Autor Cointelegraph By Keira Wright

Kpop NFTs: Binance and YG partnership will prioritize sustainability

A new partnership between global crypto exchange Binance and South Korean entertainment company YG will see the two companies strive for a more sustainable framework for future NFTs collaborations. YG manages a number of notable Kpop stars including BLACKPINK, BIG BANG, and WINNER. The Feb. 8 announcement stated the Memorandum of Understanding (MoU) will reportedly give Binance access to develop digital assets based on the IP (intellectual property) associated with these artists. Although the two companies didn’t provide any specific details for any upcoming NFT collections, they did confirm that creating NFTs in an “eco-friendly way” will be one of the primary concerns of their future collaborations. Global Head of Binance NFT Helen Hai said the platform will be working “closely with YG to create an eco-friendly ecosystem for NFTs.” She added that the company believes “that it is important to promote the use of sustainable blockchain platforms.”YG CEO Bo Kyung Hwang shared the sentiment, adding that the companies hope to “steadily build an innovative and eco-friendly NFT ecosystem.”Binance NFT is a multichain platform that uses the PoSA (Proof of Staked Authority) network, a consensus agreement protocol that is more eco-friendly and energy-efficient than Bitcoin’s. As well as upcoming collaborations in the NFT space, the two companies also mentioned plans to develop Binance Smart Chain-based games and collaborate on building Metaverse projects. An announcement about the MoU stated: “Binance will provide the NFT platform and technology infrastructure while YG will supply NFT content and gaming assets.”Related: Singapore suspends exchange Bitget’s license over K-pop coin promotionThe partnership won’t be the first collision between Kpop and Web3. Most recently, U.S.-based Metaverse concert organizer Animal Concerts partnered with South Korea’s Klaytn blockchain network in January. With a goal of bringing Kpop stars to the Metaverse, Animal Concerts will organize virtual concerts, as well as creating NFTs and merchandise for some of its top recording artists. Meanwhile, in November last year Animoca Brands announced it will partner with Korean record label Cube Entertainment to build a “K-pop metaverse.”

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Crypto exchange FTX.US to give away Bitcoin as part of Super Bowl ad

Cryptocurrency exchange FTX.US will be giving away free Bitcoin as part of its upcoming advertising campaign at the Feb. 13 Super Bowl LVI. However, the amount of Bitcoin given away has yet to be determined because it will depend on what time the ad runs on the East Coast. For example, if the ad runs at 8:50 PM, the Bahamian-based exchange will give away 8.50 BTC ($374,000 at current prices). But if the ad is aired later in the game — at 11 PM for example — the giveaway will increase to 11 BTC (around $484,000 at the moment). The airtime slot for the ad is scheduled in the game’s second half, which is slated to start at 8 PM ET (1:00 AM UTC, Feb 14), an hour and a half after initially kicking off. We’re giving some #bitcoin away!How much? $1 million worth?! $1.5 million worth?!!?! We don’t actually know yet.The later our Big Game ad airs, the more #bitcoin you can win. See you Sunday! #FTXcontestNo purchase necessary. Subject to T&C: https://t.co/L7o8Jz25TT pic.twitter.com/mfA0q2FIFG— FTX – Built By Traders, For Traders (@FTX_Official) February 7, 2022The prize will be split between four people, who will need to open FTX.US accounts to claim their prize, however, you don’t need an account to enter. The winners will be contacted via Twitter direct message. Anyone who follows the company’s Twitter account and retweets the pinned tweet of its commercial between the time the ad airs and 11:59 PM EST is eligible to win. Participants must also be legal residents of the U.S., although New Yorkers are excluded. The upcoming Superbowl ad campaign comes as FTX CEO and Founder Sam Bankman-Fried continues to target sports as the fastest-growing customer base for crypto adoption. FTX first announced its purchase of the Superbowl ad time slot in October 2021, wanting to reach a wider audience. The Superbowl has an estimated TV audience of 92 million viewers. At the time, Bankman-Fried said, “there is no bigger, more mainstream event to share a message like that than the Super Bowl.”Related: FTX launching NFT sports platform, backs LCS esports league with 7-year dealIn June, FTX.US partnered with seven-time Super Bowl champion Tom Brady and his wife, Brazilian supermodel Gisele Bündchen. The exchange also became the official sponsor of Major League Baseball in the same month.In March, it arranged to name the Miami Heat’s home stadium the FTX Arena until 2040, before gifting every spectator in one section of FTX Arena $500 in crypto at the Miami Heat season opener game.

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A quarter of people will spend time in the Metaverse by 2026: Research

By 2026, 25% of people will spend at least one hour a day in the Metaverse for work, shopping, education, social, and entertainment purposes, according to new research.The Feb. 7 report by technology research and consulting company Gartner found that in anticipation of this migration to the Metaverse, brands are already building the infrastructure to allow their users to replicate their lives digitally. According to Gartner Vice President Marty Resnick, brands will need to collaborate in order to unify the Metaverse as their users continue to demand virtual, interactive, three-dimensional experiences. He explained, “from attending virtual classrooms to buying digital land and constructing virtual homes, these activities are currently being conducted in separate environments.”He believes that 30% of the organizations in the world will have products and services in the Metaverse by 2026. “Eventually, they will take place in a single environment – the metaverse – with multiple destinations across technologies and experiences.”This comes after research firm Strategy Analytics found that the global Metaverse market is forecast to hit nearly $42 billion by 2026. However, a November report from Grayscale found that the total valuation might even reach a trillion dollars in the coming years. The rate of active Metaverse users increased 10x between the start of 2020 and June 2021. Either way, Terra Virtua co-founder and CEO Jawad Ashraf said that the research highlights that the Metaverse will change the way in which users interact with virtual environments, predicting that it will become a destination for social occasions, work meetings, gaming events, music concerts, and more. “It may be too early to predict exactly what the metaverse will become, but what we do know is it will open up completely new experiences and enhance our lives.” Related: Blockchain metaverse ecosystems gain traction as brands create digital experiencesPointing out that the adoption of metaverse technologies is nascent and fragmented, Renick urged organizations and investors to proceed with caution. He said, “it is still too early to know which investments will be viable in the long term.”“Product managers should take the time to learn, explore and prepare for a metaverse in order to position themselves competitively.”

