Autor Cointelegraph By Ana Paula Pereira

Quentin Tarantino settles Miramax lawsuit over Pulp Fiction NFTs

Quentin Tarantino settles Miramax lawsuit over Pulp Fiction NFTs

Uverejnil používateľ | sep 10, 2022 |

Miramax sued the director in November last year after the base-layer blockchain provider Secret Network announced the auction of “uncut screenplay scenes” from the 1994 film as NFTs. The film studio claimed to own all rights to “Pulp Fiction,” except for those reserved for Tarantino, which excluded nonfungible tokens. The company was developing its own NFT strategy at the time. In a statement, the studio’s attorney Bart Williams wrote: “This one-off effort devalues the NFT rights to “Pulp Fiction,” which Miramax intends to maximize through a strategic, comprehensive approach.” On the auction’s original press release, Secret Network claimed that Tarantino owned “exclusive rights to publish his Pulp Fiction screenplay and the original, handwritten copy has remained a personal creative treasure he has kept private for decades.” The auction raised $1.1 million in January, but was followed by the cancellation of additional NFT sales due to the dispute.Tarantino and Miramax have partnered in other successful productions, including “Kill Bill: Volumes 1 and 2”. “Pulp Fiction” ended up grossing $107.93 million in the United States and $213 million worldwide in the years since its release in 1994.Hollywood director Quentin Tarantino and producer Miramax appear to have settled their lawsuit over nonfungible tokens (NFTs) related to the blockbuster film Pulp Fiction following a months-long legal battle. The movie studio reportedly plans to withdraw its lawsuit within two weeks and collaborate with the filmmaker in the future, including on NFTs projects. 

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CleanSpark acquires mining facility in Georgia for $33 million

CleanSpark acquires mining facility in Georgia for $33 million

Uverejnil používateľ | sep 9, 2022 |

Crypto mining firm CleanSpark announced an agreement on Friday to acquire Mawson’s bitcoin mining facility in Sandersville, Georgia for $33 million. The deal is anticipated to increase CleanSpark’s hashrate by 1.4 exahashes per second (EH/s) in the next few months, and to 7.0 EH/s by the end of next year.As part of the agreement, 6,468 last-generation mining ASICs will be purchased for $9.5 million, or $17 per terahash. “These machines, already operating at the acquired site, will add over 558 petahashes per second (PH/s) of computing power immediately upon closing,” the company explains. For the facility and miners, CleanSpark will pay up to $42.5 million, including up to $11 million in CleanSpark stocks and $4.5 million in earn-out commitments. The site in Georgia can support 24,108 latest-generation miners and the company plans to expand to support 70,000 miners producing over 7.0 EH/s in 2023.G’day mate. $CLSK has agreed to acquire Australian-based @Mawsoninc’s #bitcoin mining facility in Sandersville, GA. This marks our 4th site in the state & it’s expected to support 7.0 EH/s of our #hashrate.More info: https://t.co/C9c20IYIhW#renewables #btc #sustainability pic.twitter.com/mdLmwtC5eK— CleanSpark Inc. (@CleanSpark_Inc) September 9, 2022CleanSpark has accelerated its consolidation in a bear market with high energy costs. On Thursday, the company announced a purchase agreement with Cryptech Solutions for 10,000 Bitmain Antminer S19j Pro units for a total price of R$ 28 million.In July, CleanSpark disclosed the purchase of over 1,000 Bitcoin miners from Whatsminer M30S at a “substantially discounted price”. In June, the mining company also bought 1,800 Antminer S19 XP rigs. During the bull market, the company focused on building infrastructure before ordering equipment months in advance. “This strategy positioned us to make purchases of landed rigs at significantly lower prices, thus reducing the time between deploying capital and hashing, accelerating our return on investment”, said Zach Bradford, CEO of CleanSpark.

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Former Meta execs raise $300M to ‘accelerate adoption’ of Sui blockchain

Former Meta execs raise $300M to ‘accelerate adoption’ of Sui blockchain

Uverejnil používateľ | sep 9, 2022 |

Mysten Labs, the company behind the yet-to-launch layer-1 blockchain Sui has raised $300 million aimed at building core infrastructure and accelerating the adoption of its Sui blockchain ecosystem. The blockchain company, which was founded by former executives of social media giant Meta in 2021 said in a Sept. 8 announcement that it landed $300 million in a Series B funding round led by crypto exchange venture arm FTX Ventures.: Today, we’re excited to announce our $300M Series B funding round. This milestone signals the technical strength & immense potential of our Sui ecosystem. #Suinami 1/ pic.twitter.com/wQ8WH1egyY— Sui by Mysten Labs (@Mysten_Labs) September 8, 2022Other Series B investors included Coinbase Ventures, Jump Crypto, Andreessen Horowitz’s a16z, Circle Ventures, Binance Labs, and O’Leary Ventures, among other investment funds and partners, with the new capital valuing the company at over $2 billion. In addition to equity, investors will receive warrants for native tokens to be traded on the future blockchain.Mysten is the creator of the Sui blockchain, a proof-of-stake layer-1 blockchain that uses a feature called “transaction parallelization” to achieve high throughput, low latency transactions, and low transaction fees, which may give existing blockchains such as Ethereum and Solana a run for its money. Mysten co-founder and CEO Evan Cheng said the new funding would be used to build its technology, the company’s with hiring efforts, and expansion to the Asia-Pacific region. “This new funding will enable Mysten to continue to scale Sui, and we are grateful for the support from blue-chip investors and strategic partners who are aligned in our mission.”Cheng suggested that current Web3 infrastructure “is in the dial-up era,” noting: “It’s slow, expensive, capacity constrained, insecure, and simply hard to build for.” The latest funding suggests that some venture capital investors remain unphased by the crypto bear market. A recent report from Messari revealed that $30.3 billion in funds was invested by VC firms in the first six months of this year, outpacing the entire fundraising year in 2021. Related: VCs pour $14.2B into crypto in H1 2022, but investments now slowingLast December, Mysten Labs raised $36 million Series A funding, led by a16z.The company was founded in Sept. 2021 by former cryptographical program engineers behind Meta’s crypto-payments platform Diem and mobile wallet Novi. Mysten Labs is led by CEO Evan Chang, CTO Sam Blackshear, CPO Adeniyi Abiodun, and chief scientist George Danezis.

