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What are dynamic NFTs?: Use cases and examples
Dynamic NFTs are “living” NFTs designed to be programmable and responsive to external inputs or conditions, opening up new opportunities for personalization, interactivity and value creation in the digital creator economy.
Nonfungible tokens (NFTs) are no longer new to the blockchain community, crypto enthusiasts and even for non-tech-savvy artists. That said, NFTs are digital items that can be anything from artwork to music to tweets. Each NFT has a special code that proves its authenticity, and it can be bought, sold or traded like other valuable things.
Over time and with the adoption and development of NFT technology, new use cases and types of NFTs emerge. One of them is the dynamic NFTs phenomenon, a significant evolution in the NFT space that has introduced a new level of interactivity and functionality for digital assets.
Dynamic NFTs, also known as dNFTs, are a new generation of nonfungible tokens that include programmable and interactive features, allowing the creation of digital items that can change and evolve over time and, as a result, enabling artists to offer a more engaging experience for buyers and fans.
Unlike traditional NFTs, which represent static digital assets with fixed properties, dynamic NFTs’ architecture is designed to respond to external parameters or conditions, such as user behavior, real-time market prices, time and weather, or other environmental data. For example, Pearpop’s dynamic NFTs allow creators to mint NFTs of their social media posts on the Solana blockchain. The dynamic nature of these NFTs means that their rank increases when the post gains popularity, using metadata such as comments, shares and likes. Read More
Circle VP: UK Banks 'Actively Unbanking People, Not Just Companies' Over Crypto
The stablecoin provider's European policy lead Teanna Baker-Taylor said banks limiting customer access to crypto is ‘very, very wrong.’
Actions taken by UK banks to restrict customer access to crypto are “not in the spirit of consumer protection,” Circle’s European policy lead said at an event last week.
Amid concerns that crypto firms are facing difficulties accessing banking services in the UK, Teana Baker-Taylor said individual customers were also being affected.
“One thing I think that is pretty clear is the UK banks are now actively unbanking people, not just companies,” Baker-Taylor said during a panel discussion at Citi's Digital Asset Symposium. “It's not about just refusing to give bank accounts to companies,” she said, claiming that banks were unbanking individuals because of their decision to buy “crypto assets that are perfectly legal.”
“Then your bank turns you off,” she said. “That, to me, feels very, very wrong, and not in the spirit of consumer protection. It feels very patriarchal.” Read More
Play-To-Own – Paving the Way for the Next Generation of Games
The gaming industry has come leaps and bounds since the introduction of the Magnavox Odyssey back in 1972.
We have progressed through Web 1.0, Web 2.0 and are now entering the new age of the internet with Web 3.0 – and with the evolution of the internet comes the evolution of gaming.
Blockchain technology has revolutionized the gaming industry, bringing transparency to games and complete ownership to players – something that was always missing in Web 2.0 gaming experiences.
We have seen many Web 3.0 games and publishers get the green light from venture capitalists and investors, such as Fenix Games and BLOCKLORDS, as the technology gets recognition outside the realm of finance.
Over the last few years, most Web 3.0 games have boasted the play-to-earn model, where players earn tokens, or in some cases NFTs, which can be sold on the open market for real gain. Read More
Masa announces soulbound ID tokens for Coinbase’s Base Network
The token protocol can be used for a wide variety of applications, including membership badges, loyalty programs, decentralized captcha bots, and credit underwriting.
Masa Finance’s soulbound tokens will soon be available on Coinbase’s Base network, according to an April 4 announcement from Masa Finance. The new tokens will allow users to link identifying and reputational characteristics to their wallet addresses, making credit underwriting possible on the blockchain, the company said.
Masa had previously released its Soulbound Token protocol for Ethereum and Celer.
In its announcement, Masa stated that the protocol can be used for a wide variety of applications, including human-readable domain names, membership badges, loyalty programs, achievement badges, decentralized captcha bots and more.
It will release a Base SBT Developer Toolkit within the coming weeks that “will support the seamless deployment and interaction with SBTs on Base,” which will include a quickstart guide, Masa command line interface, software development kit, REACT developer tools and examples of how to build applications using Masa soulbound tokens. Read More
Innovations that will change the way we work and interact online.
The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed, free speech platforms are partisan to the left or right and deal with de-platforming and boycotts from payment providers.
Unlike the social media giants, which only have one primary news feed algorithmically set by the central authorities, Markethive is integrating four news feeds to accommodate the multi-functional platform within the Markethive ecosystem.
The individual feeds are General, Video, Blogging, and Content Curation, and they are all accessible from the main page and can be algorithmically set by the individual user. The scope that Markethive has is enormous as it integrates all the vertical systems of the other platforms under one roof.
