Značka: Disney

Disney brings back Bob Iger as CEO: Here's the crypto connection

Metaverse-backer Bob Iger has announced a surprise return to his former role as CEO of Disney, taking over from now-former CEO Bob Chapek.While Iger is most well known for serving 15 years as the CEO of the global entertainment conglomerate, the Disney executive became known in the crypto community after becoming a director, advisor and investor in Genies, a digital avatar platform running on Dapper Labs’ Flow blockchain.“Thrilled to be joining the Genies Board of Directors to help Akash Nigam and company empower humans to create the ‘mobile apps of Web3’: avatar ecosystems,” Iger said at the time.Iger was still at Disney as an executive and board chairman when the company filed for a Metaverse-related patent on Dec. 28.The patent was for a “virtual-world simulator in a real-world venue,” and according to the filing, would allow visitors to Disney theme parks to use mobile phones to generate and project personalized 3D effects onto nearby physical spaces, such as walls and other objects.However, Disney said at the time there were “no current plans” to use the “virtual-world simulator” patent, and the company has yet to announce any products related to the patent.Related: Silicon Valley tech CEOs are not big fans of metaversesAccording to the Hollywood Reporter, Iger’s return will reportedly only be temporary, though, with Iger only agreeing to serve as Disney’s CEO for the next two years. During his new term as CEO, Iger will reportedly work with the Board to set the strategic direction for the company and work to develop a successor.In his absence, Disney has continued to work towards projects involving the metaverse, NFTs and blockchain throughout the year.In September, Disney started hiring for a principal counsel to work on transactions involving NFTs, the Metaverse, blockchain and decentralized finance (DeFi).Specifically seeking someone to provide “full product life cycle legal advice and support for global NFT products” and ensure they comply with all current laws and regulations on United States soil and internationally.

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MATIC price eyes 200% gains on Polygon adoption by Instagram, JPMorgan

Polygon (MATIC) emerged as the best-performing asset among the top-ranking cryptocurrencies on Nov. 3 as the market’s attention turned to the latest Instagram and JPMorgan announcements.Polygon in high-profile partnershipsNotably, Meta, the parent company of Instagram, named Polygon as its initial partner for its upcoming nonfungible token (NFT) tools that allow users to mint, showcase and sell their digital collectibles on and off the social media platform.Meanwhile, banking giant JPMorgan used Polygon to conduct its first live trade (worth about $71,000) on a public blockchain, marking a concrete step toward integrating cryptocurrencies into traditional financial frameworks. MATIC, a utility and staking token within the Polygon blockchain ecosystem, rose over 13% to $0.985 after the announcements, accompanied by an uptick in daily trading volume.MATIC/USD daily price chart. Source: TradingViewMATIC’s upside move came as a part of a broader recovery rally across the crypto sector that started in mid-June. MATIC’s price has rebounded by more than 200%, a trend that will likely sustain in the coming months.MATIC’s price nears cup-and-handle breakoutThe first cue for MATIC’s bullish continuation comes from a classic technical setup.On the daily chart, MATIC has painted a cup-and-handle setup, which comprises a U-shaped recovery followed by a downward drifting channel. The token is now eyeing a decisive breakout above the pattern’s neckline range (the red bar in the chart below) to reach $2.89, its primary upside target.MATIC/USD daily price chart featuring cup-and-handle pattern. Source: TradingViewAs a rule of technical analysis, a cup-and-handle pattern’s target is measured after adding the distance between the cup’s bottom and neckline to the potential breakout point. As a result, MATIC is now eyeing a 200% price rally by the end of Q1 2023.Fundamentally, MATIC’s demand could keep growing, given Polygon’s growing NFT projects launched by mainstream companies. Related: Warren Buffett-backed neobank picks Polygon for Web3 token — MATIC price eyes 100% rallyFor instance, Polygon’s list of prominent NFT partners includes names such as Disney, Robinhood and Starbucks. Furthermore, Polygon had a strong Q3, wherein its number of active wallets reached a record high of 6 million, primarily driven by the launch of Reddit’s NFT marketplace on its blockchain.Polygon NFTs had the strongest Q3 performance in 2022. Source: MessariOn the other hand, macro risks continue to threaten the ongoing crypto market recovery, which may hurt Polygon despite its growing partnerships with big-name brands. That being said, a strong pullback from the cup-and-handle pattern neckline range could invalidate the bullish setup altogether.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Silicon Valley tech CEOs are not big fans of metaverses

