Crypto Fight

2023-04-07 22:00:01 ​Meta coughing up big money to developers building its metaverse.

Despite turbulent times for Meta in terms of metaverse development, sources close to the company say its metaverse programmers are paid up to $1 million for their work.

Tech giant Meta — the parent company of Facebook, Instagram and the WhatsApp messaging service — has been eyeing expansion into the metaverse for some time now. However, it has had a rough start, with billions in losses.

Nonetheless, a new report from The Wall Street Journal says that Meta’s programmers working on the company’s virtual reality suite can earn total compensation from “$600,000 to packages approaching $1 million.”

The report says the information on metaverse developer salaries at Meta came from anonymous “people familiar with the matter.”

According to reports from the beginning of the year, the company’s metaverse-building division, Reality Labs, lost $13.7 billion over the course of 2022. It marked the division’s largest yearly losses recorded.

However, Mark Zuckerberg, the company’s co-founder and CEO, has been on record saying the company doesn’t have any plans to change its long-term vision for the metaverse. In fact, at the beginning of February 2023, Meta was given approval by a judge in the United States to go forward with acquiring a virtual reality company.

Prior to that ruling, Meta was served with a lawsuit from the Federal Trade Commission against Meta and Zuckerberg as an attempt to block “its ultimate goal of owning the entire ‘metaverse.’”

Recently, two U.S. senators released a letter addressed to Zuckerberg urging the Meta CEO not to allow teenagers access to the metaverse platform Horizon Worlds. They cited “serious risks” and called it a “digital space rife with potential harms.”

On March 13, the head of commerce and financial technologies at Meta tweeted that the company was slowly stopping its support for nonfungible tokens on Facebook and Instagram for the time being. According to the executive, the move was to “focus on other ways to support creators, people, and businesses.” Open / Comment

2023-04-04 22:00:01 ​Brazil bank BTG Pactual to issue USD-pegged stablecoin

The new U.S. dollar-pegged stablecoin aims to help BTG Pactual’s customers interact between the traditional financial system and the digital economy.

Major Brazilian investment bank BTG Pactual continues onboarding new cryptocurrency services with the launch of its own stablecoin backed by the U.S. dollar.

BTG Pactual is preparing to launch the BTG Dol, a new stablecoin pegged to the U.S. dollar on a 1:1 ratio, using the bank’s custody services. Announcing the news on April 4, BTG Pactual said that the stablecoin would enable holders to “dollarize” a part of their equity, and help customers interact between the traditional financial system and the new digital economy.

“We are innovating in using financial technology for our client’s benefit. When buying BTG Dol, investors have access to an easier, safer and smarter way to invest in dollars,” BTG Pactual’s head of digital assets, André Portilho, said.

According to the announcement, the new BTG Dol stablecoin is based on Mynt, BTG Pactual’s proprietary crypto technology platform. Launched one year ago, Mynt allows users to invest in cryptocurrencies like Bitcoin and Ether. Mynt’s head of operations, Marcel Monteiro, said :

“We recently launched eight new assets, we already have 22 cryptocurrencies on the platform, and now we have our own stablecoin. This shows that the Bank trusts technology and will continue with its commitment to offering new innovative digital products and services.”

As previously reported, Tyler and Cameron Winklevoss-founded crypto exchange Gemini partnered with BTG Pactual to provide custody for some of the bank’s digital asset-related funds. BTG Pactual’s Bitcoin 20 Multi-Market Investment Fund reportedly became one of the first Bitcoin funds launched in Brazil in 2021, with custody and other services provided by two Gemini subsidiaries, Gemini Custody and Gemini Fund Solutions. Open / Comment

2023-04-02 14:30:00 ​El Salvador removes all taxes related to tech innovation for economic growth.

Technology innovations such as software programming, coding, apps and AI development, and computing and communications hardware manufacturing will be exempted from taxes in El Salvador.

El Salvador, the first country to establish Bitcoin as a legal tender, has decided to eliminate all taxes on technology innovations. The move runs parallel to establishing the National Bitcoin Office (ONBTC) of El Salvador, also known as “the Bitcoin office.“

When legalizing Bitcoin on Sept. 7, 2021, Salvadoran President Nayib Bukele saw the technology as a means to counter hyperinflation and dependence on the U.S. dollar. Over the past 18 months, El Salvador restrategized Bitcoin investments and utilized capital gains in numerous instances to rebuild the nation.

Moving ahead with the strategy, Bukele believed in winding down tax requirements to expedite technological development. As promised, on April 1, Bukele officially sent a bill to Congress — effectively eliminating all income, property, and capital gains taxes on technology innovations “such as software programming, coding, apps and AI development, as well as computing and communications hardware manufacturing.”

Supporting this initiative is the establishment of the Bitcoin office, a regulatory body for conducting joint initiatives with Bitcoin entrepreneurs and companies. According to Asociación Bitcoin de El Salvador (Bitcoin Association of El Salvador), ONBTC aims to “position the country in the world as a technological and economic power.”

In addition to attempting a financial comeback, Bukele’s ongoing efforts to reinvent El Salvador include promoting tourism, countering terrorism and building regional business hubs.

At the start of 2023, El Salvador passed legislation providing the legal framework for Bitcoin-backed bonds — Volcano Bonds.

The terminology of the Volcano Bonds is derived from Bitcoin City’s location, which is set to become a renewable crypto-mining hub powered by hydrothermal energy from the nearby Conchagua volcano. Open / Comment

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2023-03-29 22:00:01 ​Web3 creators at higher a loss for royalties than anticipated.

