【Chain to FM】Central African Republic started public sale of Sango Coin, Safe plans to launch its own token

【Data Intelligence】

Report: NFT Market Expected to Reach $200 Billion by 2030

A recent report from Grand View Research predicts that the NFT market will be worth $200 billion by 2030, partly due to the growing demand for the applications behind it. Calculating that the NFT market is worth just over $15 billion today, the report examines the movement and evolution of the NFT market between 2018 and 2020. The document predicts that the market will grow at a compound annual growth rate of 33.9% from 2022 to 2030, and that growth will be concentrated in the digital asset segment of the NFT market. Most of this activity is expected to take place on ethereum, which is expected to move to a greener consensus mechanism later this year. However, NFT activity in other chains is also expected to grow.

Report: The global crypto wallet market is expected to grow by $686 million by 2026

News on July 26, according to a new report titled "Global Crypto Wallet Market 2022-2026" released by Reportlinker on July 26, the market size of crypto wallets will grow by $680.5 million during 2022-2026. Meaning it will accelerate at a compound annual growth rate (CAGR) of 24.19% during the forecast period. Furthermore, the study states that the increasing popularity of wallets is one of the major factors behind the forecasted growth.

【 Regulatory News 】

U.S. House Financial Services Committee Has Delayed Stablecoin Bill Until September

The House Financial Services Committee has pushed back its long-awaited stablecoin bill until September after Democrats and Republicans disagreed over a last-minute provision proposed by the Treasury Department following objections from U.S. Treasury Secretary Janet Yellen. That would delay Congressional discussion of the topic until after the August recess, which ends Sept. 5. The legislation, negotiated by committee chairs Maxine Waters and Patrick McHenry, was originally scheduled to be considered on Wednesday, July 27. Its purpose is to allow banks to issue stablecoins, and for non-banks to issue them under the supervision of the Federal Reserve. However, its legislative framework was opposed by independent community bankers of the United States and the U.S. Treasury Department. Yellen called Waters on Friday to discuss how she would manage stablecoins held in custody on behalf of consumers. The Treasury Department has reportedly proposed that the bill require custody wallet providers to segregate clients’ assets to ensure they are preserved in the event of bankruptcy. That has stifled debate on the bill, which lawmakers claimed was nearly complete as of last week. Democrats tried to implement the changes proposed by the Treasury Department, while Republicans opposed it.

US Senator Introduces Bill to Make Crypto Transactions Under $50 Tax-Free

As the U.S. continues to deliberate on the proper regulatory framework for the cryptocurrency industry, two senators are now seeking to exempt cryptocurrency investors from payingtaxes on transactions below $50. Senators Patrick Toomey of Pennsylvania and Kyrsten Sinema of Arizona have introduced a bill in Congress that would prevent Americans from reporting crypto transactions with income below $50. Dubbed the Virtual Currency Tax Fairness Act, the bill aims to make it easier for Americans to use cryptocurrencies as an everyday form of payment by exempting them from paying taxes on small personal transactions like buying a cup of coffee.

【Industry Trends】

Immutable Games Studio Has Fired Multiple Blockchain Game Designers

According to senior game designer James Wakeham (James Wakeham) on social media, Immutable Games Studio has fired several employees, including him. Immutable Games Studio is the company behind Immutable X, a layer-2 solution for Ethereum. It has launched several blockchain games, including the NFT card game Gods Unchained, and the upcoming mobile action role-playing game Guild of Guardians. The valuation of 100 million US dollars has completed a financing of 200 million US dollars.

Safe plans to launch its own token

Institutional-grade wallet Safe plans to launch its own token called SAFE, but there is no firm timeline for its launch yet. However, cryptocurrency analysts say investors can start betting on Safe’s success through some kind of backdoor by buying GNO tokens linked to Safe’s parent company, Gnosis. The price of GNO has risen more than 30% since Safe raised $100 million earlier this month in a strategic funding round from more than 50 investors including 1kx, Coinbase Ventures, Tiger Global Management and Digital Currency Group. Previously, George said that SAFE tokens may be launched in September or October.

