer by clicking on the view token.

Finally, if you click, you can see who the last buyer was and when they bought it. To purchase, click on buy and confirm it. Once the transaction is complete, you will see your new NFT in your wallet. And from there, you can list it for sale, which will appear in the My NFT For Sale section.

To sell the NFT you have purchased, click the "Connect Wallet" button in the top right corner. When you click on the "Wallet" tab, you should see the NFTs you can sell.

Click "Sell" and add a description of a maximum of 50 characters. Enter the SOL price at which you want to sell it.

Click "SELL", confirm the transaction in the wallet's pop-up window, and wait a few seconds for the transaction to complete. This way, you'll be able to sell your NFT.

## Solanart market commissions 

The platform charges a 3% market commission on the selling price of each transaction. Additionally, a creator's fee is added to the sale price and is fully paid to the artist. This fee varies depending on the collection. 

There is a 0.02% advertising fee to prevent excessive advertising. Before putting your NFT up for sale, ensure you have enough SOL to pay the listing and transaction fees.

## Bottom line

The top characteristics that set Solanart apart from the rest of the NFT marketplace competition include low transaction charges, a speedy platform, a rapidly expanding collection of NFTs, strict standards, active assistance, and, of course, being powered by the Solana network. These characteristics undoubtedly give NFT creators, buyers, and sellers a competitive edge in their business of digital trading assets. 



Solanart: NFT marketplace explained

According to the latest [NEAR protocol](https://near.org/) news, the [NEAR Foundation](https://near.foundation/), the company behind the blockchain and dApp platform, announced a [new partnership](https://near.org/blog/near-teams-with-google-cloud-to-accelerate-web3-startups/) with Google Cloud. Google Cloud will provide technical support to NEAR grant recipients as part of this collaboration.

![near.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/near_38ae2b5e0e.png)

In this new partnership, Google Cloud will provide the infrastructure for the Remote Procedure Call (RPC) node provider to Pagoda, NEAR's Web3 startup platform, allowing developers to deploy code quickly, securely, and seamlessly.

Carlos Arena, director of digital assets at Google Cloud, said in a statement that their company will provide Near developers a "secure, reliable, and sustainable cloud infrastructure on which they can build and scale" and that the company will continue to support "new products and services on blockchain-based platforms."

## NEAR protocol

[Near protocol](/news/article/near-protocol) is a layer 1one blockchain and dApp platform that works on a [proof-of-stake](/news/article/pos-vs-pow) mechanism. It offers developers a platform to create decentralised applications (DApps).

The platform is proud of its approach to blockchain applications, which is user-friendly, and it has grown significantly in the last year.

The protocol is now used in over 800 projects. The NEAR network now has over 20 million accounts, 200 million transactions to date, and 300,000 to 400,000 transactions per day.

## Pagoda

Pagoda is a startup platform, launched in February 2022. It provides Web3 developers on Near with a full-stack toolset for building, launching, and maintaining their Web3 projects or DApps on the blockchain.

The startup platform enables developers to quickly and easily launch DApps on NEAR through a library of pre-audited templates and automatically generated contract user interfaces.

## Google Cloud is getting into the blockchain

In January, Google Cloud established a new digital assets team to support the development and evolution of the blockchain ecosystem. The digital asset team is dedicated to assisting customers in creating, trading, and launching new products on blockchain-based platforms.

The company inked a similar partnership with Binance's smart contract platform [BNB Chain](/news/article/bnb-chain-security-system) in September, allowing startups building products and services on the BNB Chain to also build on Google Cloud's scalable, secure, and open-source infrastructure.

The company has also recently partnered with Fortress Blockchain Technologies, a Web3 infrastructure company, to launch The Fortress Vault, a new NFT database solution built on Google Cloud's infrastructure.
 



