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The Merge as seen by NFT artists, fan art from Beeple to Vanity Blocks

The Merge: NFTs dedicated to Ethereum 2.0

Beeple and other digital artists celebrate The Merge, discover the NFTs created in honour of the Ethereum update!

The Merge has finally been activated and the Web3 world is in full celebration. Digital artwork and NFTs dedicated to Ethereum 2.0 were not late to the party either! The launch of The Merge officially took place on Thursday the 15th of September at 06:42:42 UTC, activated from block number 15537393. The update marked Ethereum’s final transition to the Proof-Of-Stake consensus algorithm. Given the importance of the event, many wondered how to celebrate The Merge on the blockchain in an immutable manner. In short, with its symbols and mascots, The Merge has become the topic of many NFTs!

Ethereum blockchain blocks become NFTs

The last block of Ethereum’s Proof-of-Work blockchain and the first block of Ethereum’s Proof-of-Stake blockchain have both become NFTs. Blockchains are immutable records of information grouped into blocks, which usually contain different numbers of transactions. Bitcoin’s blocks for example contain around 2000 transactions, whereas Ethereum’s blocks usually contain fewer, around 300 to 500.

The emerging NFT brand Vanity Blocks created the NFT of Ethereum’s latest blockchain Proof of Work.

The VanityBlocks project was created to allow users to fill a block on the Ethereum blockchain with a single transaction and turn it into an NFT. The NFT block then becomes the property of the person who processed the transaction. How much did it cost to turn the last block on Ethereum’s Proof-of-Work blockchain into an NFT? 30.5 ETH, about $45,000. Now the NFT can be purchased on the OpenSea marketplace. The current offer is 20 ETH, about $27,000. Within this NFT, the Vanity Blocks team decided to write a quote by US writer Terence McKenna: ‘Make a commitment and nature will respond to that commitment by removing impossible obstacles. Dream the impossible dream and the world will not crush you, but lift you up. That is the trick’. Probably a thought to emphasise the commitment and the enormous amount of innovation that went into the creation of The Merge!

Not only did the last block on Ethereum’s Proof-of-Work blockchain become an NFT but the same thing happened to the first block on the Proof-of-Stake blockchain. One user managed to make a transaction on the first Proof-of-Stake blockchain by paying as much as 36.8 Ethereum in gas fees. The latter are the fees each user pays to process transactions on a blockchain. Gas fees are generally not that expensive, on this occasion the figure was high because the blockchain was particularly congested, in other words very active. The NFT in question depicts a black page entitled ‘The Transition’ on which there is some information such as the chain ID, the blockchain number, the timestamp, i.e. all information and data related to the transaction itself, and on the right-hand side of the page a drawing of a panda.

The panda has become the symbol animal of The Merge on social networks. Even the search engine Google, within the widget for the countdown of The Merge, has inserted two teddy bears, one white and one black, running towards each other with the aim of becoming a panda once the update has taken place. The panda became a popular animal to narrate The Merge following the custom of representing ‘fusion’ through gestures in the Japanese cartoon Dragon Ball Z. Rather than Goku and Vegeta, all the memes depicting The Merge were represented by two bears, one white and one black. They would later fuse and give birth to the panda. The peculiarity of the NFT of the first Proof-of-Stake block is definitely the block number, 15537394 the one with which The Merge was activated!

Beeple’s digital artwork in honour of The Merge

All the most influential individuals and projects within the Web3 community paid tribute to The Merge. In addition to the so-called ‘insiders’, developers and founders of major crypto projects, digital artists also spoke out to celebrate this important event. Among the various works of art produced, those by Beeple certainly stand out. He is one of the first and most influential artists in the NFT field. Beeple has been creating at least one work of art a day for more than 10 years now. In 2020, he decided to turn his artwork into NFTs. The collection containing the first 5000 works, called Everydays, was sold in February 2021 for $69.4 million. There are two digital artworks related to The Merge that Beeple created to date. One is entitled ‘THE MERGE’ and depicts a huge reproduction of the Ethereum symbol under construction. The NFT of the Ethereum logo is constructed from a diamond-like material in purple. The symbol is located inside a kind of futuristic laboratory surrounded by two mechanical arms that appear to be in the process of completing it. This artwork probably represents the completion of the ‘merging’ process and the change of consensus algorithm.

The other digital artwork is called ‘PROOF OF STAKE’ and it depicts a large cyborg panda moving menacingly inside a mine populated by stones resembling the symbol of Ethereum. The two works maintain the classic characteristics of Beeple’s NFTs, so they are both set in a dystopian, psychedelic universe and give the viewer mixed emotions.

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The White House finally has a plan to regulate crypto and DeFi

Cryptocurrencies: US plan for regulations and CBDC

The US government has published the ‘first comprehensive framework for the responsible development of digital assets’. What new laws should we expect?

The United States has taken another step for the regulation of cryptocurrencies. On the 16th of September 2022, a document entitled ‘White House Releases First Ever Comprehensive Framework for Responsible Development of Digital Assets‘ was published on the White House website. It is a report summarising the investigations into the crypto sector carried out by nine federal agencies over the past six months, which will be used to implement a legislative plan. The work is the result of President Joe Biden’s executive order issued on the 9th of March of this year. It asked federal agencies to outline guidelines for regulating the industry based on six areas of focus such as consumer protection, promoting financial stability, and financial inclusion.

Over the past six months, agencies across the US government have worked together to develop guidelines and policy recommendations on these issues: from the Treasury Department to the Justice Department,. Let’s take a look at the highlights of the document!

What is the White House document about?

