Značka: Web3

YouTube CEO hints that NFTs could be added to creator platform

YouTube’s CEO, Susan Wojcicki, addressed YouTube’s priorities for 2022 in a letter published Tuesday on the company blog. Among those priorities is the possibility of adding nonfungible token, or NFT, features for the platform’s video creators.there’s *so much* to in 2022: @SusanWojcicki shares the future of YouTube → https://t.co/uL2WIbLwXK pic.twitter.com/JEW8yzqh7e— YouTube (@YouTube) January 25, 2022What this could look like is yet to be determined, however. No additional details were provided in Wojcicki’s statement aside from the claim that the YouTube team will use developments in the Web3 space “as a source of inspiration.”“The past year in the world of crypto, nonfungible tokens (NFTs), and even decentralized autonomous organizations (DAOs) has highlighted a previously unimaginable opportunity to grow the connection between creators and their fans.”As YouTube looks to expand the number of ways that creators can earn money, one option is to “capitalize on emerging technologies.” Currently, there are 10 ways for creators to monetize their business according to Wojcicki, including ads and the newly introduced TikTok-like YouTube Shorts. Could NFTs be next? Related: Meta unveils metaverse AI supercomputer, claims it will be world’s fastestYouTube boasts one of the largest creator communities and is the second most visited site in the world, according to Similarweb. In light of the rise of the Metaverse and other Web3 initiatives by social media platforms like Meta and Twitter, which has recently allowed iOS users to use NFTs as their profile pictures, YouTube looks to compete to retain and attract talent.In her letter, Wojcicki also mentioned their intention to improve the live experience o gaming creators as a priority. Since NFT integration in video games has become the main use case for the adoption of NFTs, this could suggest that gaming creators may be more open to capitalizing on YouTube’s new initiative. 

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$75M Blockchain Founders Fund II backs portfolio of P2E and Web3 projects

Singapore-based Blockchain Founders Fund has launched a new venture capital fund to support emerging projects in the cryptocurrency, metaverse and Web3 sectors, offering further evidence that investors are still keen to back major growth trends in the digital asset market. Blockchain Founders Fund II, also known as BFF II, has raised $75 million from various investors across the blockchain and crypto industry, including NEO Global Capital, Appworks, Baksh Capital, Octava and The Sandbox chief operating officer Sebastien Borget. BFF II has already deployed capital across 11 projects, including a layer-two derivatives exchange, several play-to-earn games and a DeFi protocol. BFF II is focused primarily on crypto, blockchain Web3 and metaverse projects. The fund is also prepared to offer an additional $5 million to successful startups that make it to subsequent funding rounds. BFF partner Mansoor Madhavji told Cointelegraph that “operational experience” is an important consideration when selecting which companies to support. All the companies receiving financial backing “have demonstrated strong product market fit [and] are able to set trends in the crypto space,” he said. Related: a16z, Google lead $20M investment in Africa Web3 game publisher Carry1stDespite a steep selloff in the cryptocurrency sector, which culminated on Monday with Bitcoin (BTC) falling below $34,000, smart money investors increasingly view digital assets as a generational opportunity. As such, they are deploying capital in sectors they believe could reshape the digital economy over the next decade. Real Vision founder and macro investor Raoul Pal has also stuck to his conviction that digital assets are revolutionizing the world around us. On Saturday, Pal told his 878,000 Twitter followers that he hasn’t “touched a thing” with respect to his crypto holdings.haha… no, haven’t touched a thing and I set it up that I dont need to.— Raoul Pal (@RaoulGMI) January 22, 2022Venture funds have shown an enduring commitment to the blockchain sector over the past year despite massive fluctuations in digital asset prices. Through the first ten months of 2021, venture capital had deployed over $17 billion into blockchain- and crypto-focused projects, according to PitchDeck.

