Autor Cointelegraph By Ezra Reguerra

Two Bored Apes sell for $1M each: Nifty Newsletter, Nov. 23–29

Two Bored Apes sell for $1M each: Nifty Newsletter, Nov. 23–29

Uverejnil používateľ | nov 30, 2022 |

In this week’s newsletter, read about how two Bored Ape nonfungible tokens (NFTs) sold for almost $1 million during the bear market and how the word “metaverse” made it into the top three finalists for Oxford Word of the Year. Check out how the metaverse can generate passive income through royalties and how NFT marketplace OpenSea has integrated BNB Chain into its platform. And, don’t forget this week’s Nifty News featuring COVID-19 protests in China being converted into a Polygon-based NFT collection. ‘Metaverse’ a top 3 contender for Oxford’s Word of the YearThe word “metaverse” has made it through to the top 3 finalists for the Oxford Word of the Year (WOTY) competition. The word will go against other contenders, including “IStandWith” and “Goblin Mode.”In a video pitch, the Oxford University Press (OUP), the publisher of the popular Oxford English Dictionary, described the metaverse as “a hypothetical virtual reality environment in which users interact with one another’s avatars and their surroundings in an immersive way.”Continue reading…OpenSea’s Seaport Protocol onboards creators and NFT holders on BNB ChainOpenSea has announced its plans to integrate BNB Chain into its NFT marketplace by the end of 2022. The integration will enable the platform’s users to buy and sell NFTs based on BNB Chain. According to the announcement, the integration will allow creators within the BNB Chain to have multiple payouts, real-time payouts and collection management. An executive at BNB Chain said that their aim is to provide better experiences to both platforms’ users, suggesting that the integration will bring creators into a wider system and empower NFT initiatives within the BNB Chain ecosystem. Continue reading…ApeCoin geo-blocks US stakers, two Apes sell for $1M each, marketplace launchedWhile the rest of the crypto community weathers the effects of the bear market, some collectors are continuously beefing up their NFT collections. BAYC #232 was bought by the anonymous NFT collector Keungz for 800 Ether (ETH), which was around $950,000 at the time of purchase. On the other hand, BAYC #1268 was transferred in a transaction between two unknown wallets. The NFT piece was sold for 780 ETH, which is estimated to be around $940,000 at the time of the transaction. Continue reading…The metaverse is a new frontier for earning passive incomeIn an article, Cointelegraph dived deep into the metaverse as a means of generating passive income. In an interview, a metaverse app executive John Burris told Cointelegraph that the metaverse is full of opportunities to earn money. According to Burris, blockchain and NFTs unlocked true ownership and created a new royalty model that allows funds to continue to flow back to the original creator, providing a “well-deserved passive income” as items get traded. Continue reading…Nifty News: China’s lockdown protest NFTs emerge, Candy Digital cuts staff and moreMeanwhile, images showing COVID-19 protests in China have been uploaded to OpenSea as NFTs. A collection based on Polygon called Silent Speech featured 135 NFTs that show pictures of protesters, signs, graffiti and screenshots that relate to the ongoing protests against China’s zero-tolerance policy for COVID-19. On the other hand, NFT firm Candy Digital has laid off a significant portion of its employees as NFT trading volumes went down in 2022. Continue reading…Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.

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Crypto Stories: John McAfee tells the story of how he first found out about Bitcoin

Crypto Stories: John McAfee tells the story of how he first found out about Bitcoin

Uverejnil používateľ | nov 30, 2022 |

From the Cointelegraph archives, John McAfee tells his crypto story and takes a look back at his very fascinating life.Early in his life, the computer programmer landed a job at the United States National Aeronautics and Space Administration, also known as NASA, and worked on the world’s first weather satellite. There, he learned about computer security and people’s concerns over unauthorized actors gaining access to private data. McAfee also shared that he made all his money not from the popular “McAfee” antivirus software but from other projects. He explained: “People know me from McAfee, but no, that was not my greatest success. That was some trivial thing. It was my future things, which I did not attach my name to, that taught me and made me all of my money.”In 2011, McAfee’s friends pressured him into reading the Bitcoin (BTC) white paper published by its pseudonymous creator Satoshi Nakamoto. The computer programmer was impressed with the power of Bitcoin’s mathematics and saw the digital asset’s world-changing potential. According to McAfee, his entry to crypto started with being the chairman and CEO of MGT, which was the world’s sixth largest BTC mining firm, valued at $800 million. However, McAfee noted that it eventually folded when BTC sank after going sky-high. Related: Crypto Stories: How an entrepreneur raised $10M for her startup during a bear marketThe company was delisted by the New York Stock Exchange, which McAfee claimed was a warning shot — an attempt to silence him and a threat that he would be destroyed if he didn’t be quiet. McAfee continued the story: “First of all, they tried to collect me in America when they convened a grand jury. I found out about it beforehand, so we left the following day to Florida. We picked up our yacht with Janice, myself, four large dogs and seven of my staff and sailed away, went to the Bahamas.”McAfee said that they eventually went to Cuba and then to the Dominican Republic, where they were arrested before getting off the boat.

