The world of cryptocurrency is bustling with activity, undeterred by the festive melodies of December’s Jingle Bells. Our team at SOFTSWISS has handpicked the most intriguing crypto news to keep you in the loop.
Digital Art Sales Soar to USD 35 Million This Year
Sotheby’s Vice President and Head of Digital Art, Michael Buchanan, reported a remarkable year in digital art sales, with total purchases by users reaching a staggering USD 35 million.
The standout among them was the record-breaking NFT Ringers #879 (The Goose) sale by artist Dmitry Chernyak, which fetched USD 6.2 million. The year also saw the launch of a secondary on-chain marketplace offering royalties to NFT creators, a groundbreaking live auction that drew over 300 attendees and generated USD 12 million, and more than 25 digital art auctions.
Additionally, the successful NFT collection ‘Themes and Variations’ by 99-year-old artist Vera Molnar and generative artist Martin Grasser quickly sold 500 tokens, grossing around USD 1.2 million, in an event hosted on the Sotheby’s Metaverse platform.
Google Opens Doors to Cryptocurrency ETF Advertising
In a significant shift, Google has thawed its stance towards the cryptocurrency industry. The tech giant has revised its advertising policy to soon allow the promotion of cryptocurrency ETFs and other investment products targeting the US market. However, Google maintains its right to block accounts that fail to adhere to the legal requirements of the advertising regions.
This update marks a notable change from the total ban on cryptocurrency-related ads imposed in March 2018. Google has been gradually easing its restrictions, having allowed cryptocurrency exchanges and digital wallets to be advertised to US users since August 2021. The new rules regarding cryptocurrency ETF advertising will come into effect on 29 January 2024.
Reebok to Launch NFTs in Collaboration with Futureverse
Reebok is venturing into the metaverse with a strategic partnership with cryptocurrency startup Futureverse to launch NFTs. The project leverages artificial intelligence and blockchain technology to revolutionise fashion in the digital world. This initiative goes beyond just offering digital versions of Reebok models; it seeks to provide an immersive gaming experience that enhances the value of the sneakers, focusing on the experiences they enable rather than the product itself. Reebok follows in the footsteps of industry giants like Nike, which pioneered virtual offerings with exclusive collections of physical sneakers paired with digital twins, a trend now seen in Adidas, Dior, and Puma collections.
Limited Availability of Blockchain Smartphones Triggers Demand Surge
Solana’s team faced an unexpected challenge with the Saga blockchain smartphones, having to cancel several orders due to supply shortages from external distributors triggered by a spike in demand. Despite this, 20,000 devices were sold in the US and EU markets.
The unique feature of these smartphones is their integration of Web3 functionalities, serving as a wallet and including a month’s free access to the Helium network, bonuses in the Honeyland game, access to the Genopets project, and NFTs. The recent offer of 30 million BONK meme-token coins with each purchase has skyrocketed the phone’s popularity, pushing its eBay price to USD 5,500, up from less than USD 3,000 just weeks ago.