HSBC and The Sandbox Partner to Connect Global Communities
HSBC and The Sandbox, a subsidiary of Animoca Brands, have announced a groundbreaking partnership that will bring virtual communities from around the world closer to global financial and sports communities in The Sandbox metaverse. As a part of this partnership, HSBC will acquire a parcel of LAND in The Sandbox metaverse that will be developed to engage and connect with fans of sports, eSports, and gaming.
The native token of the Sandbox platform, SAND, has been designated an unregistered security by the US Securities and Exchange Commission (SEC).
Solana Labs Raises $314.15 Million in Private Token Sale
Solana Labs, the blockchain protocol for fast and secure decentralized applications and marketplaces, has completed a $314.15 million private token sale. The round was led by Andreessen Horowitz and Blockchain Capital, with participation from Polychain Capital, Alameda Research, and others.
The native token of the Solana blockchain, SOL, has been characterized as an unregistered security by the SEC.
Protocol Labs Launches Decentralized Storage Alliance with Founding Member EY
Protocol Labs, the creators of decentralized storage network Filecoin, have announced the launch of the Decentralized Storage Alliance (the covenant), with Ernst & Young (EY) as a founding member. EY is the first Big Four accounting firm to commit to public blockchain and will focus on providing tools, systems, and services to help companies leverage blockchain technology to address the most pressing issues in the ecosystem, including privacy, security, and regulatory compliance.
The native crypto asset of the Filecoin network, FIL, has been characterized as an unregistered security by the SEC.
NEAR Foundation Teams up with MasterCard for Real-Life NFT Experience
NEAR Foundation has partnered with MasterCard to deliver a unique real-life NFT experience through one of its most innovative Balkans Hub projects, Tekuno. NEAR is a proof-of-stake blockchain protocol that enables fast and secure decentralized apps and smart contracts, while Tekuno is a project aimed at developing a digital art network powered by blockchain.
The native token of the NEAR blockchain protocol, NEAR, has been characterized as an unregistered security by the SEC.
Sygnum Bank Offers Internet Banking and Custody Services for ICP
Sygnum Bank has become the first bank to offer Internet banking and custody services for Internet Computer Protocol (ICP) utility tokens. ICP is a blockchain protocol that enables developers to build and run decentralized applications.
The native token of the ICP network, ICP, has been characterized as an unregistered security by the SEC.
Dapper Labs Raises $250 Million in Latest Funding Round
Dapper Labs, the company behind NBA Top Shot and the Flow blockchain, has raised $250 million in its latest funding round. The round was driven by Coatue and included participation from a range of notable investors, such as Andreessen Horowitz, Union Square Ventures, Venrock, and others.
The native token of the Flow blockchain, FLOW, has been characterized as an unregistered security by the SEC.
FC Barcelona Teams up with Chiliz to Engage Fans Through Blockchain
FC Barcelona has signed a global partnership agreement with Chiliz, a blockchain-based platform for fan engagement. The agreement will enable fans to interact with Barça through the Chiliz Socios.com fan voting and rewards platform, using digital assets called Barça Fan Tokens.
The native token of the Chiliz blockchain, CHZ, has been characterized as an unregistered security by the SEC.
Polygon Makes Strategic Deal with DraftKings
Polygon, the Ethereum scaling and infrastructure development platform, has announced a strategic blockchain deal with DraftKings, a leading provider of daily fantasy sports and sports betting. The partnership will enable DraftKings to expand its offerings beyond traditional sports betting and into NFTs and other non-fungible assets.
Polygon and Disney Partner to Develop Exclusive Digital Memorabilia
Polygon is working with Disney to develop a proof of concept for creating exclusive digital memorabilia that will be used to recognize Disney employees during special occasions.
Starbucks Introduces Starbucks Odyssey, a Web3-Powered Experience for Customers
Starbucks has introduced Starbucks Odyssey, a new experience powered by Web3 technology that offers Starbucks Rewards members and partners the opportunity to earn and purchase digital collectibles that unlock access to new benefits and immersive coffee experiences. The proof-of-stake blockchain technology created by Polygon will be used to make this experience possible, as it uses less energy than first-generation proof-of-work blockchains.
The native token of the Polygon blockchain, MATIC, has been characterized as an unregistered security by the SEC.
Conclusion
As blockchain technologies continue to gain momentum, many of the platforms and tokens powering these technologies have come under scrutiny from regulators. The SEC has characterized many native tokens as unregistered securities, raising concerns about the legal status of these tokens and the platforms that use them. Despite the challenges, however, many blockchain-based companies and platforms are forging ahead and finding innovative ways to engage customers and communities through the power of blockchain technology.