NEAR Protocol news: Partnership with Google Cloud

Olajide Olayinka Williams "JJ Olatunji", better known as KSI, is a British rapper and YouTuber. He began gaining followers in 2009 when he launched his youtube channel and began posting video commentary on the FIFA video game series. 

After 12 years, the 28-year-old artist now has over 37 million subscribers. He's been named to the Sunday Times' Top 100 UK Influencers' and Tubular Labs' 'UK's Most Influential YouTube Creators' lists, and his channels have received over 8.5 billion views.

## KSI NFT investments

KSI has joined the Bored Ape Yacht Club after purchasing a [Bored Ape](/news/article/bored-ape-nft) and kennel club dog.

In his [Twitter post](https://twitter.com/ksi/status/1429770910794403840?lang=en), he tweeted: " I've given in and bought an NFT. A Bored Ape Yacht Club"

![ksi 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ksi_1_c44c15d60e.png)

KSI holds the Bored Ape #2105. The NFT is a five-trait, bored-looking, unshaven mouth, golden brown fur ape dressed in a prison jumpsuit. KSI purchased the NFT for 25.4169 ETH, or about USD 83,875.

The following day, he tweeted: "I've paid over $23000 for a glowing dog."

He also bought glowing dog #2144 from the Bored Ape Kennel Club. BAKC golden dog is a radioactive fur puppy wearing a purple headband and a BAYC life preserver.

![ksi 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ksi_2_c16f5a1460.png)

## KSI crypto investments

The British rapper had a hard time with crypto. He lost around $2.8 million in the [Terra Luna crash](/news/article/terra-usd). The rapper claimed he purchased 100,000 Terra coins when the price dropped and had decided to hold them for a long time. But, with the [Luna crash](/news/article/terra-luna-collapse), he lost almost his entire value of his Luna investment. 

Before this, the rapper also claimed that he lost around 2 million pounds in crypto investments around Nov-Dec 2020, hoping to get good returns.

Crypto is a volatile space. It's always advised to conduct in-depth research before investing in the cryptocurrency market. 




KSI NFT and crypto investments

Ripple has partnered with Thallo to create a blockchain-based carbon credit marketplace.

Climate Collective and Thallo have joined forces to create a Web3-based marketplace that will use the [XRP](/news/article/ripple-price-prediction) Ledger to ensure the immutability of information and increase transparency and efficiency.

![ripplr.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ripplr_0b21900a47.png)

## What is a carbon credit? 

The right to discharge one ton of CO2 or an equivalent amount of other greenhouse gases (tCO2e) into the atmosphere is effectively represented by the term "carbon credit."

The primary goal of establishing these credits is to reduce CO2 and other greenhouse gas emissions from industrial sectors to lessen the consequences of global warming.

Companies that release too much CO2 into the atmosphere have long been compelled to purchase these credits from other businesses that produce energy without releasing harmful carbon emissions into the atmosphere.

## Ripple-Thallo partnership

Thallo hopes to democratise the carbon credit market by enabling direct matching between buyers and sellers.
By facilitating the direct matching between high-quality buyers and sellers, it seeks to address issues with conventional markets, particularly liquidity and price data opacity.

Ripples' XRP Ledger is a decentralised public blockchain already carbon-neutral, and the company's focus is to integrate its protocol as a database tool to expand green energy projects.

In alignment with Ripple's commitment to supporting carbon neutrality in the cryptocurrency industry, Thallo is working to contribute to the market to increase liquidity, scalability, and price accessibility. 

Along with [Ripple](/news/article/xrp-court-case-update), [VenTree Innovations](https://ventreeinnovations.com/), InPlanet, BioFix, and TrendCO2e are the other founding partners of the new platform. The Carbon Business Council and Crypto Climate Accord are signed as the project's integrity partners. [Chainlink](/news/article/chainlink-news), Aklimate, and Celo Foundation are three of the 14 innovation partners of the Thallo.

