Autor Cointelegraph By Brian Quarmby

DAO treasuries surged 40X in 2021: DeepDAO

DAO treasuries surged 40X in 2021: DeepDAO

Uverejnil používateľ | dec 31, 2021 |

The total combined value of treasuries, or assets under management (AUM) for the use of decentralized autonomous organizations, increased by around 40 times between January and September of 2021. According to data from DAO stats platform DeepDAO, the total AUM for DAO treasuries listed on the platform increased from around $380 million in January to a peak of roughly $16 billion in mid-September. Looking ahead at 2022:✍️How far and how deep will DAOs go into the mainstream, and into which use cases?✍️(When) will DAO treasuries exceed $100B?Lots of interesting questions, but together we can BUIDL this! pic.twitter.com/JDEC9JBuHC— DeepDAO.io (@DeepDAO_io) December 30, 2021As of mid-December, the total AUM has decreased by 28.1% since the high water mark to sit at $11.5 billion, dropping a hefty $3.6 billion over the past 30 days alone. User participation in DAOs has surged as well throughout 2021, with the total DAO members and token hodlers tallying in at around 1.3 million in December, marking a 130x increase since the start of the year. DeepDAO ranks the DAOs for decentralized exchange (DEX) Uniswap, the general purpose BitDAO, and decentralized finance staking platform Lido Finance as the top three in terms of total treasury value at $2.9 billion, $2.4 billion and $602 million apiece. The Uniswap DAO has roughly 275,000 members that can vote on the project’s roadmap and maintain governance over the DEX. Uniswap has been the dominant DEX throughout 2021, pulling in more trading volume than all of the other DEXs combined according to Dune Analytics data. The Lido DAO governs its platform, and users are granted governance rights via the Ethereum-based LDO token. Lido Finance has also exploded in 2021, with the platform’s total value locked increasing from $12.5 million at the start of January to a whopping $11.68 billion in late December. According to data from DeFiLlama, Lido Finance currently sits as the sixth-highest ranked DeFi platform in terms of TVL.Related: DAO aims to raise $5M to resurrect Blockbuster VideoBitDAO is focused on supporting decentralized projects across any blockchain that are voted on by BIT token holders.The DAO has around 10,000 members and focuses on proposals relating to direct partnerships or swaps with projects, and expansion opportunities such as the launching of autonomous artist guilds, farming cooperatives and ecosystem funds. DAOs are becoming the digital native dream of the future of workA global movement that is amassing copious amount of capital and has turned into a powerful talent magnet providing alternative to big tech https://t.co/0LxGnRziYN— DeepDAO.io (@DeepDAO_io) December 28, 2021

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Nifty News: Decentraland Times Square NYE party, Mutant Apes go bananas and more…

Nifty News: Decentraland Times Square NYE party, Mutant Apes go bananas and more…

