Autor Cointelegraph By Zhiyuan Sun

Crypto community rallies with Ukraine as local NFT artists' works sell out

Crypto community rallies with Ukraine as local NFT artists' works sell out

Uverejnil používateľ | feb 25, 2022 |

It appears that crypto enthusiasts worldwide are rallying in support of Ukraine to resist an ongoing full-scale Russian invasion. According to reports, Bitcoin (BTC) donations to Come Back Alive, a non-governmental organization helping Ukraine’s military efforts, received $3 million in BTC in a single donation on Friday. Users also took to social media to ask the country’s Ministry of Defense to accept crypto donations, such as Tether (USDT). At the same time, the founder of Ukraine’s Kuna exchange created a crypto fund to assist charities in the country. Everyone! Thank you for all the support and donations! The current plan is separated into 3 parts to involve as many as possible1) direct donations (aimed at individuals)2) NFT Auction (via telegram & Opensea) 3) Project % pledge (aiming at collections and projects)(1/4) https://t.co/eo4Vgyz95a— dan//l pan (@pan_danil) February 25, 2022On Friday, the outpouring of support gained further traction. Nonfungible token (NFT) artist “pan_danil” began organizing a campaign to direct donations, launch NFT auctions and pledge a percentage of project sales to NFT artists in Ukraine. At the time of publication, a group of volunteers had formed to curate a community list of Ukrainian NFT artists and links to their artwork on NFT platforms such as Rarible, Foundation and OpenSea.I need a trackable list of Ukranian artists to support. Tweets/Lists not working…I spend time just wading through replies than helping.If a few people can volunteer their time to add links for Ukranian artists to this Sheet it would be great. DM me.https://t.co/APeZEEGGjd— Nik Kalyani (@techbubble) February 24, 2022

Related: Ukraine Bitcoin exchange volume spikes 200% as Russia war sparks currency concernsMeanwhile, other Ukrainian artists, such as “voplividchau,” have reported their NFT drops selling out due to community support. But despite the successful sale, she wrote: It’s very scary in Kiev [Kyiv] now; it was scary at night, and what will happen next is so scary. I admire how brave people are here.SOLD OUT Friends! I am eternally grateful for your support! Now it means HUGE!@Ac3033 @Art_via_lens @muradon13 @unblockgallery @ALCrego_ @SashaBAM @pleshkova_art @hen_collector @berni_omar @BayBackner @HowdyDooNFT @PapaBeardedNFTs https://t.co/B09E9itngB— Chernaya Rechka (@voplividchau) February 24, 2022

NFT platform Orica, which launched an NFT campaign to help build a school in Uganda last year and coordinated an NFT charity drop to help victims of human trafficking, voiced its support for Ukraine’s NFT artists on Twitter. It also appears the platform is directly onboarding Ukrainian NFT artists for upcoming exhibitions. Support Ukraine’s NFT artists:@voplividchau@AnaStardust_art@Avlevytska @cadaversky @PashaYouz@spasi___sohrani’A Girl With A Butterfly’ by @voplividchau pic.twitter.com/0oIuMACqAl— Orica (@orica_io) February 24, 2022

Related: Twitter users ask Ukrainian armed forces to start accepting crypto donationsUkraine’s Ministry of Defense claims that Russian troops have suffered approximately 800 losses in personnel since the beginning of the invasion on Thursday. In addition, the entity says Russia failed to achieve its military objectives on the first day of the attacks. At the time of publication, there is an ongoing battle between both sides in Kyiv. Ukraine’s economy was only about a tenth of the size of Russia’s before the fighting began, and has likely fallen further due to the invasion.❗️A Ukrainian throws himself in front of Russian equipment to stop the occupiersAll of #Ukraine is defending its country from the occupiers. The ground forces of the Ukrainian Armed Forces report that the #Russian military has suffered more than a thousand casualties today. pic.twitter.com/Vg09n5G2rC— NEXTA (@nexta_tv) February 25, 2022

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USDT premiums soar on Ukraine's Kuna exchange

