Tag: Sport

LinksDAO and Spey Bay Golf Club

by Blockchain News

LinksDAO, a golf business run by a decentralized autonomous organization, is considering making a bid to buy the recently placed up for sale Spey Bay Golf Club in Scotland, which is estimated to be worth approximately $900,000.

After a few weeks of informal discussion, the proposal vote was officially opened on February 20 by LinksDAO, which describes itself as a “global group of golf enthusiasts” with the goal of building the “world’s greatest golf community.” This event followed the official opening of the vote on February 20.

It would be the very first time that the DAO has ever purchased a golf course.

At the time this article was written, more than 88 percent of the 4,100 LinksDAO tokenholders had already voted in support of the proposal. The voting period will officially end on February 22 at 12:00 p.m. Eastern Time.

The proposal stated that the LinksDAO acquisition committee will meet with the relevant parties required to construct a “compelling offer” for the purchase of the club “with the full intent of successfully purchasing the golf course” in the event that the final tally remains in favor of the purchase.

The authors of the proposal, who identified themselves as “Bez,” “Jim,” “cbruce,” and “nickwalkermsu,” explained that even though the majority of the DAO’s research efforts have been focused on locating an appropriate golf course purchase in the United States, “this listing was too special to ignore.”

“During the course of our hunt for a golf course to buy, we came across a potentially advantageous piece of real estate in Scotland known as the Spey Bay Golf Club. The purpose of this vote is to decide whether or not we should proceed with making an offer and working toward purchasing the course.

The writers also said that the course is “playable now,” and they mentioned that the course’s high ceiling in comparison to its inexpensive price makes it a worthwhile investment.

According to the authors’ explanation, “even a price that is quadruple the ‘recommended price’ would be lower than most subpar courses we have reviewed so far in the United States.” 

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Paul Pierce settles with SEC for $1.4 million

by Blockchain News

A former NBA player named Paul Pierce has reached a settlement with the United States Securities and Exchange Commission in the amount of $1.4 million on allegations that he promoted a cryptocurrency token project on social media.

Pierce is accused of promoting EthereumMax (EMAX) tokens via social media platforms without revealing that he had received money for the promotion and of making “false and misleading representations” about the project, according to an announcement released by the SEC on February 17. In addition to his publishing posts on Twitter that reportedly showed incorrect information regarding revenues, promoters allegedly paid the former NBA great 244,000 worth of EMAX, as stated by the SEC.

In the past, the regulatory body for financial markets has gone against celebrities who were pushing EthereumMax tokens. Pierce was accused of failing to disclose a payment of $250,000 to publish a story on her Instagram promoting EMAX tokens. In October 2022, the SEC announced that it had reached a settlement with Kim Kardashian in the amount of $1.2 million for charges that were very similar to those that Pierce was facing.

SEC Chair Gary Gensler stated that “this case is yet another reminder to celebrities: The law requires you to disclose to the public from whom and how much you are getting paid to promote investment in securities, and you can’t lie to investors when you tout a security.” “This case is yet another reminder to celebrities that the law requires you to disclose to the public from whom and how much you are getting paid to promote investment in securities,” “When celebrities advocate investment options, including crypto asset securities, investors should be cautious to do research to see whether the investments are suited for them, and they should be aware of the reasons why celebrities are making such recommendations,”

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Chiliz Launches Layer-1 Blockchain to Support Growth

by Blockchain News

Chiliz, a platform for fan tokens, has now announced the launching of its very own layer-1 Ethereum Virtual Machine (EVM) compatible blockchain environment. This move was made to allow the network to continue expanding five years after its first appearance.

The Chiliz fan token ecosystem has been propelled by ERC-20 tokens that are based on Ethereum since since the project’s launch. However, after the genesis block of the Chiliz 2.0 blockchain has been successfully validated, the community will shift to its very own layer 1.

It is anticipated that the new blockchain, which uses a network of 11 active validators and a proof-of-stake authority consensus, will result in shorter block times, cheaper fees, and reduced energy consumption. These benefits will be realized as a result of the use of a proof-of-stake authority consensus.

According to the documentation that was published by the project, Chiliz Chain 2.0 is a hard fork of BNB Chain. BNB Chain is a well-known option for Ethereum forks. This shows that the new layer-1 is compatible with EVM, a feature that is intended to persuade developers of decentralized apps to create their applications inside the ecosystem rather than outside of it.

