Monday, May 30, 2022

Tezos (XTZ) Could Be The Next Top NFT Network?

 


Decentralized open-source blockchain, Tezos (XTZ) is making a foray into the DeFi and NFT ecosystem. This move is also the result of a tri-partnership with three different projects namely; Opus Dei, Sad Python, and the Gebo Wallet.
In a recent interview with Tezos (XTZ), the founders of the projects discussed in-depth their individual projects. Also, on how the projects are interconnected to make Tezos (XTZ) the perfect DeFi and NFT ecosystem.

More on the Projects
As previously indicated, the projects include;

Opus Dei Money Protocol – It is a decentralized multi-chain platform for trading, creating, and exchanging digital assets. Simply put, it is also a peer-to-peer (P2P) lending and borrowing platform, accepting Tezos assets as collateral. Interestingly, Opus Dei is also a community-governed money protocol. This means that major decisions need to be approved by community members.
Opus Dei will also facilitate the development of DeFi-as-a-Service (DaaS), Gebo wallet, and DAO functionalities.

Sad Python – is the flagship NFT project of the Tezos (XTZ) ecosystem. It is also a unique and top-notch NFT project that is designed with DeFi features. Also, its DeFi features are made possible via its PYTH token. PYTH is the native token of the Sad Python ecosystem.

Saturday, May 28, 2022

Tether Launches on Polygon, USDT Stablecoin Now Hosted on 11 Blockchain Networks

 


Following the company launching a fiat-pegged tied to the value of the Mexican peso, Tether, the stablecoin issuer has announced the firm has launched tether tokens on the Polygon network. The Polygon integration follows the stablecoin being added to the Avalanche and Kusama blockchain networks.

Tether Joins the Polygon Blockchain Ecosystem
The largest stablecoin by market capitalization, tether (USDT), is now supported on the Polygon blockchain (formally called Matic). USDT's market valuation today is $72.6 billion and the stablecoin trade volume is $59.15 billion out of the $106.34 billion in global trade volume on Friday.
Tether Launches on Polygon, USDT Stablecoin Now Hosted on 11 Blockchain Networks

In addition to Polygon, USDT is supported on the Omni Layer blockchain, Ethereum, Tron, EOS, Liquid, Algorand, Solana, Bitcoin Cash (SLP), Kusama, and Avalanche. Furthermore, €195,998,829 worth of EURT, ¥20,503,468 worth of CHNT, and 226,289 XAUT (tether gold) have been issued by the firm.
Expanding to the Polygon network's layer two (L2) scaling solution on top of the Ethereum blockchain will provide tether (USDT) users with cheaper transfer fees. Polygon has more than 19,000 decentralized applications (dapps) and the network's native token MATIC is the 21st largest by market valuation.

"We're excited to launch USDT on Polygon, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space," Paolo Ardoino, the CTO at Tether said in a statement sent to Bitcoin.com News. "The Polygon ecosystem has witnessed historical growth this year and we believe Tether will be essential in helping it continue to thrive," the Tether CTO added.
The Polygon team confirmed the launch on Friday when the official Twitter page tweeted: "Tether USDT launches on Polygon."

In addition to tether (USDT) launching on Polygon, Polygon Studios CEO Ryan Wyatt explained that the team had put together a multi-million dollar fund to help Terra blockchain developers migrate to Polygon.
Tether says the Polygon announcement on Friday, "further solidifies Tether's position as the most widely adopted stablecoin."

The news of tether (USDT) being implemented on the Polygon network follows the token's market capitalization losing $10.4 billion since May 10, 2022. On that day, USDT's market valuation was $83 billion and today it's approximately $72.6 billion.
Furthermore, Tether launched a fiat-pegged token tied to the Mexican peso called MXNT on May 26, and MXNT tokens will be available on Solana, Ethereum, and Polygon as well.

Thursday, April 28, 2022

Lisk at the Paris Blockchain Week Summit

 

The most accessible blockchain application platform was in France on April 12th to 14th for the Paris Blockchain Week Summit. Joining a long list of heavyweight blockchain projects, several key Lisk figures were present at the event to showcase its latest developments in Lisk's thriving ecosystem.

With over 3,000 attendees and more than 250 confirmed speakers, PBWS was a resounding success, and Lisk certainly benefited from that.

