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Why Big Brands Won't Rule Fashion in the Metaverse
Big fashion houses are the ones who typically dictate what's in style—that won't be the case in the metaverse, says the head of gaming at Everyrealm.
Given the enthusiasm with which consumers have embraced NFTs and virtual spaces, it's clear that luxury and high fashion has a place in the metaverse. But even clearer is that digital users flock to quality, artful products—regardless of whether they were made by Rolex or Timex. Looking at fashion as art, it's reasonable to think digital fashion will follow the trend of NFT art, with original artists and their collections emerging as the most desirable. In particular, unknown, metaverse-first designers and brands are best suited for this paradigm.
In traditional fashion, designer brands have allure because of their reputation and resources. Generally speaking, when you buy from Tom Ford or Chanel, you’re receiving a known commodity. You have an expectation of quality material, thoughtful design, and seamless production – and thus you splurge for its premium price. But meeting these high standards costs a lot in terms of sourcing, design, and manufacturing, which is why there are relatively few luxury brands. Those constraints in turn create an element of scarcity, furthering the appeal and exclusivity of high fashion.
The metaverse flips that traditional model on its head since concerns about production quality, fit, or raw materials are irrelevant. Read More
Coinbase Adds Cardano Staking Rewards
Coinbase says the exchange has additional "plans to continue to scale our staking portfolio" throughout 2022.
Coinbase, the publicly traded cryptocurrency exchange, has been on quite the listing spree over the last year, adding everything from ApeCoin (APE) to Wrapped Centrifuge (WCFG).
It's also buffing up its staking options. The exchange announced today that it now offers staking for ADA, the native cryptocurrency of the Cardano blockchain.
In explaining the decision, senior product manager Rupmalini Sahu pointed to ADA's top-10 market capitalization and its "flexible, sustainable, and scalable" blockchain design. That design uses smart contracts, similar to Ethereum and Solana, to enable decentralized finance, NFTs, and other activities on the network.
Cardano is a proof-of-stake cryptocurrency, meaning that its network is secured not through mining, as with Bitcoin, but by people committing a portion of their ADA holdings to the network. In return, they receive a share of newly minted ADA. Read More
Chainlink launches startup program to provide blockchain resources to early-stage projects
Chainlink Labs recently announced a program that provides a blueprint to help new crypto projects in their blockchain business-building journey.
According to the company, the program called Startup with Chainlink will help early-stage founders and entrepreneurs with free information resources, community groups, and access to mentors from a pool of business and technical experts.
David Post, a Chainlink Labs executive who contributed to creating the program mentioned that it will let startups access scaling information, operations best practices, webinars, events, and community groups. However, top projects will be able to access more benefits such as mentors and venture capitalists. All of these are designed to help new blockchain projects survive in the long term.
“Startup with Chainlink helps founders get it right from the beginning so that they can scale their operations sustainably and become long-term players in the ecosystem.” Read More
DEXs and KYC: A match made in hell or a real possibility?
Decentralized exchanges must figure out how to up their Know Your Customer compliance before the regulation wave hits.
In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance, and blockchain space, as well as their roles in shaping the economy of the 21st century.
The White House came out with an executive order on regulating crypto recently. Across the sea, European legislators defeated a legislative push that could have spelled major trouble for proof-of-work networks. These developments should be ringing a bell that most crypto aficionados have long grown used to: Regulation is still very much on the agenda, and even though the blockchain community is now way more welcoming to compliance than it once was, this cannot go without at least a few ruffled feathers.
One of the things that will inevitably come up on the regulators’ target lists is Know Your Customer (KYC) protocols. As far as today’s ecosystem goes, these protocols are pretty much all over the place. Some platforms, usually the more centralized ones, handle KYC more or less the same way a traditional financial institution would, including at least an ID check-up. Others, however, work pretty much on a plug-and-play basis, meaning that as long as you have a crypto wallet, you are in business. Read More
Markethive Leading The Way In Web 3 Social & Market Media
Markethive, the blockchain-driven ecosystem for entrepreneurs, has already successfully bypassed the centralized web services, like AWS and Microsoft, and operates on its own cloud system. The new login system Markethive has developed relinquished the need for 3rd party APIs that are potential vulnerabilities in Web 2 and threaten our freedoms.
Currently, Markethive is expanding its cloud system, called Mining Hives, worldwide. This means all data about Markethive and its users will not be stored on servers owned and controlled by a centralized entity.
Instead, it is a distributed database on the Markethive Blockchain with no single point of failure and no internet disruption or censoring by dictatorial authorities who may decide to shut off the internet.
