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Bringing Together NFTs, Sustainability and Music With OneOf CEO Lin Dai

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BeinCrypto spoke to Lin Dai, CEO and co-founder of OneOf. The platform aims to transition music ownership and sharing into the future with its unique “green” non-fungible token (NFT) offerings.

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NFTs are no longer a fad or a hype. Rather, they have cemented themselves as a bona fide part of the future of blockchain products.

While most NFTs revolve around art, music is not far behind. This industry is catching up and benefiting from this new tokenization strategy.

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However, since most NFT marketplaces are geared towards digital artists, Dai saw the opportunity to build a platform dedicated to musicians and fans. This has come together in the form of OneOf.

All leading up to this

Dai is no stranger to the tech world. His background stretches back years before behemoths like Facebook. He started his own tech startup out of his dorm room, a social media site for teenagers.

“That was a really fun, exciting experience building your first company out of your dorm. I ended up working also at major media companies…developing a digital business. About six years ago, I met up with the VC Bill Tai, who became one of my mentors. We were talking about the blockchain use case for the music and entertainment industry because that’s my background,” he explains.

“I ended up building a B2B marketing software company that was building some early projects for companies like Warner Music Group, Uber and also Brave Browser.”

Finally, about two years ago, Dai and Tai ran into each other. Both were at a charity dinner for ocean conservation, where they began chatting about CryptoKitties. This early NFT iteration piqued Dai’s interest in the value of secondary royalties and ownership.

“We started working on this as early as two and a half years ago. This eventually led to the OneOf idea of applying NFT technology to the music and entertainment industry,” he explains.

“I feel like everything else I did in my life and career all led up to this project. This is the perfect combination of all my media entertainment experience plus technology experience.”

Focusing on OneOf’s sustainability

OneOf’s focus is on expanding the relationship between fans and artists.

“We’re building an ecosystem around NFTs, that is for the music artists. They can issue any type of entities, whether it’s their music, their artwork or getting gamified pieces or experiences, and have a way to directly conduct these one-on-one transactions with the fans.”

The initiation of Dai’s journey to OneOf taking place, in part, at a charity event for ocean conservation is not just a simple coincidence.

Rather, OneOf is built not only for the music industry but also as a sustainable, green platform.

“We ended up building our platform on top of the Tezos blockchain as it’s 2 million times more energy-efficient than the primary solution out there today, which is a platform built on top of the Ethereum blockchain,” he explains.

“That’s a huge issue for music artists. 99% of all music artists care about the environment a lot. The other 1%, even if they’re ambivalent, they don’t want their fan base to turn on them and can’t afford not care about the environment. So, being green is not a nice to have, it’s a prerequisite for being able to provide the services for the music community in an authentic way.”

In addition to the high price for the environment, Dai explains that they wanted their platform to be accessible to all music fans. Rather than just those who can pay top dollar. To make this happen, Ethereum wasn’t an option.

“We want artists to be able to sell their NFTs for $5 or $1 or $10. So that’s impossible on AWS or on the Ethereum blockchain. The average minting cost is $150, sometimes as high as $400 to create an NFT. This means artists will have to basically price their NFT for hundreds if not thousands of dollars,” he says.

“We are striving for a frictionless ability for artists and fans to connect without this economic barrier.”

Big names and emerging artists on OneOf

In addition to being accessible to fans, OneOf is aiming to democratize the NFT space for artists. Rather than serving as a platform for big names only, Dai explains that there is also an emerging artists programme.

“We announced about a dozen major, major artists. So those are certainly headline-grabbing from Whitney Houston to Doja Cat to John Legend to Alesso,” he says.

“Our emerging artist’s programme is not a small programme but it’s the actual core of what we do and where the majority, we think, of our transactions will come from.”

The platform works directly with emerging artists to curate different sections and guide them in minting their NFTs, from music to images and videos.

“This is the power of what we want to do. Really bring to the attention to the players, the next big thing. Not only serving hundreds of independent or emerging artists, we want to serve millions of them. So the platform is built in a way where that is the goal.”