The document drawn up by the federal agencies is divided into seven sections. From their titles, you can already guess the content presented by the White House. A series of actions that will soon take the form of laws and guidelines:

  1. Protecting consumers, investors and businesses;
  2. Promoting access to safe and affordable financial services;
  3. Fostering financial stability;
  4. Advancing responsible innovation;
  5. Reinforcing our global financial leadership and competitiveness;
  6. Fighting illicit finance;
  7. Exploring a US Central Bank Digital Currency (CBDC).

Which crypto laws are essential?

The paper starts with a significant figure: 16 percent of American adults have already purchased digital assets. This figure is accompanied by a stance: digital assets are defined by the US government as ‘potential opportunities to strengthen US leadership in the global financial system’, as well as in the field of technological innovation. Federal agency reports explicitly promote research and development in the area of next-generation cryptography, transaction programmability, cybersecurity, and privacy protection. The document expresses great confidence in cryptocurrencies as a resource, but at the same time calls for measures to counter the risks associated with digital assets.

The main risks identified by the federal agencies are volatility and the danger of scams: “outright fraud, scams and theft in the digital asset markets are on the rise: according to FBI statistics, reported monetary losses from digital asset scams were nearly 600% higher in 2021 compared to the year before.” In this context, reference is also made to the lack of crypto regulation that has led to huge losses for consumers following the collapse of the Terra (LUNA) ecosystem. In addition to volatility and the danger of scams, there are also the risks of possible money laundering and the use of funds for illicit activities. According to the White House document, all this must be monitored to ensure the safe use of digital assets. In short, we need laws that promote innovation and at the same time contain the risks.

Proposals such as instructing the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to ‘aggressively pursue investigations and enforcement actions against illegal practices in the digital asset sector’ have been made in this regard. Also, a call for the Consumer Financial Protection Bureau (CFPB) to redouble its efforts to monitor consumer complaints and to enforce against unfair, deceptive or abusive practices has been made. Finally, proposals were also made for a series of initiatives for financial education and literacy, to raise awareness of the use of cryptocurrencies and to learn how to spot fraudulent practices.

The US is preparing a plan to be ready for any eventuality, and the document published on the 16th September presents all the issues that the legislation will then target.

The digital economy is an asset for all

One interesting aspect that emerged from the White House document is the realisation that the digital economy is a real opportunity for Americans: ‘Today, traditional finance leaves too many people behind. Roughly 7 million Americans have no bank account. Another 24 million rely on expensive nonbank services, such as cheque cashing and money orders, for everyday needs. And for those who do use banks, paying with traditional financial infrastructures can be costly and slow, particularly for cross-border payments’. To encourage the spread of digital services, the US plans to develop instant payment systems and networks for digital assets that are usable, inclusive, fair, and accessible to all.

The CBDC of the United States, a work in progress!

The report also features a section entitled ‘Exploring a US Central Bank Digital Currency (CBDC)’. The US is therefore considering a digital form of the US dollar that ‘has the potential to offer significant benefits’. In what sense? A Central Bank Digital Currency “could enable a payment system that is more efficient, provide a foundation for further technological innovation, facilitate faster cross-border transactions, and be environmentally sustainable. It could promote financial inclusion and equity by providing access to a wide range of consumers.” The project for the CBDC appears to be on track, although the federal agencies believe that further research and considerations should be carried out, especially on the technological level.

Criticism of the Biden administration report

The White House’s publication has prompted criticism and objections from some crypto industry members and opposition politicians. They called the document drafted by federal agencies ‘outdated and unbalanced’ and unsuitable for building a legislative framework. The Blockchain Association, which works to raise awareness and improve policy in the crypto world, believes the report lacks “substantive recommendations”. Blockchain Association Executive Director Kristin Smith explained that the federal agencies’ reports are “a missed opportunity to consolidate US leadership in cryptocurrency,” and criticised them for focusing too much on the risks of cryptocurrency. Sheila Warren of the Crypto Council for Innovation, another crypto promotion organisation, said the report does not provide clear policy guidelines. Patrick McHenry, a Republican member of the House Financial Services Committee, offered a criticism in the same vein. He claims that the document is too vague: ‘with clear rules, this innovative technology [cryptocurrencies] can revolutionise our financial markets, modernise our payments system infrastructure, and provide new opportunities for consumers’. Regarding the US CBDC project McHenry explained that ‘Republicans have always said that the benefits of a potential US CBDC must outweigh the risks: these reports fail to demonstrate this’.

A benchmark for international crypto regulation?

The White House document and the framework that will follow could be the inspiration and guide for many other countries. This is certainly Biden’s aim. In the text, you can read that the US explicitly intends to be an example for the regulation of digital assets: ‘US agencies will leverage US positions in international organisations to communicate US values related to digital assets. U.S. agencies will continue and expand their leadership role in digital asset work at international organisations and standard-setting bodies, such as the G7, G20, OECD, FSB, Financial Action Task Force (FATF), and the International Organisation for Standardisation.” All while trying to convey the US values of privacy, free markets, financial stability, consumer protection, and environmental sustainability.

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Gala Games’ new platform: after video games, it’s time for decentralised music!

Gala Crypto: music NFTs in a new Web3 platform

Discover the Web3 platform dedicated to music and developed by Gala Games. With music NFTs, create your own playlists and get GALA crypto!

Gala Games is a game development platform created in 2019 by Eric Schiermeyer and Michael McCarthy. It aims to offer a dedicated crypto gaming ecosystem where developers can work with ease and where users can have full control (including economic control) of game resources. On the Gala Games web app, you can download Web3 games and exchange NFT game items. In just a few years, Gala’s crypto has climbed to fourth place in the ranking of the most capitalised tokens in the crypto gaming industry (compiled by the research platform Messari.io). In this ranking, the top three places are occupied by The Sandbox, Axie Infinity and Enjin, respectively.

