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Cryptocurrencies Are Legal in India | YouTube’s Gaming Head Joins Polygon | Cricket NFTs Launched

This week in Indian crypto news, India makes cryptocurrencies legal with a crypto tax in budget 2022, FanCraze launches NFTs for cricket fans, Hike partners with Polygon to move into web3, YouTube’s head of gaming joins Polygon Studios, Stader Labs raises $12.5 million and Flint raises $5.1 million.

00:00 Introduction
01:58 India makes cryptocurrencies legal with a crypto tax in budget 2022
05:24 YouTube’s head of gaming joins Polygon Studios
06:23 Hike partners with Polygon to move into web3
07:31 FanCraze launches NFTs for cricket fans
09:10 Stader Labs raises $12.5 million
11:20 Flint raises $5.1 million

India makes cryptocurrencies legal with a crypto tax in budget 2022: Indian government has introduced a 30% tax on virtual assets – cryptocurrencies and NFTs – essentially making them legal in India. This decision has brought a lot of clarity and joy among all the crypto investors and web3 enthusiasts in the country.

YouTube’s head of gaming joins Polygon Studios: YouTube’s head of gaming Ryan Wyatt is leaving YouTube to join blockchain technology company Polygon – where he will be heading Polygon Studios as its CEO. According to Polygon Studios LinkedIn description, it seems like Polygon is building a blockchain-based media and content platform and their focus seems to be gaming for now. They have already launched a $100 million fund to invest in NFT-based gaming projects.

Hike partners with Polygon to move into web3: After shutting down their messaging platform last year, Hike is now focused on building their casual play to earn gaming platform Rush. The company has now partnered with Polygon to help them transition from a web2 to a web3 company as they plan to add NFTs and launch more play to earn features for their users.

FanCraze launches NFTs for cricket fans: Cricket NFT platform FanCraze has launched digital collectables or NFTs called ‘ICC Crictos’ in partnership with the ICC. This means that cricket fans around the world will now be able to own short digital clips of their favourite cricketing moments from Yuvraj Singh’s six sixes to Mahendra Singh Dhoni’s 2011 world cup winning six. And the best part is, they will be able to buy these NFTs using fiat currencies through payment methods like credit/debit cards, wallets and UPI – making them accessible to the masses.

Stader Labs raises $12.5 million: Crypto staking management platform Stader Labs has raised $12.5 million in a round led by Three Arrows Capital – raising their valuation 9X in just three months from $50 million to $450 million.

Flint raises $5.1 million: Crypto investment platform Flint has raised $5.1 million in a round led by Sequoia Capital and Global Founders Capital to help them provide passive investment opportunities to their users in the crypto market.

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