Autor Cointelegraph By Ornella Hernandez

‘The vision is to create the largest library of world-class IP,’ says Ethernity CEO

‘The vision is to create the largest library of world-class IP,’ says Ethernity CEO

Uverejnil používateľ | feb 10, 2022 |

Ethernity Chain (ERN) is an authenticated and licensed NFT marketplace in the business of acquiring intellectual property, or IP, from big-name brands in sports, history, music and entertainment. Among these notable figures is Shaquille O’Neal, Lionel Messi and brands like DeLorean and Toys R Us. Cointelegraph spoke to Nick Rose, Ethernity Founder and CEO, about the launch of the company’s newest arm, Ethernal Labs, and its goals to become a comprehensive NFT ecosystem studio.Think Disney, NBCUniversal or Sony but for Web3 content creation. That’s the kind of disruption Rose spoke about when he described Ethernal Labs as a multidisciplinary studio and incubator with multiple marketplaces, Metaverse and avatar development and play-to-earn, or P2E, gaming. Rose said:”The long term vision for Ethernal Labs is to create the largest library of world-class IP in the blockchain space and redefine ownership, monetization and engagement for these notable figures and brands,”Ethernal Labs raised $20 million in its seed round with investors including Fanatics’ Michael Rubin, Ex-Google CEO Eric Schmidt, Morning Star Ventures, Algorand, Polygon Studios, and others.Related: NFTs allow people to ‘interact with crypto in a hands-on way’ — ShaqOne vertical or product within the Ethernal Labs ecosystem that Rose was particularly excited about is dubbed Fanable. Considered a social platform, Fanable will enable famous individuals to monetize their fandom and brand through fan token utility. The Messi Token is an example of a possibility. Token owners could be able to interact with their favorite creators, celebrities and athletes through real-time polls and interactive opportunities. Fan tokens would be traded against the native ERN token. The entire Ethernal Labs ecosystem will be organized around the ERN token. According to the company, users will be able to use it to buy and trade digital collectibles, unlockables and augmented reality, or AR, experiences. Two other marketplaces that users can expect is a white-label NFT marketplace and an artist-run marketplace called EyeCandy that will only feature digital art as opposed to collectibles.Rose also noted that because Ethernity NFTs are created in partnership with “top” artists, they are fully verified by individuals and brands, as opposed to fake or counterfeit NFTs. “We coined the term authenticated NFT, or aNFT, to explain the link between the NFT and the notable figure’s brand, which provides long-term value to the holder,” he said.Related: Blockchain metaverse ecosystems gain traction as brands create digital experiencesAdditionally, Cointelegraph chatted with Adrian Baschuk, Ethernity COO, who said that “we’re still in the early days” when it comes to what NFTs and metaverses will be. He suggested that mainstream adoption of NFTs will happen in a linear fashion: “We started with art and collectibles, and next comes gaming, then content.” Baschuk also predicts that AR will overtake some of the current hype around the metaverse, and that the year 2024 will see mass integration of metaverses using NFTs as conduits for investment.Ethernity recently acquired LAND in The Sandbox metaverse and plans to host an NFT gallery, run a fully licensed NFT wearables store, and create games and experiences in collaboration with partner IP.

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Aave launches Web3 social media platform, Lens Protocol

