Blockchain
An overview of the blockchain development lifecycle
This process is a proven and tested method for blockchain developers in the industry. Organizing the process in this manner yields the most efficient and ideal outcomes. The blockchain application development process comprises eight steps, detailed below. The eight steps in the blockchain development lifecycle: Define the problem to be resolved with blockchain application The first step of this process involves identifying a problem that a blockchain can resolve successfully. It can be both costly and unnecessary to use a blockchain when it is not required. Therefore, it’s critical to identify a real-world problem that a blockchain can resolve. Choose the best-fitting consensus mechanism Each blockchain project utilizes its own consensus mechanism. T...
What is the role of a decentralized autonomous organization in Web3?
A DAO empowers its community members with voting rights and allows investors to send, receive and store value globally, automatically and anonymously. For years, automated systems have been viewed as a way to reduce annoying hurdles to humans, such as dealing with lengthy and burdensome traditional bureaucratic systems. A DAOs’ purpose is to primarily to help resolve such issues and encourage humans to focus on better productivity and other more rewarding aspects of an organization. A DAO’s automated system does not require a traditional central management, which is more vulnerable to failure, human error and manipulation. In terms of real-world applications, what can a DAO do? The lack of hierarchical management allows the organization to have different...
The Ledger: How Big Is the Potential Music NFT Market?
The Ledger is a weekly newsletter about the economics of the music business sent to Billboard Pro subscribers. An abbreviated version of the newsletter is published online. It seems everybody is getting — or wants to get — in on the NFT business. It’s reminiscent of the late ’90s when companies rushed to launch websites because, well, there was money to be made and everybody else was doing it. Many companies stumbled out of the gate, but the internet turned out to be a pretty good business opportunity. The jury is still out on NFTs but there’s obvious potential. It’s no surprise that people spend hundreds or thousands of dollars on digital tokens that confer rights to anything from digital art to fan club-like perks. Some fans spend dearly to support their favorite artists. And with NFTs, ...
Why real estate investors are going crazy over virtual lands?
The value proposition of virtual land works similarly to the real world. High-value properties are often near shops and activities, in which people will pay higher rent to live by. Of course, the value of virtual land only increases if areas develop and people get involved in the metaverse. This prospect is why there are many skeptics of such an investment. The millions of dollars worth of investments into virtual land is all a risk, but it’s not an unfounded one. After all, celebrities and stars are buying virtual land for all sorts of reasons. Some celebrities, like Snoop Dogg, are buying land to get ahead of the trend or because they think it’s fun. Others, such as the Winklevoss Twins, invest in land for educational purposes — to build exhibits t...
Crypto community rallies with Ukraine as local NFT artists’ works sell out
It appears that crypto enthusiasts worldwide are rallying in support of Ukrainians during the difficult times. According to reports, Bitcoin (BTC) donations to Come Back Alive, a non-governmental organization helping Ukraine’s military efforts, received $3 million in BTC in a single donation on Friday. Users also took to social media to ask the country’s Ministry of Defense to accept crypto donations, such as Tether (USDT). At the same time, the founder of Ukraine’s Kuna exchange created a crypto fund to assist charities in the country. Everyone! Thank you for all the support and donations! The current plan is separated into 3 parts to involve as many as possible 1) direct donations (aimed at individuals)2) NFT Auction (via telegram & Opensea) 3) Project %...
This Software Lets You Design Trippy Visuals of Your Music—Then Mint Them As NFTs
We know—NFT this, metaverse that. But before you grumble at this umpteenth blockchain tech platform, consider its value for music producers. VOID is a Web3-based platform that allows musicians to generate and customize kaleidoscopic visuals with their own songs. Created by Dutch developer Triptcip, the sequencing software essentially takes your music and spits out a trippy, beat-reactive mosaic. Triptcip’s visual synthesizer, VOID. Triptcip VOID, which Triptcip says is the first of its kind, aims to arm music producers with an easily accessible visual synthesis tool. Visual designers have enjoyed the spoils of the digital art revolution, but many musicians have found themselves stuck in a new kind of limbo. Without a budget to join forces with a capable designer or a trusted partner au cou...
