How much bitcoin has been lost due to misplaced keys and forgotten passwords? Bitcoin Casino estimates the number to be around $24 billion. The downside to crypto is that mistakes can be very costly.
NFT platform Blur has made a huge jump in sales since October to give OpenSea a run for its money.
A New York court case will decide how artists can depict commercial products in NFTs. This is an interesting case because it isn’t challenging the use of images of Birkin bags and turning those images into NFTs. That would be okay, because an image of a product is not the product itself. On the other hand, by titling his project MetaBirkin, Mason Rothchild could be guilty of trademark infringement. Anyone creating NFTs that depict popular real-world projects should keep an eye on this case.
Adimverse has introduced its first character gallery, a list of characters and their descriptions created in its first creator rooms. Unfortunately, the character gallery is only available to members. I’m glad I’m a member. I also helped create one of those characters.
Interpol is working on a plan to police metaverse crimes. Just in case Al Capone shows up. In the last 30 days, 18 of the top 20 metaverse tokens saw gains up to 319 percent.
WeTransfer partners with Minima on mobile NFT service.
California is making NFTs of car titles. This has clear long-range implications. Virtually all government services could use blockchains to streamline how legal documents, registrations, and even identification can make use of NFT technology. Imagine if your driver’s license was an NFT. It would then be possible, using zero-knowledge proofs, to shield your residential address from public view while allowing law enforcement the ability to find you if you break the law. It could even reduce identity theft.
Unkle Bonehead and I discuss the death of Rally and Coil in the latest Defluenced podcast episode.
More than 30 DeFi projects partnered on February 7 and 8 to permissionlessly share each other’s social media messages. MakerDAO, SushiSwap, and Aave were among the protocols using Twitter for this initiative.
Will Web3 payment services ever overcome current limitations?
The Museum of Modern Art can’t even give away free NFTs. No wonder. NFT sales are expected to drop 72 percent from last year’s high. Roofstock sells a home in Alabama through an NFT.
The clock is winding down. Just a few more days to join my book launch team. Get in now or you’ll have to buy the book at full price. Web3 Social: How Creators Are Changing the World Wide Web (And You Can Too!) shows creators how they can make use of Web3 social media to monetize their content better, secure more IP rights and security, and own their fans and content instead of renting them.
Snark and commentary are in italics. Inclusion of an item doesn’t mean I agree or endorse the ideas presented. Of course, it also doesn’t mean I don’t.
Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto. Original articles on Fridays.
First published at Cryptocracy. Not to be construed as financial advice. Do your own research.
Image source: Nansen.ai via CoinDesk