Daily Crypto News 29 September

 

Bacon Protocol, a decentralized mortgage lender, launched on Tuesday, allowing cryptocurrency investors to invest in the housing market via a new stablecoin backed by USD Coin (USDC) and house loans. The Bacon Protocol works by allowing homeowners to trade a lien on their home for a nonfungible token, or NFT, that represents a percentage of the home they bought. The NFT provides buyers with collateral in order to gain access to other crypto markets, such as decentralized finance (DeFi). 

 

 

According to recent analysis from blockchain firm, Chainalysis, the region of Central, Northern, and Western Europe (CNWE) has emerged as the world's most active cryptocurrency block, receiving over $1 trillion worth of digital assets over the past year. Between July 2020 and June 2021, the CNWE region accounted for 25% of worldwide crypto activity, according to the analysis. Across all crypto sub-categories, especially decentralized finance, transaction volume increased dramatically in the region (DeFi). Institutional investment has also become a hotbed in Europe, with transaction values in this category increasing to $46.3 billion in June 2021, up from $1.4 billion in July 2020.Surprisingly, the United Kingdom has the region's single largest crypto economy, with $170 billion in transactions.

 

 

The mainnet of Nahmii, a technology built to expand Ethereum with regulated institutions in mind, is now live. DARMA Capital, Aligned Capital, and Delta Fund, all ConsenSys alumni, have invested $8 million in the initiative. According to Nahmii CEO, Jacobo Toll-Messia, layer 2 networks that run on top of the Ethereum mainnet make payments faster and cheaper, but they are nowhere near the level where traditional financial institutions can use them. DARMA led a $3 million seed investment in NiiFi, a decentralized exchange (DEX) based on Nahmii with features including rapid settlement finality and know-your-customer (KYC) capabilities. Andrew Keys, managing partner of DARMA Capital, says he examines layer 2 solutions through the lens of a commodity futures trading commission-registered fund (CFTC). With the impending arrival of regulation, features like KYC'd decentralized finance (DeFi) and rapid finality, according to Keys, will become standard.

 

 

Sports Business Journal stated today that Dapper Labs, the company behind NBA Top Shot, is planning to launch a marketplace for National Football League NFTs, citing unidentified sources. As part of the agreement, the NFL and the NFL Players Association will receive shares in Dapper Labs. According to SBJ, the players' union's digital license revenue will be second only to that produced by EA Sports, the producer of the popular "Madden" video games.