The project's Community Lead, Miguel, took part in a panel discussion at the Junior stage of the event, and was later interviewed by David Lin, for Kitco News.
Additionally, the Marketing team at Lisk took up residence in a booth, very close to the entrance of the Palais Brongniart, making it easy to get noticed, and ultimately resulting in two days of mingling, interviews, and brand awareness.

If you missed the event, here is the recap from Lisk at the Paris Blockchain Week Summit.

Sponsoring PBWS: Tech Track by Lisk
Lisk is honored to have taken part in this exclusive event and thankful for the opportunity to sponsor the conference's tech talks, featuring highly renowned developers, startups and researchers in the blockchain industry, covering topics such as the metaverse, DAOs, NFTs and, of course, Interoperability.

Miguel discusses with the panel
Lisk is happy to report that this exposure led to productive and successful talks with numerous acclaimed companies, investors, and developers, who showed great interest in the project.

Building Awareness: Conference Booth
In Retrospect
The marketing team at Lisk made more than 100 contacts in the industry, opening up new avenues for potential partnerships, as well as educating potential future users and developers about the platform and its vision. The team is confident that sponsoring a booth was vital for that purpose.

The marketing team at the PBWS
Lisk booth at PBWS
Insights
Representing one of Lisk's USPs, the illustration below was the main attraction of the project's booth, featuring two high fiving characters dressed as Lisk and JavaScript respectively.

Miguel and David Lin after the interview
In speaking to developers, they were pleased to find out that with Lisk one can build a blockchain application, fully customizable, soon interoperable, written entirely in JavaScript and TypeScript, removing the hassle of having to learn a new programming language, and/or having to code in an unfriendly tool-kit.

Building Interest: Media Opportunities
Kitco News
Invited by David Lin, Kitco News' anchor, Lisk's Community Lead Miguel discussed a number of blockchain-related topics including:

The state of the cryptocurrency industry
The current and potential use cases for NFTs
How GameFI can contribute to mainstream adoption
How Lisk approaches Interoperability
New Lisk Illustration representing the project's USP.
New Lisk Illustration representing the project's USP.
Throughout the interview, Miguel also shared some light on his career path leading onto his current role, motivating aspiring blockchain enthusiasts to get involved regardless of their professional background.  

The full interview is now available on Kitco News' channel on YouTube.

Panel Discussion: Junior Stage
Moderated by Orian Tal from Market Across, Lisk's Community Lead, Miguel, provided his insights into "how to land a job in Blockchain".

Together with Jeremy Wauquier, Alyra's President, Miguel discussed a number of topics including:

How to find a job
Valuable skills to have
Work environment
Pro's and con's
Trends in the space
Miguel speaks with the panel on stage
"At the end of the day, having an interest in the industry will set you apart." - Miguel.

Do you want to land a job in blockchain? Click here to watch the full discussion, and don't forget to check out Lightcurve's latest openings.

Marek Stiller, Kryptowaluty
The last highlight is Marek Stiller's interview with Lisk's Marketing Manager, Michal, where the latter took the opportunity to reflect on Lisk's development. In Polish, both discussed a number of topics including the vision for the project, the importance of interoperability as well as other upcoming milestones. Here is the full interview in Polish, with English subtitles.

Michal gets interviewed at the Lisk booth
Building Conversion: Online Activity
Lisk was also active throughout the whole event on social media, live tweeting from the conference with photos and videos, which received great support and engagement from the project's community. As a result, the team intends to continue this trend at future events.

If you are curious as to Lisk's main takeaway's from the conference's talks check out this thread.

A la prochaine fois, Paris
Lisk is thrilled about its successful attendance and participation in PBWS, one of Europe's biggest blockchain events.

The venue of the PBWS on the last day
Finally, as a result of the great support and engagement received from the community during the week, the team at Lisk has revealed that it has other exciting plans throughout the year, and will announce all upcoming events on its socials in due course.

The getaway to blockchain is coming to you. Stay tuned.

Tuesday, April 26, 2022

Decathlon Use Tezos To Add An NFT Experience To The Séan Garnier Street Football Boots Product

 


Decathlon
Decathlon is a French sporting retail giant with 2080 stores in 56 countries. In 2020, they generated $11.4 billion in revenue and have close to 100,000 employees.

