DeFI News by Thebittimes.Com

The non-fungible token market, which became oversaturated with low-quality projects and speculative investments, leading to a loss of trust among investors and enthusiasts, has started regaining a foothold again in various sectors. This time around, NFT technology is finding use cases in real life to revitalize services and delivery. Indonesia has leveraged this new technology to launch its first NFT stamps. Indonesia Launches First NFT Stamps In a recent Instagram post, the Indonesian National Post Office confirmed launching the country’s first NFT postage stamp. The Indonesian postal body unleashed its project during its 79th anniversary event in Bandung, Indonesia. The Indonesian National Post Office has joined hands with the Indonesian Ministry of Communications and Information to launch its new NFT stamps. Based on site publication, the new NFT post stamps are valued at approximately $9.90 and feature the image of the Cenderawasih bird, also known as the bird of p...

Donald Trump, the former United States President, a prominent crypto investor and the United States presidential election super candidate, has launched a new collection of digital trading card non-fungible tokens to expand the growing interplay between crypto and politics. In this article, we shall assess in detail more about this new Trump’s non-fungible token collection. Trump Launches His 4th NFT Collection On August 27, 2024, Trump, through his collecttrumpcards.com website, confirmed unleashing his fourth non-fungible token collection titled “The American First Collection.” Building on the growing interplay between crypto and politics, Donald Trump is offering a fourth collection of NFTs featuring images of the former American president disguised in different outfits. Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump is now seeking his re-electi...

Russia’s Finance Ministry official hopes that liquidity from the crypto market will help the local business to overcome sanctions pressure. Digital financial asset s (DFAs), a tokenized form of traditional financial instruments issued by Russian-only companies, appear to have failed to attract significant capital from local investors despite the Bank of Russia’s efforts to position these asset s as a better alternative to crypto . According to Russian finance ministry official Ivan Chebeskov, it is still too early to say that DFAs have raised many investments, even though the first issuance of DFAs was conducted in June 2022. As reported by the Russian state news agency TASS, the ministry is now betting on bringing investors from the crypto market, given this industry allocated enough liquidity to support Russia’s economy. “In our opinion, large investments in the digital financial asset s market will occur when we are able to combine what we call the cry...

RBZ has launched a gold-backed ZiG digital token to address currency instability and inflation. ZiG offers a stable and versatile investment option, gaining investor interest. Investors have purchased 350kg of gold through ZiG, signalling a shift from the US dollar. The Reserve Bank of Zimbabwe (RBZ) has officially launched the Zimbabwe Gold (ZiG) digital token , backed by physical gold reserves, to address currency instability and rising inflation in the country. Zimbabwe has grappled with currency instability and soaring inflation for over a decade. After hyperinflation rendered the local currency nearly worthless in 2009, the nation adopted the US dollar as its official currency. However, in 2019, Zimbabwe reintroduced its own currency, only to face renewed currency volatility. ZiG: Gold-backed cryptocurrency In April 2023, the RBZ introduced the concept of the Zimbabwe Gold (ZiG) digital token, underpinned by physical gold reserves held in the centr...