Značka: GameStop

Nifty News: GameStop NFT market goes live, Hong Kong’s NFT concept and more

The nonfungible token (NFT) marketplace for American video game retailer GameStop has officially gone live on Ethereum (ETH) layer 2 blockchain ImmutableX, all part of the latest Web3 push from the gaming retailer. The pair first partnered in February to build the marketplace offering a $100 million grant for NFT content creators and tech developers before a public beta of the NFT marketplace debuted in July.With the Oct. 31 announcement of the full launch, GameStop’s market will allow for popular Web3 games on ImmutableX such as the role-playing game Illuvium and Gods Unchained to be accessed by users.Gamestop has worked to launch a series of Web3-powered products over the past year with a beta self-custody crypto wallet released in May that integrates with its NFT marketplace. In March the retailer also launched its first beta NFT marketplace on Loopring, an Ethereum-based layer-2 protocol. Most recently in September, GameStop announced a partnership with FTX US aimed at bringing more customers to crypto and working together on e-commerce and online marketing initiatives. Hong Kong’s proof of concept NFTsThe Hong Kong government on Oct. 31 released a policy statement that set out its stance on virtual assets and detailed its related pilot projects, one of which involved NFTs.Its NFT-based project is a proof of concept to promote the usage of NFTs with the government Financial Services and the Treasury Bureau (FSTB) and foreign investment department InvestHK issuing NFTs at their flagship Hong Kong Fintech Week event.The NFT serves as proof of attendance for the conference-goers with the statement saying it’s a “digital badge and memento using blockchain technology in celebration of their participation”.The NFT can also be used to create an Augmented Reality (AR) avatar “to experience the Metaverse” while at the event and holders will receive a discount on tickets for the event in 2023.Although it’s not mentioned what blockchain the NFTs are minted on they can be stored in a crypto wallet, or for those who are without a wallet, can be stored as what the statement calls an “NFT-to-be” with a user storing it on an email address until they create a digital wallet.Hong Kong Fintech Week kicked off on Oct. 31 and sees speakers from a range of Web3 firms including Yat Siu, co-founder of Animoca Brands, Sam Bankman-Fried, co-founder of FTX, and Sebastien Borget, co-founder of The Sandbox metaverse and others.Art Gobblers makes over $20M hours after launchNFT project “Art Gobblers” created by Justin Roiland, the co-creator of the popular animated show Rick and Morty, has seen nearly $20.5 million in ETH volumes just seven hours after launch.The project is a collaboration between Roiland and venture capital firm Paradigm, and describes itself as an “experimental decentralized art factory.” According to Blur data, the project is seeing strong launch success with 12,906 ETH in volume at the time of writing. According to a Paradigm overview, the Art Gobblers ecosystem is intended to work by financially incentivizing artists and collectors in a feedback loop for both to contribute to the project, either with better art, or more money.A diagram explaining the intention of the Art Gobblers ecosystem. Image: ParadigmArtists create a drawing using the websites tool which can then be turned into an NFT provided they have enough native tokens called GOO, these NFTs can then be “eaten” by an Art Gobbler which will store the artwork in its “belly gallery” with the NFT artwork associated to that Gobbler on-chain.The project also enacts other deflationary measures such as restricting the amount of NFTs that can be minted and mechanisms that automatically adjust prices in coordination with an issuance schedule.The initial mint saw 2,000 “Gobblers” minted with the community expected to spend GOO tokens to mint a further 8,000 over the next 10 years.Cardano NFTs hit third place for trading volumeCardano (ADA) NFTs surged in trading volume over the past month placing the blockchain in third place according to an Oct. 27 report by analytics platform DappRadar.The report said in the last 30 days Cardano’s NFT volume reached $191 million bringing it to the third-largest NFT protocol behind Ethereum and Solana (SOL).Related: An introduction to decentralized NFT catalogsThe blockchain’s popular NFT marketplace JPG Store saw a 40% increase in trading volume in the last 30 days also which reached a value of $11.2 million.DappRadar attributes the surge to the blockchain’s Vasil hard fork upgrade that went live on Sep. 22 which brought with it increased efficiency for its smart contracts allowing decentralized applications to deploy and run at lower costs.More Nifty News:American National Basketball League (NBA) athlete Steph Curry filed a trademark application for a so-called “Curryverse” that could see the basketball champion granted exclusive rights for, among other things, “metaversal appearances.”A Japanese city has adopted a metaverse-based school to try to get students to attend classes with students able to explore a virtual campus and classrooms, although the students must gain permission from their real school principals before attending.

