On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
The launch comes as Cointelegraph Research projects nonfungible token (NFT) sales will hit nearly $18 billion by the end of the year.
On Thursday, registered investment adviser and fintech firm Defiance announced it has launched the first nonfungible token (NFT)-focused exchange-traded fund (ETF) on the New York Stock Exchange Arca. The fund is listed under the ticker symbol NFTZ and has a management fee of 0.65% per year.
The fund does not directly buy and hold NFTs to store in wallets. Instead, it tracks an index of companies operating or intending to venture into the NFT space, as well as the Metaverse. The BITA NFT and Blockchain Select Index, which the fund intends to mirror, is maintained by Germany-based fintech company BITA.
Notable holdings in the fund include Coinbase, Cloudflare, Plby Group [Playboy], Marathon Digital and Hut 8 Mining. Its biggest holding is Silvergate Capital, at 6.74% of its net assets. Unbeknownst to most investors, Silvergate is one of the world's largest gateway for crypto to fiat transactions among centralized cryptocurrency exchanges and financial institutions. During the third quarter alone, Silvergate helped facilitate over $162 billion worth of such transactions. The NFTZ ETF holds a total of 34 companies in its portfolio.
Regarding the announcement, Sylvia Jablonski, co-founder and chief investment officer of Defiance, said:
The NFT revolution will fundamentally change the economic model for artists, athletes, creators and many more industries that we can’t even conceive of today. NFTs could be bigger than the internet.
Related: Invesco launches spot Bitcoin ETP on Deutsche Borse
In addition to the NFTZ, the fintech firm also plans to launch a basket of ETFs tracking the latest information technology and biotech developments. Notable highlights include its 5G, psychedelic, next-generation hydrogen, and quantum computing ETFs.
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