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January 2019

Ethereum-Built Soccer Game Pens Deal With Italian Giants Juventus

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Ethereum

Ethereum

Sorare, a global fantasy football platform built on the Ethereum blockchain, has inked an exclusive licensing agreement with Italian soccer giants Juventus to launch a digital collectibles range of its star players.

Ethereum-Based Fantasy Football

Paris-based Sorare provides a soccer management game with digital cards representing players that fans can collect and trade. The cards represent non-fungible tokens (NFTs) based on Ethereum’s ERC-721 standard. For each player, Sorare issues 1 “Unique” card, 10 “Super Rare” cards, and 100 “Rare” cards in a manner similar to FIFA’s Ultimate Team game mode. The Juventus cards, which will feature five-time Ballon d’Or winner Cristiano Ronaldo, will go live on February 11, with some cards expected to fetch fees in excess of US$2,000.

“We are very proud to have signed this agreement with such an Italian heavyweight,” said Sorare CEO Nicolas Julia. “We see this as a new key step in our vision to onboard the best soccer clubs from around the world and bring blockchain-gaming to football fans around the world.” Juventus is not the first European giant to reach a deal with the Ethereum-based platform; Atletico Madrid, Porto, and AS Roma also signed similar agreements.

Top Clubs Embracing Crypto

Crypto promotion is becoming an increasingly popular trend in the soccer world. Several Premier League teams have signed sponsorship agreements with crypto firms, including Wolves’ shirt sponsor CoinDeal, while eToro also has deals in place with six teams, including Tottenham Hotspur, Crystal Palace, Leicester City, and Southampton. Further afield, Portuguese champions Benfica announced last year that its merchandise would be available for purchase with cryptocurrency. Benfica accepts Bitcoin (BTC) and Ethereum (ETH), as well as UTRUST token (UTK).

>> Bitcoin Suddenly Crashes 8% as Momentum Fades After the Recent Rally

However, Juventus has arguably the biggest fan base out of all the clubs mentioned, thanks to an overflowing trophy cabinet and several high-profile players, including Ronaldo, Paulo Dybala, and Matthijs De Ligt. The 35-time Italian champions currently sit one point clear of Lazio in Serie A.

Featured Image: DepositPhotos © aa-w

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Cryptocurrency Mainstream Adoption | Is Ebay the Answer?

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Mainstream adoption

Mainstream adoption

Are we on the verge of mainstream adoption for digital currencies? The list of companies accepting payment in Bitcoin is steadily growing and now one of the biggest e-commerce sites is hinting at joining that list. Global e-retailing giant, Ebay, has stirred rumors via its latest promotional adverts.

Let’s check this out.

Mainstream Adoption – Ebay to Support Digital Assets?

At the Consensus conference in New York, Ebay’s banners suggested the company is about to enter the cryptocurrency space.

In a photo leaked on Telegram channel @PatronsOfTheMoon, the two banners read the following:

“Virtual Currency. it’s happening on Ebay”.

And:

“Reach 179 million active buyers in the world’s largest marketplace”

The photos have caused a stir, because if eBay is readying support for virtual currencies then it would be a major breakthrough for mainstream adoption. Bitcoin would be opened up to a network of potentially 180 million buyers.

Captured by @PatronsOfTheMoon

But don’t get too excited just yet. The company has yet to confirm that the posters are legitimate and hasn’t made any official statement regarding its cryptocurrency plans.

Other Mainstream Adoption

Ebay isn’t the only major brand hinting at mainstream adoption. Elsewhere, a new initiative is aiming to make big name retailers such as Crate and Barrel, Nordstrom, and Amazon’s Whole Foods, accept Bitcoin and three other types of digital currency.

The initiative comes from a partnership between payments startup, Flexa, and Gemini crypto-exchange. The pair have created a cryptocurrency payments app called Spedn.

The app is already active and works by “piggy-backing on the digital scanners that many big retailers use to accept phone-based payments from their apps and from digital wallets like Apple Pay”.

>>uBUCK Technologies Announces Strategic Partnership With U.S. Prepaid Platform PreWay

The partnership has asked various major retailers to “configure their scanners to recognize payments” from the Spedn app. Then a customer simply pays with the app and the merchant will receive a real-time payment in the form of the customers choosing—either cryptocurreny of dollars.

The app holds support for Bitcoin, Bitcoin Cash, Ethereum and, the Gemini Dollar stablecoin. Currently, the app is still under experiment by the retailers that are using it. As such, it remains to be seen if it will be a success.

