Is there a future for digital fashion in the Metaverse?

Courtesy of Kat Taylor Cattytay, digital fashion appeared in 2017. However, we began to talk loudly about it only in 2020. It all began five years ago when Kat first made an Instagram post with the caption “Virtual Clothing!!!”  Then, there was a collaboration with Adidas, Off-White, Vetements and Balenciaga. These brands were interested in introducing fashion digitalization even before it blew up in the mass media discourse. Note that the COVID-19 pandemic had yet to happen and people were not stuck at home. Thus, there was no need for digital clothing at all. Nevertheless, it happened and fashion digitalization was predicting the future in the virtual realm.  Of course, we all have tested virtual clothing in computer games way before Cattytay, but it was far from the fashion. Beggars can’t be choosers, as we say. These were jeans and shirts in the Sims and various armor in Shooters. But, no one could even imagine that in the near future, we would try on brand sneakers in a specially created application or that we would do it even for money, as it happened in March 2021 with the collaboration between Gucci and the Belarussian company Wanna. The first virtual sneakers could be

2022-02-26Deep Dive

Reported First Real Estate Purchase Made With Bitcoin in Chile

Remax Announces ‘First’ Real Estate Transaction With Cryptocurrency in Chile  The reported first real estate purchase made with cryptocurrency has happened in Chile. The announcement was made last week by Yuval Ben Haym, who is the regional manager of Remax, a real estate operator with activities at a worldwide level. Ben Haym informed that this purchase was completed last year, during November, and that the transaction secured a plot of land in Temuco, a southern city of Chile, for a customer.  Ben Haym was optimistic about the use of bitcoin and other cryptocurrencies as payment options in real estate, and announced they are open to accepting these kinds of currencies. He stated:  From this time to the future several properties will be able to be paid with this new means of payment.Bitcoin and Real Estate in Latam  Chile is just one of the Latam countries that has debuted bitcoin as a payment option available for properties and land. Prior to this report, several purchases of the same kind have been made in countries of the region. The first purchase was reported in Venezuela in August when an apartment was purchased with $12,000 worth of USDT.  Then, La Haus, a proptech company, informed of a real

2022-02-26Deep Dive

Bitcoin Donations Pour in to Help Ukrainian Military Fight Russia — Over $5 Million in BTC Raised

Crypto Donations Soar After Russia Invaded Ukraine  One of the largest non-governmental organizations (NGOs) providing support to Ukraines military, Come Back Alive, has received over $5 million in bitcoin donations after Russia launched a large-scale offensive against Ukraine.  Founded in 2014, the Kyiv-based group provides support to Ukrainian soldiers, including a range of military equipment, training services, and medical supplies.  Donations to the BTC address listed on the organizations website soared Thursday after Russia launched a full-scale military attack on Ukraine. At the time of writing, the wallet address has received 131.78144015 BTC.  An analysis of all the donations to the address shows that 2,207 donations totaling 126.04304091 BTC were received from Feb. 24 to late Feb. 25. At the current bitcoin price of $39,676.51 based on data from Bitcoin.com Markets, the donations received since Feb. 24 are worth more than $5 million.  In comparison, the wallet only received 1.60976481 BTC (76 donations) on Feb. 23, and 0.42272864 BTC (25 donations) on Feb. 22.  The chief scientist and co-founder of blockchain analytics platform Elliptic, Tom Robinson, tweeted Thursday:  Cryptocurrency donations in support of the Ukrainian armed forces are soaring.  “Cryptocurrency is increasingly being used to crowdfund war, with the tacit approval of governments,” he was quoted by CNBC