During a Wall Street Journal event, Microsoft gaming chief Phil Spencer and Snap CEO Evan Spiegel revealed that they are not big fans of the metaverse in its current form.Spencer called the metaverse’s current iteration a “poorly built video game,” referring to the ecosystem’s bad graphics and low-quality interfaces.[embedded content]The Microsoft gaming chief noted that the gaming world still has an advantage over the metaverse in creating different engaging virtual worlds. At the same time, he compared most of the current metaverse projects to virtual reality room meetings and explained:“Video game creators have an amazing ability to build compelling worlds that we want to go spend time in. […] For me, building a metaverse that looks like a meeting room… I just find that’s not where I want to spend most of my time.”Spiegel, on the other hand, compared the metaverse experience to “living inside a computer” and hinted that the current iterations of the concept are very basic, and he won’t feel like spending time inside it after a long day of work. He added that Snap is more focused on minimizing the hardware and bringing the experience to the real world through augmented reality (AR), taking a swipe at the virtual reality (VR) hardware trend in the metaverse.VR creates an immersive virtual environment, while AR augments a real-world scene. VR requires a headset device, while AR does not. VR users move in a completely fictional world, while AR users are in contact with the real world.Related: Meta’s Web3 hopes face challenge of decentralization and market headwindsApple senior vice president of worldwide marketing Greg Joswiak said that the metaverse is “a word I’ll never use,” reflecting on Apple’s focus on AR over VR. While Disney CEO Bob Chapek said the company tends “not to use” the word metaverse “because, for us, that’s a big, broad term. For us, it’s next-generation storytelling.”Metaverse as a concept became the next big thing in the Web3 ecosystem during the peak of the bull run, with Facebook even rebranding itself to Meta to showcase its focus on becoming a leader in the nascent tech ecosystem. However, Meta’s metaverse bet has proved costly for the Fortune 500 company, as the firm posted a $3.67-billion loss for the third quarter of 2022, stating those losses will further deepen next year.

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Disney seeks corporate lawyer for 'emerging technologies' and NFTs

The Walt Disney Company could be on the verge of expanding into the crypto space after posting a new job for an “experienced corporate attorney” to work on “emerging technologies” such as nonfungible tokens (NFTs) and the Metaverse. According to the Sept. 23 listing on the Disney careers website, the company is hiring for a “Principal Counsel — Corporate Transactions, Emerging Technologies & NFTs” to work on transactions involving NFTs, the Metaverse, blockchain, and decentralized finance (DeFi).Specifically the entertainment conglomerate is seeking someone to provide “full product life cycle legal advice and support for global NFT products” and ensure they comply with all current laws and regulations on U.S. soil and internationally.Other duties include “due diligence for NFT, blockchain, third-party marketplace and cloud provider projects,” as well as providing regular legal advice on cryptocurrency-related matters, and digital currency and guiding Disney’s efforts in relation to emerging technologies. The new role comes as The Walt Disney Company has been slowly positioning itself around the crypto, blockchain, and Metaverse space. During the company’s fourth-quarter earnings call in November 2021, CEO Bob Chapek said the firm was preparing to blend physical and digital assets in the Metaverse. Weeks later the company filed a patent for a “virtual-world simulator” referring to a potential theme-park metaverse. According to the patent application, Disney’s possible foray into the Metaverse could involve visitors to their theme parks using mobile phones to generate and project personalized 3D effects onto nearby physical spaces, such as walls and other objects.At the time it was reported there were “no current plans” to use the”virtual-world simulator” patent, however, the recent job listing could be a sign that this may be changing. Related: Metaverse graphics aim for community and accessibility — Not realismEarlier this year, the company focused on augmented reality (AR), nonfungible tokens (NFTs) and artificial intelligence (AI) in its 2022 Disney Accelerator Program, which selected six “growth-stage” companies to benefit from its business development platform. Companies selected for the program this year included layer-2 scaling platform Polygon, along with two other Web3 projects — Flickplay, a Web3 application that allows users to discover NFTs via augmented reality (AR), and Lockerverse, a Web3 storytelling platform that connects creators and brands.

