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Announcing the launch of “ON-KO-CHI-SHIN,” an NFT project in which the “Living National Treasures” worldly showcase the captivating legacy of the Japanese kogei in hopes to preserve the traditional cultures.

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CyberZ Inc. (Head office: Shibuya, Tokyo; CEO: Takahiro Yamauchi) and OEN Inc. (Head office: Shibuya, Tokyo; CEO: Takunori Fujii) are pleased to announce the launch of “ON-KO-CHI-SHIN” the second installment of “JINP (Japan Inspired NFT Portal),” a project launched to promote “Japanese culture” around the world, featuring traditional kogei artworks by three artists including two Living National Treasures.

“JINP” is a project that uses the notion of “four character compounds” in each work to convey diverse Japanese cultures such as kanji, washoku, nihonga, and kimono to the world.

In the initial series of this project, 10 illustrators released NFT works “Juu-Nin-To-Iro,” reflecting the “washoku” or the traditional Japanese colors, which were auctioned off for a total of more than 16 ETH (approximately 3,000,000 JPY).

The second series “ON-KO-CHI-SHIN” will feature Japanese kogei themed NFT artwork by world renowned photographer “RK.”

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【2nd Series “ON-KO-CHI-SHIN”】

For generations, Japanese traditional kogei (arts and crafts) has continuously inherited the highest skills and expressions. “ON-KO-CHI-SHIN” project, a Japanese term defined as developing new ideas based on past studies, was launched in hopes to utilize the NFT technology to pass down the value of these fine crafts to future generations worldwide.

Digital arts based on the crafts (maki-e, some-ori, jiki) of three kogei artists, including “Living National Treasures” will be released.(*1) The artists’ share through this project will be used towards “preserving Japanese kogei craftsmanship” in the hope of fostering the next generation of artists, and ownership of an NFT demonstrates support for this movement.

Japanese Street Photographer “RK” will be the project’s Creative Director.

RK is best known for the portraits of celebrities such as Takashi Murakami and KAWS. The vibrancy of the city streets, architecture, and nature are captured uniquely depicted and have been featured in both Japanese and International media.

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He holds the Japanese record for most NFT sales in the Foundation Marketplace. (As of January 2023)

Two types of NFT art will be on sale: a special “one of a kind” NFT which is a collaboration of photos taken by RK and Japanese kogei artwork, and a “3DNFT” created using 3DCG technology to best replicate the true beauty of actual artwork. 9 total varieties are available in each types of NFTs.

【RK’s Comment】

I am overjoyed to see the fusion of my photographs and Japanese kogei in 3D via the cutting edge NFT technology to be widely recognized. This photoshoot was unique as I attempted to bring out the best parts of both kogei crafts and my photos. You will not see something like this anywhere else, I truly hope you enjoy them.

【Kazumi Murose’s (Living National Treasure) Comment】

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I feel as if we are entering an entirely new world by encapsulating the 1000-year history of kogei into the digital art of NFT. Skills are intangible yet proudly passed down for generations and are now being reborn into something no one has ever imagined. As we observe the resemblance between traditional kogei and contemporary NFT, we hope this will be a great opportunity for one to discover the kogei world of continuum innovation.

【Sales Overview】

Date: Scheduled to begin sales in March 2023

Official Website: https://on-ko-chi-shin.jinp.art/

【What is JINP (Japan Inspired NFT Portal)?】

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The NFT transaction value has increased rapidly in 2021 with the sales of digital art approaching the value to actual art.

In light of this circumstance, “JINP (Japan Inspired NFT Portal)” was created as a brand in hopes to attract art enthusiasts around the world. The project concept is “Japanese traditional culture x contemporary culture,” where history and modern is remixed and being preserved into the future using the blockchain technology.

JINP will continue to develop NFT that resembles Japanese traditional culture x contemporary culture” with four character compounds.

(*1)

The Japanese Cultural Properties Protection Law defines “Intangible Cultural Properties” as performing arts, music, craft techniques, and other intangible cultural assets that possess high historical or artistic value to the country. An Individual who has achieved advanced mastery of them is nominated as Important Intangible Cultural Property holder, or commonly known as the “Living National Treasure.” There are only 116 of them in Japan.

SOURCE CyberZ Inc.

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Blockchain

Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches

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Sarah Brennan, an accomplished figure in corporate and securities law, serves as General Counsel at Delphi Ventures, focusing on investments in the Web3 space. With over 14 years of experience in securities law and a deep involvement in digital assets since 2017, Brennan also co-leads LeXpunK, a collective dedicated to establishing legal frameworks for decentralized digital communities.