Climate change issues have been a top concern for leading nations. For the first time in 2021, voluntary carbon credit markets had a total market capitalisation of almost $2 billion and are forecast to rise to $150 billion in the following eight years. Many private businesses and organisations, both large and small, have committed to achieving several notably ambitious climate goals. Carbon credits will be in high demand to support these goals.
 

 
 



Ripple’s partnerships to revolutionise carbon markets

Shawn Corey Carter, better known as Jay Z, is a multi-platinum selling hip hop artist widely regarded as the most influential rapper. He is also considered an extremely successful businessman, having founded several multimillion-dollar corporations, including Rocawear, a clothing firm with more than $700 million in annual sales. He is known for collecting fine art and mentioned artists like Picasso in his songs.

## Jay Z's Cryptopunk Twitter profile picture

[Jay Z's Twitter profile picture](https://twitter.com/sc) has been changed to a CryptoPunk NFT that he bought from OpenSea for $126,000; the punk replicates his iconographic hair. 

![jay z 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_1_b82cdaa19e.png)

Jay Z paid 55 ETH for one of the 10,000 CryptoPunks on April 25. This punk has an African American male wearing a gold chain, a feature that few punks have. His Twitter accounts profile picture changed on June 25.

## Jay Z drops his Reasonable Doubt as NFT.

Jay Z collaborated on creating an NFT with Derrick Adams, a multidisciplinary artist and professor at Brooklyn College. Adams' work takes many forms, including painting, collage, sculpture, performance, video, and sound installations. 

Derrick Adams designed an NFT celebrating Jay Z's debut album 'Reasonable Doubt' on its 25th anniversary. The NFT featured captivating imagery and animated elements and was sold at Sotheby's for $139,000. The physical artwork is also owned by Jay Z. A portion of the profit was donated to The Shawn Carter Foundation.

![jay z 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_2_311b18b9ca.png)

Derrick Adams created the work in his fragmented style. He was able to animate certain aspects of the piece in the NFT version, such as creating a red glow for the cigar Jay Z is holding, making signature diamond jewellery sparkle, and manipulating the smoke from the cigar to transform into the number 25. The piece incorporates many elements from the original 'Reasonable Doubt' album cover. It also adds a unique twist with advanced animations.

Sotheby auctioned off the piece- one of the leading fine art auction houses, from June 29, 2021, to July 3, 2021, bidding starting at $1,000. The auction took place concurrently in the popular blockchain game-Decentraland's Voltaire Art District.

## Jay Z sued Damon Dash

Jay Z co-founded the record label Roc-A-Fella Records (RAF) with Damon Dash, an entrepreneur who has appeared in films and is a successful record executive.

Jay Z sued Damon Dash for attempting to sell the 'Reasonable Doubt' NFT. Damon Dash holds a small portion of the record label, and his lawyers have stated that he lacks the authority to sell a company asset unilaterally.

Damon Dash attempted to sell the NFT by partnering with the NFT marketplace platform SuperFarm. As a result, RAF lawyers advised SuperFarm to cancel the auction. According to the record label, Dash was still looking for alternative marketplaces to sell the NFT.

As of 2022, Damon Dash and Jay Z have decided to settle their legal cases. Dash is not allowed to "in any way dispose of any property interest in 'Reasonable Doubt,'" even though he is still allowed to sell his one-third ownership in Roc-A-Fella in the future.

## Influence of Jay Z in the NFT space

Jay Z is a well-known musician who has founded numerous profitable businesses. He is also regarded as a wise investor. He is one of the few pop culture figures indulging in the crypto industry. As time passes, more influencers, athletes, and musicians are entering the blockchain world.

Jay Z CryptoPunks Twitter profile photo's continued use is probably making many musicians wonder how NFTs can be applied to the music industry.

As an investor, he has made several significant pre-IPO investments, including Uber. More recently, he invested $19 million into Bitski, a platform for buying and selling NFTs through a secure wallet.

