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Fanatics sells its 60% stake in NFT Candy Digital



Michael Rubin’s sports platform company Fanatics is selling its 60% stake in NFT Candy Digital, according to an internal email obtained by CNBC.

Fanatics, which previously owned the majority stake in Candy Digital, will sell its stake to a group of investors led by Galaxy Digital, the crypto merchant bank headed by Mike Novogratz, which was the other original founding shareholder, according to the report. ‘E-mail.

Fanatics declined to comment.

Candy Digital was founded in June 2021 amid the NFT sports boom, competing with companies like Dapper Labs in the digital sports collecting space. One of its first efforts came out of a multi-year license agreement with MLB to produce non-fungible tokens, which included an exclusive Lou Gehrig NFT. He has also released digital collectibles with netflixfrom Stranger Things, WWEand several Nascar teams.

However, like the broader NFT market, sports NFTs have also seen a decline amid the “crypto winter” which has seen the value of almost all digital assets plummet. Dapper Labs, the company behind the NBA Top Shot and NFL All Day digital trading platforms that ranked No. 9 on last year’s CNBC Disruptor 50 list, laid off 22% of its company in November.

Candy Digital had raised a $100 million Series A round in October 2021, valuing it at $1.5 billion at the time. Investors in this round included SoftBank’s Vision Fund 2, Insight Partners and Pro Football Hall of Famer Peyton Manning, according to previous CNBC reports.

It’s unclear what Fanatics received for its stake in the company, but Rubin wrote, “Disposing of our stake at this time allowed us to ensure that investors could recover most of their investment in cash or in additional shares in Fanatics – a favorable outcome for investors. , especially in an imploding NFT market that has seen steep drops in both trading volumes and standalone NFT prices.”

Rubin cited several factors for Fanatics’ divestiture in the email, which he wrote as a “rather simple and easy decision for us to make for several reasons.”

“Over the past year, it has become clear that NFTs are unlikely to be sustainable or profitable as a standalone business,” Rubin wrote. “In addition to physical collectibles (trading cards) which represent 99% of the business, we believe that digital products will have more value and utility when connected to physical collectibles to create the best experience for collectors.”

In January 2022, Fanatics acquired Topps Trading Cards for approximately $500 million after also acquiring the rights to produce MLB Trading Cards, severing a nearly 70-year partnership between Topps and baseball’s top league.

Fanatics raised $700 million in fresh capital in December, with the aim of using the new money to focus on potential merger and acquisition opportunities in its collectibles, betting and gaming businesses. It also pushed the company’s valuation to $31 billion.

The company, which began as an e-commerce platform selling team merchandise to sports fans, has sought to expand across the broader sports ecosystem. The company is also considering an initial public offering, and Rubin recently met with more than 90 internet, retail and gaming analysts from various Wall Street firms, where he spoke about Fanatics’ growth plans, according to previous reports from CNBC.

Fanatics, a three-time CNBC Disruptor 50 company, was ranked No. 21 on last year’s list.

Here is the full email Rubin sent to Fanatics staff on Wednesday:

Team Fanatics –

Good year. I hope everyone had a chance to recharge and spend some quality time with family and friends over the holidays, and that your 2023 is off to a good start.

As we get back to the rhythm of things, I wanted to share some news with you all. Effective immediately, Fanatics has sold our approximately 60% stake in Candy Digital. We sold our stake in the NFT company to a group of investors led by Galaxy Digital, the other original founding shareholder. When we looked at all the factors on the table, it was a pretty simple and easy decision to make for several reasons.

Business model – NFTs will most likely emerge as an integrated product/feature and not a standalone business: Over the past year, it has become clear that NFTs are unlikely to be sustainable or profitable as a standalone business. In addition to physical collectibles (trading cards) which account for 99% of the business, we believe that digital products will have more value and utility when connected to physical collectibles to create the best experience. for collectors. To that end, we already own a larger and larger set of NFT rights and digital collectibles within our Fanatics Collectibles business that came with our trading card rights (NFL, MLB, NBA and more) , which we seamlessly integrate with the world-class physical collectibles rights we currently have. Ultimately, our goal is to increase the number of sports collectors. Connectivity between physical and digital collectibles will be the most powerful way to create emotional resonance and lasting success for NFTs and their collectors.