The volatility of Bitcoin and the risk of hacking, has always been a major issue that has culled mainstream involvement. But might Spedn work? What do you think? Is mainstream adoption on the horizon?

Featured Image: Deposit Photos/hello.artmagination.com

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Bitcoin Rewards | Safeway Partners with Lolli to Give BTC to Customers

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Bitcoin SV

Bitcoin Rewards

Safeway will soon reward customers with up to 3.5% back in Bitcoin on all their purchases. The grocery chain has partnered with Bitcoin rewards shopping app Lolli in a bid to make Bitcoin a “part of everyday life.”

Safeway and Bitcoin Rewards

The new partnership, announced earlier today, has come as a surprise. Safeway announced that the new initiative will be available at all of its 894 locations in 17 American states.

The system will reward customers with Satoshis, or one hundred millionth of one Bitcoin. In other words, a minute amount of cryptocurrency that will amount to 3.5% of the value of their spend on that given day.

Put BTC into the Hands of the Masses

Lolli CEO Alex Adelman has stated that by teaming up with a major grocery chain, Bitcoin will fall into the hands of those that otherwise may never own it. In this way, the initiative should help the adoption of the world’s largest digital asset by market cap.

In an interview with Yahoo Finance, Adelman said that teaming up with “one of the most well-recognized food retailers in the United States […] will give people the ability to get involved in holding and owning Bitcoin—perhaps for the first time.”

Adelman continues to say that giving Bitcoin rewards is a proactive way of getting Bitcoin into the “hands of the masses.”

He also continued by saying that Bitcoin offers shoppers a better store of value than more traditional fiat currency-denominated loyalty cards. He likened the initiative to a savings account that could return lucratively to long-term holders:

“Points, as you know, are deflationary, and Bitcoin is non-deflationary, so I think it’s a better store of value than an arbitrary points system.”

>> Ripple’s XRP Outperformed in Q2 2019 as the Token Seeks More Transparency

About Lolli

According to its website, Lolli is “the first bitcoin rewards application that lets people earn & own bitcoin when they shop online.”

The platform already has over 500 partners. When a customer buys from a partner site, Lolli receives a percentage of the sale. It then splits that percentage with the shopper, returning it as Bitcoin to the shopper’s personal Lolli wallet.

The service recently added major booking website Hotels.com to its partners list.

Do you think offering Bitcoin rewards will help to “normalize” Bitcoin for people?

Featured Image: DepositPhotos © Afotoeu

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Mark Zuckerberg to Testify Before Congress Over Libra

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Libra

Libra

Facebook CEO Mark Zuckerberg will defend the proposed Libra cryptocurrency in a testimony before the House Financial Services Committee on October 23.

The highly scrutinized proposed cryptocurrency, which is being led by Facebook (NASDAQ:FB), has come under fire from regulators on both sides of the Atlantic due to its potential threat to monetary sovereignty. Now, Zuckerberg must defend the plans before US lawmakers for a third time when he speaks at a hearing entitled “An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors.” Previously, Libra had been debated during meetings of the House Financial Services Committee and the Senate Banking Committee in July.

The committee is chaired by Maxine Waters, a Democrat from California, who drafted the “Keep Big Tech Out of Finance Act,” which aims to prevent online platforms with an annual revenue of at least $25 billion USD from either becoming or affiliating with financial institutions, as well as preventing them from issuing their own cryptocurrencies. While this bill is clearly targetted at Libra, analysts have been critical of the more far-reaching effects it may have. Arcata described it as a “knee-jerk reaction to Libra [that] could have an impact on blockchain adoption more generally.”

>> Bakkt Futures Trade Volume Soars 800% After Slow Start

Libra has been a hot topic of conversation in Europe as well. Valdis Dombrovskis, who has recently been appointed Executive Vice President of the European Commission, said in his bid for that role that the EU needs to take a common approach towards designing regulations for cryptocurrency. He singled out Libra in particular, saying “for instance, Europe needs a common approach on crypto-assets, such as Libra. I intend to propose new legislation on this.”

Libra was dealt another major blow today after eBay, Stripe, and Mastercard all withdrew from The Libra Association, the consortium of businesses backing the project. Their withdrawal comes just days after PayPal backed out of the project, adding further doubt as to whether the project will ever come to fruition.

Featured Image: DepositPhotos © BiancoBlue

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