Gala Games has recently broadened its horizons: after crypto video games, Gala is ready to make its mark in the field of music and film as well. Its expansion is aimed at the entire entertainment sector. In this regard, Gala Music and Gala Film were born. Read on to find out about these innovative dapps!

Gala Games, the crypto gaming paradise

Gala Games is a platform where creating and playing video games earns rewards in Gala crypto. The way Gala Games works is similar to the well-known web platform for digital content distribution: Steam. However, it is also possible to buy and sell items, skins and objects in the form of NFTs on Gala. These items can then be used within the crypto games available on Gala. The games available on Gala are not (and will not be) entirely developed by the platform, but can and may also be developed by third parties.

The two most anticipated titles still in development are Mirandus and Grit . Mirandus is a fantasy RPG in which players have absolute freedom of choice: they can explore the wilderness on their own, try their luck against forest monsters, or join one of the five monarchs who control the kingdom of Mirandus. Grit, on the other hand, is a battle royale game set in the Wild West and developed in collaboration with gaming giant Epic Games. This video game has been presented as a sort of fusion between Fortnite and Red Dead Redemption. Survivors of gunfights on horseback or chases after speeding trains are the only winners in this game. The partnership with Epic Games has drawn attention to Gala Games, who is meanwhile making waves for their cutting-edge proposals for music and film on blockchain.

How Gala Music works: decentralised streaming

“Web3 is the next evolution of the internet”, is the introduction of a blog post edited by the crypto platform Gala. When talking about the evolution of the internet, one cannot leave out one of the sectors for which the internet is most used: the entertainment sector. And Gala is not backing down! With this in mind, the Gala Games team is working on two more platforms: Gala Music and Gala Film. How do they work? Gala Music is a Web3 platform where music can be rented, shared and listened to. Gala Music is based on what is called a Music Node, which is a real node for creating a network of shared music. A ‘Node’ is a term widely used in the crypto world. It refers to devices that connect to the interface of a blockchain and contain all transactions that have been recorded on that network. More generally, a ‘node’ can mean a participant in a network. In this example, we are talking about devices connected to the Gala Music network, which do not contain transactions but do contain music NFTs. In a nutshell, Gala Music’s Music Nodes contain music recorded on the blockchain. You can think of them as a kind of jukebox that everyone can access.

When you decide to use Gala Music, you open your own Music Node, which you customise by purchasing music NFTs from the store. Users will get Gala crypto in proportion to the plays their node generates. If you do not want to buy your own node, you can purchase NFTs and rent them to Music Node operators in exchange for a portion of the rewards generated.

Rewards in GALA are not only distributed to music NFT owners and node owners, but also to the artist who created the song.

There are two types of music nodes: Player Nodes, the mechanism of which we have just described and Fan Nodes, dedicated to specific artists through which you can obtain a range of benefits such as exclusive NFTs. Among the artists on the platform are some big names, such as the rock group Kings of Leon and the Mount Westmore rap crew consisting of Snoop Dog, Ice Cube,Too Short and E-40. The first drop of 25,000 Player Nodes took place in February 2022, and the cost per node was around $1,200.

Gala Film functions in a similar way to Gala Music, but instead of Music Nodes, you will find Film Nodes. The first Gala Film nodes are still available for purchase, at a price of 106,000 Gala, so approximately 5,000 €.

Gala and Web3: power to the artists and content creators!

The system designed by Gala for both platforms, Gala Music and Gala Film, goes beyond rewarding NFT owners and Node operators. It also distributes most of the rewards directly to the artists. Keyword: creator economy!

The two systems, respectively renamed watch-to-earn and listen-to-earn, aim to overcome the current economic model for content creators and artists. The streaming platforms of Web2 no longer seem suited to rewarding content creators. Web3 is here for that: you can monetise everything you create and produce online! The Internet will be in the hands of those who actually create its value, all thanks to the decentralisation enabled by blockchain.

With Gala Music and Gala Film, new talent will also be involved. Thanks to these platforms, emerging artists will be facilitated to get in touch with new fans in an easier way.

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Young Platform supports the Ethereum Proof-of-Work (ETHW) airdrop

Young Platform supports the ETHW airdrop

Young Platform supports ETHW’s airdrop. When will it be distributed? Who is entitled to it?

After the activation of Ethereum’s The Merge update, a group of miners performed a hard fork, creating a new blockchain on which mining can continue. This alternative blockchain, called Ethereum Proof-of-Work, has its own new token, ETHW. It will be distributed via airdrop to all those who owned Ether before The Merge.

When will ETHW’s airdrop be released?

Excluding possible delays by the Custody Provider relied upon by Young Platform, which is carrying out checks and monitoring the blockchain created from the hard fork, we expect to airdrop the ETHW tokens over the next 15 days, during which a date will be announced as soon as it is certain. The airdrop will be carried out in a 1:1 ratio, meaning that for every ETH held prior to the activation of The Merge, one ETHW will be released.

There are currently no plans to list the ETHW token. However, the Young Platform team is considering it. A possible listing will be announced with advance notice!

Who can participate in the airdrop?

The distribution of the ETHW token is calculated on the basis of the snapshot taken on  the 15th September 2022 at 06:42 UTC. This corresponds to the time when The Merge update was activated.

To check whether you are entitled to ETHW airdrop on Young Platform, please refer to these three different cases. If on the 15 September 2022, at 06:42 UTC:

1. You had ETHs in your Spot Wallet

You will receive the ETHWs you are entitled to directly in your Spot Wallet.

