A total of eight trademark applications for “F1” reveal Formula 1’s plans to enter the virtual world. This and more news in this handy daily roundup so you’re always up to date with the latest events happening within the crypto world.
Formula 1 prepares to enter the Metaverse
📍A total of eight trademark applications for “F1” reveal Formula 1’s plans to enter the virtual world. As usual, USPTO-licensed trademark attorney Mike Kondoudis shared the news on his Twitter account.
According to Kondoudis, Formula 1 has submitted a total of eight trademark applications for the F1 Metaverse to the USPTO, the United States Patent and Trademark Office.
The applications reflect Formula 1's interest in opening retail stores for goods in the virtual world, adopting blockchain technology to create NFT collections, promoting the use and trade of cryptocurrencies, crypto mining and other activities related to new technologies and Web3.
Google to Custody and Accept Crypto Payments Next Year
📍Google announced a strategic alliance that will allow it to hold cryptocurrencies and accept payments with crypto assets in 2023. In a Press release, the internet services company reported that it has partnered with Coinbase and will adopt several of its solutions and products to offer new services to its institutional and merchant clients.
In the statement, the company detailed that it will expand its cryptocurrency offering by accepting payments with these digital assets in selected services; it also plans to provide cryptocurrency custody options to its institutional clients.
Coinbase, for its part, will begin using Google Cloud cloud services.
edX will educate about the Polkadot ecosystem
📍Online learning platform edX will educate about the Polkadot blockchain ecosystem in partnership with the Web3 Foundation. edX is welcoming blockchain technology and Web3 through a new course called WebX, which will focus on educating its students about new technologies and the Polkadot digital ecosystem.
In a statement, the online learning platform and the Web3 Foundation detailed that Web3X will cover various topics, such as the Substrate blockchain framework and the Rust programming language that this blockchain uses. It will also educate about the fundamentals of the decentralized web and blockchain technology in general.
Web3X will consist of a total of four modules. The training begins on October 27 and there is a free version available for all those interested.
SEC investigates NFT creator Yuga Labs
📍One of the largest NFT creators, the company Yuga Labs, is under investigation by the US Securities and Exchange Commission. According to a report As reported by Bloomberg, the US regulator is targeting Yuga Labs and its popular Bored Ape NFT collections.
The SEC reportedly suspects that the NFTs created by the company could be violating U.S. securities laws, and is currently investigating whether these digital assets were sold as unregistered securities. According to Bloomberg, the investigation is in response to efforts by Gary Gensler, the current SEC chairman, to ensure that cryptocurrencies and digital assets comply with regulations set forth in the country.
However, a spokesperson for the NFT company noted that regulators have become more interested in the crypto ecosystem and Web3 and are working to understand how it works. The Yuga Labs spokesperson said the Miami-based company is fully cooperating with the agency.
Currently, Yuga Labs' two most popular NFT collections, Bored Ape and Mutant Ape, have traded a total volume of 1,13 million ETH (about $1.450 billion) since its launch, according to data from the NFT marketplace Opensea.
Continue reading: Van Gogh already has his own NFT collection
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