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GameStop doubles down on crypto amid a new partnership with FTX US

Gaming retailer GameStop is partnering with United States crypto exchange FTX US to bring more customers to crypto and work together on online marketing initiatives. In a Sept. 7 statement, the gaming retailer noted that the new partnership will introduce GameStop’s customers into the FTX ecosystem, including its marketplaces for digital assets, while also seeing the retailer become FTX’s “preferred retail partner in the United States.”The partnership will also see certain GameStop retail stores carrying FTX gift cards. As of Aug. 31, there are 2,970 GameStop stores across the United States. In its Q2 earnings call, GameStop CEO Matt Furlong said the new deal is aimed at establishing something “unique” in the retail space. The deal we just announced with FTX is a by-product of our commerce and blockchain team, working hand-in-hand together to establish something unique in the retail world.GameStop did not disclose the financial terms of the partnership in its statement. News of the new partnership came on the same day that GameStop released its financial results for the quarter that ended July 30, 2022. Despite GameStop reporting a nearly 4% decline in net sales to $1.14 billion in the quarter, shares in GameStop managed to rise nearly 12% in after-hours trading following the news, reaching $26.84 per share. GameStop has significantly ramped up its Web3 efforts this year after unveiling an NFT and Web3 gaming division in January, as well as the launch of its NFT marketplace on Jul. 11 in partnership with Ethereum (ETH) scaling solution Immutable X.Furlong noted during the earnings call that the launch of its marketplace “supports GameStop’s pursuit of long-term growth in the cryptocurrency, NFT and Web3 gaming verticals” which they expect to be increasingly important for gamers and collectors. The marketplace is a “non-custodial, Ethereum Layer 2-based marketplace” which allows users to connect their own digital asset wallets, like the recently launched GameStop Wallet.Related: GameStop NFT daily fee revenue plunges under $4K as gloom infects marketsGameStop noted that sales attributable to its digital collectibles were $223.2 million in the quarter, representing a nearly 26% increase compared to the $177.2 million worth of sales in the prior year period. According to DappRadar, the marketplace has seen a volume of $21.26 million traded on it since its launch. Activity on the marketplace has slowed dramatically since its launch, with only $922,350 worth of activity occurring on the marketplace within the last seven days.

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Nifty: Major BAYC hodler loses 100 ETH in 'joke' domain sale gone wrong

A Major Bored Ape Yacht Club (BAYC) NFT hodler lost 100 Ether (ETH), worth $150,000 as a result of a joke bid on his own registered Ethereum Name Service (ENS) domain. The NFT whale, who owns 57 BAYC NFTs and goes by @franklinisbored on Twitter, minted the ENS domain “stop-doing-fake-bids-its-honestly-lame-my-guy.eth” using an alternate wallet on July 20. The move was a part of a meme discussed with other NFT collectors in the community in which he was attempting to trigger the EnsBidsBot account to tweet about a hefty 100 ETH bid on an ENS domain, essentially to mock the purpose of such Twitter accounts. What phrase or meme do you want me to have the ens bot tweet out as a .eth address with a 100 WETH bid? Lol I would have to mint the ENS address myself too.— Franklin ️uilding 57 apes (@franklinisbored) July 19, 2022However, after his ENS domain actually got a bid of 1.9 ETH ($2,900), @franklinisbored promptly accepted the bid but forgot to retract the 100 ETH bid he had placed beforehand. Recounting the move on Twitter, he highlighted the ridiculousness of the situation by noting that “this is a mistake that I can’t imagine anyone else putting in the effort to make.” “I was celebrating my joke of a domain sale, sharing the spoils, but in a dream of greed, forgot to cancel my own bid of 100 ETH to buy it back. This will be the joke and bag fumble of the century. I deserve all of the jokes and criticism.”Oh no, I lost 100 ETH. I was celebrating my joke of a domain sale, sharing the spoils, but in a dream of greed, forgot to cancel my own bid of 100 ETH to buy it back. This will be the joke and bag fumble of the century. I deserve all of the jokes and criticism.— Franklin ️uilding 57 apes (@franklinisbored) July 20, 2022

