Značka: Partnership

Reddit partners with FTX to enable ETH gas fees for community points

After moving away from Bitcoin (BTC) payments years ago, online forum Reddit now seems to be inching closer to embracing cryptocurrency payments via a new partnership with the FTX exchange.Sam Bankman-Fried’s crypto exchange FTX and Reddit announced in a joint statement on Tuesday that the platform intends to integrate Reddit’s Community Points in the United States, the European Union, Australia and other markets.The partnership features the integration of FTX Pay as a payment and crypto exchange solution to unlock new crypto-enabled perks for Reddit Community Points. Introduced in May 2020, Reddit Community Points are a measure of reputation in communities or subreddits, allowing users to own a piece of their favorite communities.“As a unit of ownership, points capture some of the value of their community. They can be spent on premium features and are used as a measure of reputation in the community,” Reddit said when launching the Community Points two years ago. Reddit Community Points are based on Arbitrum, one of the most Ethereum scaling solutions.With the new integration, users will be able to purchase Ether (ETH) from supported Reddit apps via FTX’s payment and exchange infrastructure platform FTX Pay. The cryptocurrency can be used to pay blockchain gas fees, or network fees for their Community Points transactions on-chain.“We’re always working to empower communities and introduce new ways to use Reddit, and decentralized, self-sustaining blockchain technology allows us to do that. By working with FTX, we’re able to do this at scale,” Reddit staff software engineer Niraj Sheth said. Bankman-Fried noted that the partnership with Reddit marks FTX s commitment to empower online communities to harness the power of blockchain. “FTX Pay’s payment and exchange infrastructure integrates with Reddit Community Points, making the customer experience a more seamless process,” he added.The news comes amid Arbitrum developer Offchain Labs launching the Arbitrum Nova chain on Tuesday. Arbitrum Nova, the second chain launched in the Arbitrum ecosystem, is designed to serve as the premier solution for Web3 gaming and social applications. Apart from Reddit and FTX, other firms like Google Cloud, Consensys, P2P and QuickNode participated in the launch by becoming inaugural members of Nova’s “Data Availability Committee.”Related: Reddit announces new blockchain-backed ‘Collectible Avatars’One of the most popular websites in the United States, Reddit has been largely involved in the crypto and blockchain industry for many years. The discussion platform is known for once allowing users to pay for their premium membership in Bitcoin but removing the opportunity in 2018.Reddit co-founder Alexis Ohanian has been widely involved in crypto, launching a $100 million Web3 investment fund last year. Ohanian subsequently launched another $200 million Web3 and social media fund in collaboration with the Ethereum scaling solution Polygon.

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74% of public agencies feel under-equipped for crypto investigations: Report

A public agency survey conducted by blockchain analytics firm Chainalysis highlights the need for better tools, training and support for cryptocurrency-related investigations. The blockchain data platform delved into the topic in its 2022 State of Cryptocurrency Investigations Survey, with 74% of respondents indicating their agencies were under-equipped to investigate cryptocurrency-related crime.Chainalysis polled some 300 respondents across 183 public sector agencies in the United States and Canada to unpack the challenges and successes working in the sector. An overwhelming number of respondents indicated that cryptocurrencies were relevant to their investigations and that their respective agencies would do well to invest more resources. Despite cryptocurrency being central in some investigations, most respondents agreed that the space could positively advance the financial system and disagreed with the suggestion that cryptocurrencies were used primarily by criminals. Chainalysis noted the growth of legitimate cryptocurrency usage far outweighs the growth of criminal usage. Still, the percentage of illicit usage is significant enough in U.S. dollar terms that the public sector must be prepared to investigate.Respondents also suggested their agencies have investigators or analysts specializing in cryptocurrency-related investigations. The survey also indicated that many agencies do not use specialized blockchain analytical tools, and 74% of respondents believe their agency isn’t well-equipped to investigate cryptocurrency-related crime. Related: DeFi-ing exploits: New Chainalysis tool tracks stolen crypto across multiple chainsChainalysis highlighted this as a major problem given the constantly changing industry, citing the recent shift from centralized services to decentralized finance (DeFi) protocols, which are more complex and difficult to investigate:“If agencies aren’t becoming proficient in cryptocurrency investigations now, their knowledge gaps could compound, causing them to fall further behind the criminals exploiting cryptocurrency regularly.”The survey revealed that over half of the 300 respondents see more than ten cryptocurrency-related cases in a year, while nearly 40% encountered more than 20 incidents. Scams, fraud, drugs, cybercrime and ransomware were the most commonly investigated crypto-related crimes.Chainalysis highlighted the need for trustworthy data powered by robust blockchain analysis tools that allow for simple and valuable data visualizations. Training in cryptocurrency and blockchain analysis was another point raised by respondents, while partnerships with the private sector could deliver these tools and resources.