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Polygon gains 83% in a month, but data show project has been losing traction

Polygon (MATIC) had a promising July, gaining an impressive 83% in 30 days. The smart contract platform uses layer-2 scaling and aims to become an essential Web3 infrastructure solution. However, investors question whether the recovery is sustainable, considering lackluster deposits and active addresses data.MATIC/USD on FTX. Source: TradingViewAccording to Cointelegraph, Polygon rallied after being selected for the Walt Disney Company’s accelerator program to build augmented reality, nonfungible token (NFT) and artificial intelligence solutions.Polygon announced on July 20 plans to implement a zero-knowledge Ethereum Virtual Machine (zkEVM), which bundles multiple transactions before relaying them to the Ethereum (ETH) blockchain. In a recent interview with Cointelegraph, Polygon co-founder Mihailo Bjelic stated this solution would slash Ethereum fees by 90% and boost throughput to 40–50 transactions per second.Another reason for Polygon’s rally was the growing number of platforms that started to offer liquid staking for MATIC tokens, which enabled holders to earn additional rewards. Examples include Lido Finance, Balancer, Meshswap and Ankr Staking, according to DeFi Pulse.Despite currently being 69% below its -time high, Polygon remains a top-12 token by capitalization rank. Moreover, the network holds $1.72 billion worth of deposits locked on smart contracts, known in the industry as total value locked, or TVL.Polygon’s Ethereum-compatible scaling is fully functional, hosting decentralized applications (DApps) that vary from decentralized exchanges (DEXs), collateralized loan services, yield aggregators, NFT marketplaces and games. Polygon smart contracts deposits dropped 42%Despite Polygon’s 83% rally in 30 days, the network’s TVL measured in MATIC tokens dropped by 42% in the same period. As a comparison, Fantom (FTM) scaling solution declined by 14% in 30 days and Klaytn (KLAY) increased by 11%.Polygon Total Value Locked, MATIC. Source: DefiLlamaIn dollar terms, Polygon’s current TVL of $1.42 billion is 67% lower year-to-date. Still, such a number is not distant from Solana’s (SOL) $2.08 billion, or Avalanche’s (AVAX) $2.52 billion, according to DeFi Llama data.To confirm whether Polygon’s TVL decline is caused by fading adoption, one should analyze DApp usage metrics. Nevertheless, some DApps, such as games and NFT marketplaces, do not require large deposits, so the TVL metric is irrelevant in those cases.Polygon DApps 30-day usage metrics. Source: DappRadarAs shown by DappRadar, on August 1, on average, the number of Polygon network addresses interacting with decentralized applications decreased by 19% versus the previous month.Considering Polygon’s TVL has declined by 42%, the network lacks a more substantial user base growth to support further MATIC token price momentum. Still, Quickswap, the leading DApp, presented 138,530 active addresses over the past 30 days. As a comparison, the leading Ethereum application OpenSea held 299,910 users in the same period.The above data suggest that Polygon has lost some of its traction in the market for scaling solutions. However, the project’s recently announced zero-knowledge is yet to be implemented, but its benefits could drive MATIC above $1.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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3 reasons why Polygon (MATIC) is up 100%+ during a bear market