Investor Relations: Taking this immediate action not only makes sense to Fanatics’ strategic direction, but also allows us to maintain the integrity of our investor relationships. Candy investors bought into the vision not because of NFTs or Candy herself, but because of our background at Fanatics. This proven track record is the result of your hard work and alignment with the mission to build the world’s leading digital sports platform. Therefore, it was imperative for us to protect their investment in the face of changing market and financial environment. Divesting our stake at this time ensured that investors were able to recover most of their investment in cash or additional shares in Fanatics – a favorable outcome for investors, especially in an NFT market. implosion that has seen precipitous declines in standalone NFT trading volumes and prices.

Cultural integration: Similar to how quickly we move when the right strategic acquisition or partnership comes along, we move even faster when we realize things aren’t working. One of our core values ​​– A fanatic… Win as a team – is integral to our success and only works when we can leverage the collective intelligence and expertise of all of our teams and colleagues. Unfortunately, we never achieved the full integration of Candy into the Fanatics environment or culture due to shareholders with competing goals and objectives. Our culture of building, growing, and winning as a team is what makes this company special, and we weren’t willing to compromise on that front.

We are 100% confident that this was the best long-term decision for Fanatics and our partners and we look forward to growing our digital card and trading card business together under Fanatics Collectibles with the incredible rights we have on the NFL, MLB, NBA and NCAA. , WWE, UFC, F1, UEFA, Disney and more.

Happy New Year everyone,

Michael Rubin

CEO, Fanatics


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the week promises to be turbulent for the crypto leader



Important data are at the rendezvous on the economic calendar, for this first week of the year. This is likely to shake up the markets, which have “slept” over the holiday season. We thus envisage a turbulent week for Bitcoin.

Several three-star events on the economic calendar

Indeed, looking at the economic calendar, we can see several important events. This is likely to shake up the markets, which have “slept” over the holiday season. This is the minutes of the FOMC meeting. The currency markets are the most affected by this event. However, this could also shake up Bitcoin (BTC) as it is backed by the dollar. Next to that, Friday seems to be the heaviest day of the week. Indeed, the crypto markets will have to react to the Eurozone CPI.

Then, the unemployment rate and the NFP will generate volatility on assets against the dollar. With this volatility, expect the crypto queen to break out of the $17,060 and $16,273 range. These macroeconomic data are among the most relevant to move the price of Bitcoin (BTC). Pending the publication of the key rate by the Fed, crypto traders will be able to take advantage of these movements this week.

The week promises to be choppy for Bitcoin (BTC)
The week is shaping up to be choppy for Bitcoin (BTC) – BTC/USD – TradingView

Bitcoin (BTC) starts the year with four green candles.

The year is looking pretty good for the crypto leader by market capitalization. It is already at +2% for this year. Indeed, on the chart of Bitcoin (BTC) in daily candlestick, we can observe four green candles from the opening price. With this slight rise, the price is approaching the first hurdle near $17,000. This hurdle also aligns with the 78.6% level of the Fibonacci tool. The Fibo levels were obtained by measuring the range between the low of June and the low of November 2022. We also see that the opening price of the year aligns with the 50% level. With the bullish momentum, BTC is poised to break through the $17,000 range and $16,300 upwards.

If the price breaks the resistance at $17,567, Bitcoin (BTC) could start a bullish rally this year. However, one can also consider a bearish scenario where the price breaks the $15,460 support. In this case, the price could go back to $13500.

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Fitah avatar

I am passionate about cryptocurrencies, a world that I discovered barely 3 years ago. My only goal is to inform you of this incredible universe through my articles.


