Imagine Facebook, but without Mark Zuckerberg at its helm—sounds relieving, right? Well, that’s the concept of decentralized applications, or dApps. They are apps—akin to those on your phone—but without a single authority or entity controlling them. Today, there are approximately 4,000 dApps, with most of them existing on Ethereum. What’s more? Since October 2021, between 60 and 70 dApps have been launched every month.
The internet has always been a way for people with niche interests to find like-minded people. One of the communities that has thrived on the internet is the anime and manga community.
For those of you who may not know, “anime” means animation in Japanese. In English, it refers to Japanese animated content. “Manga” is the Japanese word for comics, and manga often serves as inspiration for anime series.
About 60 percent of American and UK-based video game developers have started using blockchain technology. For them, the scope of innovation and real-world value offered by “play-to-earn” crypto games—absent in traditional video games—enhances their appeal. Players, too, have been enjoying the chance to earn money while playing video games.
From being named word of the year to becoming a romantic Valentine’s Day gift idea, NFTs have become more and more mainstream in the past year.
Non-fungible tokens (NFTs) have experienced an explosion in popularity in the past year. Sales volumes for NFTs increased from US$94.9 million in 2020 to US$24.9 billion in 2021. Be it through purchases of Apes or Cryptopunks, people have been actively diving into the NFT trend.
With NFT (or non-fungible token) becoming Collins Dictionary’s word of the year in 2021, their growing popularity and impact are hard to ignore. From Bored Apes to CryptoPunks, the past year has been huge for the growth of NFTs. In fact, we saw celebrities, like BTS, Shawn Mendes and Snoop Dogg, coming out with their own NFTs as well.
The cryptocurrency market has been thriving all through 2021. As per the Bloomberg Galaxy Crypto Index, the cryptocurrency market grew by 160% in 2021, which is much higher than the growth that conventional assets saw in the past year.
Valentine’s Day has rolled around again this year, and with it, the question of what to give your significant other is a headscratcher for almost everyone. It’s hard to be creative every year, isn’t it? Well, this year, we have the solution to your problem. Instead of gifting your partner with flowers that will wither after a couple of days or chocolates that will last a week, you can give them a present that will be preserved forever on the blockchain and that is, non-fungible tokens (NFTs).
Cryptocurrency has been changing the traditional banking system. In fact, recently, during the Indian budget meeting on February 1, 2022, the Finance Minister, Nirmala Sitharaman, proposed a 30 percent tax on income earned from digital assets. While it may seem like a significant amount, the move shows that the country has recognized cryptocurrency as a financial asset that affects the economy.
If the idea of a first date in real life makes you want to curl up in a corner and call it a day, perhaps it’s time to take your dates into a parallel universe: the metaverse.
Imagine this: you’ve got a date (you rock star!). But instead of finding the right outfit, texting your friends about what a terrible idea this is and feeling nauseous, you are chilling in your sweats. No, really.
Lo and behold, cryptocurrency has—more or less—entered the mainstream. Whether you want to trade non-fungible tokens (NFTs) or order food, you can pay in cryptocurrency. However, paying using cryptocurrency is not so straightforward. When making a transaction on the Ethereum blockchain, users are required to pay gas fees.
As we get closer and closer to the future of the internet (a.k.a. Web 3.0), the “realities”, besides the one we are used to, are becoming more commonplace. Be it the Nth floor of Accenture or virtual property tours, the different kinds of “realities” can help businesses thrive.
On January 13, 2022, virtual metaverse and mobile game The Sandbox hosted a Mega City LAND sale. Managing Director of Greater China at The Sandbox, Harvey Tsoi, discloses with no air of surprise, “The land was sold within seconds.” And why wouldn’t it be when there’s an opportunity to live next door, at least virtually, to your favorite celebrities, like Snoop Dogg, the Smurfs, The Walking Dead and more? Besides renowned creators, The Sandbox also brings entrepreneurs closer to better business opportunities.
As of December 2021, the global crypto market capitalization reached US$2 trillion. While this US$2 trillion market has made many billionaires, not all of us have been lucky enough to cash in on the crypto boom.
If you’ve been aimlessly scrolling through popular internet forums, like Twitter or Reddit, chances are you’ve stumbled upon the frequent and heated debates surrounding non-fungible tokens (NFTs). These debates, typically, question whether NFTs are the best thing to happen to the online art community or the beginnings of an environmentally-detrimental hellscape.