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Iota Foundation joins Dell to develop real-time carbon footprint tracking

Iota Foundation, a non-profit distributed ledger technology ecosystem provider, partnered with tech giant Dell Technologies to develop a data-driven solution for the real-time tracking of carbon footprints. Edge solutions from Dell Technologies announced the onboarding of Iota, climate-change-focused technology company ClimateCHECK, and BioE, to develop a solution on top of Dell’s in-house initiatives: Data Confidence Fabric (DCF) and Project Alvarium.We’ve partnered w/ @Iota, BioE, & @ClimateCHECK to develop real-time carbon footprint tracking through a #data confidence fabric! Hear how #ProjectAlvarium accurately tracks carbon footprints w/ #DellTech Edge solutions.https://t.co/u5CxmbMBAL@Intel #IOTA #Sustainability pic.twitter.com/52RENnEW3X— Dell Edge & Telecom (@Dell_Edge) June 6, 2022Iota has been an active participant in Project Alvarium, which was first conceptualized by Dell Technologies in 2019 to utilize vetted data from the DFC or “trust fabric” across heterogeneous systems. Matthew Yarger, head of sustainability at the Iota Foundation, stated:“Transparency and trust in data is paramount for addressing the global issues of climate change and transitioning to climate action.”Sharing details about the initiative, Yarger explained that the four companies together developed an integrated digital measurement, reporting and verification (MRV) tool. In conjunction with Project Alvarium, the digital MRV can pick up data from sensors and manual input and process it through Dell PowerEdge servers to ultimately deliver near real-time insights into the carbon footprints of BioE’s sustainable energy and composting facility. Yarger added:“We’re now able to track and verify data around climate change and how we’re actively trying to address it at a level that’s never been achieved before.”Related: Kenyan energy company entices Bitcoin miners with geothermal powerKenGen, an energy company from Kenya recently invited Bitcoin (BTC) miners to run their operations using its renewable power capacity.As Cointelegraph reported, KenGen generates 86% of its energy through renewable geothermal sources. Local reports suggest that KenGen plans to rent out space from its Olkaria facility, situated at a volcanic site. The acting director of geothermal development at KenGen, Peketsa Mwangi, too confirmed the company’s intent to host Bitcoin miners in Kenya:“We’ll have them here because we have the space and the power is near, which helps with stability.”

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F1 Monaco GP: Bybit’s Red Bull Racing NFTs, crypto-F1 partnerships, more