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everything that changes since the beginning of January



Capital gains, tax regime, qualification as an individual or professional… Taxation on cryptocurrencies changed in France at the start of 2023.

Since January 1, taxation on cryptocurrencies has evolved on three major axes in France. A few provisions should make it easier for investors, and even delight some.

The first change concerns capital gains on cryptocurrencies. Indeed, if an investor makes a taxable sale, he will have to declare this to taxes. Among the taxable transfers, we distinguish the transfers of cryptocurrencies against fiat currency (legal currencies such as the euro or the dollar for example) or the purchase of a good or service with a cryptocurrency.

Until now, French people who made capital gains on cryptocurrencies in euros were subject to a specific regime. Indeed, since 2019, capital gains that exceed 305 euros per year are subject to the single flat tax (PFU) (“flat tax”) of 30%, i.e. 12.8% tax and 17.2% deductions social. This also applies to capital losses: if a user has lost money selling cryptocurrencies, this must also be declared.

A choice in taxation

But there has been a change since January 1. Article 79 of the 2022 finance law provides that taxpayers “may choose to be taxed either at the flat rate of 12.8% or at the progressive scale of income tax”, indicates the ministry of Economy.

A choice that could prove interesting in certain cases. Thus, if a person is not taxable, he should only pay 17.2% in social security contributions.

“And if (she) falls within the 11% bracket of the scale, (she) will only bear 28.2% of tax and social security contributions. Additional advantage, the CSG paid (9.2%) will be deductible from your income taxable at 6.8%, while that included in the PFU is not”, underlines an article Que Choisir quoted by the ministry.

Individual and professional investors

The second change concerns the qualification of investors. Until now, some individuals who made significant capital gains could be considered professional investors, according to criteria established by Bercy. The latter were then subject to the industrial and commercial profits regime (BIC), with a tax amount of up to 66.2%.

However, Bercy has clarified the vagueness surrounding these qualifications. Thus, transfers “carried out on a non-professional basis will systematically fall under the PFU regime”, specifies the Ministry of the Economy.

“If you sell cryptocurrencies as part of the management of your private wealth, you will automatically fall under the PFU. It does not matter whether you make sales on an occasional or regular basis, you will be subject to this regime even if you manage a large volume of transactions and large amounts”, underlines the article.

Professional traders

Third change: the earnings of professional traders will be taxable as non-trading profits (BNC) and no longer BIC. They will thus be “subject to the tax scale and social security contributions, subject to deduction of a 34% reduction (micro-BNC scheme) or costs related to the activity (controlled declaration scheme)”.

On the other hand, no change on the side of the capital gains made by the mining of cryptocurrencies, which also falls under the BNC regime.

“The taxable result derived from this activity is determined in accordance with the rules of common law applicable to non-commercial profits, it being specified that the acquisition value used for the calculation of the taxable result is nil when the bitcoins have been allocated free of charge”, according to the article 92 of the general tax code.

To find out how to declare your capital gains, BFM Crypto has produced a detailed guide on this subject. Concretely, a user must follow all the transactions in crypto-currencies carried out during the year of declaration and be able to calculate the valuation of his portfolio or portfolios during the taxable transfer. Taxpayers can get help from tax specialists specializing in cryptocurrencies or private companies dedicated to this problem.


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Donald Trump’s NFTs draw criticism



Former US President Donald Trump’s Recently Launched NFT Collection Faces Heavy Criticism due, in particular, to their poor quality, the processing work and the fact that it was made from an image bank.

Source: Helloimorgan/Twitter

Two major charges are leveled against Trump and the team behind the collection:

  • The images used for the collection were taken directly from the Internet, created by other people, and are of poor quality ;
  • The work with Photoshop is poorly doneor an AI image generator was used.

For example, there’s an image of Trump as a duck hunter (or something like that), in a very similar outfit in a collection of designer clothes online.

In addition to the alleged use of branded outfits in NFT’s collection, there are accusations that images from the Shutterstock platform were also used.