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Andreessen Horowitz aims to raise $4.5 billion to invest in crypto funds

A16z, a VC company with investments in Protocol Labs, Polychain Capital and Opensea among others, is now planning to raise $4.5 billion for its latest fund which is focused solely on cryptocurrencies, according to a report by U.K newspaper Financial Times.Last week, Andreessen Horowitz’ venture capital firm reportedly said it would raise $3.5 billion for its VC fund, as well as another $1 billion for web3 seed investments, with the plans to be announced in March. The firm is ready to eclipse the $2.2 billion it raised in June 2021, which was at the time the crypto industry’s largest.The first fund will be used for investment in crypto start-ups and projects that are seeking investment for initiatives, while the second fund will be focused on investing in digital tokens and currencies.Andreessen Horowitz, with almost $30 billion in assets under management, is one of Silicon Valley’s top venture capital companies. The venture fund was one of the first major investors in companies like Skype, Facebook, Twitter, and Coinbase. If a16z is successful in attracting investors to raise $4.5 billion, it would become the industry’s largest, surpassing Paradigm’s $2.5 billion in Nov. 2021.Related: OpenSea raises $300M for encrypted digital marketplaceA16z has backed a number of crypto-friendly gaming platforms, most recently Carry1st, which is the firm’s first investment in a startup on the African continent. In Oct. 2021, a high-powered delegation from the VC firm engaged with members of Congress and administration officials in the U.S to discuss crypto rules.

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Web 3.0 needs more users, not more investors

The wide world of crypto has always been made up of people who know a lot about money. After all, cryptocurrencies themselves are financial products.The paradigm-shifting elevator pitch of Web 3.0 has always been able to pique the interest of investors, and over the last couple of years, we’ve seen an extraordinary amount of money flowing freely into the industry. Those funds have come both in the form of direct investment  —  venture capital (VC) and now decentralized autonomous organizations (DAOs)  and indirect investment — institutional acquisition of cryptocurrencies driving token prices up and bolstering the crypto-based treasuries of Web 3.0 projects. We can expect to see more and more resources piling into the Web 3.0 space as time goes on, but it is becoming increasingly true that it does not have a (monetary) resource shortage. What it does have, is a shortage of products which are usable, appropriate and attractive for a mainstream audience.So far, Web 3.0 and cryptocurrencies are mostly used by the classic early-adopter demographics — younger people and people with high technical proficiency. That can be expected for any technology which is extremely disruptive. In the past, the same thing has been true of social media (Web 2.0) and even computers. When Meta (former Facebook) first started, only college-aged students were invited to use the platform. When the “web” first drew breath, a list of known websites had to be maintained just so people would be able to use it. Sequencing crypto’s DNA: Finance, decentralization, and democratizationAt the moment, most of us are still living and working in a world where the ability to exchange and trade cryptocurrency tokens for fiat value is an essential part of their function. That paradigm may well shift in the future, but for now, most people’s willingness to hold any given token boils down to their belief in its ability to outperform other assets in the digital and other economies — the incentive is financial. Those incentives have caused a whole slew of people who haven’t been regular investors before to flock to cryptocurrency. The relatively low financial barrier for getting into the crypto market combined with the seduction of stories about massive profits and crypto billionaires has spawned an enormous retail investor class in the cryptocurrency game. Those retail investors are often the same people who are bootstrapping user numbers for a lot of Web 3.0 products. In most cases, the products themselves are directly linked to using cryptocurrency as a vehicle for investment and speculation: Uniswap (UNI), OpenSea and Aave (AAVE) are some of the most well-known, popular Web 3.0 products, and they’re all directly connected to acquiring and trading and getting leverage on cryptocurrency assets. Of course, it makes sense that these products have become popular, and their popularity has driven them to become some of the most polished products in the entire space. However, “investors” are always going to be a pretty small subset of the overall population, and so there will also always be a cap on the number of people who are able to find value in something like Uniswap. For Web 3.0 to continue growing—in size, adoption and value—there needs to be additional focus on creating products that the average person can find value in every single day of their lives. As much as it is an incredible innovation, a Web 3.0 which focuses solely on finance will never be ubiquitous technology. Replacing Web 2.0: Imitation versus innovationA lot of Web 3.0 projects are making massive inroads by being “alternatives to Web 2.0 platforms.” Web 3.0 has some clear advantages over Web 2.0, which make them much more appealing to a broad audience. Some applications, like Odysee, offer a more equitable platform for creators and users than alternatives — in this case, YouTube. By removing the costs and overheads associated with intermediaries and middlemen, Odysee is able to offer creators on their platform a much larger cut of profits than competing Web 2.0 platforms like YouTube and Twitch. Like Odysee, the Brave browser is also trying to create a more equitable platform for its users — this time by overhauling the Web 2.0 ad-based revenue model with a more private, transparent and fair alternative.Web 2.0 ads are often intrusive both in terms of being injected into the content we consume online, as well as the privacy-invasive practices used to serve targeted ads. Brave ads don’t appear on web pages at all but in the system notification tray instead. Ads aren’t targeted using enormous databases of your personal information, instead, chosen locally — so your personal info stays private. Not only that, you can completely opt out of Brave ads if you want to. If you do opt in, users are given 70% of whatever the advertiser paid — creating a much more fair, private,  and transparent advertising system. Other apps, like Session messenger, leverage the benefits of decentralization to offer greatly improved privacy compared to centralized messengers. Using its staked service node network, Session is able to offer more privacy and anonymity than any centralized competitor in a completely trustless way. Apps like these are playing an essential part in onboarding mainstream users onto the Web 3.0 future. Session alone has grown 500% in 2021, as users ditch WhatsApp in favor of more private alternatives. Brave is slowly establishing itself as a major browser and currently has over 40 million users. These things all have a few things in common: they’re easy to use, they have obvious advantages regardless of your interest in crypto, and they don’t require any significant financial investment. Why we need users: Improving products, increasing valueIn tech, value is ultimately driven by users. In the end, if nobody is using your technology, what’s the point? If Web 3.0 is going to remain one of the biggest growing industries in the entire world, it needs users. For all of the benefits it offers, creating truly decentralized applications is a lot more complex than their centralized alternatives. More users will help solve this problem, as products with users can mature more quickly. As Session has grown, the additional feedback, reporting and support from its community has enormously helped improve the actual application. I’m sure other projects have found the same thing, as their popularity has increased, everything moves more quickly. The next step for our industry should be to reach that critical mass of users as quickly as we can. Not only will this continue to drive the growth and improvement of the applications themselves, it will also attract new investment into the space — more resources, more growth. The Web 3.0 train is moving more quickly than it ever has before, but we’re still speeding up. If we want the wheels to keep rolling, we should support and encourage projects which will introduce new mainstream audiences to the exciting world of Web 3.0. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Opera announces beta of its new Web3 focused 'Crypto Browser'