ENS is a blockchain naming protocol that enables users to mint names as ERC-721 tokens that can link to crypto wallets, and has become a handy tool for removing the need to share lengthy automated wallet address ids. Nickelodeon’s successful NFT drop The first plunge into the NFT space from beloved children’s TV show developer Nickelodeon has gone off with a bang, with trading volumes surging after the project sold out all of its 10,000 NFT avatars this week. The drop went live on July 19 and consists of 10,000 NFTs depicting 12 different characters from the Rugrats and Hey Arnold! with randomized and unique traits. The collectibles were sold for $50 a pop, but the floor price on OpenSea has since risen to 0.29 ETH ($440). Over the past 24 hours, Nickelodeon’s NFTs have generated the second largest amount of trading volume out of any project listed on OpenSea at 1,066.05 ETH ($1.6 million). #⃣1⃣ pic.twitter.com/r0w0jfUDQa— nickelodeon_nft (@nickelodeon_nft) July 20, 2022

GameStop NFT surges past Coinbase NFTGameStop’s NFT marketplace launch appears to have been a resounding success, with the platform generating more than double the total amount of sales volume of Coinbase NFT since its launch on July 11. According to data from GameStop NFT’s website and compiled by Cointelegraph, the platform has generated more than $8.6 million worth of NFT sales so far. In comparison, Coinbase’s muchly anticipated NFT marketplace has generated just $3.58 million despite launching in May. Notably, GameStop also charges a 2.25% fee on all NFT sales, while Coinbase is yet to introduce fees to the platform. At the time of writing, two projects on GameStop NFT have generated more than $1 million worth of sales volume in MetaBoy and Cyber Crew [C4] with $2 million and $1.59 million apiece. Former Simpsons animator to launch NFT-based animated seriesFormer animator of iconic cartoon series The Simpsons, Erick Tran has partnered up with blockchain-based Film and TV production firm Mogul Productions to launch an NFT-based animated series inspired by the history of Hollywood. The show will be called The Mogies and it will be accompanied by a collection of 1,923 NFTs, in a nod to the 100th anniversary next year of the Hollywood sign being erected. Each Mogie NFT will depict a parodied version of a famous Hollywood celeb, and holders of the tokens will be granted IP rights to the content depicted in their NFT. Tran and his team at the CHAVVO studio are working on the series, and the story is set to follow the stories of the parodied icons as they make their way through Hollywood. The project will also see the launch of the exclusive Mogieland Metaverse for NFT hodlers, who will gain access to benefits such as virtual red carpet events and behind-the-scenes content. The Mogies: Mogul Productions/Chavvo StudiosRelated: NFT and Islamic education: A new frontier to teach religion?Other Nifty News:On Wednesday, Minecraft’s developer Mojang Studios said that it would be excluding the integration of NFTs, alongside blockchain technology as a whole, in its popular namesake game.The United States Office of Government Ethics (OGE) issued a legal advisory recommending various instances when senior government officials are required to disclose their investments in NFTs.

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Nifty News: GameStop NFT's first day, Limewire trends and game dev attacks!