Uverejnil používateľ | dec 30, 2021 |

Times Square NYE party in DecentralandDecentralized Metaverse project Decentraland will unveil the virtual reality version of the iconic Times Square via a New Years Eve party that coincides with the timing of the real life celebration in New York city. The event is called the “MetaFest 2022 NYE Party” and will run until 8:00 am UTC on Jan. 1 in Decentraland’s Estate 4 district. It will feature live music, rooftop VIP lounges, a new tokenized collectibles and wearables drop, live feeds of real world NYE events across the globe, CryptoArt galleries and games. The virtual reality equivalent of the famous spot at the heart of New York is called “One Times Square,”, with the “one time” pun suggesting that the structure may be dissolved after the party concludes. Celebrate New Year’s in Times Square… in Decentraland!https://t.co/phe7qr10LY— Decentraland (@decentraland) December 29, 2021“Let’s party like it’s 2022: for Meta or for Worse” Decentraland punned in the event invite. Only around 150 people have registered their attendance so far, but you know how it is with parties — first you worry no one’s coming and then everybody shows up at once..Surging interest for Mutant ApesYuga Labs’ Bored Ape Yacht Club spinoff project the Mutant Ape Yacht Club has risen to the top of the secondary sales volume charts. According to data from CryptoSlam, interest in the Mutant Ape Yacht club NFTs have surged 355.29% over the past 30 days, generating $76.8 million worth of sales on secondary markets.The NFTs depict Mutant versions of the widely popular Bored Ape avatars, and it is currently the top ranked project in terms of 24 hour and 7 day volume.The recent trend appears to be part of a larger demand of Yuga Lab’s NFTs, as the seven-day secondary volume for its other projects such as the Bored Ape Kennel Club and the Bored Ape Chemistry Club have also increased by 915% and 345% respectively. While Yuga Lab’s NFT projects all sit in the top 10 of seven day sales volume, the biggest surge in demand appears to be for the Solana-based Crypto Astronauts NFTs, with secondary sales volume increasing by a whopping 172,235% within that time frame. Taking NFTs to the bank?Crypto-friendly Swedish bank Mecro Bank has outlined plans to enter the NFT and Metaverse sector. The bank offers services across Europe and is currently working on a pilot project to launch a digital asset custody service in the future.According to a Dec. 29 announcement, Mecro Bank aims to launch its own NFT collectibles as a new way to “make money,” and it is currently working on strategies to roll out a virtual banking experience across Metaverse-based virtual worlds. The firm cited the importance of integrating its services with emerging technologies and trends to meet the growing demand of users. “[The] Metaverse has been tipped to grow in importance as a digital financial platform for banking and financial transactions, as well as personal and business interactions. In order to make this new environment as immersive and realistic as possible, managing finances and transactions effectively will be critical,” the announcement read. Related: Leading toymakers launch NFTs on carbon-neutral blockchainCipher Punks NFT drop causes a stirAn unlicensed NFT project dubbed “Cipher Punks” depicting key figures from the Cypherpunk movement has been shut down after pushback from people featured in the tokenized artworks.The team behind the project, ItsBlockchain revealed in a Dec. 29 blog post that it was shutting down the collection of 500 NFTs just three days after launch, citing feedback from Cypherpunks who “didn’t like the idea of their images being used as NFTs and digital drawings.”Figures such as Electronic Frontier Foundation (EFF) speech activist and director Jillian York, noted on Twitter on Dec. 27 that they “don’t approve of this whatsoever” and asked the team to remove the NFT and digital artwork depicting them. I don’t approve of this whatsoever and would like it removed. https://t.co/xy6W2w97NF— Jillian C. York (@jilliancyork) December 26, 2021

The ItsBlockchain team said that it will be refunding every “single penny” anyone spent on the project, including gas fees and it has completely wiped the project off the internet, with its social media pages and OpenSea accounts no longer accessible. “We were not aware of the likeness laws in NFTs as the market is not regulated. It’s our mistake. We have to own up to it,” the blog post read. Well, someone reposted the NFT collection. This won’t go away, will it? https://t.co/4jQo0kUQ9h cc: @mattblaze @kataclyst @runasand @evacide @joncallas— Jillian C. York (@jilliancyork) December 27, 2021

Other Nifty NewsKraken co-founder and CEO Jesse Powell revealed last week that the crypto exchange will launch a nonfungible token (NFT) marketplace that will enable users to borrow funds against their NFTs.Italian luxury sports car manufacturer Ferrari is making moves in the blockchain industry after it penned a partnership with Swiss blockchain startup Velas Network. The deal will potentially see the with rollout of licensed Ferrari NFTs, as the start up firm has a specific focus on the sector.

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Hot Doges and Bitcoinana Splits on offer at Florida crypto restaurant