Opera, the Norway-based company behind the popular internet browser, has released the beta version of its new Crypto Browser Project. This crypto browser aims to facilitate the user experience of browsing DApps, games and metaverse platforms by offering direct access to Web3 services for Windows, Mac and Android users. The current Opera browser boasts a no-login VPN, and native ad & tracker blocker that help to make it secure. According to a release shared with Cointelegraph, the new crypto browser will maintain these security features, while integrating direct access to decentralized exchanges, NFTs and gaming DApps, as well as Telegram and Twitter support. Jorgen Arnesen, EVP Mobile at Opera, stated that the main goal of the project is to help crypto and Web3 become more mainstream:“Opera’s Crypto Browser Project promises a simpler, faster, more private Web3 experience for users. It simplifies Web3 user experience that is often bewildering for mainstream users. Opera believes Web3 has to be easy to use for the decentralized web to reach its full potential.”A built-in non-custodial wallet will support Ethereum in beta, and thanks to recent partnerships, will soon extend to Polygon, Solana, Nervos, Celo, and naming systems like Unstoppable Domains, Handshake and ENS. Opera’s integration with Polygon (MATIC) is expected to go live in the first quarter of 2022.The wallet supports both fungible ERC-20 standards as well as non-fungible ERC-721 standards, with ERC-1155 coming in Q1 2022. Users will also be able to purchase crypto via a built-in fiat-to-crypto on-ramp, complete crypto-to-crypto swaps and even access a built-in NFT gallery.Related: Ramp expands presence in US with FinCEN regulationAccording to the company, Opera expects to receive feedback from the crypto community on their beta in order to implement any developments “together.” 

