Autor Cointelegraph By Gareth Jenkinson

3D NFT marketplace bridges three-dimensional functionality across metaverses

3D NFT marketplace bridges three-dimensional functionality across metaverses

Uverejnil používateľ | júl 19, 2022 |

MetaMundo looks to bring three-dimensional art and assets to some major metaverse environments with the launch of its marketplace and nonfungible token (NFT) architecture.Users from popular metaverses like Decentraland, Cryptovoxels, The Sandbox and Spatial will be able to collect and own NFT assets like galleries, luxury villas, music venues, parks, avatars, vehicles and other creations directly from 3D artists, architects and designers.MetaMundo has built an NFT architecture on the Ethereum blockchain, which is specifically designed to power 3D files and Metaverse interoperability. The use of a flexible metadata structure allows multiple 3D files to be incorporated into a single NFT. NFTs sold on MetaMundo will come with a bundle of 3D files compatible with Metaverse platforms while new 3D files can also be added to a specific NFT. MetaMundo is able to convert and optimize 3D files to create multiple metaverse optimized assets.Related: NFTs are changing the way photographers create and market contentUsers will be able to preview and interact with the 3D files bundled within each NFT through the MetaMundo marketplace before making a purchase. MetaMundo co-founder Finn Hansen noted that the platform looks to pioneer NFT functionality across different blockchain projects:“We’re solving the lack of NFT interoperability through a unique architecture we’ve developed, which features a versatile and extensible NFT metadata structure, supporting multiple 3D file versions and offering the flexibility to add additional file versions later to enable future-proofing as 3D technology evolves.”The company has onboarded a number of 3D creators that have extensive work both in the Metaverse space and real-life art. Netherlands-based NFT artist Dutchtide, American modernist architect Luis Fernandez and Metaverse architect Mila Lolli headline the creators partnered with the marketplace.MetaMundo’s initial 3D NFT releases will feature Dutchtide’s Brutalist-architecture-inspired Japanese Zen Art Gallery and an ocean-side luxury villa created by Fernandez.

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Crypto winter has 250 days left if the market cycle repeats: Grayscale

Crypto winter has 250 days left if the market cycle repeats: Grayscale

Uverejnil používateľ | júl 18, 2022 |

Grayscale Investment’s latest Insight report provides interesting food for thought, pinning the start of the current bear market in June 2022,  which could last another 250 days if previous market cycles are to repeat themselves.Grayscale notes that cryptocurrency markets mimic their conventional counterparts with cyclical movements. Bitcoin (BTC) market cycles conventionally last 4 years or approximately 1,275 days. The firm defines a cycle when the realized price of BTC moves below the current market price.Realized price is determined by the sum of all assets at their purchase price divided by the asset’s market capitalization. This gives a measure of how many positions are profitable, if at all. June 13 saw the realized price of BTC cross below market price, which Grayscale identifies as the start of the current bear market.The firm believes this presents a prime investment opportunity – which is set to last another 250 days from July if the duration of previous cycles repeats itself.Retracing history, Grayscale highlights the 2012-2015 market cycle with events like the rise and fall of the dark web marketplace Silk Road and the infamous Mt. Gox debacle, which led to the first major bear market. The development of Ethereum, major exchanges and wallet providers led to a gradual climb to the next highs in the market.2016 to 2019 will be remembered for the boom in initial coin offerings, made possible by smart contract functionality introduced by Ethereum. Much of the capital that flowed into the cryptocurrency ecosystem in late 2017 exited the following year, as the second major bear market began.The 2020 market cycle will be remembered as a story of leverage. Grayscale notes that investors were enticed to leverage trade with increased government spending during the Covid-19 pandemic. Related: Terra contagion leads to 80%+ decline in DeFi protocols associated with USTA positive funding rate lasted for six months, with many traders leveraging positions with cryptocurrency as collateral. When crypto prices dipped, traders were forced to sell, which triggered a cascade of liquidations, seeing BTC drop from a November 2021 peak of $64,800 to $29,000 in June 2021.Again leverage hurt the markets a year later, but DeFi’s major centralized finance (CeFi) players faltered after attracting massive investment with attractive yields. The rest is history, as the collapse of the US Terra stablecoin (UST) engulfed the ecosystem. Over-leveraged traders and positions were liquidated across various CeFi platforms – which exacerbated market sell-offs and sunk major capital lending firms in the space like Celsius and Three Arrows Capital.

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Germany and the US share the top spot in the global crypto rankings: report

