Autor Cointelegraph By Ezra Reguerra

Warner Music Group partners with OpenSea: Nifty Newsletter, Sept 28–Oct 4

Warner Music Group partners with OpenSea: Nifty Newsletter, Sept 28–Oct 4

Uverejnil používateľ | okt 5, 2022 |

In this week’s newsletter, read about how Warner Music Group partnered with OpenSea to give artists a way to engage with their audiences. Find out how Tennis legend Maria Sharapova is exploring her growing interest in nonfungible tokens (NFTs), and check out how blockchain game Illuvium is trying to create an interoperable game. In other news, Meta enabled cross-posting for NFTs on Instagram and Facebook. And, don’t forget this week’s Nifty News featuring the Build-A-Bear Workshop entering Web3 and a CryptoPunk selling for 3,300 Ether (ETH) amid the bear market. Warner Music Group partners with OpenSea to create more Web3 opportunities for artistsEntertainment company Warner Music Group (WMG) partnered with the NFT marketplace OpenSea to let musicians engage with their fans using Web3. Through the partnership, some artists will be given early access to the platform’s new customizable drop pages feature.WMG executive Oana Ruxandra said that the collaboration will allow artists to create deeper engagement with their communities. The executive recognized that community engagement where artists and fans come together is fundamental to music. Continue reading…NFT space bridges passions for tennis legend Maria SharapovaTennis superstar Maria Sharapova made an appearance at the Binance Blockchain Week held in Paris, France. The tennis legend shared her interest in NFTs in an interview with Cointelegraph’s senior reporter Rachel Wolfson. Sharapova shared that she is curious about crypto and is in the process of figuring out how to engage with her fans using Web3. According to the athlete, she is thinking about a long-term project in the space. Continue reading…Illuvium co-founder shares plans for new “interoperable blockchain game” modelKieran Warwick, the co-founder of Illuvium — a blockchain game that integrates various Web3 elements like NFTs and digital assets — spoke with Cointelegraph at the Token2049 event in Singapore. According to Warwick, the team is building an interoperable blockchain game that he described as a series of games that are connected with each other, sharing NFTs and in-game currencies.The executive mentioned that it is are targeting around 500 million gamers and will focus on making the game a fun game and will not focus on the play-to-earn (P2E) aspect that many GameFi projects prioritize. Continue reading…Meta introduces NFT crossposting and sharing on InstagramSocial media giant Meta announced that users on Instagram and Facebook are now able to share their NFTs across both platforms. Users will be able to tag both creators and collectors and share between both of the platforms without paying fees. According to the social media firm, this feature will be available in more than 100 countries. The firm also mentioned that NFT artists like Lívia Elektra are already sharing their NFTs in Meta’s social media applications. Continue reading…Nifty News: Enter the afterlife in style, Solana NFT game demo hits Epic store and moreCustomized stuff toy company Build-A-Bear Workshop announced a partnership with an NFT marketplace called Sweet to celebrate its 25th anniversary with an NFT launch. Meanwhile, despite the market being bearish, a CryptoPunk sold for 3,300 ETH, worth $4.4 million at the time of writing. 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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Ether staking is too difficult, community members claim

Ether staking is too difficult, community members claim

Uverejnil používateľ | okt 3, 2022 |

After the Ethereum network’s transition to proof-of-stake (PoS), staking Ether (ETH) now plays a central role in validating blocks and securing the network. However, some community members believe that the staking process is too difficult, especially for regular people. In the Ethereum subreddit, a member of the community raised the topic of ETH staking and its difficulties. According to the user, it took them an entire weekend just to get things up and running. The user said that this may be something that those with “unforgiving” schedules can’t accommodate. They wrote: “The Ethereum community likes to sugarcoat usability but it’s healthier to just admit: this is not for everyone yet.”In response to the thread, another community member also shared their experience in staking ETH and reminisced on Ethereum’s early days. The user noted that blockchain interaction back then was also difficult before more user-friendly options came out. The community member also highlighted that setting up a node needs “more effort than we can expect the average person to put in.”Apart from the difficulties in setting up, the issue of bandwidth consumption was also brought up. Because of the high bandwidth consumption, a user said that there is a risk of being shut down by your internet service provider. Another user mentioned that the costs of going over the internet data cap can possibly kill any staking gains.Meanwhile, another community member disagreed, arguing that staking is not intended to be an easy thing that everyone can do. “People keep treating staking as getting free cash when it isn’t. You are effectively being paid to do a job and this takes a certain amount of knowledge and effort,” they said.Related: Staking providers could expand institutional presence in the crypto space: ReportEven though there may be some difficulties with staking, there have also been some positive developments post-Merge. On Sept. 15, the day of the Merge, the daily blocks created spiked from 6,000 to 7,100, showing an 18% increase. Apart from this, the average time that takes validators to verify transactions dropped by 13%.