Bitski has the potential to be a powerful [NFT marketplace](/news/article/gamestop-nft-marketplace) for musicians and record labels looking to sell albums as NFTs. Bitski is also compatible with blockchain-based games. Other artists and musicians may get influenced by Jay Z NFT investments as he has proved himself to be a successful investor.




Jay Z invests in cryptopunk NFT and Bitski

[Kim Kardashian has been fined $1.26 million](https://www.forbes.com/sites/qai/2022/10/03/kim-kardashian-fined-for-cryptocurrency-promotion-heres-what-it-means-for-crypto/?sh=d7cef2e39356) by the US Securities and Exchange Commission (SEC) for not disclosing that she received payment for an ad about crypto token EthereumMax on her social media accounts.

This might indicate that the SEC plans to impose more restrictions on the cryptocurrency industry.
Unexpectedly, Kim Kardashian was penalised by the SEC for allegedly participating in this cryptocurrency "pump and dump" scheme. 

## Kim Kardashian barred from endorsing cryptocurrencies for three years

This became a legal issue because the Kim Kardashian crypto ad was a planned marketing strategy. One more surprising factor is that the lengthy list of influencers endorsing cryptocurrencies has been condensed.

Since it may cause additional problems for other celebrities who have supported cryptocurrency or wish to do so in the future, this story has attracted much media attention.

The $1.26 million amount accounts for the $250,000 she received for the marketing and interest and a $1 million penalty. She also consented to refrain from promoting cryptocurrency assets for three years while helping with the current inquiry. 

The crypto industry is facing a strong bear market. There is a fear that we could see more legal disputes and litigation in the future, ultimately leading to more blood baths in the crypto space.

## A long list of celebrities has faced similar controversies

[Elon Musk has been sued for $258 billion](/news/article/elon-musk-dogecoin) over allegations that he created a pyramid scheme to market Dogecoin. Also, Floyd Mayweather Jr. and DJ Khaled have been charged with promoting initial coin offerings (ICOs) without letting their followers know they had been paid to do so.

## What does this controversy mean for the Bitcoin and crypto industry?

The SEC released a video advising the public to exercise caution when following investment advice from well-known people and social media influencers.

Other celebrities and influencers could also avoid advertising ICOs due to the Kim Kardashian crypto ad controversy, which could somewhat mean lower exposure to new coins.

However, this news doesn't mean anything to Bitcoin prices and other crypto coins. But we could soon see more [regulations from the SEC](/news/article/us-sec-regulation).


Kim Kardashian Crypto Ad Controversy

With the upcoming [Web3](https://web3.foundation/) in development, the music industry has seen numerous technological advancements that have facilitated the widespread adoption of blockchain and NFTs. Over the past two years, many famous [musicians and artists](/news/article/snoop-dogg-nft-song) have supported and invested in NFTs. 

Web3 tools allow creators to grow an existing audience and turn it into a community. The ability to create communities around token holders has been the most common among the many use cases for nonfungible tokens (NFTs). 

Web3 platforms are still in their infancy. Most users are familiar with cryptocurrency and fundamentally understand how to communicate on-chain. Web3 music platforms have the potential to play a significant role in how labels, artists, and musicians conduct business and promote themselves as the industry matures.
The possibilities offered by this technology enable digital connections between people who share similar interests, eliminating any prior barriers to forming a community.

Music innovation gives up-and-coming musicians the chance to establish themselves and build community in the hyper-competitive niche of the music industry. This might lessen record labels' contribution to an artist's success. Many record labels are participating by shifting some operations onto the blockchain and releasing music NFT collections.

Successful Music NFT drops demonstrate how Web3 can upend the fundraising model by enabling artists to solicit funding directly from fans. The artists who put forth the most effort to interact with their fans and forge close bonds with them will gain the most from Web3.

## Music NFTs plays a critical role in transforming an audience into a community

An audience is someone who follows and supports their favoured musicians and artists, whereas a community is a group that promotes two-way communication between the artist and its fans. 