2022-02-26Deep Dive

Coinbase made $2.2 billion in revenue from transaction fees in Q4

The largest crypto trading platform in the U.S. has beaten analysts expectations by 27% in its Q4 earnings despite a broader slump in the crypto market.  Coinbases Q4 financial report vastly exceeded market expectations Thursday, after the firm posted $2.5 billion in net revenue for the quarter, beating analyst predictions by 27%.  FactSet consensus had forecasted Coinbase to generate approximately $1.9 billion in revenue for the period. Notably, the popular crypto exchange more than doubled transaction revenue from Q3 to Q4, generating 91% ($2.276 billion) of its total Q4 revenue from transactions alone.  Adding to investor confidence, the companys total transaction revenue for 2021 was a whopping $6.8 billion. Despite the report posting $840 million in net income and showing substantial growth from 7.4 million monthly transacting users (MTU) in Q3 to 11.4 million in Q4, COIN share prices fell 4.7% in postmarket trading, now down a total of 30% year-to-date.  It is also worth noting that $213 million, just 9% of Q4 revenue, was generated by non-trading products coming from other sources like lending and staking.  The US-based crypto platform stated that it has recently witnessed a drop in crypto market volatility and asset prices when compared to the all-time-high conditions of Q4, owing

2022-02-26Deep Dive

World’s first NFT vending machine arrives to New York City

Neon, an NFT marketplace and gallery built on Solana recently rolled out the worlds first NFT vending machine–located just off Wall Street in New York.  The machine operates 24/7 and facilitates NFT purchases with no cryptocurrency, crypto wallet, or specialized knowledge required. How does it work?  Located in the Big Apples financial district, the unique vending machine accepts USD credit and debit cards. Upon purchase, it allegedly dispenses a box containing a unique code for the chosen NFT, which can then be redeemed on the Neon platform.   “Our goal is to support artists and creators by letting them sell digital art to everyone, and to help anyone who wants to become a collector,” explained Jordan Birnholtz, CMO and co-founder of Neon, in an official press release.   According to Birnholtz:  “NFT buying and selling doesn‘t need to be a mystery and you shouldn’t be required to hold Ethereum, write a smart contract, pay gas costs or bridge blockchains to participate.”  The CMO elaborated that Neon wanted to “engage the widest possible audience,” which entails decoupling cryptocurrency from NFT participation.Allowing NFT artists to reach new collectors  “While only 2% of Americans have digital wallets, 80% have a credit card or debit card,” he argued, implying that there

2022-02-25Deep Dive

EU securities regulator recommends ban on proof-of-work crypto

European Securities and Markets Authority is concerned over the risks bitcoin mining poses to meeting climate change goals under the Paris agreement.  Erik Thedéen, the vice-chair of the watchdog, told the Financial Times in an interview that there has been a significant rise in the amount of renewable energy dedicated to crypto mining. He added that mining has become a “national issue” for his home country Sweden.  Thedéen also said that he is not advocating to ban crypto in general but recommending a ban on proof-of-work mining move the industry toward the proof-of-stake model, which consumes less energy overall.  Mining has become a huge business over the last decade and shows no sign of slowing down. Computing power dedicated to the industry reached record levels at the end of 2021, despite a wholesale ban on mining and crypto in China which was one of the biggest crypto markets in the world.  Proof-of-work vs. Proof-of-stake  Proof-of-work is the process through which a blockchain verifies blocks, or transactions, as being legitimate. Miners dedicate computing power to compete against each other to solve complex problems in order to verify transactions. In return, they are rewarded with coins.  The Proof-of-work model requires every participant on the blockchain to verify transactions,

2022-02-25Deep Dive

Cryptocurrency is the money of the future and is far superior to gold, Binance chief says

The total potential of blockchain has not but been realised, the founder and chief government of Binance, the worlds largest cryptocurrency alternate by buying and selling quantity, stated.  Blockchain, the expertise behind cryptocurrencies, holds the potential to supply functions which are “past our present creativeness”, Changpeng Zhao stated in Dubai on Thursday.  “Cryptocurrencies are the cash of the long run.”  Mr Zhao was talking throughout considered one of 9 Future Talks that Dubais Museum of the Future is internet hosting from February 24 to March 29.  The museum opened to the general public on Tuesday.  “It‘s a nice honour to be one of many first audio system within the Future Talks sequence and to witness first-hand the Museum of the Future … it’s actually implausible,” Mr Zhao stated.  After getting a few hundred million individuals utilizing cryptocurrency, you cant erase it  Changpeng Zhao, founder and chief government of Binance  “Blockchain has many new functions we had beforehand not even imagined, and its becoming to be speaking about cryptocurrencies right here, on the Museum of the Future, as cryptocurrencies are the cash of the long run.”  There was rising curiosity within the cryptocurrency market within the UAE as customers and buyers flock to digital property.  In December, Dubai World Commerce Centre