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NEAR Protocol raises $150M to promote Web3 adoption

Proof-of-stake blockchain NEAR Protocol has raised $150 million in seed investments to accelerate the adoption of Web3 technologies. The team announced that the fund would be used to develop regional hubs and raise awareness for blockchain and decentralized tech.NEAR Protocol aims to use the fresh funds to foster the adoption of Web3. According to the announcement, the funding will be used to “help billions of people learn and use blockchain.” With this, projects building on the NEAR blockchain will have the opportunity to connect with new audiences.The investment round was led by hedge fund Three-Arrows Capital, with additional participation from Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda, Zee Prime, Folius, Amber Group, 6th Man Ventures and Circle Ventures. MetaWeb.vc, the NEAR ecosystem fund, also participated in the seed round. Additionally, angels Alan Howard, Santiago Santos and Aave Founder Stani Kulechov joined the funding. “We are excited to support the NEAR team and ecosystem as they scale blockchain applications,” said Kyle Davies, the co-founder and chairman of Three-Arrows Capital.Meanwhile, Amos Zhang, the founder of MetaWeb.vc, expressed his support by saying that NEAR Protocol’s technologies are great for fostering blockchain adoption. “NEAR is best suited for empowering blockchain applications for mainstream adoption,” said Zhang.Related: Binance Labs backs $200M Oasis Ecosystem FundBack in 2021, NEAR protocol allotted $800 million for new initiatives to fund the acceleration of decentralized finance, while noting evidence that the DeFi market is still in its early stages. The move aims to encourage developers by adding incentives to build on the NEAR blockchain.Late last year, NEAR also partnered with Cardano-based stablecoin hub, Ardana. The collaboration aims to create a bridge infrastructure that will allow users to transfer assets from the NEAR protocol to its fellow proof-of-stake blockchain Cardano. With this, NEAR (NEAR) tokens will also serve as collateral on the Ardana platform to mint stablecoins.

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Binance Labs backs $200M Oasis Ecosystem Fund

Binance Labs, the venture capital (VC) arm of the Binance cryptocurrency exchange, announced Tuesday that it will contribute to Oasis Foundation’s $200 million ecosystem development fund, sending a strong signal that major investors were still keen to back emerging projects on alternative blockchain networks. With the investment, Binance Labs joins other prominent VC firms in supporting the Oasis Network, an alternative smart contract platform that intends to compete with Ethereum. As Cointelegraph reported in November, Oasis Foundation initially launched a $160 million development fund to lure promising startups to its blockchain. In addition to Binance Labs, other notable VC firms to support the ecosystem development fund include Hashed, Jump Capital, Dragonfly Capital and Draper Dragon.Bill Chin, who heads the Binance Labs fund, touted the Oasis Network’s “scalability and privacy-preserving features,” as well as its ability to advance Web3 development, as reasons for backing the project.Binance Labs has invested in several blockchain projects over the past 12 months. As Cointelegraph reported, in December, the VC firm led a $60 million investment round into cross-chain protocol Multichain. A few weeks later, Binance Labs announced that it had participated in Woo Network’s $12 million Series A funding round. Related: OpenSea raises $300M for encrypted digital marketplaceVenture capital made a huge splash in the blockchain industry in 2021, with investment firms pumping over $17 billion into crypto-focused projects through the first 10 months of the year. The investment flows were steady throughout the year even as Bitcoin (BTC) and the broader cryptocurrency market experienced turbulent price action. Market turbulence has resurfaced at the start of 2022, with Bitcoin briefly falling below $40,000 and the broader crypto markets bleeding heavily. 

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Cointelegraph Consulting: Crypto events of 2021 in retrospect