“Our platform is built for fans”

Much like crypto and blockchain might be new for emerging artists. Dai also expresses his platform’s interest in bringing the fans to this technology as well.

“Our platform is built for fans and for the super technical crypto people. So we made some deliberate design choices to optimise the experience for the non-crypto native people,” he explains.

Access and understanding is a well-known issue for cryptocurrencies. Crypto platforms are often seen as complicated and unfriendly, with user experiences that are not yet streamlined.

“Like, how do we allow a 14-year-old fan that never touched crypto before to be able to sign up and complete a purchase, and be able to start enjoying their NFT or show off their NFT, all within three minutes. So that’s the entire goal for our UI.”

As such, the platform operates similarly to a standard e-commerce site. Users can choose to purchase the NFTs with crypto, debit card or credit card. Dai says that users have a choice of 135 different fiat currencies to pay from.

However, crypto die-hards aren’t left out with ethereum, bitcoin and a variety of stablecoins all on the table as well.

“So the idea is to be a very inclusive platform. So it doesn’t matter if you don’t know crypto at all or you’re a fan of bitcoin or ethereum, you’re all welcome on our platform.”

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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After working in news and lifestyle journalism, Leila decided to bring her interest in cryptocurrencies and blockchain to her day job. She now runs the Features and Opinions desk at BeinCrypto which fits perfectly with her enthusiasm for crypto’s social and political impact.

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Source: https://beincrypto.com/bringing-together-nfts-sustainability-and-music-with-oneof-ceo-lin-dai/

Blockchain

CFTC Examining Possible Insider Trading at Binance: Bloomberg

CFTC Examining Possible Insider Trading at Binance: Bloomberg

Rate this post The U.S. Commodities Futures Trading Commission (CFTC) has expanded the scope of its investigations into Binance to include possible insider trading at the exchange. CFTC Expands Investigation into Binance over Insider Trading Binance, which was already being probed for selling Bitcoin-related derivates in the U.S., is now facing an inquiry over insider trading, according to a report from Bloomberg. The report states that the CFTC has been reaching out to witnesses in recent weeks for more information on the matter.  As the world’s largest cryptocurrency exchange, Binance sees transactions worth billions every day. That also provides the company with privileged information about transactions, which is being questioned by the regulators.  For its part, the company stated that it has a “zero-tolerance” policy and a “strict ethical code” to prevent misconduct that could harm its customers.  “At Binance, we have a zero-tolerance policy for insider trading and a strict ethical code related to any type of behavior that could have a negative impact on our customers or industry,” a Binance spokesperson said. Binance’s regulatory woes in the U.S. extend beyond the CFTC investigation. The Department of Justice (DOJ) and the Internal Revenue Service (IRS) are also scanning the exchange for any links to money laundering and tax evasion in the country. Binance’s Continued Regulatory Headache Regulatory compliance has been an ongoing issue at Binance. The company’s founder and CEO Changpeng Zhao, also known as CZ, believes that there has been a “hyper-focus on regulation when it comes to Binance.” So far, the company has received official warnings in the UK, Japan, Cayman Islands, Hong Kong, Malaysia, and Thailand.  To counter scrutiny, the company has hired several former regulators and introduced mandatory know-your-customer (KYC) requirements for all its users. Just last month, Binance announced that it has hired Greg Monahan, former U.S. Treasury Criminal Investigator, as its Global Money Laundering Reporting Officer (GMLRO).

The post CFTC Examining Possible Insider Trading at Binance: Bloomberg appeared first on Cryptoknowmics-Crypto News and Media Platform.

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The U.S. Commodities Futures Trading Commission (CFTC) has expanded the scope of its investigations into Binance to include possible insider trading at the exchange.

CFTC Expands Investigation into Binance over Insider Trading

Binance, which was already being probed for selling Bitcoin-related derivates in the U.S., is now facing an inquiry over insider trading, according to a report from Bloomberg.

