Sat 02/10

Good Morning. Shemaroo has teamed up with Polygon ( Amar, Akbar & NFT 👀), MetaMask has good news for Indians, SEC cracks down on staking and Russia has approved crypto mining operations in Siberia. There is a lot of interesting news today so get going!

Shemaroo To Release Bollywood NFTs In Partnership With Polygon: Indian entertainment company Shemaroo Entertainment has joined forces with Polygon Labs to establish its NFT marketplace, Virtasy.io, exclusively on the Polygon network. The platform will feature NFTs from iconic Bollywood films, including images, movie clips, and 3D, metaverse-ready avatars, at launch. The NFTs will give users the chance to bring their favorite Bollywood characters into the metaverse, participate in memorable movie experiences, and build their own valuable collections through Virtasy.io. Additionally, the community-focused platform offers users the possibility to earn and receive awards for engaging in community activities.

Metamask Teams Up With Onramp To Enable Swift Payments Through Banks And Instant Access To Cryptocurrency: Metamask has partnered with Onramp, to offer Indian users a convenient way to access cryptocurrency through their bank. The integration of Onramp's API into the MetaMask mobile app will allow for faster purchases of cryptocurrencies using local payment methods such as UPI and IMPS, making the process more efficient and cost-effective. “Onramp is elated to collaborate with MetaMask to provide Indian users with a decentralized approach to accessing digital assets. This joint venture will make it more convenient for Indians to use and access decentralized applications.” Gaurav Dahake, CEO of Onramp.

Kraken To Pay $30 Million in fines to The Sec & Terminate Its Staking Activities In The US: The crypto exchange Kraken will no longer provide its staking services to U.S. customers. SEC accused Kraken of violating securities laws by failing to register its staking program as a security offering. It allowed users to deposit their cryptocurrencies with Kraken in exchange for the opportunity to earn rewards, advertised as high as 21%. SEC claimed that by participating in the staking program, users were giving up control of their assets and exposing themselves to significant risks. The regulator also expressed concerns about the lack of transparency in how Kraken calculated the rewards for its staking program, as the company determined rewards separate from the underlying blockchain mechanisms.

Russia Has Approved A Cryptocurrency Mining Operation In Siberia: Russia announced that it will provide financial support to a cryptocurrency mining operation that is set to launch in Siberia later this year. The Bitriver-B company will manage and operate the facility, which will feature 30,000 crypto-mining machines and employ 100 workers. The $12 million crypto-mining center will run on 100 megawatts from the local power grid in the region and will be located in East Siberia. The local government in East Siberia is directly backing the project and the center is currently under construction. The facility will operate with zero taxes and after connecting to the national power grid, the electricity tariff is expected to be reduced by approximately half.

Federal Reserve Of New York Published A New 31-page Bitcoin Research Report Titled: "The Bitcoin–macro Disconnect”: “In our empirical analysis, we find that Bitcoin is unresponsive to both monetary and macroeconomic news. In particular, the result that Bitcoin does not react to monetary news is puzzling as it casts some doubts on the role of discount rates in pricing Bitcoin,” the report says. The report also mentions that the apex crypto “shares most of the features of a store of value, such as gold.” It’s the first time there has been such a detailed report about bitcoin by a US financial authority.

Blockchain Developer (Hyperledger) At Knoct

What Are POAPs, And Why Should You Collect Them?: POAP is an acronym for Proof of Attendance Protocol. These NFT badges are given out to prove attendance at an event, whether it took place virtually or in the real world. Each badge is unique, meaning that the only way to get a certain POAP is to be at the event. Collectors can quickly accumulate a unique collection of POAPs that documents their experiences and travels through the crypto space.