NBA 76ers joins fan token platform Socios

Socios, the blockchain-based platform responsible for tokenizing many popular sports franchises, has said the Philadelphia 76ers basketball team will be joining its roster. In a Thursday announcement from Socios, the platform said as part of the partnership the 76ers, or the Sixers, will integrate branding from the fan token site across the physical and digital space. Socios will appear on screens in the team’s home venue, the Wells Fargo Center in Philadelphia, as well as on its website and social media. Alexandre Dreyfus, CEO of Socios and blockchain-based sports platform…

Gelato Network launches ‘G-UNI’ Uniswap v3 management token

While Uniswap’s highly-touted v3 has been racing to the top of TVL charts as of late, the need for active management has kept some retail participants out of their pools — a problem that a new product from the Gelato Network is aiming to fix.  First teased in a community call last week, the Gelato Network has released today the details of their “G-UNI” Uniswap v3 management system. G-UNI aims to perpetually maintain a liquidity range of 5-10% within the current price of an asset pair, with an oracle network…

Thai SEC bans exchanges from handling certain token types including NFTs

Thailand’s Securities and Exchange Commission has approved guidelines prohibiting crypto exchanges in the country from supporting four different types of tokens in certain cases. In a Friday announcement from the Thai SEC, the regulatory body said that Secretary-General Ruenvadee Suwanmongkol had approved crypto exchange guidelines, Notification 18/2564 on “Rules, Conditions and Procedures for Undertaking Digital Asset Business,” on Wednesday to go into effect. The new rules ban Thai exchanges from handling meme-based tokens, fan-based tokens, nonfungible tokens (NFTs) and exchange-issued tokens. Source: Thai Securities and Exchange Commission For tokens issued…

Solana Labs raises $314M via private token sale as ecosystem support expands

Cryptocurrency venture capital funds have poured hundreds of millions of dollars into Solana Labs to support further development and execution of decentralized applications and platforms building on Solana.  Solana Labs, the blockchain development studio devoted to incubating Solana projects, announced Wednesday that it had raised $314.15 million through a private token sale — marking one of the largest private sales of the year. The funding will be used to bootstrap existing and forthcoming decentralized applications and platforms building on Solana. It will also be used to establish a venture investing…

Southern China warns investors against illegal token platforms

Following China’s major regulatory crackdown on cryptocurrencies, financial regulators in Hainan, the smallest province in the country, reportedly issued a warning against crypto or blockchain-themed illegal fundraising schemes. According to local reports, the Hainan branch of the People’s Bank of China, the central bank of the country, and the local financial supervision authority were among the regulators who made the announcement. Regulators warned investors about illegal fundraising campaigns that use virtual currency or blockchain as promotion material, stating that illicit token issuance and financing activities are forbidden. “Any so-called token…

Premier League’s Wolverhampton Wanderers soccer club to launch fan token

The English Premier League’s Wolverhampton Wanderers Football Club will launch fan tokens under a new partnership with Turkish blockchain platform Bitci Technology. The Premier League is the most followed soccer league in the world, Bitci’s announcement reads. Turkish blockchain experts will develop a Wolves’ fan token on Bitcichain. Bitci’s own crypto exchange will list the Wolves fan token first, followed by other exchanges worldwide. The multi-year agreement will see the Bitci logo appear on the Wolves team’s jerseys and screens in the Wolves’ historic stadium, Molineux, starting during the 2021–2022…

Singapore’s DBS Bank launches digital bond security token

Singapore-based multinational banking corporation, DBS Bank, has launched its first-ever security token offering, or STO, by issuing a digital bond. The DBS digital bond has been priced at $11.35 million and comes with a six-month tenor and coupon rate of 0.60% annually. The offering was carried out through a private placement hosted by DBS Digital Exchange, or DDEx, marking DDEx’s first STO. To encourage investor engagement, the bond is set to be traded in board lots of 10,000 Singapore dollars (roughly $7,560) — a dramatic reduction compared to the 250,000…

Museum of Crypto Art to launch MOCA token, plans acquisition spree

According to some estimates, coronavirus-related strains may soon force upwards of one in every eight physical museums to permanently close — but despite the struggles, one Metaverse-native museum is raising funds to transition to a community-governed model.  The Museum of Crypto Art announced today the launch of the MOCA token, a Polygon-based governance and utility asset. The token will be used to vote on pieces added to the museum’s Genesis Collection as well as future exhibits, allow for community curation of museum assets, and establishment a runway for the museum…

Swiss Sygnum Bank to offer custody for Internet Computer token

Switzerland-based cryptocurrency bank Sygnum is launching custody and banking services for Internet Computer (ICP) utility tokens. Sygnum announced on Tuesday that ICP holders will be able to deposit their tokens with the bank’s institutional-grade segregated wallets. The firm said that it is the first bank to offer storage for ICP utility tokens, which debuted trading on May 11. In a second phase of rolling out ICP support, Sygnum plans to launch a suite of banking services for the token, including spot trading as well as options trading at a later date.…

Capture the industry? Token IPOs aim for $200T global capital market

Earlier in May, INX Limited — a Gibraltar-based blockchain trading platform — announced the completion of its INX token sale event, which took place via an initial public offering. The event marked the first time that the United States Securities and Exchange Commission approved a crypto-asset IPO. The SEC has been consistent in its characterization of most crypto assets as securities. Indeed, this stance has been at the forefront of the commission’s campaign against startups that issued digital assets during the initial coin offering mania of 2017 and 2018. Regulated…