The report states that the CFTC has been reaching out to witnesses in recent weeks for more information on the matter. 

As the world’s largest cryptocurrency exchange, Binance sees transactions worth billions every day. That also provides the company with privileged information about transactions, which is being questioned by the regulators. 

For its part, the company stated that it has a “zero-tolerance” policy and a “strict ethical code” to prevent misconduct that could harm its customers. 

“At Binance, we have a zero-tolerance policy for insider trading and a strict ethical code related to any type of behavior that could have a negative impact on our customers or industry,” a Binance spokesperson said.

Binance’s regulatory woes in the U.S. extend beyond the CFTC investigation. The Department of Justice (DOJ) and the Internal Revenue Service (IRS) are also scanning the exchange for any links to money laundering and tax evasion in the country.

Binance’s Continued Regulatory Headache

Regulatory compliance has been an ongoing issue at Binance. The company’s founder and CEO Changpeng Zhao, also known as CZ, believes that there has been a “hyper-focus on regulation when it comes to Binance.”

So far, the company has received official warnings in the UK, Japan, Cayman Islands, Hong Kong, Malaysia, and Thailand. 

To counter scrutiny, the company has hired several former regulators and introduced mandatory know-your-customer (KYC) requirements for all its users. Just last month, Binance announced that it has hired Greg Monahan, former U.S. Treasury Criminal Investigator, as its Global Money Laundering Reporting Officer (GMLRO).

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Source: https://www.cryptoknowmics.com/news/cftc-examining-possible-insider-trading-at-binance/

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Blockchain

QTUM Technical Analysis: Price to Look for Support Near $10.31

QTUM Technical Analysis: Price to Look for Support Near $10.31

Rate this post QTUM is another decentralized platform that transfers smart contracts. It uses the Proof-of-Stake (PoS) consensus, which means the node operators are rewarded for validating transactions. Moreover, it is a DGP governed blockchain. Let us look at the technical analysis of QTUM. Past Performance On September 11, 2021, QTUM opened at $12.78. On September 17, 2021, QTUM closed at $12.50. Thus, in the past week, the QTUM price has decreased by approximately 2%. In the last 24 hours, QTUM has traded between $12.30-$13.07. https://www.tradingview.com/x/JHAWkjFs/ QTUM Technical Analysis At the time of press, the price is at $12.27, which is near its long-term support level. Moreover, the token is currently forming its base between the range of $15.29 and $10.08. A break-out or a break-down from this range will decide the future of QTUM. Till then, let us have a look at what the indicators are indicating; The MACD and signal lines are in the positive range, thus, suggesting a buy signal. However, a bearish crossover by the MACD line over the Signal line has occurred. Thus, being the lagging indicator, we will have to wait and watch if the trend reversal is on the horizon or not. Currently, the RSI indicator is at 51%. It is constantly facing rejection at the 44% mark and currently, is taking constant support at the 45% mark. Thus, selling pressures are slowly mounting. We have to wait and watch if it becomes strong enough to bring about a bullish trend reversal. Until then, we can assume it will bounce back from this level. On the daily chart, the OBV indicator has broken its long-term downtrend and picked an upward trajectory. Thus, buying volumes are higher than selling volumes. In short, when we look at all three oscillators, we can say that the price may continue to rise. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend. Day-Ahead and Tomorrow Currently, the price is below the second Fibonacci pivot point of $15.03. If the bears take over from this position, then the price is likely to fall below the first, second, and third support levels of $12.21, $11.28, and $10.31, respectively. However, chances of it breaking out are higher. Thus, we can wait for another bull trigger and then expect the price to breakout. Post which, the price will test resistance at $14.35. If the price breaks this level on the upside, traders can take a long position, keeping the next target at $15.53.

The post QTUM Technical Analysis: Price to Look for Support Near $10.31 appeared first on Cryptoknowmics-Crypto News and Media Platform.