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What is the best crypto use case? Community answers

What is the best crypto use case? Community answers

Uverejnil používateľ | nov 30, 2022 |

While fears surround the crypto market because of how big projects and firms file bankruptcy one after the other, community members continue to remind the world of the best use cases for cryptocurrency. On Twitter, the Cointelegraph social team asked the community to share their perspectives on what the best crypto use case is. From payments and self-custody to transparency and investment, community members gave a wide range of responses.What is the best use case of crypto?— Cointelegraph (@Cointelegraph) November 29, 2022One community member highlighted the use of stablecoins like Tether (USDT) as payment methods while pointing out that other cryptocurrencies can be used as investment tools. On the other hand, another response brought up the transparency that crypto brings. Apart from these, one answer also raised the concept of saving, spending and self-custody, which recently became more talked about since the FTX collapse. Meanwhile, another answer wrote the best use case is still how crypto provides a decentralized, peer-to-peer transaction mechanism that eliminates middlemen like banks and allows the bankless to have access to a financial instrument. Contrary to some answers, a community member replied that the crypto space should target everyday utility. According to the Twitter user, decentralized finance (DeFi), nonfungible tokens (NFTs) and trading might not move crypto adoption forward to the rest of the world. The community member pointed out that it’s time for the crypto ecosystem to upgrade its utility. Related: Will Ethereum ever surpass Bitcoin? Crypto community answersAnother Twitter user echoed the previous sentiments by highlighting that payments still remain the best use cases of crypto. The community member also pointed out the possibility of Dogecoin (DOGE) being implemented on Twitter as a means of payment within the social platform. Amid the downturn of crypto markets, many community members believe that Bitcoin (BTC) and crypto are here to stay. Some argue that the current FTX crisis is only a black swan event, while others reaffirmed their undying faith in crypto.

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Brazil passes law to legalize crypto as a payment method

Brazil passes law to legalize crypto as a payment method

Uverejnil používateľ | nov 30, 2022 |

While Brazil has not made Bitcoin (BTC) legal tender as El Salvador did last year, the South-American nation has passed a law that legalizes crypto payments throughout the country. The Chamber of Deputies of Brazil, a federal legislative body, has passed a regulatory framework that legalizes the use of cryptocurrencies as a payment method within the country. While this makes significant progress for crypto within Brazil, the law still requires the signature of the president of Brazil for it to be enacted. The passing of the bill does not make any cryptocurrencies legal tender within the country. However, the bill will include digital currencies and air mileage programs in the definition of payment methods that are under the supervision of the country’s central bank. After being passed into law, the government’s executive branch must decide which office will be will be in charge of supervision. Still, tokens that will be considered securities will remain under the jurisdiction of the Brazilian Securities and Exchange Commission (CVM).Apart from designating crypto as a payment method, the law enables the creation of licenses for crypto exchange platforms and for custody and management of crypto by third parties. In addition to this, the law will require exchanges to make a clear distinction between company and user funds, to avoid another incident like the FTX collapse. Related: UAE regulator revokes FTX license amid the exchange’s collapseBack in June, a similar proposal was issued to allow Brazilians to use crypto as a means of payment and protect their private keys from being taken by courts. The proposal aims to make crypto assets a means of exchange and an “instrument of access” to goods, services, or investments. Meanwhile, while the FTX collapse has impacted many sectors within the crypto space, it will not affect everyday crypto use for Brazilians according to Thiago César, the CEO of Transfero Group, which is closely tied to the Brazilian crypto ecosystem.

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BlockFi bankruptcy filing triggers a wide range of community reaction

BlockFi bankruptcy filing triggers a wide range of community reaction

Uverejnil používateľ | nov 29, 2022 |

As crypto lending platform BlockFi filed for bankruptcy, members of the crypto community reacted with mixed feedback as another platform fell during the current bear market. Despite BlockFi citing the FTX contagion as the reason for its bankruptcy filing, podcaster Matt Odell pointed out a different explanation. Odell wrote that the lending platform went bankrupt because it was lending customer funds to high-risk traders who played with leverage recklessly. “This is a tale as old as Bitcoin, leverage kills, and trusted third parties are security holes,” he added. In a tweet, Mario Nawfal highlighted that BlockFi’s bankruptcy filing was something that many members of the community anticipated. According to Nawfal, the bankruptcy filing marks the end of an era for the lending and yield-earning platform that was able to barely hang on after the Voyager and Celsius debacles.With many losing funds during the process, some pointed their pitchforks to entrepreneur and podcaster Anthony Pompliano who introduced them to the lending platform. A Twitter user claimed that they lost most of their savings after listening to Pompliano’s podcast that recommended BlockFi. Another community member claimed that they diversified their portfolio by putting some funds in FTX, BlockFi and Bitcoin (BTC) which Pompliano recommended. They noted that two out of the three have already gone to zero. ShapeShift founder Erik Voorhees also reacted to information coming out that the Securities and Exchanges Commission (SEC) is one of the creditors for BlockFi. Voorhees floated the idea of the SEC returning $70 million that they took from BlockFi in order to help the users that they should be protecting. Related: Silvergate denies recent FUD, confirms minimal exposure to BlockFiMeanwhile, the crypto lending platform has filed a lawsuit against former FTX CEO Sam Bankman-Fried’s holding company called Emergent Fidelity Technologies. BlockFi hopes to get Bankman-Fried’s shares in Robinhood that were used as collateral earlier this month.

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