Blockchain Industry Weekly｜Hong Kong launched the "Digital Hong Kong Dollar" pilot project; sports brand PUMA launched an NFT that can experience its metaverse; Ubisoft launched the "Assassin's Creed" NFT

Text丨Blockchain Landing Expert

Overview

Sports brand PUMA also recently launched its new NFT attempt - PUMA Pass NFT, which is PUMA's third NFT project after Nitro pass and Super PUMA. The PUMA Pass NFT features the ability to unlock exclusive products and experiences from PUMA’s Metaverse website Black Station, allowing holders to enjoy PUMA’s innovative designs and brand culture in the virtual world. This is an innovative model that combines NFT with physical goods, and it is also a platform to showcase PUMA's leading position in fashion, sports, creativity, etc.

PUMA Pass NFT can not only attract NFT enthusiasts and collectors, but also attract PUMA's loyal fans and trend followers. Holders of PUMA Pass NFT can experience PUMA's brand value and creativity in the metaverse, and can also obtain PUMA's limited products and discounts in reality. Such an interactive method can enhance the connection and trust between PUMA and consumers, and can also enhance PUMA's influence and competitiveness in the Web3 field. And this is also a way of thinking for popular traditional brands to carry out Web3 Branding, which is suitable for traditional enterprises to learn and emulate.

In Hong Kong recently, since a series of industry conferences in April, there have been new trends. The Hong Kong Monetary Authority (HKMA) has launched the "Cyber Hong Kong Dollar" Pilot Project, cooperating with 16 companies from the financial, payment and technology sectors to explore potential use cases of the "Cyber Hong Kong Dollar" in six areas, including comprehensive payment, programmable Payment, offline payment, tokenized deposit, third-generation Internet (Web3) transaction settlement and tokenized asset settlement.

Judging from the current use cases of the project, although the exploration is mainly at the level of payment and clearing settlement, it happens to be the most common application scenario of legal currency. Based on these use cases, the digital Hong Kong dollar may improve payment efficiency and security, reduce transaction costs and risks, support inclusive finance and financial inclusion, promote payment innovation and diversification, meet different scenarios and needs of payment methods, and increase consumer choice and convenience. At the same time, technologies such as blockchain and smart contracts can be used to achieve more flexible and efficient transaction settlement and asset management. Thereby, enhancing Hong Kong's status and competitiveness as an international financial center, interconnecting with CBDCs in other regions, and promoting cross-border payments and trade.

Judging from the previous exploration of the use of CBDC by many European banks and Singapore’s DBS Bank, the digital Hong Kong dollar may also explore DeFi application scenarios such as AMM in the future. The real adoption of blockchain technology for digital assets will be greatly improved. It is worth looking forward to bringing a new round of cost reduction and efficiency increase to the existing clearing and settlement and payment system.

The following is the detailed content of this weekly magazine. We divide it into five categories: Policy Related, Industry News, Central Bank Digital Currency, Investment and Financing News and Industry Viewpoint Plates, please Enioy:

Policy Related

[Deputy Minister of the Russian Ministry of Finance: The Taxation Bureau, the Financial Management Bureau and the Central Bank may be responsible for the supervision of the Russian Crypto industry]

According to Russian IZ.RU TV, Alexey Moiseyev, Deputy Minister of Finance of Russia, said in an interview at the St. Petersburg International Legal Forum (SPBILF) that the regulator of the Russian Crypto industry is likely to be the Federal Tax Service, which will become an entry point for market participants. The field window, that is, the citizen declaration window; the second is the Russian Federal Financial Supervision Agency (Rosfinmonitoring), because of the risks associated with money laundering; the third is the central bank, but except for the central bank, everyone’s interface will be linked to the Federal Tax Service. As previously reported, Russia intends to set up a special committee to issue licenses to operators using Crypto in foreign trade.

**[G7 Finance Ministers Discuss Crypto Assets Supervision and Commitment to Comply with FSB and IMF Recommendations and Regulations]**According to CoinDesk, the Group of Seven (G7) intergovernmental political forum has stated that it will commit to implementing the Financial Stability Board (FSB ) upcoming Crypto asset regulatory norms and International Monetary Fund (IMF) recommendations on central bank digital currencies. The G7 finance ministers and central bank governors announced that they had discussed crypto asset regulation at a meeting in Niigata, Japan, last Saturday, ahead of next week's G7 summit. Japanese Prime Minister Fumio Kishida stated that G7 leaders will jointly declare support for stricter Crypto rules.