With digital advancements, artists are now focusing more on a community-driven approach. Blockchain and NFTs allow them to engage directly with their community.

Community activities have a more significant and immediate impact on an artist's growth. Artists have a solid foundation to build a career with the support of a strong community.

Clear communication and increased accessibility of [NFTs](/news/article/compass-nft) are the first steps in achieving this. Artist communities will ultimately be driven by NFTs and the model of content ownership because it forges a much deeper and more exclusive bond between fans and creators.

The artists willing to use every tool to create an active and interactive community around their work will be the most successful in today's market.


Music NFTs vital role in building a fans community

Wardell Stephen Curry II, born March 14, 1988, is an American professional basketball player for the Golden State Warriors in the National Basketball Association (NBA). He is widely regarded as one of the greatest basketball players of all time and the most excellent shooter in NBA history. He is credited with revolutionizing the sport by inspiring teams and players to shoot more three-pointers.

## Stephen Curry bought Bored Ape Yacht Club NFT

Stephen Curry recently paid 55 ETH ($180,000) for a [Bored Ape](/news/article/how-to-buy-monkey-nft) Yacht Club NFT.

His Bored Ape #7990 NFT depicts a blue-fur ape dressed in a brown tweed suit and sporting green zombie eyes. Currently, his (username SC30) Bored Ape is being bid on for 39.61 ETH ($125,700), significantly less than he paid.
 
## Stephen Curry's Partnership with Under Armour

Under Armour, a sportswear company based in the United States, has [announced](https://lab.currybrand.com/currycounter) that they will release NFTs to commemorate every three-point shot made by NBA star Stephen Curry during the current playoffs.

The Stephen Curry NFTs will be given out to fans on a first-come, first-served basis. It will include 'serums,’ kept in digital wallets that allow owners to customize their avatars' appearance.

For every three-pointer Curry makes in a playoff game, the most active Golden State Warriors fans can collect three free digital Basketballs. It will be released under the Curry Brand.

## How can a user get NFTs released by Under Armour?

Before proceeding to the 'Reserve an NF3 Basketball' option, fans must first link their MetaMask wallet to the website. When a Basketball is available for reservation, Steph's fans can click 'Agree to Terms & Conditions and then 'Reserve.'

Users must then scroll down to the 'NF3 Basketball Winners' section to determine whether or not they have successfully reserved a Basketball. After verification, they should scroll down to 'NF3 Counter' and select 'Claim' one hour after the game.

The reserve button will be activated when Curry makes a three-pointer in the Playoffs. Pressing Reserve does not guarantee NF3 Basketball. The first person to click 'Reserve' will secure an [NFT](/news/article/free-nfts), but they must pay the gas fee.
If a user has successfully reserved a Basketball NFT, they cannot book another one until the next game. 

## Stephen Curry 2974 NFT collection

Offered in collaboration with the 2974 Collection, this is a special "Birthday Game" 2974 Collection NFT commemorating Stephen Curry's impressive performance against the New York Knicks on March 14, 2015. Steph's 27th birthday also doubles as an invitation to his exclusive, upcoming birthday celebration, where, among other things, the winner will receive an opportunity to play basketball with the two-time NBA Most Valuable Player.

Curry's historic three-pointer inspired the development of his famous 2974 Collection, which was named one of five finalists in the NFT NYC Awards' Most Impactful for Charity category. It's worth noting that Curry donates 100% of the 2974 Collection NFT profits to charity, specifically his Foundation [eatlearnplay.org](https://www.eatlearnplay.org/).

This historic NFT is a thrilling remembrance of the future Hall of Famer and Golden State Warriors icon, appearing in his sixth NBA Finals since 2014-15.

Exclusive merchandise, game trivia giveaways, autographs, memorabilia, and more are available to all 2974 Collection NFT holders. Curry has also participated in video sessions on the Discord channel for the 2974 Collection.

