LG Electronics adds blockchain & crypto as new areas of business
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New business objective - NFTs
According to a local South Korean news report, LG added a new crypto-related objective - development and selling of blockchain-based software, during its annual general meeting on Thursday March 24.
LG screens are now NFT enabled
The tech manufacturer has been on a warpath of NFT adoption and integration, announcing earlier this month that it was working with blockchain tech company Kakao’s Ground X to introduce a line of smart TVs that are fully NFT-capable.
LG also announced a partnership with Seoul Auction Blue, an online art auctioneer, to carry out further projects related to NFT-based artworks.
Chip giant Qualcomm launches $100M Metaverse fund
$100 million for XR, AI, AR & VR
Multinational software, microchip giant and global 5G IP leader, Qualcomm has launched a $100 million Metaverse fund to back extended reality (XR), artificial intelligence (AI) and augmented reality (AR) tech companies.
Extended reality refers to the combination of smartphones along with AR and VR technology such as headsets and glasses.
Grant Program launched
The funding will also go toward a grant program for developers building XR-focused gaming, health, wellness, media and entertainment experiences.
Qualcomm aims combine tech into a single device
The firm stated that it is aiming to build the critical infrastructure to the Metaverse via its 5G, AI and XR technologies. Qualcomm’s website also indicates that it is aiming to combine a smartphone, VR headset and AR glasses into a single XR device in the future.
Ray Dalio’s Bridgewater Investing in Crypto Fund
Bridgewater tests the waters indirectly
The world’s largest hedge fund is taking crypto seriously as an asset class – aside from founder Ray Dalio’s announcement in May 2021 of a personal investment in bitcoin (BTC).
Bridgewater Associates doesn’t intend to directly invest in crypto itself yet, but do so by backing an “external vehicle” instead.
This could drive the current 2 Trillion value to the next high
Its investment is “minuscule” compared to its total $150 billion in assets under management, CoinDesk wrote. Connecticut-based Bridgewater said it believes "crypto markets are now large enough to allow for positions in sizes relevant to institutional investors."
This could potentially signal the next wave of institutional capital injection to boost the existing digital asset market cap of USD 2 Trillion to a new high.
‘Satoshi Island’ crypto utopia receives 50K citizenship NFT applications
“A true crypto-economy where everything will be paid for in crypto and all ownership on the island is represented with NFTs.”
Yes to Crypto, no to Fiat
As a 32-million-square-foot private island sanctuary in the remote South Pacific, Satoshi Island is a “place for the crypto community to call home.” A crypto island in the South Pacific where fiat is not allowed.
The prime minister of Vanuatu, the Honourable Bob Loughman, has officially given the green light to Satoshi Island.
The official letter states that “the government of Vanuatu welcomes the Satoshi Island project and its community to our country,” while highlighting that “Vanuatu is looking for new ways to attract investment and people to our country.”
Many of the past crypto megaprojects, from Akon City in Senegal to CryptoLand in Fiji, have failed.
With the prime minister of Vanuatu's approval, the Satoshi Island crypto "pipe dream" is nearing reality.
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