money / 85 posts found
Ethereum Co-Founder Joseph Lubin on NFTs and the Fall of FTX
The crypto industry has changed significantly since Joseph Lubin helped found the Ethereum blockchain in 2015. Now focused on innovating as the CEO of ConsenSys, a leading Ethereum software company and the firm behind the popular MetaMask software wallet, Lubin has remained at the forefront of Web3 as the cultural shift it created continues to reorganize the creative and tech industries. Speaking with nft now Co-Founder & CEO Matt Medved during a fireside chat at nft now x Mana Common’s The Gateway, Lubin reflected on his on-chain career. He also provided insight into the state of the crypto and NFT spaces while looking toward […]
Here’s How the NFT Community Is Reacting to the FTX Crash
Binance’s impending purchase of struggling crypto exchange FTX has officially fallen through. Now what? Without a support system to help FTX through its current liquidity crunch, it’s unclear what will become of the second-largest crypto exchange, not to mention the funds of its more than one million users. But perhaps this was predictable. After all, adjacent to the original authoritative announcements made via Twitter by both FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao, the nonbinding letter of intent (LOI) signed by Binance was relatively flimsy from the start. And this LOI ultimately acted as both the entry and […]
Binance Says It Will Not Acquire FTX
It’s official. Binance will not be purchasing FTX. One day after Binance announced its intent to buy its collapsing competitor, the company has now announced it will walk away from the deal, according to an initial report from the Wall Street Journal. This comes after days of animosity shared between FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao that was felt throughout the crypto industry. Till now, Binance’s potential purchase of FTX has had the collective crypto and NFT communities on edge. But it seems fears might not be assuaged anytime soon, since, without a support system to help […]
BREAKING: Binance Says It’s Buying FTX
The Alpha: On Tuesday morning, FTX CEO Sam Bankman-Fried Tweeted that his crypto exchange had reached a deal with Binance to protect customers amid a liquidity scare. The sentiment was echoed by Binance CEO Changpeng Zhao, who Tweeted that the company had signed a non-binding Letter of Intent to fully acquire FTX.com in the near future. Zhao also noted that the situation is “highly dynamic” and that Binance has the discretion to pull out from the deal at any time. Why it matters On the morning of Tuesday, November 8, FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao confirmed […]
A Complete Rundown of the Art Gobblers Allow List Controversy
Art Gobblers is a truly unique NFT project. The collaborative result of Rick and Morty’s Justin Roiland and Web3 investment firm Paradigm, Art Gobblers is made up of 2,000 NFTs that “gobble” art — drawings made by people in the project community that can be minted as 1 of 1 NFTs themselves and displayed in the Art Gobbler’s “belly gallery.” Along with some funky “Goo” tokenomics that influence how much art users can create and a burn dynamic that incentivizes community collaboration, the project aims to become a self-contained ecosystem of artists, collectors, and traders that lasts for years to […]
What Happens to Your Crypto and NFTs When You Die?
Nine days into their honeymoon in December 2018 in Jaipur, India, Gerald Cotten, and Jennifer Robertson made an emergency trip to a private hospital. Cotten had come down with a severe stomachache, and after a diagnosis of acute gastroenteritis, his condition worsened severely. Blood tests pointed to septic shock as the culprit. His heart stopped, and despite doctors’ best efforts, Cotten was declared dead just 24 hours after his stomachache had begun. As the CEO and Co-Founder of QuadrigaCX, Canada’s then-biggest Bitcoin exchange, Cotten’s death soon made international headlines, but not just because of his status in the crypto world. […]
Reddit NFT Avatars: How to Buy and Sell the Best Snoo for You
The social media platform Reddit has experimented with crypto and NFTs for years. Albeit, indirectly — and without actually using blockchain technology. For years, power users have deployed a feature of the site to highlight particularly funny, informative, or touching comments from other users: Awards. These awards come in three tiers of ascending price and have been common sights on Reddit for years. They also cost real money to purchase and confer. However, doing so bestows a special, unique status on the post or comment upon which an Award is conferred. Sound familiar? With Reddit’s recent launch of its collectible […]
How Reddit’s Collectible Avatars Blew Up the NFT Space
On July 7, 2022, Reddit announced the launch of a new project: Collectible Avatars. These limited-edition PFPs, created by independent artists in partnership with the company (in addition to popular Reddit community creators), would confer unique platform benefits to their owners. Backed by the Polygon blockchain and available for purchase at a fixed price in fiat, it was Reddit’s first large-scale foray into the NFT space. The announcement took many by surprise. The social platform’s NFT subreddit had long been a terrifying and cacophonous place where you were equally likely to encounter either seething NFT hatred or annoying and malevolent […]
Magic Eden Makes Creator Royalties Optional. We Got Community Feedback
The debate surrounding creator royalties in the NFT space has yet to find a conclusion. Considering the fast-paced nature of the market, it comes as no surprise that key players in Web3 are changing their position on royalties and other hot topics, and breaking news that creates normalizing waves throughout the ecosystem. One such key player is Magic Eden. In September, the Solana NFT marketplace giant announced the launch of MetaShield, a new suite of tools designed to help NFT creators protect their royalties. Now, the platform has doubled back, stating that creator royalties will now be optional on the […]
Physical NFTs? One Potential Mainstream Use-Case Explained
Understandably, when most people think of NFTs, they do so under a primarily digital framework. That makes perfect sense. After all, the underlying technology that makes minting an NFT possible in the first place mostly exists as software — blockchain technology. But can NFTs be physical objects? The answer is yes. Despite how the prevailing mainstream conversation around NFTs is continually misdirected toward “expensive monkey JPEGs,” there’s so much more possible with this technology than enabling the sales of digital images. And it all starts with how people have been minting NFTs tied to physical objects. Why mint physical NFTs? […]