#Reddit is working on #NFT profile pics as well! pic.twitter.com/l2cqfSuIbK
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Lire la suite: Les brèves cryptos du 27 janvier 2022
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What Advisors Should Know About NFT Investing
Every day seemingly brings a new scam in the world of crypto, and yet the growth of the industry is in no way slowing.
The popularity of non-fungible tokens (NFTs), at least for now, continues to overshadow news of scams such as “rug pulls,” where NFT creators hype up the value of a new digital asset then cash out once people buy into it. Consider the recent Frosties rug pull, where more than 2,000 people bought $1.3 million in cartoon ice cream digital collectibles before the anonymous creators shut down their social media pages and disappeared. The collection of 8,888 NFTs still remains, but digital assets are only as strong as their leaders; with nobody to head up the Frosties community, all those pieces of art are nothing more than cute cartoons.
DYOR
The general guideline among the crypto community is DYOR – “do your own research” – when buying into an NFT project of any size. But in a sector that’s evolving so fast the federal government can’t keep up and hackers are getting away with billions, what constitutes “research” can feel more like Google searches, Twitter Spaces chats and shaky ground.
NFT collectors suggest making friends with others in the space before investing any money in new projects or communities. An easy way with a low barrier to entry is to start by joining free Twitter Spaces chats and Discord communities, where you’ll learn about the added benefits that NFT projects offer buyers (known as utility), industry news and more.
From a financial planning perspective, NFTs are likened to rare collectibles like comic books, authentic artwork, doll collections, sneakers and other alternative investments: Enjoy them, but don’t expect them to fund your whole retirement. (NFTs also involve special tax considerations.)
Except, in some cases, NFTs can change someone’s financial situation dramatically – or at least they have. Consider the World of Women NFT collection, which dropped in July 2021 and had an early average price of .1 ETH (somewhere around $300 USD). The collection now ranks on OpenSea, where each NFT is valued at 7 to 8 ETH on average (between $21,000 and $24,000 at the time of writing). Or the sold out Women Rise NFT collection, which reached 1,900 ETH in trading volume (approximately $5.9 million at the time of writing) in just a few months.
Buying an NFT creates an indelible record of digital ownership on the blockchain, so the tokens can therefore serve as a membership ticket of sorts. It’s not every community’s recipe for success, but many NFT creators added value to their projects through utility to NFT purchases, awarding investors with exclusive access to online clubs, gaming communities, Discord chat rooms and interactive experiences – all in addition to the art itself.
The risks and rewards of NFTs
All this fast money has the NFT world divided. On one hand, the potential of NFTs is undeniable, but on the other, the risks and rewards are a bit head-spinning.
“This NFT thing is like when a dog gets a new toy and they just keep ripping the toy out. And then now they don’t have a toy,” said Nelson Merchan Jr., co-founder and CEO of blockchain public relations firm Light Node Media. “ It’s kind of like we’re almost doing the same thing, and we’re realizing, ‘OK, maybe we shouldn’t do it this way.’”
A crypto investor since 2017, Merchan has owned NFTs from the popular Pudgy Penguins collection since shortly after it dropped in June 2021. The Pudgy Penguin founders were recently ousted by frustrated collectors who were tired of waiting for the project to deliver on its grandiose promises. But Merchan, surprisingly, isn’t terribly concerned about the state of his Pudgy Penguin NFTs, noting the promise inherent in what the situation demonstrates.
“It was definitely not a rug pull,” said Merchan, noting that rug pulls happen with speed and anonymity. During the alleged Bored Bunny rug pull on Jan. 5, for instance, scammers seemingly made off with 2,000 ETH in just a few hours before silencing their social media accounts.
The Pudgy Penguins project stands a chance, Merchan argues, because the process of replacing the leaders was community-driven, public and more or less democratic.
“Some of these projects that have been failures are actually really good,” he said. “The community, through the failure, is having to figure out how to build something from this really cool NFT and say, ‘Let’s make it work.’ Those are the NFT projects that I think have significant potential to grow because it’s the community saying we’re going to do something about it. At the end of the day, with NFTs and really crypto in general, it’s all about the community. If the community is strong, the project is going to be strong.”
When it comes to long-lasting value, investors should think into the future about ways that NFTs can integrate with existing infrastructure, argues Merchan. Through smart contracts and QR codes, NFTs have the potential to unlock greater value in both the metaverse and the “real” world through ticketing, VIP memberships and sales.
