Mon April 02

Good Morning. Our Referral program is live. Please see the bottom of the letter for more details 😀 . 3 Dot launches India’s first NFT marketplace for content creators, Tendulkar-backed platform has been accused of fraud and OpenSea launched something called OpenSea Pro.

🕵️ Consumer Rights Body Asks Sitharaman To Investigate Tendulkar-Backed Platform: The Consumer Online Foundation has brought to the attention of FM Sitharaman a company called Rario, raising concerns over its business activities. In a letter to her, it has asked for an investigation into Rario's compliance with Indian laws in relation to virtual digital assets and anti-money laundering laws. Rario claims to be the world's first and largest licensed digital cricket collectible platform, but in reality, it is an NFT and cryptocurrency platform, which is not made clear on its website, according to the Foundation’s Managing Trustee Bejon Kumar Mishra. The platform's consumers are mainly Indian cricket fans, and Rario has reportedly sold over 1.3 million player cards in a short period. Their initial study revealed Rario's violation of applicable taxation provisions and the use of deceptive and unethical marketing practices that violate consumer rights. Moreover, Rario's current KYC processes are said to violate anti-money laundering laws.

🥇 India’s First Ever NFT Marketplace for Content Creators and Collectors 3DOT, established in 2023, has recently launched India's newest NFT marketplace, catering to content creators, creative artists, and collectors of NFT tokens. The marketplace enables the buying, selling, and trading of non-fungible tokens through its platform, which is enhanced by the 3DOT proprietary Initial Decentralized Offering (IDO). The 3DOT marketplace comes with unique features such as Lazy Minting, where buyers can pay for the gas fee used in minting the 3DOT Non-Fungible Token, providing a solution for creators who may not have the funds to mint new tokens. The marketplace is designed as an easy-to-use system for publishing, bidding, and trading, and influencers promoting the project will be rewarded with 3DOT Tokens.

👀 XRP Verdict By May 6?: The legal community has been talking more lately as a verdict in the Ripple vs SEC case is expected soon, possibly by May 6th. A lawyer named Bill Morgan, who is pro-XRP has stated that the SEC may be correct in asserting that some investors purchased XRP with the expectation that Ripple would win the case. The SEC's expert has apparently acknowledged that the majority of XRP's returns are linked to Bitcoin and Ethereum's performance from mid-2018 to the present. However, the SEC still maintains that Ripple's efforts are necessary for XRP investors to make profits. Additionally, if the SEC's expert analysis is accurate, Ripple would be responsible for Bitcoin and Ethereum's price fluctuations affecting XRP's value.

💻 OpenSea Pro Is Here: OpenSea, a marketplace for NFTs that was previously dominant until the arrival of Blur, has launched OpenSea Pro in an attempt to regain its position as the top platform. OpenSea Pro is a renamed version of Gem, an NFT market aggregator that OpenSea acquired in April. The new platform is capable of pulling information from 170 marketplaces, providing real-time data tracking, inventory management, optimized gas fees, and other features for professional NFT traders. The site also rewarded early Gem users with an NFT called Gemesis. It remains to be seen whether OpenSea Pro will surpass Blur, but the response on Twitter has been positive. OpenSea Pro enables OpenSea to serve experienced NFT traders while still catering to casual traders on its primary platform.

Ripple Vs SEC: SEC vs. Ripple is an open court case in the United States Southern District Court of New York that could decide the future of cryptocurrency regulations and determine if it is a security or a commodity.