Aave launches Web3 social media platform, Lens Protocol

Uverejnil používateľ | feb 9, 2022 |

Aave (AAVE), the decentralized finance lending platform, launched the Lens Protocol ecosystem on the Polygon (MATIC) blockchain as their way to challenge centralized social media platforms like Twitter or Facebook. What started with an open letter to garner support around the idea that content creators should own and control their digital identities, led to developing a Web3-native social network powered by nonfungible tokens (NFTs).  In a Twitter Spaces conversation the company hosted this week, Stani Kulechov, CEO and founder of Aave, described the mission behind Lens Protocol.”We wanted to build a social media protocol, or essentially a social graph, and make those profiles on-chain, following the relationships on-chain and creating a permissionless way to distribute content between a creator and the audience.”Kulechov and his developer team dug into the problems with current social media platforms. According to one of the developers who goes by @Zer0dots on Twitter, “We’re people. We’re not products. We’re not numbers nor data points.” He’s referring to content on users’ feeds, whether it’s a photo on Instagram or a Tweet, that Meta or Twitter can sell as data to marketers. He described how Lens Protocol wants to make the move away from “users being the products” to giving creators enough ownership to choose how their content is distributed.1/ Something is blooming… https://t.co/UMUs3qT3SD— LensProtocol.eth (@LensProtocol) February 7, 2022Basically, the protocol enables users to create a profile, which is a fully composable NFT. These dynamic NFTs contain the history of all posts, reposts, comments, and other content generated including music, commentary, art, photography and video. A key difference is that profiles are tied to a wallet address, and owners can choose how to monetize their content. A follower can also collect someone else’s publication and receive a tradable follow NFT.”And you can choose who gets to collect them,” said @Zer0dots. “You can choose what logic gets executed. Is there is a fee? Is it a bonding curve that is subscription? Or is it only specific addresses you want? There’s so many different options.”During the Twitter Spaces session, the Aave team also suggested the possibility of turning profiles into a decentralized autonomous organization, or DAO. A follower can opt in to have voting and delegation power over what could be a DAO profile.Related: First cross-chain governance proposal passes on AaveAave likened this new ecosystem to an open-source “developer garden” where they invite the community to “grab fertilizer” and build upon the protocol, anything from social apps and analytics platforms to DAO tooling. The company’s goal is to mirror real-life social interaction that isn’t tied to a platform’s changing algorithms and policies.For now, the Lens Protocol code is available to test on the Polygon Mumbai Testnet. According to Kulechov, Polygon was the chain of choice due transaction speed and cost effectiveness, and since applications can be deployed to any chain because it’s Ethereum Virtual Machine compatible.

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Game review: Olympic Games Jam Beijing 2022

Game review: Olympic Games Jam Beijing 2022

Uverejnil používateľ | feb 9, 2022 |

Olympic Games Jam: Beijing 2022 is the Winter Olympic’s official play-to-earn multiplayer mobile game, created in collaboration between Animoca Brands-owned nWayPlay game studio and the International Olympics Committee. Currently, the app is only available for Android phones on the Google Play store, with no official release date for iOS devices yet. In the Olympian spirit, Cointelegraph played the newly launched game and reviewed the experience.Olympic Games Jam: Beijing 2022 Unveiled! Learn more about the new Play-To-Earn game here: https://t.co/q7dRTFCkmk #NFT #WinterOlympics pic.twitter.com/93rUDpmMj4— Olympics Games Jam (@OlympicGamesJam) February 3, 2022The game flow aims to mimic the real-life Olympics: Players compete in real-time with up to 20 other gamers around the world in winter sports mini-games until the top finisher is champion. The sports are snowboard – slalom, snowboard – slopestyle, freestyle skiing and skeleton. Players have to earn their way through elimination rounds.The game was developed to get fans to earn and buy Olympic NFT digital pins. Although no initial purchase is necessary to play, there are tiers of gameplay and difficulty that require earning a certain amount of tickets, the green icons below, and gems, the purple icons below, to continue playing. According to nWayPlay, Olympic NFT pins generate tickets to be used in matches rewarding gems. A player’s gem balance is connected to a nWayPlay account, and the more gems, the more pins can be acquired to play in more advanced matches. The first step is to customize and name an avatar. Initially there are only four male avatars available to choose from. Outfits, headwear, accessories and gear changes unlock as players advance in the competition. Country/region must also be selected. Related: Nifty News: Olympic Games Beijing 2022 editionThe first elimination round is Snowboard – slalom. There is a brief waiting period while the app looks for a certain number of other players to join in order to start. Competing against bots as well, a player must finish within the top 10 to qualify for the next race. While going down the slopes, players control avatars with just a finger. When snowboarding slalom, the idea is to pass near flags and gain a speed boost. The second round is skiing where players can perform jumps. Then, during slopestyle snowboarding, players can perform tricks off of rails and ramps to score points. In Round 4, skeleton racers must stay within their lane to maximize speed. There are also power-ups that make the player go faster and resist hazards. If you place within the top three, then you can continue to play.Related: US lawmakers issue warnings about digital yuan as Winter Olympics kicks offOverall, it is an enjoyable and entertaining way to pass time and participate in a small way in the Olympics. I question, however, how effective Olympic Games Jam will be in the long run as a blockchain game. Without pins, a player must spend a lot of time on the app to unlock levels o tiers of play. 

