web3
Tycho Launches Web3 Community On Polygon Blockchain
Tycho is using Web3 technology to forge an artist-to-fan community built for the future. Tycho’s unique come-up allowed him to experience various trades within the music industry before rising to prominence as an artist himself. In an introduction to his new Tycho Open Source Community, the Grammy-nominated Weather artist explains that creating his own music publication in the early days of his career allowed him to build a community and engage with other writers in a marketplace of ideas. While the subsequent social media era has certainly had its upsides, Tycho continued, he’s been eager to return to build a stronger, more collaborative sense of community. To that end, the Tycho Open Source Community aims to unite Tycho’s fans from around the world. powered by...
What is an NFT and why are they so popular?
Nonfungible tokens (NFTs) have been part and parcel of the cryptocurrency space for the last couple of years. Still, their value and utility across several industries have driven their proliferation into mainstream consciousness. Cointelegraph’s director of video production Jackson DuMont delves into the intricacies of NFTs, highlighting the importance of the underlying blockchain technology in proving ownership of digitally scarce assets: “NFTs provide unique, verifiable and immutable proof of ownership of digital goods. True digital ownership of assets through NFTs is a revolutionary idea that will transform how we interact with the internet.” Another important aspect of NFT technology highlighted by DuMont is handing the ownership of digital assets to users as Web3 functionality begins ...
Web3 games incorporate features to drive female participation
Although there is still an apparent lack of women in the Web3 sector, blockchain-based games geared toward women may help drive inclusivity. A recent report from the Entertainment Software Association found that 48% of gamers in the United States identify as female. It has also been noted that nearly half of all gamers in the world are women. The interest that women have taken in the billion-dollar gaming sector is notable. This, combined with the massive growth being projected by the GameFi industry, is a key reason why a number of Web3 games are being built specifically for female users. Beryl Chavez Li, co-founder of Yield Guild Games — a global play-to-earn gaming community — told Cointelegraph that she believes blockchain-based games like Axie Infinity have started to see an upt...
Crypto Biz: Crypto VC is back with a vengeance
You’ve no doubt heard the expression, follow the money. Well, if you do that in the venture capital world, you’ll be led directly to crypto, blockchain and digital assets. After a modest summertime lull in venture financing, this week saw the announcement of two massive raises worth a combined $500 million. That’s $500 million VCs are allocating to crypto-focused startups at the intersection of Web3, blockchain infrastructure and decentralized communities. If you think funding deals have stopped amid the bear market, think again. I mentioned “summertime lull” at the outset, but that doesn’t mean funding has stopped. There are so many deals, in fact, that I’ve had to start a separate series called VC Roundup just to keep track. Data from Cointelegraph Research also shows that Q2 fundi...
Controversial Music NFT Platform HitPiece Relaunches Months After Shutdown
Mere months after being slammed by the music industry at large for auctioning music NFTs without artists’ consent, HitPiece has relaunched, Billboard reports. Legions of artists lashed out at HitPiece in early 2022 after a plethora of NFTs appeared on the controversial marketplace without their consent. After major recording artists like Jack Antonoff and industry trade organizations like the RIAA admonished the platform, its website went offline. But HitPiece is now back online and aiming to be “the easiest place to create and buy authentic music artist NFTs,” according to Billboard. “HitPiece is working with the licensors of music to secure performance rights,” Felton said in an email to Billboard. “We may enter into agree...
Truly decentralized Web3 needs more developers: Animoca co-founder
Animoca Brands co-founder and chairman Yat Siu has urged for more developers to enter the Web3 space, warning that without “choice” there can be no “decentralized environment.” Speaking to Cointelegraph during Korean Blockchain Week (KBW) 2022, Sui stressed that more developers need to come into the space to give consumers more alternatives when it comes to their platform of choice — which could be based on “best value” or one they most culturally associate with. “We need as many choices of Layer-1’s and Layer-2’s […] or creative companies so that they [crypto users] have a choice in machine code from one another […] so we have a desire to create many alternatives. Siu noted that while developers have been excited to build software applications, many have continued to “struggle under...
deadmau5 and Richie Hawtin Top Lineup of Speakers at Beatport’s Inaugural ReConnect Summit
Beatport has announced the headlining speaker lineup for the company’s inaugural ReConnect summit, set to take place in New York on September 21st and 22nd. Dance music stalwarts and PIXELYNX founders deadmau5 and Richie Hawtin are slated to speak about their experience in the Web3 space and provide insights on metaverse music experiences in the years to come. Representatives from Meta, Red Light Management, Disruptor Records, the Association for Electronic Music and more will lead discussions on timely topics like diversity and inclusion, wellness and branding among others. Beatport’s ReConnect summit builds upon Beatport’s philanthropic initiative that launched shortly after the COVID-19 pandemic wrecked havoc on the music industry. It has since raised more than $...