The year 2021 is coming to a close, and if there’s one way to describe how the cryptocurrency industry fared in the past 12 months, it would be momentous growth. Major cryptocurrencies shattered previous records, adoption grew, new sectors sprouted, and novel blockchain use cases made significant breakthroughs.The Market Insight’s latest edition recalls the events covered in past issues as well as deep-dive topics in Cointelegraph Research’s industry reports.DeFi and AltcoinsTwo of the top gainers of 2021 were Solana (SOL) and Terra (LUNA). SOL gained 9,500%, while LUNA gained 13,000%. Significant investments and ecosystem growth catalyzed the immense gains for the two tokens. One could also argue that the two being billed as potential “Ethereum killers” had a part in contributing to their massive rallies.In the decentralized finance (DeFi) scene, the two tokens sit among the top five in total value locked (TVL). Solana is at number five with $11.45 billion, and LUNA has recently surpassed Binance Coin (BNB) for the number two spot with $18.9 billion, according to Defi Llama. Moreover, the emerging ecosystems of Solana and Terra deserve a deeper look, which is why they are the subject of Cointelegraph Research’s upcoming reports.DeFi followed a similar growth trajectory as the broader crypto market in 2021. Competition has undoubtedly increased for Ethereum. Its TVL share was 97% in January but is currently down to 62.54%, per Defi Llama. The next phase of development for the sector comes into question in 2022, especially since the growth of DeFi this year has been so substantial that authorities have switched from denying the industry to grappling with ways to deal with it. The DeFi market capitalization remains a small fraction of the overall cryptocurrency market cap, but it underwent the same growth trajectory. Some believe that integration with legacy banking could be one of the main focuses for DeFi in 2022. NFTsNonfungible tokens, or NFTs, found their breakout year in 2021 despite existing since 2014. The bulk of sales came in the past 12 months, surpassing $14 billion in December. Digital art collections and digital collectibles dominate 91% of these sales volumes, which is one of the key data revealed in this report. The sales in the first half of the year were driven primarily by individual artists joining the space with their respective collections and some high-profile sales, while the second half brought in more mainstream brands. For instance, Coca-Cola auctioned a wearable bubble jacket skin in Decentraland, and Visa purchased its first NFT. Such participation from these brands enabled the NFT market to come into full bloom. The report also revealed that the most profitable NFT collection in 2021 was “CryptoPunks.” A “CryptoPunk” NFT offers a better all-time average return on investment compared to NFTs on other popular collections, such as “CryptoKitties” and “Bored Ape Yacht Club.”NFTs have also disrupted the gaming industry and become key to fully realizing the concept of metaverses through their blockchain properties. However, some critics doubt that the parabolic surge in 2021 will play out in 2022, especially with more regulatory scrutiny. Nonetheless, this year’s amount of venture capital investments funneled into NFT companies is beyond sizable. NFT funding in 2021 is already at $2.1 billion as of Q3, yet nearly 40% of VC deal activities involve only a single firm in Andreessen Horowitz, according to PitchBook. Therefore, as sales and interest for NFTs continue to grow, it may be difficult for firms with a thirst for high growth potential to resist NFTs.Regulation2021 has been progressive in the cryptocurrency regulatory front. The 117th United States Congress has introduced 35 bills that focus on cryptocurrency regulation, blockchain policy and central bank digital currencies. Federal Reserve Chair Jerome Powell expressed his views about cryptocurrency as not a significant threat to the U.S. financial market’s stability. However, a likely discussion that could seep into next year is the regulation on stablecoins. The President’s Working Group on Financial Markets has stated in a report that stablecoins could be a beneficial alternative payment option but are “subject to appropriate