The International Monetary Fund, or IMF, plans to “step up” its monitoring of digital currencies, according to a report by Reuters. This intent, as published in an IMF paper Thursday, details how the fund plans to “manage this far-reaching and complex transition” toward a digitized economy. “Rapid technological innovation is ushering in a new era of public and private digital money,” the report reads, highlighting the benefits of digital assets. “Payments will become easier, faster, cheaper, and more accessible, and will cross borders swiftly. These improvements could foster efficiency and inclusion, with major benefits for all.” Related: IMF plans to …

Republican Senator and Bitcoin proponent Cynthia Lummis said that massive government spending is accelerating crypto adoption. Lummis made the comments while sharing an interview she did with “Varney & Co” on the Fox Business cable network on July 29, in which she called for a crypto regulatory sandbox and support to attract Bitcoin miners to set up in US states. On Twitter she stated that “big gov’t spenders are (accidentally) doing far more to accelerate the adoption of digital assets than I am,” and asserted that the debasement of the U.S. dollar is driving citizens to store value in digital …

DeFi has grown exceedingly fast — and when this happens, it’s inevitable that teething problems will emerge. Here, we talk to Piers Ridyard, the CEO of Radix. He tells us what his company is doing to address some of the main pain points in this sector — and the challenges that consumers and developers currently face. 1. Hello! Can you tell us about Radix? Absolutely. Radix is the first public decentralized network built specifically to serve decentralized finance (DeFi). This was necessary because with DeFi on Ethereum, building sucks — there have been over $285 million in hacks in the …

Years after CryptoKitties were released to the masses, the nonfungible token (NFT) sector is finally going places. Coveted collectibles are selling for millions of dollars in some of the world’s finest auction houses. Top-flight soccer and basketball teams are releasing once-in-a-lifetime moments that fans cherish. Movie studios are starting to issue NFTs as memorabilia too, unlocking new revenue streams when they are needed most. It’s little wonder that NFT-focused companies are attracting eye-watering valuations. Just take a look at Sorare, which is on track to secure a price tag of at least $3.8 billion through its latest funding round. Although …

A new NFT marketplace and gallery offers a refined twist — delivering style, sophistication and a social element that allows people to bond over their shared love of digital assets. Musée delivers a platform for crypto art creators and collectors with 10,000 plots, and each one is an NFT that reflects full ownership and control of that digital real estate asset. These plots can be purchased and used to mount crypto artwork and collectibles, which can then be purchased by Musée’s visitors. The project’s homepage greets users with an at-a-glance look at all of the plots that are occupied — …

A verified athlete-only platform connects fans with their favorite sports stars like never before. Blockasset has been built on top of Solana because of how this network achieves high speeds and low fees — delivering a seamless experience alongside NFTs that owners will be proud of. One recent collection came from Italian captain Giorgio Chiellini, who played an instrumental role in the national team’s sensational win against England in the European Championships. The piece was focused on his warrior-like spirit and was named The Gladiator, and ultimately ended up selling for a cool $60,000 — a sum that has been …

Spike Lee’s new ad dubbed “The Currency of Currency” launched online today, and the two-minute spot depicts crypto as new money for a diverse world. The 64-year-old Oscar-winning filmmaker directed and starred in the commercial for crypto ATM provider Coin Cloud. In the ad, he explores themes such as racial and financial inequality, diversity and inclusivity. “Old money, as rich as it looks, is flat out broke,” Lee says, adding “they call it green, but it’s only white,” as he cites the lack of diversity in people depicted on U.S. dollar bills and coins. While the ad spot had previously …

A crypto exchange has launched a new tool that pays interest on dozens of cryptocurrencies. CoinZoom says it is striving to be more than a crypto exchange for its customers — delivering an environment where they can invest and spend their assets, and watch them grow. The new feature, which is called CoinZoom Earn, is being rolled out in the coming weeks. No fees are charged when crypto balances are transferred to this tool. Interest is accrued daily and compounds on a monthly basis — with interest payments set to be made regularly. These returns can either be redeemed, reinvested …

New use cases for nonfungible tokens are continually emerging. Now, one project is combining NFTs with real estate — delivering fractional property ownership. LABS Group says it is establishing the world’s first community-owned resort, allowing people to purchase a stake in the Kunang Kunang glamping resort. Surrounded by green forests, the property offers 15 private pods and a grand suite. The Indonesian island of Bali is a 30-minute flight away — and local attractions include waterfalls and a breathtaking volcano. According to those behind this project, traditional timeshares can be full of pain points. Owners of timeshares only have the …

A new contest has been launched that gives participants the chance to get their hands on exceedingly rare nonfungible tokens — including a CryptoPunk and Bored Apes. Liquidifty.io says its latest collector contest also boasts works by Pak, XCOPY, Steven Baltay, x0r, Steve Aoki and a plethora of other talented artists. The top prize is CryptoPunk #6691, one of the 10,000 uniquely generated characters from the beloved series. This particular punk sports a front beard, earring, horned-rimmed glasses and a knitted cap — a proper hipster if ever there was one. A look at the transaction history for this NFT …

A completely decentralized, NFT-based crypto advertising billboard has launched. Cell Land says that it is giving up to 14,400 brands the opportunity to purchase pixels — and this could attract millions of unique views per month. Overall, the advertising billboard measures up at 900 x 1600 pixels. A total of 14,400 cells are up for grabs, each of them measuring 10 x 10 pixels. Each cell can be rented in a secure and decentralized way — and ownership can also be transferred to others without third-party intervention. One prominent chunk of Cell Land’s real estate was recently donated to the …

Betterment, a U.S.-based financial advisory company with roughly $30 billion under management, is mulling offering crypto investment opportunities for its customers. In an interview with Yahoo Finance released today, CEO Sarah Levy said the company had been searching for ways to offer Betterment customers a means to add crypto to their portfolios given the growing interest in the digital asset space. She added that though the market was volatile, it may still offer long-term investment opportunities to those who were properly informed about the space. "Personally, I'm a big fan of crypto and I think it's a really interesting asset …