Crypto has taken over the world, and Formula One was no exception to the disruption. From NFTs and fan tokens to multi-year partnerships, the crypto community continues to support the F1 landscape in numerous ways.Monaco Grand Prix 2022 saw F1’s fastest pit crew, Oracle Red Bull Racing (ORBR), partner with crypto exchange Bybit to launch ORBR’s 2022 NFT collection — minted over the Tezos blockchain. The limited-edition NFT collection is made available via an auction, wherein bidders get to collect digital collectibles representing various aspects of Red Bull’s past, present and future.Speaking to Cointelegraph editor-in-chief Kristina Cornèr, Bybit co-founder and CEO Ben Zhou said that F1 has a symbiotic relationship with crypto as the partnerships between the two industry pulls in young investors into the F1 fan base:”Formula 1 is the challenger of the norm, and that really goes well with crypto. […] It’s a really huge synergy we see.”Max Verstappen’s F1 car sporting the Bybit logo. Source: CointelegraphParallelly, Bybit premiered “The Search for the Next Level,” a film starring Red Bull drivers Max Verstappen and Sergio “Checo” Pérez — (spoiler alert) circled around the launch of the new RB18 car. Something big is on its way …Find out more about this next level partnership with @redbullracing!Catch the full film — out now on the Bybit Race Insider Page: https://t.co/wKhQa6uIqQ #TheSearchForTheNextLevel pic.twitter.com/l5aWurtkbL— BYBIT (@Bybit_Official) May 24, 2022Aston Martin F1, too, signed a multi-year partnership deal with crypto exchange Crypto.com for exploring fan engagement and investment initiatives. Crypto.com NFT marketplace continues to be the go-to place for Aston Martin NFT airdrops and limited-edition collectibles.On-track action is about to kick off in Monaco. Don’t miss a moment of the #MonacoGP weekend.#F1 | @cryptocom— Aston Martin Aramco Cognizant F1 Team (@AstonMartinF1) May 27, 2022

This year crypto giant Binance partnered with Alpine F1 Team to issue NFT airdrops and collectibles. Taking fan engagement to the next level, Binance conducted an event on May 20, allowing one fan to experience the life of an Alpine F1 mechanic.Looking forward to spotting #Binance at the #MiamiGP this weekend on the @AlpineF1Team cars. pic.twitter.com/BBEp1HBAYk— CZ Binance (@cz_binance) May 7, 2022

Cointelegraph previously reported on the overall crypto-F1 partnerships as of March 2022. A few prominent collaborations active during the Monaco Grand Prix 2022 are Ferrari and blockchain firm Velas, Mercedes and crypto exchange FTX, and Alfa Romeo and Shiba Inu (SHIB) inspired meme token Floki.Related: Blockchain, crypto set to take sports industry beyond NFT collectiblesA recent study conducted by fintech giant Deloitte concluded uncovered the potential of blockchain and cryptocurrencies to open up new markets and revenue opportunities for the sports industry:“A nexus will form around sports collectibles, ticketing, betting, and gaming. We are just beginning to see its [cryptocurrency’s] potential, as well as the new markets it could lead to.”The study also highlighted the possibility of new markets that allow “fractional ownership of season tickets and suites and a reinvention of the ticket resale process.”

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WEMIX gains 200%+ after stablecoin and boosted staking rewards announcement

