ParaSpace CEO Denies Allegations of Mismanagement of Recovered Funds in NFT Financialization Protocol
ParaSpace, a nonfungible tokens (NFT) financialization protocol, has been embroiled in controversy after its CEO, founder, and CTO Yubo Ruan was accused of mismanaging funds equaling 2,909 Ether (ETH) recovered through a white-hat interception that occurred on March 18. Ruan has denied any wrongdoing and claims that the allegations are an attempt to force him to step down as CEO.
Why NFT must be the future of music streaming?
This article states that the traditional music streaming industry has resulted in a significant income disparity between record labels and music creators. However, the emergence of NFTs provides a new path for musicians to explore new business models and thrive in the Web3 era.
Alo Yoga Launches In-Store NFT Claim for Free Daily Mindfulness Collectibles
Alo Yoga, a retailer of clothing and accessories with many locations in the United States, has partnered with MoonPay, a crypto payments firm, to offer an in-store NFT claim. Customers can receive free digital collectibles with daily affirmations by tapping their smartphones against a terminal at the checkout counter. The NFTs are centered around mindfulness and provide access to mental health resources. Alo Yoga is covering all minting fees to make the process accessible to everyone, and the NFTs may offer future benefits such as token-gated access to events or exclusive sales.
Mooky: The Meme Coin with a Mission to Protect the Environment and Offer Financial Gains
Mooky, a new meme coin, has launched its presale with a focus on environmental protection and tree planting. The project has already raised over $430,000 and is fully audited for security and anti-rug measures. Mooky offers unique features such as the Ventures Club, a governance DAO controlled by NFT holders, and an exclusive 3D NFT collection linked to actual trees planted in the real world. With its commitment to community building and future plans to introduce new utilities and products.
Peace Inside Live Releases JOMO Effect NFT Collection to Raise Funds for Mental Health in Web3 Space
Peace Inside Live, a digital mental health collective, has partnered with 11 organizations to release a non-fungible token (NFT) collection called JOMO Effect. The collection features digital artworks from over 40 creators and is available to mint on Polygon through Magic Eden for 24 MATIC, or about $21, for the next 24 hours. Minting a JOMO Effect NFT donates primary sale profits to five mental health charities, including the American Foundation for Suicide Prevention.
Elon Musk's Tweet Sends Controversial NFT Collection Miladys to Top of OpenSea Trends
Twitter CEO Elon Musk caused a stir among fans of the Miladys non-fungible token (NFT) collection when he shared a meme featuring one of the avatar NFTs with the words "There is no meme, I love you." This led to the collection becoming the top trending spot on NFT marketplace OpenSea, with the floor price briefly reaching an all-time high of 7.3 ETH before dropping back down to 5.6 ETH. Despite controversy surrounding the creator of the collection, Miladys has seen a 59% increase in floor price over the past seven days.
KNexus-Psyche NFT: KNN3’s first Web3 AIGC NFT debut
KNexus-Psyche is an NFT project that combines Web3 and AIGC (Artificial Intelligence Generated Content) features, represents a unique initiative that unites the power of Web3 and AIGC to introduce an innovative co-creation process that generates one-of-a-kind digital art pieces. With the use of AIGC technology, users can create custom prompts that reflect their Web3 graph data and preferences, resulting in a personalized and tailored experience.
The Importance of Thorough Research Before Entering Web3: Lessons from the Successes and Failures of Established Web2 Brands
The emergence of Web3 has caught the attention of established Web2 companies, but success in the former requires a different approach. The failure of Porsche's NFT project is an example of this, while Reddit's success in Web3 has surpassed OpenSea's wallet count. Thorough research is necessary before entering Web3, as seen in the unsuccessful attempts of Web2 giants like Porsche, National Geographic, and Liverpool FC. Successful Web2 brands in Web3, such as Nike and Reddit, have conducted thorough research before entering the market and consulted with Web3 native experts. To fully embrace Web3, brands must seek the guidance of experts who understand the market to avoid lacking validation and being out of reach for a wider audience.
European Union proposes Markets in Crypto Assets (MiCA) regulations to apply to crypto-related services within the EU.
The Markets in Crypto Assets (MiCA) regulation is set to become law in the European Union by July 2023, with some rules taking effect in 2024 and 2025. It applies to those engaged in the issuance, offer to the public, and trading of crypto-assets or related services. NFTs are not covered, but regulators may monitor large collections. MiCA imposes stricter rules on stablecoins, more disclosure obligations, and anti-money laundering and data security procedures.
Under MiCA, most crypto asset issuers only need to create a white paper and notify authorities in the EU country where they plan to do business. However, issuers of asset-referenced tokens (ARTs) must have their white papers approved and meet higher standards if they are "significant" in size. ART issuers must also have a registered EU office and match reserves to liabilities. The regulation includes market abuse rules and fines for incorrect information in white papers, but it may not prevent all industry blow-ups.
Michael Saylor Discusses Impact of Ordinals on Bitcoin Adoption in Recent Podcast
MicroStrategy co-founder Michael Saylor has discussed the impact of BTC Ordinals on Bitcoin mining and adoption, citing it as a catalyst for adoption. He also mentioned other factors such as bank failures, hyperinflation, and regulators referring to an asset as a commodity. Cryptocurrency exchange OKX has introduced Ordinals to its wallet and marketplace, while Binance has hinted at plans to support BTC Ordinals in collaboration with more NFT projects. In other news, MicroStrategy has purchased an additional 5,050 bitcoins for approximately $242.9 million, bringing their total holdings to 114,042 bitcoins, which Saylor believes is a better store of value than gold.
