📢 Update
BM Digital Assets Classification Standard (BM DACS)
As part of our regular review process, some assets have been added recently to @ICONOMI ,we have classified them according to our sector classification methodology.
The classification is reviewed periodically to keep pace with changes occurring in the crypto market and appropriate industry regulation.
After any update to any project, its classification will be modified based on the project’s white papers.
Radical changes:
◾We have modified our internal classification of the media and entertainment sector to include: content creation, gaming, music, sports, video, memes, social media platforms, search engines, prediction markets, gambling, non-fungible tokens, metaverse, augmented reality and virtual reality.
◾We have added a specific sector to keep pace with the changes taking place in the market: Asset-Backed Tokens
Asset-backed tokens are digital claims on a physical asset and backed by that asset.
Gold, crude oil, real estate, stocks, agricultural crops like coffee and cotton, or any other real or physical asset can be converted into a token and become an asset-backed token, or any digital claim to fiat currencies.
We will look at the outcome of the digitization of physical assets as part of this sector in the future, we look at the outcome of the process in this sector and not the ecosystem that supports the digitization of physical assets.
Currently: The assets listed on @ICONOMI that meet these criteria are $USDT, $USDC, $PAXG.
These tokens rely on trust from a third party, so be careful when holding one of these tokens.
You can take a look at our Digital Assets Classification Standard here.
Feel free to explore the changes and reach out if you have any questions or need further clarification.
We hope this helps you understand the crypto market in a simple way.
Thank you for your trust and continued support.
Best regards,
🔵The Strategist
@MomenJaradat
@TDj_Slo up until last week, the ETFs saw very little demand compared to $BTC. We expect this to change over the coming weeks as it starts to outperform $BTC.