Satoshi Island: Citizenship NFTs are Being Flipped on Secondary NFT Markets
Satoshi Island could soon be a functioning community, thanks to NFTs currently being minted. NFT citizenships are already being bought and sold on secondary NFT marketplaces. And they definitely have some interesting benefits. Property developer Anthony Welch and his partner, Theresa, have lived on a 300-hectare island home for the past ten years.
Currently called Lataro Island, it is being transformed into Satoshi Island. While it is mostly virgin rainforest, the plan is to make it into a sustainable smart city, with apartments and offices. Welch told international media that they are trying to build a genuine community. “We’re not trying to develop and make a profit.”.Welch said that his business partners saw his island advertised for sale. He then withdrew it from the market to collaborate with his new partners.
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Satoshi Island could soon be a functioning community, thanks to NFTs currently being minted. NFT citizenships are already being bought and sold on secondary NFT marketplaces. And they definitely have some interesting benefits. Property developer Anthony Welch and his partner, Theresa, have lived on a 300-hectare island home for the past ten years.
Currently called Lataro Island, it is being transformed into Satoshi Island. While it is mostly virgin rainforest, the plan is to make it into a sustainable smart city, with apartments and offices. Welch told international media that they are trying to build a genuine community. “We’re not trying to develop and make a profit.”.Welch said that his business partners saw his island advertised for sale. He then withdrew it from the market to collaborate with his new partners.
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K-pop singer Lee HongKi has released his new track as a piece of music NFT on the Muverse (muverse.info) platform, which sold out in about 1 hr.
Holders of Lee Hong Ki's track NFT can receive financial rewards from the interaction of artist and fans on the Muverse platform, or they can trade it on Opensea.
In addition, Lee HongKi also announced on Twitter that he holds YOLO BUNNY #5190 NFT and displayed it as his profile picture.
YOLO BUNNY NFT is the NFT series released by the Muverse platform. YOLO BUNNY NFTs' trading volume has exceeded 5,200 ETH on the world's largest NFT trading platform, Opensea.
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Holders of Lee Hong Ki's track NFT can receive financial rewards from the interaction of artist and fans on the Muverse platform, or they can trade it on Opensea.
In addition, Lee HongKi also announced on Twitter that he holds YOLO BUNNY #5190 NFT and displayed it as his profile picture.
YOLO BUNNY NFT is the NFT series released by the Muverse platform. YOLO BUNNY NFTs' trading volume has exceeded 5,200 ETH on the world's largest NFT trading platform, Opensea.
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OpenSea has announced it will start freezing sales for NFTs that it suspects have been stolen in an attempt to stop scammers and hackers from flipping ill-gotten tokens.
In a blog post on Wednesday, the company said it’s “beginning to test a new system” that will mark NFTs caught up in suspicious transactions as “under review,” blocking people from buying them using the platform.
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In a blog post on Wednesday, the company said it’s “beginning to test a new system” that will mark NFTs caught up in suspicious transactions as “under review,” blocking people from buying them using the platform.
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Instagram to support Polygon-powered NFT marketplace
The features are live with a small group of creators in the U.S. and will be expanded to other countries soon. Support is also live for Solana’s Phantom wallet, Meta said, adding that information for collections from OpenSea can now be viewed on the platform.
A creator economy potentially worth $100 billion cannot be realized without a digital economy with greater portability than today’s web services, Stephane Kasriel, Meta’s commerce fintech and web3 lead, said in a blog post. Meta’s ongoing strategy is to help creators earn a living, and the company won’t charge fees in its digital collectible marketplace until 2024 and will cover any blockchain-related gas costs.
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The features are live with a small group of creators in the U.S. and will be expanded to other countries soon. Support is also live for Solana’s Phantom wallet, Meta said, adding that information for collections from OpenSea can now be viewed on the platform.
A creator economy potentially worth $100 billion cannot be realized without a digital economy with greater portability than today’s web services, Stephane Kasriel, Meta’s commerce fintech and web3 lead, said in a blog post. Meta’s ongoing strategy is to help creators earn a living, and the company won’t charge fees in its digital collectible marketplace until 2024 and will cover any blockchain-related gas costs.
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Boson Protocol revamps redeemable NFT marketplace
Boson Protocol launched a revamped version of its NFT platform that allows people to sell real items — in the form of nonfungible tokens — that can be burned and redeemed for the actual product within a certain time period, it announced at NFT.London. The idea is that buyers can then trade, gift and transfer these NFTs without actually ever possessing the physical item.
The platform will be geared towards luxury goods."We've got a number of projects where they're tokenizing luxury wine and luxury whiskey," explained co-founder Justin Banon. Banon also sees NFTs as a way to bundle together different products, including digital twins — real-life items that have a twin in the metaverse.