In 1976 the first Decathlon store was opened in Lille by Michel Leclercq, France, now it is known as the largest sporting goods retailer worldwide.

Séan Garnier
Séan Garnier is a French freestyle footballer. He is a two-time Football Freestyle World Champion, a three-time French champion, a Red Bull athlete, Urbanball Ambassador and Founder and member of S3 crew.

He a very large social following with over 3.74 million YouTube subscribers and over 5.4 million Instagram followers.

Tezos Technology Used In The Decathlon X Séan Garnier Street Football Boots
Now, it has been announced that Tezos technology has been used in the Decathlon X Séan Garnier Street Football Boots product line in order to provide an NFT experience.

The collaboration has been done with the help and support of Nomadic Labs.

The football boots come with an attached NFT 'Golden Ticket' which is said to: 'give access to new personalized and exclusive experiences with the world champion… a golden ticket that extends the experience!'

On the Golden Ticket NFT experience Decathlon stated:

'This is the first step in building a future where digital goods are connected to physical goods.'

This suggests that more utilization of Tezos blockchain technology will accompany Decathlon products in the future.

Tuesday, April 5, 2022

Tezos Upgrades A Ninth Time And Switches Consensus Algorithm As ‘Ithaca 2’ Gets Activated

 


Ithaca 2 Activates And The Tenderbake Consensus Algorithm Is Now Live
'Ithaca 2' – the ninth Tezos core protocol upgrade has been activated and this upgrade switches out the Tezos consensus algorithm from Emmy* to Tenderbake.

This means that the consensus algorithm has changed from being a Nakamoto style algorithm (Emmy*), to a BFT-style algorithm (Tenderbake).

This upgrade lowers block times, delivers faster finality, and has the potential to be optimized further down the line to deliver advanced scaling solutions.

It's been a long journey towards Tenderbake activation for the Tezos community and now it has recently happened with Ithaca 2.

The first research paper on Tenderbake was submitted in early 2020. This research paper included notable people and organizations such as CEA List, Université Paris-Saclay, and Nomadic Labs among others.

CEA List, who are part of the CEA, otherwise known as the French Alternative Energies And Atomic Energy Commission. The French Alternative Energies And Atomic Energy Commission have an annual budget of €5 billion and have over 20,000 employees.

In April 2021, Tenderbake was launched on testnet.

In early 2022 Tenderbake could have also been activated in 'Ithaca 1', however that amendment upgrade did not quite secure enough of a supermajority to push it over the line.

Now, Tenderbake has been activated with the Ithaca 2 core protocol amendment upgrade on the 1st of April 2022.

Summarized optimizations included in Ithaca 2:

Lower blocktimes and improved finality.

Faster transactions.

Smoother running applications.

Preparation for scaling solutions including transaction and smart contract optimistic rollups (expected to be enshrined into the blockchain itself), and enabling WASM and EVM compatibility.

Reducing the requirement to become a network validator ("baker") by 25% from 8,000 tez to 6,000 tez, strengthening the decentralized nature of Tezos.

Sunday, April 3, 2022

GrantShares DAO launching to support ecosystem growth and grassroots initiatives

 


The GrantShares DAO is launching on Neo N3 to distribute funding to grassroots developers and ecosystem beneficial projects. The DAO will manage an initial treasury funded by the Neo Foundation.

As the first DAO to launch on Neo N3, GrantShares is designed to provide financial support to smaller initiatives that do not currently fit the scope of Neo's existing grant programs. Voting members of the organization include COZ, AxLabs, Red4Sec, NGD Enterprise, NeoResearch, NEXT, Neo SPCC, Neo Foundation, Neo Global Development, and Neo News Today.

Anyone is encouraged to submit a proposal for the members of the DAO to discuss and vote.

The initial funding limit for GrantShares is $50,000 per proposal, and can be used to fund local events, dApps, developer tools, education initiatives, and more. Projects seeking larger amounts should apply for grants through one of Neo's Eco Support tracks.

The DAO's smart contracts are developed and maintained by AxLabs and have already been deployed to the Neo MainNet. In the coming weeks, AxLabs aims to release the accompanying dApp for applicants to submit proposals. The dApp will create an issue in the GrantShares repository where DAO members can discuss the potential grantee's proposal before voting.