【International Organization of Securities Regulatory Commission will issue Crypto assets international rules】 According to a Reuters report on May 17, Jean-Paul Servais, chairman of the International Organization of Securities Commissions (IOSCO), said that IOSCO will soon propose the first set of Crypto asset international rules. Rules, including how existing norms apply to the industry. IOSCO members including the U.S. Securities and Exchange Commission, Japan's Financial Services Authority and regulators in the U.K., Germany and France have pledged to adopt the agency's recommendations. Servais also said that the IOSCO recommendations will clarify the extent to which existing principles and guidelines apply to cross-border virtual assets and service providers, and that private finance will become a new focus of IOSCO’s work this year.

**[FASB is formulating new accounting standards for Crypto assets, or they may no longer be classified as intangible assets]**According to Blockworks reports, the Financial Accounting Standards Board (FASB) is formulating new accounting standards for Crypto assets. The FASB stated that the existing accounting treatment of Crypto as an intangible asset with an indefinite duration fails to provide investors with informative data for decision-making purposes. According to the FASB, when the market price of Crypto assets held by the company is lower than the purchase price, impairment losses should be accrued, and if the market price is higher than the purchase price, gains can only be recognized after the sale.

**【Bank of Korea: Crypto market also needs to be regulated at the level of banking law and capital market law】**According to Sedaily, the Bank of Korea released a report entitled "Assessing the Defects of the Crypto Asset Market and Its Impact on Major Global Events" . The report stated that if deposits or loans in the Crypto asset market are the same as the traditional financial industry and face the same risks, the Crypto market should be regulated the same as the existing industry. The person in charge of the Bank of Korea said that if the crypto asset market is similar in economic function to the traditional financial industry, regulatory rules similar to the "Banking Act" or "Capital Market and Financial Investment Services Act" should be formulated.

**【U.S. House of Representatives Stablecoin Hearing Focuses on State or Federal Regulation of Stablecoin Issuers】**According to Coinlelegraph, at the hearing on stablecoins in the U.S. House of Representatives on May 18, the main focus was on two competing The stablecoin bill, state and federal regulation is a key issue. The Republican bill would allow stablecoin issuers to choose the states they register in without going through the Federal Reserve. The Democrats' bill preserves regulatory opportunities for appropriate regulators in federal hands.

**[Shanghai Maritime Court first determined the effectiveness of blockchain evidence in a certain case]**According to China Shipping Weekly, recently, in a maritime freight forwarding contract dispute case, the collegial panel referred to the "Shanghai Maritime Court Blockchain Evidence Review Guidelines" (referred to as the "Guidelines"), in the event that the whereabouts of the defendant is unknown, the key electronic evidence stored on the third-party blockchain evidence storage platform shall be reviewed and determined, the facts of the case shall be promoted, and the dispute shall be settled as soon as possible. The "Guidelines" includes third-party evidence storage platforms and judicial blockchain platforms in the scope of attention, focusing on electronic evidence generated by application platforms such as blockchain bills of lading, port management, and cross-border settlement, and providing guidelines for judges on key points of review. Article 12 of the "Guidelines" stipulates that for electronic data fixed and submitted through technical methods such as trusted time stamps and electronic evidence collection and storage platform certification, the source of electronic data, the degree of relevance to the facts of the case, and the relationship between electronic data should be considered. According to legal provisions, use logical reasoning and daily life experience to make a comprehensive judgment on the probative force. The collegiate panel reviewed the relevant points with reference to the "Guidelines" and found that the credible time stamp evidence submitted by the plaintiff can be mutually verified with the "payment commitment", electronic invoices, bills of lading and other business documents formed during the plaintiff's business dealings with the defendant, forming an effective chain of evidence.