Blockchain-based gaming, also known as GameFi, is an up-and-coming sector that could potentially be one of the primary catalysts for kickstarting the mass adoption of blockchain technology.WEMIX, a gaming protocol that operates on the Klaytn network, aims to get in on the GameFi revolution and this week, the project’s native token (WEMIX) rallied even as the wider market continued to sell-off.Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $1.27 on May 12, WEMIX price climbed 269% to hit a daily high at $4.70 on May 25 as its 24-hour trading volume increased to $652 million. WEMIX/USDT 1-day chart. Source: TradingViewThree reasons for the price reversal for WEMIX are the upcoming launch of WEMIX 3.0, a series of project launches and partnership agreements, and the introduction of lockup staking for token holders. WEMIX 3.0The main development attracting attention to WEMIX is the protocol’s planned mainnet launch, which is scheduled to take place on June 15. WEMIX 3.0 will be an Ethereum virtual machine (EVM) compatible public chain that will utilize a stake-based proof-of-authority (SPoA) consensus algorithm. As part of the mainnet launch, WEMIX will also be introducing the WEMIX Dollar (WEMIX) as the native stablecoin of the ecosystem. WEMIX will be a 100% collateralized stablecoin, backed by USD Coin (USDC) and off-chain assets like fiat currencies. New partnerships boost excitementMay has been a busy month for the WEMIX protocol after multiple games launched or announced their upcoming launch dates on the network. New additions include Crypto Ball Z, Four Gods and Every Farm, as well as the onboarding of the SpoLive sports prediction game. Along with protocol launches, WEMIX announced several strategic investments including being the lead investor in the Old Fashion Research (OFR) crypto fund as well as an investment in an U.S.-based augmented reality metaverse startup called Jadu. On May 17, the team behind WEMIX also signed a memorandum of understanding with the Vietnam Blockchain Association. Related: Former Binance executives launch $100 million venture fundIncreased staking rewardsWEMIX also launched Stake360, an incentive that offers WEMIX holders boosted staking rewards for committing to an extended lockup period.#WEMIX #Lockup #Staking 「Stake360」 Notice❓What is #Stake360?- Stake360 is 90 days/180 days/270 days/ 360 days maturity reward staking service.Details of #Maturity #reward, #Heritage system, and Token #Airdrop is provided below : https://t.co/ceeAxW1Z2f pic.twitter.com/u973uVvC6Z— WEMIX (@WemixNetwork) May 19, 2022In addition to the standard 7% staking reward available to all token holders, investors who agree to a 90 to 360 day lockup can earn from 9% to 20.28%.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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Goldman Sachs reportedly eyes FTX alliance with regulatory and public listing assistance

Goldman Sachs is reportedly pursuing an alliance with one of the top cryptocurrency exchanges FTX.The chief executive officer of Goldman Sachs David Solomon reportedly met with Sam Bankman-Fried, the founder of FTX in a closed-door meeting in March to discuss various prospects of working together, reported Financial Times.According to the report, the major points of discussion were around mitigating regulatory compliance in the United States and Goldman Sachs offered to help them, especially with the Commodity Futures Trading Commission. Apart from regulatory assistance, the Wall Street bank also offered to help with future funding rounds.The latest report highlights the growing relationship between traditional Wall Street giants and emerging crypto companies. Goldman Sachs has also shown interest in helping FTX with its public listing. However, people familiar with the matter claimed that Bankman Fried is currently looking for more private fundraising opportunities.Related: FTX crypto exchange wins license in Dubai to open local headquartersFTX has racked up a valuation of $32 billion after three funding rounds ranging in hundreds of millions of dollars. The last funding round came towards the end of January when the crypto firm closed a $400 million funding round, which is also the smallest of the three funding rounds.Goldman Sachs like many other Wall Street giants has come a long way from its early days of Bitcoin bashing and currently looking to take a pie in FTX, one of the biggest crypto market companies at the moment. Goldman Sachs and FTX didn’t respond to requests for comments from Cointelegraph at the time of publishing.The reports of an alliance between one of the biggest wall street banks and one of the largest crypto exchanges come at a time when FTX had filed an application with CFTC requesting to eliminate brokers such as Wall Street banks in the financial markets with its crypto futures products.

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Gulf Energy pursues joint venture with Binance, invests in BNB