Stephen Curry's involvement in the [NFT](/news/article/nft-land) market will make other sports professionals dive into this space. This would also encourage many different companies to embrace blockchain technology and launch new NFTs in partnership with other celebrities. 



Stephen Curry NFT involvements

[Compass](https://compass.art/) is a remarkable [NFT](/news/category/nft-news) analytics software that allows customers to acquire extensive data, statistics, and analytics that could then be used to find profitable transactions. It tracks the price movement, trade volume, and other relevant data from all of the NFT projects on the [Ethereum](/coins/eth) blockchain and provides users with insightful data to help them be better traders.

In the current scenario, most traders find valuable listings long after the opportunity passes or buy and sell their NFT holdings without the correct data and solely based on their gut feelings or whatever information they can scrape from Twitter.

## What are the benefits of Compass?

Compass: NFT analytics tool constantly tracks the sales and volume of all the trending units and projects so that you can be a fast mover and never miss the hottest mints. It could also provide an accurate valuation of the portfolios to analyse which were the best trades and be quickly alerted in real-time when a whale makes a purchase or a collection goes above or below a specific price. You can also follow the whales and purchase super rare NFTs with the help of rarity rankings to access the undervalued gems before anyone else.

## How do you track whales with Compass?

Whales are the individuals or entities with extensive digital asset holdings and have the most significant influence over market change. These are high-net-worth individuals who have enormous holdings in any [NFT projects](/news/category/nft-news).

Your Compass account allows you to follow your selected influencers, friends, and the biggest whales. The Compass NFT tool will also inform you about bogus mints, which will improve the effectiveness of your trading strategies.

You can now operate concurrently with whales by following the "smart money" by making trades as soon as addresses with large market capitalisations book orders, increasing your chances of being a successful trader.
 



Compass NFT analytics tool explained

Although NFTs have existed for five years, the nonfungible token boom didn't start until 2021. It happened at the same time as the debut of the [Bored Ape Yacht Club](https://boredapeyachtclub.com/#/), a collection of 10,000 Lazy Ape NFTs featuring cartoon monkeys that have come to represent the entire industry. The past year has seen BAYC develop into a bellwether for NFTs, much like bitcoin is for the overall crypto market.

## What are Lazy Monkey NFTs?

Yuga Labs' Lazy Ape is an NFT collection built on the Ethereum (ETH) blockchain. Each NFT is known as an Ape.

These digital artworks depict bored simians. They all have a similar appearance and feel, but each monkey has a unique combination of facial expressions, accessories, and outfits, so no two are alike.

This combination of features—or the relative rarity of each variety—could be the driving force behind the Lazy Apes' popularity. "Rarity" is a formal measure of each Ape's uniqueness in the BAYC community.

## What makes Lazy Monkey NFTs so expensive?

1. Utility
Lazy Ape is valuable not only because it serves as a digital identity but also because it comes with commercial usage rights. Lazy monkey NFT owners can not only resell the NFT for a profit but also sell spinoff products based on the art.

One Bored Ape owner created a Twitter account for his Ape and created an entire backstory in which the Ape is Jenkins, a valet at the Yacht Club. Jenkins is personable, crypto-savvy, and tells incredible stories—the ideal combination for a successful Twitter account.
Jenkins' story is enhanced by the fact that he was the cheapest Ape in the collection, which influenced his character as a valet. People are drawn to the classic "underdog rise" story on a basic level.

 2. Limited supply
Basic economics: because there are only 10,000 Bored Apes, the supply of NFT art is quite limited. With the brand's massive popularity, we have a high-demand/low-supply dynamic that will inevitably drive prices up.

Furthermore, some Bored Ape avatars in the same collection are rarer than others. Each monkey is a unique, randomly generated combination of 170 characteristics such as background colour, earrings, expression, headwear, clothing, etc. This derived scarcity also contributes to some Bored Apes' high prices.