In addition to distributing funding, AxLabs designed the GrantShares smart contracts to serve as a reference implementation for other N3 developers. The DAO contracts are open-source on the GrantShares repository.

The GrantShares dApp is tentatively expected to launch in mid-April 2022.

Sunday, March 6, 2022

Papa John’s Use The Tezos Blockchain To Give Away Free NFT Bags

 

Papa John's NFT Bag Giveaway
Papa John's is using the Tezos blockchain to give away free NFT bags designed by two talented NFT designers; Tom Hoff and Ash Sketch. One lucky winner given the chance to with a real-life version. The NFTs can be claimed here.

There are nine NFT bags from 19,840 to choose from and claiming a bag enters the owner into a draw to win a collectible real-life Papa John's bag, with the winner being chosen on the 14th April 2022. This will be the 'Papa 1984' yellow bag, by Ash Sketch.

The bag is worth £250 and users are able to mint one NFT bag per wallet in order to enter the draw.

Papa John's is the fourth-largest pizza delivery restaurant chain in the United States, operating over 5000 restaurant locations worldwide. The pizza bag giveaway will represent the company's first foray into the NFT market and for this they chose to utilize the environmentally friendly Tezos blockchain in order to distribute the offering.
Papa John's stated:

Most Proof of Work blockchains are very inefficient and wasteful by design. They can use millions of times more energy than modern Proof of Stake blockchains like Tezos. By comparison, creating and trading NFTs on Tezos takes around the same amount of energy as sending an email or a social media post.

Last year big rival Pizza Hut entered the NFT market with their pizza art NFT offering.

People will be able to buy the real-life versions of these bags in an exclusive drop of five real Papa 1984, Papa Cheese Melt and Papa Tag bags which will go on sale via Depop, the fashion marketplace, on 7 March 2022. 

Friday, March 4, 2022

Payvo is Coming - ARK.io

 


Payvo is coming, and it is going to be our best wallet yet! Read on to find out everything that has changed since our last update, including the transition from a desktop app to a fully web-based application. There is a lot to cover, so let's get straight into it!

#Payvo is Now 100% Web-Based
When we set out to build a next-gen wallet, we had a few key goals in mind:

  1. Payvo needs to be the best white label out-of-the-box solution possible.
  2. Payvo needs to easily integrate with any ARK-based network.
  3. Payvo needs to be user and developer friendly while featuring the intuitive interfaces we have become known for.
  4. Payvo needs to be modern and future-proof.
  5. If you have spent any time with Web3, then you are probably familiar with the major shift towards web-based interfaces for both DeFi and wallet management. The truth is, desktop applications are outdated, so we need to make sure that we keep up with industry standards and trends. There are a lot of benefits with a move towards a web-based application, so let's take a look at a couple of the most important ones.

#Payvo Will Always be Up-to-Date
One of the most frequent support emails we get is that someone cannot see their funds, or they stopped receiving rewards from their delegate, or that their wallet is, in some way, failing to properly update the network data. In almost all cases, the solution is to update the wallet to the latest version.

With Payvo, you will always be up-to-date, meaning you will no longer have to worry whether you have the most recent version or not—it will just work. Period.

This also means that it is easier for us to push regular updates and make changes without disrupting you as the user. This leads to a better development cycle and an ability to create a more seamless interface for the end user.

#One App, Multiple Operating Systems
With the shift to a web-based application, Payvo will effectively become 'one-size-fits-all.' Whether you are on a desktop, laptop, iPad, or mobile phone, Payvo will provide a unified experience across all of your devices. Simply access the URL, and you are off to the races!

This greatly benefits developers who no longer need to maintain multiple codebases or submit to Apple or Google for approval of the mobile app. This greatly reduces the time required to get your fork up and running and makes maintenance easy.

Not only that, but the web-based application eliminates some of the restrictions caused by the previous use of Electron. This will make some features more efficient and easier to work with (such as web workers). Payvo also loads faster, runs smoother, and generally provides a better experience for both users and developers.

