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Kurt Cobain’s Final Nirvana Photoshoot to be Released as NFTs

Photographer Jesse Frohman’s iconic shots will be tokenized as crypto collectibles, including a single, full 104-image collection.

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In brief

  • Rock band Nirvana’s final photo shoot before Kurt Cobain’s death will be released as an NFT collection.
  • The collection includes a complete single-edition set of 104 images at a starting bid of 27.27 ETH.

Fans of legendary grunge rock band Nirvana and its iconic, late frontman Kurt Cobain can grab a digital piece of history next week when photographer Jesse Frohman releases images from the band’s purported final official photoshoot as non-fungible tokens (NFTs).

Dubbed “The Last Session,” the photos were taken in 1993, about six months before the singer took his own life in early 1994. The images themselves have been widely seen in the decades since, with Cobain wearing white-rimmed sunglasses, a leopard-print coat, and trapper hat, with some photos also featuring his bandmates Dave Grohl and Krist Novoselic.

An NFT is like a deed of ownership to a digital item, be it a still photo, video clip, tweet, or something else, and it can be authenticated via blockchain technology. This allows creators to sell provably scarce, limited edition digital items. NFTs have exploded in popularity so far in 2021, surpassing $1.5 billion in transaction volume in the first three months, according to DappRadar. Crypto artist Beeple sold a single piece of NFT artwork for $69.3 million via Christie’s auction in March, setting a record that has yet to be surpassed.

Available for purchase on May 3, the Cobain NFT collection is headlined by a single-edition “The Last Session” complete collection, which includes a bundle of 104 images including Polaroids, outtakes, and never-before-seen shots. The starting bid is 27.27 ETH (more than $74,000, at today’s prices). You can view all of the images on the project website, but only the winning bidder will receive the high-resolution versions.

Additionally, the sale includes 10 “Nevermind” edition NFTs, each a montage with four images featuring distinct colorization, each of which starts at 2.7 ETH (about $7,360). There will also be 100 “In Utero” NFTs spanning 20 different images with five of each education available. Those will be sold outright (not at auction) for 1 ETH each (currently over $2,700).

“Everyone was doing an individual picture here, an individual picture there, maybe a group of three here, but I wanted to do something that other people hadn’t done before,” Frohman told Rolling Stone about offering a 104-image NFT bundle. “It’s something so special that won’t be offered again.”

The NFT sale is not officially associated with Nirvana or the Cobain Estate. However, Frohman told Rolling Stone that the estate is aware of the sale, and that he will donate a portion of proceeds to the JED Foundation, a suicide prevention and mental health awareness charity that the estate is involved with.

While Nirvana is not officially involved in this particular sale, many popular musicians have turned to NFTs as an additional revenue stream. Artists such as Snoop Dogg, Grimes, and The Weeknd have released NFT artwork, while Kings of Leon released a special NFT edition of their latest album.

Even Nirvana member Grohl has been involved in an NFT drop: he collaborated with Rolling Stones legend Mick Jagger on the song “Eazy Sleazy,” which was turned into a tokenized animated video with artist Oliver “Extraweg” Latta. The single-edition sale raised $50,000 for charities benefitting music venues impacted by the COVID-19 pandemic.

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Source: https://decrypt.co/69373/kurt-cobain-nirvana-photoshoot-nfts

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Ark Invest’s Cathie Wood Joins Board of Crypto Firm Amun Holdings

The CEO of Ark Invest has joined the board for crypto technology platform Amun Holdings.

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In brief

  • Cathie Wood, CEO of Ark Invest, has joined the board of Amun Holdings.
  • Wood has also bought millions of dollars worth of Coinbase shares in recent weeks.

Cathie Wood, CEO of investment management firm Ark Invest, has joined the board of crypto company Amun Holdings, per a report published by Bloomberg yesterday. 

Wood joined the Amun board after personally investing in 21Shares AG operators, which specializes in exchange-traded products (ETPs). 

