There's been lots of news in the world of NFTs — and in other developments, the U.S. is now the biggest hub for Bitcoin mining in the world.
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Coinbase Takes on OpenSea 😱
The world's biggest NFT marketplace has a big new competitor on the block. Coinbase has announced that it's launching its own platform for non-fungible tokens. In a swipe at OpenSea, the company says the user experience is currently "lacking" for people who are interested in buying or creating crypto collectibles. Find out more about Coinbase NFT.
TikTok Launches NFT Auctions 🚀
In other NFT news, TikTok has kicked off auctions for tokenized versions of the social network's top moments. One of them is the catchy song Bored in the House by Curtis Roach. The musician has teamed up with COIN ARTIST to create a fresh take on the viral video. Given the highest bid is currently 6.8 ETH, will this alienate its core teen audience? Read more.
Who Could Benefit Most from NFTs? 📈
Keeping with the theme, new research from Citi has revealed which major companies could benefit most from the explosion of NFTs. It's good news for the likes of Electronic Arts and Disney — firms with intellectual property that can be tokenized. But it's bad news for businesses with physical stores that sell content… such as GameStop. Here are the details.
Sorare Under Scrutiny in the U.K. 🇬🇧
Some less cheery NFT news, and Sorare has potentially run into trouble with the U.K.'s gambling regulator. Officials say the fantasy football platform has failed to secure a license for its activities — and they're now examining whether Sorare needs one. The company says it is "very confident" it does not offer any forms of regulated gambling. Our story.
U.S. Now Dominates Bitcoin Mining 🇺🇸
China's clampdown on crypto mining has been really good news for the U.S. New data shows that America now has a 35.4% share of the global hashrate — that's the total computing power devoted to securing the Bitcoin network. The Cambridge Center for Alternative Finance's latest figures suggest zero activity is taking place on the Chinese mainland. The stats.
Stripe is Getting Back into Crypto 💪
Back in January 2018, Stripe bowed out of accepting Bitcoin payments — arguing that high transaction fees and slow confirmation times made it impractical for everyday purchases. But now, three-and-a-half years on, the company is establishing a crypto team once again — and is advertising for four specialist engineers. Here's the latest.
U.K. 'Risks Falling Behind' on Digital Assets 😬
Now settling in as a senior advisor to a British crypto custody firm, Philip Hammond has warned that the U.K. risks falling behind unless it starts to help businesses embrace digital assets. The former chancellor, who has said he is interested in Bitcoin, says adopting a forward-thinking approach could help the City of London thrive after Brexit. What he said.