Unlike bull markets where traders can basically throw a dart at a list of coins to pick one that will go up, bear markets require much more effort to find projects that could perform well over the long-run.One project that has continued to show signs of mainstream adoption despite the onset of a crypto winter is Polygon (MATIC), a layer-two scaling solution for the Ethereum (ETH) network that is looking to build a sustainable Web3 infrastructure on the top smart contract platform. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.316 on June 18 during the worst of the crypto market sell-off, MATIC has climbed 118% to $0.70 where the price now sits at a major support and resistance level that first appeared in March 2021. MATIC/USDT 1-day chart. Source: TradingViewThree reasons why the long-term outlook for Polygon remains positive include its continued adoption by mainstream entities, the migration of multiple projects to the Polygon network and an increase in the platforms offering liquid staking services for MATIC. Major adoption announcementsAdoption by influential mainstream companies is one of the best forms of marketing that a blockchain platform can receive as it exposes them to a large pool of potential users. In the past few months, Polygon has established partnerships with Coca-Cola, which released a pride series NFT collection on the network and Reddit, which announced that it was launching an NFT marketplace on the Polygon network on July 7.Most recently, it was announced that Polygon has been selected by Disney to be the only blockchain included in the 2022 Disney Accelerator program, a “business development program designed to accelerate the growth of innovative companies from around the world.” Interrupting the #GreenBlockchainSummit for some breaking news!We’re excited to be the only blockchain chosen to be a part of the Disney Accelerator program. https://t.co/LaGU4bhidi— Polygon – MATIC (@0xPolygon) July 13, 2022Protocols launch on PolygonFurther evidence of the rising popularity of Polygon as a go-to scaling solution for Ethereum has been the steady migration and integration of projects with the L2 network. 48 Projects are landing on @0xPolygon with OnePlanetThanks to all the Ark*One partner projects and @polygonstudios, we are all moving together to rebuild and grow the NFT ecosystem #onPolygon Read the full recap on Ark*One: https://t.co/lxTh6WVRJB pic.twitter.com/hnDtzmSA9S— OnePlanet ˡᵃⁿᵈⁱⁿᵍ ᵒⁿ ᴾᵒˡʸᵍᵒⁿ (@OnePlanet_NFT) July 8, 2022

Aside from the recent NFT projects that have migrated to Polygon, other new additions include the permissionless, credit protocol RociFi, and WOO network’s multi-chain decentralized exchange. MATIC has also seen a growing number of platforms that offer liquid staking for the token which enables holders to earn staking rewards. 2/3 Farming opportunities:@LidoFinance & @BalancerLabs – 12% APY@Stader_Polygon & @Meshswap_Fi – 13% APY@Claystack_HQ – 9% APY@ankrstaking – 9% APY— DeFi Pulse (@defipulse) July 12, 2022

Related: Terra projects band together in migration to Polygon ecosystemTraders expect resistance at $0.75As for what comes next for MATIC price, market analyst and pseudonymous Twitter user Crypto Tony posted the following chart suggesting that the token could head higher toward resistance at the $0.75 level. MATIC/USDT 4-hour chart. Source: TwitterCrypto Tony said, “Looking for a flip of the EQ up to the range high. Would love to see us consolidate a bit longer underneath this area.”This outlook was further reinforced by Trader McGavin, who posted the following chart noting that MATIC is “Filling out the ascending triangle and looks ready to breakout in the coming days.”MATIC/USDT 1-day chart. Source: TwitterTrader McGavin said, “A breakout would open up a move to $0.80 and then $1. Ton of positive catalysts over the last few weeks driving this big move off the lows.”The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Polygon rallies 22% on Disney invitation euphoria — will MATIC price gains swell in July?