New data from research by eBit Labs and LiveArt marketplace reveals that the previous estimates of creator royalty losses, which were around $35 million, may be much higher.

The nonfungible token (NFT) space has been a proven gateway for helping users take their first steps into the Web3 space. This is particularly true when it comes to artists and creators using Web3 tools to enhance their work.

However, new data from eBit Labs and LiveArt marketplace reveals that the loss of creator royalties over the past year in the NFT space could be higher than estimated.

According to the data, after the emergence of the Blur marketplace in October 2022, two of the leading NFT collections - Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) - experienced shortcomings in royalties of around $20 million alone

The new data involving BAYC and MAYC shortcomings then points to previous estimates of $35 million in royalty shortcomings likely being too small.

Creator royalties have been a big topic of discussion in the NFT space. After briefly halting creator royalties and then receiving severe community backlash, the OpenSea marketplace said it would enforce creator royalties on all listed collections.

Back in November 2022, the founders of BAYC proposed a new model for NFT creator royalties, which would keep NFT transfers between wallets free.

Back in September of 2022, MagicEden, another prominent NFT marketplace, defended its own NFT royalty enforcement tool. The tool gives creators the ability to flag an NFT or blur the image if the listing or trade bypasses royalty rules.

Nonetheless, Boris Pevzner, the co-founder and CEO of LiveArt, said that despite the Web3 ecosystem touting itself as a “creator-centric space,” the new data shows reality falling short of this promise.

“The shortfall in royalties clearly indicates that the current system is not working as it should.” Open / Comment

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2023-03-26 20:30:00 ​Tim Draper recommends founders hold ’at least’ two payrolls ‘worth of cash’ in crypto.

American venture capital investor Tim Draper warned business founders to prepare for “more and more ” bank failures if the government continues to “print money and whipsaw interest rates.“

American venture capital investor and entrepreneur Tim Draper suggested founders keep at least two payrolls worth of cash in Bitcoin or alternative cryptocurrencies, along with other diversification recommendations, in response to the uncertainty created by the collapse of Silicon Valley Bank (SVB).

In a March 25 report directed at business founders, Tim Draper stated that Bitcoin is a hedge against a “domino run” on the banks and overbearing government intervention, adding that businesses “can no longer rely” on a single bank or governing body to manage their cash.

Draper suggested that business founders keep at least “6 months of short-term cash” in two separate bank accounts — one with a local bank and another with an international bank.

He noted that businesses should also have at least two payrolls “worth of cash” in Bitcoin and other cryptocurrencies.

These preventative steps were necessary, according to Draper, because for the “first time in many years,” governments are seizing control of banks, and governments themselves are “at risk of becoming insolvent.”

He further revealed that “many startups” sought emergency relief from him after SVB and other banks shut down.

Additionally, Draper emphasized the importance of contingency plans, as boards and management are responsible for meeting payroll deadlines “even in times of crisis.“ He added :

“It is important to build out contingency plans for bank failures that could happen more and more often if the government continues to print money and whipsaw interest rates to counteract inflation caused by the over-printing of money.”

Draper reminded founders to be vigilant against the risk of fraud, noting that fraudsters are skilled at identifying weaknesses in a system and exploiting them.

Furthermore, to prevent phishing theft, he advised founders to verify with all parties involved whenever there is a change in wire instructions or a new approval system. Open / Comment

2023-03-24 15:00:05 ​ Discover CribX: The Summit of Web3 Entertainment

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CribX is an avant-garde web3 entertainment sphere, guided by the celebrated actor and filmmaker, Anthony Hayes (famed for GOLD with Zac Efron).

Uniting dimensions, CribX joins forces with various web3 communities to provide virtual entertainment via:

CribX Virtual Movie Theater Chain
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Live Musical Experiences
Movie Night Events
Metaverse VR Avatar Encounters

CribX has teamed up with Polygon Labs to develop exceptional virtual experiences in the Metaverse!

Our platform showcases:

Smart TV & Mobile App Integration
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AR Live Music Performances with Top Talent
NFTs
Wide-ranging Metaverse Partnerships
Comprehensive Roadmap
Open Team
Contract Review by Solidproof
Marketing Alliance with Ninjapromo.io

Cribx launched token on 23.03.2023, but you can still take part. Don't miss your chance.

This micro-transactional token will be indispensable throughout the ecosystem, facilitating:

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2023-03-23 20:58:35 Liquid Mining will launch global sales on April 1st, 2023.

The presale and beta testing phases of Liquid Mining are coming to a successful end!

The multimining technology showed annual 400% ROI to users. Impressive, isn’t it?

Taking into account that public sale start and beta testing end will happen in a same span of time, users will receive their rewards for participating in the referral system during April.

Liquid Mining has already made waves in the cryptocurrency community, with a large and passionate user base spanning more than 10 languages:

Liquid Mining ENG
Liquid Mining JP
Liquid Mining RU
Liquid Mining DEU
Liquid Mining SPN
Liquid Mining HUN
Liquid Mining CHN
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Liquid Mining THA
Liquid Mining VNM

However, we must also mention that the GPU capacity is selling out fast, and there is a limited amount available.

The CEO of Liquid Mining is also providing users with essential educational videos on basics of cryptocurrency mining. This means that even the newbie in crypto can easily access the platform and start getting profits!

So, if you're interested in joining the Liquid Mining community and start earning from cryptocurrency mining, now is the time to act.

Twitter | Discord | Website | Chat | IOS app | Android app Open / Comment