“21Shares is forging a new path for crypto ETPs by leading with research and a keen understanding of this developing asset class,” Wood said, adding, “I am thrilled to support its efforts.” 

What is Amun Holdings? 

Amun Holdings is a crypto firm and ETP provider based in Zurich, Switzerland. 

The firm currently has approximately $2 billion in assets under management; a sharp increase from its March 2020 figure of $27 million, according to CEO Hany Rashwan. 

The firm is also profitable, with annual revenue of up to $50 million being generated from a mix of institutional and retail investors. 

“We built the company to make crypto as accessible as stocks and have seen tremendous demand for our products,” Rashwan said. 

21Shares Short Bitcoin ETP is one of Amun’s offerings. It allows investors to bet against Bitcoin. In turn, the 21Sahres Crypto Basket Index tracks the top five cryptocurrencies by market value. 

Amun and 21Shares products are listed on exchanges in Switzerland, Austria, and Germany. Amun plans to list its first non-European product in the coming months. According to Bloomberg‘s report, this expansion might see as many as 30 products established in eight countries. 

This isn’t Wood’s first involvement with the crypto industry. According to The Block, Woods has bought a total of $356 million worth of Coinbase shares, first purchasing $246 million on April 15, and then buying another tranche of shares worth $110 million the following day.

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Source: https://decrypt.co/70494/ark-invests-cathie-wood-joins-board-of-crypto-firm-amun

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UBS Group Reportedly Planning to Launch Crypto Services to its Wealthy Customers

The Swiss multinational investment bank, UBS Group AG, is reportedly in the works of launching several cryptocurrency services.

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The trend of giant banks developing crypto services is expanded beyond the US with Switzerland’s UBS Group AG. The institution plans to enable its wealthy customers exposure to digital asset investments later in the year.

  • By citing people familiar with the matter, Bloomberg reported that UBS Group AG is in the “early stages of planning to offer wealthy customers digital currency investments.”
  • The bank, based in Zurich, Switzerland, with over $1 trillion in Assets Under Management, is looking into several alternatives for its crypto-related services.
  • Nevertheless, the organization has warned about the infamous volatility of the digital asset sector and will enable its clients to allocate only a “very small portion” of their total wealth.
  • One of the discussed options suggested that institutional customers will be able to receive crypto exposure through third-party vehicles.
  • Interestingly, Bloomberg’s report arrives just a few months after the financial service company working under the UBS Group AG hat – UBS Global Wealth Management – warned that the entire cryptocurrency sector could plummet to zero.
  • Before UBS Group AG, numerous US-based banks initiated steps into enabling their clients to receive exposure to bitcoin and other digital assets.
  • BNY Mellon, the oldest American bank, led the charge this year after releasing BTC custodial services. Shortly after, Morgan Stanley followed by filing to receive BTC exposure for up to 25% for 12 of its funds.
  • Even the previous bashers, Goldman Sachs and JPMorgan, showed a pro-crypto approach. Goldman filed for a Bitcoin ETF, and its clients can now trade BTC derivatives, while JPM will reportedly launch an actively managed fund following the performance of the primary cryptocurrency.
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Source: https://cryptopotato.com/ubs-group-reportedly-planning-to-launch-crypto-services-to-its-wealthy-customers/

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Data Agnostic Oracle Network ORAO Chooses TRON’s Blockchain Over Ethereum’s

By breaching the high fees on the Ethereum blockchain, ORAO has chosen to launch its general data products on top of Justin Sun’s TRON.

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The data-agnostic oracle network supporting multiple blockchains, ORAO, will launch its general data product on top of TRON. The two parties announced a partnership earlier, with ORAO claiming it chose TRON due to the significantly lower transaction costs compared to other networks.

ORAO to Launch Products on TRON

Described as a “blockchain agnostic oracle platform built to support any number of chains,” ORAO operates with protocols working on top of Polkadot, Ethereum, Elrond, and other networks. The team behind it announced the partnership with Justin Sun’s TRON in a press release shared with CryptoPotato.