In a candid interview with a prominent cryptocurrency news outlet, Brennan discussed various critical topics. She addressed the emergence of crypto super PACs, funded significantly by major firms like Ripple and Circle, to counter strict SEC regulations. Brennan viewed the SAB 121 bill, backed by the US administration, as potentially isolating the crypto community from broader financial integration.

While acknowledging the influence of centralized entities in advocating for crypto interests, Brennan cautioned against replicating traditional financial hierarchies within the crypto sphere, which contradicts its revolutionary ethos. She expressed concerns about monopolistic scenarios that could dominate the crypto landscape, exerting excessive control over essential industry components and traditional financial operations.

Regarding regulatory challenges, Brennan advocated for tailored regulations to manage systemic risks posed by large centralized crypto institutions. She criticized the current regulatory opacity and inconsistency, which she believes have fostered suboptimal business practices. Through LeXpunK, Brennan endeavors to pioneer experimental legal structures that could redefine regulatory compliance for token issuances, though reception from policymakers has been lukewarm.

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Looking ahead, Brennan emphasizes the need for proactive regulatory approaches using antitrust measures to prevent crypto monopolies, promote decentralization, and target bad actors. However, she highlighted the persistent communication gap between crypto-literate legal advocates and hesitant regulators as a significant obstacle.

Brennan continues to drive forward her mission through new advocacy platforms aimed at shaping the future of cryptographic regulation, navigating complexities to ensure balanced and effective regulatory frameworks in the evolving crypto landscape.

Source: shakirabrasil.info

The post Legal Luminary Sarah Brennan Champions Pioneering Crypto Regulation Approaches appeared first on HIPTHER Alerts.

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Blockchain

Italy Ramps Up Crypto Oversight in Line with MiCA

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Italy is preparing to strengthen its oversight of cryptocurrency markets to align with the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. This initiative, initially enacted in 2022, aims to impose stricter monitoring of digital asset markets, particularly targeting insider trading and market manipulation. Under the new decree, fines ranging from 5,000 to 5 million euros ($5,400 to $5.4 million) will be imposed based on the severity of violations, reinforcing compliance and market integrity.

For blockchain firms and decentralized finance (DeFi) protocols, MiCA presents significant challenges. These entities must decide between fully decentralizing their networks or complying with MiCA’s Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Fully decentralized networks are exempt from reporting requirements but risk non-compliance if they employ foundations or intermediaries moderating communities.

Centralized exchanges like Binance are adapting to MiCA by categorizing stablecoins as authorized or unauthorized, aligning with regulatory requirements without delisting these assets from spot markets. Uphold has similarly adjusted by delisting certain stablecoins for compliance purposes.

Despite regulatory pressures, experts are optimistic about stablecoins’ future. Figures like Jeremy Allaire, CEO of Circle, predict stablecoins could represent 10% of the money supply within a decade. They anticipate widespread adoption driven by benefits such as financial inclusion, lower remittance costs, and seamless cross-border commerce via public blockchains.

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This regulatory framework underscores the transformative potential of stablecoins and blockchain technology within the global financial system.

Source: coinfomania.com

The post Italy Ramps Up Crypto Oversight in Line with MiCA appeared first on HIPTHER Alerts.

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Blockchain

1inch Network Teams Up with Blockaid for Shield API

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1inch Network has collaborated with Blockaid to introduce the 1inch Shield API, a pioneering advancement in Web3 security. This collaboration aims to enhance user protection within decentralized finance (DeFi) by bolstering defenses against fraudulent tokens. Blockaid, renowned for its expertise in Web3 security solutions, utilizes advanced data analytics and machine learning to swiftly identify and flag scam tokens, safeguarding users from potential financial risks.

The 1inch Shield API also addresses compliance with Anti-Money Laundering (AML) regulations through continuous screenings of blockchain addresses. Powered by TRM Labs, this feature scrutinizes addresses for associations with sanctioned entities and illicit activities, preemptively restricting suspect addresses to prevent regulatory infractions.

Additionally, 1inch integrates Etherscan Pro’s blocklisting capabilities to proactively blacklist suspicious addresses, further fortifying its security measures.

This initiative marks a significant milestone in DeFi security, promising unparalleled levels of security and compliance. As 1inch continues to deploy this technology across its platform, it aims to provide developers and users with enhanced protection and confidence in navigating the Web3 landscape.

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Source: cryptotimes.io

The post 1inch Network Teams Up with Blockaid for Shield API appeared first on HIPTHER Alerts.

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