SolidBlock is making history by being the first company to offer NFTs as a booking tool for the hotel industry in the United States.
The EU has moved to rein in the “wild west” of crypto assets by agreeing a groundbreaking set of rules for the sector, adding to pressure on the UK and US to act too.
Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Web3, Decentralization, DAOs
SolidBlock Offers NFTStays as a Booking Tool for US Hotel Industry
SolidBlock | | Jun 9, 2022
SolidBlock is making history by being the first company to offer NFTs as a booking tool for the hotel industry in the United States.
Launched in May 2022, NFTstays is a reservation system that enables hotels to increase their revenue and occupancy rates by tapping into the lucrative NFT market and allowing guests to book their stays with NFTs.
When hotels work with NFTstays, they mint a specific number of NFTs that include a package deal of night stays and exclusive perks and benefits. The platform uses blockchain technology and creates a new way to grow brand awareness and expand publicity for hotels. Specifically, this technology removes the difficulty of compensating guests for unused rooms by giving guests the ability to resell with ease the NFTs with their reserved night stays.
See: FFCON20 Week 8 Fintech Draft Finals: Congratulations to the Winners! SolidBlock and DivDot
The hotel’s collection of NFTs is currently housed on the OpenSea platform and will soon be added to more NFT marketplaces. The NFTs each contain unique art and photos of the hotel and are redeemed using the hotel’s existing booking system, making it easy for hotels to incorporate NFTstays into the booking process. No additional technology is required.
The first hotel to use SolidBlock’s NFTstays platform is the NoMo Soho, owned by Sapir Corp, Ltd., and one of Sapir’s flagship properties. The boutique hotel, located in the Soho neighborhood of Manhattan, has been trending on Twitter since Sharon Raz, the CEO of Sapir was interviewed by Reuters News:
We are creating a new reality in the hospitality arena by providing an innovative and attractive experience to our guests. Making the connection between tangible services and intangible assets is an initiative which we intend to continue to develop.
See: UK Court recognizes NFTs as ‘private property’
As @NateNFT, one of the first purchasers of the NFTs, expressed on Twitter:
Just bought an NFT to book my hotel stay in NYC and I’m never going back to the old way!
SolidBlock CEO and Co-Founder Yael Tamar:
The NFT market will grow and shift to utility solutions. SolidBlock is reframing how we use NFTs by creating practical use cases to bring unique value to the hospitality sector and its guests.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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EU agrees on landmark MiCA rules putting pressure on UK and US to regulation crypto assets too
The Guardian | Dan Milmo | Jul 1, 2022
The EU has moved to rein in the “wild west” of crypto assets by agreeing a groundbreaking set of rules for the sector, adding to pressure on the UK and US to act too.
Representatives from the European parliament and EU states inked an agreement on Thursday that contains measures to guard against market abuse and manipulation, and require that crypto firms provide details of the environmental impact of their assets.
- “Today, we put order in the wild west of crypto assets and set clear rules for a harmonised market,” said Stefan Berger, the German MEP who led negotiations on behalf of the parliament. The recent fall in the value of digital currencies shows us how highly risky and speculative they are and that it is fundamental to act.
- The European parliament’s markets in crypto assets (MiCA) law is expected to come into force at the end of 2023. Globally, crypto assets are largely unregulated, with national operators in the EU required only to show controls for combating money laundering.
See: A European approach to DeFi regulation
MiCA will be the world’s first comprehensive regime for crypto assets and will contain strong measures to guard against market abuse and manipulation, said Ernest Urtasun, a Green party MEP:
- The law gives issuers of crypto assets and providers of related services a “passport” to serve clients across the EU from a single base, while meeting capital and consumer protection rules.
- Non-fungible tokens (NFTs), a $40bn market last year, are not covered by MiCA.
- The EU negotiations focused on issues such as supervision and energy consumption of crypto assets. “We have agreed that crypto asset providers should in future disclose the energy consumption and environmental impact of assets,” Berger said.
The MiCA law is expected to set a benchmark for other regulatory regimes globally, although one expert said the all-encompassing nature of the EU regime might not be replicated.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Crypto Punks — is it Worth Buying?
Guest Post | Jul 4, 2022
CryptoPunks are 24x24 pixel art images created algorithmically. They were conceived as an experiment in combining art and TFT. Most of them are boys and girls, but there are also rarer types: monkeys, zombies, and even aliens. Each punk has its profile page and displays attributes, ownership/point of sale.
CryptoPunks is one of the first collectible NFTs in history. They were created in total 10,000 pieces, each with its own set of attributes. Due to the limited number and different rarity, the minimum cost for which you can buy CryptoPunks is 81.5 ETH (about $ 227 thousand) and these numbers are constantly growing. But why?
Why does ordinary JPEG have any value at all?
A quirky art project called CryptoPunks was created five years ago by two software developers who asked a serious and provocative question: Can a few lines of code lead to a sense of expensive ownership?