Consider the club scene. “People go to the club party, they order bottles, the promoters are there,” Merchan said. “The club is always looking for ways to keep people coming back and excited about their brand. This is where NFTs are going to be perfect. Say you attend the club a few times in that month; you’re getting a specific amount of NFTs each time you go. Maybe the level of the NFT increases in rarity if you go, let’s say, three or four times in that month.”
Rare NFTs will theoretically determine whether a person gets rare perks. And all these transactions will exist on blockchain, a sort of digital ticket stub that definitely beats the shoebox most of us kept collectibles in as kids.
Decentralized value investing
It’s almost as if investing in an NFT community could be considered a form of decentralized value investing.
“I’m really investing in the community, or at least the potential of the community to come out of these NFTs,” Merchan told CoinDesk. “If you look at it from the outside, they’ve been failures – almost all of them. But the energy is actually really strong.”
The trick is to not buy the hype, no matter how enticing. “It’s just a very crazy industry. You have to keep more of a long-term perspective. If you’re buying an NFT to flip it, well, that’s just trading. There’s a lot of risk involved,” said Merchan.
“But if you’re buying it because you truly like the community, or because something about it intuitively makes you feel like it is going to go somewhere, that I think is a lot more appealing,” he noted.
Warner Music Group to Launch ‘Concert Theme Park’ in Sandbox Metaverse
Warner Music Group (WMG) is entering the metaverse with a music-focused theme park in The Sandbox, the company announced Thursday.
WMG is the owner of a slew of popular music properties, including record labels Atlantic, Warner Records, Elektra and Parlophone.
The theme park will feature “concerts and musical experiences” from the music company’s star-studded roster of artists, which includes the likes of Ed Sheeran, Bruno Mars, Dua Lipa and Cardi B, according to a press release.
As part of the announcement, The Sandbox will be hosting a LAND sale for virtual properties adjacent to the prospective festival site for fans to purchase in March. Consider it the latest corporate foray into the immersive experiences that some are calling the future of the internet.
“We are deeply focused on Web 3 right now and the impact it will have on music. It’s incredibly difficult to put value against fandom right now,” Oana Ruxandra, EVP of business development at WMG, told CoinDesk in an interview. “The music industry had big decades in the ’80s and ’90s, and then Napster came around and there was a pullback. Then the same thing happened when Spotify came in. We want to be driving opportunity, not behind the eightball.”
WMG isn’t the first major music player looking to expand its audience into virtual worlds. The metaverse game Decentraland hosted a three-day virtual music festival in October, with artists like Snoop Dog having toyed with virtual gatherings in The Sandbox dating back to September.
This is the #metaverse… A live rave happening right now in @decentraland for the upcoming @LightbulbmanNFT release by #BjarneMelgaard. Music from @feedelity @prins_thomas @mightbetwins #NFTdrop #rave #virtualevent #NFTCommunity pic.twitter.com/aC4WYRbgH9
— Alex Moss (@alexmoss) January 20, 2022
While no one knows for certain what companies getting into “the metaverse” will entail, it’s clear that partnerships with games like The Sandbox and Decentraland are a safe starting point.
Crypto Custody Firm Fireblocks Raises $550M at $8B Valuation
Cryptocurrency custody firm Fireblocks has raised a $550 million funding round, valuing the technology provider at over $8 billion.
Charting Fireblocks’ recent slew of funding announcements shows the anticipated demand among investors for a slice of clever technologies like multi-party-computation (MPC), a way of sharding private keys when managing the safekeeping of digital assets. Not to mention the company’s increase in clients from 150 to over 800 over the course of 2021.
“It’s pretty aggressive growth, and we have a lot of clients from very different use cases and domains, from traditional financial institutions to leading hedge funds, exchanges, neo banks, gaming companies, payment providers and so on,” Fireblocks CEO Michael Shaulov said in an interview. “So we are putting a lot of investment into our client support functions across the board to catch up and to provide all those people the service that they need.”
Read more: Crypto Custody Firm Fireblocks Raises $310M at $2B Valuation
The Series E round was co-led by D1 Capital Partners and Spark Capital with participation from General Atlantic, Index Ventures, Mammoth, Google-linked CapitalG, Altimeter, Iconiq Strategic Partners, Canapi Ventures and Parafi Growth Fund.
Crypto Winter?
In light of the recent slump in crypto prices, might 2021 appear in retrospect to have been a particularly febrile period, with its gushing investments and rocketing valuations?
