3 Reasons Why Crypto Experts Should Do Business in UAE - cyptoranking.com

2024-05-05

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Source: anotherblock.ioAndreas Schuller, known by his producer name Axident, has just started the sale of non-fungible tokens (NFTs) that give their owners a percentage of future streaming royalties to Justin Bieber’s song 'Company'. To transform Bieber's fans "from passive listeners to empowered music stakeholders," the Norwegian music producer has partnered with blockchain-based music rights platform AnotherBlock. Axident plans to sell a 1% portion of the streaming royalty rights to Bieber's famous song via 2,000 ERC-721 tokens.In the first 2 minutes, 353 NFTs have already been minted. According to the website, for a price of ETH 0.017, "every token represents a 0.0005% ownership of the music streaming rights." This includes streaming proceeds from major digital service providers like Apple Music and Spotify.Royalties are usually due every six months, but AnotherBlock told users to "stay tuned for some major updates here."Per the FAQ, "the collector will receive royalties as long as the copyright protection for the song remains in effect within the jurisdiction of the country," which in the EU is until the seventieth year after the recording was first made public.The ownership percentage for each song is stored on Ethereum, while all assets are uploaded to IFPS storage and connected to each NFT, AnotherBlock said.The tokens can be purchased with crypto or a credit card through paper.xyz.The website also noted that US citizens cannot access minting and royalty claims due to regulatory uncertainty in that country. Bieber is not new to the NFT space. The celebrity joined Bored Ape Yacht Club (BAYC) by (in)famously purchasing Ape #3001 for ETH 500 in January 2022, worth $1.3 million at the time. Its value dropped by $1.2 million by July 2023. However, the artist is not involved in the sale of Axident’s share of the 'Company' streaming royalty rights.AnotherBlock, meanwhile, previously sold streaming royalty rights to other artists' songs, including the megapopular Rhianna's 'Bitch Better Have My Money' in February this year. 300 NFTs were minted and sold.'Company', released in 2015 for Bieber's fourth studio album 'Purpose', now has 677 million views on YouTube, with 5.3 million likes. It is the 11th most popular video on the artist's channel. Axident is a Grammy-nominated producer, songwriter, and publisher who worked with big names in the music industry, including Pitbull and Jason Derulo. "AXIDENT's signature sound has proven to transcend borders around the globe and his catalog has been certified gold & platinum over 60 times, reaching nearly half of the world's population on youtube alone," AnotherBlock said.____Learn more:- K-Pop Superstars Blackpink Launch Metaverse Experience in Roblox – Is The Metaverse Making a Comeback?- EVENTZ Concert App Introduces Blockchain Rewards to Harry Styles' Fans- Spotify's Latest Experiment: Playlists Unlocked by NFT Holders – The Future of Music Streaming?- OpenSea Announces Partnership with Warner Music GroupConvicted Ex-OpenSea Manager Chooses to Serve Jail Time Amid Pending Appeal Q4 Developments: Floki core team member B outlined upcoming developments for Q4, including the launch of Valhalla metaverse mainnet, staking, upgrades for the FlokiFi Locker, and the introduction of a mysterious protocol named Project TL. 3 Reasons Why Crypto Experts Should Do Business in UAEImage by Gage SkidmoreThe U.S. House Financial Services Committee is currently a battleground for discussions concerning the possible launch of a Central Bank Digital Currency (CBDC) by the Federal Reserve. Today, Maxine Waters, a Democratic representative from California, sharply criticized a bill reintroduced by Republican Rep. Tom Emmer of Minnesota. The bill is looking to prevent the Federal Reserve from creating a CBDC.The Ongoing Debate on Crypto Adoption in the U.S. GovernmentLast week, Republican Rep. Tom Emmer of Minnesota rolled out the "CBDC Anti-Surveillance State Act," also known as HR 5403. According to a statement from Emmer, this bill, which is supported by 50 Republican co-sponsors, would prevent the Federal Reserve from directly issuing a CBDC to individuals. Additionally, it would stop the Fed from indirectly making a CBDC available through a third party.Waters, who has served as a former chair of the Committee, voiced concerns that the bill's partisan nature could hamper technological advancements in finance and put the U.S. at a disadvantage globally."Unfortunately, Republicans are marking up one bill that is not bipartisan. It will keep the United States behind other countries, including China, as they race forward to develop a global standard for central bank digital currencies," she warned. "At this point, nobody fully understands the potential benefits and challenges of CBDCs, or how their implementation could affect the preeminence of the U.S dollar and global finance more broadly. That is why the Biden Administration and the Federal Reserve are researching this."Crypto Regulation and Its Possible Impact on U.S. Global StandingWaters further argued that the bill put forth by the Republicans could slow down ongoing research efforts, which in turn could affect the country's ability to keep up with financial technological changes. "The Republican bill before us today would stifle that research and prevent us from moving forward even if it means that the dollar loses its status as the world’s reserve currency," she said. "And even if it means that U.S. citizens lose out on faster, cheaper, and simpler payments."This presents a concern for the U.S., as it may lose the opportunity to set global standards in what could be a major financial development.Maxine Waters and the Committee's Work on US Crypto and Other Financial MattersBefore concluding her remarks, Waters expressed disappointment in what she saw as a lack of willingness to innovate on the part of Republicans. "I am disappointed that Republicans have taken such a deeply anti-innovation stance," she commented.Despite disagreements, Waters acknowledged that the Committee's recent meeting was largely productive. She highlighted the Committee's progress in reaching a consensus on various matters, including U.S. banks reducing risks in their dealings with the Caribbean and other regions, compliance with sanctions concerning Russia and Belarus, and the imposition of sanctions on foreign companies that facilitate spyware targeting U.S. national security personnel.Other Legislative Efforts and Positions on CBDC in the U.S.Another bill up for discussion on today targets a more bipartisan approach. Known as the "Power to Mint Act," H.R. 3402 is sponsored by Democratic Rep. Jake Auchincloss of Massachusetts and Republican Rep. French Hill of Arkansas. The bill would mandate that the Federal Reserve seek approval from Congress before moving ahead with the issuance of a CBDC.It's not just in Congress where opinions on CBDCs are strong. Florida Governor Ron DeSantis, who is also a presidential candidate, signed a bill in May that prohibits the use of a federal CBDC in Florida. Another presidential hopeful, Vivek Ramaswamy, has likewise expressed firm views against CBDCs.While discussions are ongoing, the potential introduction of a CBDC by the Federal Reserve evidently has both supporters and detractors within the U.S. House Financial Services Committee. The implications for the U.S. in terms of global financial technology advancements and crypto regulation remain important topics that lawmakers will have to continue to grapple with.Hong Kong Steps Up Crypto Regulation with Warnings to Imitation Banks – Here's What You Need to Know I think we [the Web3 industry] have that ahead of us for the next few years. Things move really fast in our ecosystem and there will be many astonishing new waves of innovation. But I don’t think we’re going to see any more crazy irrational exuberance in the short-term. Not unless the U.S. Securities and Exchange Commission (SEC) decides to green light a bunch of Bitcoin and Ethereum exchange traded funds (ETF) right at the same time.

