Your weekly Crypto, NFT & Metaverse readings 🚀

🪙 Crypto Market News

YouTube Gaming chief leaves for Polygon project. The head of YouTube Gaming, Ryan Wyatt, will soon be leaving his post at the Google-owned tech company. Starting in March, Wyatt will become the CEO of Polygon Studios, a new venture dedicated to building on the Ethereum sidechain Polygon. Despite YouTube’s own growing interest in blockchain and NFTs, Wyatt says it’s time for a new venture. “I came to YouTube almost eight years ago to help give gamers a voice and represent the gamer’s needs every day,” Wyatt wrote on Twitter. 📰 Decrypt

Bank of America says U.S. digital currency is “inevitable”. Central bank digital currencies are “the inevitable evolution of today’s electronic currencies” and one in the U.S. could be released as soon as 2025, Bank of America said today. The bank said in a Monday report titled “U.S. CBDC: First Step in a Long Journey” that a central bank digital currency (CBDC) would differ from existing digital money available to the general public because it would be a liability of the Federal Reserve — and this would mean no credit or liquidity risk for the digital currency, according to the bank. 📰 Decrypt

Biden administration to release executive order on crypto as early as February. The Biden administration is readying an executive order for release as early as next month that will outline a comprehensive government strategy on cryptocurrencies and ask federal agencies to determine their risks and opportunities. The directive would place the White House in a central role overseeing efforts to set policies and regulate digital assets, Bloomberg reported. Federal agencies have already been studying or providing regulatory guidance around the digital asset sector for years. 📰 Bloomberg

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🖼️ NFT & Metaverse News

Compliant NFTs for China are here. The Blockchain-Based Service Network (BSN), China’s state-sanctioned blockchain infrastructure project, said it is releasing its platform for non-fungible tokens in the country today. The BSN-Distributed Digital Certificate (BSN-DDC) network is a structure for building NFTs that is compliant with Chinese regulations, the organization said in a press release. Authorities in China discourage public networks like Ethereum that are commonly used in the NFT ecosystem. 📰 Coindesk

Adidas Originals and Prada Announce Collaborative User-Generated NFT Project. Adidas Originals and Prada have united for a new, innovative metaverse collaboration. Inspired by the pairs’ physical Re-Nylon collection, the two fashion powerhouses have announced a new community-based NFT project called the Adidas for Prada re-source. For this, Adidas and Prada’s third-ever collaboration, the two companies have launched a first-of-its-kind NFT endeavor that will feature user-generated and creator-owned art. Starting Jan. 24, anyone who registers for the re-source using a digital wallet will be invited to submit a photograph, using a filter designed by digital artist Zach Lieberman, to create their own individual creative contribution. 📰 NFT Now

Neymar bought two Bored Apes for USD 1 million. TThe Brazil and PSG superstar made another splash in the world of blockchain technology and NFTs this week with over $1 million in Bored Ape Yacht Club purchases. This was an absolutely smashing entrance into the BAYC community, whose celebrity ranks already include the likes of Stephen Curry, Serena Williams, Snoop Dogg, Mark Cuban, Eminem, and Jimmy Fallon. 📰 Boardroom

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Rizvi Haider

Rizvi Haider

Entrepreneur and crypto enthusiast