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Hashstack launches Open protocol testnet, offering under-collateralized loans

Hashstack launches Open protocol testnet, offering under-collateralized loans

Uverejnil používateľ | feb 7, 2022 |

The DeFi lending and borrowing market has grown significantly in volume as new lending protocols continue to attract capital and NFT-backed loans become more popular. According to Dune Analytics, the top three platforms in terms of market capitalization are Aave, Maker,  and Compound. These platforms, however, still are facing issues when it comes to collateral requirements and volatile digital assets.Hashstack Finance is a DeFi platform whose crypto-native lending protocol, called Open, is trying to provide a solution to collateral requirements, specifically the over-collateralization of loans. Hashstack announced on Monday the release of its closed beta testnet that enables the opposite: autonomous under-collateralized loans. Built on the Harmony blockchain, Hashstack’s Open protocol claims to let borrows take out a loan with an up to 1:3 collateral-to-loan ratio. According to the company, this means a person can borrow up to $300 by providing only $100 as collateral. Of this, he or she can withdraw 70% collateral, or $70 in this case, while utilizing $230 as in-platform trading capital. Hashstack claimed that DeFi lending tends to be over collateralized and, on average, a borrower provides a minimum of 42% excess collateral against the loan they intend to borrow.Vinay, Hashstack Finance founder explained, “Today, if you want to borrow $100 on Compound, or Aave, or even MakerDAO, you are required to provide a collateral of at least $142. This breaks the primary intent behind loan procurement, and has restrictive use-cases for the borrower.”Related: Genesis issues $6M NFT-backed loan to Meta4 CapitalHashstack can be integrated with other DeFi solutions, such as Pancakeswap, to facilitate in-app market swaps and to improve loan utilization, as stated by the company. This mechanism allows borrowers to swap the borrowed tokens into other primary coins or secondary coins without the need to switch the dApp. Open protocol also bridges assets from other chains such as Ethereum and Avalanche C-chain.Hashstack’s Open protocol was one of the many approved proposals from Harmony’s $300 million Ecosystem Fund announced at the end of 2021. 15/ @0xHashstack’s Open protocol is the world’s first autonomous lending framework enabling under-collateralized loans up to 1:3 collateral-to-debt ratio.Website: https://t.co/cLpTbRqJCm#defilending #Fintech pic.twitter.com/QLOiemEu0x— Harmony (@harmonyprotocol) December 5, 2021Related: What is Harmony (ONE) blockchain and why it is getting so much traction?Recently, Li Jiang, chief operating officer at Harmony, told Cointelegraph that he believes that “the future is multichain and cross-chain” and the ability to move assets very easily from one chain to another is the key towards mainstream adoption. 

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Stop listening to celebrities for financial advice, says Binance Super Bowl campaign

Stop listening to celebrities for financial advice, says Binance Super Bowl campaign

Uverejnil používateľ | feb 7, 2022 |

From NFL players accepting their salaries in cryptocurrency and Tom Brady founding his own nonfungible token (NFT) marketplace to the NFL providing Super Bowl attendees with customized NFTs, the National Football League and the blockchain community seem to have embraced each other. As Super Bowl LVI approaches this Sunday, there is one thing fans can be sure to expect: crypto ads. One marketing campaign led by Binance, the largest global exchange by trading volume, warns fans about taking these anticipated crypto commercials to heart, and uses celebrities to make its point. Last week, Binance released its first video featuring Miami Heat forward Jimmy Butler who said that “I can give you advice on a lot of things. Your money isn’t one of them.” He warns viewers that they will be told “to get into crypto” by a lot of people, but should heed that call by doing their own research. The campaign’s slogan is “trust yourself” instead of trusting the celebrities on screen.Trust yourself. 02.13.22 Here’s a message from all-star basketball forward @JimmyButler ⤵️ pic.twitter.com/WS9XCQrlhO— Binance (@binance) February 2, 2022This series of ads are calling upon game spectators to sound Binance’s #CryptoCelebAlert at CryptoCelebAlert.com for every commercial aired during the game with a celebrity talking about crypto. An incentive to do so includes the ability to claim one of 2,222 POAP NFTs featuring Jimmy Butler. The latest celebrity to join the campaign is reggaeton star J Balvin. In his video released Monday, he said, “Don’t ask me” about crypto because he is learning too. He even admits to feeling “dumb” about being looked to for crypto advice. Superstars ≠ crypto experts.Music artist @JBALVIN says “do your own research”.On 2.13 when big names try to give you crypto advice — sound #CryptoCelebAlert and grab 1/2222 NFTs of basketball star @JimmyButler!Learn more ⬇️https://t.co/3rC7r0uJ8M pic.twitter.com/Hml8AN2aEs— Binance (@binance) February 7, 2022

Via a VIP-filled partnership, Binance’s ultimate aim appears to be to direct new users to its own platform, as well as to the educational crypto primer tools on its website. According to the company, the campaign’s next protagonist will be mixed martial arts fighter Valentina Shevchenko.

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