#White Label and Built for ARK
The shift to a web-based application is merely one of the only major changes with Payvo. We have spent a lot of time looking at our goals as a company and have put significant effort into getting back to basics. While we originally envisioned Payvo as a multi-wallet that would support BTC, Ethereum, and other assets, we feel like we need to stay squarely focused on providing the best possible solution for the ARK Ecosystem and those who fork the ARK Blockchain Framework.

As such, our goal is to make Payvo the best possible white-label solution for ARK Based networks and focus on making it plug-and-play within the ecosystem. With this change, we will also be moving away from running 'Live Service' applications directly from the ARK Ecosystem, SCIC. Everything that we build will be freely available as open-source software for anyone to run. We do not want to be the single point of failure nor pick and choose which networks matter the most. We love all of our bridgechains and want to give each and every one of them the opportunity to provide a robust application suite and set of features to their communities.

All we ask is that you leave the license in place, give us credit where credit is due, and if you get famous, give us a shout and let us know all the cool stuff you are doing!

#So When Can We Use Payvo?
We expect to have a public beta version available within the first half of March. The beta version will be fully functional and support the following features:

Fully Customizable Networks - Decide which networks you want to see inside the wallet as well as those you don't want to interact with.
Custom Networks - Add any v2.7+ Core-based network to the Payvo Wallet by providing a valid node address.
Server Management - Add your own custom nodes for interacting and/or broadcasting transactions. You are in full control (if you want to be).
Swap Integration - Payvo will come with built-in integration for both ChangeNow and Changelly at launch.
News Feed - Payvo will feature a news feed powered by FTX (previously Blockfolio) for relevant (listed) networks (only ARK at launch).
We could not be more excited to get Payvo into your hands. We believe these changes make for the best wallet we have ever produced and will provide for a more robust, futureproof white label solution for ARK Based Blockchains. Stay tuned to our blog so you do not miss out on the upcoming Beta. We cannot wait to hear all your feedback!

Tuesday, March 1, 2022

Tezos Records Highest Number Of Contract Calls In January With Several Dapps Set To Launch

 


A Smart Contract Call Record
Contract calls are interactions with smart contracts in the form of transactions. This is an important metric to see growth in the adoption rate of mainnet smart contracts. Since July 2020, the amount of contract calls has increased to 1,209% of the July total.

Every month we've seen a new record in the number of contract calls (except for November, which had a 10% drop).

January saw a 22% increase compared to December. At 22% it sounds ok, but if put this growth into perspective, we see that that 22% is 2.2 times the total amount of contract calls in July last year. We're witnessing exponential growth.

If we're looking at developer activity, we also continue to see growth in activity. In December, we saw an average of 700 daily new deployments on testnets. But in January, we see an average of 930 daily new deployments.

February is set to bring a lot of new launches and milestones.

Edo
The latest protocol upgrade will go live on mainnet in the second week of February. This is a feature-packed upgrade that includes privacy features.

This means that developers can easily integrate privacy into their smart contracts, which will enable them to provide private transactions and develop "privacy-conscious" applications.

Edo also introduces Tickets. Tickets is a convenient mechanism for smart contracts to grant portable permissions to other smart contracts or to issue tokens.

Tickets will be improving challenges like concurrency, which is a general issue developers face, especially in decentralized smart contract platforms.

Tickets also enable a more efficient way of interacting between contracts. It will enable self-custody of first-class coins/token permissions and improve the developer experience.

These are just a few of the advantages Tickets will bring and you can read more about tickets here.

Kalamint
Kalamint is a platform that can be used to create, sell and collect NFT's. Besides the advantage of low Tezos fees over high fees on Ethereum-based NFT platforms, Kalamint will have a unique governance design that includes a Guild.

We'll do an extensive article on Kalamint before they launch the platform on the 18th of February.

TEZEX
TEZEX is a cross-chain gateway to Tezos. It will enable value to come from Ethereum to Tezos DeFi in a few clicks. After that, users can move away from the current fees on Ethereum, and experience a drop in costs that is on average 3,000 times cheaper on Tezos.

When TEZEX launches, another crucial instrument joins the Tezos DeFi landscape.

Quipuswap
This is the second Decentralized Exchange (DEX) that is built on Tezos. Chances are that it will launch in February. This does, however, depend on the progress of the external audit of Quipuswap.

Kolibri
Kolibri is an algorithmic stable coin, built on Tezos and backed by XTZ. A February launch of Kolibri could be a bit optimistic to expect, but a testnet was released in the beginning of January, so there has some significant progress.