2. You had ETHs active in your Earning Wallet

If you had not deactivated the Earning Wallet functionality for your ETHs by the 15th of September 2022 06:42 UTC, your right to receive the ETHW airdrop depends on the outcome of the analysis that Young Platform’s Earning Wallet Provider is performing on the new blockchain created from the fork. You will be able to receive ETHW in proportion to your Ether in the Earning Wallet only if the Ethereum Proof-of-Work blockchain is supported by Copper (the Custody Provider) within 30 days after the hard fork. Moreover, the new blockchain must simultaneously meet at least two of the three requirements explained below. 

The three requirements, two of which must be met by the Ethereum Proof-of-Work blockchain, are:

  1. Hash Power: the average hash power mining of ETHW on the 30th day following the occurrence of the Hard Fork (calculated as a 30-day average on such date) is at least 5% of the hash power mining of ETH on the day preceding the Hard Fork (calculated as a 3-day average of the 3 days preceding the Hard Fork).
  2. Market Capitalization: the average market capitalisation of ETHW (defined as the total value of all ETHW) on the 30th day following the occurrence the Hard Fork (calculated as a 30-day average on such date) is at least 5% of the average market capitalisation of ETH, calculated as a 30-day average on such date.
  3. 24-Hour Trading Volume: the average 24-hour trading volume of the ETHW on the 30th day following the occurrence the Hard Fork (calculated as a 30-day average on such date) is at least 1% of the average 24-hour trading volume of ETH (calculated as a 30-day average on such date).

The fulfilment of the requirements and the consequent right to receive the airdrop will be promptly communicated according to the required timeframe for the analyses (approximately one month).

3. You deactivated the Earning Wallet functionality for your ETHs before the 15th of September 2022

If you deactivated the Earning Wallet functionality for your ETHs before the 15th of September 2022 06:42 UTC, but your ETHs were not yet transferred from the Earning Wallet to your Spot Wallet, you are still entitled to the airdrop. You therefore fall under case 1 “You had ETH in your Wallet”.

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The Merge is live! The first hours of Ethereum 2.0 and the crypto community’s reactions

The Merge is live! Ethereum 2.0's first moments and reactions

The Merge was activated on the 15th of September 2022. What happened during the first hours of Ethereum 2.0? How did the crypto sector react?

The activation of The Merge update has been called a ‘milestone’, a ‘historic moment‘ and a ‘revolution’. In recent months, The Merge has been narrated in a few different ways. It has been interpreted as the engine change of a running car, or as a spaceship not yet ready for interstellar travel according to the Ethereum Foundation’s comparison. Any narrative has tried to do justice to the scale of this update, one of the largest open-source software projects in history, which required the coordination of dozens of teams, researchers, developers and volunteers.

Some people on the night of 14th – 15th of September followed the crucial moments of The Merge minute by minute as if they were watching the launch of a space mission. As the TTD approached, watch parties and streams began to follow the precise moment the Merge was completed. Everyone gathered together from all over the world. Those who watched the Ethereum Foundation’s live broadcast also received a celebratory POAP, an NFT that will forever prove attendance at the pivotal event of the blockchain conceived by Vitalik Buterin. Check out the first hours of Ethereum 2.0 and the crypto community’s reactions to the activation of The Merge!

Ethereum is now Proof-of-Stake!

With Proof-of-Stake, Ethereum is now ready for interstellar travel. On Thursday the 15th of September at 06:42:42 UTC, the Total Terminal Difficulty 58750000000000000 was reached and the Beacon Chain was finally integrated with Ethereum’s mainnet. Vitalik Buterin, the founder of Ethereum, commented on the activation of The Merge with this statement: “And we have finalised! Happy merge everyone, this is a great moment for the Ethereum ecosystem. Everyone who helped make the merge happen should feel really proud today.”

The first epoch, i.e. the first packet of 32 blocks, of Ethereum 2.0 was finalised at 06:59. This was the litmus test that kept everyone in suspense. The finalisation of the first epoch confirmed that Ethereum 2.0 was working properly. The last block of Ethereum Proof-of-Work, number 15537393, was mined by the F2Pool mining pool, one of the first pools to deal with Bitcoin mining. The gas paid by the pool for the transaction was 29,991,429 gwei, which is the smallest unit of Ether (1 ETH consists of one billion gwei). The miner of the last PoW block included a message in Mandarin in the block itself: “七彩神仙鱼F!”, which translates to “Colourful Angelfish F!”. From then on, the miners were no longer responsible for the validation of Ethereum transactions. An NFT was created from ethereum’s last mined block and created for sale on OpenSea under the name ‘The Last POW Block’.

Celebrations for The Merge and the first NFT on Ethereum PoS

A few hours after the activation of The Merge, someone paid 36 ETH (the equivalent of $57,600) to ‘mine’ the first NFT on Ethereum 2.0. The non-fungible token represents a panda and some details of the state of the blockchain at the time it was created.

Why a panda? The animal became the symbol of The Merge because it was pictured as a combination of a white bear and a black bear. A few days ago, Sam Padilla, Google’s Web3 engineer, introduced a small easter egg in the search engine screens. When a user would search for ‘The Merge Ethereum’ or similar terms, the countdown for the update appeared alongside two little bears, one white and one black. As the countdown elapsed, they moved ever closer to each other. The timer was directly connected to the blockchain and updated in real time. From now on after the successful completion of the merge, a panda appears clutching the ETH symbol between its paws.

Beeple, the famous NFT artist, also paid homage to The Merge by posting his latest work depicting a giant Ethereum symbol on Twitter.

The crypto community’s reactions to The Merge

The crypto community exploded in comments and celebrations after the activation of The Merge. Here are some of them!