2022-02-25Deep Dive

New TrickBot Malware Variant Targets Customers of 60 Financial, Cryptocurrency and Technology Firms

Test Level Analysis (CPR) warned that TrickBot malware focused prospects of 60 monetary and know-how corporations, with most positioned within the U.S.  The researchers discovered that TrickBot attacked high-profile victims to steal account credentials and delicate knowledge for optimum impression. They discovered that the malware implements numerous anti-analysis methods to guard its logic from safety researchers.  Consisting of 20 modules which are independently downloadable and executable, the “very selective” TrickBot malware will be executed on demand. Having developed from a banking trojan, TrickBot grew to become a number one malware and a classy supply system able to deploying ransomware.  TrickBot efficiently rebuilt its infrastructure after the October 2020 regulation enforcement takedown and have become the popular supply system for Emotet botnet throughout its reconstruction effort. Judging from the telemetry knowledge obtained by CPR, TrickBot has contaminated not less than 140,000 units in 16 months.TrickBot malware anti-analysis and obfuscation options  The CPR crew analyzed TrickBot malware code samples and found that TrickBot operators have up to date the botnet with new anti-analysis options and anti-deobfuscation methods.  “We not solely see variants created primarily based on extra just lately profitable malware, however we even see risk actors use malware thats even twenty years previous to generate new

2022-02-25Deep Dive

Warren Buffett Warned Against Holding Cash, Gold, Bitcoin During Wars

Warren Buffett has warned in opposition to dumping shares, hoarding money, and shopping for gold or bitcoin when struggle breaks out, as he believes investing in companies is one of the simplest ways to construct wealth over time.  The billionaire investor and Berkshire Hathaway CEO told CNBC in March 2014 that Russias invasion of Ukraine on the time would not spur him to promote any shares.  “If shares are cheaper, I will be extra more likely to be shopping for them,” he mentioned, celebrating the truth that a inventory he was actively shopping for had dropped in value. The investor added that he would not money out even when the battle escalated into one other chilly struggle or World Warfare III.  “Properly, if you happen to inform me all of that‘s going to occur, I’ll nonetheless be shopping for the inventory,” he mentioned. You are going to make investments your cash in one thing over time. The one factor you could possibly be fairly certain of is that if we went into some very main struggle, the worth of cash would go down.  “I imply, that is occurred in nearly each struggle that I am conscious of,” Buffett continued. “So the very last thing

2022-02-25Deep Dive

Ukraine Blocks Issuance of Digital Money Amid Martial Law

Ukraines central bank has temporarily prohibited the issuance of new electronic money and the topping up of digital cash wallets.  Ukrainian Government Restricts Digital Money Supply  Per a Thursday announcement, Ukraine‘s central bank has suspended the country’s electronic currency markets. This news comes after the Ukrainian president Volodymyr Zelensky imposed martial law in the country following the invasion of Russian forces earlier today.  The National Bank of Ukraine implemented new rules this morning, including an order to suspend e-money issuers, stop the replenishment of e-wallets with e-money, and halt distribution of e-money to e-money issuing banks. E-money refers to digital fiat cash used with various payment and traditional banking applications.  While it is not clear why the central bank curbed e-money issuance, it may likely be a prudent step to safeguard Ukraines financial systems from any cyber-attacks and prevent capital outflows amid the crisis. Notably, the order did not mention cryptocurrencies, which are classed as “virtual assets” under Ukrainian law. However, the reasons why the Ukrainian central bank has placed restrictions on e-money likely also apply to crypto assets.  Russias military invasion of Ukraine has negatively impacted global markets, including the crypto sector, which has seen more than $200 billion in value wiped Thursday. Meanwhile,

2022-02-25Deep Dive
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