Hot Doges and Bitcoinana Splits on offer at Florida crypto restaurant

Uverejnil používateľ | dec 30, 2021 |

A new crypto-themed restaurant in Florida is slinging hot dogs and shrimp cocktails inspired by Dogecoin (DOGE) and Shiba Inu (SHIB), with the Dogedogs being highly prized by customers. The Clearwater Beach-based venue is dubbed the “Crypto Street Restaurant” and held a grand opening to the public earlier this month with a menu full of names that give a nod to popular crypto-assets and terminology. Ricardo is such a gentleman. If you hit #ClearwaterBeach make sure you stop by! #crypto $BTC #shopsmallbusiness @LayahHeilpern @CryptoStaceyB @FinTechShark1 @olya_borderless pic.twitter.com/QVPObPf3Ff— Alexandre Lores (@alexandre_lores) December 10, 2021The menu boasts dishes such as the Dogedog, Crypto Cuban, DeFi Caesar Salad, SHIBA Shrimp Cocktail and the Bitcoinana Split to name a few, while the restaurant’s decor is also decked out with crypto culture themed posters, wall art and furniture depicting Doge, Satoshi Nakamoto, Elon Musk and assortec Bitcoin memes.Crypto Street Restaurant, Source: Yelp.comAccording to the restaurant’s owner Ricardo Varona, Crypto Street accepts payment in all digital assets including memecoins and so-called “Shitcoins,” and the dogedogs have been “pretty popular” so far.During a Dec.29 interview with the Tampa Bay Times, Varona said that his 24-year-old son first introduced him to crypto a few years ago but he wasn’t a fan of the sector at the time. Over time however, he warmed up to the concept of crypto assets and initially considered launching a restaurant franchise that accepted crypto payments. After the pandemic hit and various expenses and supply chain issues became apparent, Varona said that he altered his plan to launch a single crypto-themed venue as opposed to a chain that simply accepted crypto. “I kept thinking I want to do something different, something fresh, and I kept thinking about crypto… I calculated what it would be to do something new, cut ties with the franchise and started working on Crypto Street.” “So far the younger crowd loves it and come back. With the older crowd, there’s a lot of people that have interest and similar stories to mine where their son or grandson taught them something. So it creates pretty cool conversations,” he added. Varona said that the restaurant can accept crypto payments via a merchant account or peer-to-peer directly to his wallet. “So far we have had a few transactions in crypto, though a lot of people are interested in using it. There’s also some people who just sold it or want to hold it in the long-term instead. But a lot of people understand that using it adds value,” he said. CRYPTO STREET RESTAURANT is HIRING cooks https://t.co/Rfsx4jXby1— Crypto Street Restaurant (@ClwBeachCrypto) December 29, 2021

Five stars for the food or the idea?In its short history, the Crypto Street Restaurant has been reviewed favorably online so far, pulling in a total of three five-star reviews on Yelp and eight five-star reviews on Google Reviews. “Pretty cool place! Excellent decoration, great menu options and super friendly staff. Owner is on top of everything and will gladly give you a tour of the thematic restaurant and explain how the crypto payment system will work,” says the review from elite Yelper “Eduardo F.”This is not the first time the beloved Dogecoin has been affiliated with hot dogs, after American meat manufacturing giant Oscar Mayer auctioned off a one-of-one pack of “Hot Doge Wieners” via eBay in August. Rel Dogecoin Foundation works with Ethereum co-founder on DOGE stakingLast month, Cointelegraph also reported that popular Fast-food chain Burger King partnered with retail trading platform Robinhood to give away free cryptocurrency primarily in the form of DOGE to its customers who sent $5 or more at its locations across the U.S.

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Polygon upgrade quietly fixes bug that put $24B of MATIC at risk

Polygon upgrade quietly fixes bug that put $24B of MATIC at risk

Uverejnil používateľ | dec 30, 2021 |

Ethereum-based layer two scaling network Polygon has quietly fixed a vulnerability that put almost $24 billion worth of its native token MATIC at risk. According to a Dec. 29 blog post from Polygon, the “critical” vulnerability in the network’s Proof-of-Stake (PoS) Genesis contract was first highlighted by two whitehat hackers on Dec. 3 and Dec. 4 via blockchain security and bug bounty hosting platform Immunefi.All you need to know about the recent Polygon network update.✅A security partner discovered a vulnerability✅Fix was immediately introduced✅Validators upgraded the network✅No material harm to the protocol/end-users✅White hats were paid a bounty https://t.co/oyDkvohg33— Polygon | $MATIC (@0xPolygon) December 29, 2021The vulnerability put more than 9.27 billion MATIC at risk that is valued at around $23.6 billion at the time of writing, with the figure representing the vast majority of the token’s total supply of 10 billion. Polygon noted that the bug was resolved at Block #22156660 via an “Emergency Bor Upgrade” to the Mainnet on Dec. 5 at around 7:27 am UTC. The network noted that a “malicious hacker” managed to steal 801,601 MATIC ($2.04 million) before the bug was resolved. The blog post said:“The Polygon core team engaged with the group and Immunefi’s expert team and immediately introduced a fix. The validator and full node communities were notified, and they rallied behind the core devs to upgrade 80% of the network within 24 hours without stoppage.”Polygon stated that the issue was fixed behind closed doors as it follows the “silent patches” policy introduced by the Go Ethereum (Geth) team in November 2020. Under the guidelines, projects or developers report on key bug fixes 4-8 weeks after they go live to avoid the risk of being exploited at the time of patching. According to Immunefi, Whitehat hacker “Leon Spacewalker” was the first to report on the security hole on Dec. 3 and will be rewarded with $2.2 million worth of stablecoins for their efforts, while the second unnamed hacker, referred to as “Whitehat2” will receive 500,000 MATIC ($1.27 million) from Polygon.Related: Here’s how Polygon is challenging the limitations of Ethereum, as told by co-founder Sandeep NailwalPolygon’s co-founder Jaynti Kanani emphasized the network’s ability to promptly resolve the critical bug, noting in the blog post that: “What’s important is that this was a test of our network’s resilience as well as our ability to act decisively under pressure. Considering how much was at stake, I believe our team has made the best decisions possible given the circumstances.”According to data from Coingecko, MATIC is priced at $2.45 and is up 35.1% over the past 30 days despite the current downturn across major crypto assets this month.

