China's strategy to use the Metaverse for tourism
PLUS: 💼 a16z ensures NFTs cannot be... evil? and 💸 Saylor slammed with suit for tax evasion.
Curating Web3’s most important news and social proofs of the past week, alongside political profiles, and additional insight, from the Twali Wrapped Guild.
Are you an expert in Compliance, HR, Legal, Tokenomics, Governance, Accounting, Tax, Policy or Regulation?
Headlining…
Most important news of the past week:
by Lucy Pappas
⚖️ Crypto-lawyer Kyle Roche ducks out of multiple high-profile crypto class action lawsuits after predatory lawsuits scandal.
🏛 Bill making Commodity Futures Trading Commission (CFTC) the regulator for crypto exchanges moves forward.
💸 District of Columbia sues MicroStrategy founder and Bitcoin maximalist Michael Saylor for tax fraud.
💼 a16z issues NFT IP license, “Can’t Be Evil,” to improve on copyright weaknesses.
Social proof…
Key cases of adoption over the past week:
by Lucy Pappas
🚀 Meta announces users will soon be able to post NFTs.
Why it matters: As Meta rolls out NFTs on Instagram and Facebook for select individuals this week, Reddit launched their own NFT collection — sans the term ‘NFT.’ Either way, the incorporation of NFTs on these major platforms speaks volumes for mainstream adoption in Web2 infrastructures.
🥂 Grammy artist sees Web3 as the future ‘norm’ for musicians.
Why it matters: Musician Tycho (Scott Hansen) views Web3 as a way for artists eliminate the middleman of social media and own their own data. Tycho’s own Web3 project, “Open Source,” uses NFTs to grant holders access to album listening parties and livestreams — a use case he expects to become more common for artists.
🇨🇳 Beijing proposes increasing development of metaverse technologies and NFTs for tourism and cultural interchange.
Why it matters: For crypto in China, industry use of NFTs and crypto-mining have been swiftly shut down to keep blockchain technologies as a tool of the government. Between China’s CBDC and these government-led NFTs, we’re still seeing widespread adoption of crypto-tech, just through a different avenue.
Crypto Candidates in New Hampshire’s September Primary
Up to midterms, Wrapped will be profiling candidates welcoming of crypto either from recent or upcoming primaries or politicians with significant support/criticism of crypto.
This week, we look ahead to the New Hampshire primary on September 13th. Maggie Hassan will be running against Bruce Fenton, the former executive director of the Bitcoin Foundation. Both have strong stances on crypto, particularly on how to manage its global impact in a manner most advantageous for the U.S.
Read more below:
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