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Boson Protocol launched a revamped version of its NFT platform that allows people to sell real items — in the form of nonfungible tokens — that can be burned and redeemed for the actual product within a certain time period, it announced at NFT.London. The idea is that buyers can then trade, gift and transfer these NFTs without actually ever possessing the physical item.
The platform will be geared towards luxury goods."We've got a number of projects where they're tokenizing luxury wine and luxury whiskey," explained co-founder Justin Banon. Banon also sees NFTs as a way to bundle together different products, including digital twins — real-life items that have a twin in the metaverse.
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U.K. lawmakers want to hear what the public thinks about regulating NFT that they fear are often overvalued.
The Digital, Culture, Media and Sport Committee (DCMS) that consists of members from different political parties launched an inquiry on Thursday on the operation, risks and benefits of NFTs, digital assets on a blockchain that represent ownership of virtual or physical items.
The U.K. is forging ahead with its plans to regulate the crypto sector. It recently added amendments that would recognize crypto as a regulated activity and would ensure that the ads of firms which are not fully authorized to operate in the country can be restricted.
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The Digital, Culture, Media and Sport Committee (DCMS) that consists of members from different political parties launched an inquiry on Thursday on the operation, risks and benefits of NFTs, digital assets on a blockchain that represent ownership of virtual or physical items.
The U.K. is forging ahead with its plans to regulate the crypto sector. It recently added amendments that would recognize crypto as a regulated activity and would ensure that the ads of firms which are not fully authorized to operate in the country can be restricted.
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⚡️ DeFi Industry Facing Serious Problem Tied to Uniswap and Network in General
The decline of the DeFi industry is not a secret to anyone as the industry has been going down since the end of 2021, with the demand for risk and decentralized assets in general going down since the beginning of the rate hike cycle. According to an on-chain researcher, the amount of capital on chain looking for yield is extremely high, which results in almost every opportunity yielding negative risk premiums that Uniswap's pools cannot withstand.As market data shows, there are over $70 billion worth of stablecoins on the Ethereum network that need productive use cases. Unfortunately, DeFi in its state today cannot offer investors what they actually need.
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The decline of the DeFi industry is not a secret to anyone as the industry has been going down since the end of 2021, with the demand for risk and decentralized assets in general going down since the beginning of the rate hike cycle. According to an on-chain researcher, the amount of capital on chain looking for yield is extremely high, which results in almost every opportunity yielding negative risk premiums that Uniswap's pools cannot withstand.As market data shows, there are over $70 billion worth of stablecoins on the Ethereum network that need productive use cases. Unfortunately, DeFi in its state today cannot offer investors what they actually need.
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One of the largest crypto exchanges Kraken has announced that its much anticipated NFT marketplace is going live in beta. The new market would be made available to customers who joined the market’s waitlist in May.
The new marketplace is expected to host about 70 Ethereum and Solana-based NFT collections. Also, users would bear no extra cost to store their NFTs on the exchange.
Kraken would face huge competition from OpenSea, the largest NFT marketplace by trading volume. LooksRare is another heavyweight in the industry after recording some interesting growth in the past week. Kraken is expected to differentiate itself from the other marketplaces by integrating tools to enable newbies to evaluate the worth of their NFTs.
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The new marketplace is expected to host about 70 Ethereum and Solana-based NFT collections. Also, users would bear no extra cost to store their NFTs on the exchange.
Kraken would face huge competition from OpenSea, the largest NFT marketplace by trading volume. LooksRare is another heavyweight in the industry after recording some interesting growth in the past week. Kraken is expected to differentiate itself from the other marketplaces by integrating tools to enable newbies to evaluate the worth of their NFTs.
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October may have seen a decline in NFT trading volume and sales, but analytics firm DappRadar says an 18% growth in monthly unique NFT traders shows the market is still in “great demand.”
According to a Nov. 3 report from DappRadar, the number of monthly unique NFT traders in October reached 1.11 million, increasing 18% from September, of approximately 950,000.
This is despite trading volumes falling 30% to $662 million in October, the lowest registered in 2022, while the sales count decreased by 30% to 6.13 million. The firm added:
“The rise in the unique traders’ count indicates that new people are entering the NFT market, and it is still in great demand.”
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According to a Nov. 3 report from DappRadar, the number of monthly unique NFT traders in October reached 1.11 million, increasing 18% from September, of approximately 950,000.
This is despite trading volumes falling 30% to $662 million in October, the lowest registered in 2022, while the sales count decreased by 30% to 6.13 million. The firm added:
“The rise in the unique traders’ count indicates that new people are entering the NFT market, and it is still in great demand.”
