The FTX bankruptcy ignited the flames as the Indian cryptocurrency markets were just beginning to recover from the Terra-Luna, Hyperverse crashes.

Bitcoin was already down by 50% in June, starting nosediving after FTX collapsed. When Indian investors are trying to cope with the Terra luna and Hyperverse crash, FTX possibly makes it a final journey. Some of them already start to make exit plans and go back to Dalal Street. Overnight inflated money is under question.

Bosses of bootstrapped businesses stormed on Linkedin to grill Binance founder, fake influencers and FTX's outgoing chief. Popular US business magazine Forbes is also under fire for promoting FTX chief on their cover page.

What market says–

Govt want to control or impose 'restricted use' on it!

Five cryptocurrency exchanges (Cryptokart, Koinex, Coinsecure, Coindelta, and BTCXIndia)in India have already been closed since the post-pandemic global crypto market plunged into significant difficulties, lost the inflation-hedge image.

Marketplace owners advised to 'wait and watch' strategy, but the present environment and The cautions compelled them to prepare an exit plan. After RBI's digital currency launching, the Finance Minister and the US Secretary of the Treasury discussed cryptocurrency laws on November 11, 2022. 

What's in the regulator's mind?

Govt doesn't want to dissolve the ₹70,000 crores investment in crypto; however, FM eyes on G20 development this November to push for a central regulator in the decentralized world. Some crypto bodies shifted outside of the country due to heavy tax and administrative crackdowns.

RBI's made in India 'crypto'—

India's central bank, RBI, launched its 'centralized' digital currency to compete( or end) with crypto-mania.

As the first transaction following the currency launch, SBI sold securities to BoB using CBDC.

Large payments and settlements will be made using the digital rupee. It will be utilized, in accordance with the RBI, as the settlement sum for both the acquisition and sale of government securities, such as government bonds. It will also soon be utilized for retail transactions.

One can check their wallet balance by monitoring their bank balance. Blockchain technology will be the foundation of CBDC. People can send it to anybody they like, and it will arrive in their account.

CBDCs come in two varieties: Central Bank Digital Currency Retail, which will be used for retail in the second phase, and Central Bank Digital Currency Wholesale, which is utilized for huge volumes of transactions.

1. Twitter users from India riot over their "Hyperverse Withdrawal" hastag.
2. In August of last year, the company had a comparable problem, but after the CEO joined the picture, investors' confidence was recovered.
3. Over the past week, HyperVerse's price has dropped by 19.34%.
4. According to data from Coinbase, the price increased by 2.20% over the previous 24 hours after declining by 3.37% in the previous hour.
5. The current price of HyperVerse is ₹0.0017 , which is 100% less than its previous high price of ₹631.1.
6. HyperVerse was developed with a special metaverse in mind to allow customers access to the fashion sector together with digital riches.
7. Some investors desire to move their funds from HyperVerse to HyperNation before withdrawing them.
8. Investors' fear of scams is growing despite their Telegram and Twitter channels being silent.
9. Exclusive digital collections from well-known apparel labels were being created by HyperVerse and would only be available to HyperVerse subscribers.
10. HyperVerse is confronted by Twitterati about its withdrawal issues and threatened with legal action; the threat of legal action is ridiculed for being likened to a Ponzi scheme.

Non-Fungible tokens, the buzzword of 2022, has indeed taken the market by storm. Not only has it created a rippling hype across the entire virtual world, but has provided immense opportunities to make money.

So, what has this year brought for us in NFT marketplace? It’s of course, an amazing place to trade any of your creative stuff. Let’s grab those all!

1. Music: Now you can be the first winner to grab an original music piece from your favourite musician. Musicians are now launching their music productions directly on NFT marketplace.

2. Artwork: Popular NFTs in 2022, digital artworks actually top the list. Be it photographs, paintings, sketches of drawings, NFTs market them all.

3. Memes: Yes, memes are selling like hotcakes in NFT markets.

4. Videogames: Thanks to blockchain, games are popularly traded items on NFT marketplaces.

5. Fashion: Beauty and fashion found a new platform to trade on NFTs.

Crypto, NFT, Decentralisation, and Blockchain are high-tech and fancy terms floating across the air. Now, as investors spanning various age groups get into the euphoria of increasingly investing in cryptos, there are also higher risks. So you have to be smart when buying virtual assets to ensure risks are well compensated with benefits.

1. Do thorough research before investing in one. Connect to veterans who have been playing in the market with huge gains.

2. Invest in play-to-earn. Get your ball rolling in numerous crypto games which let you win by playing.

3. Do not rush through the hype. Instead, stay in the market patiently instead of getting trapped in the bubble. Start with investing in market leaders – Ethereum and Bitcoin.

4. Watch out for scams. Do not get swept with lucrative emails by fraudsters.

5. Keep a check on the volatility of the market while investing.

Can metaverse island beat the property investment

Metaverse has no wonder caught the fancy of property investors, fancy real-estate buyers, and other tech-lovers of the current generation. The sale of metaverse properties crossed $500 million in 2021, and the figures are counting in 2022.

As of now, metaverse property buyers are focussing on Somnium, Cryptovoxels, Decentraland, and Sandbox, but new platforms are mushrooming. So, the question is, will the metaverse island bubble crash real property investment?

Well, both have their own set of customers. It’s all about preferences and affordability. One of the stories is – that you gain higher ROI by investing in virtual islands. Also, you accumulate more virtual assets for yourself and your next gen. So you get to invest in land, buy properties, and host conferences, meetings, and shows by connecting online.

On the flip side, for those who love human connection, the serene nature and want to experience the reality of dwelling in a dream property in a natural locale, the real-life property takes the upper seat.

Reacting after the Budget, Sundara Rajan TK, Partner at DVS Advisors LLP, said: “The clarity on tax of digital assets is long due and was expected to be provided this year. The announcement of tax at 30% on digital asset, coupled with the government launching its own digital currency, is an indication that the government intends to discourage the same and would intend that only the HNIs make such investments and that the government shall not permit cryptos as currency. The caping of surcharge at 15% is welcome and though no separate relief was given to HNIs, this would also be favourable to such HNIs with high capital gains income.”