When someone buys a Rolex in the real world, they don't spend hundreds of thousands of dollars for the functionality of the watch. A simple $5 watch can do the same thing. Rolex is brought to convey the status: “Look, I can afford this luxury watch.”
How can someone do something like this digitally today? I can't post a picture of this watch and say, “Hey, look at my expensive watch, guys!” Firstly, it's not cool, and secondly, what's the use if you can't make sure that they are mine, and they are authentic.
But it is possible with the help of NFT. Ownership and authenticity can be quickly verified in the blockchain. The effect is the same as when wearing a Rolex watch in real life, but only digitally. For example, make a post or change the main picture in your Instagram account, which will increase your popularity. Many celebrities use this way, after they have already made a “buy Instagram followers” function.
The CryptoPunks collection gained another wave of popularity when the owner of NFT #6046 refused to sell it for $9.5 million. Price seemed to the owner not attractive enough — at least, he wrote it in one of the reasons for refusal. And the second one goes like this: “I am very closely connected with this NFT, and its sale will affect my online identity.”
The Value of Cryptopanks
— Each image is unique. The developers have a code with which everyone has the opportunity to freely exchange and sell NFT. Such codes are stored on the blockchain. This leads to the fact that no one has access to it. Also, developers will not be able to modify NFT punks, pick them up or delete them.
— The hype around crypto punks. Cryptopanks are exhibited in digital museums and auctions. A lot of collections inspired by crypto punks are being created: CryptoBabyPunks, Picasso Punks, and others.
— The value of CryptoPunks. She puts the collection on a par with the works of artists who create in the real world. And the opportunity to purchase an original work increases the value of cryptograms and digital art.
Availability
Anyone and everyone can look at any of the crypto punks.
The Larva Labs website has a composite image of all 10,000 crypto punks. Anyone can save a copy of the image file on their memory card or hard disk. Each Punk also has its page with a detailed description of its capabilities and a complete transaction history. But only one person is the owner of CryptoPunk.
See: eBay acquires Manchester-based NFT marketplace KnownOrigin
Initially, CryptoPunks were distributed for free — buyers paid only for Gas. This is a commission for performing any transactions in Ethereum. In mid-2017, it was $0.11 for CryptoPunks.
CryptoPunks took off after an article on the Mashable portal. It said that crypto punks could “change the perception of digital art.” Also, the authors honestly wrote that their NFTs “do nothing” and they can only brag about it on social media pages. Despite this, within a few hours after the publication of the article, all crypto punks were sold out. Hall and Watkinson kept 1,000 NFT for themselves in case they “become something special.”
Desirability and value
As you may already know, buying works of art in the form of an NFT makes you a unique owner, with documentation of all previous owners. Uniqueness makes CryptoPunks a wise move for investors who trust the NFT market.
In general, the cost of NFT will only grow as public perception and popularity grow. However, on the other hand, the value of NFT can drop sharply at any moment, so such investments can be both very profitable and a way to lose a lot of money. However, until now, the cost of CryptoPunks has grown exponentially.
See: What do you mean NFTs can now by cloned by ‘Mimics’?
Although all crypto punks can be seen on OpenSea, the leading secondary trading platform of NFT, they can only be bought through the Larva Labs website.
You need to log in using an Ethereum cryptocurrency wallet, such as MetaMask, and then buy, place bets and sell crypto punks through the official website. Fortunately, Larva Labs has a handy tracker that allows you to see all the listed punks in ascending order of their price, from low to high.
Conclusion
It is impossible to predict how integral a part of the average person's life cryptocurrency will become in the coming years. Although the hype around NFT may have reached its peak, the cryptocurrency is not going anywhere. But this point could be higher if someone wants to make a hype around it and buy real instagram followers to promote a unique post. It's exciting to think about where the amazing world of cryptocurrencies can lead us next. Crypto Punks started as an experiment and were distributed for free, and in 2021 they became a valuable collectible. Blockchain helped protect ownership, and NFT made each Crypto Punks unique.
Cryptopanks are no longer just 10,000-pixel 24×24 pictures. These are unique works of digital art that allow their owners to demonstrate their social status and influence the art world.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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The FCA Hosted CryptoSprints in May and June 2022: Here are The Outputs
FCA | Jun 29, 2022
We hosted our first policy-focused CryptoSprint events in May and June 2022. The objective of the events was to seek industry views around the current market and the design of an appropriate regulatory regime.
The crypto market is developing at pace. Currently the FCA’s role is focused on registering firms for anti-money laundering purposes, whilst the majority of cryptoassets and associated busineses remain unregulated. What the FCA’s approach has shown is that regulation can support developing ideas. As a result, the FCA held a series of CryptoSprints to consider what regulation of crypto could or should look like in the future. We heard a rich and diverse set of views from the 184 participants.
See: FCA extends deadline for crypto firms to register (with temporary regime closing)
Key Themes
- Principles-based approach would help accommodate the pace of technology and market evolution.
- Technology neutrality was essential to avoid policymakers ‘picking winners’ in developing markets.
- Gaving a clear digital taxonomy (ideally internationally) would help in developing a regime for cryptoassets.