Wharton launches Metaverse-focused business course

The Wharton School of the University of Pennsylvania, a prestigious business school, has announced a new course on metaverse business.The online course, titled "Business in the Metaverse Economy," introduces students to Metaverse business practices and provides participants with a first-hand interactive experience in a virtual space. Kevin Werbach, the course's academic director, said the aim of the course is to give business professionals a better understanding of the opportunities in the emerging metaverse economy and provide better tools to address problems within it.

Mirror launches Web3 subscription service, readers can connect wallet to subscribe content

On July 27th, Mirror announced the launch of web3 subscription service. The new feature allows readers to subscribe to any Mirror post with their wallet and receive email notifications when new content is published. For content creators, this feature can assist in building a wallet-based community.

Celsius looks to hire former CFO as bankruptcy adviser

Cryptocurrency lender Celsius Network has filed a motion to hire former chief financial officer Rod Bolger as an advisor to help with its bankruptcy proceedings, with a hearing set to be held on Aug. 8 to consider the motion. Bolger worked with the company for just five months before resigning in June. He replaced Yaron Shalem, who was arrested last November for alleged cryptocurrency-related fraud, and was later replaced by Chris Ferraro. Bolger gave the eight-week notice on June 30, according to a motion filed with the U.S. Bankruptcy Court for the Southern District of New York. Bolger will be paid C$120,000 ($93,188) per month for at least six weeks, the motion said. It said the agreement would provide Celsius with much-needed accounting and financial expertise during unprecedented times.

【Elite Viewpoint】

Cardano founder: blockchain is a recognized technology category that solves various practical problems

On July 27th, Cardano founder Charles Hoskinson responded to a tweet by Bitcoin maximalist Max Keiser, who mentioned that Swan Bitcoin CEO Cory Klippsten called the blockchain a marketing scam on Paul Barron's show , and noted: So far, the only valuable use case for blockchain is as part of a system designed for Bitcoin. Hoskinson expressed his dissent, describing blockchain as "a recognized category of technology that solves practical problems ranging from voting to supply chains.

Bloomberg commodity strategist: Bitcoin may outperform the market in the second half of 2022

Although the decline in the cryptocurrency marketbegan in the first half of 2022 and continued into the second half of the year, Bloomberg senior commodity strategist Mike McGlone believes that Bitcoin may actually perform well in the second half of the year. The unwinding of bullish commodity positions, copper prices posting their fastest drop since 2008 and U.S. bond futures recovering from their biggest drop from their 50-week average since the 1987 stock market crash all come as the Fed tightens aggressively Base cryptocurrency. McGlone also added that the 2H view on the continued bull market in Bitcoin and bond futures may come down to the fact that they are not getting colder.

【What to watch today】

Central African Republic Launches Sango Coin Public Sale

Sango Coin, the national cryptocurrency of the Central African Republic (CAR), is now on sale, according to details on the Sango project website. The public sale began on Monday with the purchase of 200 million Sango Coins at a price of $0.10. The final listing price was $0.45, according to the site. People who want to buy tokens need at least $100 in major cryptocurrencies. These coins are BTC, ETH, BNB, USDT, USDC, BUSD, and Dai. The sale supports the transfer of these tokens on the Ethereum ERC-20 and Binance Smart Chain networks. The project had set a minimum amount of $500 to participate in the round, but was forced to lower the entry requirement due to complaints from potential buyers. As of press time, the Sango project has sold 5.25% of its tokens. This means the project raised over $1 million in funding within the first 24 hours of the public sale. The project plans to raise more than $1 billion through a year-long token sale. Sango Coin purchased during this public sale phase has a one-year lock-up requirement. Therefore, buyers cannot withdraw or transfer their tokens until the lockup period is over.

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