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We’re in the midst of an NFT boom, but that won’t always be the case. Today, NFTs are being flipped quickly — much like house flipping in the lead up to the 2007-08 financial crisis.
Obviously, that doesn’t mean that NFTs are all driven by speculation, just that we need to be cautious and prudent when evaluating their value. Artificial intelligence (AI) is one tool for helping identify and produce valuable art NFTs. Let’s dive into that more here (but see Christian Jensen’s recent article for a broader background on the investment lingo in NFT land).
Cryptocurrency might be illegal in China, but that doesn’t mean non-fungible tokens (NFTs) have to be.
China is planning to separate the infrastructure used for crypto from the one used to create NFTs so that its crackdown on cryptocurrencies doesn’t harm the country’s NFT industry, a report from South China Morning Post reveals.
To do this, China’s government-backed Blockchain-based Service Network (BSN) is developing a new blockchain infrastructure project that allows individuals and businesses to develop and manage NFTS without using infrastructure developed for cryptocurrency.
China plans to separate the infrastructure used for crypto from the one used to create NFTs. Here’s why.
Prager Metis has become the first CPA firm to open up a metaverse headquarters. The firm, which in real life is based in New York, is setting up shop in Decentraland, a 3D virtual world, as part of a joint venture with Banquet LLC, a metaverse studio.
The firm purchased the piece of virtual real estate on Dec. 28, a three-story digital structure. On the first floor is an open floor plan that doubles as a gallery space for nonfungible tokens from Prager Metis clients along with a large entertainment area. The second floor will provide more of a working space with meeting rooms and conference capabilities. The third floor will serve as a rooftop space where Prager Metis intends to host events and even live entertainment.
The metaverse has been attracting attention ever since Facebook’s parent company announced a name change last October to Meta to highlight its interest in developing technology for virtual reality and augmented reality. More businesses have followed suit in setting up shop in the metaverse. Prager Metis isn’t the first firm to dip its toes in the waters: PricewaterhouseCoopers’ Hong Kong firm announced last month that it had bought virtual land on another metaverse platform, the Sandbox, but Prager Metis is going further by setting up an actual headquarters in Decentraland. It plans to focus on advisory services for clients and potentially for other accounting firms as well. The firm already has clients who have entered the rapidly growing market for nonfungible tokens, or NFTs, which use blockchain technology to create collectibles and artwork that people bid on to buy and trade.
NFTs, or non-fungible tokens, offer many potential benefits to creators. They apply the mechanisms of scarcity to digital assets by allowing artists to render them as one-of-a-kind collectibles, like a painting or a baseball card. This means artists — especially digital artists — who have struggled to make their streamable, screenshot-able or reprintable work hold value — can price their items at rates appropriate for something in short supply.
However, the digital trading mechanism is still in nascent stages, and rife with scams, hacks and copyright issues. Beeple was hit by an organized hack, for example. While artists can sometimes find financial solvency with NFTs, other times, they lose millions.
Can a Mars economy be established on top of Blockchain Technologies?
In this youtube we’ll review the basic principles of Blockchain Technologies, and how they can be applied on another planet.
Mars is an isolated planet, with travel time of ~ 6 month and communication time of 5 – 20 minutes to Earth. Sometimes, when the Sun is between Earth and Mars communication can’t be established without a relay station, which may slow communication even further.
The initial settlements on Mars will have a small number of people when compared to Earth. So, Mars can’t effort to have a financial and legal system similar to Earth. Those system must be cheaper, faster and more efficient to operate.
Can a Mars economy be established on Blockchain Technologies?
In this presentation we’ll review the basic principles of Blockchain Technology. Something that can benefit the financial status of this channel’s viewers right here on Earth.
Then we’ll explore what are the challenged of using this revolutionary technology on Mars rather then on Earth.
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ALEX VIKOULOV: Happy New Year, Friends! Live from Union Square in San Francisco. I wish you a magical, prosperous and successful 2022! Now, 2021 made us “fluent” in cryptos, blockchains, NFTs, Web 3 and Metaverse. I would call this new year “The Gateway Year to Transcension” — as we make our transition from mobile computing to immersive computing.
We’re now witnessing the initial stages of the Technological Singularity, when we merge with our advanced tech and our minds are set to eventually “migrate” to the Metaverse. This truly historical moment is perhaps comparable to the moment in our deep past when we, as sea creatures, crawled out from the ocean for the first time.
Good luck with your every endeavor and everything else this new year! Love you all!
Trivergence is starting to affect every industry. In financial services, the wallet has become a smart app that can collect data and learn. On a blockchain, users can exchange, save, borrow, invest and protect this digital money peer-to-peer without the intermediation of banks. In manufacturing, 3D printers are manufacturing aircraft parts in a Boeing facility with a blockchain network facilitating all the patented files, contracting and payments peer-to-peer. Telecommunications companies are no longer negotiating complex, costly and ever-changing roaming agreements, but using blockchain-based smart contracts among providers to automate the web of payments and settlement globally.
Over time, the Trivergence will usher in a next-generation internet where nearly every animate and inanimate object on Earth generates data, a distributed ledger records and secures this data and AI analyzes the data, communicates with the objects, alerts their owners and continuously adjusts and improves the efficiency of the economy and the sustainability of its effects on the environment.
New business models enabled by this Trivergence are beginning to disrupt many industries and provide platforms for innovation in the economy for decades ahead. This second era has weighty implications for every business, government and individual, as well as technology strategy, architecture and leadership. If we can overcome the dark side — and that’s a big “if” — this Trivergence helps us reclaim our digital identities, effectively fight climate change and help solve some of the world’s most intractable problems.
Emerging technologies including AI, virtual reality (VR), augmented reality (AR), 5G, and blockchain (and related digital currencies) have all progressed on their own merits and timeline. Each has found a degree of application, though clearly AI has progressed the furthest. Each technology is maturing while overcoming challenges ranging from blockchain’s energy consumption to VR’s propensity for inducing nausea. They will likely converge in readiness over the next several years, underpinned by the now ubiquitous cloud computing for elasticity and scale. And in that convergence, the sum will be far greater than the parts. The catalyst for this convergence will be the metaverse — a connected network of always-on 3D virtual worlds.
The metaverse concept has wide-sweeping potential. On one level, it could be a 3D social media channel with messaging targeted perfectly to every user by AI. That’s the Meta (previously Facebook) vision. It also has the potential to be an all-encompassing platform for information, entertainment, and work.
There will be multiple metaverses, at least initially, with some tailored to specific interests such as gaming or sports. The key distinction between current technology and the metaverse is the immersive possibilities the metaverse offers, which is why Meta, Microsoft, Nvidia, and others are investing so heavily in it. It may also become the next version of the Internet.
Facebook’s metaverse is far worse than you thought…
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The Metaverse will bring about a new age of crypto trading, business, NFT’s, and investing. But there is another side to the Metaverse. Because Mark Zuckerberg sees the Metaverse as a new business venture to extract the money out our depressed and lonely generation. Mark Zuckerberg wants the metaverse to make money from his users privacy and data which poses a major threat to our society. This video explains the metaverse and what it means for business and society. There is lots of money and wealth to be made. This is how Metaverse makes money because it’s business model relies on our sick society. So join me as I explain the truth behind Facebook’s meta rebranding and why Metaverse is the most evil business in the world.