- Existing rules and tools should be used where possible (vs bespoke new standards)
- Proportionate approach to regulating cryptoassets, balancing encouraging innovation with protecting consumers and markets.
- Some participants also suggested that a self-regulatory organisation (SRO) could be used to provide greater clarity for firms, perhaps before formal regulation took effect.
- Participants also suggested that regulators should prioritise key risks when developing any potential standards, and that regulation could be phased over time, with new rules implemented gradually to allow firms and consumers to adjust.
See: UK Proposes Regulations That Would Recognize Stablecoins As A Form Of Payment
Problem Statements
- Issuance and Disclosure
- Regulatory Hooks
- Custody
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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FTX Agrees Deal With Option to Buy BlockFi for up to $240M
Techcrunch | Lucas Matney | Jul 1, 2022
Sam Bankman-Fried’s FTX is taking advantage of rampant instability in the crypto lending market to assert itself while propping up major institutions.
The company’s U.S.-based arm has a deal in place with troubled crypto lender BlockFi that gives them the option to buy the startup, recently valued at $2 billion, for up to $240 million based on the startup’s performance. BlockFi CEO Zac Prince did not disclose what the low end of the deal could look like in a thread disclosing the term sheet on Twitter. This announcement comes after a CNBC report yesterday pegged the deal at $25 million.
See: Justin Hartzman: Unveiling the Celsius and 3 Arrows Capital implosions
Alongside the potential for an acquisition, with the deal FTX US is giving BlockFi a $400M revolving credit facility to shore up its finances in the midst of market uncertainty.
Yesterday we signed definitive agreements, subject to shareholder approval, with FTX US for:
1. A $400M revolving credit facility which is subordinate to all client funds, and
2. An option to acquire BlockFi at a variable price of up to $240M based on performance triggers.— Zac Prince (@CostSegZac) July 1, 2022
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Research: Ownership of Top 10 Web3 DAOs is Surprisingly Concentrated
Chainanalysis | Team | Jun 27, 2022
Decentralized autonomous organizations (DAOs) are a staple of web3. Internet-native and blockchain-based, DAOs are intended to provide a new, democratized management structure for businesses, projects, and communities, in which any member can vote on organizational decisions just by buying into the project.
At a high level, this is how DAOs work:
- DAO founders create a new cryptocurrency, known as a governance token;
- They distribute these tokens to users, backers, and other stakeholders;
- Each token corresponds to a set amount of voting power within the organization. Each token also corresponds to a price on the secondary market, where it can be bought and sold at will.
See: Sounds like a DAO, Looks like a DAO: Introducing the Modern Digital Organization
While this process is often described as a way to decentralize power, governance token data suggests that DAO ownership is highly concentrated.
The concentration of governance token holdings
By analyzing the distribution of ten major DAOs’ governance tokens, we find that, across several major DAOs, less than 1% of all holders have 90% of voting power.
This has meaningful implications for DAO governance:
- For example, if just a small portion of the top 1% of holders worked together, they could theoretically outvote the remaining 99% on any decision. This has obvious practical implications and, in terms of investor sentiment, likely affects whether small holders feel that they can meaningfully contribute to the proposal process.
- Overly concentrated voting power in DAOs can result in decision-making that seemingly contradicts the tenets of decentralization on which web3 is built.
See: Blockchain-based replacement for traditional crowdfunding: DAOs
- For instance, in June 2022, the DAO governing the Solana-based lending protocol Solend faced a problem: Solana’s price was dropping, and if it fell much further, the protocol’s biggest whale user would face a margin call that could render Solend insolvent and send roughly $20 million worth of Solana onto the market, potentially tanking the asset’s price and upending the entire Solana ecosystem. The DAO called a vote to take control of the whale’s account and liquidate its position through OTC desks, rather than the open market.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Osom partners with Solana to launch OV1, a blockchain-focused smartphone
GSMArena | Ricky | Jun 24, 2022
Osom is a privacy-focused tech company that was expected to launch the OV1 smartphone from the team of engineers that built the Essential PH-1. In a turn of events, the OV1 will now be a new blockchain-focused smartphone by Solana Mobile called the "Saga" and it will still be manufactured by Osom.
The Solana Saga will be tightly integrated with Solana’s blockchain, capable of making transaction in web3 and will support holding digital assets including tokens and NFTs.
At an event in New York, the company also introduced the Solana Mobile Stack. This is “a framework for Android allowing developers to create rich mobile experiences for wallets and apps on Solana.” The Solana Mobile Stack SDK is already available for developers.
See: Multiple Payment Methods – Why is it Fundamental to E-Commerce Success?
Interestingly, prospective buyers can pre-order a Solana Saga starting today for a refundable deposit of $100. The Saga will retail for $1000 and those who pre-order may receive a Saga Pass that includes an accompanying NFT and “the first ticket to influencing the direction of the SMS platform. The device is expected to arrive in early 2023 and will initially launch in the US, Canada, EU, and UK.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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