Thailand-based Gulf Energy has made strategic investments in cryptocurrency exchange Binance US and signaled its pursuit of a joint venture with the global Binance exchange as part of a targeted effort to gain exposure to the digital asset market. Gulf Energy disclosed in a regulatory filing on April 18 that it invested in “Series Seed Preferred Stock issued by BAM Trading Services Inc.,” which is the operator of Binance US. The investment in Binance US gives Gulf Energy exposure to “one of the fastest user scale-up exchanges in the world” well ahead of the exchange’s planned initial public offering, the company said. Changpeng Zhao, who runs Binance’s global cryptocurrency exchange, confirmed in July 2021 that Binance US was exploring pathways for a public offering. In a separate filing on Monday, Gulf Energy disclosed that it is pursuing a “joint venture” with Binance to operate a cryptocurrency exchange in Thailand. Once the joint venture is established, the newly formed entity will apply for digital asset licenses with the appropriate authorities. Gulf Energy’s filing also disclosed investments in Binance Coin (BNB), which is the native crypto asset of the Binance ecosystem. The collaboration between Gulf Energy and Binance has been in the making for several months now as the cryptocurrency exchange sought to re-establish operations in the Southeast Asian country. In July 2021, Thailand’s securities regulator accused Binance of operating a digital asset business illegally in the country. Binance was the subject of regulatory scrutiny from several other jurisdictions as well, including Japan, the United Kingdom, Germany, the Cayman Islands and the Canadian province of Ontario. Related: Thailand SEC bans crypto payments, seeks disclosure of system failure from exchangesThailand makes another anti-crypto move citing investor protection. https://t.co/yOqhsa0wqR— Cointelegraph (@Cointelegraph) March 23, 2022While nascent, Thailand’s crypto industry is beginning to crystalize as lawmakers seek to provide more regulatory clarity on the asset class. Recently, the Thai Revenue Department scrapped a planned 15% tax on crypto capital gains amid regulatory backlash.

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Crypto.com’s Cronos partners with Chainalysis to track CRC-20 tokens

Cronos has partnered with the blockchain intelligence firm Chainalysis to enable real-time transaction monitoring tools for the Cronos (CRO) token and all CRC-20 tokens running on the Cronos network, according to an announcement shared with Cointelegraph on Wednesday.The new compliance integration aims to enable institutions, cryptocurrency exchanges and digital asset funds to track transactions of CRC-20 tokens, allowing users to trace large volumes of activity and identify high-risk transactions. The partnership specifically allows institutions and exchanges to focus on the most urgent issues and properly report suspicious activity.The integration is yet another milestone in the development and institutional adoption of the Cronos blockchain and digital assets deployed on Cronos. “Application builders and service providers will have access to the most advanced tools and services. The Chainalysis data platform is one of these essential foundations,” Cronos’ managing director Ken Timsit said.As previously reported, Cronos mainnet launched in November 2021, aiming to provide greater interoperability between the Cosmos and Ethereum Virtual Machine (EVM) ecosystems. Designed to support decentralized finance (DeFi), nonfungible tokens (NFT) and GameFi applications, Cronos has amassed more than 450,000 DeFi and NFT users, inking partnerships with about 200 firms and institutions so far.Launched in 2016, Crypto.com is one of the world’s largest cryptocurrency exchanges, with daily trading volumes averaging at $3.3 billion at the time of writing, according to data from CoinGecko.In March 2021, Crypto.com launched its own decentralized open-source blockchain, the Crypto.org Chain, alongside its native token, Crypto.org Coin (CRO). Just about three months after launching Cronos mainnet, Crypto.org rebranded the Crypto.org Coin to the Cronos token in February 2022.Related: Gemini, Chainalysis and 11 others join Crypto Market Integrity CoalitionCronos’ new compliance partner, Chainalysis, is one of the world’s largest crypto and blockchain intelligence firms, known for cooperation with major government agencies and financial institutions in the United States and worldwide.Last month, Chainalysis partnered with the American financial services organization Cross River to ensure safe cryptocurrency trading and compliance amid the institution expanding its crypto services. The firm previously collaborated with platforms like the crypto-friendly trading app Robinhood and provided its compliance tools to the CryptoKitties game creator Dapper Labs.Cronos, the Ethereum-compatible blockchain network backed by the major global cryptocurrency exchange Crypto.com, is moving to ensure compliance with a new partnership.

