Tokenisation firm Securitize Enters Spain, Meta CEO Confirms Commitment To Metaverse

Here are some developments in the crypto world over the past few days
Tokenisation firm Securitize Enters Spain, Meta CEO Confirms Commitment To Metaverse

Securitize, a US-based financial technology company and tokenisation firm, entered the Spanish General Secretariat of the Treasury and International Finance's test environment, a platform for digital asset securities.

With this move, the firm has ventured beyond the US market by introducing tokenised securities in other regions, as per Decrypt's report. Tokenisation, converting traditional financial assets like stocks and bonds into blockchain-based assets, is expected to lower costs and enhance efficiency. The trend has gained support from BlackRock CEO Larry Fink, who said, "The next generation for markets, the next generation for securities, will be tokenisation of securities." 
"This is a pivotal moment for us because we have been working tirelessly to obtain the same kind of licenses in Europe that we have in the USA," Decrypt quoted Amparo Garcia Flores, CEO of Securitize Europe Brokerage and Markets, as saying.

Meta Remains Committed to the Metaverse: Mark Zuckerberg

Meta (META) head Mark Zuckerberg on July 27, 2023, said that the company remains dedicated to the metaverse, despite its public shift towards artificial intelligence. Mark Zuckerberg reaffirmed their ongoing investments in AI and their unwavering commitment to the metaverse vision in an earnings call, Coin Desk reported.

"Our investments in AI continue. We remain fully committed to the Metaverse vision as well. We've been working on these two major priorities for many years in parallel now, and in many ways, the two areas are overlapping and complementary," the report quoted Zuckerberg as saying.

Coin Desk reported that the focus on the metaverse hasn't been profitable for the social media giant as it continues to lose billions of dollars due to the initiative. In 2022, Meta's Facebook Reality Labs (FRL) division, responsible for the metaverse, lost $13.7 billion on revenue of $2.2 billion, up from a loss of $10.2 billion on revenue of $2.3 billion in 2021.

Reddit Releases More NFTs After Minting 18 Mn Avatars

Online discussion platform Reddit presents a new "Retro Reimagined" offering as part of its Collectible Avatars Gen 4 drop. The prominent player in NFT space is making a move after having minted over 18 million Polygon-based Collectible Avatars in the past year, says a Decrypt report.

Reddit has quickly become one of the biggest brands tied to NFTs and is pulling together an array of artistic riffs on the site's iconic "Snoo" alien mascot from dozens of creators, the report adds. In addition, the drop includes NFTs based on the Cool Cats profile picture (PFP) project and artist Micah Johnson's Aku NFT character.

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