Social + Video + Blogging + Marketing + Curation + Broadcasting + Affiliate + Gamification + Cottage Businesses = Markethive: A Powerful Blockchain-driven Ecosystem
There is nothing out there like Markethive. We are an Inbound Marketing (automated marketing platform) like Marketo, Paragon, and even the wannabee MLM Onpassive platform. We are like Youtube, Instagram, LinkedIn, Twitter, etc., but will be superior to these legacy Web 2 media when we release all the aspects and layout of Markethive 2.0.
We have a dynamic social media interface and growing community with a strong collaborative ethos, with SaaS and broadcasting capabilities already operational. We are not waiting for the launch to access the services; they are already there for you to use to help you facilitate your business and increase your reach and following.
Markethive is enhancing and bringing the platform into the future internet with our new technology and interfaces, but still in keeping with the human touch. Read More
Crypto could eliminate 97% of traditional remittance fees: Coinbase
United States consumers sending international bank transfers pay more than $12 billion annually in remittance fees alone.
A recent blog post from cryptocurrency exchange Coinbase indicates the vast majority of United States remittance fees for international transfers wouldn’t apply to similar transactions conducted using cryptocurrency.
According to the exchange’s research, “The US average fee rate of 6.18%, means Americans' average yearly spend is likely close to $12 billion on remittance fees.” The post goes on to state that the average transaction time for such remittances ranges from one to 10 days, while similar cryptocurrency transactions usually take around 10 minutes.
Remittance payments represent a sort of “double whammy” for international transactions as, typically, they require both a sending fee and a conversion fee to exchange between currencies.
Cryptocurrency transactions, however, tend to cost significantly less. According to Coinbase, Bitcoin transaction fees average approximately $1.50 and Ether averages $0.75. Such fees are potentially much lower than traditional remittance fees, which, according to 6he World Bank, average 6.3%. By Coinbase’s estimates, sending money via BTC and ETH is 96.7% cheaper than traditional remittance methods. Read More
Video platform enters Web3, brings a decade of experience
Video platform forays into Web3 with a decade-long social media experience and over 100 million active users.
The controversial topic of how social media platforms distribute ad revenue generated from user content came into the spotlight when Twitter’s new owner, Elon Musk, announced revenue-sharing plans with creators. In a tweet, Musk specified that the micro-blogging platform plans to share ad revenue with creators “for ads that appear in their reply threads.” However, no further updates followed the initial announcement, adding to the centralized social media giant’s infamy for being stingy when it comes to revenue sharing with people who create content on its platform.
Thanks to the inherent capabilities of blockchain, such as decentralization, faster settlement speeds and better security, revenue sharing has become much more reliable in the Web3 era. Users have found new ways to interact with platforms and get a share of the revenue generated from a wide range of activities on Web3 platforms — giving birth to the action-to-earn trend. The gaming world quickly embraced play-to-earn (P2E), where players earn from the overall revenue of an online video game by participating in in-game activities and trading game-specific nonfungible tokens (NFTs). Read More
Massive supply chain attack targeting small number of crypto companies: Kaspersky
Crowdstrike and Kaspersky found an infection in a communications app that delivered a backdoor but said it had been deployed only a few times.
A supply chain attack installed a backdoor in computers around the world but has only been deployed in fewer than 10 computers, cybersecurity company Kaspersky has reported. The deployments showed a particular interest in cryptocurrency companies, it added.
Cybersecurity company Crowdstrike reported on March 29 that it has identified malicious activity on the 3CX softphone app 3CXDesktopApp. The app is marketed to corporate clients. The malicious activity detected included “beaconing to actor-controlled infrastructure, deployment of second-stage payloads, and, in a small number of cases, hands-on-keyboard activity.”
Kaspersky said it suspected the involvement of the North Korea-linked threat actor Labyrinth Chollima. 3CX said of the infection:
“This appears to have been a targeted attack from an Advanced Persistent Threat, perhaps even state sponsored, that ran a complex supply chain attack and picked who would be downloading the next stages of their malware.” Read More
Ultra’s New Web3 Gaming Marketplace Lets Users Resell Digital Games
Gone are the days of digital games rotting in your Steam library—Ultra Games will let you sell them to other users.
Long-running Web3 gaming startup Ultra is set to launch its Ultra Games marketplace later this month, and the store will arrive with a rare twist: the ability for users to resell digital games that they’ve purchased, via a secondary marketplace.
Set to launch on April 25, Ultra Games is built on top of the startup’s own Ultra layer-1 network—a fork of the EOS blockchain—which has been in development since 2018. Since then, the Ultra gaming ecosystem has gradually expanded with products like the Ultra Wallet, upcoming Ultra Arena esports platform, and Uniq Marketplace for NFTs.
The new digital PC gaming store will launch with about 60 or 70 titles, the company told Decrypt, including Web3 games like Cards of Ethernity, Cross the Ages, and MARS4. But it will also feature traditional “Web2” games without NFT or token elements, including Lords of the Fallen, The Walking Dead: The Telltale Definitive Series, and the Syberia game series. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