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HSBC extensionone of the world’s largest international banking and financial services providers, and The Sandbox, a leading decentralized gaming virtual world and subsidiary of Animoca brandstoday announced a new partnership that will open up a number of opportunities for virtual communities from around the world to engage with global financial service providers and sports communities in The Sandbox metaverse.
The groundbreaking partnership between The Sandbox and HSBC will see the global financial services provider acquire a parcel of LAND, virtual real estate in The Sandbox metaverse, which will be developed to engage and connect with fans of sports, eSports and gaming.
(In the cases v Coin basis AND Binanzathe US Securities and Exchange Commission this week designated SAND, the native token of the Sandbox platform, as an unregistered security.)
Solana Labs Completes $314.15M Private Token Sale Led by Andreessen Horowitz and Capital Polychain
(The lawsuits also characterize SOL, the native token of the Solana brockchain, as unregistered security.)
Protocol Labs and the Filecoin Foundation along with other founding members, announced today the launch of the Decentralized Storage Alliance (the covenant”).
[As a founding member of the Alliance,] Ernst & Young (EY), the first Big 4 company to commit to public blockchain, focuses on putting in place the tools, systems and services that will be needed to help public and private companies leverage blockchain technology to address the ecosystem’s most pressing issues : privacy , security and regulatory compliance. As a trusted advisor to the world’s largest companies, EY’s ability to test and audit transactions in a blockchain environment gives companies the confidence to move from simple tracking on a blockchain to transactions through their entire lifecycle corporate.
(The lawsuits also characterize FIL, the native crypto asset of the Filecoin network, as an unregistered security.)
April 7, 2023:
NEAR Foundation is thrilled to announce that Tekuno, one of the most innovative NEAR Balkans Hub projects, has recently partnered with MasterCard to deliver an incredibly unique real-life NFT experience.
(The lawsuits also characterize NEAR, the native token of the NEAR blockchain protocol, as unregistered security.)
Sygnum Bank today announced that it will be the first bank to offer Internet banking and custody services for Computer utility tokens (ICP).
(The lawsuits also characterize ICP, the native token of the Internet Computer Protocol blockchain, as unregistered security.)
Dapper Labs, Inc., the company behind NBA Top Shot and the Flow blockchain, today announced a new $250 million funding. Driven by Coat. . . Notable investors in Dapper Labs include Andreessen HorowitzCoatue, Union Square Ventures, Venrock, BOND, GIC, Google Ventures (GV), SAMSUNG and the founders of Dreamworks, Reddit, Coinbase, Zynga and AngelList, among others
(The lawsuits also characterize FLOW, the native token of the FLOW blockchain developed by Dapper Labs, as an unregistered security.)
FC Barcelona has signed a new global partnership agreement with sports and entertainment blockchain-based fan engagement platform Chiliz. The agreement will allow fans to interact with Barça in an innovative way through the Chiliz Socios.com fan voting and rewards platform, where they will be able to participate in different polls and surveys on the club’s daily activities using digital assets called “Barça Fan Token ‘.
(The lawsuits also characterize CHZ, the Chiliz blockchain’s native token, as unregistered security.)
Because we [Samsung] invested in Axie Infinity, a blockchain gaming unicorn
(The lawsuits also characterize AXZ, the native token of play-to-earn game Axie Infinity, as unregistered security.)
Polygon and DraftKings Make a strategic blockchain deal
Today we are introducing cryptocurrency payments for Connect.. [ . . . ] Band it will initially support payments in USDC, a stablecoin pegged to the US dollar. This will allow many people who otherwise would not be able to hold dollars to do so. Payments will be made via the Polygon network, which we chose for its low fees, speed, Ethereum integration, and broad wallet compatibility
Polygon is working with Disney on developing a proof of concept for exclusive digital memorabilia to recognize Disney employees during special occasions.
Presentation Adidas For Prada re-source: An ambitious first-of-its-kind NFT collaboration that will feature user-generated and creator-owned artwork. . . . Adidas and Prada have partnered with Polygon Studios to build the project on the Polygon network.
Starbuckstoday introduced Starbucks Odyssey, a new experience powered by Web3 technology that will offer Starbucks Rewards members and Starbucks Partners (employees) in the United States the opportunity to earn and purchase digital collectibles that will unlock access to new benefits and immersive coffee experiences. […] Starbucks will use a “proof-of-stake” blockchain technology created by Polygon, which uses less energy than first-generation “proof-of-work” blockchains.
(The lawsuits also characterize MATIC, the native token of the Polygon blockchain, as an unregistered security.)
Further reading:
— The SEC sues Coinbase for allegedly violating US securities law (FT)
— The full complaint (SEC website)
— Cryptocurrency exchange Binance sued by SEC in latest strike by US regulators (FT)
— The full complaint (SEC website)
https://www.ft.com/content/ddfb8c33-4d2e-4f1b-a1f8-2586cc9b53b6
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