1. Yuga Labs

Yuga Labs, the founders of Bored Ape Yacht Club, the leading NFT collection built on Ethereum, wrote: “Congratulations to the entire Ethereum team on a successful merge. This is a historic moment for us and a big step in scaling Ethereum to its first billion users.” For Yuga Labs, it is crucial that Ethereum becomes a blockchain capable of handling a large volume of transactions simultaneously. Especially now that it is building Otherside, its Metaverse.

2. Tim Beiko, the spokesman for the developers of The Merge

‘We are done. It’s done. We merged. Holy s**t. Amazing work everyone!” was how Tim Beiko, one of the developers most involved in The Merge, commented on the success of the update.

https://twitter.com/TimBeiko/status/1570307466075992064?s=20&t=cA8QX-T2r-DJp3y9dPCkgg

3.    Justin Sun, Charles Hoskinson, Emin Gun Sirer

Congratulations on the successful upgrade of Ethereum also came from competitors. Among them, congratulations came from the founders of Tron, Avalanche and Cardano.

         Charles Hoskinson, who was part of the core founders of Ethereum, recorded a video in which he explained that he wanted to take a moment to praise the hard work of the people who brought about this ‘historic moment’. According to Hoskinson, The Merge is the most complex thing ever achieved in the crypto sector. An example of scientific progress and a victory for all!

On the same wavelength, Emin Gün Sirer of Avalanche wrote that the Merge was: ‘a moment and a milestone to remember. Congratulations to the developers who navigated enormous technical complexity. You should be incredibly proud’.

What happened to the price of ETH after The Merge

In the minutes immediately following the activation of the update, the value of the cryptocurrency dropped slightly (by 0.4 per cent compared to the previous 24 hours). However, the price of ETH after The Merge remained essentially unchanged, hovering around $1,600.

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Puma’s NFTs and the metaverse show at the New York Fashion Week 2022

NFTs and the Puma metaverse at the New York Fashion Week

Puma: between the metaverse and NFTs at the New York Fashion Week. Discover the initiatives of the German brand in the world of Web3!

The New York Fashion Week started on Friday the 9th of September 2022, and it is almost drawing to a close. Among the fashion collections that have just taken to the catwalks of the Big Apple, one stands out from the rest. We’re talking about the German brand Puma, that has been absent from the catwalks since 2017. They were ready to return in style through such a highly anticipated event. So, why was Puma’s event on Wednesday the 14th of September 2022 so eagerly awaited? It was the first fashion show to take place in both the real world and the metaverse!

The event called Futrograde was held both on the New York catwalks and in Puma’s Metaverse called Puma Black Station. The news doesn’t end there though! In August 2022, the famous German brand launched its NFT collection on the Ethereum blockchain called Puma Nitropass. Find out how to interact with the Puma Metaverse and their NFTs!

Futrograde, the parade in the Metaverse Puma Black Station!

On the occasion of one of the most eagerly awaited fashion events of the year, Puma has developed a true Web3 ecosystem in which the industry’s leading technologies interact. One of the objectives is certainly to cross geographical boundaries and enable everyone to experience the thrill of attending a Fashion Week event.

But let’s go in order, where did the Futrograde event take place? The event took place in Puma’s metaverse called Puma Black Station, at 2am on Wednesday the 14th of September (UK time). The Black Station platform is a 3D environment designed with the Unreal 5 graphics engine. According to the brand, all of Puma’s Web3 initiatives will be made available there. As of today, users can access two portals by moving around like in a video game: one is called NFERNO and one is called FASTROID. Once you access the portal, you can move to the centre of the virtual room where two 3D models of the sneakers that Puma is about to launch are positioned, illuminated by a particular play of light.

The 3D models in question depict two Puma sneakers that NFT Nitropass owners can physically obtain. How? By burning the digital artwork currently in their possession or by destroying it forever. Puma Nitropass NFTs, built on the Ethereum blockchain, are available on the OpenSea marketplace. The collection consists of 4000 units and the minimum price at which they can be purchased is 0.23 Ether, approximately 370€.

At the back of the room of the Metaverse Puma Black Station, there is also a portal called ‘Futrograde Entry’, which was the route to the Puma show during New York Fashion Week 2022.

Puma’s Web3 and NFT journey

The fact that Puma is a brand in tune with Web3 technologies is nothing new. The German brand approached the Web3 world (and in particular the NFT space), ahead of most competitors by signing partnerships with famous digital art collections. Puma’s Web3 adventure officially started on the 21st of February 2022 with the purchase of the ENS domain puma.eth. Ethereum Name Service (ENS) is a protocol for registering domains on the Ethereum blockchain. Each ENS domain can be used as a web address, a wallet, an email or a social media account. Puma has for now chosen to use its ENS domain as the handle of its Twitter page.

Between February and June 2022, Puma launched a large series of partnerships with important NFT projects. In just a few days, it formed partnerships with four collections created on the Ethereum blockchain: CoolCats NFT, Lazy Lions, CatBlox and the Gutter Cat Gang. Each project covered different initiatives. For example, the collaboration with Lazy Lions, which took place in conjunction with NFT Week 2022 in New York, allowed Lazy Lions holders to get a Puma T-shirt with their NFT Lion printed on it. Is it a coincidence that all these NFTs depict felines?

The next step in Puma’s Web3 journey? In May 2022, the brand decided to jump in and develop its first NFT collection together with English football club Manchester City. The collection celebrates the 10th anniversary of the club’s first title in the Premier League (England’s top football league). The particular name of the collection called 93:20 refers to the time elapsed from kick-off to the decisive goal scored by Sergio Aguero during the last game of the 2011-2012 season.