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UK-based loan provider lets investors tokenize their fund with Securitize partnership

Whitehall Capital, a London-based loan provider, struck a deal with an American digital asset securities marketplace Securitize to enable its investors to hold their units as blockchain tokens.According to an April 11 announcement, Whitehall investors will be able to use buy and sell units in the Whitehall fund via Securitize platform. After registering on Securitize, an investor will see their assets as a number of tokenized units, with the performance markers, investment reports and other valuable information included. They could also trade the units with other investors by posting a bid to buy or sell a certain quantity. According to Anthony Bodenstein, managing partner at Whitehall Capital, the blockchain tokens, backed by loans that are secured by property assets, will deliver an 8-10% income annually:“As there is currently no secondary market for investments in Whitehall Capital, we anticipate investors will quickly take to the benefits of working with this easy-to-use and interactive platform and holding units in this way.”Securitize will be responsible for issuing tokenized shares, delivering them to shareholders and tracking transaction activity on the blockchain. Related: Old but gold: Can digital assets become part of Americans’ retirement plans?In September 2021, Securitize has already partnered with Arca Labs, the innovation arm of digital asset investment firm Arca, to provide a smart contract and issuance platform for the firm, starting with a tokenized fund named the “Arca U.S. Treasury Fund”. Arca Labs claimed it to be the first treasury fund registered under the Investment Company Act of 1940 to issue shares as digital assets via the blockchain.

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UFC to pay out fighter bonuses in Bitcoin for its upcoming PPV events

Ultimate Fighting Championship (UFC), the popular mixed martial arts organization, will be paying out fan bonuses to its fighters in Bitcoin (BTC).The fan bonus will be paid out to the top three fighters of the pay-per-view (PPV) event in association with its official cryptocurrency platform partner, Crypto.com. There will be a total of three Bitcoin fan bonuses of the night ranging from $10,000 to $30,000. Fans from around the globe can vote for the BTC bonuses of the night on the official Crypto.com website on the day of the event.The first Bitcoin fan bonus will be introduced during the upcoming UFC 273: Volkanovski vs The Korean Zombie PPV event scheduled for Saturday. The Bitcoin fan bonus will be an addition to the traditional Fight of the Night and Performance bonuses awarded to UFC athletes.UFC president Dana White lauded the organization’s recent association with Crypto.com, saying:This new Fan Bonus of the Night is an awesome way to get fans more engaged in our events while rewarding the fighters for bad-ass performances.” Related: NFT-funded racing aims to disrupt sports sponsorshipsSports and crypto have shown one of the best synergies over the past couple of years, with several major sporting companies and events partnering with emerging crypto tech. As a global sporting brand, UFC was among the first to integrate crypto-based promotions and even inked a $175-million sponsorship deal with Crypto.com in July last year.UFC fighters, quite similar to United States National Football League stars, have also opted for BTC and crypto paychecks over fiat payouts. The major mixed martial art sports company has also bet big on nonfungible tokens (NFT) as the firm had launched its first official NFT in November last year.Apart from UFC, other major sporting organizations, such as Formula One, National Basketball Association and several professional soccer clubs around the world, have onboarded crypto companies as their major brand partners over the past few years.

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FTX and CoinShares launch physical staked Solana ETP

CoinShares, one of the largest crypto investment firms in Europe, and FTX crypto exchange have united forces to launch a new physically-backed Solana (SOL) exchange-traded product (ETP).The new product, titled CoinShares FTX Physical Staked Solana, is launching with 1 million SOL in seed capital, allowing investors to get 3% in staking rewards, CoinShares officially announced on Wednesday. The new cryptocurrency ETP is the first initiative between FTX and CoinShares.[1/5] We are excited to announce that we’ve partnered with @FTX_Official and our first initiative is to launch a physically staked Solana ETP with SOL1mn seed capital, Staking Rewards of 3.0% p.a, and a reduced management fee of 0.0% p.a. pic.twitter.com/dCq5H2CH1c— CoinShares ‍ (@CoinSharesCo) March 23, 2022The product will be listed on Germany’s major digital market Xetra and is the fourth ETP rolled out by CoinShares in 2022. The firm previously launched the CoinShares Physical Staked Cardano ETP in early March after starting trading the CoinShares Physical Staked Tezos ETP and the CoinShares Physical Staked Polkadot ETP in January. Similarly to previously launched staked ETPs, the new CoinShares FTX Physical Staked Solana has a unique staking mechanism that allows issuers to share staking rewards with investors by reducing the management fee and increasing the coin entitlement of the ETP each day.“Staked coins do not move from the secure custodian where they are stored, and the ETPs remain 100% physically-backed at all times,” CoinShares noted in the announcement.FTX CEO Sam Bankman-Fried noted that the latest ETP launch follows the launch of FTC Access, a new tool combining the expertise behind FTX and FTX US to provide global institutional clients with access to digital asset products, adding:“The goal of FTX Access is to bring institutional-grade services and products to market in a cost-effective manner. CoinShares has a proven track record of providing European investors with innovative and regulated crypto-asset investment vehicles for close to a decade.Related: SEC pushes decisions on WisdomTree’s and One River’s applications for spot Bitcoin ETFsThe news comes shortly after FTX officially announced the expansion in Europe in early March after receiving approval from the Cyprus Securities and Exchange Commission. One of the world’s fastest-growing cryptocurrency companies, FTX in mid-March also won a license in Dubai to open local headquarters and offer crypto derivatives products.