Curve Finance resolves site exploit, directs users to revoke any recent contracts
On Aug 9, automated market maker Curve Finance took to Twitter to warn users of an exploit on its site. The team behind the protocol noted that the issue, which appeared to be an attack from a malicious actor, was affecting the service’s nameserver and frontend. Don’t use https://t.co/vOeMYOTq0l site – nameserver is compromised. Investigation is ongoing: likely the NS itself has a problem — Curve Finance (@CurveFinance) August 9, 2022 Curve stated via Twitter that its exchange — which is a separate product — appeared to be unaffected by the attack, as it uses a different DNS provider. However, the issue was quickly addressed by the team. An hour after the initial warning, Curve said it had both found and reverted the issue, directing users to have approved any contracts o...
Blockchain and NFTs are changing the publishing industry
Web3 has become the most sought-after investment sector of 2022, as use cases for nonfungible tokens (NFTs), the Metaverse and other blockchain applications come to fruition. Therefore, it shouldn’t come as a surprise that different segments of the publishing industry have begun to use Web3 technologies to transform traditional models. For example, the textbook publishing giant Pearson recently announced plans to use NFTs to track digital textbook sales to capture revenue lost on the secondary market. Time magazine, which was founded 99 years ago, has also been using NFTs to create new revenue streams, along with a sense of community within the publishing industry. Keith Grossman, the president of Time, told Cointelegraph that the magazine is demonstrating the new possibilities of en...
Korea Blockchain Week, Aug. 9: Second-day takeaways from the Cointelegraph team
Korea Blockchain Week (KBW) 2022 wrapped up its two-day mainstage events this evening, which again saw a number of influential speakers take to the podium including Janine Yorio of Everyrealm, Yat Siu of Animoca Brands and Sky Mavis’ Jeffrey Zirlin. Held at the Grand Intercontinental Seoul Parnas, the second-day conference saw thousands of attendees engaged across three conference tracks — Stage Seoul, Stage Busan and Stage Jeju. The majority of the discussions on the second day focused on the future of the Metaverse, and the strategies that Web3 companies are taking to grow the industry. Given that the event was based in Korea, many were interested in the many exciting Web3 projects coming out of the Korean blockchain scene. The two-day event turned in a very large attendan...
Ethereum will outpace Visa with zkEVM Rollups, says Polygon co-founder
zkEVM Rollups, a new scaling solution for Ethereum, will allow the smart contract protocol to outpace Visa in terms of transaction throughput, said Polygon co-founder Mihailo Bjelic in a recent interview with Cointelegraph. Polygon recently claimed to be the first to implement a zkEVM scaling solution, which aims at reducing Ethereum’s transaction costs and improving its throughput. This layer-2 protocol can bundle together several transactions and then relay them to the Ethereum network as a single transaction. The solution, according to Bjelic, represents the Holy Grail of Web3 as it offers security, scalability and full compatibility with Ethereum, which means developers won’t have to learn a new programing language to work with it. “When you launch a scaling solution,...
Blockchain Streaming Platform Audius Victim of $6M Hack
Audius, a blockchain-based streaming service, announced over the weekend that a hacker managed to steal and sell millions of dollars worth of AUDIO tokens from the platform. The hacker was able to find and exploit a bug in Audius’ smart contract — the code that allows decentralized platforms to function without intermediaries. Other companies have been hit in a similar fashion: The blockchain security firm Beosin recently estimated that close to $2 billion has been lost to hacking incidents in the first half of 2022. “The most common hacking techniques continue to be contract vulnerability exploitation and flash loans,” Beosin noted. On Saturday, Audius tweeted that it was looking into “reports of an unauthorized transfer… from the community treasury.” The following day, the company publis...