oversight.” Currently, there are no regulations on stablecoins, even as their market capitalization passed $162 billion as of this writing, but a bill proposed by Wyoming Senator Cynthia Lummis could be a step in that direction. Lummis plans to introduce a comprehensive bill in 2022 that will provide regulatory clarity on stablecoins, guide regulators around asset classes, and offer consumer protections. Cryptocurrency regulation will be a talking point in 2022 and will also be a topic that the Cointelegraph Research team will be examining further.GameFiIt is almost certain that everyone in the space agrees that Axie Infinity revolutionized gaming. The play-to-earn model was a massive hit, as it added real income potential to playing video games. Data shows how play-to-earn decentralized applications (DApp) dominated the latter half of 2021 in terms of connected, unique, active wallet addresses. And since September, gaming tokens such as The Sandbox (SAND), Axie Infinity (AXS), Enjin (ENJ), Illuvium (ILV), and Ultra (UOS) have even beat out Bitcoin in gains, as revealed in this newsletter’s previous issue.The gaming sector took the helm from DeFi that saw the most addresses connected in the first seven months of the year. The two DApp categories birthed a new sector, GameFi, which is believed to be the next logical step in blockchain development. Crypto-based games already enable users to have control over their in-game assets via NFTs, but the elements of DeFi could take it to another level. Incorporating DeFi would mean that features such as staking would be available to users where they can earn interest in their tokens.Yet, the sector is still in its early stages, but its appeal lies within its attractiveness to users who may not necessarily be cryptocurrency holders. Attracting such users could further contribute to more cryptocurrency adoption, which will likely be its focal point for GameFi in 2022.AdoptionWith the developments in 2021, cryptocurrencies were able to captivate a much broader audience compared to the year before. In just the second quarter, global adoption has grown 880% since 2020, Chainalysis data shows. And the key events mentioned above are likely contributing factors to cryptocurrencies going more mainstream. The NFT venture capital activities stated earlier represent only 7% of the $30 billion poured into crypto-related investments in 2021.But despite the apparent growth, cryptocurrency ownership remains relatively low. TripleA estimates the global cryptocurrency ownership rate to be at an average of 3.9%. Ukraine, Russia and Venezuela are the top countries with at least 10% of their population owning cryptocurrencies.Despite growing adoption, cryptocurrency ownership remains relatively low worldwide. The low ownership rates imply substantial room for growth, which is why a CAGR of 60.8% from 2021 to 2026 for the cryptocurrency market may have some merit. This year, the value of the cryptocurrency market has already grown from $364.5 billion last year to more than $2.5 trillion — a 586% surge. And in the coming year, the new sectors in GameFi and perhaps assets related to Web3 could possibly be new avenues for continued growth. Tokenization of certain securities could also happen on a much larger scale, and it is even predicted to be the norm by 2030. Furthermore, the prevalence of cryptocurrencies for payments could also be another area with untapped potential, which will be explored further in another upcoming report.Predicting what sectors in 2022 are poised for the same breakthrough that NFTs had this year would be difficult, if not, impossible. However, reports that carefully study and go in-depth about certain topics would offer a better way of understanding the nuances of a specific sector.Cointelegraph’s Market Insights Newsletter shares our knowledge on the fundamentals that move the digital asset market. The newsletter dives into the latest data on social media sentiment, on-chain metrics and derivatives.We also review the industry’s most important news, including mergers and acquisitions, changes in the regulatory landscape, and enterprise blockchain integrations. Sign up now to be the first to receive these insights. All past editions of Market Insights are also available on Cointelegraph.com.