GameStop’s new NFT marketplace took home roughly $44,500 from transaction fees in the first 24 hours after it launched via a public beta on Monday. GameStop NFT reportedly generated around $1.98 million worth of NFT sales on its first full day of business. As the platform charges a 2.25% fee on NFT sales, this equates to roughly $44,500 worth of fees. While that sum may seem underwhelming, considering it would represent just 0.27% of GameStop’s daily revenue for 2021, it depends on your perspective. According to gaming news outlet Kotaku, GameStop had 4,816 stores across the U.S. at the start of 2021, which on average accounted for $3,426 worth of daily net sales for the company. To provide further contrast, despite much anticipation in the lead-up to its launch in May, Coinbase NFT generated just $75,000 worth of NFT sales on its first day, and took roughly a month to generate $1 million worth of sales volume. Coinbase NFT also offered zero fees to attract new users that month. GameStop NFT, which is based on Ethereum Layer 2 Loopring, is currently home to a long list of new and unknown NFT projects. However, it will soon be home to several projects from Ethereum Layer 2 scaling solution, Immutable X such as Gods Unchained, and Guild of Guardians. The duo partnered back in February to develop NFT games together. At this stage, the MetaBoy NFT project depicting animated GameBoy-like console avatars is the marketplace’s top-selling collection so far, and has generated 989.597 ETH worth of volume, or $1.1 million at current prices. Top 10 selling projects: GameStop NFTWhen game devs attack: ‘Why NFTs are a nightmare’Video game developer Mark Venturelli launched a surprise attack on NFTs during Brazil’s International Games Festival on Friday. The event was sponsored by multiple NFT/blockchain companies such as Lakea and Ripio.Venturelli, known for his work on Chroma Squad was penciled in to provide a virtual presentation on the future of gaming, however after introducing himself he promptly switched gears by launching into a tirade about “why NFTs are a nightmare.”Venturelli’s presentation, which also has an English version, essentially argues that the introduction of speculative economic activity via NFTs will end up ruining the experience for people who just want to play games for fun.During an interview with PC Gamer on July 11, Venturelli said:”What’s actually going to happen is that organized groups are going to operate and scale with ever-diminishing margins, and just push out everybody else. Because that’s what happens. If you play EVE Online or Runescape, or any other game that simulates economy, that’s what happens.” “Organized groups are going to fucking crush you. What actually is going to happen is that if you just naively play a game and have fun—imagine that—then you want to sell your stuff, your stuff is not going to be worth anything,” he added.Tony Hawk drops in… to the MetaverseSkateboarding icon Tony Hawk has partnered up with The Sandbox to build the “biggest skatepark” in the Metaverse. The move was announced on July 13, and early previews show users socializing at Hawk’s skatepark and the ability to build customized courses their avatars can skate around. Specifics are sparse at this stage, but Hawk noted that it will be the “biggest skatepark” to hit the Metaverse. The deal marks another notable mainstream partnership for The Sandbox this week, after Playboy announced that it was launching the MetaMansion on the platform. Coming soon to The Sandbox: alongside @Autograph, I’m helping to create the biggest skatepark in the #metaverse. Stay tuned for updates. pic.twitter.com/0R2ODsR4qt— Tony Hawk (@tonyhawk) July 13, 2022Limewire is back with a bang Limewire, the brand famous for providing file sharing/pirated music between 2000 and 2010, is trending on Twitter this week following its relaunch as a music and entertainment focused NFT platform.Limewire is trending, and no it’s not the Limewire that used to give your computer viruses. The company has now rebranded as a music NFT marketplace. Now that Limewire has released its new promo, the internet has some thoughts (: @limewire) pic.twitter.com/RB4Gp7o2XE— What’s Trending (@WhatsTrending) July 13, 2022

The platform launched on July 7 and has nothing to do with the torrent software apart from purchasing the rights to use the name. It has partnered with iconic musicians from the 2000’s such as Soulja Boy to spread the word. Many people on Twitter have since had fun pointing out the irony of Limewire going from an music pirating platform, to selling NFTs in which their artwork can easily be “stolen” via a right-click and save. Limewire has joined in on the fun however by retweeting such memes.https://t.co/b7jS5TLhY9 pic.twitter.com/ycuZEbddXN— LimeWire (@limewire) July 13, 2022

Related: UK court allows lawsuit to be delivered via NFTOther Nifty News: Blockchain analytics service Nansen published its NFT Indexes Report for the second quarter of 2022, with the data showing June recorded the lowest figure of the calendar year despite buyers remaining consistent. China’s biggest city Shanghai officially intends to boost the development of innovations such as blockchain, NFTs, the Metaverse and Web3 during its next five-year plan.