Industry News

[Ubisoft will launch the "Assassin's Creed" NFT series, open casting on May 16]

According to Decrypt, game giant Ubisoft (Ubisoft) and Integral Reality Labs have partnered to launch the "Assassin's Creed" NFT series "Assassin's Creed Smart Collectibles" on Polygon, which will officially open for casting on May 16. Each minted "digital soul" NFT can be used to customize and redeem 3D printed and NFC-enabled physical collectibles. Each NFT has a different rarity level, and higher-level NFTs can unlock more customization elements. Integral Reality Labs will also release 1,500 "Piece of Eden" passes, offering holders access to airdrops of exclusive collectibles, priority access to 3D printing, and more.

【CertiK cooperates with Alibaba Cloud to provide blockchain security services for cloud-based Web3 projects】

According to GlobeNewswire, blockchain security organization CertiK and Alibaba Cloud announced a partnership to provide blockchain security services for cloud-based Web3 projects. Web3 developers can use CertiK's end-to-end security solutions and Alibaba Cloud's infrastructure to accelerate the development process and secure applications and smart contracts. Developers and enterprises will be able to use the services and tools provided by CertiK and deployed on Alibaba Cloud for code audit, risk assessment, team identity verification, background check, etc.

【Bank of New York Mellon plans to integrate digital assets into all its businesses】

According to the Daily Planet, Bank of New York Mellon plans to integrate digital assets into all aspects of its business. Roman Regelman, CEO of BNY Mellon's securities services and digital business, said that the bank is advancing a digital strategy that focuses on distributed ledger technology, tokenization and digital cash, and that the company is prioritizing digital as customer demand increases. assets.

It is reported that Bank of New York Mellon has been committed to digital asset products. It began to provide institutional digital asset custody services for some investors last fall, and appointed Caroline Butler as the CEO of the digital asset department in February.

[Toymaker Mattel to Launch Fast and Furious Movie NFT Collection on May 22]

According to Decrypt, American toy manufacturer Mattel will launch the latest version of the "Hot Wheels NFT Garage" series based on the "Fast & Furious" series on May 22. It is reported that this series of NFTs will be launched on the Flow blockchain and will be themed with cars from the movie, including Dominic Toretto's 1970 Dodge Charger, Brian O'Conner's 1969 Camero, and Suki's Honda S2000, limited edition The NFT is selling for $20.

【Greenland’s subsidiary plans to apply for a virtual asset trading license in Hong Kong】

A Greenland Holdings executive said a Greenland Holdings subsidiary is planning to apply for a license to trade virtual assets in Hong Kong, the South China Morning Post reported on May 17. Greenland Fintech will set up a new company to focus on virtual asset transactions, and the new department will submit an application to the China Securities Regulatory Commission. If approved, the new company plans to trade Crypto, NFTs and products related to carbon emissions.

【Chain game Axie Infinity will be launched in the App Store of some countries in Latin America and Southeast Asia】

According to a report by The Block on May 17, Sky Mavis co-founder Jeffrey Zirlin said that "Axie Infinity: Origins" will be available in the Apple App Store in some countries in Latin America and Southeast Asia.

[China Academy of Information and Communications Technology released a trusted computing power service platform based on "Spark Chain Network]

According to a report by Golden Ten Data on May 17, the China Academy of Information and Communications Technology officially released a trusted computing power service platform based on "Spark Chain Network" at the "Blockchain Innovation and Development Seminar" at the 2023 World Telecommunication and Information Society Day Conference. The platform strives to achieve credible, secure, and private scheduling of computing power and data based on the national-level trust infrastructure of "Spark Chain Network". In order to solve the efficient deployment of large-scale and diversified computing power, it provides distributed, credible, efficient, and green technical solutions to support the construction of the national east-to-west computing project and the national computing power network.

【Whale Explorer launched the UGC function, opening up the ability to create personal digital collections to users】

According to the Beijing News, Jingtan, a digital collection platform under the Ant Group, officially launched the UGC function, opening up the ability to create personal digital collections to users. At present, in the Whale Exploration App, users can create their own personal digital collections by participating in the "520 Sending Stars" activity. Previously, Whale Explorer also connected to AIGC to provide users with AI drawing tools, and supported two modes: users input text to generate pictures, and input pictures to generate pictures. In terms of transfer rules, the personal digital collection minted by the user can be transferred to others immediately. If the recipient wants to transfer again, he must hold it for 90 days before proceeding. That is, there is no time limit for the first transfer, and 90 days for the second transfer.

