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Crypto News: Rembrandt's Nachtwacht for sale as NFT

Crypto News: Rembrandt's Nachtwacht for sale as NFT

Welcome to this week‘s crypto news summary. All the essential news and events in the crypto world from last week (March. 13 to March. 17) are summarised below, so you‘ll be entirely up to date again before you head into the weekend.

Do you want to know what news there was in the crypto world this week? Then read along quickly!

Unique NFT of Rembrandt's Delft Blue Nachtwacht for sale

The art world is digitising rapidly with the help of NFTs. Another major project is already waiting for the public, namely the digitisation of the Delft Blue Night Watch. This is the first project of the Art Attainment initiative, an NFT art collective that brings together lovers of history, art and NFTs.

Rembrandt's masterpiece has now been digitised and offered as an NFT through an auction. During digitisation, work was carried out according to Metamorfoze guidelines. Metamorfoze is a programme used internationally to preserve the paper heritage and is a collaboration between the Royal Library and the National Archives. The Metamorfoze guidelines are used for digitising photographs, paintings and technical drawings of the highest possible quality.

This unique NFT will be auctioned at the NFT mart site OpenSea and last five hours. After five hours, the one with the highest bid will walk away with this extremely special NFT. Bidding for the Delft Blue Night Watch NFT will start at 0.25 ETH.

Asset manager Fidelity opens a crypto platform for individuals

Giant US asset manager Fidelity Investment has opened its crypto platform Fidelity Crypto to retail investors. The platform was already open to a limited number of users in late 2022, but now it is available to everyone. The platform's launch is curious, as things have not been prosperous in the land of cryptocurrency in recent weeks.

Fidelity is among one of the largest asset managers in the world, with $4.5 trillion in assets. In addition, the company has more than 37 million clients. The platform plans to offer commission-free trading to millions of new US clients. Fidelity Crypto only offers bitcoin (BTC) and ethereum (ETH).

Fidelity Investments is one of the first major US financial institutions to take this bold leap of faith. It is a striking choice by Fidelity, as there is anti-crypto sentiment among companies in the United States. Therefore, this move by Fidelity sets an excellent example for other US institutions to follow.

EU wants 'Kill Switch' for smart contracts

The European Parliament has passed a new bill regarding smart contracts. According to the European Parliament, smart contracts should start to include a so-called "kill switch". This kill switch would allow authorities to stop or modify the execution of a smart contract in case of illegal activity, security problems or other unforeseen events.

Through this new law, Parliament hopes to increase consumer protection and wishes to prevent fraud within the fast-growing world of DeFi and other blockchain applications.

According to the European Parliament's new bill, developers of smart contracts must give external auditors access to assess their code for errors and vulnerabilities. This new law requires smart contracts to be secure, reliable and compliant with existing regulations.