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Mainstream media sentiment shifts in favor of Bitcoin amid fiat currency woes

Mainstream media sentiment shifts in favor of Bitcoin amid fiat currency woes

Uverejnil používateľ | sep 30, 2022 |

Despite USD bringing an onslaught to stocks, commodities and its rival currencies, Bitcoin (BTC) holds steady at the $19,000 to $20,000 mark, leaving mainstream media no choice but to put BTC into the headlines. American daily newspaper The New York Times highlighted BTC’s 6.5% increase in the last seven days and noted that this had caught the attention of crypto bulls and bears. Meanwhile, Fortune Magazine’s crypto outlet has also compared Bitcoin’s standout performance to other assets like the Japanese yen, Chinese yuan and gold, apart from the euro and pound. With fiat currencies like the euro and the Great British pound sterling failing to hold their ground against the United States dollar (USD), mainstream media outlets have started to put Bitcoin (BTC) into the spotlight for its steady performance. Source: moneymorning.com.auOn the other hand, the media outlet Proactive mentioned in their headline that it may be “time to put everything on Bitcoin.” Despite brushing the headline as sarcasm within the content of the article, the author highlighted that a majority of institutional investors are looking to put an end to the current crypto winter. Meanwhile, the Australian news website news.com.au has highlighted experts speaking positively on Bitcoin and blockchain’s use cases. Some experts even predicted that the BTC price might eventually hit a new all-time high of $100,000. Related: Crypto baffles mainstream media, but should blockchain advocates care?Meanwhile, as the British pound hit a new all-time low against the US dollar, Bitcoin’s limited supply could potentially give it an advantage against the pound. According to the finance site Porkopolis Economics, the issuance rate of the pound has been 11.2% annually since 1970 while BTC has a rate of 1.7%. This gives BTC a significantly lower supply issuance and this could potentially widen the gap between the two currencies. Bitcoin’s price is not the only crypto scoop that made it to the mainstream media spotlight recently. Earlier in September, mainstream media outlets also put their sights on Ethereum and its recent transition to a proof-of-stake (PoS) consensus mechanism.

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Spain's largest telecom brand dives deep into Web3

Spain's largest telecom brand dives deep into Web3

Uverejnil používateľ | sep 30, 2022 |

With crypto adoption moving forward in various parts of the world, Spain continues to encounter major developments in its local blockchain space as its largest telecom services provider dives deeper into Web3 technologies. Telefónica, the multinational telecom company based in Madrid, Spain, has enabled payments with cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), USD Coin (USDC) and many others on its online tech marketplace called Tu. The firm integrated a crypto payment feature provided by the Spanish crypto exchange Bit2Me to receive crypto in exchange for their tech products. The exchange teased the integration during its Telefónica Metaverse Day event.¿Qué creéis que estamos preparando con @Telefonica? pic.twitter.com/cYijpO1Zyj— Bit2Me (@bit2me) September 29, 2022Apart from integrating crypto in its online store, the telecom firm has also recently announced its collaboration with the software company Qualcomm Technologies to advance its extended reality (XR) ecosystem and bring the Metaverse to life. According to Daniel Hernández, an executive at Telefónica, their firm collaborated with Qualcomm to prepare for the future and build its infrastructure. This is to stay on top of developments so that they are able to provide innovative services to their customers. Apart from its efforts in integrating crypto and building the Metaverse, the company has also dabbled in nonfungible tokens (NFTs). The firm has built and released its own NFT marketplace integrated with the crypto wallet Metamask. Related: Bit2Me to onboard 100k blocked crypto investors from 2gether exchangeThis is not Telefónica’s first encounter with blockchain technology. As previously reported by Cointelegraph, the firm announced an initiative that supported blockchain and artificial intelligence (AI) startups in 2019. The move aimed to enhance traditional ecosystems with emerging technologies. In 2020, Telefónica collaborated with Deutsche Telekom and British provider Vodafone to test a blockchain solution to settle roaming discount agreements. The blockchain-based solution was expected to reduce the costs for the telcos and create more efficient settlement workflows for inter-company deals.

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Ooki DAO members explore options in response to CFTC lawsuit

Ooki DAO members explore options in response to CFTC lawsuit

Uverejnil používateľ | sep 29, 2022 |

Members of the decentralized autonomous organization (DAO) called Ooki DAO have started looking into an appropriate response to the charges filed by the United States Commodities Futures Trading Commission (CFTC).On Sept. 22, the CFTC announced a $250,000 penalty and settlement with bZeroX, the creators of the decentralized lending platform bZx protocol which suffered from code exploits in 2020 that led to hundreds of thousands in losses. In addition to this, the CFTC also filed a lawsuit against Ooki DAO over similar alleged violations of digital asset trading laws. In response, Ooki DAO members started to discuss how they should respond to the lawsuit. The DAO identified three potential responses including allocating funds from its treasury toward hiring lawyers for the DAO members. The second option brought up by the DAO members is to try and elicit support from the decentralized finance (DeFi) community to support the legal battle. Another option brought by members of the DAO is raising funds by selling nonfungible tokens (NFTs). The community discussed this possibility as well and highlighted that it’s another viable option to raise funds for litigation. Because of the options laid out in the discussion, it’s very likely that the DAO will initiate a governance vote to finalize a decision. Related: Pro sports league Karate Combat to launch DAO for fan, athlete governanceOn Sept. 23, the CFTC received backlash from its own commissioner for its actions against the Ooki DAO. According to CFTC commissioner Summer Mersinger, while she agrees with the charges against the founders of bZeroX, she could not agree with the Commission’s approach to determining liability for the DAO’s token holders. Meanwhile, CFTC’s Caroline Pham has recently proposed the creation of an office that’s dedicated to protecting retail consumers. Dubbed “Office of the Retail Advocate,” the office will become the people’s voice according to Pham. In a speech, the commissioner said that there is a need to balance innovation with retail protection and this will be the focus of the said office.

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