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Crypto Morning Briefing: U.S. IRS Seeks to Tax NFTs Like Other Collectibles

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Top Stories

Magic Eden, Solana's Largest NFT Marketplace, Adds Bitcoin Ordinals Support for On-Chain Media Storage

The largest Solana-based NFT marketplace, Magic Eden, has announced support for Bitcoin Ordinals, a protocol that enables the on-chain storage of media on the Bitcoin blockchain without the use of smart contracts.

U.S. IRS Seeks to Tax NFTs Like Other Collectibles

The U.S. Internal Revenue Service is considering whether to tax non-fungible tokens (NFTs) on a par with other collectibles such as stamps, works of art and fine wine, in a move likely to have an impact on those including the digital assets within their retirement plan, according to a document published Tuesday.

Sony Files Patent For NFTs To Allow Transfers Between Games and Consoles

Entertainment and gaming console giant Sony Interactive Entertainment has filed for a patent that would make non-fungible tokens (NFTs) transferable between different games and consoles.

Google Releases Bard AI, Its ChatGPT Counterpart

Alphabet’s Google said it is opening access to its experimental generative AI tool ‘Bard’. This was earlier announced by the company after the success of OpenAI’s AI chatbot ChatGPT. Bard is touted by Google as a tool that brings helpful AI experiences to people, businesses and communities. In a latest blog, the Google AI tool shows an example interaction on ways to read 20 books an year.

Justin Sun Welcomes Hong Kong’s Extended Support to the VA Industry

Hong Kong is confident of becoming a hub for the virtual asset sphere in the coming years. What brings this confidence is the role that the government of Hong Kong has assumed over the recent months amid the rise in the adoption of Web3 technologies and applications. This is evident from the speech delivered by Christopher Hui, the Secretary for Financial Services & the Treasury.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $28,159.39 USD, jumped by 0.55% in the last 24 hours;

ETH’s live price is $1,771.06 USD, dropped by 1.45% in the last 24 hours;

BNB’s live price is $337.98 USD, dropped by 0.88% in the last 24 hours;

XRP's live price is $0.49 USD, jumped by 29.82% in the last 24 hours.

Fundraising News

Sushi Hit With SEC Subpoena, Seeking $3 Million USDT Legal Defense Fund

The Securities and Exchange Commission recently served Sushi and "head chef" Jared Grey with a subpoena, the decentralized finance company said on Tuesday.

Anonymous DAO Tomi Raises $40M for ‘Surveillance-Free’ Internet

Alternative internet developer tomi has raised $40 million from venture capital firms as part of a broader effort to lure content creators to its decentralized World Wide Web alternative.

CCP Games Raises $40M for Blockchain-Based Game Set in EVE Online Universe

CCP Games, the developer of the popular online role-playing game EVE Online, has raised $40m in financing to develop a new blockchain-based game set within the EVE universe.

Seed Club Ventures Emerges with $25M to Back DAOs

Seed Club Ventures has emerged from stealth with $25 million committed to investing in decentralized autonomous organizations (DAO). Organized as a DAO, Seed Club plans to back projects in the earliest stages of development.

Animoca Brands and Hex Trust’s Joint Wallet Venture Gryfyn Raises $7.5 Million

Web3 investing behemoth Animoca Brands and digital asset custodian Hex Trust have launched Gryfyn, a custodial wallet solution, in a joint venture.

Two Sigma, Flow Traders and Laser Digital Back Crypto Trading Venue CrossX

Digital assets trading firm Crossover Markets is launching a new trading venue, CrossX, to meet the liquidity requirements of institutions participating in the crypto markets.

Bitcoin Bitcoin $62,977.60
-2.11%
NFT Bitcoin Ordinals google AI Justin Sun Hong Kong
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