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intermediate Hardly anyone who has any sort of involvement in the crypto space hasn’t at least heard about DeFi. While decentralization has been the main focus of all things crypto, there’s no other field in the blockchain industry that embraces it as well as DeFi does. Its main goal is to provide users with fully functional and efficient decentralized alternatives to all mainstream financial services such as loans, storage, and so on. Why do we need DeFi? Well, for the same reason we need blockchain technology — there’s a serious lack of privacy and transparency in the modern world. Decentralized…

Non fungible tokens (NFTs) started as what are essentially tamper-proof ledgers to verify authenticity and guarantee collectors’ ownership rights over artworks. However, since their emergence several years ago, NFTs have become much more than that. Now, many projects claim to seek to deliver new forms of value and utility. So far, many have centered around community building and intellectual property. As of yet though, no notable projects have tried to center their build around the potential of the core technology that is blockchain.Simultaneously, growing traction of the Metaverse concept and Web3 culture have led to many enthusiasts identifying themselves by…

Blockchain Blockchain technology has transformed our understanding of money and value. It has created an entirely new decentralized, secure, and transparent digital asset class. Many people, however, still regard blockchain technology as merely a tool for cryptocurrencies. In reality, blockchain technology has the potential to transform traditional finance through the tokenization of real-world assets, in addition to digital assets. Real-world assets are tangible assets that have traditionally been difficult to trade and transfer ownership, such as real estate, art, and commodities. These assets, however, can now be digitized and converted into tokens that can be traded on the blockchain, making…

NFT The gaming streamer who won the top prize in Yuga Labs’ debut game Dookey Dash has put the NFT up for sale on OpenSea for 2,222 ETH, or about $3.7 million. Dedicated jpeg collectors have until March 16 to snap up the “key,” which is currently a crucial part of a token-gated mission set by the Bored Ape Yacht Club and CryptoPunk parent company. The top offer on OpenSea is currently 10% of the proposed price, at 222 ETH. For three weeks, users who possessed Bored Apes’ “Sewer Pass” NFTs were able to play the Dookey Dash video game…

NFT NFT lending has become a trend since the start of 2023, as the industry experiences a resurgence in key metrics. On-chain data revealed that the total monthly borrowing in January across NFT loan protocols reached the highest level since mid 2022, according to a report from The Block Research. The trend has been driven by a combination of factors, including a recent boom in NFT markets, the emergence of lending protocol BendDAO and a surge in lending activity around NFTs created by Yuga Labs. BendDAO leading the charge BendDAO has already outpaced its competition by currently occupying a market…

On this week’s episode of NFT Steez, co-hosts Alyssa Expósito and Ray Salmond continue their chat with Justin and J.P. Alanis, the co-founders of StoryCo — an open media platform — on the prospect of a community of creators franchising intellectual property (IP) through collaboration and soulbound tokens. Speaking on his experience with musician Tyler the Creator, J.P. Alanis said that content creation is not limited to one particular creator, but should be open to all types, including fans. However, despite the symbiotic nature between fans and creators, there are still barriers to incentivizing the creators and navigating the bureaucratic nature…

NFT There has been a lot of noise and questions recently about Ordinal Inscriptions. So what are they? The simple answer is that ordinals are NFTs that you can mint on the Bitcoin blockchain. But Orindal Inscriptions aren’t your usual NFTs. Unlike Ethereum NFTs, which depend on off-chain metadata that can be modified, Ordinal Inscriptions enable all data to be inscribed directly on-chain. You’re reading Crypto for Advisors, a weekly look at digital assets and the future of finance for financial advisors. Subscribe here to receive the mailing every Thursday. It was this flaw in Ethereum NFTs that caused software…

NFT The marketplace for non-fungible tokens from the Internet giant eBay has opened the possibility of receiving royalties from sales. The KnownOrigin NFT marketplace has opened up the possibility for digital artists to earn royalties from the resale of virtual collectibles. The developers of the project announced this on Twitter. Starting from February 24, artists verified by the platform will be able to receive payments from resales. To do this, they will need to deploy their own smart contract on KnownOrigin. Users will be able to do this using the Creator Contract feature, which does not require knowledge of the…

NFT Picture yourself at the Super Bowl, a sold-out concert, or a high-octane NBA game. History is unfolding, right before your eyes. But are you even watching? Probably not. Most likely, you’re taking a photo on your phone. Photography and videography have never been more central to sports, music, and entertainment. But according to two-time NBA All-Star Baron Davis, they’ve also never been less respected as mediums. “There was a time in America, during our renaissance, when photographers were just as famous as celebrities, when they were treated as artists,” Davis told Decrypt in an interview this week. “I think…

The United States Federal Deposit Insurance Corporation (FDIC) has sent a letter to executives of cryptocurrency exchange CEX.IO warning them that they are potentially in violation of federal law due to false and misleading statements about the exchange’s insurance status. The agency has given the exchange 15 days to make corrections.The statement in question is found in the small print details of the exchange’s state money transmitter license information. The information for Rhode Island reads, “U.S. dollars held in your CEX.IO fiat currency wallet are FDIC-insured up to $250,000 per account.” The FDIC letter also noted that if the exchange…