1,000,000 accounts
In February, Tezos will quite likely reach the milestone of 1,000,000 funded accounts.

With currently 945,284 funded accounts, and  97,253 new funded accounts in the past 30 days, ~55,000 account are likely to get created this month and break the 1 millionth milestone.

BitConnect founder indicted over $2.4B Ponzi scheme, faces 70 years in prison

 

A federal grand jury in San Diego has indicted the founder of one of the largest scams in the digital currency space, charging him with wire fraud, conspiracy to commit commodity price manipulation, and international money laundering. Satish Kumbhani, the founder of digital asset mega scam BitConnect, faces up to 70 years behind bars if convicted of all the charges.

The San Diego court claimed in its indictment that Kumbhani misled investors about BitConnect's Lending Program. Under this program, the 36-year-old and his cronies allegedly told investors that they could generate guaranteed returns by using their investment funds to trade on the volatility of the digital asset markets, authorities said. They touted the 'BitConnect Trading Bot' and its proprietary 'Volatility Software' as being able to generate guaranteed returns.

The project collapsed in early 2018, and it was outed as a massive Ponzi scheme in which Kumbhani and his co-conspirators used later investors' money to pay off the early investors. They were able to raise $2.4 billion from investors before the project sank, according to investigators.

The indictment further alleges that after shutting down the Lending Program, Kumbhani directed his network of promoters to artificially and fraudulently manipulate and prop up the price of the BitConnect Coin (BCC), the project's native token. This gave the impression that the token was in high demand and increased its price.

To cover their tracks, the BitConnect leaders allegedly comingled and exchanged users' funds through their cluster of digital currency wallets, concealing the location and control of the funds.

Throughout the length of their operation, the BitConnect operators were aware but willfully ignored all the relevant regulations, authorities said. These include operating a money transmitting business through its exchange without registering with the Financial Crimes Enforcement Network (FinCEN), which violates the Bank Secrecy Act.

In his comments, Eric Smith, the Special Agent in Charge of FBI's Cleveland Field Office, warned digital asset scammers that the FBI would pursue criminals who turn to digital assets to conceal their schemes.

"Dressing up a tried and true fraud scheme with a new twist and basing it overseas will not deter the resolve and dedication of the FBI to meticulously investigate and bring such fraudsters to justice."

The IRS, the Justice Department's Criminal Division, and the Southern District of California's Attorney's office all shot a warning to digital asset scammers as well, reminding them that the industry isn't beyond the scope of the law.

The indictment charges Kumbhani with wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodity price manipulation, conspiracy to commit international money laundering, and operating an unlicensed money transmitting business. Kumbhani, from Hemal in India, could spend up to 70 years behind bars if convicted of all the charges.

As CoinGeek recently reported, the 11th Circuit Court of Appeals recently sided with victims of BitConnect, giving them the green light to pursue a class-action lawsuit against the project's promoters. The Southern District of Florida had tossed the lawsuit after the promoters had argued that the Securities Act of 1933 doesn't encompass solicitation conducted through online mass media means.

In its ruling, the appellate court pointed out that the Act doesn't impose a limitation on the means of solicitation, nor does any precedent ever set in the court.

"Because the Securities Act provides no free pass for online solicitations, we reverse the district court's dismissal of the section 12 claim," Judge Britt Grant ruled.

Follow CoinGeek's Crypto Crime Cartel series, which delves into the stream of groups—a from BitMEX to Binance, Bitcoin.com, Blockstream, ShapeShift, Coinbase, Ripple, Ethereum,
FTX and Tether—who have co-opted the digital asset revolution and turned the industry into a minefield for naïve (and even experienced) players in the market.

Tuesday, February 1, 2022

Neo project wins second place in Metaverse Alliance hackathon with 3D world platform

 

Neo community developer Robert Oschler has won second place in the SocialFi category of the Metaverse Alliance hackathon. Oschler's project, Neo3D Live, is a 3D metaverse world that allows users to interact with one another's avatars and participate in events like real-time auctions.

