The cryptocurrency market has entered into a slight correction after Bitcoin (BTC) surged to $42,000, from $37,000 in the last two days. While preparing this document, Bitcoin was trading at $40,833, down 0.80% in the last 24 hours. Ether (ETH) had lost 1.70% to trade at $2,662. XRP was trading at $0.7597, up 1.40% in the past 24 hours.
Major altcoins, which have gained ground in the last 24 hours, include Terra (LUNA- $96.91, 3.50%), IOTA (IOTA-$0.7475, 1.80%), Stellar (XLM-$0.1878, 5.20%) and Bitcoin Cash (BCH, $300.98, 0.60%).
Major altcoins, which have lost ground in the last 24 hours, include Cosmos (ATOM, $29.11, -3.10%), Shiba Inu (SHIB- $0.00002320, -3.10%), Polygon (MATIC- $1.47, -3.50%), EOS (EOS-$2.04, -1.30%), VeChain (VET, $0.0471, -4.10%), Avalanche (Avax- $75.49, -5.50%), ChainLink (LINK-$13.70, -1.20%), Uniswap (UNI, $8.99, -4.4%), Polkadot (DOT, $17.35, -2.30%), Binance Coin (BNB- $386.74, -3.70%), Cardano (ADA, $0.8259, -1.6%), Dogecoin (DOGE, $0.1189, -2.20%), Near (NEAR- $11.40, 9%), Tezos (XTZ-3.12, -0.10%), Internet Computer (ICP, $16.88, -4.10%) and Solana (SOL, $85.33, -3.40%).
Private sector initiatives
Nomura establishing a digital company
Japan’s largest securities company Nomura has stated that it would establish a digital company by the first day of next month. Notably, the firm is not going to be a totally new setup. Three years ago, Nomura had established the Future Innovation Company, which will be converted into a new startup by increasing the employee count by 20%.
The objective of the startup firm is vast, but details were given only about digital assets.
The media release of Nomura reads as follows: Digital assets, including cryptos, non-fungible tokens, and security tokens, are seeing an increasing level of adoption as a new asset category. The innovations developed using the combo of distributed ledger and conventional finance has paved the way for the creation of a new range of facilities. By clicking on those, Nomura intends to strengthen its private markets-focused business, while achieving sustainability and decarbonization.
Billboard partners with Universal Music Group to release NFT series
Iconic music media brand Billboard has joined hands with Universal Music Group to release a non-fungible token (NFT) series, dubbed ChartStars. The NFTs will be based on the Billboard Charts.
Artist-specific digital works, including graphics and authorized visual content, will be included in ChartStars to honor the greatest moments and Billboard Chart records, like the number of days an artist lasted topped the rankings. Furthermore, the platform will include game-related features offered via collector ranking list, tasks, and the opportunity to get rewarded in the form of entry to Billboard live shows. The digital products are anticipated to be unveiled in May.
The NFT offering will utilize the Flow blockchain, and Billboard has collaborated with the Unblocked platform, which is supported by Dapper Labs, for technical and blockchain-related features of the venture.
Unblocked’s platform will facilitate consumers to buy the NFTs with a credit card.
A large portion of the population that loves pop music but has stayed away from cryptos could be exposed to the project due to the intellectual property (IP) rights of Universal and relationships in the music sector.
Schwab Strategic Trust submits SEC prospectus
With the intention of launching a crypto-focused fund, the Schwab Strategic Trust has submitted an SEC prospectus. The launch of Schwab Crypto Economy ETF, combined with the Charles Schwab brand, would be perceived as another key initiative in the crypto sector by a mainstream company.
Furthermore, Schwab intends to establish the Schwab Crypto Economy Index, and the ETF would be based on it. The index will be composed of stocks listed in the crypto industry, including exchanges, firms involved in crypto mining or staking, and building apps utilizing blockchain or crypto. This seems to be the first such ETF by a mainstream company.
Other major companies in retail investment, Fidelity, for example, have been involved in the crypto industry for the last few years. However, none of them are involved in ETFs.
dClimate partners with the University of Namibia
Blockchain startup dClimate has entered into collaboration with the University of Namibia to assess the green emission reduction initiatives. In particular, the climate data entity will assist in quantifying the capture, emissions, and carbon credits accumulated through green hydrogen projects.
The blockchain venture is supported by American tech billionaire Mark Cuban in the form of investments and strategic advice through his firm Radical Investments.
dClimate intends to utilize its technology to generate cash and also quantify the green hydrogen output of Namibia. This follows the announcement of a $9.40 billion venture intending to generate 300,000 tons of hydrogen fuel. Using dClimate’s blockchain-powered registry, the growth of the green hydrogen sector will enable Namibia to considerably avoid the use of fossil fuels.
Commenting on the data, Sid Jha, founding partner of dClimate, said, “We’re thrilled to join forces with the University of Namibia and the Republic of Namibia to develop a scalable, blockchain-powered validation and registration platform to measure Namibia’s total carbon effect via transparent satellite surveillance.”
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