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Cointelegraph partners with Nitro Network to bring digital mining and decentralized internet to the masses

Over the past few years, nonfungible tokens (NFTs) have become a multibillion-dollar industry and have solidified themselves among the most tech savvy. They have opened the portal to infinite possibilities and carved out a new direction for the future of the internet. Enter Nitro Network, which is set to revolutionize the NFT space and take it to new heights. With its groundbreaking Non-Fungible Miners (NFMs), Nitro Network will solidify the decentralized web, all while offering generous rewards to its users.That is why Cointelegraph has partnered up with Nitro Network, to pioneer the future of a decentralized internet through the Non-Fungible Miner. NFMs are a unique innovation — an NFT that provides all users the ability to digitally mine Nitro’s native token, NCash, from anywhere in the world. For the end-user, Nitro has made crypto mining a fully digital experience, one where they don’t need to hold and manage their own physical miners. In addition to enabling users to digitally mine, each NFM currently offered by Nitro comes in the form of a Nitro Bot NFT, which has its own value structure and rarity levels.Nitro is now offering three tiers of “Nitro Bot NFMs,” sold via its website. Each location-based NFM provides a generous reward structure and a unique NFT. For example, Tier 1 NFMs are connected to premium locations such as New York City, London and Dubai. These NFMs yield the highest rewards and come in the form of the rarest Nitro Bot NFTs. Nitro’s digital miners provide additional value as well. Not only do you get your rewards and NFT instantly, but you can also purchase as many miners as you want without having to worry about storage space, hardware shortage, shipping delays, electricity costs or set up! Alongside allowing users to digitally mine and earn massive rewards via an NFM, Nitro enables select users to host a network point called a “Nest.” These Nesters will be the backbone for a new decentralized internet. All Nests will be geographically distributed to maximize coverage and scalability with no overlap. This will ensure there is no competition between hosts, and it allows each user to maximize their rewards. You can apply to be a Nitro Nester and get a miner shipped to you for free.By creating a decentralized internet run by Nitro’s own users, people can possess full knowledge of and control over where their data is and how it’s being used. Moreover, when the network is fully deployed, communities across the globe will be able to interact and engage with smart city technology on the Nitro Network. A new era is upon us!Cointelegraph conceptualized and designed the Nitro Bot NFTs, which double as one’s digital NFM. When engineering the NFMs, Cointelegraph wanted to encapsulate multiple facets of what drives value for NFTs by incorporating utility, a rewards structure, dynamic rarity traits, sensational art aesthetics and an array of unlockables. By joining forces with Nitro, Cointelegraph is becoming an active participant in building the Web3 future that it has been covering and watching evolve for nearly a decade.The best part is that the Nitro NFM presale is happening right now! Those inspired to preorder a miner and reserve their spot in the decentralized internet should head over to Nitro’s website and join its social media channels: Twitter, Instagram, Discord, Telegram, Reddit.

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