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QTUM is another decentralized platform that transfers smart contracts. It uses the Proof-of-Stake (PoS) consensus, which means the node operators are rewarded for validating transactions. Moreover, it is a DGP governed blockchain. Let us look at the technical analysis of QTUM.

Past Performance

On September 11, 2021, QTUM opened at $12.78. On September 17, 2021, QTUM closed at $12.50. Thus, in the past week, the QTUM price has decreased by approximately 2%. In the last 24 hours, QTUM has traded between $12.30-$13.07.

TradingView Chart

QTUM Technical Analysis

At the time of press, the price is at $12.27, which is near its long-term support level. Moreover, the token is currently forming its base between the range of $15.29 and $10.08. A break-out or a break-down from this range will decide the future of QTUM. Till then, let us have a look at what the indicators are indicating;

The MACD and signal lines are in the positive range, thus, suggesting a buy signal. However, a bearish crossover by the MACD line over the Signal line has occurred. Thus, being the lagging indicator, we will have to wait and watch if the trend reversal is on the horizon or not.

Currently, the RSI indicator is at 51%. It is constantly facing rejection at the 44% mark and currently, is taking constant support at the 45% mark. Thus, selling pressures are slowly mounting. We have to wait and watch if it becomes strong enough to bring about a bullish trend reversal. Until then, we can assume it will bounce back from this level.

On the daily chart, the OBV indicator has broken its long-term downtrend and picked an upward trajectory. Thus, buying volumes are higher than selling volumes.

In short, when we look at all three oscillators, we can say that the price may continue to rise. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend.

Day-Ahead and Tomorrow

Currently, the price is below the second Fibonacci pivot point of $15.03. If the bears take over from this position, then the price is likely to fall below the first, second, and third support levels of $12.21, $11.28, and $10.31, respectively.

However, chances of it breaking out are higher. Thus, we can wait for another bull trigger and then expect the price to breakout. Post which, the price will test resistance at $14.35. If the price breaks this level on the upside, traders can take a long position, keeping the next target at $15.53.

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Source: https://www.cryptoknowmics.com/news/qtum-technical-analysis-price-to-look-for-support-near-10-31/

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News

Uniswap in a False Breakout, Resumes Downward Correction

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Sep 18, 2021 at 10:40 // News

The price of UNI is trying to move back up

The price of Uniswap (UNI) has fallen into the downtrend zone as the price reached the low of $25.08. As the price breaks below the moving averages, there is a likelihood of further downward movement in the price.

Today, the price of UNI is trying to move back up and reach the earlier high of $28. It is a difficult task for the buyers to regain the previous high of $28 as the altcoin is facing another rejection at $25.18. If the altcoin gets rejected at the recent high, the market will fall back to the low of $22. However, the uptrend will resume if the price finds support above $22. The $22 support has held in the price action so far. For the cryptocurrency to resume its upward momentum, buyers need UNI to hold above the moving averages.

Uniswap indicator reading

The altcoin is at level 47 of the Relative Strength Index for period 14. The cryptocurrency is in the downtrend zone and below the midline 50. The price of the crypto is below the moving averages, indicating a possible downward movement of the altcoin. UNI is above the 25% range of the daily stochastic. The cryptocurrency is in bullish momentum but faces rejection at the recent high.

UNIUSD(_Daily_Chart)_-_SEPT._18.png

Technical indicators:

Major Resistance Levels – $55.00 and $57.00

Major Support Levels – $22.00 and $20.00

What is the next direction for Uniswap

According to the 4-hour chart, the price of Uniswap (UNI) continues to be in a downward correction. The cryptocurrency is hovering between the $22 and $25 levels, having broken through the $25 resistance. The selling pressure is pushing the altcoin back into the range bound zone. Today, the bulls are retesting the resistance to break it. It is likely that altcoin will continue its downward correction.

UNIUSD(4_Hour_Chart)_-SEPT.18.png

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coin Idol. Readers should do their own research before investing funds.

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Source: https://coinidol.com/uniswap-false-breakout/

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