The statement informs that ORAO uses a “proactive rating system” to judge data upon submission, which means that “bad and malicious data never makes it to the buyer in the first place.”

Furthermore, its data oracles provide a wider variety of secure information working at high speeds – from local weather to the outcome of football matches and elections.

“One of the key strengths of ORAO are our Predefined Data Protocols, which greatly expand the variety of data products that providers can offer. However, while they make for fantastic flexibility, the fact remains that many of the data products they support would not be economically viable on a platform that is mired in congestion issues.” – commented Nikola Strahija – founder of ORAO.

The integration on TRON comes after the team examined other alternatives, including Ethereum. However, the notoriously high transaction fees and the “increased congestion,” which leads to a “growing need for a fast, scalable, and affordable base layer solution,” made TRON the most accurate option.

TRON’s Rapid Growth

Upon further explaining the decision to go with TRON, Strahija described Justin Sun’s brainchild as a “rapidly growing powerhouse” in the market.

The partnership between the two will also enable TRON users to receive data from other networks due to ORAO’s blockchain agnostic features.

“DeFi and crypto should not be limited to high net worth portfolios who can afford congestion pricing. We are seeing a rising trend of many top Ethereum projects moving to TRON. We are thrilled for ORAO to join the TRON Network and reap the benefits of a fast, affordable, and agile network.” – said Sun.

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Source: https://cryptopotato.com/data-agnostic-oracle-network-orao-chooses-trons-blockchain-over-ethereums/

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South Korea to Examine Altcoin Listings on Exchanges Due to High Risks

In order to reduce the potential risks for investors, South Korea’s officials will look into the listing processes of altcoins on exchanges.

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The significant rise of the altcoins in price and popularity has raised concerns among South Korean officials. The nation’s bank association has advised its members to investigate the rapidly growing number of alternative coins available for trading on crypto exchanges.

South Korea Warning for Altcoins

Although bitcoin is well in green since the start of the year, 2021 is so far going towards the altcoins. Multiple coins have skyrocketed in value in recent months, leading to consecutive all-time highs – just for reference, five out of the top ten marked new records in the past 24 hours alone.

Furthermore, others that seemingly have little-to-no value behind them, like Dogecoin and copycats such as SHIBA INU, have blossomed after reaching the main stage. Double- and even triple-digit returns have become the “new normal,” which attracts the masses.

Taking advantage of these trends, crypto exchanges are rushing to list the new hot coin. This seems to have become a real issue in South Korea, though, according to a local report.

It informed that the bank association believes the rapidly growing number of altcoins on local exchanges is increasing the risks for investors. Consequently, it advised its members to examine the listing processes to “gauge the trading capacity of an exchange, in an apparent move to reduce exposure to risks.”


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“One of the criteria that we recommend is the safety of digital assets, and that can be measured by the number of digital coins on an exchange. If an exchange deals with too many digital assets, it takes on more risks.” – commented an official of Korea Federation of Banks.

The coverage outlined the rapidly growing trading volume of alts compared to bitcoin. The largest local crypto exchange – Upbit – saw a BTC trading volume of just 4.26%, while the altcoins were responsible for the remaining more than 95%.

Regulations in South Korea

The East Asian country has been quite active in terms of establishing a legislative framework around the cryptocurrency industry lately.

Back in March, the authorities implemented a new rule suggesting hefty penalty standards and fines for all virtual asset services providers (VASPs), including exchanges, that fail to report suspicious transactions and keep relevant data.

As a result, some trading venues halted their South Korean branches, including OKEx Korea and Binance Korea.

Separately, the country plans to implement a 20% capital tax on profits made by crypto trading.

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Source: https://cryptopotato.com/south-korea-to-examine-altcoin-listings-on-exchanges-due-to-high-risks/

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