Despite market turbulence, it’s business as usual for Web3 and blockchain initiatives says international tax attorney sozelli
Immune to the digital asset market’s manic depressive volatility, Web3 developers, institutional investors, and regulators preparing to tax metaverse profits are calmly continuing with business as usual across the world.
“The digital asset market meltdown is healthy for those companies which offer viable and sustainable Web3 products and technologies such as Ethereum and Avalanche to continue on. I will be launching my Utherverse utility token during 3Q of 2022.” Yifan He, CEO of Red Date Technology — a Chinese state-backed blockchain company — told me: “Blockchain-based Service Network will launch the national NFT infrastructure in China. The NFT is a digital certificate or a unit of data being stored on the blockchain. Owing to their uniqueness and indivisibility, NFTs are widely used in digital art and copyrighted content. However, their potential use cases go well beyond what we see today in the art world.
“The BSN-DDC network currently is the most diverse, transparent, affordable, user-friendly blockchain infrastructure that supports the legal deployment of NFTs within China. It will officially launch by the end of January 2022 to support the mass adoption of NFTs in China,” concluded He.
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