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Nexo's $3 Billion Arbitration Claim Against Bulgaria: Unveiling the Legal Battle

Nexo, a prominent crypto lending firm, has recently filed a $3 billion arbitration claim against the Republic of Bulgaria following a year-long criminal investigation into the company and its founders. In a press release on Wednesday, Nexo strongly argued that Bulgaria's investigation was unjustified and politically motivated, resulting in significant reputational damage and lost business opportunities estimated to be in the billions. The company, now cleared by the Bulgarian Prosecutor's Office, is seeking reparations for the financial harm suffered as a result of the investigation. Key Points: Nexo is one of 22 investors in Decrypt. The company had to abandon plans for a funding round with leading U.S. banks and an IPO on a major U.S. stock exchange due to the lawsuit. Nexo was finalizing a strategic alliance with a major European football club, which included the launch of a club-branded crypto payment card. Antoni Trenchev, co-founder of Nexo, emphasized that the arbi

MoMA Launches MoMA Postcard: A Creative Journey into NFTs and Blockchain Art

The Museum of Modern Art (MoMA) has announced the launch of MoMA Postcard, an interactive NFT-backed digital initiative aimed at encouraging users to experiment with creating art on the blockchain. Set to debut later this month, MoMA Postcard will allow participants to send digital chain letters featuring 15 blank stamps across the blockchain to collaborators of their choosing. Together, the 15 participants in a single postcard will build out a collaborative art piece, with each stamp tailored to a particular theme.

An Approachable and Creative Way to Explore NFTs and Blockchain Technology

The MoMA sees this initiative as an opportunity to experiment with NFTs and blockchain technology in an approachable and creative manner, hoping to inspire connections and conversations within the world of digital art. The NFTs created through MoMA Postcard will be minted on the Tezos blockchain.

To kick off the program, the MoMA invited 15 digital artists to collaborate on a series called "First 15," which will be the first postcards minted on the chain as part of the project. Each of these 15 cards was tailored to a unique prompt and digitally passed around to all the participating artists. Notable artists involved in the project include Dmitri Cherniak, Casey Reas, Grant Yun, Anna Lucia, Kim Asendorf, and the Madrid-based art duo Operator.

Global Art Movement and Growing Interest from Major Art Institutions

The MoMA's announcement of MoMA Postcard and its commitment to blockchain technology and the digital art ecosystem reflects a growing interest among major art institutions. The museum previously sold NFTs in 2021 in collaboration with digital artist Refik Anadol, who created on-chain artworks inspired by the museum's archives. The MoMA has also offered a free NFT claim for visitors to the museum, where Anadol's AI-driven digital artwork "Unsupervised" is currently on display.

This longer-term relationship with blockchain technology is not unique to the MoMA. Last week, the Musée d'Orsay announced a year-long partnership with the Tezos Foundation to bring blockchain-backed artworks and digital artists into conversation with the museum's collections and exhibitions. Similarly, the Los Angeles County Museum of Art (LACMA) is currently running a program inviting digital artists to create NFTs inspired by the museum's collections. The Centre Pompidou, France's highest-profile modern art museum, also debuted an exhibition earlier this year dedicated to exploring art created on the blockchain.

By embracing blockchain technology and NFTs, these major art institutions are recognizing the potential for innovation and new artistic possibilities. As the MoMA's Sasha Stiles aptly stated, this is a global art movement, a decentralized residency or gallery where imagination is unbounded and ignited in unprecedented ways. The future of digital art and its relationship with blockchain technology is promising, and initiatives like MoMA Postcard are paving the way for further exploration and collaboration in this space.


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