iHeartMedia has announced they’re pouring hundreds of thousands of dollars into buying multiple NFTs, in an effort to create an NFT-infused podcast network. Executives told Axios they plan to make “10-15 investments over the next several days” on various types of NFTs that’ll include tokens from CryptoPunks, Mutant Ape Yacht Club, and World of Women.

This isn’t the audio platform’s first dive into Web3. Back in January, the company announced an expansion into the Metaverse by committing to the launch of a token via Roblox, attempting to leverage their consumer reach of “90% of Americans every month” into engagement via their web3-infused online communities and other iHeartMedia platforms.

This is one of the largest investments into the mainstream NFT space by a legacy media company as of yet. With a history of paying big bucks in acquisitions, iHeartMedia looks to have begun to bring those same spending habits to their Web3 efforts.

Executives also told Axios that the company plans on “testing five to ten of its existing podcast shows as IP for DAOs.” Khalil Tawil, EVP of strategy at iHeartMedia, compared this leveraging of IP attempts via NFTs as a way to avoid the problems faced by comic book companies when trying to combine characters from different stories into one film or series.

“There’s no real precedent for this,” said Tawil.

The ideas from iHeartMedia on how to initially utilize their investments into Web3 are based upon creating shared virtual spaces. According to iHeartMedia, the concept is to bring together the IP from the NFTs they acquire into content that it will call the “Non-Fun Squad” universe.

Conal Byrne, CEO of iHeartMedia’s Digital Audio Group told Axios, “we can world-build for them, creating narratives around them, and bring those stories to life via podcasts.”

The first content of this network will be called the Non-Fun Podcast Network, which will feature characters from the Non-Fun Squad. Members of the squad will be characters represented by NFTs, and voiced by real people that portray the characters. 

This intersection between audio-based media and digital art will be an interesting thing to watch for those looking to capitalize on the media surrounding Web3 and digital assets. 

In an unprecedented move regarding regulation of digital assets, the European Union has taken steps to force companies who have “unheated” wallets to incorporate KYC protocols on large transactions.

According to a draft report from the EU, companies who operate these wallets like MetaMask, WalletConnect, Ledger, and Trezor will be required to have accurate information on senders and recipients of crypto transactions that exceed €1000.

The Committee on Economic and Monetary Affairs and the Committee on Civil Liberties, Justice and Home Affairs passed the laws in an attempt to inhibit money laundering via the blockchain within the EU.

In early December, Slovenian Minister for Finance Andrej Šircelj highlighted the steps the EU had made in preventing malicious leveraging of blockchain technology. This new law is a result of that continued effort.

“Today’s agreement is an important step towards closing the gaps in our financial systems that are malevolently used by criminals to launder unlawful gains or finance terrorist activities. Crypto-assets are more and more at risk of being exploited for money laundering and criminal purposes, and I’m glad the Council could make swift progress on this urgent proposal.”

This new implementation is a lighter version of previous attempts at oversight against cryptocurrencies by the EU, as mid-March saw the rejection of a proposal by the EU to outlaw both Ethereum and Bitcoin mining in EU member nations.

The EU argues that above the money laundering potential of blockchain technology and digital assets, the carbon footprint of proof-of-work model assets like Bitcoin and Ethereum are extremely detrimental to the environment. The union has brought this argument to the table before in what some have called previous attempts to ban the proof-of-work model all together.

Ernest Urtasun, shadow a member of the European Parliament within the Greens/EFA political group told Al Jazeera after previous attempts at regulation of cryptocurrencies by the EU that the union does not intend to ban proof of work tokens altogether.

“It was not as simple as this,” said Urtasun. “Our proposal was more complex and more taking into account the need of the industry to adapt.” 

Much like in the US, lack of oversight in cryptocurrencies by the EU’s lawmakers have been a major cause of hesitancy when it comes to legacy financial institutions incorporating digital assets into their products and services.

The EU’s process of enforcing specialized regulation on the existing crypto industries is without a doubt being closely watched by both the private and public playmakers in the economic and digital asset landscapes here in the states— where nothing above acknowledgement of existence of digital assets has taken place. 

As government bodies attempt to tame the wild west of crypto markets around the world, the blurry line of regulation and decentralization may become the next hurdle for those attempting to incorporate digital assets in legacy finance at an international level.

Rapper Pip has become a “self-taught expert” in crypto, and has begun leveraging digital assets to promote his music career

Hip-hop artist Thomas Pipolo has leveraged digital assets to promote his music while also putting some serious cash in his pocket in the process. Pipolo, who goes by Pip, has launched a crypto-crowdfund titled Cotton Candy Skies that netted him 6.8eth ($20,000) on its opening day, after launching a successful membership club-esque NFT promotion prior.

“I genuinely want to show other independent artists that it is possible to give your fans meaningful access to you and your music, and the opportunity to invest in your brand,” said Pipolo. “Through blockchain technology, it’s possible for artists of any caliber to maintain ownership rights of their work, establish a fruitful career in the music industry, and get their music heard.”

Pipolo has been a crypto-native rapper for some time. His NFT collection gives their owners exclusive backstage passes to his events, access to studio recording sessions, exclusive meetups and more. His NFTs are currently supported by mirror.xyz.

His NFT’s include tiers like the Platinum Pass, Gold Pass and the Silver Pass. Fans and investors can collect one or multiple NFT’s up until the allotted cap, allowing them to gain immediate access to an exclusive members-only platform.

These NFT ‘backstage passes’ as they’re called can give holders lifetime concert tickets, unreleased music, access to live studio sessions, merchandise, meet-ups and more. The first exclusive content includes early access to the first single of the Cotton Candy Skies EP titled MONACO, which drops March 25 to the public.

“The fans and supporters investing in these Backstage Passes are giving me and my team a chance to make our dreams come true. That’s why I’m so excited to launch our upcoming record label Cotton Candy Records on the blockchain, which will allow us to help other artists with their projects,” Pipolo said.

He continued on the outlook of his embracement of blockchain technology in music. Besides the idea of artists leveraging NFTs for representation of their music or concert ticketing, Pipolo believes that this is just the beginning. According to him, blockchain technology is going to change the way consumers interact with their favorite artists.

In his future plans, Pipolo plans to roll out the first “on chain” record company. Dubbed Cotton Candy Records, this will be one of the first record labels on the blockchain according to him. 

“This will be revolutionary in the Web3 space and in the music industry as a whole,” said Pipolo.

deCashed’s President Sean Murray officially announces his newest media venture in Miami last week

For the past three months, deCashed has begun covering relevant topics to a sophisticated crypto-inspired reader. Our team has been slowly creating content, graphics and logos to accompany the deCashed name. With deBanked CONNECT taking precedent over the hard launch of the website, deCashed‘s President Sean Murray officially announced the brand’s launch upon the completion of deBanked CONNECT’s preparation, in his opening remarks at the event.

The announcement came as a surprise to many of the attendees of deBanked’s Miami event. As Miami’s vibrancy attracts a younger audience, it was not surprising to see a younger deBanked reader taking an interest in digital assets. Murray even hinted at the event already having interest in sponsorships, with one legitimate sponsorship deal in the works as of now.

“Everything with the deBanked brand and business will remain the same,” said Murray. “I’ve been using and following cryptocurrency for eight years at this point. [This] will finally provide us with the journalistic runway to expand our horizons into a market we already know [with] so much untapped opportunity.”

deCashed will slowly roll out its inaugural event, taking place in the Spring.

As independent media, deCashed is still in its early days,” Murray said. “It’s live already but stay tuned. We’ve been talking about doing this for a really long time.”