“We started the company in July 2018, and if you look at the Bitcoin price chart back then it was one of the worst times,” Shaulov said. “While the market right now is fueled by speculation and leverage and is inherently volatile, when you look at new use cases around payments, gaming and NFTs, there’s nothing speculative about these projects. That’s what we came here to build.”
On Wednesday, crypto exchange FTX US announced a $400 million funding round. It was also valued at $8 billion.
Coinbase Still the ‘Blue Chip Way’ to Gain Crypto Growth Exposure, Goldman Says
Shares of Coinbase have fallen around 45% after earnings alongside a similar sized fall in crypto market cap, due to expectations of higher interest rates and the selloff in “longer duration, high growth related assets,“ Goldman Sachs said in a research note published on Wednesday.
The bank continues to see Coinbase as the “blue chip way” to gain exposure to the ongoing development of the crypto ecosystem, adding that further progress on new revenue initiatives could lead the stock to “outperform its beta to crypto prices,” analysts led by Will Nance wrote in the report.Despite the recent volatility in the crypto market, Goldman remains buy-rated on Coinbase shares and continues to see a number of new potential revenue streams.Non-fungible-tokens (NFTs), derivatives and further adoption of staking initiatives could provide additional upside to the bank’s forecast.Goldman cut its 12-month price target to $288 from $352, to account for lower crypto prices and a daily average run-rate for volumes of around $4 billion in Q1.Downside risks to the bank’s target include weaker crypto prices/lower volatility, commission pressure and the threat of crypto regulation. Rival investment bank Mizuho Securities is not so bullish on Coinbase. In a report on Tuesday Mizuho said that it saw “significant downside to consensus revenue expectations.”
Read more: Coinbase Shares Are Very Unattractive Heading Into First Half, Mizuho Securities Says
NFT : YouTube envisage d’intégrer les tokens non fongibles
Dans sa lettre, publiée aujourd’hui, Susan Wojcicki, PDG de YouTube, suggère que la plateforme de partage de vidéos pourrait adopter les technologies Web3, y compris les tokens non fongibles (NFT), un moyen fiable de certifier les actifs numériques stockés sur la blockchain, pour aider les créateurs de YouTube à gagner de l’argent. Bien qu’aucun plan […]
L’article NFT : YouTube envisage d’intégrer les tokens non fongibles est apparu en premier sur Cointribune.
CoinTracker Raises $100M as Crypto Tax Season Heats Up
Crypto tax software developer CoinTracker raised $100 million from venture backers, entering growth mode just as the 2022 tax season is heating up.
Now valued at $1.3 billion, 40-person CoinTracker – which last raised $1.5 million in a 2018 seed round – plans to scale its global tech support and integrate with a universe of crypto companies, CEO Jon Lerner said.
It’s also bulking up on high-ranking talent, sniping Uber’s Vice President of Engineering Gaurav Garg as the new Head of Engineering, and Zack Reneau-Wedeen, Robinhood Crypto’s Head of Product, for Product Lead.
CoinTracker’s partnership wheels are churning, too. On Monday CoinTracker announced an exclusive deal with Coinbase’s expanded “tax center” that assists exchange users in preparing their crypto taxes.
“It’s trying to get ahead of the problem, which is very important for exchanges to do, especially with this infrastructure bill,” Lerner said, referring to expanded reporting requirements set to come online in 2023.
“Every exchange will be reporting their users’ capital gains to the IRS and we expect the same thing to play out in other countries as well,” he said.
Getting tax season 2021 right will be less important for the crypto crowd. The Internal Revenue Service (IRS) is paying increasing attention after last year’s massive spikes in everything from coin prices to NFTs. Every sale, swap and wrap is taxable as capital gains.
CoinTracker is hardly the only crypto tax company-turned-unicorn. TaxBit, which works directly with the IRS, crossed that mark last August.
Accel led CoinTracker’s series A with reups from General Catalyst, Initialized Capital, Y Combinator Continuity, 776 Ventures, Coinbase Ventures, Intuit Ventures and Kraken Ventures, a press release said.
L’IRS affirme que la fraude est omniprésente dans les secteurs crypto et NFT
L’organisme fiscal américain, l’Internal Revenue Service (IRS), estime que le secteur des cryptomonnaies et des jetons non fongibles (NFT) est en proie à la « fraude » et a prévenu que les célébrités faisant la promotion des cryptomonnaies sur les médias sociaux pourraient faire l’objet d’enquêtes….