Polygon (MATIC) reached lofty price levels this July 14, a day after getting selected for the Walt Disney Company’s benchmark business development program.MATIC’s price surged 22.5% to $0.657 a token, its highest level in a month. In doing so, the token also climbed above its 50-day exponential moving average (50-day EMA; the red wave), a curvy resistance level that had been capping MATIC’s upside attempts since January 2022.MATIC/USD daily price chart. Source: TradingViewPolygon enters the Disney WorldMATIC’s move upside appeared synchronous with similar intraday recovery actions witnessed elsewhere in the crypto market. Nonetheless, Polygon fared better than most of its top-ranking rivals, including the cryptocurrencies Bitcoin (BTC) and Ether (ETH).And at the core of MATIC’s better performance could be the Walt Disney Company.The multinational mass media and entertainment conglomerate announced six companies that would join its 2022 Disney Accelerator to build augmented reality (AR), nonfungible tokens (NFTs), and artificial intelligence (AI) solutions. Polygon made it to Walt Disney’s list, thus becoming the only blockchain platform to have done so ever. As a result, MATIC, Polygon’s native utility and staking token, rallied better than most of its rival digital assets.HUGE for $MATICEvery day feels like another prominent Web 2 platform embracing what’s coming, and Polygon is always involved, especially when it comes to NFTs. Excited to see what they cook up https://t.co/MDNBkivZDd— N03LVentures (@N03LVentures) July 13, 2022Key MATIC R/S flip aheadPolygon now tests a resistance confluence, defined by a support-turned-resistance range of $0.61-0.67 and a Fibonacci retracement line near $0.63, for a potential breakout in July.MATIC/USD three-day price chart. Source: TradingViewA decisive move above the confluence could have MATIC pursue a run-up toward the 0.618 Fib line near $1.11, providing the token also closes above its 50-3D (red) and 200-3D (blue) EMAs. That would mean almost an 80% jump from today’s price level.#MATIC IS READY FOR A +80% PUMP. Bullish Ascending Triangle. $MATIC #CRYPTO #BTC pic.twitter.com/I3g1x98T2u— TAnalyst (@AurelienOhayon) July 14, 2022

Conversely, a pullback from the confluence would risk crashing MATIC toward the $0.29-$0.35 area, similar to how it retraced downward in June.Related: 3 key metrics suggest Bitcoin and the wider crypto market have further to fallMATIC could also erase its recent gains due to higher inflation. Notably, the crypto markets like their traditional finance counterparts have responded negatively to a persistently rising U.S. consumer price index.MATIC/USD and NASDAQ weekly correlation coefficient. Source: TradingViewOn July 13, the latest inflation data reached its four-decade high of 9.1%. As a result, investors anticipate the Federal Reserve would raise benchmark rates by a full percentage point, with Atlanta Fed President Raphael Bostic saying that the option “is in play.”A 1% rate hike in July would risk putting downward pressure on the entire crypto market, including Polygon.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Polygon selected to participate in Disney’s 2022 Accelerator Program