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GameStop releases public beta NFT marketplace

Gaming giant GameStop (GME) launched its own non-fungible token (NFT) marketplace on July 11. The new NFT marketplace intends to deliver low fees and high speeds. Users of the marketplace can buy, sell, trade, and create NFTs. The marketplace features functionality to enable users to view statistics for NFTs, and educational material is also provided. Educational content includes everything from NFT basics to how to connect a wallet to the marketplace is covered.It’s a non-custodial, Ethereum Layer 2-based application, and users can connect to the marketplace using the GameStop Wallet or other Ethereum (ETH) compatible wallets. Cointelegraph reported in May regarding the GameStop Wallet and plans for the new NFT marketplace.The marketplace displays featured NFTs and NFT creators and collections on the app’s main screen. A deeper analysis of the market is also possible through the Explore interface. There are currently 236 NFT collections in the marketplace.Related: NFT hype evidently dead as daily sales in June 2022 dip to one-year lowsSeveral Web3 games are coming to the marketplace through Immutable X, including Illuvium, Gods Unchained, and Guild of Guardians. GameStop partnered with Immutable X back in February.This is a public beta of the application, and users should expect outages until the full version of the marketplace is released.

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GameStop looks toward NFT marketplace launch after big Q4 loss

Much loved retail video game store chain GameStop (GME) is looking ahead to its long-awaited NFT marketplace and Web3 gaming unit after suffering a net loss of $147.5 million during Q4 2021 GameStop quietly built a barebones NFT website in mid-2021 but has significantly ramped up efforts this year after unveiling an NFT and Web3 gaming division in January along with penning a major partnership with Ethereum (ETH) scaling solution Immutable X the following month to build an NFT marketplace. As part of the Q4 results — ending on January 29 and published on March 17 — GameStop revealed that it intends to launch its NFT marketplace by the end of Q2 2022.$GME will reportedly open their NFT marketplace at the end of their second quarter 2022.SHARE THIS ASAP! #GME #gamestop #stocks #news pic.twitter.com/CW2oDPHul1— carlostrades (@rockstar_stocks) March 17, 2022The firm also highlighted that the Immutable X deal is set to fetch the firm $150 million worth of IMX tokens upon the “achievement of certain milestones,” and noted that it has hired “dozens of additional individuals with experience in areas such as blockchain gaming, e-commerce and technology, product refurbishment and operations.”GameStop’s net loss of $147.5 million is 83% worse than the year prior, while its loss of $1.94 per share sits well outside of Wall Street’s estimates of $0.84 earnings per share. The price of GME appears to have been significantly impacted by the publishing of GameStop’s Q4 financials, with the price dropping 7.31% sit at around $81.29 at the time of writing. GME has, been on a strong downward trend this year despite positive developments in its Web3 initiatives, with the price dropping more than 40% since the start of January. Related: ApeCoin announcement surges BAYC floor price to near-ATH before correctionDiving into the report a bit further, GameStop posted $2.254 billion worth of sales last quarter, a slight increase on the $2.122 billion a year prior. A major hindrance on the latest figure was the $1.87 billion cost of sales, while selling, general and administrative expenses totaled $538.9 million. The firm was able to raise more than $1.67 billion in capital which was enough to eliminate “all of the Company’s long-term debt, other than a $44.6 million low-interest, unsecured term loan associated with the French government’s response to COVID-19.” Despite a bearish trend in the NFT market over the past couple of months, GameStop’s partner Immutable X has gone from strength to strength, the firm announced a $200 million Series C funding round at a $2 billion valuation on March 8, which sent the price of IMX surging roughly 50% within 24 hours to around $1.78. Since then the price has retraced to around $1.54.

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GameStop stock up on rumors of Microsoft NFT game partnership