The collection consists of NFTs depicting Aguero’s Puma football boot in a cartoonish, decomposed version, with a series of vignettes inside representing the city of Manchester and the Citizens team. There are only three NFTs in the collection and they differed from each other in terms of the colour of the shoe’s background and the experiences they offered to buyers. The crypto artworks created by digital artist Musketon were sold on the NFT marketplace called Makersplace at three quite different prices, precisely because they offered different benefits. The one with the blue background sold for $1,100, the one with the yellow background for about $2,000, and the one with the green background, which included four tickets to watch a match from the Etihad Stadium suite, for about $6200.

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What is NBA Top Shot? Here come the basketball NFT collectibles

What is NBA Top Shot: a guide to basketball NFTs

An NFT platform dedicated to memorable moments in basketball now exists on the Flow blockchain. Find out what NBA Top Shot is and how it works!

What is NBA Top Shot? In essence, it is a platform for fans of the most famous basketball league! Created from a collaboration between the blockchain company Flow, the Dapper Labs team and the National Basketball Association, NBA Top Shot offers videos of the most memorable moments of basketball in the form of NFTs. NBA Top Shot NFTs can be collected and used as playing cards. So, how do the challenges work? Where can you buy NBA NFTs? What are the differences with Sorare? We explain all this and much more in this guide to NBA Top Shot!

What is NBA Top Shot? The origins of the project

The NBA Top Shot project was launched in 2019 to allow fans and supporters to exclusively collect highlights of American basketball. The idea for Top Shot came from the National Basketball Association (NBA) and the National Basketball Players Association (NBPA). The technical creation of the NFTs, on the other hand, was entrusted to Dapper Labs, a Web3 influencer. They registered the NFTs’ information and metadata on the Flow blockchain via smart contracts.

The reception of the project by fans was good right from the start, and NBA Top Shot continues to be very successful. This is partly due to the popularity and reliability of the NBA brand. Confidence in the project came from the positive values associated with the NBA, and many people bought an NFT from the Top Shot collection as their first one. A good portion of Web3 novices owe a lot to the NBA! The NBA Top Shot community has also expanded to include dozens of celebrities, including well-known faces from US basketball such as Michael Jordan and Kevin Durant. In 2021, the NFTs of the Women’s National Basketball Association (WNBA) league were also integrated.

Flow, the blockchain for NFTs

Flow is a Proof-of-Stake blockchain that aims to be the benchmark in the development of Web3 projects. Flow works to be highly scalable, fast and low cost. But its real strength is its user-friendliness for developers, who can create customised projects that are instantaneous and easy for users to use. Flow aims to support everything the Web3 world has to offer: NFTs, DAOs, play-to-earn games. Flow aims to engage the public, even those outside the crypto sector  by building the most innovative blockchain experiences. This vocation towards entertainment originates from a well-known incident in the NFT world, namely the congestion of the Ethereum network in 2017 due to the launch of the CryptoKitties collection. After this episode that demonstrated Ethereum’s weaknesses, the CryptoKitties team decided to found a blockchain suitable for hosting NFTs. Thus, the Dapper Labs startup was born, which in turn gave birth to the Flow blockchain. 

How NBA Top Shot, NFTs and challenges work

The NFTs on NBA Top Shot are called “Moments” because they depict various championship moments, such as on-court actions or memorable points. This is done through videos lasting only a few seconds. Each NFT video also features player statistics and codes indicating the rarity of the ‘Moment’. These non-fungible tokens are designed first and foremost as collectible items. However, you can “participate in challenges to earn new incredible Moments” or exclusive prizes such as match tickets. There are different types of challenges. In some, you get points based on the league performances of the players you want to play with. In others, it’s a matter of guessing which players will do certain things or obtain titles. For example “the player with the most points in the playoff game” or “the player who scores the most points in the … vs … game “. To start playing on NBA Top Shot, you first have to create an account by entering your personal data, confirming that you are at least 18 years old and having your residence in one of the countries where the project is active, including the US and the UK!

Where to buy NBA Top Shots and how much do they cost?

The value of NBA NFTs, like everything on the blockchain, varies over time and according to factors such as rarity. Tokens can be found as low as $2. However, the most expensive NBA Top Shots can go up to six figures. Since the launch of the first ‘Moments’, NBA Top Shot has generated more than $1 billion in sales. You can purchase individual NFTs or “Packs” containing a number of tokens. These “Packs” are often released in special editions (members on the platform will be notified of the drop 8 hours in advance). NBA Top Shot NFTs can be found directly on the platform’s marketplace or on secondary marketplaces such as OpenSea. For purchases you can use Bitcoin, Bitcoin Cash, DAI, USDC, Ether and also fiat currency (US dollar). Packs’ can also be purchased with FLOW, the native token of the blockchain.

Sorare vs NBA Top Shot: basketball on the blockchain

Basketball on the blockchain goes beyond NBA Top Shot! On the 7th of September 2022, Sorare, the well-known crypto fantasy football platform, announced that the NBA will be the next league to join the list. There are essentially two main differences between the platforms:

  1. The blockchain on which they are built: while Sorare relies on Ethereum, NBA Top Shot uses Flow;
  2. The topics of the NFTs: NBA Top Shot depicts significant moments in the form of videos, while Sorare displays the figurines of American basketball league players recorded on blockchain.

In general, NBA Top Shot can be said to be less of a play-to-earn and more of a collector-oriented platform than Sorare.