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On heritage and NFT: Challenging the meaning of legacy itself

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century.When trying to examine the nonfungible token (NFT) economy as it has been shaping in recent months, two main trends can be discerned. On the one hand, a completely new market that allows various artists to join a new creator economy — the creators of Bored Ape Yacht Club, various types of pixel art creators and creative flickers such as the creator of long-necked women’s paintings, the sale of which brought the artist, only 12 years old, close to 1,394 Ether (ETH), equal at the time of writing $6 million.But the truth is that an NFT is much more than that. Take, for example, one of the first significant NFT sales, when Jack Dorsey sold the first tweet that appeared on Twitter in exchange for an amount that was then worth about $2.9 million. This NFT gained value, but in fact, its very assimilation as an NFT preserved a kind of heritage.The day Twitter goes down the web, or the outdated text platform disappears, like many sites that were part of the web’s annals and simply disappeared, the only things left will be those for which someone has created economic value, beyond the symbolic value. A unique value, which stands on its own, and which makes the preservation of tradition and heritage a sustainable operation.Garry Kasparov does NFTsGarry Kasparov, the former world chess champion, the man who has held that title for more years than anyone else, has decided to turn his legacy digital, and turn extensive chapters of his past into an NFT.”My NFT venture with 1Kind reflects my lifelong desire to take on new challenges and work with exciting new technologies,” says Kasparov. “From artificial intelligence to cryptocurrencies and the blockchain, I’ve always believed that innovation is the only way forward. We’ve worked together closely from the start to create not just unique items, but a completely new way of using NFTs to tell a story, one with real history behind it. “One of the interesting things about Kasparov is his interest in human-machine interfaces. Kasparov is perhaps the most famous chess player of all time, the youngest to win the world championship as well as the longest-reigning world chess champion of all time. But, in fact, his matches against supercomputers bought him his worldwide fame. Kasparov has repeatedly won state-of-the-art chess computers, but his loss, in 1997, to IBM’s Deep Blue computer marked the watershed and symbolized the fact that artificial intelligence manages to match and even achieve human intelligence. On the symbolic level, it was precisely this loss that linked Kasparov’s fate to the development of the digital age.Related: Without quantum security, our blockchain future is uncertainNow, with the NFT project that Kasparov is launching together with the 1Kind platform, he is once again shaking up basic concepts — of heritage, legacy and history. Kasparov seeks to create a digital presence for various chapters in his past, thus creating a legacy that does not depend on exhibits, display cabinets or history books. The objects, pictures and paintings depicting his past, he drops through NFTs, not to support some creator economy but like that Dorsey tweet, to preserve a legacy before it vanishes, and to bring in more people as interested in preserving that heritage. As Kasparov explains: “This is the first time an entire life will be turned into NFTs — my life. I wanted to share not only my chess games and successes but everything that formed me and my legacy on and off the chessboard.”A new chapter of heritage perseverance To this day, to document a heritage, one needs unique books, museums or tours. But all of this requires massive, long-standing support — after all, a museum cannot own itself and needs the support of taxpayer money or unique funds. But when Kasparov makes his legacy public in the NFT, he is decentralizing the preservation of the heritage. He calls on collectors to take part not only in his legacy but also in its preservation. At the simplest level — if Kasparov himself disappears from human consciousness, even these heritage objects will lose their value. So that the interest of the person taking part in the sale becomes the same as that of Kasparov himself. Preserve the heritage and expose it to as many people as possible.”The deeply personal nature of this project is apparent in every NFT. My family and childhood, my rise as a chess champion and conquest of the world title, and my explorations into politics, education, writing and speaking. Documents and artifacts never before seen by the public include my personal notebooks and family photos. The cast includes the coaches that shaped my chess, my fresh start with a new career and family after chess, and, through it all, my greatest champion from the very beginning, my mother.””Garry, how do you want to be remembered?” I admit I thought about such things even as a young world champion, but back then I only considered my legacy at the chessboard. Decades later, this third drop of NFTs is my answer. https://t.co/dpqqNvnVJD pic.twitter.com/OGtaKMkOex— Garry Kasparov (@Kasparov63) December 16, 2021In practice, this is an interesting experiment. After all, this sale includes not only digital art, or representations of past moments, such as the Moments of the NBA, but also digital representations of real objects such as notebooks, cards, physical photographs from Kasparov’s past and others. That is, the buyer will have digital ownership of objects, which someone else may have physical ownership of. Related: Gen Z and the NFT: Redefining ownership for digital nativesBut in fact, it is possible that in the world we are heading towards, it is not clear who will have the more equal ownership — the one who holds a paper copy of a game card in the safe, or the one who holds the digital representation, which can be displayed to the world without fear of being damaged or gone. Kasparov himself also admits that this is no small challenge, but perhaps this is again his way of breaking down barriers and concepts, in the transition to the Web 3.0 era.”I admit to being a little nervous, like sitting down in my first world championship match, playing against a supercomputer, or when I left behind the familiar world of chess to fight for democracy in Russia and beyond. But what are we without new challenges? Without taking risks? The status quo was never good enough for me, and in that spirit I’m delighted to share this ambitious and unmatched collection. I hope people would enjoy it and I can not wait to see what comes next,” says Kasparov. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.Ariel Shapira is a father, entrepreneur, speaker, cyclist and serves as founder and CEO of Social-Wisdom, a consulting agency working with Israeli startups and helping them to establish connections with international markets.