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Gamer-hate: Ubisoft's new NFT project vid gets 96% dislike ratio

Gamer-hate: Ubisoft's new NFT project vid gets 96% dislike ratio

Uverejnil používateľ | dec 10, 2021 |

French gaming giant Ubisoft Entertainment SA’s new nonfungbile token (NFT) project Quartz is facing strong pushback from the gaming community. Ubisoft unveiled the Beta launch of Quartz via a brief YouTube video on Dec. 8 that has 214,721 views at the time of writing. The project aims to combine NFTs and blockchain technology with existing Triple-A game titles, and announced Tom Clancy’s Ghost Recon Breakpoint as its first game to officially integrate NFTs. The video introduces Quartz as a platform that enables gamers to “collect the first playable and energy-efficient Ubisoft NFTs” that are dubbed as “Digits.” YouTube recently changed its policy to hide the number of dislikes a video on the platform gets, however the number can still be accessed by Google Chrome extensions. Upon using an extension, the video currently shows 1,400 likes and 37,000 dislikes which equates to a dislike ratio of roughly 96%. One of the top comments on the video from user “OperatorDrewski” currently has 2,600 likes with zero dislikes, and blasts Ubisoft’s NFT project as a quick cash grab as opposed to improving the overall gaming experience: “To me, this is a blatant signal that you’re just milking the Ghost Recon franchise for literally every cent while putting in minimal effort into the actual game itself. Not playing a GR game in the future if there’s this level of degeneracy in the team.”“You took a solid franchise and absolutely made it a laughing stock,” they added.This opinion appears to be shared by a significant number of the community, with users on Twitter also lashing out at the firm in response to its latest announcement as they threatened to uninstall the firm’s games and boycott Ubisoft completely. Because of my personal view of NFTs and not because of the environmemt entirely, I will now proceed to uninstall anything related to you right now and cease further purchases of your games.That is all. For people that dislike Current Ubi’s marketing, just stop buying.— Skyeeeely – Lazy VStreamer Cat (@Sukaaaily) December 7, 2021A Dec. 8 post over on the r/gaming page on Reddit shows a concerted effort to boycott the new NFT project. The post titled “do not support “Quartz”, the new NFT Ubisoft marketplace” from “u/WolverineKuzuri93” currently has 2,500 comments and an upvote ratio of 93% at more than 13,400 upvotes. The Redditor highlights similar issues to the top commenter on YouTube, noting that:“We have to stand against this practice. […] This is just another way to nickel and dime players with cosmetics rather than focusing on making quality products with depth. We have to let companies know this is anti-consumer.”“I’m not entirely against the concept of using an NFT style system for digital games. For example, actually owning your digital copy rather than just a license so you can sell it to another user’s account. That’s actually the future of digital gaming. What I’m against is how Ubisoft are doing it with in-game items,” they added. Gamer backlash to NFTsThis is not the first time a major firm has been flamed for looking at, or launching into the world of NFTs. Cointelegraph reported last month that community messaging app Discord was forced to walk back its Ethereum-based NFT integration plans, after the gamer community bombarded CEO Jason Citron. Citron initially teased his firm’s plans via a screenshot of a beta feature showing Ethereum NFT wallet support, however he was promptly hounded with thousands of comments calling on him to abandon the plans along with users threatening to cancel their paid Nitro subscriptions.Reddit: OpenSea walks back on IPO plan following community backlashUnlike the case of Ubisoft, where the community appears to be peeved by what they assert is a cash grab, the crypto-skeptics on Discord believe NFTs are a Ponzi scheme and damage the environment due to the energy required to mine cryptocurrencies.Cointelegraph has reached out to Ubisoft representatives for comment, and will update the story if they respond.

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