NFTs Will Not Be Regulated in South Korea — FSC
Nonfungible tokens (NFTs) are not classified as virtual assets by the Financial Services Commission (FSC) of South Korea, and hence will not be regulated. \ Following an assessment of the Financial Action Task Force’s new standards, the FSC decided not to regulate NFTs (FATF). According to the FATF’s Oct. 28 advice report, NFTs or other […]
BTS, the Korean pop sensation to release band NFTs and video games
BTS, a Korean boy band, has announced plans to release its own NFTs. Given the nature of the place, it’s not surprising that artists and celebrities have entered the NFT universe. NFTs provide authors full ownership of their work, and everyone who buys it has verifiable data on the blockchain that proves they are the […]
The Sandbox, an Ethereum NFT Metaverse Game raises $93 million
Users may own, edit, and monetize land plot NFTs in a shared online environment in the future Ethereum-based metaverse game. Following Facebook’s increased push into the space—including renaming its parent company as “Meta “—and rising value for metaverse-related crypto tokens, excitement over the approaching metaverse may be at an all-time high. One of the most […]
Updated FATF Guidelines on Crypto, Defi, and NFTs are now available
The Financial Action Task Force (FATF), a worldwide anti-money laundering watchdog, has modified its crypto market standards. The final recommendations improve on the draft guidelines provided earlier and provide additional clarity. The guidelines place a particular emphasis on how authorities should approach new markets like NFT and Defi. “Countries should not apply their definition based […]
Data reveals that SuperRare customers buy more costly NFTs while having fewer buyers
According to Dune Analytics, NFT marketplace SuperRare has achieved a new monthly record for a total sales volume of $31.4 million with a week to spare till the end of October. SuperRare is a one-of-a-kind Ethereum (ETH) NFT marketplace where collectors may buy a blockchain deed of ownership for digital things including memes, films, and […]