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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

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...
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Fidelity seeks approval for 2 more crypto-metaverse ETFs

The funds will track Fidelity proprietary Crypto Industry and Digital Payments and Metaverse indices.

Fidelity Investments appeared undeterred by the U.S. Securities and Exchange Commission's, or SEC's, rejection of its Wise Origin Bitcoin Trust spot exchange-traded fund (ETF) on Thursday. Following the setback, the company filed two more prospectuses involving crypto-metaverse ETFs for regulatory approval. The proposals are for the Fidelity Crypto Industry and Digital Payments ETF and the Fidelity Metaverse ETF, respectively. In rejecting the Wise Origin Bitcoin ETF, the SEC cited the exchange listing the ETF, the Cboe BZX, for not having a proper "surveillance-sharing agreement with markets trading" to prevent fraud and protect investor interests.

However, neither of the two new ETF applications will have any exposure to digital assets. Instead, they seek to gain exposure to stocks of cryptocurrency and metaverse companies operating in the space. Additionally, the constituent companies must generate substantial revenue for their shares to be added to the fund.

For the Fidelity Metaverse ETF, sectors under consideration are computing hardware and components, digital infrastructure, design, engineering software, gaming technology, web/content developers and smartphone and wearable technology. As for the Crypto Industry and Digital Payments ETF, it will invest in companies operating in cryptocurrency mining, cryptocurrency trading, crypto exchanges, blockchain tech firms, and digital payments processors. In total, there are over 40 digital currency ETFs from a variety of financial entities awaiting a decision from the SEC. The prior month, Fidelity officially gained regulatory approval in Canada to launch a Bitcoin ETF and a Bitcoin Mutual Fund.

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