The stock price of popular video game store chain GameStop (GME) surged roughly 13% in one day amid rumors circulating online regarding a partnership with Microsoft to work on NFT gaming. At the time of writing, GME sits at $115.60 as of market close on Feb. 8 and has also held around that level in after-hours trading according to data from TradingView. GME started February at around the $100 region and has been pumping this month on the back of GameStop’s partnership with NFT focused Layer-2 Ethereum scaling solution Immutable X to develop its upcoming NFT marketplace. As part of the deal, GameStop is also rolling out a $100 million grant program denominated in IMX tokens for NFT content creators and tech developers.The latest rumors circulating via channels such as Reddit and Twitter suggest that GameStop may team up with Microsoft to launch NFT integrations into existing games, along with creating new NFT focused games. Microsoft partnering with GameStop for #NFT and #Metaverse ?? big companies behind the curve will scoop up the existing industry leaders that have been building the space already.— AF (@OmniFurukawa) February 8, 2022Twitter user “P_MackD” shared a photo earlier today that contained compiled screenshots of tweets from Immutable X and Microsoft execs cryptically posting the “probably nothing” meme regarding the major partnership with GameStop. Yorke Rhodes III in particular, the director of Microsoft’s blockchain department tagged Xbox, Microsoft and GameStop in his tweet, potentially hinting that the tech giant may have a role to play in the Immutable X and GameStop partnership behind the scenes. Best graphic I’ve seen about all this nothingness so passing it on. Probably nothing though…#GameStop #gme #Microsoft #must#immutableX #loopring #Apple #lrc pic.twitter.com/9vCZn33O5a— moonape.nft (@P_MackD) February 8, 2022

While it is unclear what the exact connection between the three parties is, a Feb. 6 post on the r/Superstonk Reddit community outlined a notable hypothesis of what the partnership could entail. Commenting on Microsoft’s major $69 billion acquisition of gaming giant Activision Blizzard, bamfcoco1 pointed to the firm’s turn-based player vs player collectible card game Hearthstone as something ripe for NFT integrations via Immutable X and GameStop.Related: 3 things every NFT investor should know to avoid a tax nightmareThe Redditor argued that Hearthstone’s declining user base from a peak of roughly 23.5 million to 3.5 million was partly due to the hefty costs of card collecting and lack of true ownership over the user’s assets, something which could be solved via NFT integrations: “With the ability to freely mint and trade NFTs on Immutable X’s platform, it’s a no brainer. GameStop could launch Hearthstone on their brand new Web3 platform by simply making an NFT for every card and then distributing them accordingly to users’ existing card collections. It’s about as easy as it would get.”It appears that Web3 and NFT related announcements have a strong impact on the price of GameStops shares. Cointelegraph reported in early January that the price of GME gained a whopping 26% in after hours trading after the unveiling of the firm’s new NFT division.

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Gamestop partners with Immutable X for NFT marketplace, announces $100M grant for creators

On Thursday, iconic brick-and-mortar video game retailer GameStop announced a partnership with layer-2 nonfungible tokens, or NFTs, Ethereum (ETH) scaling solution Immutable X to develop GameStop’s upcoming NFT marketplace. GameStop will utilize Immutable’s technology for trading and minting NFTs.We’re thrilled to announce that @Immutable is taking another leap forward in the gaming & blockchain industry by partnering w/ @GameStop to power their NFT Marketplace: https://t.co/Tase31CBt3 Continue for more… pic.twitter.com/8v6Titg3kq— Immutable | $IMX (@Immutable) February 3, 2022Immutable developers claim that the new NFT marketplace will be 100% carbon neutral with no gas fees. In addition, both Immutable and GameStop will launch a $100 million grant program denominated in IMX tokens for NFT content creators and tech developers. Although GameStop will receive the rights to up to $150 million IMX tokens upon accomplishing certain business milestones.At the time of publication, the grant is only available to corporate entities and decentralized autonomous organizations developing video games, Web3, metaverse, IT services and digital brands. The month prior, GameStop entered the NFT space by announcing the hiring of over 20 new staff and teasing two upcoming partnerships with blockchain firms for NFT game development.On social media, users appeared less than pleased with the development, with @LouiePikmin2 writing:”Wow, you guys will really do anything to stay in business, including investing heavily into a fad.”In context, GameStop had dropped over 70% since all-time highs last January, when it was the target of a Reddit-fueled short-squeeze. The decay of its stock momentum has created a community of less-than-happy investors.In addition, users appear to be disgruntled that Loopring, an ETH token project designed for powering decentralized cryptocurrency exchanges, was not included in the announcement despite prior negotiations with GameStop. However, in a Securities and Exchange Commission filing the same day, GameStop disclosed that Loopring is still involved in the NFT marketplace, with the company stating:”GameStop will not integrate any blockchain protocol other than Ethereum Layer 1 and Loopring into their NFT marketplace without first having integrated Immutable.”

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