3. Celebrity Support
Celebrities nowadays are showing immense interest and support for Lazy Apes. BAYC NFT is owned by Jimmy Fallon, Post Malone, Mark Cuban, Paris Hilton, Stephen Curry, [Snoop Dogg, Eminem](/news/article/snoop-dogg-nft-song), and Shaquille O'Neal. It's also common knowledge that involving celebrities in anything can increase interest—and prices.

Because of the significant celebrity involvement, [Bored Apes](/news/article/how-to-buy-monkey-nft) have become a status symbol — similar to a digital Veblen good — the higher the price, the more people want 
one.

 4. Unique content
BAYC provides Lazy Ape holders with exclusive content benefits, some of which are detailed in the roadmap on the BAYC website. The roadmap is a to-do list that the founders intend to cross off when they reach their sales percentage targets.

5. Early entry to the NFT world
[While Bored Apes NFT](/news/article/bored-ape-nft) is not the first among NFT collections, they are one of the few available. Not to overlook the novelty, but it does contribute to the movement's success. For example, CryptoPunks are valuable because they are the first NFT collection.

 BAYC acquired Cryptopunks in early March 2022, significantly reducing competition and establishing their position as forerunners of the NFT-community movement. BAYC intends to grant CryptoPunks owners intellectual property and commercialization rights, as they have with Bored Ape owners. This will inevitably increase demand, resulting in a price increase.



Why are lazy monkey NFTs so expensive?

[Pantera Capital's](https://panteracapital.com/press/) founder and CEO, Dan Morehead, said the hedge fund intended to raise $1.25 billion for a second blockchain fund.

Morehead [said at a Singapore conference](https://www.bloomberg.com/news/articles/2022-09-28/pantera-capital-s-morehead-seeks-1-25-billion-for-blockchain-fund#xj4y7vzkg) on Wednesday that the company's goal is to close the blockchain fund by May. According to reports, the fund will invest in digital tokens and equity to draw institutional investors.

 ![pantera.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/pantera_60f4e2d7bc.png)

Additionally, the CEO mentioned that he wants to purchase more shares of some of the businesses in which Pantera has already invested but whose valuations have declined. This includes companies like [FTX](/news/article/what-is-ftx), Anchorage Digital, Amber Group, Coinbase, and Flashbots.

The fund's goal is to support investors in cryptocurrencies who might be beginning to lose hope due to price declines in 2022, which have been further impacted by the general decline in global financial markets.

The Pantera CEO said, 
"We want to provide liquidity for people that are kind of giving up because we're still very bullish for the next 10 or 20 years."

"Unfortunately, crypto pricing has become correlated with risk assets, which I don't think has to be true. I hope that soon crypto will decouple from the macro markets."

## Pantera Capital investment funds

The investment firm has grown to be one of the most active in the crypto space since its launch in 2013, with currently $4.5 billion in assets under management.

There are currently five funds available: venture, Bitcoin, early-stage token, liquid token, and blockchain funds.

The first blockchain fund launched in 2021 to raise $600 million. The firm announced in January 2022 that it had secured more than $1 billion in commitments. This active investment invests in a mix of venture equity, early-stage tokens, and liquid tokens.

Morehead claims that the firm's second fund will invest in equity and digital tokens. Pantera anticipates that investments will be closed in May 2023.

pantera capital logo blockchain fund on bitcoin

Pantera Capital set to raise $1.25B blockchain fund

NFTs are quickly becoming one of the most in-demand and innovative forms of digital asset ownership. The Moonboys NFT has recently gained a lot of attention. This blog will discuss what makes these particular NFTs unique.

## What is the Moonboys NFT?

Moonboys NFTs are built on the Ethereum Blockchain with a total supply of 11,111 ERC-721 tokens. Each token is distinctive and 3D designed, including great utilities and full membership to a growing community.

These are the most in-demand and innovative NFTs you can find on the Ethereum blockchain. With its 3D-designed graphics and full membership, it is one of the most sought-after tokens in the crypto world.

