Web3 🌘 Thursday Innovation: Spot Bitcoin ETF, Norman Rockwell NFTs, Marathon's New Custody Partner, and Elixir's $7.5M Series A
1/ ✅ Mike Novogratz Predicts Spot Bitcoin ETF Approval in 2023.
2/ 🎨 First NFT Collection of The Norman Rockwell Museum.
3/ ✨ Bitcoin Miner Marathon Adds Fidelity Digital Asset as Second Custody Partner.
4/ 💰 DeFi Protocol Elixir Secures $7.5 Million in Series A Funding.
For further details, let's keep reading! 👇
Welcome to today's blog post!
This blog post will cover recent news stories in the crypto and blockchain space: Mike Novogratz, CEO of Galaxy Digital, predicts that a spot bitcoin ETF will be approved in 2023. The Norman Rockwell Museum is launching its first NFT collection, featuring never-before-published works and insights into the artist's creative process. Bitcoin miner Marathon Digital is adding Fidelity Digital Asset as a second custody partner to diversify its bitcoin holdings. DeFi protocol Elixir has raised $7.5 million in Series A funding to expand its team and accelerate development.
In the following sections, let's take a closer look at each of these stories and explore their implications for the crypto and blockchain space.
1/ Mike Novogratz Predicts Spot Bitcoin ETF Approval in 2023. ✅
Galaxy Digital CEO Mike Novogratz is optimistic about the approval of a spot bitcoin ETF in 2023. He believes that the SEC is having more constructive discussions with ETF issuers and that there is a strong public demand for such a product. Novogratz's comments come after BlackRock CEO Larry Fink expressed support for a spot bitcoin ETF, and Fidelity amended its spot bitcoin ETF filing.
If a spot bitcoin ETF is approved, it would allow investors to gain exposure to bitcoin without having to purchase and store the cryptocurrency directly. This could lead to a significant increase in investment in bitcoin and help to legitimize the asset class.
Jamie Redman
2/ First NFT Collection of The Norman Rockwell Museum. 🎨
The Norman Rockwell Museum and the Norman Rockwell Family have announced the launch of a multi-part NFT collection titled "Studio Sessions: The Norman Rockwell Collection." The series will feature several never-before-published images and works from the Norman Rockwell archives, as well as peeks at the thousands of preliminary sketches, photography sessions, drawings, and painted color studies that informed each of Rockwell's paintings.
Every "Session" as a part of the series will focus on a particular, celebrated Rockwell painting, and every NFT from the collection will come with a matching, limited-edition, museum-quality print. The collection will be released on November 1st on Iconic's website, and will be available for purchase via credit card or with Ethereum, though price points for each piece have not yet been revealed.
Proceeds from the sale will benefit the Norman Rockwell Museum's core missions of ensuring public access to Rockwell's works, nurturing a new generation of illustrators, and the Norman Rockwell Family's administration of the artist's work and legacy.
Sander Lutz
3/ Bitcoin Miner Marathon Adds Fidelity Digital Asset as Second Custody Partner. ✨
Bitcoin miner Marathon Digital is adding Fidelity Digital Asset as a second custody partner in a bid to diversify its bitcoin custody. Marathon previously held all of its bitcoin with a single provider.
Custody plays a key role in the crypto industry, as it allows firms to store their digital assets with a third party for security purposes. Having multiple custody partners can help to mitigate risk in the event that one provider is hacked or otherwise compromised.
Marathon's decision to add Fidelity Digital Asset comes after several custodians, including Fortress Trust, have been targeted by hackers in recent years. These attacks have highlighted the importance of diversifying custody arrangements.
Marathon's stock price was up 1.3% in after-hours trading following the announcement.
Aoyon Ashraf
4/ DeFi Protocol Elixir Secures $7.5 Million in Series A Funding. 💰
DeFi protocol Elixir has raised $7.5 million in a Series A funding round led by Hack VC, bringing the protocol's valuation to $100 million. The new capital will be used to expand the team and accelerate the development of infrastructure, including order book liquidity on exchanges.
Elixir is a decentralized and algorithmic market-making protocol that provides a state-of-the-art liquidity provisioning solution. The protocol's trustless algorithmic model allows for widespread participation in supplying liquidity for exchange pairs on both decentralized and centralized platforms.
Elixir also strives to share the proceeds traditionally generated from money market platforms with the token community. By incentivizing members, individuals are motivated to participate in liquidity provisioning and earn financial perks through token rewards.
The startup has revealed plans to launch a delegated proof-of-stake mechanism on the mainnet in the coming weeks, a new trajectory that could drive its growth to new heights.
Conclusion:
The approval of a spot bitcoin ETF would be a major milestone, as it would make it easier for investors to gain exposure to bitcoin without having to purchase and store the cryptocurrency directly. The Norman Rockwell Museum's NFT collection is a unique example of how traditional institutions are embracing new technologies. Marathon Digital's decision to diversify its custody arrangements is a reminder of the importance of security in the crypto industry. And Elixir's fundraising round shows that there is still strong investor interest in DeFi projects.
Stay tuned for more updates in the future!
Disclaimer: The information provided in this blog post is based on external sources. Please do your own research and due diligence before making any investment or financial decisions based on the content shared here.
