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Latest West Africa Art Fair Features NFTs, Organizers Highlight Importance of Blockchain
The organizers of Art X Lagos, a West Africa art exhibition, recently kickstarted a non-fungible token (NFT) art fair that features the works of African artists drawn from more than six countries.
Blockchain Provides Important Opportunity for Artists - In a statement made on Art X Lagos’ website, the organizers argue that blockchain is now providing digital artists with an opportunity to sell their work. They added that such a paradigm shift opens up the possibility of a more decentralized and more collaborative economy, where creators can lead the way towards a more inclusive, and more diverse society.
To demonstrate the extent of Art X Lagos’ determination, the organizers, alongside Superrare — a digital art market on the Ethereum blockchain — recently kickstarted the art fair. Read More
NYC Mayor-Elect Wants Schools to Teach Crypto, Says Bitcoin Is New Way to Pay for Goods and Services
New York City Mayor-elect Eric Adams plans to make NYC the center of crypto and innovation. He says we must open our schools to teach cryptocurrency and blockchain technology, noting that bitcoin is “a new way of paying for goods and services throughout the entire globe.”
New York City Mayor-elect Eric Adams talked about making NYC the center for innovation and cryptocurrency in an interview with CNN Business Sunday. He also explained the reasoning behind his tweet saying that he will take his first three paychecks in bitcoin.
Adams was asked, “Would you encourage businesses in New York City to accept bitcoin or other cryptocurrencies?” He replied: “We are going to look at it. We are going to tread carefully. We are going to get it right.” Read More
Cronos Beta Mainnet Is Now Live, Brings Crypto.org to the Next Level
The crypto world continues to develop its technology to provide an outstanding experience to all its users and investors around the world. This time, Cronos, the Ethereum Virtual Machine (EVM) chain running in parallel to the Crypto.org Chain, runs its beta mainnet live. In detail, the Cronos mainnet is expected to level up the Crypto.com ecosystem.
The scope of the Cronos beta mainnet includes: Firstly, EVM support, a feature that allows developers to port their smart contracts from Ethereum and EVM-compatible chains to Cronos seamlessly. Secondly, the up-to-date Cosmos SDK with IBC support, a characteristic that enables Cronos to offer the most up-to-date features and fixes from the Cosmos SDK. Read More
Blockchain Lottery And How It Could Transform The Industry
Blockchain technology is a distributed public ledger that relies on smart contracts. Blockchain lottery uses this technology to create a trustless platform where the entire process is transparent. Since the blockchain is a decentralized and public platform, everyone can see the odds of winning, transactions, number of players, among other things.
Smart contracts are what make the entire process trustless. In the regular lottery, players have to trust the operators and believe in their good faith. But that’s not always the case. There have been many instances where the lottery was rigged, and players lost their money.
The chances of that happening are very limited, with smart contracts automatically triggering actions based on an event. For example, if a ticket number is drawn, the ticket owner automatically gets a certain amount of money. This means it's no longer within the power of the lottery operator to authorize the payment. Read More
DeFi (Decentralized Finance) is a term used to cover various components and activities, including Decentralized crypto Exchanges or DEXs which are at the cutting edge of DEFI. The rapidly evolving market of the DEX allows peer-to-peer cryptocurrency transactions without the need for an intermediary.
DeFi is a system by which financial products become available on a public decentralized blockchain network. That makes them open to anyone to use, rather than going through middlemen like banks, brokerages, and even centralized crypto exchanges.
Unlike the legacy financial institutions and centralized crypto exchanges (CEXs), the KYC/AML (Know Your Customer and Anti-Money Laundering) protocol. These are usually government-issued ID, Social Security number, or proof of address. They are not necessary with the DeFi protocol and are welcomed by those concerned about their privacy and who cannot access valid documents.
More specifically, DeFi operates in a decentralized environment on public and permissionless blockchains, making it possible for buyers, sellers, lenders, and borrowers to interact peer to peer and use services encoded into open-source software protocols and smart contracts rather than a company or institution facilitating a transaction.
Historically, intermediaries have been the central hub acting as agents and brokers of trust, providing liquidity and security. Over the last century, the massive failings of this system, resulting in tumbling economies and the onset of a global recession, revealed a major flaw in the architecture. With the emerging technology, we can see a glimpse of a new financial services infrastructure. Read More
Ripple to launch ‘Liquidity Hub’ for finance firms that want to offer crypto trading
The fintech firm wants to let its enterprise clients have access to cryptocurrencies through a new service called Liquidity Hub.
Fintech firm Ripple has announced a new service aimed at finance companies that will allow them to offer cryptocurrency trading to customers.
Ripple unveiled the Liquidity Hub service in a blog post on Tuesday, touting a “crypto-first future” in which every company will need to have a strategy for crypto assets.
The new service will target its enterprise clients, giving them access to digital assets from a range of providers such as exchanges, market makers, and over-the-counter trading desks. It is currently in the preview stage and will launch in 2022.
Liquidity Hub will initially support Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), and XRP with availability varying by geographical location, according to the announcement. Read More
The International Chess Federation is first global sports association with its own NFT marketplace
FIDE said that it hopes to “welcome a new crypto demographic” through the “gamification of iconic match moments, unique collectibles [and] chess-related art.”
Digitalization keeps on coming to one of the oldest games in the world as FIDE, the International Chess Federation, announces its plans for a nonfungible token (NFT) marketplace. The group said that the marketplace, which launches at the end of November, will be called ChessNFT.
FIDE is the first global sports federation to create its own NFT ecosystem and it does so ahead of the FIDE World Chess Championship 2021. The event is set to take place at the Expo 2020 Dubai from Nov. 24 to Dec. 16.
Just last month, the reigning world champion, Magnus Carlsen, won an NFT trophy in the Meltwater Champions Chess Tour. A replica trophy was auctioned off to a fan for 6.88 ETH, with the winner also getting the chance to play with Carlsen. Read More
Polygon: Ethereum’s Friend Is Looking To Make Big Strides
In a time of many new crypto coins, platforms, and contracts, Polygon is starting to pave a way and rise to the throne of Ethereum layer 2s. Polygon, formerly known as the Matic Network, is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks.
With recent headlines surrounding both Polygon and correlating Ethereum, it’s wise to get an in-depth perspective on Polygon’s market positioning for those interested in Ethereum alternatives. Read More
Gaming Developers Hungry for Blockchain and NFT Tech—New Stratis Study Reveals
Stratis, a leading blockchain platform, reveals the growing appetite of video game developers towards blockchain and non-fungible token (NFT) technology. In a new study also undertaken by Opinium, the research disclosed that the majority of the respondents are willing to consider using these developments in future games.
These developers believe that incorporating decentralized finance (DeFi), NFTs, and play-to-earn models will unlock each game’s full potential and provide more engaging player experiences.
Going into detail, 197 video game developers were surveyed in the US and UK and 58% of them said they are now starting to use blockchain technology. Meanwhile, 47% began to integrate NFTs into the games they build. 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.
