Cryptocurrency Weekly News Roundup – 26th May

These updates from the cryptocurrency space this past week were more tilted towards unveiling certain novel perspectives. From gaming to mining pools, the crypto space was met with rebrandings, a little healthy competition and even a little extra innovation.

Let’s take a quick look at what went down:

Virtual Racing Car Sells at Record Price

A user has bought a virtual racing car in a blockchain based video game. The racing car was purchased at 415.9 ether (ETH) an equivalent of $110,600. This information was put up on the upcoming blockchain game’s website. The car was sold in an auction as it was the highest of 31 bids.

Purchase of virtual gaming materials with cryptocurrency has always been a norm. But, so far, this appears to be the highest purchase recorded in a blockchain gaming network.

Mining Pool Rebrands

The first mining pool to open up her doors to the public, Slush pool, is rebranding. A core reason behind this is because the brand behind Slush Pool, Braiins, wants to be more integrated into the brand’s perception.

Since her purchase of the mining pool 6 years ago, Braiins has been a the forefront of its operations.

Sparkling wine & soft drinks on the Bitcoin

Experiments are ongoing in a Japanese bar to see to the payment of wine and soft drinks using the Bitcoin lightening network. This bar is partnering with a blockchain startup, Nayuta, in Japan to achieve this.

The Crypto Watch

Ever thought about being able to wear your cryptocurrency assets? The Swiss watchmaker, Franck Muller has and is working on a Bitcoin storage watch, Encrypto. The luxury watchmaker is partnering with investing firm Regal Assets on the watch.

The watch is expected to at a price point between $9,800 to $50,600. The watch reportedly also functions as a cold wallet for Bitcoin (BTC).

Bill for Crypto Regulation

The Japanese House of Representatives has approved a new bill to amend national laws that govern crypto regulation. The amendments are aimed at promoting user protection and regulating crypto derivatives trading.

The bill was prepared by Japan’s Financial Services Agency (FSA) and accepted in mid-March this year. The bill also establishes a legal name change for cryptocurrencies as “crypto assets,” formerly designated as “virtual currencies” in Japan.

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