USDT premiums soar on Ukraine's Kuna exchange

Uverejnil používateľ | feb 24, 2022 |

Against the backdrop of an ongoing Russian invasion, the price of Tether’s USDT stablecoin soared to as high as 36.97 Ukrainian hryvnia (UAH) ($1.23) on Ukraine’s Kuna exchange on Thursday. The total trading volume of all cryptos on the exchange amounted to about $4.4 million in the past 24 hours.During the same period, mid-market rates from foreign exchange data provider XE indicated that the UAH currency had only surged to a maximum of 29.89 per U.S. dollar. In other words, the conversion rate for USDT was much higher than typical UAH/U.S. dollar transactions. USDT has a theoretical peg of one-to-one with the U.S. dollar. At the time of publication, the UAH/USDT trading pair is valued at 31.89 on Kuna, compared to the UAH/USD exchange rate of 29.80. That indicates an implied premium of 6.55% for USDT. In context, USDT is currently trading at its theoretical peg on other centralized exchanges, such as Binance’s global platform. However, data from Binance Ukraine suggests its USDT listing is trading at a premium of greater than 7% against the Ukrainian hryvnia.Earlier on Thursday, the National Bank of Ukraine announced that it had fixed the foreign exchange rate of the UAH, limited cash withdrawals at banks, and suspended the issuance of electronic money (fiat currencies in digital form). When a nation sets the exchange rate of its currency, a black market quickly develops where consumers transact foreign currencies based on rates that reflect actual economic conditions.NEW: Over $360k in #bitcoin has been donated to the Ukraine army in just one day — Bitcoin Magazine (@BitcoinMagazine) February 24, 2022Related: Twitter users ask Ukrainian armed forces to start accepting crypto donationsIn a video posted on Thursday, Kuna founder Michael Chobanian, who also serves as president of the Blockchain Association of Ukraine, said the exchange is operating normally and banks are still functional despite interruptions. Chobanian described his country as being in a state of “full-time war” and launched a cryptocurrency fund to help charities aiding the Ukrainian Armed Forces and government in their resistance against the Russian invasion. “Let’s hope for peace, but if you want peace, you have to prepare for the war,” Chobanian said.

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Monster Energy files NFT and metaverse trademark applications

Monster Energy files NFT and metaverse trademark applications

Uverejnil používateľ | feb 24, 2022 |

According to recent filings with the United States Patent and Trademark Office (USPTO), Monster Energy has four pending trademark applications related to the nonfungible tokens (NFTs) and metaverse realms. The first trademark application consists of downloadable virtual goods comprised of, but not limited to, beverages, food, supplements, sports, gaming, music, and apparel. According to the filing, such downloadable multimedia assets will be “authenticated by NFTs.” Also included in the application are computer programs facilitating blockchain data interactions. The second filing consists of retail store and online retail store services authenticated by NFTs, as well as an “online marketplace for buyers and sellers of virtual goods.” Similarly, the third filing involves entertainment services related to such virtual apparel. Finally, the fourth filing consists of providing an online software to facilitate the transmission of digital assets among users powered by blockchain technology. Based on data provided by the USPTO, it can take up to 7.4 months for the agency to process first-time trademark applications.There appears to be a surge in companies entering the NFT and metaverse spaces with intellectual property applications this year. Earlier this month, the New York Stock Exchange filed a trademark application for trading NFTs. At roughly the same time, McDonald’s filed trademarks for “McMetaverse” restaurants, which also includes its iconic McCafe brand. Related: Chinese companies embark on a metaverse trademark raceLast month, Meta (formerly Facebook) submitted applications for registering Bitcoin (BTC) and crypto service trademarks in Brazil. The same month, Walmart, too, submitted seven patent filings connected to its plans to create its own digital currency and NFT collection.

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Twitter users ask Ukrainian armed forces to start accepting crypto donations