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Meta Prepares Large-Scale Layoffs as Metaverse Interest Cools Off
Facebook parent company Meta is planning to shed a large portion lot of staff beginning this week. It’s the latest tech giant to lay off employees, following Twitter last week. Meta added more than 27,000 employees in 2020 and 2021 combined. Now that some semblance of normality is returning.
On Nov. 6, the WSJ cited people familiar with the matter, reporting several thousand employees could be affected. Meta is expected to make an official announcement this week, it added. The earnings report came as a sting for Meta. It reported a painful 52% drop in net income, to $4.4 billion from $9.2 billion last year. Expenses soared, especially for its Metaverse division, Reality Labs. The firm’s virtual and augmented reality projects posted a $3.7 billion operating loss for the period.
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Facebook parent company Meta is planning to shed a large portion lot of staff beginning this week. It’s the latest tech giant to lay off employees, following Twitter last week. Meta added more than 27,000 employees in 2020 and 2021 combined. Now that some semblance of normality is returning.
On Nov. 6, the WSJ cited people familiar with the matter, reporting several thousand employees could be affected. Meta is expected to make an official announcement this week, it added. The earnings report came as a sting for Meta. It reported a painful 52% drop in net income, to $4.4 billion from $9.2 billion last year. Expenses soared, especially for its Metaverse division, Reality Labs. The firm’s virtual and augmented reality projects posted a $3.7 billion operating loss for the period.
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Meta Prepares Large-Scale Layoffs as Metaverse Interest Cools Off
Facebook parent company Meta is planning to shed a large portion lot of staff beginning this week. It’s the latest tech giant to lay off employees, following Twitter last week. Meta added more than 27,000 employees in 2020 and 2021 combined. Now that some semblance of normality is returning.
On Nov. 6, the WSJ cited people familiar with the matter, reporting several thousand employees could be affected. Meta is expected to make an official announcement this week, it added. The earnings report came as a sting for Meta. It reported a painful 52% drop in net income, to $4.4 billion from $9.2 billion last year. Expenses soared, especially for its Metaverse division, Reality Labs. The firm’s virtual and augmented reality projects posted a $3.7 billion operating loss for the period.
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Facebook parent company Meta is planning to shed a large portion lot of staff beginning this week. It’s the latest tech giant to lay off employees, following Twitter last week. Meta added more than 27,000 employees in 2020 and 2021 combined. Now that some semblance of normality is returning.
On Nov. 6, the WSJ cited people familiar with the matter, reporting several thousand employees could be affected. Meta is expected to make an official announcement this week, it added. The earnings report came as a sting for Meta. It reported a painful 52% drop in net income, to $4.4 billion from $9.2 billion last year. Expenses soared, especially for its Metaverse division, Reality Labs. The firm’s virtual and augmented reality projects posted a $3.7 billion operating loss for the period.
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The Chinese city of Wuhan first announced its plans to support metaverse and NFTs to boost its economy ruined by the coronavirus breakout and the pandemic.
However, as Chinese regulations involving the exchange of tokens or digital collectibles and NFTs are unclear at the moment, the city has decided to omit its "NFT" plans.
The city of Wuhan will still continue its metaverse and web3 plans and aims to foster more than 200 metaverse companies and build at least two metaverse industrial estates by 2025.
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However, as Chinese regulations involving the exchange of tokens or digital collectibles and NFTs are unclear at the moment, the city has decided to omit its "NFT" plans.
The city of Wuhan will still continue its metaverse and web3 plans and aims to foster more than 200 metaverse companies and build at least two metaverse industrial estates by 2025.
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According to a company document obtained by The Verge, Twitter’s daily user growth hit “all-time highs” during the first full week of Elon Musk owning the platform.
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Line's new NFT unit LineNext shared that it has launched a customer-to-customer (C2C) marketplace on the DOSI NFT platform.
The new marketplace will allow users to trade NFTs on its DOSI platform using Metamask and offer a simplified transaction process. Users will be able to buy and sell NFTs with just a few clicks using Ethereum, credit cards, and Naver Pay as payment methods.
Line plans to develop the NFT business not only in Japan but also globally, both in Korea and the United States; to focus on expanding the NFT ecosystem.
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The new marketplace will allow users to trade NFTs on its DOSI platform using Metamask and offer a simplified transaction process. Users will be able to buy and sell NFTs with just a few clicks using Ethereum, credit cards, and Naver Pay as payment methods.
Line plans to develop the NFT business not only in Japan but also globally, both in Korea and the United States; to focus on expanding the NFT ecosystem.
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The four-day conference hosted by Solana Breakpoint from Nov 4 to Nov 7 which attracted 13,000 people has come to an end.
