Last year, a physical Elon Musk-signed Tesla Model X toy car was minted as a non-fungible token (NFT) and put up for auction on OpenSea. The auction didn’t turn out to be very successful (probably because it wasn’t an official release made by Tesla), but this caused some car fans to wonder: will NFTs get into the automotive market someday?
Look around you, and I’m sure you’ll find at least one person who is either into Korean pop music (K-pop) or Korean dramas (K-dramas). The popularity of Korean cultural products, be it music, TV shows, fashion or skincare, is called the Hallyu (Chinese term for the word Korean) wave. Hallyu wave’s acclaim has had a positive impact on the South Korean economy, with boy band BTS contributing US$3.6 billion to the country’s economy all by themselves.
One of the problems that the blockchain industry has been facing for a long time is the blockchain trilemma. The blockchain trilemma (also called the scalability trilemma) is the belief that decentralized platforms can only accomplish two out of the following three goals—security, scalability and decentralization—at a time.
At this point, most of our readers would be familiar with the concept of a decentralized autonomous organization (DAO). But for those who need a quick refresher, DAOs are internet communities set up on the blockchain with no central governing body and where members act in the interest of the group. You can invest in and become a member through purchasing their crypto tokens.
If you look at crypto communities online, be it on Twitter or Telegram or Reddit, you’ll find them to be largely made up of men. If asked to visualize the crypto community, everyone would picture a crypto bro (men who are singularly focused on cryptocurrency predictions) discussing which currency will go “to the moon” next. In fact, 94% of all cryptocurrency is owned by men, which means that women occupy only 6% of all crypto holdings.
Cryptocurrency is an extremely volatile and turbulent asset, especially owing to its immensely speculative nature. Investors use a variety of means to gauge cryptocurrencies’ price movement in order to determine future crypto asset performance, including social media sentiment and indices.
In August 2021, a collection of 10,000 anime-inspired non-fungible tokens (NFTs) called “Milady Maker” entered the market. The project was the brainchild of crypto-based business Remilia Collective.
When you are lost on the street, you probably will use your phone and check your favourite navigation app to find the correct route. The whole process is so effortless that you may not realize how sophisticated it is to capture the entire street view in 3D and display it on the 2D screen of your mobile phone.
The price of Bitcoin has risen since its arrival on the crypto market in 2009. Despite recent volatility, the price of a single Bitcoin is still a staggering US$24,130 as of August 8, 2022. Given the value of Bitcoin, it is no wonder that many professionals and amateur investors are eager to tap into the burgeoning market.
Central banks worldwide are exploring ways to issue their digital currency, also known as central bank digital currencies (CBDCs). In a report released in January 2020, the Bank for International Settlements (BIS) surveyed 66 central banks and found that 80 percent were developing CBDCs.
In December 2021, a new contender entered the cryptocurrency market. Going by the name PLC Ultima (PLCU), the currency was just valued at US$0.10 when it first came into existence. To put this into perspective, 6000 cryptocurrencies had been launched in 2021, taking the total number of cryptos in the market from 10,000 to 16,000.
The dark side of the non-fungible tokens (NFTs) market started to reveal itself after NFTs became mainstream last year. Previously, we have explored how the NFT marketplace is riddled with scams, such as artist impersonations and insider trading. Not only have such hoaxes become a big issue for buyers hoping to get their hands on genuine artist works but also for the artists themselves.
After making it to the mainstream during the pandemic, non-fungible tokens (NFTs) seem to be everywhere. If you go onto some well-known NFT marketplaces, such as OpenSea and Crypto.com, you can easily find all sorts of NFTs in their dropdown menus, ranging from art, memes and music to photography and sports for purchase or rental. Lately, the NFT market has even welcomed wine NFTs to the space.
The Bitcoin 2022 conference, hosted by Bitcoin Inc. at The Miami Beach Convention Center in Florida in the U.S. in April, was embroiled in controversy as various cases of harassment emerged from the three-day cryptocurrency event. Several women have come forward with claims of sexual and cyber harassment in the aftermath of the conference.
From over 200,000 in September 2021 to just about 20,000 in May 2022—NFT sales have taken a significant hit, falling by 92 percent worldwide. Though the space is familiar with instability, this time, it appears to be more worrying than usual. NFTs are data-driven digital tokens representing ownership stored on a blockchain. From music and art to films and more, nearly anything can be an NFT.
By 2030, more than 134 million tons of textiles will be discarded. Yet, the environmental issues and impacts brought about by the textile industry tend to come across as abstract and far away, especially to those living in more developed regions away from manufacturing plants. The reason is simple—out of sight, out of mind.