And not just Shutterstock, but also Adobesay users. Some advise a quick withdrawal from the project.


Adobe’s watermark is also clearly visible on this card:

Source: Trump Digital Trading Cards/OpenSea

The Washington Post wrote that,

“If the images seen on the website are similar to the digital images that will be transferred to anyone who pays the $99, then Trump cards will be poorly photoshopped images of the former president’s face pasted onto rather fit male bodiesdressed in very masculine suits, which includes sportswear, a sheriff’s suit and lots of blue three-piece suits.”

The article also warns that,

The joke, in the end, will unfortunately come at the expense of people paying $99 for these NFTs., which, despite what appears to be an initial flurry of interest, are likely to be extremely risky as a long-term investment. But that too is very much on Trump’s mind, a perfect example of his marketing approach.”

The NFT website meanwhile, denies that NFT INT LLC, the company listed as hosting the NFT auction, is owned, operated or controlled by Trump or his companies. Therefore, it is unclear what this company is, and many speculations are being spread online.

As for the designer of the cards, the website states that “the award-winning illustrator Clark Mitchellwho conceived the design of the Trump Digital Trading Cardshas significant working relationships with brands such as Star Wars, Hasbro, Mattel, Marvel, Time Magazine, Coors, Budweiser, disney, Corona and Coca Cola“.

NFTs that make you laugh

Donald Trump launched Thursday, December 15, 2022 the collection of NFT, the “Trump Cards”, which represent him in particular as a superhero, an astronaut and a cowboy. There were a total of 45,000 NFTs, minted on polygonand the project is seen by many as a money-making stunt.

The collection sold out quickly, and the OpenSea Marketplace currently shows (as of 9am UTC Monday morning) that the lowest price was 0.099 ETH ($120). The most expensive card costs 505 ETH ($598,000).

The total volume gets up currently at 6,369 ETH ($7.55 million)with 15,621 owners and 35% sole proprietors.

The collection and its launch were the subject of much mockery when they were announcedgiven that Trump had announced “major” news that many had assumed would be related to American politics.

Launching his own NFT project stands in stark contrast to Trump’s stance on crypto during his tenure. Trump had indeed previously criticized Bitcoin in particular and the crypto industry in general, joining a long list of politicians who have also decried crypto products because of their ecological impacts.

The former president also been criticized for his bad timing as he launched his collection as the NFT market is in turmoil due to the ongoing crypto downturn and a series of corporate defaults and bankruptcies, including the exchange’s massive fall FTX.

According to CryptoSlamNFT’s global sales volume has dropped 87% since January this year.

Source: cryptoslam.io

Donald is not the only Trump to turn to NFTs: less than a month after her husband called the crypto “very dangerous”, Melania Trump announced her “Melania’s Vision” collection.

And unsurprisingly, the ex-President and the collection were also ridiculed on the American show Saturday Night Live.

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North Korean hackers prey on NFT investors



Lazarus, the infamous North Korean hacker group, is actively running a phishing campaign and this time it is targeting NFT investors. According to the researchers, the campaign has been going on for several months already.

Attack against NFT investors: hundreds of fake NFT marketplaces created

The Research Section of the Cybersecurity Society Morphisec observed a new attack campaign in September. Malicious actors delivered the Remcos RAT malware (Remote Access Trojan) at first.

The hackers then distributed the data thief Eternity Stealer. Observations made by the researchers suggest that the attack was designed to target NFT and crypto investors on Discord and other forums.

To reach their targets, hackers have created nearly 500 decoys, fake NFT marketplaces with malicious Mints. The sites mimic popular marketplaces like OpenSea, X2Y2, and Rarible.

Taking advantage of the recent notoriety of the World Cup in Qatar, hackers have also developed fake sites claiming to be an NFT project associated with the event. According to the researchers, this is all just the tip of the iceberg.