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NFTs in honour of Queen Elizabeth II

Here are the NFTs created in honour of Queen Elizabeth II

The Web3 celebrates Her Majesty’s life: discover QueenE DAO and all the NFT collections created in honour of Queen Elizabeth II

The news of Queen Elizabeth II‘s passing on Thursday the 8th of September 2022 is the focus of all newspapers and social networks. A short time ago, the British monarch had spoken out on the world of digital markets. She communicated through the words of the then Prince Charles that she would take steps to strengthen the UK’s digital financial plan. After the news of the sovereign’s death, a number of series of digital artwork were created to pay a sincere tribute to the Queen, who was also loved by the people of the Web3. Discover the main NFT collections dedicated to Queen Elizabeth II!

NFT collections dedicated to Queen Elizabeth II

A few hundred NFT collections dedicated to Queen Elizabeth II were created on various blockchains including Ethereum, Polygon and the Binance Smart Chain. Beyond non-fungible tokens, meme coins such as Queen Elizabeth Inu, QueenDoge and Rip Queen Elizabeth have also popped up.

So, why are all these NFT collections about Queen Elizabeth appearing? For some it may have just been a way to exploit the media buzz of one of the biggest news stories of 2022. However, for most digital artists it was a real tribute to the most famous and beloved monarch ever. Digital artists have indulged in depicting the Queen in different styles and ways, but these celebratory tokens are not necessarily so recent. Some had chosen to depict the Queen and transpose her art onto blockchain before. These collections are of course now back in the limelight. Among the latter is QueenE DAO which is inspired by the DAO NFT Nouns.

QueenE DAO, become a member of the ‘British Parliament’

The QueenE DAO collection is an NFT project that was released in July 2022. It follows in the footsteps of the famous NFT Nouns DAO project. A DAO, or Decentralised Autonomous Organisation, is a type of organisation that is managed by smart contracts and that has a decentralised structure. Nouns is a Web3 platform built on the Ethereum blockchain, with the goal of building a project that is fully managed by all users who own the project’s native NFTs. This is made possible by periodic voting in which only those who own at least one NFT can participate. At this point, Nouns is pretty much an exclusive club, where everyone can get to know and interact directly with all the users who are part of the project. Very few people own Nouns NFTs .Few of them are minted, at the rhythm of one per day for just over a year. Let’s see how it works! On Nouns.wtf, the platform where Nouns’ digital artwork can be purchased, an NFT is generated every day consisting of a few traits that are randomly combined. Users who want to obtain the NFT can ‘challenge’ each other to bid in Ether until the auction ends exactly twenty-four hours after the digital artwork has been created. All Ether collected by the DAO is stored in a ‘common’ wallet whose contents are constantly visible to all users.

The QueenE project mirrors the features and ideas of Nouns. Instead of avatars depicting sharks or unicorns, QueenE’s NFT digital artworks are portraits of Queen Elizabeth that retain the pixelated style. QueenE’s NFTs are composed of six features including the background, face, clothing, head accessory, jewellery and portrait frame. These traits, as is often the case in NFT collections, are classified by rarity. 85% of the traits are common, 10% are rare and 5% are super rare. The rarity of NFTs will be linked to the voting power within the DAO. Voting power will be exercised within the QueenE parliament divided, as in reality, into two chambers. The House of Commons, composed of those who own at least one common QueenE NFT, and the House of Lords whose seats are reserved for owners of rare, super rare or legendary QueenE NFTs. Commons NFTs secure one vote for each NFT owned, while rare, super rare or legendary NFTs secure two votes.

QueenE’s revamped ‘treasury’ is the UnCommonwealth Treasury. Just like Nouns DAO it is also managing the project’s funds in a transparent manner. The QueenE DAO, which had been ‘dormant’ until a few days ago, saw an increase in sales volumes on the occasion of the passing of the iconic monarch. Will the love of the people of Web3 for the late Queen Elizabeth II triumph? Surely the NFT collections created to celebrate the monarch will remain as indelible memories engraved on blockchain.

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The Merge and Young Platform: what will happen to your ETH?

The Merge and Young Platform: deposits, withdrawals and airdrops

Get ready for The Merge: everything you need to know about the impact of the Ethereum update on Young Platform

*Updated 14/09/2022: new features for the Earning Wallet functionality.

As an additional security measure for the funds of Young Platform users and in agreement with our partner provider of the Earning functionality, the Earning Wallet functionality will also be suspended during The Merge. All information can be found in the last paragraph of this article. 

The Merge, the update that will make Ethereum a Proof-of-Stake blockchain, is just around the corner. This is one of the biggest and most impactful updates in the entire crypto industry. In fact, Ethereum is the blockchain on which most of DeFi and NFTs are built and Ether, its coin, is the second largest crypto by market cap.

You may have wondered if the activation of the historical update will have consequences for your ETH. Here is what will change on Young Platform with The Merge.

Temporary suspension of ETH deposits and withdrawals

Deposits and withdrawals of Ether (ETH) and ERC-20 tokens on Young Platform will be suspended as of the 14th of September 2022 (10 pm UTC).

We recommend that you complete your transactions in advance of this date so that deposits and withdrawals are properly processed. Deposits made close to this date may not be counted in a possible Ethereum hard fork.

Your tokens will remain safe in your Wallet and during The Merge you will not have to perform any specific operation. Everything will be handled by Young Platform. You are free to convert your Ether before The Merge but this is not a necessary action. Likewise, your ETHs locked in the Earning Wallet section will not be affected by the Ethereum update.

Temporary suspension of MATIC, AVAX and FTM deposits

Deposits of Polygon (MATIC), Avalanche (AVAX) and Fantom (FTM) will also be suspended from the same date and time : the 14th of September 2022 (10 pm UTC)

Will there be a new Ethereum 2.0 token? What will happen to my ETHs after The Merge?