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Protesters migrate to crypto fundraising platform following GoFundMe ban

Truckers protesting the COVID-19 vaccine mandate in Canada have turned to Bitcoin-based crowdfunding platform Tallycoin, following a barrage of mounting political pressure from all sides that culminated in GoFundMe axing their “Freedom Convoy Campaign.”GoFundMe pulled the campaign and $9 million in donations on Friday in response to reports of violence, which it claimed broke its terms of service. Initially, donors needed to apply to have their funds refunded. However, following a flurry of criticism, the platform backtracked on Saturday, deciding it would automatically refund donors instead. Shortly after GoFundMe axed the campaign, a group of the organizers moved their efforts to Tallycoin, a crowdfunding platform built on the Bitcoin (BTC) blockchain. “Legacy financial infrastructure can sometimes be politicized and clamped down upon, whereas Bitcoin is a truly censorship resistant method of communicating value,” stated the new fundraising page. As it currently stands at the time of writing, $321,111 had been donated to the Tallycoin fundraiser — only a fraction of the $9 million raised on GoFundMe. It also remains to be seen whether the funds raised on Tallycoin will be subject to the same governmental and political pressure when converted into fiat currency. We have just received a donation of over 2 BTC. Total amount contributed is now ~5.68 BTC or $300,000 CAD. pic.twitter.com/wvCqmaRFPZ— HonkHonk Hodl (@HonkHonkHodl) February 6, 2022Related: Is Ethereum left and Bitcoin right?The Freedom Convoy Campaign initially started in mid-Jan as a fundraiser on GoFundMe for cross-border truckers in Canada protesting vaccine requirements. Since then, it has turned into an all-encompassing rallying point against prescriptive public health measures, including lockdowns and mask requirements. This isn’t the first time governments or big tech has issued mandates on who can or cannot receive money based on politics. GoFundMe also froze $160,000 in funds until organizers of Convoy to Canberra detailed a spending plan on Jan. 31. Shortly before the initial Freedom Convoy Campaign was axed, it had reportedly become the fifth most successful in GoFundMe’s history.

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BuzzFeed backlash after ‘doxxing’ of Bored Ape Yacht Club founders

American Internet media and entertainment company Buzzfeed has revealed the identities of two of the four original Bored Ape Yacht Club (BAYC) NFT collection founders “Gordon Goner” and “Gargamel” as being Greg Solano and Wylie Aronow in real life. Journalist Kate Notopoulos authored the Feb. 4 article, which was entitled “We Found The Real Names Of Bored Ape Yacht Club’s Pseudonymous Founders.” Notopoulos was able to uncover the pair’s identities by search the publicly available records of Yuga Labs, the company behind the collection. Yuga was incorporated in Delaware with an address associated with Greg Solano, and other records pointing to Wylie Aronow. Got doxxed against my will. Oh well.Web2 me vs. Web3 me pic.twitter.com/uLkpsJ5LvN— GordonGoner.eth (@GordonGoner) February 5, 2022The tech reporter argued that “there are reasons why in the traditional business world, the CEO or founder of a company uses their real name and not a pseudonym,” adding that “the people behind BAYC are courting investors and running a business that is potentially worth billions.”“How do you hold them accountable if you don’t know who they are?”Executives of public-traded companies must be named in Securities and Exchange Commission disclosures and reports. As for smaller private companies, banking regulations and “know your customer” laws require executives to use their real names in many cases.“These laws are in part to prevent terrorists, criminals, or sanctioned nations from doing business in the US,” wrote Notopoulos. However, the non-consensual exposure of Aronow and Solano’s identities has raised impassioned criticism from members of the Web3 community, who are describing the article as “doxxing” rather than appropriate journalistic practice. Got doxed so why not. Web2 me vs Web3 me. pic.twitter.com/jfmzo5NtrH— Garga.eth (@CryptoGarga) February 5, 2022

In a Feb. 5 tweet, crypto podcaster “Cobie” called the article “typical Buzzfeed trash,” saying that it was “doxxing people for clicks and ad revenue.” Meanwhile, venture capitalist Mike Solana wrote “there was absolutely no reason to dox these guys,” adding “they’re literally cartoon apes.”Messari founder Ryan Selkis was also clearly unhappy with the story, sharing a 2009 tweet by Notopoulos which used a homophobic slur. As for Notopoulos, she seemed relatively unfazed by the backlash. She posted a screenshot of messages sent by someone threatening to make her personal information public, including her “location, place of work, parents’ home, and siblings’ addresses.”Responding to the threat, she asked the person whether they were a “big strong guy,” to which they replied, “no, I’m a degen.” She replied: “Ah bummer. They have a heavy dresser they need help moving to the garage.”Related: Daniele Sestagalli discusses Wonderland’s future after QuadrigaCX co-founder doxOn Feb. 4 (the same day as the article’s publication), Yuga Labs indicated that the NFT collection was in funding talks with one of Silicon Valley’s top VC firms, A16z, who had valued the collection at $5 billion.Solano and Aronow aren’t the first big names in the crypto space who have been publicly outed this year. On Jan. 27, Cointelegraph published allegations that the true identity of DeFi protocol “Wonderland” co-founder, ‘@0xSifu’, also co-founded the now-defunct Canadian exchange, QuadrigaCX.

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