Course of the attack

Hackers start by sending spam. Content is loaded with malicious links that redirect targets to legitimate-looking phishing pages. If a crypto user or NFT investor clicks on the link, it is redirected to a form page.

On this page, the user is invited to enter personal information and investment details. The data is transferred to a site controlled by the hackers. This technique allows hackers togain full access to victim assetsincluding their trust records and sigData.

The hackers are mainly motivated by the assets (cryptocurrencies, NFT) of the victims and less by the data. Researchers continue to monitor Lazarus’ activities. During this time they strongly recommend that NFT investors strengthen their security.

It first passes through a better understanding of phishing attacks. It should be understood that links can be dangerous. Better to take the time to check the origin before clicking on it.

Protect yourself from malicious spam and phishing attacks by installing powerful protection software chosen from our top of the best antiviruses.


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One of the oldest developers of Bitcoin, just had them all… stolen!



Vanity and conceit are great faults.

To think that we are in our corner smarter than all the smart guys and other little cryptocurrency geniuses is very pretentious.

A generally fatal claim when it comes to money and business!

The example of Luke Dashjr, an original Bitcoin developer, who loses all his bitcoins is as instructive as it is important to keep in mind.

A difficult start to the year for Luke Dashjr. One of Bitcoin’s original developers and one of the most prominent figures in the community just announced that almost all of his BTC had been stolen.

“Luke Dashjr announced the news on his Twitter account at the end of the day yesterday. He then explained that he had lost “a lot” of his bitcoins (BTC) and called on the community for help:

Part of the funds would have been sent to the CoinJoin mixer, which makes it possible to anonymize transactions. In an update a few hours later, Luke Dashjr also confirmed that it would be all of his BTC holdings that were stolen. The published addresses show that 213.6 bitcoins were transferred, which corresponds to the current price at a sum of 3.5 million dollars”.

And yes, him, the crypto pro just got screwed, so you know, I don’t understand the beauty of it of course, but what I do know is that the vast majority of investors and speculators on cryptos do not understand much about what they do and especially what others make them do. And when one of the technical stars of the sector is screwed, it should serve as a warning signal and caution to those who are clearly “less strong” than him, which is completely my case.

Charles SANNAT

“This is a ‘presslib’ article, that is to say free of reproduction in whole or in part provided that this paragraph is reproduced following it. Insolentiae.com is the site on which Charles Sannat expresses himself daily and delivers an impertinent and uncompromising analysis of economic news. Thank you for visiting my site. You can subscribe to the daily newsletter free of charge at www.insolentiae.com. »


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Despite reluctance, this video game giant is betting on the blockchain for 2023



News JVTech Despite reluctance, this video game giant is betting on the blockchain for 2023

While the crypto-gaming sector has followed the downward trend after the fall in value of Bitcoin and other cryptocurrencies in 2022, some giants in the sector continue to take an interest in it at all costs. This is the case of the colossus of Japanese video games which wishes to invest massively in blockchain technology in 2023.

The blockchain an investment of choice for this video game giant

Although the crypto-gaming sector has been hit hard by the recent general decline in Bitcoin and other cryptocurrencies, projects mixing video games and the crypto / NFT sector continue to emerge. Despite the opposition of some gamers, some historical players in traditional gaming are looking into blockchain and NFT options for their video games.

Very favorable to the adoption of these technologies, the Japanese studio Square Enix, originally the famous Final Fantasy video game series, has announced that it wants to continue its “aggressive investment” in the field of blockchain and NFT tokens for the coming year.

The news was announced in a statement from Yosuke Matsuda, CEO of Square Enix, to celebrate the start of the new year. Through it, he indicated the company’s “priority investments”, and it turns out that it will mainly focus on blockchain entertainment.

“We are primarily focused on blockchain entertainment. A sector in which we have aggressively allocated large amounts of capital and development efforts. » explains Yosuke Matsuda

As a reminder, blockchain is the technology behind Bitcoin and cryptocurrencies. In gaming, this could be used to manage in-game transactions, allowing players to securely sell and buy virtual items of which they are the sole owners, for example.