Germany and the US share the top spot in the global crypto rankings: report

Uverejnil používateľ | júl 15, 2022 |

Germany and the United States shared the spoils in the latest quarterly global cryptocurrency rankings released by analytics firm Coincub.The two countries now share the top rankings, with Germany making space for the rising U.S., having topped the first quarter rankings for 2022. Their dominance is due to progressive regulatory environments and major Bitcoin (BTC) investments by mainstream institutions.Coincub’s rankings tally up points across nine overall categories, which focus on government, financial services, population, taxation, talent development and industry participants, trading, fraud and environmental potential. The current ranking system introduced new sub-categories like crypto education courses and initial coin offerings to create a more comprehensive gauge.Germany’s move to allow its savings industry to utilize crypto investments and benefit from a zero-tax policy on capital gains of Bitcoin and Ether (ETH) held for more than a year was a key reason for its rise to the top of the rankings earlier this year. The U.S. moved up from third to share the top rank, driven by president Joe Biden’s executive order on Ensuring Responsible Development of Digital Assets in March 2022. The directive aims to guarantee the responsible development of the space, provide consumer protection and financial stability, and combat illicit activity.Coincub also cited global investment firm Fidelity’s decision to include Bitcoin exposure as part of select American pension funds in April 2022 as a pivotal role in the country’s climb up the crypto rankings. Parallels were drawn with a move by Germany’s financial services firm Sparkasse to enable its 50 million users to buy Bitcoin directly from their bank accounts.Switzerland sits third on the global crypto rankings, driven by the most recent development in the country which saw the canton of Lugano recognize Bitcoin as legal tender. This allowed citizens in the area to make everyday payments using BTC, including taxes and municipal accounts and services.More than 1000 blockchain and virtual asset service providers (VASPs) call Switzerland home, and the country ranks highly for its number of Bitcoin nodes and ATMs. VASPs have to be licensed by the Swiss Financial Market Supervisory Authority (FINMA) and abide by anti-money laundering (AML) and Know Your Customer (KYC) policies.Related: New crypto owners nearly doubled in 3 key regions in 2021: ReportSingapore is ranked fourth after Q2 in 2022, having fallen from its top spot at the end of 2021 due to recent regulatory tightening from the country’s financial regulator and the central bank. Australia rounds off the top five of Coincub’s crypto rankings, with the firm highlighting a high number of initial coin offerings, exchanges and transaction volumes as well as a number of universities offering blockchain and crypto educational courses. Coincub’s rankings combine quantitative data including trading or mining volumes with qualitative elements like government legislation and institutional attitude towards cryptocurrencies. Their reports look to provide a consolidated view of a country’s stance by amalgamating qualitative information and quantitative data.

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Indian blockchain firm 5ire secures $100M to fund sustainability-focused project

Indian blockchain firm 5ire secures $100M to fund sustainability-focused project

Uverejnil používateľ | júl 15, 2022 |

An ambitious sustainability-based blockchain project has secured $100 million in a Series A funding round to drive its development.Indian entrepreneurs Pratik Gauri and Prateek Dwivedi have spearheaded the foundation of a fifth-generation blockchain network known as 5ire, which looks to incentivize the implementation of United Nations’ sustainable development goals (SDGs) for users of its system.The project has now attracted a total of $121 million in investment. A seed round secured $21 million from notable tech investors, including Alphabit, Marshland Capital, Launchpool Labs and Moonrock Capital.A subsequent series A fundraising round secured a $100 million investment from UK-based conglomerate SRAM & MRAM. 5ire intends to expand its business into Asia, North America and Europe in addition to its operations center in India.5ire presents a novel use case for blockchain technology that looks to promote practices that are aligned with United Nations SDGs. Its 5ireChain network is described as a first-layer, sustainability-driven, fifth-generation blockchain. 5ireChain is operated by a unique ‘sustainable proof of stake consensus protocol,’ which will rank node validators based on the number of sustainable and ESG practices they follow. As its whitepaper explains, nodes are assigned weights based on 5 metrics which include their stake, reliability, randomized voting, sustainability score and previous nomination.The firm told Cointelegraph that it will use its sizable capital investment to bankroll an aggressive growth strategy in order to implement its set of use cases and develop services for businesses looking to use 5ireChain-based solutions.Related: ‘People should invest in all of the major layer-1s,’ says a veteran traderThe company claims to employ more than 100 staff and expects to continue to grow rapidly as it scales up its offering in the tech development and venture capital space. 5ire hopes to weather the current slump in the cryptocurrency markets courtesy of its business model being a bridge between blockchain and sustainability. It intends to build use cases with stakeholders from governments, Fortune 500 companies and family offices

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NFT market worth $231B by 2030? Report projects big growth for sector

NFT market worth $231B by 2030? Report projects big growth for sector

Uverejnil používateľ | júl 14, 2022 |

A market report published by Verified Market Research (VMR) provides a lofty prediction for the future of the non-fungible token (NFT) market, projecting its value to swell to $231 billion by 2030.The global research and consulting firm valued the global NFT market at $11.3 billion in 2021 as part of 202 page deep dive into the burgeoning space. VMR predicted that the sector will grow at a compound annual growth rate of 33.7% over the next eight years. A key driver of demand for NFTs is their proliferation across multiple industries and walks of life, including music, films, and sports. The report highlights some key areas of interest and use cases that have helped drive NFT sales.The gaming sector has been a key driver of adoption, with the report highlighting Enjin as one of the first major gaming firms to combine blockchain technology with its infrastructure and launch its own token (ENJ). The ecosystem transformed in-game assets into NFTs to allow gamers to monetize in-game assets.Play-to-earn gaming also tapped into NFT markets, with Axie Infinity offering users in the Philippines an alternative revenue source during the Covid-19 pandemic that has been the subject of much intrigue and inevitable regulatory attention. Related: CryptoPunk sells for $2.6M as big NFT brands floor prices increaseThe world of sport continues to dabble in NFT offerings, with the VMR report highlighting Dapper Labs’ partnership with UFC to launch collectibles. UFC Strike is a similar concept to the widely popular NBA Top Shots, with NFTs of highlights set to digitize and monetize UFC history.In the business world, NFT marketplace OpenSea integrated Adobe service to introduce a number of features to its offering as conventional IT solutions converge with blockchain-based platforms.VMR’s report shared a similar outlook to a report on NFTs released by growth consulting firm SkyQuest Technology in May 2022. The firm projected an analogous growth rate of 34% for the sector between 2022 and 2028, while valuing the market at $15.7 billion in 2021.

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