After the activation of The Merge update on the Ethereum blockchain, two possible scenarios could occur:

1. No new token will be created:

The Ethereum blockchain will switch to the Proof-of-Stake mechanism without a hard fork. In this case, there will be no substantial changes for ETH holders and Young Platform will rehabilitate deposits and withdrawals as soon as possible;

2. A new token will be created:

During The Merge, the Ethereum blockchain could undergo a hard fork and thus split and create a new token. In this scenario, one chain will operate under the new Proof-of-Stake consensus mechanism, while the other will retain Proof-of-Work. In this case Ether (ETH) will be assigned as the coin of the new Ethereum 2.0 Proof-of-Stake blockchain. Meanwhile the new token (ETHPOW) will replace the ETHs of the Proof-of-Work chain and will be distributed via an airdrop.

The distribution of the new token will be calculated on the basis of a snapshot concurrent with the activation of The Merge. A snapshot means that establishes which users possess ETH and in what quantity.

So, what will happen on Young Platform at this point? Should Ethereum’s hard fork occur, detailed updates on how the new token will be airdropped and what is new for the exchange will follow.

The hard fork and the creation of the new token are currently only a possibility, not a certainty.

In any case, before deciding whether to support the new token, Young Platform will subject it to all the verification procedures typical of any listing. Announcements regarding the new token will be made in a dedicated announcement.

What will happen to the Earning Wallet with The Merge? (Updated 14/09/2022)

From the 14th of September 2022 (10 pm UTC) onwards, and until further notice, it will not be possible to activate a new Earning with the Earning Wallet functionality or to deactivate an already active Earning. 

This means that during the suspension period:

  1. You will not be able to stake or unstake your cryptos in the Earning wallet until the end of this period
  2. Automatic renewals will be disabled until the end of this period
  3. The counting of rewards related to activated Earnings will continue uninterrupted.

In summary, you have these options: 

  1. Activate new Earnings before the 14th of September 2022 (10 pm UTC), your rewards will continue being counted as normal;
  2. Deactivate your already active Earnings before the 14th of September 2022 (10 pm UTC) to unstake your cryptos and send them to your Spot Wallet. Caution: if you deactivate an Earning before the end date indicated on the app, you will lose the accumulated reward.
  3. Keep your Earnings active and continue to claim rewards

Follow the activation of The Merge on the Young Platform Blog, if you have further questions, please contact the Support Centre.

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LG and Hedera design an NFT marketplace compatible with smart TVs

Buy NFTs with Smart TVs thanks to LG and HBAR

In collaboration with the Hedera blockchain, LG launches the LG Art Lab. Display your digital artwork and buy NFTs with HBAR on your smart TV !

Would you like to display your favourite NFTs and show them to your friends in your living room? Thanks to a new initiative of the tech company LG, in collaboration with the Hedera blockchain, you can now display your digital artwork and buy new ones through your LG smart TV. All from the comfort of your sofa! LG Art Lab is the name of the collaboration project with Hedera. It is a real NFT marketplace, where you can buy NFTs with the HBAR token, which will be accessible directly from your TV. Find out how to buy NFTs with the HBAR crypto, and how to turn your home into a digital art gallery!

Exhibiting NFTs? LG and the digital art gallery!

LG Art Lab is an NFT platform announced on the 5th of September 2022, which will be launched by the end of 2022 on the Hedera blockchain. This is not the first time the two companies have come into contact. In fact, LG has been part of Hedera’s board of directors since 2020. The marketplace and its application should be available by the end of the year in the United States. It will allow users to buy, sell and display digital artwork. The special feature of this marketplace is that it will be easily accessible and compatible with LG smart TVs. It is the perfect medium to display your NFT collection, thanks to the exceptional resolution quality of the images. LG Art Lab will function like a classic NFT marketplace, such as OpenSea, with the difference that purchases will be made with the HBAR token. The section dedicated to buying NFTs is called Drops, where artist profiles and previews of new works coming soon will be available with a countdown so you won’t miss anything new.

To enable users to purchase NFTs with the HBAR token directly from their smart TV, LG is also launching the Wallypto crypto wallet. By connecting to the LG Art Lab platform, the wallet will allow users to view all NFTs they own, as well as their available HBAR token balance. The platform will initially only be available for the US market. As can easily be guessed from the platform’s name, art will be the major focus of the application. The first partnership has already been unveiled, the featured artist will be Barry X Ball!

The first collection on LG Art Lab by Barry X Ball

Barry X Ball is a contemporary sculptor and artist famous for his interpretations of classical sculpture and modernist art created with cutting-edge techniques such as 3D printing and scanning.

Barry X Ball will make his debut in the digital art world with his first NFTs in a collection entitled “Metal” right on the LG Art Lab platform. Thanks to the resolution of LG smart TVs, users will be able to view all the textures, details and materials (including precious metals and stones) used in the artist’s sculptures.

LG chooses Hedera’s green blockchain

Why did LG choose Hedera for its NFT marketplace? The Hedera blockchain, which is a product of the HBAR Foundation, describes itself as an enterprise blockchain that can process transactions very cheaply and quickly. But how are Hedera and its HBAR token so efficient and cheap? The answer to this question lies in the way transactions are recorded on the network. A new structure called Directed Acyclic Graph (DAG) was designed by software engineer Leamon Baird, who founded the project in 2015. Thanks to this, Hedera is able to process up to 10 thousand transactions per second.

Hedera’s blockchain works via a Proof-of-Stake consensus algorithm, called hashgraph. In addition to providing speed and scalability to the network, it is geared towards environmental sustainability. The latter is a value that the HBAR Foundation and its Hedera blockchain have adopted since their inception in 2017. The development team has been and is still committed to ensuring the network’s carbon neutral status by purchasing quarterly carbon credits (carbon offsets). The amount of these credits has been determined by TerraPass, an independent emissions assessment company.