[Music NFT platform Sound.xyz launched the Sound mobile app]

Babbitt News, on May 18, the music NFT platform Sound.xyz announced the launch of the Sound mobile app, allowing you to explore new artists and songs, browse or create playlists, and more. Sound.xyz said that when users discover new songs they like, they can collect them on Sound.xyz.

【Custodia Bank, a digital asset bank, will launch Bitcoin custody service soon】

According to Decrypt, Caitlin Long, CEO of digital asset bank Custodia Bank, said in a panel discussion at the Miami Bitcoin Conference that the bank issued a 60-day advance notice in April that it would launch a Bitcoin custody service for its customers. It is reported that Custodia Bank, formerly known as Avanti, has been providing a full range of financial services to customers with digital assets since 2020. As a special purpose depository institution (SPDI), the bank was also one of the first to register under Wyoming's Crypto-friendly laws.

【Sports brand PUMA launches PUMA Pass NFT】

Babbitt News, sports brand PUMA PUMA official push PUMA.eth recently announced plans to develop the NITRO Collection into a broader ecosystem, so officially launched PUMA Pass NFT, users who hold the pass can get exclusive Black Station product launch and experience Chance. Prior to the release of Black Station products, PUMA Pass holders will receive relevant NFTs and receive exclusive benefits to purchase limited edition innovative merchandise, and PUMA Pass NFT holders will also receive access to PUMA projects in Web3 and metaverse space in the future permission.

[Jack Dorsey's TBD launched a new open source toolkit for Web5, the platform will be launched this year]

According to a CoinDesk report on May 19, former Twitter CEO Jack Dorsey's Bitcoin subsidiary TBD launched a new open source toolkit for its Web5 project, aiming to make it easier for developers to create decentralized Internet applications. These collections of technologies include DIDs; secure digital certificates called Verification Credentials (VCs), which provide legal proof of things like name, age, and asset ownership; and Decentralized Network Nodes (DWNs), which store data in a decentralized manner. The full Web5 platform will launch later in 2023, but with this initial release, developers can start building decentralized applications on the TBD developer platform. One of the first applications that TBD will launch on its Web5 platform will be a remittance application for Africa and Mexico that uses Bitcoin and stablecoins as payment channels, which will be based on TBD's open source project TBDex.

【US Presidential Candidate Robert F. Kennedy Jr. Accepts Bitcoin for Campaign Donations】

According to Cointelegraph, US presidential candidate Robert F. Kennedy Jr. announced at Bitcoin 2023 that he will accept Bitcoin for campaign donations. Robert F. Kennedy Jr. has said that Crypto technology is a major innovation engine, and said that the United States is hindering the development of the industry.

【Car manufacturer Renault launches Racing Shoe 5 NFT series】

French automaker Renault has announced the Racing Shoe 5 NFT collection, inspired by its iconic Renault 5 Turbo model, one of the most popular cars in Europe in the 1980s, NFTGators reported. The collection showcases 960 limited-edition 3D art NFTs, each with a corresponding pair of sneakers. NFC technology is integrated into each pair of shoes, giving users exclusive access to an NFT digital passport.

【The well-known suitcase brand RIMOWA cooperates with RTFKT to launch NFT】

Babbitt News, the well-known suitcase brand RIMOWA (RIMOWA) recently announced that it will cooperate with Nike's Crypto fashion brand RTFKT to launch NFT. It is reported that this NFT casting will be carried out from May 29th to June 5th, and a total of 888 NFTs and 888 matching limited-edition physical suitcases will be provided. In addition, RIMOWA and RTFKT will also launch four Avatar wearables during the event Set NFT.

[US Presidential Candidate Vivek Ramaswamy Accepts Bitcoin as Campaign Contribution]

Babbitt News, on May 21, U.S. presidential candidate Vivek Ramaswamy announced that he will accept Bitcoin as a campaign donation through BitPay, and will participate in the upcoming 2024 election, becoming the first candidate after Robert F. Kennedy Jr. (Robert Kennedy Jr.) Two presidential candidates officially accepting bitcoin campaign donations. Eligible US citizens and permanent residents may donate up to $6,600 to the event, though this is not deductible as a charitable contribution for federal income tax purposes. Donors will receive an NFT.

