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What You Can Learn from the late Appster’s Lead Generation Process [Even Though Appster Went Bust]

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NFTs: How Licensing Technology Furthers Art’s Revolution

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Humans have always loved making and displaying art. Deep within a cave in modern-day Spain lies a Neanderthal hand stencil that scientists have radiocarbon dated to 64,000 years – it’s the oldest known example of art anywhere in the world. 

Over the past 60,000 years, human creative expression has expanded into a plethora of mediums, styles, techniques and capabilities. One of the newer mediums is digital art: creative content that exists as a computer file and can be shared readily on the internet. In the past year, digital art has made headlines from the jaw-dropping sums raised at auctions; sums that could only have been raised using non-fungible tokens (NFTs). 

A Beeple piece sold at Christies earlier this month for nearly $70 million by using an NFT; Twitter founder Jack Dorsey raised $2.9 million for charity by auctioning off his first ever tweet with an NFT. CryptoPunks, 24×24 pixel digital images and one of the first examples of an NFT, now regularly sell for anywhere between $30,000 and $100,000 – one even went for more than $1 million recently. Established artists are now moving in on the game. American DJ 3LAU raised over $11 million selling revenue rights to his new album, and incidentally, played at Kraken’s virtual holiday party in Decentraland – a NFT-based virtual reality platform. Market activity may have lulled slightly since the freneticism of late February, but it was still worth more than $33 million in the last week of March. Damien Hirst, one of the world’s most famous artists, has revealed plans for his own NFT project, which was still shrouded in mystery at the time of writing.

We talk about what NFTs are in detail here in our Kraken Learn Center, but at a very high level, they’re a type of virtual token that lives on a blockchain and includes a computer file for digital trading cards, in-game items, audio clips or artworks. Like bitcoin, they can be traded online or stored in a cold wallet. Unlike bitcoin, each NFT token is a unique asset and digital. Each token represents and confers ownership rights to a particular piece of digital creative content. 

So if you boil down what an NFT really is, it’s just a form of licensing technology that allows owners of, say, digital artwork, to exercise their proprietorial rights online. But that’s still a very significant innovation. 

Here’s why:

Artists and content creators can use the internet to distribute their work at a scale unimaginable thirty years ago. Rather than being obligated to go through galleries or record labels, many digital artists have been able to freely share their work directly with the public. Sound familiar? Long before cryptocurrencies, the internet was the original “middlemen cutter.” It overhauled the very way in which human creative expression was disseminated. A particular piece of artwork can be shared thousands of times on social media long before it’s ever heard of by an art critic. Similarly, a piece of music can be played on the radio long after it first went viral on YouTube or SoundCloud. Content creators can harness the power of the internet to speak directly to people, not just in their own towns, cities or countries, but to disparate global communities. 

But the internet has also proven to be a double edged sword. Up until very recently, a piece of art or a music sample shared online effectively, if not legally, entered the public domain. Anyone with access to the internet could easily copy and download computer files of a picture that they liked, or of a song that they wanted to listen to again. Ownership was difficult to enforce, leaving content creators, even highly successful ones, struggling to properly monetize their work. What made the internet highly effective as a tool for sharing has also made it abysmal as a means for artists to make a living. The only solution so far has been to bring middlemen back into the picture, who keep access exclusive, and profitable, with paywalls and subscriptions. Some of these platforms take bigger cuts than the content creator themselves. 

Now with NFTs, artists can, for the very first time, assert rights of ownership over their digital work. The beauty of an NFT is it doesn’t preclude anyone from viewing or enjoying a piece of content online – they can download their favourite digital artworks to use as screensavers as much as they want – but they don’t own it. It’s a little bit like owning a famous painting; everyone knows what it looks like, and they can view it online, but the only one with any rights of ownership is the person with the right documentation – the right licensing.