Twitter users ask Ukrainian armed forces to start accepting crypto donations

Uverejnil používateľ | feb 24, 2022 |

On Thursday, Russia launched a full-scale invasion of Ukraine on multiple fronts, prompting a swift response from the Ukrainian government as it mobilized troops, armed civilians and called upon world leaders to come to its aid. The same day, the Ministry of Defense of Ukraine began accepting donations for its armed forces by setting up a designated bank account for foreign currency wire transfers. The Ukrainian army cited “numerous requests from individuals and legal entities who are not residents of Ukraine and wish to make donations.” It appears one particular part of the memo caught the attention of social media users:”National legislation does not allow the Ministry of Defense of Ukraine to use other payment systems (“Webmoney,” “Bitcoin,” “PayPal,” etc.)”Crypto enthusiasts quickly took to the Ukrainian government’s Twitter account, where the link was posted, to ask for the acceptance of digital currency donations. For example, user TechLeakers wrote: “Get a Bitcoin cryptocurrency address. So it will be accepted globally.” However, some also voiced their concern over the potential of the Ukrainian Armed Forces accepting crypto donations, with MMusikwolf writing:Do not donate crypto. The value fluctuates too much for it to be useful in this sense. [Fiat] Money has the highest liquidity of any asset and thus can be used fastest.But others, such as BiggieWhale, quickly pointed out that stablecoin digital currencies such as USDT are pegged to the U.S. dollar and therefore, theoretically, do not suffer the same degree of price volatility. At least one Ukrainian non-government organization, Come Back Alive, currently accepts BTC donations, with the proceeds going to the Ukrainian Army.crypto donations could be helpful: its really easy, fast, cheap and securealso consider this method— timo (@tymo_tt) February 24, 2022Due to Russia’s military advance, global assets and foreign exchange prices, including the value of Bitcoin (BTC) and the Ukrainian Hryvnia, are currently experiencing steep selloffs. FTX CEO Sam Bankman-Fried commented on the issue of currency destabilization in Eastern Europe due to the invasion. In a lengthy Twitter thread, Bankman-Fried wrote: “If you were in Ukraine right now, where would you trust your money?” He also said: “And more importantly, there might be war. That’s really bad for the world. Fuck all this price stuff. Go outside and do something nice for someone.”According to the Ukrainian government, 40 people have been killed in the first hours of the Russian invasion, with several dozens wounded. In addition to targeting Ukrainian military installations, there have been reports of Russian missiles hitting critical infrastructure, such as airports and civilian establishments.Footage of the airport bombing in Ivano-Frankivsk. #Ukraine #Russia pic.twitter.com/MLVuNyPItI— Ω (@W4RW4ATCHER) February 24, 2022

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TreasureDAO engineer alleged to have past involvement in questionable NFT projects

TreasureDAO engineer alleged to have past involvement in questionable NFT projects

Uverejnil používateľ | feb 23, 2022 |

On Wednesday, decentralized finance (DeFi) detective Zachxbt published a long thread on Twitter about TreasureDAO’s front-end engineer Just Cheese, or JC, and his alleged past involvement in several nonfungible token (NFT) projects. According to its white paper, TreasureDAO is a “decentralized NFT ecosystem on Arbitrum that is built specifically for metaverse projects.” Listed projects use the ecosystem’s native token, MAGIC, for transactions, with TreasureDAO governing the emission of MAGIC. As told by Zachxbt, the story began when JC shared his wallet address in the TreasureDAO Discord last November. The DeFi detective then claimed to have backtraced a key series of inflows, totaling 134.66 Ether (ETH), into JC’s wallet to several NFT/token projects, including but not limited to Mutant Cats, ZombieToadz and Yuta/YYYY — all projects that Zachxbt says went quiet after launch.In an official announcement in the TreasureDAO Discord, the project team offered the following explanation:“From what we understand, Cheese did some UI/FE work for a few projects created by these bad actors on a contract basis while breaking into web3, but they abandoned the projects long after he’d already delivered and had been paid for his work. The DAO cannot comment on the details of the work as it was outside of Treasure.”The team went on to say:“We can comment on his [JC’s] efforts while at Treasure, which has been amazing, contributing to all the UI/FE for TreasureDAO sites and products to date.”Zachxbt is known in the blockchain community for his forensic methods in investigating the past conduct of blockchain developers. Last month, the DeFi detective alleged that Michael Patryn, co-founder of defunct Canadian crypto exchange QuadrigaCX, was running DeFi project Wonderland’s treasury as its anonymous chief financial officer. Users’ opinions on the matter remain divided on social media, with Cryptopantone, TreasureDAO’s “evangelist” and moderator, tweeting:Summary: JC worked as developer for other projects before, got paid for it, those projects failed, then joined Treasure and helped building one of the most interesting projects in the space run? Ok ty; let’s move on. Maybe you can draw a diagram of all Treasure related projects?— fritten.eth (,) (@cryptopantone) February 23, 2022Meanwhile, Josh11#3105, a member of TreasureDAO’s official Discord, attempted to highlight the importance of accountability for the project, writing:“Seriously, but can we use DAO funds to pay Zach [Zachxbt] to do an internal background check on all team members’ wallets so we can deal with everything in-house and get all the bullshit done and dusted at once so we can move forward?”

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