Central Bank Digital Currency

[Hong Kong Monetary Authority: Digital Hong Kong Dollar Pilot Program Launched]

According to Jinshi news, on May 18, the Hong Kong Monetary Authority (HKMA) announced the launch of the Digital Hong Kong Dollar Pilot Project. The 16 selected companies from the financial, payment and technology sectors will conduct the first round of trials this year to delve into potential use cases of the digital Hong Kong dollar in six areas, including comprehensive payments, programmable payments, offline payments, tokenized deposits, Three generations of Internet (Web3) transaction settlement and tokenized asset settlement. Yu Weiwen, Chief Executive of the HKMA, said that although the HKMA has not decided whether or when it will launch a digital Hong Kong dollar, it is very pleased to launch the digital Hong Kong dollar pilot project. This is a good opportunity for the HKMA to join hands with the industry to explore innovative use cases, and to prepare for the possible launch of a digital Hong Kong dollar in the future.

Investment and Financing News

[OpenAI co-founder raised nearly $100 million for the WorldCOIN project]

According to the Financial Times, OpenAI co-founder Altman raised nearly $100 million for the WorldCOIN project. As previously reported, Worldcoin, a Crypto company owned by the CEO of OpenAI, launched its first product, the World App.

**[GameFi chain game company Mhaya completes US$5 million in financing, led by Firestone Global]**According to Coinspeaker, GameFi chain game company Mhaya announced the completion of a US$5 million Pre-A round of financing, led by Firestone Global. To accelerate the development of the Mhaya ecosystem and support the Mhaya2023 Grant Game Contest (GGC). Mhaya owns a Free-to-Play multi-chain game "Mhaya2023", which is inspired by the classic game "Monopoly" and driven by 13 key characters based on NFT.

**[Music NFT platform anotherblock completes 4 million euro seed round financing, led by Stride.VC]**According to Tech.eu, music NFT platform anotherblock completes 4 million euro seed round financing, led by Stride.VC, Swedish producer Axwell and the Swedish House Mafia voted.

[NFT game ecosystem Gameta launches $30 million community incentive fund] Babbitt News, on May 16, NFT game ecosystem Gameta announced the launch of a $30 million community incentive fund to reward its community users and attention contributors to Gameta. In the first phase, Gameta users (including Hippo Club NFT holders, Gameta token holders, active Gameta game players, community promoters and participants) will first have the opportunity to receive reward funds. As previously reported, Gameta, a Web3 NFT game platform, completed a $5 million seed round of financing, with participation from Binance Labs and others.

**[Web3 venture capital firm Red Beard Ventures completes $25 million in financing]**According to CoinDesk’s May 16 report, Web3 venture capital firm Red Beard Ventures completed $25 million in financing, with investors including Marc Andreessen from a16z, Chris Dixon, Animoca Brands, NFT platform SuperRare, etc. The new funding round aims to accelerate the adoption of Web3 technologies.

**【Digital entertainment company AnotherBall completes US$2.2 million in financing, Polygon founders and others participated in the investment】**According to PRNewswire, digital entertainment company AnotherBall announced the completion of US$2.2 million in angel round financing, Polygon founder Jaynti Kanani, chief technology officer of Sony Group Angel investors such as Hiroaki Kitano, co-founder of Twitch, Kevin Lin, co-founder of Twitch, and Rehito Hatoyama, consultant of Azuki development company Chiru Labs, participated in the investment. It is reported that AnotherBall is building a brand new Web3 "virtual UP host" project IZUMO. IZUMO aims to create a place for anchors, illustrators, music and video producers who love animation, comics and game culture, so that they can continue to live according to their hobbies. Generate income.

**[Interactive money-making music platform Unitea completes $7 million seed round financing]**According to PR Newswire, blockchain interactive money-making music platform Unitea announced the completion of $7 million seed round financing, 1st Class Guernsey, Chaos Capital, TokenSociety and Fuel Venture Capital participated. Unitea will use the funds raised to further expand the capabilities of its platform both within and outside the music industry. Unitea aims to motivate fans to support their favorite artists through the "earn while participating" model. Fans can earn digital tokens called Karma by sharing music and creating content. These tokens can be exchanged for exclusive rewards, ranging from customized digital assets to Concert tickets and artist meetings.

