How Much Is Your Love Worth? Polish Influencer Sells “Love” As NFT

How Much Is Your Love Worth? Polish Influencer Sells “Love” As NFT

6:33pm, 30th July, 2021
NFTs are becoming the next big thing in the crypto market as more investors get on board with projects surrounding them. Non-fungible tokens like the “Stoner Cats” NFTs was released with huge success in their communities. Non-fungible tokens which mostly revolved around art when they were first released has now expanded into a wider domain. Increasing support for NFTs has shone through with e-commerce giant Shopify adding merchant support for non-fungible tokens. And most recently, Coca-Cola partnering up with Tafi to launch its very first collection of non-fungible tokens. The non-fungible tokens include files like images, audio, and video. Related Reading | Are NFTs Dead? New Game Changing Trends Now comes one of the most interesting uses of none-fungible tokens so far and that is 26-year-old Polish influencer Marta Rentel announcing she has sold her love online as an NFT. The NFT sold for $250,000 and the lucky buyer gets to go on a date with the influencer. Selling “Digital Love” Talking about the sale, Rental explained that she wasn’t selling her physical love. But was rather selling the love of her online persona. “Nothing on the Internet is physical,” Rental said. “It’s part of my online persona.” The 26-year-old Polish influencer boasts over 600,000 followers on Instagram and goes by the name of Marti Renti online. The influencer explained that she wanted to be the first person in the world to tokenize emotions. Related Reading | TABOO Set to Launch First-Ever NFT Collectibles for Supermodels This remains a novel idea, as one would scratch their head trying to figure out exactly how they would tokenize emotions. But Rentel believes that love can be separated into physical love, platonic love, and most importantly, digital love. With each one being just as real as the other. Rentel confirmed the sale of the NFT but added that she did not know who had bought it either. The identity of the buyer seems will remain unknown until the date with the influencer. NFTs As A Store Of Value NFTs are gaining more support given what they represent. With this, people can show that they undisputedly own a piece of artwork or anything else being sold as a non-fungible token. Information about the work and the owner is written directly to the blockchain where everyone can see who the owner of the piece is. This has been especially popular amongst artists as this provides them a way to directly sell their art. And also helps to combat people using their work without properly paying or licensing it. Related Reading | Banksy’s Infamous ‘Spike’ Artwork Becomes an NFT The information on the blockchain is impossible to edit or remove. So every and all record regarding a sale is put on the blockchain, which basically acts as a digital ledger for the sale. Marta Rentel does not stop at selling her “love” as an NFT. The influencer plans to continue to sell her Instagram photos and YouTube videos as non-fungible tokens. Featured image from Kindpng
Commercial Paper Reserves Of Tether Under Heavy Regulatory Scrutiny

Commercial Paper Reserves Of Tether Under Heavy Regulatory Scrutiny

5:53am, 31st July, 2021
Tether has been facing a lot of pressure from regulatory authorities. Now, the attention of the watchdogs has shifted to its commercial paper reserve. As a result, this week has been very hot for the company. The regulators focus their attention on what makes up the Tether reserves. Related Reading | Cardano Aims To Facilitate Users With Smart Contracts A report disclosed that Tether’s Michael Hsu said that the US regulators focus their attention on the paper to know if every Tether Token is actually backed by $1 as the company claims. US Regulators Scrutinize Tether From what we learned, the regulators investigating Tether are led by Janet Yellen, the US Treasury Secretary. Before now, Yellen has held some meetings about the possible risks of stablecoins. Now, the ” President’s Working Group on Financial Market” aims to know if Tether really holds large amounts of commercial papers as it claims. Commercial papers usually represent debt instruments that companies issue to investors for short-term funds. However, the Working Group does not believe the claims as it compares it to a mutual fund that can lose its investors in one day. Presently, the total USDT in circulation is 62 billion. So, there seems to be a legitimate cause for alarm. The crypto market is back in the bullish mode as BTC climbs above the $40k mark | Source: Crypto Total Market Cap on TradingView.com Last two months, Tether had revealed the composition of its total reserves. According to the stablecoin, it had more instruments that were not just cash or cash equivalents, such as bonds, secured loans, bitcoin, and a larger portion comprising of commercial papers. Related Reading | Tether To Conduct An Audit To Negate Claims Concerning Transparency While talking with sources, Stuart Hoegner, the Tether general counsel, revealed that the company is planning a thorough audit in some months to come. Let’s recall that Tether hasn’t carried out such audits before now, and the announcement helped a lot of investors to breathe easier. However, on July 19, Yellen was heard asking lawmakers to establish rules that will guide stablecoins in the financial market. More Calls on Crypto regulations After calling for regulations on stablecoins, Yellen received a letter nine days later from Senator Elizabeth Warren asking her to push for greater regulation for the cryptocurrency industry as a whole. During a hearing of the “Senate Banking Committee,” Warren also stated her negative position about the crypto industry. According to her, it was better to hand over the financial systems to giants banks than some nameless and faceless, shadowy miners and super-coders. Related Reading | Anthony Di Lorio To Leave Cryptocurrency Space For Philanthropic Initiatives However, during the hearing, an Anderson Kill Law partner, Preston Byrne, stated that the most frightening of all is that Elizabeth Warren is in control of the financial system. Elizabeth is a democrat who has been serving as a United States Senator since 2013. Featured image from Pixabay, chart from TradingView.com
Commercial Paper Reserves Of Tether Under Heavy Regulatory Scrutiny

