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Crypto and the regulatory framework
The SEC's rumoured move to ban staking for retail customers has raised concerns in the crypto community. Staking, an essential innovation in cryptocurrency, enables everyday individuals to participate in running decentralized crypto networks and offers other benefits to the system. If the ban is implemented, it could be detrimental to US citizens seeking to secure a place in the growing global crypto economy. The irony is that the SEC failed to take action against FTX, a potential RICO case, but is now trying to protect retail customers from profits. The situation has caused some to consider running for office.
The NFT craze is causing an increase in Bitcoin blockchain size, presenting both risks and opportunities for investors.
The Ordinals protocol, a new and controversial addition to Bitcoin, has made it possible for non-fungible tokens (NFTs) to be attached to Bitcoin transactions, effectively bringing NFTs to the world's largest cryptocurrency network by market capitalization. Implemented in January, the Ordinals project allows for various forms of data such as images, digital art, and even video games like DOOM (inscription 466) to be inscribed directly onto satoshis, the smallest unit of Bitcoin, on the Bitcoin blockchain without the need for a separate sidechain or token.
ICYMI - the following articles are highly technical and delve into the evolution of the Bitcoin protocol and blockchain.
Rihanna's Iconic Song "B**ch Better Have My Money" Now as NFTs - Fans Get a Chance to Earn Royalties
Anotherblock, an NFT royalty platform, has collaborated with Rihanna, a global R&B/Pop icon, and superproducer Deputy to release their hit single "B**ch Better Have My Money" as an NFT with royalty revenue shares. This triple-platinum record is set to be the next major release on the platform.
As all NFTs were sold quickly, AnotherBlock was able to snap up $63,000 in revenue immediately. Holders will receive their first royalty payouts on Feb. 16, the company tweeted recently.
DigiDaigaku Dragons Super Bow $6.5 Million Adv
The global audience eagerly awaited the $6.5 million DigiDaigaku Dragons Super Bowl ad, but they were disappointed with the outcome. Instead of being directed to the official Dragons minting page, a vast majority of QR code scanners were taken to Gabe Leydon's (Limit Break's CEO and cofounder) Twitter account, where they were requested to like and retweet. This left many feeling unsatisfied and let down. The ad was supposed to feature a QR code to mint a DigiDaigaku Dragon, but instead, it left holders feeling disappointed and with no significant events to look forward to. Regardless of the public sentiment, Leydon sees the commercial as a success.
The Centre Pompidou and NFTs
Centre Pompidou— home to France'sFrance's National Museum of Modern Art—revealed plans for a new show exploring the connection between art and the blockchain, which will include 12 additional digital artists' works and NFTs from the lucrative CryptoPunks and Autoglyphs projects.
Doritos is the first company to recreate a Super Bowl advertisement in the Metaverse
Doritos will be the first to bring its Super Bowl advertisement to the Metaverse. The latest commercial showcases their marketing campaign, "Try Another Angle." The ad stars famous rapper Jack Harlow teaming up with legends Missy Elliot and Elton John to produce a unique single using triangular musical instruments.
On the reverse side, the Super Bowl has prohibited all cryptocurrency advertisements from this year's lineup following the collapse of FTX. Despite this, the NFL recently teamed up with Sorare, a Web3 fantasy league game, to offer licensed players NFTs. A 30-second advertisement slot during the Super Bowl costs around $7 million, with some commercials potentially costing more. The previous year, cryptocurrency companies invested approximately $54 million in 30-second Super Bowl ads.
Hermès won its legal battle against the artist who sold NFTs featuring their iconic Birkin bags
Mason Rothschild was found guilty by a New York jury of selling digital replicas of the designer brand's iconic bags.According to a Wednesday article in The Wall Street Journal, the French fashion house has won its legal battle against an artist who was offering to sell NFT replicas of the famous Birkin bag. Mason Rothschild was required to pay the brand $133,000, even though the long-term effects could be significantly more valuable. Excellent day for major brands. A terrible day for artists and the First Amendment, according to Rhett Millsaps, Rothschild's lawyer. In a statement, Rothschild added, "This is far from over."
