VARA, Dubai’s Virtual Assets Regulatory Authority, to open MetaHQ in The Sandbox

Dubai’s crypto regulator has announced its plan to launch a metaverse headquarters in The Sandbox as a part of Dubai’s attempt to turn itself into the virtual asset hub for the world. The announcement was made on Tuesday when the Crown Prince of Dubai and Chairman of the Dubai Executive Council, Sheikh Hamdan bin Rashid Al Maktoum said, 

“Our presence in the metaverse… marks the beginning of a new phase in the Dubai government’s march for the future; one that will have a positive impact in the long run,”

The authority has not unveiled the details about the MetaHQ or Meta headquarters and what the purpose of this development is. However, the authority, in a brief statement, mentioned that the MetaHQ will:

“serve as its primary channel to engage [Virtual Asset Service Providers] across the globe to initiate applications, enable younger licensees [to] enter the metaverse, openly share knowledge and experiences with consumers and peer regulators to raise awareness, enable safe adoption, and drive global interoperability.”

About the MetaHQ

Details about the MetaHQ are still hazy, and the location of the headquarters in The Sandbox has not been revealed yet. VARA, Dubai’s Virtual Assets Regulatory Authority, was established at the beginning of March to develop an advanced legal framework and regulatory system for the operations of virtual assets in Dubai and the rest of the UAE. 

All the crypto firms that wish to operate in UAE must obtain a crypto license from VARA along with establishing a business presence in-country. Moreover, VARA also regulates the activities of custodians and asset managers in the crypto space. 

This MetaHQ seems to be part of the Dubai government’s attempt to turn the city into a global hub for the digital economy and virtual assets. However, what regulations VARA will impose is still to be seen. 

T.E.A.M DAO raises $5 million Series A round led by Krust Universe and Animoca Brands

T.E.A.M DAO (TEAM), the metaverse’s first Guild 3.0, announced today that it has raised $5 million in a Series A round of funding co-led by Krust Universe and Animoca Brands, with participation from Great South Gate, Shima Capital, Anti Fund, Algorand, GSR, NGC Ventures, Libra Ventures, Nexo Capital, EX Capital, CoinHako, Octava, and others.

The funds were raised at a $48.88 million valuation and are set to help in T.E.A.M DAO’s mission of enabling everyday investors to participate in the numerous metaverse and cryptocurrency-based gaming projects creating new investing opportunities.

TEAM (Tokenized Esports Asset Management) is a decentralized, next-generation tech-enabled crypto gaming guild 3.0 offering aspiring players and asset managers a platform to deeply engage in the new Web3 economy.

Krust Universe is an investment arm of South Korean tech giant Kakao. Krust Universe incubates innovative startups building the next generation of groundbreaking technological applications, enabling their growth and expansion.

Animoca Brands is a global leader in gamification and blockchain with a large portfolio consisting of over 170 investments in NFT-related projects.

The Supreme Leader of T.E.A.M DAO commented: “The $TEAM token’s upcoming public sale propels our vision of catapulting crypto adoption into everyone’s daily life by leveraging GameFi’s engaging platform. The wTEAMs yield retail and institutional investors an immersive experience in numerous metaverse and game projects powered by our proprietary database & middleware infrastructure, empowering organizations to scale quickly and capture alpha in this newfound asset class. Noobs, amateurs, and midtier gamers have long desired enterprise-grade service, benefits, shared rewards, and fulfillment, which prior was only available to Pro Esports Athletes, may now satiate their craving from T.E.A.M DAO’s gaming culture-defining ecosystem.”

A spokesperson from Krust said, “Krust Universe is incredibly excited to partner with T.E.A.M DAO. We believe that TEAM’s technology will be the cornerstone infrastructure for scaling the Web3 economy and bringing onboard the first billion users into the metaverse.”

Yat Siu, the executive chairman and co-founder of Animoca Brands, commented: “T.E.A.M DAO’s innovative technology can democratize access to opportunities in the GameFi space that would otherwise be priced beyond the reach of millions of individuals. Making access to financial services easier is at the heart of the cryptocurrency movement – and wTEAMs along with the T.E.A.M DAO decentralized marketplace serve that purpose.”

TEAM is a Decentralized Guild that acts as a:

  • Fantasy esports NFT league for retail users to participate in the GameFi action
  • GuildFi tech-enabled infrastructure for institutions and guilds to scale and participate actively in games
  • GameFi growth driver for game studios through content engagement, building gameplay tutorials, and accelerator of retail adoption

About T.E.A.M DAO 

T.E.A.M DAO is a next-generation tech-enabled Guild 3.0. TEAM (Tokenized Esports Asset Management) is a platform for aspiring players, metaverse believers, and asset managers to deeply engage in the new web3 economy.

T.E.A.M DAO solves three major problems in gaming guilds as it uses community-driven player acquisition and infrastructure technology for sustainable growth while ensuring quality through careful asset curation and gamified training to ensure a high standard for scholars and treasury values. It also allows for the easy rotation between games and tradability of scholars, boosting flexibility.

Learn more at:

Linktree 

https://teamdao.com.

Contacts
  • T.E.A.M DAO
  • email@teamdao.com

The first Bitcoin Backed Loan by Goldman Sachs

The adoption of cryptocurrency has been exemplary, and even centralized institutions are now paying heed. Even the famous investment bank Goldman Sachs has been active in the crypto space but has recently achieved another milestone. 