For Matsuda, these Web3 technologies tend to establish themselves in the video game sector. Thus, the businessman wants Square Enix to be at the forefront of this innovation. According to him, the blockchain and its uses will make it possible to create “new forms of entertainment” and “create added value” for players through “an autonomous decentralized model”, observable in play-to-play games. earn for example.

Square Enix, a crypto-gaming pioneer

In this logic of blockchain adoption, Square Enix is ​​multiplying initiatives. The latter announced that it was partnering with Oasys, a blockchain company specializing in games, with the aim of developing new titles using this technology.

Also, Square Enix plans to launch its own blockchain-based digital content distribution platform, allowing independent developers to distribute their games without intermediaries.

In addition, to sustainably exploit the technology Square Enix is ​​already working on new blockchain games:

“We are making preparations that will allow us to unveil even more titles this year,” Yosuke Matsuda further announces.

Square Enix is ​​therefore setting the tone, with a year 2023 that seems to be under the sign of blockchain. It remains to be seen whether the studio will be able to attract its players to this type of functionality, which is often misunderstood.


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A concept to generate passive income?



Blockchain is not exclusive to the financial sector. This technology is used in many other areas, some more surprising than others, such as the blockchain – fitness combo. Blockchain developers have sniffed out the opportunities that the fitness industry can offer. They have exploited the vein by offering ad hoc dApps (decentralized applications): Move-to-Earn. The principle is simple. Thanks to M2E platforms, users can earn cryptos, just by practicing physical exercises.

Which Move-to-Earn projects will be interesting for the year 2023?

Move-to-earn includes a variety of products and services that compensate users for ” to move “. Thanks to a Move-to-Earn dApp, the user creates an Avatar that counts his efforts. As the user runs, walks, swims, or performs any other game-related physical activity, their Avatar evolves.

This interaction between the user and his Avatar creates a dynamic of movement towards profit. The more the user moves, the more tokens he earns. Beyond cryptos, players can also engage in other related activities like staking, NFT minting, speculations, or Yield farming.

A relatively recent movement

The Move-to-Earn concept is relatively new. The Lympo platform, launched in 2018, is one of the first on the market. It wants to encourage people to adopt a healthier lifestyle through sport, walking, etc. It’s not new. What is, however, is to offer a product based on the blockchain.

The movement was truly popularized with the launch of StepN in September 2021. The release of the platform was accompanied by hype around its token which went parabolic. This is the beginning of the craze. Platforms are multiplying, each with their own way of rewarding users. Either way, most use their native token.

Earn money by playing sports thanks to Move To Earn?

Some Popular Move-to-Earn Platforms

As of this writing, StepN is by far the most popular Move-to-Earn platform. The game is built on the Solana blockchain. Users can use Solana (SOL) crypto to buy StepN products on its marketplace. But for winnings, players receive the platform’s native token, Green Satoshi Tokens (GST).

There’s also The Dustland, born from the collaboration between Animoca Brands, a Hong Kong-based mobile games company, and the gamified fitness ecosystem OliveX. DOSE is the buy, utility and action token at the heart of this platform. Genopets (built on the Solana blockchain), Sweatcoin (a project founded in 2018) or Step (launched in January 2022) are all well-known platforms.

To conclude,

There’s more than one reason to get excited about the Move-to-Earn movement. The dApps are based on the success of activity trackers whose phenomenal success is not to be proven. It’s solid. Moreover, the concept appeals. Earning crypto by taking care of yourself is necessarily a challenge. With user enthusiasm, more and more investors are flocking to M2E projects. The year 2022 is clearly shaping up to be a flourishing year for the movement and analysts agree that this success will be a long-term one.

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Emile Stantina

Passionate about blockchain technology and cryptocurrencies, we contribute to popularize and democratize this new world. “Chancellor on brink of second bailout for banks”


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