Chiliz has become well-known in the fields of both sports and entertainment thanks in large part to the success of the fan token app known as Socios. The platform works with some of the most successful teams and businesses in the industry of sports to provide its users with the best possible experience. Some of the most prestigious football clubs in the world, like Barcelona, Paris Saint-Germain, Manchester City, Arsenal, and Juventus, are among the teams who use the platform to handle the tokens of its supporters.

Non-fungible tokens (NFTs), fan tokens, and tickets that are compatible with Web3 may be minted on the platform, making it useful for corporations, teams, and people. In addition, users have the ability to build decentralized apps (DApps) by combining Web3-based experiences and products.

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Crypto Companies Will Reportedly Have No Presence During Super Bowl LVII

by Blockchain News

It has been claimed that viewers of the Super Bowl LVII, which will take place on February 12 and will feature a matchup between the Kansas City Chiefs and the Philadelphia Eagles, will not witness an abundance of commercials for cryptocurrency firms, as they did in 2022.

According to a report published by the Associated Press on February 6, there had been four potential deals with cryptocurrency firms for commercials in the 2023 Super Bowl that would have cost approximately $6 to $7 million. However, all of these deals fell through after FTX filed for bankruptcy in November. According to reports, the senior vice president of ad sales for Fox Sports, Mark Evans, said that large cryptocurrency firms will have “zero presence” on February 12, when about 100 million people might be tuned in to watch the football game.

Companies like as FTX, eToro, Crypto.com, and Coinbase all aired their first advertisements at Super Bowl LVI in 2022. In the FTX commercial that aired approximately nine months before the company filed for Chapter 11 bankruptcy and former CEO Sam Bankman-Fried was charged with fraud, comedian Larry David is heard telling customers “don’t miss out” on cryptocurrency. This occurred around the same time that Bankman-Fried was charged with fraud.

Later on, David was included as a defendant in a class-action complaint that said he misled investors by promoting a cryptocurrency exchange without first doing enough research. Other well-known people, including as Matt Damon, who supported Crypto.com, and Naomi Osaka, a tennis star, who backed FTX, have also been subjected to criticism for their involvement in the cryptocurrency industry.

In contradiction to the information provided by the AP, the gaming startup Limit Break said on February 6 that it would broadcast an interactive advertising during Super Bowl LVII, during which it intends to give out nonfungible tokens (NFTs) with a dragon motif. The advertisement would apparently not depict a famous person, but rather it will have a QR code that viewers may scan.

After the cryptocurrency market crashed in 2022 and several companies, including FTX, Voyager Digital, BlockFi, and Celsius Network, declared bankruptcy, numerous authorities throughout the world began cracking down on cryptocurrency advertisements. According to recent reports, the Federal Trade Commission of the United States has initiated an inquiry into many cryptocurrency companies for “potential misbehaviour affecting digital assets.” The governor of the Central Bank of Ireland said in January that he would support legislation that would prohibit the advertising of cryptocurrency projects to persons under the age of 18.

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US national figure skating body adopts Bitcoin donations

by Cointelegraph

The United States national governing body for the sport of figure skating, the U.S. Figure Skating, is the latest organization in the country to enable donations in cryptocurrencies like Bitcoin (BTC).

The association has partnered with the enterprise-level donation platform Engiven in order to start accepting donations and gifts in cryptocurrency, the U.S. Figure Skating announced on Tuesday. The organization initially revealed its plans to enable cryptocurrency donations in September 2021.

The new donation payment option is immediately available on the U.S. Figure Skating’s website via Engiven’s platform, featuring donations in major cryptocurrencies like BTC, Ether (ETH), Dogecoin (DOGE), as well as stablecoins like USD Coin (USDC) and PAX Gold (PAXG).

“U.S. Figure Skating now allows gifts of cryptocurrency for any of its major funds. Gifts of cryptocurrency are eligible for tax relief and can help U.S. Figure Skating to create programming for athletes,” the association’s website reads.

According to the announcement, Engiven automatically exchanges donated crypto into the United States dollar, transferring the funds immediately to U.S. Figure Skating. “U.S. Figure Skating is the first national governing body in the U.S. that will accept gifts in multiple cryptocurrencies,” the announcement notes.

Related: Crypto donations jumped nearly 16x in 2021, new report says

U.S. Figure Skating executive director Ramsey Baker noted that the introduction of the donation options comes in line with the association continuing to look for new and innovative ways to provide funding to its athletes, clubs, programs and initiatives.

“Allowing our supporters to give to U.S. Figure Skating using cryptocurrency makes sense in today’s quickly changing financial marketplace.”

Baker added that the more avenues available for current and new donors to support the organization, the more U.S. Figure Skating would be able to directly support the athletes and the many programs that serve its members.