Yuga Labs CEO Nicole Muniz discussed how NFTs differ from JPEGs and highlighted that IP rights are important for creating value for holders at the Web Summit in Lisbon. Muniz also explained how Web3 gives true ownership of assets, returning fun and identities to the internet. Yuga Labs recently secured $450m in seed funding and is seeking top talent to build the next phase of the internet. In other news, Goldman Sachs, MSCI and Coin Metrics developed a digital asset classification system to increase transparency and make it easier to understand crypto. The price of XRP rose 10% in under an hour as confidence grew in the project. There were also tailwinds for Polygon, with some altcoins up over 10%. Finally, Do Kwon has been accused by South Korean prosecutors of telling workers to manipulate LUNA’s price, calling his lawyers’ claims of innocence into question.
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Yuga Labs is Hiring
Yuga Labs, the digital asset company, recently raised $450 million in a seed funding round. This brings their valuation to $4 billion. With this capital, Yuga Labs plans to create something great and build the next phase of the internet. The company is hiring top talent to achieve its goal. Yuga Labs CEO Nicole Muniz believes that Web3 gives us true ownership of assets and our own identities, thus returning the fun to the internet.
Goldman Gives Investors a Crypto Cheat Sheet
Goldman Sachs, MSCI, and Coin Metrics have launched a digital asset classification system. This system will make it easier for investors to understand cryptos and monitor market trends. The classification system is meant to increase transparency for investors. This is crucial for providing institutional clients the tools they need to invest in the emerging digital asset community.
What is Do Kwon Hiding?
Do Kwon, the founder and CEO of Terraform Labs, has been accused of telling his workers to manipulate the price of LUNA, the company’s native token. Kwon’s lawyers maintain his innocence, but South Korean prosecutors believe otherwise. They know his current location is somewhere in Europe. Kwon has been tweeting and even saying he’ll have a meetup with cops from around the world. However, he may be hiding more than just the location of the WiFi he’s using.
Market Watch
Bitcoin is up by 4.7% on the day and is currently priced at $21,154. Ethereum is up by 7% on the day and is priced at $1,644. Other top crypto projects like MATIC and Polygon have also seen significant gains. The price of XRP jumped 10% in under an hour early this morning as investors gain more confidence in the project’s future outlook. Ripple’s battle with the SEC is looking good, and the ball is in Judge Torres’ court.