## How can you buy Moonboys?

If you're interested in getting your hands on a Moonboys NFT, you'll need to head to the [OpenSea](/news/tag/opensea/2) website. You need to know that there is a 5% creator fee. The total sales volume has been around 1.5K Ethereum tokens with 33% unique owners. 

Currently, 11.110 are stored in 3383 different wallets. The largest whale holds 344 Moonboys (approximately 3% of the available supply).
What are some community utilities that come with owning a Moonboys NFT?

When you buy these NFTs, you're not just getting a unique collectable item. You're also joining a community of fans with access to great utilities.

For starters, each [NFT](/news/category/nft-news) holder has a full membership to the official community and channels. Also, there is a special business club provision for the holders. The Business Club offers physical and online conferences for participants who wish to expand their connections and improve their Web3 expertise. You'll find everything from the latest news and updates to fan artwork and discussions.

You will receive a membership to a selected community as soon as you become a holder. Top participants in the [NFT](/news/article/free-nfts) and crypto worlds are present in the community. Being a member of this club gives you access to live events and the chance to interact virtually with influential people.

The official website is also the place to go for all your needs. Here you can buy merch which is coming real soon and more. Also, the NFT creators announced that a contest amongst interested participants would be held to win a ticket for a commercial flight aboard Blue Origin in 2024.

Additionally, owners may stake or burn their Moonboys. They will get $DARK as a result, which they may use to modify their NFTs. Given that this will make users' NFTs more distinctive and the platform is set to attract collaborations from famous NFT musicians, an increase in the value of Moonboys is forecasted.

## Bottom line

When it comes to Moonboys, they appear to be a promising community with a solid roadmap. These innovative NFTs are in high demand, and with good reason. They're unique and come with a ton of membership perks and utilities.

Owning one is a great way to be a part of an ever-growing community and enjoy fantastic bonuses and features.




Moonboys NFT: The NFT with an exciting roadmap

Digital bank [Revolut](https://www.revolut.com/), fintech unicorn based in London, has been granted permission to provide cryptocurrency services in the UK after passing the FCA's (Financial Conduct Authority) requirements for anti-money laundering.

The $33 billion valued digital bank Revoult was added to the [crypto asset firm register](https://register.fca.org.uk/s/search?predefined=CA) of the UK financial watchdog on September 26. 

Revolut had been attempting to get listed on the FCA's register since January 2021. The company has been operating as an authorised electronic money institution since May 2018.

The firm had previously offered cryptocurrency buying, selling, and trading to UK customers under the FCA's Temporary Registration Regime (TRR), which was designed to allow businesses to continue operating while their applications were being reviewed.

When the approval deadline passed at the end of March this year, the FCA allowed a limited number of companies to remain on the TRR. Revolut was one of five companies listed on TRR, alongside CEX.I0, Copper Technologies, GlobalBlock, and Moneybrain. None of the other four firms were later approved.

With the addition of the Revolut bank to the UK’s crypto asset firm register, there are now 38 companies authorised to provide custodial and exchange services for crypto assets.

## Other firms to win FCA crypto regulation

The [FCA](/news/article/ftx-uk-ban) was designated as the UK's anti-money laundering and counter-terrorism financing authority at the beginning of 2020. Since then, any firm wishing to engage in crypto activity in the UK has been required to register with the organisation under the Money Laundering, Terrorist Financing, and Transfer of Funds (Information on the Payer) Regulations 2017.

[Gemini](/news/article/gemini-crypto-exchange), [Kraken](/news/article/kraken-ceo), eToro, and Archax are among the other firms that have met the FCA's anti-money laundering and counter-terrorist financing (AML/CFT) standards.

Crypto exchange, crypto.com was the most recent addition, joining the list in August.

Currently, 38 of 248 crypto firms seeking registration have met the FCA's standards and have been granted permission to operate in the UK.





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