The Beeple, It Sold for $69 MillionA NFT basically converts this dynamic over from the traditional art market to digital content. The art world is fuelled by investors hunting for alternative stores of value – indeed, art is one of the most effective wealth preservers in the world. While this has historically been restricted to physical art, the introduction of enforceable ownership rights for digital art, as well as other online creations such as in-game items or audio clips, means these can now be purchased by investors. NFT’s derive their value from the fact they offer a verifiable and fraud-proof connection  between the holder and the artist. The individual who spent $70 million on a Beeple no doubt appreciates the artwork itself, but they also see it as an investment; they bought it thinking the market’s appreciation for Beeple’s work will rise over time, preserving and increasing the value of their initial investment. Similarly, the basketball fan who spent $208,000 on a digital trading card linked to LeBron James on NBA Top Shots hopes to see, if not realize, a return on their investment.

The internet has provided content creators with a platform that allows them to enhance their profile by sharing their work freely online. It is now allowing them to attract the attention of investors interested in gaining direct exposure to digital creative output through purchasing and holding onto an NFT. The original content creator may need to clear a learning curve of what an NFT actually is and how it all works on a blockchain, but the infrastructure is quickly being built to make it even easier from a technical standpoint. 

Indeed, there are already multiple websites that can mint NFTs in a matter of minutes without the artist having to write a single line of code. New NFT exchanges allow NFT owners to sell on again to interested parties. Platforms like OpenSea and Rariable have facilitated tens of millions of dollars in secondary market trading for high-demand tokens. While minting an NFT directly on Ethereum can cost upwards of $100, scaling solutions such as FLOW, which Kraken lists, make the process more seamless so NFTs can be more accessible. Some content creators are beginning to experiment with baking specific conditions into their NFTs, such as the right to earn commissions on future sales of their art in the secondary market. 

For the content creator, NFTs represent a highly lucrative proposition. The internet has been the catalyst for a Cambrian explosion in forms and styles; the last thirty years have been one long revolution in the creative arts. The only thing that was holding back further innovation and progress was the absence of revenue. NFTs directly address this. They enable individuals to earn the rewards they deserve from the content they create and share online. How the NFT tale ends is still too hard to tell, but it is likely the next exciting chapter in a story that began thousands of years ago in a Spanish cave. NFTs will undoubtedly be a part of the digital asset space to watch closely in the months and years to come.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.kraken.com/post/8473/nfts-how-licensing-technology-furthers-arts-revolution/

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Blockchain

Meet The Kraken Bank Executive Team: COO Michael Giorgio

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When is the last time a bank put customer needs, security and open access to all first?

David Kinitsky, Kraken Bank CEO, outlined eight reasons why consumers need a customized banking structure that modernizes the products and services we all utilize on a daily basis.

To design the blockchain-based system that will be “more secure than traditional payment processing technologies,” Michael Giorgio was brought on as Chief Operating Officer of Kraken Bank where he will spearhead a forward-thinking team.

Last September when we first announced Kraken Bank, the Wyoming legislature had provided a pioneer framework to reimagine financial services. Michael sees that framework empowering his vision to “provide an additional level of comfort and safety for our customers.” 

For the better part of the past two decades, Michael has built and led teams at commercial banks including Metropolitan Commercial Bank, Laurel Road Bank, Savings Bank of Danbury, Connex Credit Union and Quorum Federal Credit Union. 

Through that work, Michael discovered the limitations of the traditional financial services system. Digital assets captured his imagination and he recognized that Kraken Bank could actualize the potential of this technology.

Michael and the team are currently building out the Kraken Bank infrastructure as well as ensuring all of the necessary regulatory approvals are in place. A smooth transition for all clients and a safe experience for all customers is our first priority. 

Please enjoy the following interview!

You’ve worked at community banks for nearly 20 years. What do you think works about the current system? What are some areas that need improvement? What do you think prepares you for this opportunity? 

One of the biggest challenges that banks face today is the continued use of legacy technology stacks, in particular their core banking platform. It’s clunky for the staff to use, the UI lacks customization and integration with third party or custom build systems is less than ideal.

This becomes a major expense in maintenance and support just to “keep the lights on.”  