**[Web3 developer platform Airstack completes $7 million in financing, led by Superscrypt]**According to CoinDesk, Web3 developer platform Airstack completed $7 million in financing, led by Superscrypt, Polygon, Hashed Emergent, NGC, Primal Capital, UOB Ventures and Signum Capital, etc. participated in the investment, and the first half of this round of financing will close in the third quarter of 2022. It is reported that Airstack allows developers to use AI-powered natural language requests to access and utilize on-chain data. At the same time as the funding announcement, Airstack launched an updated version of its Jam social app. The iOS and Android apps are built on Farcaster and Ethereum, with user profiles and groups built around the user's Web3 collections.

**[British asset management company Maitri Capital launches Crypto quantitative trading fund, plans to raise 250 million US dollars]**According to Foresight News, British asset management company Maitri Capital announced the launch of Crypto quantitative trading fund Maitri Cento Quant Fund, the fund’s financing With a target of $250 million, it is currently awaiting registration with the U.K. Financial Conduct Authority. Thomas Caddick, co-founder of Maitri Capital, said that Maitri Cento Quant Fund is an institutional-level investment tool that will use machine learning to establish a quantitative trading model and focus on the 30 most liquid Crypto trading pairs.

**[Web3 start-up Story Protocol completes $29.3 million in seed round financing, led by a16z Crypto]**According to NFTGators, Web3 start-up Story Protocol completed $29.3 million in seed round financing, led by a16z Crypto, Foresight Ventures, Hashed, Samsung Next Fund, Two Small Ventures, DAO5, Berggruen Holdings, Mirana Corp and SLVC participated. According to the brief, the company's platform provides a way to create, manage and license intellectual property on-chain, enabling creators to build narratives with ownership and incentives.

View

[Circle EU Strategy and Policy Director: There may be more Crypto-friendly banks in Europe after the MiCA regulation takes effect]

Babbitt News, on May 14, Patrick Hansen, Circle EU Strategy and Policy Director, tweeted: "So far, Europe already has the most Crypto-friendly banks in the world. With the entry into force of MiCA regulations, this global leadership may It will increase further. Providing convenient banking services for Crypto asset service providers is one of its stated goals. Article VI of the MiCA Act reads: A clear framework should enable Crypto asset service providers to expand their business and facilitate their access to banking services to enable them to carry out their activities smoothly.”

[Chairman of the US SEC: The Crypto market is generally non-compliant, and business models are often built on customer funds]

According to The Block, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said in a question-and-answer session at the 27th Annual Financial Markets Conference held by the Federal Reserve Bank of Atlanta on May 15 that the Crypto market is generally not compliant and is based on decentralized "misrepresentation". Their business models are often based on non-compliance, and their business models are often also based on customers' funds, commingling them, and there are conflicts. The SEC will never allow the NYSE to operate the way a Crypto platform does. Gensler also pointed out that of the four recent bank failures in the United States, three held a large number of Crypto accounts, and the more interconnected the worlds of traditional finance and Crypto are, the more likely it is to trigger disaster in financial markets.

[Recently, the correlation between Bitcoin and precious metal price trends has increased, which may be affected by the banking crisis and the US debt default]

On May 19, according to data from intotheblock, the correlation between the price trend of Bitcoin and precious metals has increased recently.

intotheblock said that the emergence of this phenomenon may be related to the shift of macro focus from interest rates to the banking crisis and the risk of US default. In addition, the recent rebound of the U.S. dollar index (DXY) may also be an important factor that caused the price of Bitcoin and precious metals to fall together.

[Bloomberg: The correlation between Bitcoin and the stock performance of large technology companies is close to the lowest point since 2021]

Bitcoin's correlation with technology stocks has declined, approaching its weakest level since 2021, as sentiment around stocks and crypto diverges, according to Bloomberg. Bitcoin has remained below the $27,000 level this week, while the tech-heavy Nasdaq 100 has risen 3.5%. According to the analysis, the banking crisis in March may have contributed to the decline in the correlation between the two.