The largest investment bank, Goldman Sachs, has announced the opening of the first-ever loan facility backed by Bitcoin. This announcement of the availability of its first-ever lending facility powered by cryptocurrency marks a significant step forward for the bank and will accelerate Wall Street’s adoption of cryptocurrencies. 

According to one of the bank representatives, the secured loan facility offered cash collateralized using the borrower’s Bitcoin holdings. Goldman was enthusiastic about this purchase because of its framework and the 24-hour risk management. 

With the increase in the popularity of cryptocurrencies, Goldman Sachs has become more open to the various asset classes. In March this year, the bank published articles on Bitcoin, the metaverse and digital assets on their website. Moreover, according to the investment bank, the metaverse has over $8 trillion worth of untapped potential. 

Other Crypto Ventures by Goldman Sachs

In May last year, the central investment bank established an official crypto trading team to start trading Bitcoin derivatives. In June, the bank crypto trading desk was expanded with the inclusion of Ethereum futures and options. However, this year, the bank made its first OTC crypto transaction in March. 

Goldman Sachs is looking forward to the expected bull run where Bitcoin is expected to reach the $100,000 mark.

“Bitcoin may have applications other than just a store of value,” the bank’s analyst said, adding that “digital asset markets are significantly broader than bitcoin.”

With this first Bitcoin backed loan, more traditional banks will be inclined to follow the lead and offer more diverse services for the crypto ecosystem. 

Top 5 Telegram Crypto Bots

The advancement of blockchain technology is not limited to more investment and financial resources. The ecosystem is evolving at a rapid pace and is creating infrastructure to support this growth. One of the new trends that have emerged in the crypto market is crypto bots that help users engage with different projects with ease. 

A crypto Telegram bot is essentially a software program that helps users interact with the API of a project. One of the popular types of crypto Telegram bot is a trading bot that interacts with users’ trading accounts to automate the process of placing buy and sell orders for the trader. There are several Telegram crypto bots in the market. Let’s take a look at the top 5. 

Telegram Crypto Bots to look out for

Here are the most used and innovative Telegram crypto bots in the market.

Crypto Trades Today

  • CTT provides Binance and BitMEX signals and educational content on trading.
  • There are over 6K subscribers with approximately 7+ crypto signals per week
  • CTT is a unique group with a large team of traders that offers professional signals to help traders.

Telegram – https://t.me/cryptotradestoday 

AiravatBOT

  • A new crypto utility chatbot with plans to integrate the major crypto exchanges and services.
  • Integrated custodial cloud wallet, staking, and yield farming rewards. 
  • AiravatBOT is currently on testnet and will offer integrations to all Indra Capital and major third-party DeFi products out there. 

Telegram – @AiravatTestnetBot 

4C trading

  • A trading bot that issues signals for BitMex. 
  • 4C trading has over 8K subscribers and sends 0-3 signals per day.
  • The bot uses a more macro-focused approach and is geared toward trading off news. 

Telegram – https://t.me/Cryto4Ctraders4 

Yo Crypto

  • Yo Crypto is one of the largest trading bots with over 29K subscribers.
  • The trading bot issues 0-3 signals for BitMex per day. 
  • The trading bot aims to generate returns for its members consistently. 

Telegram – https://t.me/yocrypto_signal1 

WhaleTank

  • WhaleTank is another trading bot with a heavy focus on technical analysis and providing signals for Binance and BitMex.
  • The bot has over 21K subscribers and sends 0-3 signals per day.

Telegram – https://t.me/whaletank 

These are some of the top crypto Telegram bots in the market that you can subscribe to become familiar with the growing crypto industry. 

Nissan and Toyota Enter The Metaverse

The metaverse has grown into a large-scale concept with more and more companies from different industry verticals looking to experiment. Recently two large automakers, Nissan Toyota, have become the latest entrees to the metaverse

This month, Japanese automakers Toyota and Nissan announced their plans to enter the metaverse and offer virtual and digital experiences to their large user base by organizing digital events and building virtual customer services. 

While these two companies are not the first in line to enter the metaverse, they are taking a unique approach and aim to innovate in the metaverse by offering immersive exhibitions of their cars with the help of Virtual Reality. To achieve this, the companies have also partnered with the video game developer VRChat. 

Nissan and Toyota Entering the Metaverse

While Nissan focuses on creating virtual reality rooms for the customers, Toyota will focus on creating remote working environments, creating offices where they can engage with their personal avatars. Following this integration, some of Toyota’s meetings will be held in a virtual space instead of a physical one. 

“As more people are working from home because of the coronavirus, we are offering young employees and others communication options within the company.”

Toyota

However, Nissan and Toyota have not yet disclosed which metaverse they will choose for integration, but it is likely they’ll go with a popular centralized metaverse such as Meta or the decentralized Decentraland. 

Companies such as Mercedes Benz and Volkswagen are few of the first companies to accommodate the metaverse, with Nissan and Toyota following suit. Regardless, this news of integrating with metaverse is a win for the blockchain community as mainstream and popular giants leading the charge will only boost the adoption of digital currencies. 

Moreover, seeing the success, more and more projects will be inclined towards entering the lucrative space of metaverse. The metaverse is expanding, and all of us are the early members of the revolution.