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Ticketmaster selects Flow blockchain for minting NFT event tickets
Customers will receive an NFT on top of a regular ticket purchase for select events.
According to Flow, a digital engagement layer-1 blockchain created by Dapper Labs, Live Nation's subsidiary Ticketmaster has unveiled nonfungible tokens (NFTs) tickets for event organizers minted on its blockchain. The primary purpose of the NFT tickets will be for commemorative value. But aside from being used as mementoes, they can also be used as proof of attendance at notable concerts.
However, such virtual commemorative tickets are not valid for entry. One still needs to show a purchased ticket with a bar code from Ticketmaster or Live Nation for entry. As told by Live Nation, it selected the Flow blockchain based on its eco-friendly nature, claiming that creating an NFT on Flow uses less energy than doing a Google search or making an Instagram post.
It is possible to send the NFT ticket to others through email or QR code via accounts on the Ticketmaster/Live Nation site, which also has support for wallet addresses. Ticketmaster began a pilot test program for NFTs issued as memorabilia for specific events over the past six months through a quiet rollout.
To date, more than 5 million NFTs have been minted on the Flow blockchain through Ticketmaster. Read More
Any Ethereum Forks ‘Won’t Be Supported’, Says NFT Market OpenSea Ahead of Merge
As Ethereum edges towards its highly-anticipated merge event, the leading NFT marketplace OpenSea has taken a stand against any forks.
OpenSea, the largest nonfungible token (NFT) marketplace, will be exclusively supporting proof-of-stake (PoS) NFTs on Ethereum, tweeting on Wednesday that “we are committed to solely supporting NFTs on the upgraded Ethereum PoS chain.”
The NFT behemoth added that any Ethereum forks, a technical term for when a blockchain network splits, will not be supported on OpenSea to provide the smoothest transition possible following the merge.
OpenSea is the first NFT marketplace that opened up shop on Ethereum in 2017 and now supports over 80 million NFTs and around $31 billion in total volume since inception, according to DappRadar.
NFTs are blockchain-based tokens that represent ownership in art, music, and real estate. They are kept on the Ethereum blockchain and traded on marketplaces like OpenSea.
The merge event, one of Ethereum’s biggest upgrades to date, is expected to occur sometime between September 10 and September 16. The event will shift Ethereum from its proof-of-work (PoW) consensus algorithm to a PoS-based algorithm. Read More
IOG and Cardano Foundation Continue to Bring the Vasil Upgrade
The Vasil Upgrade is in the pipeline after the Alonzo upgrade began to see the light by bringing many new possibilities for decentralized applications, decentralized finance, and decentralized exchanges. The Vasil Upgrade is expected to improve the network and enhance its performance.
For these purposes, it will look to leverage Cardano’s Hard Fork Combinator approach and increase the throughput, script efficiency & reduce latency in the block transmission. The upgrade takes inspiration from the late Vasil St Dabov, a loved & respected Cardano community member, for its title.
To share a synopsis at the moment, developers are working on the final phase that includes testing the final integration and upgrading before the Hard Fork Combinator event. 1.35.3, a node release candidate, has already been delivered and other downstream components have already been updated.
The community of developers and SOPs have access to the testing environment that consists of four phases, each serving a different purpose with a different ledger era. Read More
Mayo Clinic taps into blockchain technology for clinical trial design
The firm seeks to use Triall's medical software to create immutable clinical trial records.
On Thursday, Dutch blockchain startup Triall announced that it has partnered with American nonprofit medical centre Mayo Clinic to optimize clinical trial design and the management of study data. Starting this September, Triall's eClinical platform will support a two-year multi-centre pulmonary arterial hypertension clinical trial that includes 10 research sites and more than 500 patients across the United States.
The software will support activities such as data capture, document management, study monitoring and consent. As told by Triall, the purpose of the collaboration is to demonstrate an immutable public ledger audit trail through its blockchain technology to boost the integrity of clinical trials. Investigators, regulators and stakeholders can then review and assess such trial-related data with trust, knowing that no one can modify the records. Read More
A democratic society values a free-flowing media ecosystem. A healthy media ecosystem is one of the characteristics of a democratic society. Mass media outlets such as newspapers and cable TV networks were prominent in the past. Today, the internet and social media platforms allow for greater communication across society.
Journalism, investigative correspondents, and even freelance writers are essential to that ecosystem. High-quality reporting revealing brutal truths and users' scope and exposure on social media to either create or access information are forces that can drive genuine societal change. And even keep the power structures in check.
Despite the positive aspects mentioned above, harmful practices and negative external forces related to the media ecosystem often eclipse them. These issues are usually easy to recognize once they’re identified. Therefore, it is important to acknowledge them and spread awareness about their potential risks.