NFTs as a Store of Culture
If you have yet to hear of the VV Checks project, you're missing out.The VV Checks project shows how NFTs can help memes capture and hold value. A meme is an image, video, or text that is humorously copied and spread rapidly on the Internet with slight variations. The VV Checks project was launched by designer and artist Jack Butcher in response to Twitter's decision to make its blue "verified" checkmark accessible to all users for $8 per month. Jack created an open-edition mint where anyone could mint as many NFTs from the VV Checks collection for $8 each. The project was a success, with 16,031 NFTs minted within 24 hours. However, the VV Checks project is not just an NFT; it's also a meme. Thanks to a suite of tools released by Manifold, the VV Checks meme has achieved great success and continues to evolve as artists, and their followers collaborate. Recently, the checks meme took another turn with the creation of the Pepe Check by Vincent Van Dough. This new meme resulted in 237,869 Pepe Checks minted for 0.0041 ETH each, netting $1.6 million. In conclusion, the VV Checks project demonstrates the potential of NFTs to help memes capture and hold value.
Shopify partnered with Thirdweb
In 2022 Thirdweb raised $24M at a $160M valuation from Haun Ventures, Shopify and Coinbase for its web3 development kit. The concept of "web3" has received a lot of hype. However, in reality, it is still primarily in its infancy and fragmented, attracting a lot of attention to web3 startups developing platforms to engage with it more easily. In the most recent development, Thirdweb, a startup that has developed a development toolkit to make it simpler to build and launch web3 products like marketplaces, blockchain games, NFTs, and DAOs, has raised $24 million in a Series A round of funding, valuing the company at $160 million.
EBay's recent job postings for NFT positions suggest that the company is preparing for a Web3 competition with Amazon
EBay is looking to expand its NFT marketplace KnownOrigin by hiring specialists in the Web3 sector. The jobs, which include a crypto counsel, head of community, content designer, artist liaison manager, product marketing manager, and tech lead, will help to build an understanding of the market and improve go-to-market outcomes. Most jobs are based in Manchester, UK, and some allow for hybrid working environments. eBay acquired KnownOrigin in 2021 and has since partnered with events platform Notable Live to provide fans with a new way to connect with players. Both eBay and Amazon, one of eBay's biggest rivals, are expanding their Web3 ambitions despite a bearish background in the market.
Titan Comics and Nouns DAO Collaborate to Release Comic Book NFTs
The Ethereum-based NFT project, Nouns, which focuses on building open-source IP, has been expanding its reach. After appearing in various physical and digital locations, such as a Super Bowl commercial and the Rose Parade, Nouns is now moving into comic books. Titan Comics, known for its licensed comic books tied to popular IPs like "The Simpsons" and "Blade Runner," will release the first of a six-issue series called "Nouns: Nountown" in April. The series is written by Titan's Senior Editor David Leach and illustrated by Danny Schlitz, with plans to publish a graphic novel through Penguin Random House eventually.
The AI battle
Microsoft and the new AI-powered Bing homepage
The artificial intelligence (AI) that Microsoft added to its Edge browser and Bing search engine is supported by the same cutting-edge technology that OpenAI used to develop ChatGPT.
Want to join the new bing AI-powered research tool? Join the waitlist here: bing.com/new
Google has rolled out a number of AI-powered capabilities in an attempt to rival the popular ChatGPT.
The latter has gained widespread recognition for rapidly producing essays, speeches, and exams. In response, Google has unveiled its solution, "Bard." However, a mistake made by the bot in a Twitter ad caused its stock value to drop dramatically.Google Acquires $300 Million Stake in AI Startup Anthropic.
Anthropic, like OpenAI, is seeking to continue the exploration and development of generative AI technology. Specifically, continuing research into "sophisticated computer programs that can write scripts and create art ins seconds."
Google cofounder Sergey Brin appeared to make his first request in years to access the code.
After years of being away from software development on a daily basis, Google cofounder Sergey Brin is once again getting his hands dirty as the competition for artificial intelligence technologies amongst Silicon Valley businesses is heating up.
Enjoy reading!
🆙Ins
AI
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Ordinals
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QOD
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