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From a technical standpoint, Ethereum has marked important price levels to watch. Strong support lies at $1,498.81, with resistance hovering around the $1,666.23 mark. While the token has impressed with a 22% growth over the past year, outperforming 84% of the top 100 crypto assets, its recent performance raises eyebrows. Out of the last 30 days, only 16 have been in the green, at 53%, and is currently trading at $1,589. However, the candlestick still failed to cause a breakout above the $0.55 resistance area. How to Invest in Ethereum-A Complete Beginner's GuideRead More: 9 Best AI Crypto Trading Bots to Maximize Your Profits However, the Australian Securities Exchange (ASX) last year halted its blockchain system development, which was aimed at modernizing its outdated settlement layer, after three years of effort.

On the other hand, Solana witnessed a rapid surge in inflows, achieving its highest levels since March 2022. It recorded weekly inflows of $24 million, solidifying its position as the “altcoin of choice.” Price How to Buy Ethereum (ETH)Cosmos (ATOM) The rat also alluded to Warren Buffet, who called crypto “rat poison squared” at the time. That was the first crypto winter, where Bitcoin famously fell from $20,000 to $6,000 at the hands of SEC uncertainty and waning faith in the tech.

The NFTs cost $20 apiece and went up for sale on Oct. 5, and will be available until Oct. 9. Holo (HOT) Approaches End of Bullish Pattern Centralized Crypto Exchanges Examined-GeminiThe platform also offers customization options for Aavegotchis, allowing players to equip them with different wearables. Base TVL increased by 24.73%. Source: L2BEAT

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