Commercial Paper Reserves Of Tether Under Heavy Regulatory Scrutiny

5:53am, 31st July, 2021
Tether has been facing a lot of pressure from regulatory authorities. Now, the attention of the watchdogs has shifted to its commercial paper reserve. As a result, this week has been very hot for the company. The regulators focus their attention on what makes up the Tether reserves. Related Reading | Cardano Aims To Facilitate Users With Smart Contracts A report disclosed that Tether’s Michael Hsu said that the US regulators focus their attention on the paper to know if every Tether Token is actually backed by $1 as the company claims. US Regulators Scrutinize Tether From what we learned, the regulators investigating Tether are led by Janet Yellen, the US Treasury Secretary. Before now, Yellen has held some meetings about the possible risks of stablecoins. Now, the ” President’s Working Group on Financial Market” aims to know if Tether really holds large amounts of commercial papers as it claims. Commercial papers usually represent debt instruments that companies issue to investors for short-term funds. However, the Working Group does not believe the claims as it compares it to a mutual fund that can lose its investors in one day. Presently, the total USDT in circulation is 62 billion. So, there seems to be a legitimate cause for alarm. The crypto market is back in the bullish mode as BTC climbs above the $40k mark | Source: Crypto Total Market Cap on TradingView.com Last two months, Tether had revealed the composition of its total reserves. According to the stablecoin, it had more instruments that were not just cash or cash equivalents, such as bonds, secured loans, bitcoin, and a larger portion comprising of commercial papers. Related Reading | Tether To Conduct An Audit To Negate Claims Concerning Transparency While talking with sources, Stuart Hoegner, the Tether general counsel, revealed that the company is planning a thorough audit in some months to come. Let’s recall that Tether hasn’t carried out such audits before now, and the announcement helped a lot of investors to breathe easier. However, on July 19, Yellen was heard asking lawmakers to establish rules that will guide stablecoins in the financial market. More Calls on Crypto regulations After calling for regulations on stablecoins, Yellen received a letter nine days later from Senator Elizabeth Warren asking her to push for greater regulation for the cryptocurrency industry as a whole. During a hearing of the “Senate Banking Committee,” Warren also stated her negative position about the crypto industry. According to her, it was better to hand over the financial systems to giants banks than some nameless and faceless, shadowy miners and super-coders. Related Reading | Anthony Di Lorio To Leave Cryptocurrency Space For Philanthropic Initiatives However, during the hearing, an Anderson Kill Law partner, Preston Byrne, stated that the most frightening of all is that Elizabeth Warren is in control of the financial system. Elizabeth is a democrat who has been serving as a United States Senator since 2013. Featured image from Pixabay, chart from TradingView.com
Andreescu ends Townsend's run to reach U.S. Open quarters

Andreescu ends Townsend's run to reach U.S. Open quarters

5:03am, 3rd September, 2019
Canadian teenager Bianca Andreescu battled past a tenacious Taylor Townsend 6-1 4-6 6-2 in a late night thriller at the U.S. Open on Monday to reach her first grand slam quarter-final and end the American's fairytale run at Flushing Meadows.