Time Studios talks legacy media and the rise of NFTs
Cointelegraph spoke to Keith A. Grossman, President at TIME, about the legacy media company’s recent moves into the Web3 space. According to Grossman, TIME seeks to “modernize the relationship our brand can have with its community.” Some of these moves include creating 1:1 NFTs of their flagship magazine covers, the option for digital subscribers to pay in crypto, and the launch of their TIMEPieces NFT project collaborations. Grossman stated that an important result of all of these initiatives is the “opportunity to tap into the great creativity emerging within the NFT community and connect this with the larger distribution channels we have already established via TIME Studios.” One artist that has connected with TIME Studios, the TV and film production division of TIME, is Doug, the artis...
Motorcycle expert turns passion project into sports analytics platform on blockchain
Skill sets gained from working on trading strategies, technology, data science and a personal passion for motorcycle racing made Scott Robinson launch a sports analytics platform. With a bit of blockchain added to the mix, the founder of Apex146 found new ways to proceed in the sports analytics business. Starting as a passion project, Robinson made an internship program offered to a professor at the University of California Santa Barbara. With the help of students, he developed a framework that looks at athlete performance in Grand Prix motorcycle racing. Using techniques he acquired working in capital markets and commodity trading at firms McKinsey & Company and Oliver Wyman, Robinson created sports performance analytics that can be applied to motorcycle racing. Scott Robinson, Founde...
What is the importance of blockchain in the RegTech ecosystem?
Financial regulators and service providers are looking for the best and most cost-effective solutions to help the banks and other financial institutions comply with the rules and do business in a compliant regulatory environment. As blockchain is already disrupting the conventional ways of doing businesses, thanks to its benefits in terms of enhanced transparency, faster procedures, decentralized and most importantly, cost-effective nature. In essence, blockchain provides the solutions for the existing problems faced by financial institutions in terms of Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. As the transactions in the blockchain system are immutable, they cannot be changed and altered, providing transparency regarding AML and KYC compliance. Customer onboard...
Steve Aoki Says He Made More Money From NFTs In 1 Year Than a Decade of Streaming Royalties
The most fervent purveyors of NFTs have remained adamant in the technology’s ability to spark a paradigm shift in music, whereby the silos of power transfer from centralized companies and labels back to the artists. Now, Steve Aoki, one of the earliest adopters of the Web3 blueprint, has shared some eye-opening comments illuminating how his bets on NFTs are paying off. At a private Gala Music event, Aoki said he’s made more money from NFTs in the past year than he has through streaming royalties over the last decade, Decrypt reports. “But if I was to really break down, okay, in the 10 years I’ve been making music…six albums, and you [combine] all those advances, what I did in one drop last year in NFTs, I made more money,” Aoki explained. Released last year on ...
Inside the Sale of Coachella’s Lifetime Passes and $1.4 Million NFT Collection
Coachella, one of the world’s most illustrious and profitable music festivals, recently announced the launch of three NFT collections: Sights and Sounds, Desert Reflections, and Coachella Keys. NFTs (non-fungible tokens) are digital assets—such as photos, visual artwork, or audio—stored on a blockchain. The tokens are immutable and they are purchased, sold, and traded using cryptocurrency. Coachella launched its own native NFT marketplace, which was built by FTX for the Solana blockchain. The festival’s three collections offer a range of digital photos, soundscapes, and posters that can be redeemed for real-world experiences. Perhaps the most significant, however, is the Coachella Keys collection. Each of its 10 collectibles grant their owners lifetime passes to Coachella. Afte...
DJ-Themed DJenerates NFT Collection Partners With Moonwalk to Deliver Premium Dance Music Experiences
Dance music’s famous faces have been immortalized through the immutable power of blockchain technology. DJenerates, an NFT collection supported by many of dance music’s biggest names including Benny Benassi, Carl Cox, Maceo Plex, and Paul Oakenfold, is turning the likenesses of superstar DJs into NFTs. The collection of 10,000 avatars additionally incorporates algorithmically driven concatenations of hundreds of unique potential traits to develop a host of unique, nightlife-inspired characters. Following the collection’s season one release, which completely sold out in just four days, DJenerates is taking major steps to build community and utility around their tokens, starting with a partnership with Moonwalk. Moonwalk provides the digital infrastructure for NFT crea...
