Randall Crater, Founder of “My Big Coin” Sentenced

Randall Crater, the person responsible for operating the fraudulent scheme known as “My Big Coin,” was given a sentence of one hundred months in prison and was ordered to make restitution payments totaling more than seven and a half million dollars to those who had lost money as a result of his scheme.

According to a statement that was released by the United States Department of Justice on January 31, the United States District Court Judge Denise Casper in the state of Massachusetts was the one who handed down the sentence that was given to Crater.

This sentence was handed down to Crater after he was found guilty by a federal jury on July 21 of four counts of wire fraud, three counts of unauthorised monetary transactions, and one count of operating an unregistered money-transmitting corporation. All of these charges were related to the same scheme. After adding up all of these fees, it became clear that Crater was running an unlicensed money transmission business.

Crater launched My Big Coin in 2013, and despite the fact that it was never intended to be a payment mechanism for cryptocurrencies, the company promoted itself as such. This resulted in the solicitation of potential victims between the years of 2014 and 2017, and the con was carried out right up to 2017.

According to Crater, the digital currencies that are available for purchase on My Big Coin are fully operational tokens that are backed by gold. Furthermore, the website has a collaboration with Mastercard to facilitate transactions.

In addition, Crater provided its users with access to a marketplace known as “My Big Coin Exchange,” which was promoted as a location at which users could trade their cryptocurrencies for fiat currencies such as the United States dollar and other currencies.

A substantial percentage of the $7.6 million in finance that Crater and his marketing team were successful in generating was used for the acquisition of a residence, many automobiles, and more than one million dollars’ worth of antiques, artwork, and jewellery.


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The Metaverse Enjoys Potential to Revamp Existing Brand Marketing, HashCash CEO Says

Thanks to a 7,200% surge in internet search volumes last year, the metaverse will be a revolutionary innovation that will reshape brand marketing, according to HashCash Consultants CEO Raj Chowdhury.

Chowdhury acknowledged:

“A captivating and innovative user experience must gain priority in brands planning to explore and implement metaverse marketing strategies. Revenue generation and process viability are crucial, but in the end, the definition of marketing success needs to be distinct and original.”

As an unexplored frontier with significant capabilities for marketers, Chowdhury believes enterprises should leverage the metaverse by coming up with unique brand-building, effective channels for revenue generation, and the latest marketing trends.

Therefore, marketers should roll up their sleeves by incorporating strategies for immersive world experiences if they are to succeed in revenue generation and brand building in the metaverse.

Chowdhury pointed out:

“The gradual transition towards consumer-led brand marketing contributes heavily to metaverse community growth. Enterprises venturing into the metaverse need to determine their marketing goals and the best platforms for converting their ideas of client-user experience into virtual reality.”

Since the metaverse integrates virtual reality (VR) and augmented reality (AR), it exists in real-time, and its economy is powered by cryptocurrencies and non-fungible tokens (NFTs).

Furthermore, the metaverse seeks to revolutionize various sectors. For instance, Usain Bolt, the 8-time Olympic gold medalist and 11-time world champion teamed up with Step App to take fitness and exercise a notch higher by incorporating Web3 and the metaverse.

Step App, a FitFi platform, revealed plans to build a gamified metaverse for the fitness economy to generate a healthier world through Web3, Blockchain.News reported. 

Image source: Shutterstock


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Kia America Deploys NFTs in New Creative Campaign Debuting the New 2023 KIA Soul Model

Kia America, a leading automotive brand, has launched a new creative campaign featuring non-fungible tokens (NFTs) for its iconic 2023 Kia Soul model.


Per the announcement:

“The 30-second spot features NFTs as talent and incorporates a unique QR code embedded into the creative.”

Therefore, viewers will have the opportunity to attain one of the 10,100 Kia-themed NFTs by scanning the QR code using their smartphones. Afterward, the NFTs will be stored in their Sweet blockchain wallet.


Russell Wager, Kia America’s marketing vice president, stated:

“With its iconic style, endless adaptability, capability, and advanced technology, Soul redefined the boxy small-car segment when it was first launched in 2009 and has steadily evolved to appeal to customers across generations with its edgy good looks, practicality, and efficiency.”

The 10,100 Kia NFTs draw inspiration from the DASK digital collectibles and the new 2023 Kia Soul. Wager pointed out:

“The Soul is as individualistic as the NFTs are, and as a brand, Kia is always innovating to stay on the cutting edge.”

Kia’s creative agency called David&Goliath developed the NFTs, which are expected to spur innovation in the automotive brand. 


Ben Purcell, the chief creative officer at David&Goliath, noted:

“With Kia, we want the work to be as innovative as the vehicles. So we thought, what if we could be the first to take a few NFTs for a ride? Living, breathing, and of course driving, like never before.”

The NFTs are anticipated to offer viewers a Web3 experience. Tom Mizzone, the CEO and founder of Sweet, acknowledged:

“It’s a significant milestone for mass adoption since it marks the first NFT drop embedded into a national TV commercial. As such, it will be seen by millions of people, many of whom are experiencing the world of Web3 for the first time.”

Meanwhile, Han Sung Motor, a South Korean imported car dealer, recently rolled out NFTs to offer customers a secure and convenient experience based on the option of checking car details using their smartphones.

Image source: Shutterstock


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Stop listening to celebrities for financial advice, says Binance Super Bowl campaign

From NFL players accepting their salaries in cryptocurrency and Tom Brady founding his own NFT marketplace to the NFL providing Super Bowl attendees with customized NFTs, the National Football League and the blockchain community seem to have embraced each other.

As Super Bowl LVI approaches this Sunday, there is one thing fans can be sure to expect: crypto ads. One marketing campaign led by Binance, the largest global exchange by trading volume, warns fans about taking these anticipated crypto commercials to heart, and uses celebrities to make its point. 

Last week, Binance released its first video featuring Miami Heat Forward Jimmy Butler who said that “I can give you advice on a lot of things. Your money isn’t one of them.” He warns viewers that they will be told “to get into crypto” by a lot of people, but should heed that call by doing their own research. The campaign’s slogan is “trust yourself” instead of trusting the celebrities on screen.

This series of ads are calling upon game spectators to sound Binance’s #CryptoCelebAlert at CryptoCelebAlert.com for every commercial aired during the game with a celebrity talking about crypto. An incentive to do so includes the ability to claim one of 2,222 POAP NFTs featuring Jimmy Butler. 

The latest celebrity to join the campaign is reggaeton star J Balvin. In his video released Monday he said, “Don’t ask me” about crypto because he is learning too. He even admits to feeling “dumb” about being looked to for crypto advice. 

Via a VIP-filled partnership, Binance’s ultimate aim appears to be to direct new users to its own platform, as well as to the educational crypto primer tools on its website. According to the company, the campaign’s next protagonist will be mixed martial arts fighter Valentina Shevchenko.