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Crypto Biz: What's up with Jack? Dec. 16-23

When you’re no longer at the helm of a publicly-traded company, you have more leeway to express controversial views. Former Twitter CEO Jack Dorsey took to social media this week to express his discontent over venture capital’s role in Web 3.0. Some of his Twitter followers agreed with his views, others disagreed and some even blocked him entirely. Below is the concise version of the latest “Crypto Biz” newsletter, which is sent to your inbox every Thursday. For a comprehensive breakdown of business developments over the last week, register for the full newsletter below. “You don’t own Web 3.0,” says DorseyDorsey’s gripe with Web 3.0 — a broad term that refers to a more decentralized and interconnected version of the internet — stems from those who control a commanding stake in these emerging protocols. By owning a large stake in Web 3.0 startups, venture capital funds and limited partners can pressure the founders to comply with centralized regulations that go against the ethos of decentralization. Tesla CEO Elon Musk joined Dorsey on Twitter in mocking Web 3.0 projects.Has anyone seen web3? I can’t find it.— Elon Musk (@elonmusk) December 21, 2021Seven Seven Six and Polygon launch $200M fundReddit co-founder Alexis Ohanian has deployed vast sums of capital via his Seven Seven Six venture firm to back new Web 3.0 and social projects building on Polygon. The fund, which is valued at a whopping $200 million, will focus specifically on gaming applications and social media platforms. The news came more than a month after Ohanian’s VC teamed up with Solana Ventures on a $100 million Web 3.0 growth fund. In other words, 2022 could be the year where “crypto social” takes off. SBI Group launches crypto-asset fund in JapanOne of Tokyo’s biggest financial services companies is making it easier for Japanese investors to access large-cap cryptocurrencies. Earlier this week, SBI Group unveiled its SBI Alternative Fund, which provides exposure to seven digital assets: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), Chainlink (LINK) and Polkadot (DOT). Crypto-curious investors will have until the end of January to file their applications to invest in the fund.Binance Labs leads $60M funding round for MultichainBinance’s venture capital arm, Binance Labs, was one of several big-name investors to back cross-chain protocol Multichain in a $60 million private seed round. Multichain claims that its protocol connects “more public blockchains and crypto assets than anyone else,” which likely explains Binance Labs’ strong interest in the project. Investors can expect to hear more about interoperability in 2022 as the crypto economy continues to mature. 

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Elon Musk thinks Neuralink is better than Metaverse in long term

Tesla and SpaceX CEO Elon Musk showed no support for the Metaverse and Web 3 ecosystem as he dismissed the terms for being used as buzzwords and marketing tactics.”I don’t see someone strapping a friggin’ screen to their face all day,” said Elon Musk, Tesla and SpaceX CEO, in an interview with The Babylon Bee when asked about his thoughts on the Metaverse ecosystem. “I don’t know if I necessarily buy into this metaverse stuff, although people talk to me a lot about it.”Speaking around Metaverse and virtual reality (VR), Musk said that he does not see a future where one would have to leave the physical world to live in a virtual world. Sharing a personal experience, he added that the VR headsets tend to trigger motion sickness while playing video games:“In the long term, a sophisticated Neuralink could put you fully into virtual reality. I think we’re far from disappearing into the metaverse, this sounds just kind of buzzwordy.”Elon Musk founded Neuralink, a neurotechnology company that primarily aims to deploy brain implants on humans for restoring and enhancing physical capabilities through computers. First @Neuralink product will enable someone with paralysis to use a smartphone with their mind faster than someone using thumbs— Elon Musk (@elonmusk) April 9, 2021“I’m currently unable to see a compelling metaverse situation or Web 3 sounds like more marketing than reality. I don’t get it, and maybe I will, but I don’t get it yet.”Musk also highlighted that people will not prefer moving around with VR headsets without wanting to ever leave it. He also recollected being warned growing up about not sitting too close to the TV:“It’s gonna ruin your eyesight, right? And now we’ve got TV literally right here (on the face). I’m like what? Is that good for you?”Related: Crypto is impossible to destroy, says Tesla CEO Elon MuskAdding to his role as the most influential Dogecoin (DOGE) supporter, Musk recently expressed support for crypto, calling it indestructible and fundamentally aimed at reducing the power of a centralized government. As Cointelegraph reported, Musk said at Code Conference in California:“It is not possible to destroy crypto, but it is possible for governments to slow down its advancement.”He also suggested that the United States government should “do nothing” when asked about his views on crypto regulations.

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