In a quick wrap-up, Solana made a series of new announcements, including a roadmap showing a smartphone launch and a partnership with Google Cloud.
Solana mobile team has announced that pre-orders would be available in early 2023; however, the company has yet to declare an official date.
Regarding the partnership with Google Cloud, it was shared that Google Cloud is building a block-producing Solana validator to participate in and validate the network. Also, the previously announced Google Cloud's Blockchain Node Engine will feature on the Solana chain from 2023.
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In a quick wrap-up, Solana made a series of new announcements, including a roadmap showing a smartphone launch and a partnership with Google Cloud.
Solana mobile team has announced that pre-orders would be available in early 2023; however, the company has yet to declare an official date.
Regarding the partnership with Google Cloud, it was shared that Google Cloud is building a block-producing Solana validator to participate in and validate the network. Also, the previously announced Google Cloud's Blockchain Node Engine will feature on the Solana chain from 2023.
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Following the recent trend of many NFT marketplaces supporting zero royalties, the biggest player in the market OpenSea has introduced a new royalty structure.
Effective November 8, creators must add a specific code into the smart contract if they want to enforce royalties in secondary sales of their work.
However, the NFT community is on fire as the new structure took place. This would mean that a major chunk of the creator's income will disappear.
OpenSea has given itself until December 8, 2022, to come out with a firm stance regarding how it will address royalties enforcement for existing collections; and if OpenSea happens to take the 0% road, many artists are claiming that they would take their collection elsewhere.
Its worth noting that a recent October study by Galaxy Digital shows that a total of more than $1.8 billion in royalties were paid to Ethereum-based NFT collections.
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Effective November 8, creators must add a specific code into the smart contract if they want to enforce royalties in secondary sales of their work.
However, the NFT community is on fire as the new structure took place. This would mean that a major chunk of the creator's income will disappear.
OpenSea has given itself until December 8, 2022, to come out with a firm stance regarding how it will address royalties enforcement for existing collections; and if OpenSea happens to take the 0% road, many artists are claiming that they would take their collection elsewhere.
Its worth noting that a recent October study by Galaxy Digital shows that a total of more than $1.8 billion in royalties were paid to Ethereum-based NFT collections.
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❗️A Tip for 2023: Learn Cryptocurrency
For example, buying a DOGE coin in 2021 would bring you +9824% or BNB with a profit of +7402%, VET +2424%, ENJ +3220%, ADA +3234%, etc.
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For example, buying a DOGE coin in 2021 would bring you +9824% or BNB with a profit of +7402%, VET +2424%, ENJ +3220%, ADA +3234%, etc.
The thing is that today there are HUNDREDS of such coins. And by reading the Gagarin News channel, you will learn to spot them easily.
The editors of the channel non-stop monitor the market of cryptocurrencies, which can bring you money right now.
Subscribe while it's still free👇
https://www.tg-me.com/+NkECXSTLf0phYTdi
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The mass layoffs by Meta will commence on Wednesday morning, and the cut will apply to most departments totaling thousands of employees.
Meta CEO Mark Zuckerberg has taken responsibility and admitted that he is accountable for the company's missteps and that his over-optimism about Meta's metaverse had led to overstaffing.
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Meta CEO Mark Zuckerberg has taken responsibility and admitted that he is accountable for the company's missteps and that his over-optimism about Meta's metaverse had led to overstaffing.
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🚨 Polychain-backed DFX Finance hacked for $7.5 million
DFX Finance, a decentralized exchange protocol for fiat-pegged stablecoins, reported that it was attacked at 2:21 pm ET. An unknown attacker siphoned approximately $7.5 million from DFX, according to estimates from security researchers at BlockSec. The DFX Finance team acknowledged the security exploit and said it has paused all of its smart contracts to contain the issue. “We were notified of the suspicious activity within 20-30 mins of the first transaction and executed a pause on all DFX contracts within a few minutes after confirming the attack,” it said. The remaining portion of the stolen assets — about $3.2 million — was extracted by an MEV bot in a front-running transaction, also called a sandwich attack.
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DFX Finance, a decentralized exchange protocol for fiat-pegged stablecoins, reported that it was attacked at 2:21 pm ET. An unknown attacker siphoned approximately $7.5 million from DFX, according to estimates from security researchers at BlockSec. The DFX Finance team acknowledged the security exploit and said it has paused all of its smart contracts to contain the issue. “We were notified of the suspicious activity within 20-30 mins of the first transaction and executed a pause on all DFX contracts within a few minutes after confirming the attack,” it said. The remaining portion of the stolen assets — about $3.2 million — was extracted by an MEV bot in a front-running transaction, also called a sandwich attack.
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