crypto / 62 posts found
Seedphrase on the Malleable Nature of Web3 Identity
If you had gotten into crypto earlier, you’d probably be a millionaire by now. At least, that’s the common sentiment shared by those who missed the boat on the 2013 and/or 2017 Bitcoin booms. Hindsight is almost always 20/20, but we cannot change what has happened in the past. Rather, we can only use our experience to prepare for and build for our own future. This is precisely the attitude of Daniel Maegaard, better known in the NFT space as the influential collector and investor Seedphrase. Having made a small fortune by investing in Bitcoin and altcoins nearly a decade […]
ApeCoin Staking Is Live: Here’s Everything You Need to Know
It’s official, ApeCoin staking is live, and as of December 12, the first $APE rewards have accrued. But whether you’re an early Bored Ape holder that claimed every subsequent Yuga Labs airdrop, or an NFT enthusiast who only recently purchased their first bit of $APE, staking can seem like a daunting task. A process that has long been a facet of the crypto industry, if done right, staking has the potential to be a significant win for token holders. But if mishandled, it can have catastrophic consequences. With so much misinformation being circulated throughout the metaverse, it’s become more important […]
The Block CEO Resigns Amid Sam Bankman-Fried Loan Scandal
The Alpha: Michael McCaffrey, the former CEO of the crypto news publisher The Block, resigned today after it came to light that he failed to disclose a series of loans obtained from Alameda Research, the trading arm of Sam Bankman-Fried’s FTX, to restructure and provide capital to the publication in early 2021, according to a statement released on the company’s blog. McCaffrey has also resigned from the company’s board. The three loans, which totaled $43 million and reportedly included a $16 million payout to fund the purchase of an apartment in the Bahamas for the outgoing CEO, have called the […]
The Fall of FTX Has Revealed Web3’s True Colors
For many, the crypto world feels like it’s in shambles. The high drama between rival exchanges Binance and FTX has set the stage on which it played out fully ablaze. Over the last few days, repeated revelations have wiped out billions in funds, sent the Web3 community reeling, and irrevocably altered the future of crypto and NFTs. It was the last thing the space needed. The dramatic fall from grace came during a community-wide effort to push back against OpenSea’s recent announcement that it would likely stop enforcing creator royalties for existing collections as of December 8. On top of […]
New Fees and Killing Bots: What Musk’s Twitter Takeover Means for Web3
Elon Musk officially owns Twitter. After spending months trying to back out of the deal, the world’s richest person is now running one of the world’s most far-reaching and prominent social media platforms. It also happens to be the platform that Web3 and NFT enthusiasts call home. So what does this mean for the community? And could this takeover actually be good news for Web3? Mixed community sentiment So far, the reception amongst Web3 figureheads has been mixed over Musk’s purchase. After all, Musk has the potential to make the platform a more crypto-friendly, Web3-integrated place, indicating his desire to […]
The Meaning of NFTs: It’s About More Than Money or Art
What are non-fungible tokens (NFTs)? It seems like a simple question that should have a simple answer. As we outlined in our guide, an NFT is a unique unit of data on a blockchain that can be linked to objects to provide proof of ownership. But that’s just the literal definition of the technology. To really understand NFTs, we need to go beyond that. We need to understand their meaning, i.e., how they are valued and used. The two most common answers when discussing the value and use of NFTs are as follows: 1) NFTs are digital assets that let […]
Four Misconceptions About the Ethereum Merge Debunked
It’s happening. The Ethereum Merge is going down in less than two days, as of writing. For those living under a virtual rock, the hotly anticipated Ethereum Merge refers to the upcoming Merge of the Ethereum mainnet with the Beacon Chain. Following this, Ethereum will move to a proof-of-stake (PoS) verification mechanism, which is touted as using at least 99 percent less energy than blockchains operating under a proof-of-work (PoW) consensus mechanism. We’ve already seen hard evidence of low-impact blockchains operating under a PoS model in the real world, thanks to Tezos, so the promise is irresistible. The Web3 community […]
A Guide to Dogechain: The Next Evolution of Dogecoin
What was once just a joking paraphrase of one of the many meme-worthy lines inspired by a 2015 clip of Shia LaBeouf can now be read as an assessment of the sheer potential of NFTs: “Don’t let your memes be dreams” — and we saw it come to fruition when an NFT based on Nyan Cat sold for $600,000. And now it’s happening again as the Dogecoin continues to develop as a platform for decentralized finance, blockchain gaming, and of course, NFTs. At the center of the further legitimization of the OG meme coin is Dogechain — which was recently […]
While Crypto Exchanges Seek Regulation, the SEC Eyes Punitive Steps
As tensions continue to mount between the Securities and Exchange Commission (SEC) and crypto exchanges in the U.S., Coinbase has emerged as a symbol of regulatory resistance to what it sees as an unfair and highly-flawed approach to Web3 oversight. After months of tough talk from SEC Chair Gary Gensler (who has repeatedly said he views the coin offerings on crypto exchanges as securities) and frosty interactions with Coinbase, the agency reportedly launched investigations into every U.S.-based crypto exchange this month, according to Forbes. It’s a bold move that has rattled the Web3 world. This move comes on the heels […]
Should NFT Creators Expect Royalties? Sudoswap Says No
Creator royalties have remained a prominent facet of the NFT market for years. Even in the early days of the Web3 creative economy, artists of all creeds could sustain themselves through a mix of income from primary sales and kickbacks received via secondary market royalties. Yet, while creator royalties seem crucial, they aren’t hard-coded into the market — much less individual smart contracts. Creator royalties, sometimes called creator fees, are an option only implemented to reserve a certain percentage of each secondary sale (peer-to-peer trades), which is sent back to the NFTs originator. When collecting on secondaries, most collectors have […]