I have learned that in order to be successful, carefully architecting a newer technology stack (API’s, custom configuration, open banking e.t.c.) becomes a key area of focus. The regulatory burden faced by many organizations only continues to increase. By keeping technology operating maintenance costs down allows you to remain competitive and profitable.

What attracted you to the cryptocurrency industry?

I think the inherent security and decentralized processing built into blockchain technology can potentially become more secure than traditional payment processing technologies.

Put simply, cryptocurrency is the future. Within traditional banking, I didn’t see as many opportunities to offer unique products and services to my clients. Now, I’ve stepped into a new world that is looking to bridge the gap between traditional and non-traditional financial products. It’s incredibly interesting to me. Even in recent months, you can see how relevant and mainstream cryptocurrency is becoming with major companies taking large investment positions in assets like Bitcoin.

What do you think is the simplest and quickest way to explain cryptocurrency to an acquaintance that knows little about them?

Cryptocurrency is a global form of money that can be exchanged for goods and services and has the same value wherever you are. It gives you the freedom to send and receive money peer-to-peer without government intervention. Simply put, it’s digital money without the need of a centralized authority. 

Cryptocurrencies are non-sovereign and reduce settlement times from days down to minutes. They allow for cross-border transactions without the need to involve costly intermediaries for conversion or transaction. Most of all, it is auditable. When you utilize a reputable exchange, you can verify and backtrack the origins as well as destination of the money.  

Give the audience your elevator pitch – why should people join Kraken and embrace crypto asset banking?

Globally, Kraken has nearly 7 million clients and has been running a reputable and secure exchange for more than 10 years. We are a company that continues to evolve and stay apprised of an ever-changing landscape to protect your hard earned assets and your confidential information. Security is our culture. Couple this with our seasoned client experience reps and you’ll find we are truly a best-in-class digital asset exchange provider.  

Kraken Bank will provide a simplistic on- and off-ramp from traditional fiat to digital currency positioning us as the most well-rounded financial services provider in the marketplace. Banks are heavily regulated at both a state and federal level; the oversight and risk management framework built into our bank to comply with state/federal law will provide an additional level of comfort/safety for our customers.

What are your thoughts on the regulatory framework around cryptocurrencies?  

We are pleased to work within a regulated environment; I come from traditional banking where adhering to state and federal regulations are in practice to protect our most valuable asset, our clients. In my opinion, regulation will help scale adoption especially with institutions that need that compliance framework and with people who are still on the fence about crypto. When someone wants to learn more about this new space, a strong regulatory framework projects confidence for consumers and institutions. Embracing the framework around digital assets will only help continue to propel its trajectory. To the moon!

To get the latest updates on Kraken Bank, sign up here.

Want to help? Kraken and Kraken Bank are actively hiring, with new jobs posted periodically on the company’s careers page.  If you don’t see a role at the bank that’s right for you today, stay tuned for more listings soon!

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://blog.kraken.com/post/8317/meet-the-kraken-bank-executive-team-coo-michael-giorgio/

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Cast Your Spell On Richy Witchy At BitStarz Casino

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Cast Your Spell On Richy Witchy At BitStarz Casino

It seems like spooky slots are seriously back in fashion at BitStarz casino. Partnering with Platipus Gaming to bring players the latest in bewitching slot machines, BitStarz is delighting players with Richy Witchy. 

Richy Witchy is a 5 reel, high volatility slot with major features and fantastic gameplay. You’ll find all of the usual witch accoutrements on these reels, including mushrooms, black cats, and much more. The graphics are as fun as they are exciting, and you’re sure to be spooked from start to finish. 

Score extra Wilds, free spins, and much more as part of this epic slot, which boasts a maximum payout of 204,000 EUR. The maximum win multiplier you’ll receive is 850x your stake, which is pretty decent. 

Overall, Richy Witchy is another fantastic slot to be added to the BitStarz line-up – so don’t miss out! 

Want to learn more about BitStarz? Check out our BitStarz casino review.

Visit BitStarz

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinchaser.com/richy-witchy-at-bitstarz/

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