Web 3 gives us a better chance at building a more inclusive internet that respects all who use it. Decentralized networks can win the third era of the internet for the same reason they won the first era: by winning the hearts and minds of entrepreneurs and developers.
Web 3 is an opportunity to distribute the wealth amongst the rest of us generally paid only to shareholders. Markethive stands tall and is dedicated to delivering the emerging environment of Web 3 to its community; one of self and financial sovereignty. Read More
Decentralized marketplace releases a portal to strengthen community involvement through a voting tool
With the support from a growing community, a decentralized marketplace for computing assets provides high-performance services foundational to the next-gen internet.
Ethereum (ETH) has arisen as the baseline for decentralized applications (DApps), smart contracts, and an improved foundation for investment, finance, and Internet of Things (IoT) services, among other centralized offerings.
However, technology is growing exponentially, making the need for computing resources more prominent than ever before. Yet, it’s hard to access these resources as any other commodities. Application developers or datasets providers, for instance, can be reluctant to lose ownership of their assets or reveal them. To overcome that limitation, they need to rely on a network that addresses the challenges of ownership and trust.
Attempting to define the next step for computing assets is iExec, a protocol that builds a decentralized and privacy-preserving computing infrastructure, providing an opportunity to keep control of their personal information, deciding who can access it, when, and under what conditions. With the iExec Marketplace, resource providers can monetize the use of their assets and get paid every time somebody uses them while keeping ownership and privacy of those assets. Read More
What Is Ethereum 2.0? Ethereum's Consensus Layer and Merge Explained
The long-planned upgrade to Ethereum aims to improve the network’s scalability and security by switching to a proof of stake consensus mechanism.
The long-awaited Ethereum 2.0 upgrade is nearing its launch.
The multi-phased upgrade aims to address the Ethereum network’s scalability and security through several changes to the network’s infrastructure—most notably, the switch from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model.
Ethereum 2.0, also known as Eth2 or “Serenity,” is an upgrade to the Ethereum blockchain. The upgrade aims to enhance the speed, efficiency, and scalability of the Ethereum network so that it can process more transactions and ease bottlenecks.
But Eth2 also doesn't totally exist—in January 2022, the Ethereum Foundation said it would stop referring to the upgrade as Ethereum 2.0. The rebrand is intended to reflect the fact that what's been previously referred to as Ethereum 2.0 is a network upgrade rather than a new network. Accordingly, Eth1 is now known as the "execution layer," where smart contracts and network rules reside, while Eth2 is referred to as the "consensus layer," which ensures that devices contributing to the network are acting in accordance with its rules. Read More
Cardano Double Wins – Hits NFT Milestone And Launches First Hydra Node
Founder Charles Hoskinson talks about the growth of the Cardano ecosystem after the network hit multiple milestones one after the other.
Over 4 Million NFTs Minted
Cardano’s smart contracts have been posing serious competition to those on Ethereum, especially when it came to minting NFTs. As the largest Proof-of-Stake (PoS) network, Cardano’s gas fees are significantly lower than that of Ethereum, which is still running on the Proof-of-Work consensus mechanism. With around 50,000 different minting policies registered on the Cardano blockchain, it is safe to assume that the number also represents all the Cardano-centric NFT issuers. However, the actual number of NFTs is much higher, as some issuers can mint thousands of individual NFTs.
The Head of Ecosystem Growth at Input Output Global, Morgan Schofield, has tweeted out the news that the platform now hosts four million NFTs. He also stated that the pace of digital, sovereign ownership on the platform would only grow from here on out as they scale throughput.
The news has been shared by founder Charles Hoskinson, who said,
“Remember when I predicted thousands of assets and DApps on Cardano? Well I was wrong, there are now millions of native assets issued and DApps are now in the hundreds. #SlowAndSteady.” Read More
LG Electronics adds blockchain and crypto as new areas of business
South Korean tech giant LG Electronics has officially added blockchain and cryptocurrency as new business areas in its corporate charter.
According to a local South Korean news report, LG added two distinct crypto-related objectives during its annual general meeting on Thursday. The objectives include “the development and selling of blockchain-based software” and “the sale and brokerage of cryptocurrency,” leading to conjecture whether LG would establish some form of crypto exchange.
When asked about the company’s intention to start its own exchange or platform, an LG spokesperson tempered any speculation, stating, “Nothing has been decided yet. We just mentioned business areas in a broad manner.”
Rumors concerning LG creating a crypto-related marketplace emerged earlier this year when Bithumb CEO Heo Baek-young confirmed that the exchange was working with “a large company” to develop a nonfungible token (NFT) marketplace. 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.