Lire la suite: L’IRS affirme que la fraude est omniprésente dans les secteurs crypto et NFT
Après Twitter, YouTube amorce le virage NFT
Sprint sur les réseaux sociaux – YouTube amorce le virage NFT. C’est ce qu’à annoncé la PDG de la plateforme vidéo dans sa lettre annuelle aux créateurs de contenu. Cette décision fait suite à l’ajout par Twitter de NFT en tant que photos de profil la semaine dernière. En effet, les utilisateurs de Twitter Blue ont déjà pu connecter leurs comptes à OpenSea pour utiliser les NFT vérifiés de leur collection personnelle.
YouTube rejoint la course aux NFT sur le circuit de la blockchain
Bien que le marché des cryptomonnaies ait déjà perdu quelques milliards de dollars depuis le début de l’année, celui des NFT semble ne pas être impacté. Beaucoup de célébrités comme Tom Brady, Paris Hilton, Snoop Dogg, Eminem et bien d’autres ont pris la fusée en marche. Certains ont lancé leurs collections, d’autres se sont appropriés les plus tendances.
YouTube rejoint désormais Twitter, Netflix, Instagram et Meta (anciennement Facebook) dans cette crypto-course aux NFT. Les objets de collection numériques ont donc de beaux jours devant eux. C’est en tous cas ce que laisse espérer la célèbre chef d’entreprise. Elle ne manque, par ailleurs, pas d’éloges sur le Web 3.0 et son écosystème.
« L’année passée dans le monde de la crypto, des tokens non-fongibles (NFT) et même des organisations autonomes décentralisées (DAO) a mis en évidence une opportunité auparavant inimaginable de développer la connexion entre les créateurs et leurs fans. »
Susan Wojcicki
La forme que prendraient les tokens non-fongibles sur YouTube n’est actuellement pas claire. Cependant, selon la PDG, l’objectif serait « d’aider les créateurs à capitaliser sur les technologies émergentes« . Reste à savoir quand et comment seront lancées ces fonctionnalités sur la plateforme de vidéos la plus regardée au monde.
L’écosystème crypto sur les réseaux sociaux : sprint ou course de fond ?
Twitter vient de présenter sa première expérience avec les NFT. Les utilisateurs de la plateforme peuvent déjà exposer leur BAYC et autres œuvres d’art numériques en photo de profil avec Twitter Blue. Le haut dirigeant d’Instagram a également exprimé son intérêt pour la technologie. Enfin, le Financial Times annonçait la semaine dernière que Meta (Facebook) et Instagram travaillent sur un marché NFT et d’autres fonctionnalités y étant liées.
Ce n’était qu’une question de temps avant que la vague des NFT ne déferle sur les réseaux sociaux. Les plateformes veulent désormais devenir le lieu incontournable pour l’achat et la vente de NFT.
Si YouTube permettait aux créateurs de vendre des NFT directement à leurs fans, ce serait une aubaine majeure pour la technologie. Les NFT ont gagné en popularité au cours de la dernière année mais ne sont pas encore massivement adoptés par le grand public. La course est lancée !
L’univers des NFT est aussi passionnant qu’en pleine effervescence. Si vous préférez privilégier la tranquillité d’esprit, faites le choix de plateformes crypto plus traditionnelles. Actuellement, profitez de jusqu’à 100€ en cryptomonnaies offerts lors de votre inscription sur la plateforme Swissborg (lien affilié, pour un dépôt minimum de 50€).
L’article Après Twitter, YouTube amorce le virage NFT est apparu en premier sur Journal du Coin.
NFT News : Désormais, vous pouvez connecter votre wallet metamask à la Dapp de Heroes TD
Bonne nouvelle pour les passionnés du play-to-earn, Heroes TD! Ils peuvent à présent lier leur portefeuille metamask à l’application mobile du jeu que ce soit sur Android ou IOS. L’annonce a été rendue publique dans la journée du mercredi sur le compte twitter du jeu. Deux jours après que les responsables de Heroes TD ont révélé aux utilisateurs qu’il intégrerait des musiques rap pour acclamer les « game heroes ». Heroes TD: un Géant du GameFi en herbe Le terme GameFi est un nouveau concept dans l’industrie du gaming qui désigne GameFi – également connu sous le nom de “play-to-earn” – est le […]
L’article NFT News : Désormais, vous pouvez connecter votre wallet metamask à la Dapp de Heroes TD est apparu en premier sur Cryptonaute.