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DeFi DApps activity rises 3.7% in August for first time since May — Report

DeFi DApps activity rises 3.7% in August for first time since May — Report

Uverejnil používateľ | sep 8, 2022 |

DeFi dapps showed a slight recovery for the first time since May, with the daily average of unique active wallets (UAWs) increasing 3.7% on a month-over-month basis, according to a report from DappRadar. The rise was partially driven by the Flow protocol, which rose 577% UAW due to Instagram’s support of its NFTs and the game Solitaire Blitz. On the other hand, Solana UAW shrank by 53% in August from the previous month, while transactions dropped by 68%, the findings showed.There were 1.67 million unique wallets connected to blockchain DApps in August, down 3.52% from last month, and down 14.73% compared to August 2021.Source: DappRadarAmong industries, gaming accounted for over 50% of the activity usage, with 847,230 daily UAW, although it is down 11% and the number of transactions declined 12.7% month-to-month to $698 million. On the NFT side, UAW fell by 16.7% to 114,542 — the lowest since June 2021, per the report. Despite the DeFi increase in unique active wallets, the overall DeFi total value locked (TVL) still showed a significant drop; from $250 billion at the beginning of 2022 to $74.21 billion in August. “The last time the TVL was this low was in April of 2021, when the space was just beginning to get momentum. This indicates that the DeFi TVL has decreased by 56% or more since August 2021.”The report highlighted that August was “particularly difficult for the market because of the Tornado Cash crisis,” which dropped the industry TVL by 10.47% to lose $8.7 billion. On Aug. 8, the U.S. Treasury Department accused the crypto mixer platform of laundering more than $7 billion in cryptocurrencies, including $455 million allegedly stolen by North Korean hackers. Following the sanctions, the Tornado Cash (TORN) price plummeted by 45% in two days, losing almost half of its market value.Ethereum chain controls 69% of the DeFi TVL with $51.47 billion, according to the report — although it has lost 11% last month, and dropped 56.63% since August 2021. Layer-2 protocols based on Ethereum showed signals of growth “mainly driven by the upcoming Ethereum Merge,” with Optimism increasing 57.61% in August for a $1 billion total locked value, Arbitrum rising 14.36%, and Polygon gaining 6.50% month-to-month.

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Brazilian SEC seeks to change its role in cryptocurrency regulation

Brazilian SEC seeks to change its role in cryptocurrency regulation

Uverejnil používateľ | sep 2, 2022 |

The Brazilian Securities and Exchange Commission is reportedly pursuing changes in the country’s legal framework with regard to its regulation of cryptocurrencies. According to local media, one major concern is that the bill in question does not appear to consider tokens as digital assets or securities — and they therefore wouldn’t fall under SEC regulation. The updated position of the nation’s SEC follows the appointment of a new board and the increased relevance of the crypto sector in the country’s financial services.Brazilian lawmakers have been working on regulations for cryptocurrencies since 2015, but the Senate only approved the final version of a bill in April 2022. Once Brazil’s Congress finishes its final revisions, the bill will be sent to the country’s president, who will sign it into law.As described in the approved text, a virtual asset is a digital representation of value that can be traded or transferred electronically, and used for payment or investment purposes. In addition, it outlines the best practices for Know Your Customer (KYC) procedures and sets up methods to prevent money laundering. Per the bill, nonfungible tokens (NFTs) are also not considered securities, while most other tokens are in the middle of discussions about whether they are.In a note to a local newspaper, a representative from Brazil’s SEC said:”The mentioned bill needs specific improvements, including the definition of virtual assets, prior authorization requirements, and the approval of business combinations in redundant roles with the Cade [Brazilian Federal Trade Commission].”Legislators said they believe that a possible resolution could be to send the bill to the president to determine via decree what roles the Brazilian Central Bank and the SEC should play in authorizing initial coin offerings and regulating the market. Some legislators consider this measure a legal uncertainty, arguing that an entirely new bill should be introduced. In June, another bill related to cryptocurrencies was submitted to the Brazilian Congress. If approved, the proposal would grant the right to use cryptocurrency as a means of payment, while protecting private keys from being taken by the courts. A draft of the law is currently waiting to be reviewed by the legislators’ committee.

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