Doing so will help you make informed decisions about how you use media and how it can impact your life and the lives of others. The following are a few issues pervasive in many digital news sites, forums, and social media platforms. Read More
Markethive Media has embraced blockchain technology and cryptocurrency, building an ecosystem that belongs to “we the people,” eliminating many of the issues plagued by media outlets today. With its meritocratic culture, dynamic social media interface, and growing community, Markethive is enhancing and bringing the platform into the future internet with new technology and interfaces, but still in keeping with the human touch.
Blockchain firms fund university research hubs to advance growth
Universities implement physical and virtual research hubs dedicated to advancing blockchain technology through scientific and educational knowledge.
The demand for organizations to adopt blockchain technology is growing rapidly. Recent findings from market research and advisory firm Custom Market Insights found that the global blockchain technology market size was valued at $4.8 billion in 2021, yet this amount is expected to reach $69 billion by 2030. While notable, it’s become critical for the industry to enable rigorous research into the development of the blockchain sector.
Tim Harrison, vice president of community and ecosystem at Input Output Global (IOG) — the developer arm behind the Cardano blockchain — told Cointelegraph that during the past year, the blockchain ecosystem has witnessed various risks from projects that have taken a “go fast and break things” approach.
“Not only do these companies run these risks for themselves, but mistakes and failures can also negatively impact their end consumers,” he said. As such, Harrison believes that peer-reviewed research can help prevent such situations while also resolving issues that continue to linger from earlier iterations of blockchain development. Read More
What is a gold-backed token and how does it work?
Gold-backed tokens are getting increasingly popular as a more accessible alternative to investing in physical gold.
A gold-backed cryptocurrency is a type of digital currency that is backed by physical gold. The currency’s value is based on the current market price of gold and can be used for transactions just like any other type of cryptocurrency.
Some cryptocurrencies are backed by gold in order to tie the derivative asset (crypto) to a tangible asset (gold), thereby preventing excessive fluctuations in price. Thus, gold-backed cryptocurrency is often more stable than other digital currencies. This is because the price of gold is generally less volatile than the prices of other assets, such as stocks or cryptocurrencies.
Gold-backed cryptocurrency can also be used as a hedge against inflation. If the price of gold rises, the value of the currency will also increase. This could protect investors from losing money if the price of other assets, such as stocks, were to fall.
Gold-backed cryptocurrencies can be bought and sold on exchanges just like any other type of cryptocurrency and can also be used to purchase goods and services online. People who invest in gold-backed cryptocurrencies enjoy increased returns from the pricing of gold and can redeem tokens in exchange for gold. Read More
Andreessen Horowitz Announces Free Licensing System For NFTs
The crypto unit of Silicon Valley Andreessen Horowitz (a16z) is all set to release a set of free, public “Can’t Be Evil” licenses.
The firm has designed the licenses specifically for non-fungible tokens (NFTs) and is inspired by the work of Creative Commons.
As per the official press release, the community can freely use these licenses, which come with certain goals in mind. This includes – helping NFT creators protect or release their intellectual property (IP) rights and granting NFT holders a baseline of rights that are “irrevocable, enforceable, and easy to understand.”
Helping creators, holders in the space, as well as their respective communities, to “unleash the creative and economic potential of their projects with a clear understanding of the IP framework in which they can work” is yet another key focus area of the licenses.
The firm reportedly engaged in talks with some of the leading IP lawyers in the Web 3 space to devise six types of widely applicable NFT licenses and make them available for users.
Even as some of the most prominent blue-chip collections have brought discussions regarding NFT license agreements into the spotlight, the problems persist.
It is important to set some industry standards designed specifically for NFTs with the evolving Web 3 innovations testing the limits of legacy legal frameworks in a similar approach to that of Creative Commons, an American nonprofit organization that establishes free copyright licenses for creators.
To that end, a16z’s Miles Jennings and Chris Dixon believe that greater standardization across the sector will help in tapping the economic potential. Read More
Enterprises Have Been Slow to Embrace Blockchain. Here’s Why
Blockchain is approaching its thirteenth birthday. It might not be old tech, but it can no longer be regarded as cutting-edge tech either. True, it took a few years for the separation of Bitcoin and blockchain to occur and a couple more for enterprises to take notice. By 2017, however, the applications for blockchain technology within the business world were starting to be worked out.
Fast forward five years, and every enterprise worth its salt has filed some kind of blockchain patent or signed onto a pilot scheme of some kind. And yet wide-scale integration of blockchain into the heart of modern enterprises has yet to materialize. The reasons behind this owe less to ideological and technical concerns.
The greatest impediment to broader business adoption of blockchain is arguably due to a pivotal pillar of the blockchain trilemma. As Vitalik Buterin famously proposed, decentralization, security, and scalability are the three cornerstones of good blockchain design, but it’s only possible to optimize for two of them.
Right now, the latter of these pillars – scalability – is the biggest stumbling block. In a 2018 report, almost half of 200 companies that were working with blockchain claimed scalability was the greatest hurdle they faced. The situation has only gotten marginally better in the years since. 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.
