New York City exploring blockchain to reduce deed fraud

The New York City Department of Finance (DOF) plans to develop a blockchain proof-of-concept that would be able to detect and reduce cases of deed fraud.

In cooperation with land administration company Medici Land Governance (MLG), the department will explore the feasibility of applying blockchain technology to the city’s land records.

DOF commissioner Sherif Soliman said: “Blockchain technology has the potential to revamp how property documents are recorded in New...

Weekly NFT roundup May 19-25: OneOf, Propy and Charlie Bit My Finger

A diary.

Investors plough $63 million into music NFT platform OneOf

Non-fungible token (NFT) platform OneOf has raised $63 million in a seed round from prominent tech and music industry veterans.

The platform was co-founded by tech entrepreneur Lin Dai, digital media executive Joshua James, and music industry veteran Adam Fell, in partnership with Quincy Jones and Quincy Jones Productions.

OneOf says it aims to break down economic barriers to entry in the NFT...

Guggenheim co-founder backing New York-based blockchain tower

Manhattan skyline.

Todd Morley, a co-founder of global investment firm Guggenheim Partners, has thrown his financial backing behind a new blockchain tower in midtown Manhattan, New York.

A wireless network that improves access to digital ledgers (a set of technologies that underpin digital currencies) will be incorporated into the building at 111 West 57th Street.

The skyscraper will also include a museum for non-fungible tokens (NFTs), units of data that certify a digital asset to be...

Do you really own your NFT? Understanding the tech – and the risks behind ownership

Opinion Non-fungible tokens (NFTs) are on the rise. The blockchain powered digital collectibles have managed to get worldwide attention, despite a general lack of comprehension of how they actually work. A few months ago, NFTs were still specialist items. Now they are being auctioned at premier auction houses such as Christie’s and Sotheby’s, with some artwork being acquired for millions - notably Beeple’s $69 million collage. While the NFT market is currently booming, some risks and...

Weekly NFT roundup April 21-27: IBM, white label platforms, and real estate NFTs

The NFT industry saw a major partnership announced between IBM and IPwe this week. Meanwhile, the development of white-label NFT platforms looks to reduce start-up costs into the industry and foster increased NFT adoption.

IBM and IPwe partner on using NFTs for next generation of corporate patents

IPwe will be using the IBM blockchain as infrastructure for its new NFT patent system. The tokenisation of patents will help them to be more easily traded and commercialised...

Caruso real estate to accept Bitcoin as rent payment in industry first

Real estate transaction

Billionaire Rick Caruso’s eponymous real estate company will begin accepting rent payments for both residential and retail properties in Bitcoin as part of a new partnership with Gemini, the cryptocurrency exchange led by the Winklevoss twins.

Through their partnership, Caruso and Gemini intend to bring cryptocurrency, non-fungible tokens (NFTs), and blockchain applications to Caruso properties as a way to engage visitors throughout their ecosystem.

Such a move by...

Associated Press auctions first NFT artwork commemorating blockchain usage in US election

As non-fungible tokens (NFTs) become an increasingly popular way to create artificial scarcity in the digital marketplace, the Associated Press (AP) has listed its first ever NFT artwork for auction in collaboration with Everipedia and digital artist Marko Stanojevic.

Total sales across NFT marketplaces stood at $500 million (£360m) in February, compared to just $200m (£144m) for the whole of 2020, signifying their increasing popularity due to Bitcoin’s growing value alongside...

Datarella and Fetch.ai Munich smart city parking trial to utilise blockchain and AI technologies

Datarella, a provider of distributed ledger and blockchain technology, and artificial intelligence (AI) startup Fetch.ai are working on a smart city trial for parking in Munich.

The project, called M-ZONE, will be launched at the Connex business estate. Assuming a 10% reduction in car usage in Munich alone, the companies forecast the project could reduce annual CO2 emissions by 34,000 tonnes each year.

There are several factors at play in this project. Through what are...

Canadian government chooses Mavennet to develop on-chain steel tracking platform

Mavennet, a Toronto-based blockchain startup has announced that it has received a contract from the Canadian government to develop an on-chain steel tracking platform.

In November, the Innovation, Science and Economic Development of Canada (ISED) published a procurement award that will fund the R&D project for six months with CD $169,427 (£98,300). As per the contract, Mavennet will be aiming to build a blockchain proof-of-concept prototype that will be able to track...

BrickMark makes token-based high profile commercial property purchase in Zurich

BrickMark has signed a purchase agreement for a high-profile prime commercial property in one of the world’s most expensive and exclusive shopping street in Zurich.

The Zug-based next-generation real estate investment and management firm made the purchase on Bahnhofstrasse by using tokens that were worth over CHF 130 million (£103m).

Stephan Rind, founder and CEO of BrickMark, said: “We are breaking new ground for the real estate industry. There has never been a...