Layer-2 scaling platform Polygon has been selected to partake in Disney’s 2022 Accelerator Program to build on Polygon’s web3 technology, which will commence this week.The Ethereum scaling platform is one of six projects to be accepted into the Accerator Program, which is focused this year on augmented reality (AR), non-fungible tokens (NFTs) and artificial intelligence (AI), according to a statement from The Walt Disney Company on July 13. Polygon CEO Ryan Watt noted on Wednesday that Polygon was “the only blockchain selected” to Disney’s prestigious Accelerator program.The hits keep on comin’!@0xPolygon has been invited to @Disney’s prestigious Accelerator program.We were the only blockchain selected. It speaks volumes to the work being done here, and where we’re going as a company.”It’s kind of fun to do the impossible.” – Walt Disney https://t.co/grpPIFz5Tg pic.twitter.com/2NOedF5pUE— Ryan Wyatt (@Fwiz) July 13, 2022He added that being selected “speaks volumes to the work being done [at Polygon], and where we’re going as a company.” Applications for the accelerator program began on April 22, with applications closed on May 13, 2022. At the time, Disney said the accelerator would be looking to attract “growth-stage companies with a vision for making an impact on the future of technology and entertainment.”Two other Web3 projects were selected this year as well, including Flickplay, a web3 application that allows users to discover non-fungible tokens (NFTs) via augmented reality (AR) and Lockerverse, web3 storytelling platform that connects creators and brands. Other companies include AR company Red 6, 3D virtual ecommerce company Obsess and AI-powered virtual character creation company Inworld. Disney’s accelerator program was first launched in 2014, the program allows participants to receive mentorship from the Disney Accelerator Team and guidance from Disney’s own leadership team itself. Participants will reportedly also be provided with additional investment capital and have access to co-working space at Walt Disney’s Los Angeles campus. The program will conclude with an on-campus Demo Day.Polygon, once known as the Matic Network, is an interoperability-focused blockchain framework with a suite of scalability tools used to build Ethereum compatible decentralized applications (DApps). Polygon’s scalability solutions have been constructed to address the limitations of the Ethereum Mainnet, such as slow transaction speed (TPS) and high transaction fees.Related: Even with Ethereum 2.0 underway, L2 scaling is still key to DeFi’s futureFollowing the news, Polygon’s native token MATIC increased 16% over the last 24 hours.

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ESPN and Tom Brady's Autograph ink multi-year NFT deal

ESPN and Autograph, the nonfungible token (NFT) platform co-founded by Tom Brady, announced a multi-year partnership on Wednesday that kicks off with a documentary release and an NFT collection. A 10-part ESPN+ documentary series called “Man in the Arena: Tom Brady” chronicles the milestones of the NFL legend’s career through a psychological and emotional lens. The docuseries is produced by Religion of Sports, a media company in which Brady is also a co-founder.Autograph and Religion of Sports designed the “Man in the Arena: Tom Brady Collection” to be ESPN’s first series of NFT collectibles. Dropping at the same time on Wednesday, the documentary is available to subscribers across the Disney streaming bundle — ESPN+, Hulu and Disney+ while the NFT collection is available to view on Autograph.io and for sale on DraftKings Marketplace.Just set my alarm. #ManInTheArena @Autograph https://t.co/Sn0RVV9g8B— Tom Brady (@TomBrady) April 6, 2022Related: DraftKings Marketplace plans to launch gamified NFT collection next NFL seasonThe collection consists of three magazine covers from ESPN’s special edition December issue, which included 14 stories that ESPN had written on Tom Brady. Fifty editions of those NFT covers will be signed by Brady. Once the tenth and last episode of the docuseries airs, a second NFT collection called “Back in the Arena” will also drop.Dillon Rosenblatt, co-founder and chief executive officer at Autograph, said in a statement that “As the first NFT partner for ESPN, the possibilities across sports and technology are endless, and we couldn’t be more excited to get this content out to the world in a massive way.”While die-hard Tom Brady fans may be excited about his new show and NFT collection, others expressed their concerns about the partnership on Twitter under ESPN’s tweet. The comments included statements like, “Nobody asked for this, ESPN” and “I still don’t know what an NFT is” to GIFs depicting dislike.  pic.twitter.com/SQVEEBufWa— Sazón Art (@OnSazon) April 6, 2022

Related: Tom Brady tweets he’s ‘a big fan’ of Vitalik ButerinESPN recently launched the ESPN Edge Innovation Center in Collaboration with Disney Media & Entertainment Distribution to pursue technology partnerships such as this one with Autograph. In addition to Web3 experiences, ESPN intends to leverage augmented and virtual reality to interact with sports fans in new and engaging ways, said the company. From sponsorships in F1 to popular NFT trading cards like NBA Top Shot and to crypto companies renaming sports arenas, the sports industry has largely embraced Web3 and NFT initiatives. A recent PwC report even called NFTs “the future of digital assets in sports.” 

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