Oschler developed Neo3D Live so that anyone in any part of the world can access the 3D world, regardless of their ability to purchase powerful equipment. Neo3D Live was designed for most of the world's internet users – those without VR headsets or high-end equipment. He said:

Let Metaverse residents form meaningful connections in a virtual world that will run on common hardware, including the millions of smartphones that may be the only link to the Metaverse a citizen in an economically disadvantaged region has. This is a link that has the true power to uplift the millions, if not billions of hard-working, intelligent, decent human beings who have the misfortune of being born in a region that is not economically gifted like other parts of the world.

The platform leverages the ThreeJS graphics library, a graphics engine that is widely accessible. Neo3D Live runs on almost any browser and device, so there is no need for high-powered computer setups.

The platform's beta version allows users to congregate in a digital 3D environment. Real-time video conferencing is embedded into the moveable characters, so participants can see those they're communicating with via live video feed. Oschler said, "By combining true video conferencing where participants can see each other's faces as they talk to one another and move about a fun virtual world, people can once again feel the natural human joy of forming groups based on both social and spatial relationships like they would at a party or a shopping mall."

Oschler also incorporated other elements to make the space feel more natural and interactive. In Neo3D Live, intelligent objects are embedded in the virtual world, responding to an avatar's presence. For example, walking up to a wall with an embedded YouTube video will trigger the video to begin playing. And to create a more real-life experience, a user can hear the sounds of their movements and that of others around them.

NFT Showcase
The first demo of Neo3D Live included the NFT Showcase, a custom room where an individual can purchase an NFT on auction. A demonstration of the live auction can be found below:

The NFT designer can determine who can participate in the Showcase by whitelisting public wallet addresses on Neo N3.

The Neo3D Live smart contract supports derivative commissions, so collectors can earn profits when they sell an artist's NFTs if the artist grants them that right. Further, Oschler intends the NFTs bought and sold through Neo3D Live to be viewable and transferable via third-party marketplaces (i.e., Sky Hut, GhostMarket).

Looking forward, he aims to develop and release a drag-and-drop toolkit (that doesn't require coding ability), so anyone can build a virtual world.

India Proposes 30% Tax on Crypto Income — Finance Minister Cites 'Phenomenal Increase' in Crypto Transactions

 

The Indian government has proposed taxing income from cryptocurrencies and other digital assets at 30%. India's finance minister, Nirmala Sitharaman, said: "There's been a phenomenal increase in transaction in virtual digital assets … The magnitude and frequency of these transactions have made it imperative to provide for a specific tax regime."

30% on Crypto Income
Indian Finance Minister Nirmala Sitharaman proposed taxing income from cryptocurrencies and other digital assets at 30% while presenting the federal budget Tuesday. She said:

I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition.

"There's been a phenomenal increase in transaction in virtual digital assets," the finance minister added. "The magnitude and frequency of these transactions have made it imperative to provide for a specific tax regime."

The tax proposal puts cryptocurrencies and non-fungible tokens (NFTs) in India's highest tax band.

Harish Prasad, head of banking, India, FIS, was quoted as saying: "This has been a much awaited announcement in the context of the interest and growth in investments into these assets. The uncertainty and concerns on the legal, regulatory and taxation status of cryptocurrencies are addressed to a reasonable extent by virtue of this announcement."

Avinash Shekhar, the CEO of crypto exchange Zebpay, commented:

Thirty percent tax on income from virtual digital assets, while high, is a positive step as it legitimizes crypto and hints at an optimistic sentiment towards further acceptance of crypto and NFTs.

Nischal Shetty, the CEO of crypto exchange Wazirx, commented: "We also hope this development removes any ambiguity for banks and they can provide financial services to the crypto industry."

However, tax consultants warned that individuals could end up paying more than 30% of their crypto profits in tax and other charges. Amit Maheshwari, partner at tax consulting firm AKM Global, told Reuters: "If you made a profit of 100 rupees then including the 30% tax bracket, plus surcharge and cess the total tax outgo will be around 42 rupee."

Another announcement the Indian finance minister made Tuesday was about the launch of the country's central bank digital currency (CBDC), the digital rupee. She said the central bank, the Reserve Bank of India (RBI), will introduce a digital currency starting in the financial year 2022-23, stating:

The introduction of a central bank digital currency will give a big boost to the digital economy. Digital currency will also lead to a more efficient and cheaper currency management system."