NFTs: David Bowie’s collection coming soon on OpenSea

NFTs: David Bowie’s collection is coming to OpenSea

The icon of pop is celebrated with an NFT collection: discover nine Web3 artists’ tribute to David Bowie!

David Bowie, the timeless artist who helped define the pop genre in the 1980s, is now appearing on OpenSea with the ‘Bowie on the Blockchain‘ collection.

The project involves the launch of a series of NFTs entirely dedicated to the White Duke. NFTs, or non fungible tokens, are digital products whose uniqueness and value are guaranteed thanks to blockchain. The NFT trend, which took off in 2021, often involves traditional artists such as singers, performers and painters. It opens the door to new horizons of digital art.

Continue reading this article to discover details about NFT’s new collection dedicated to David Bowie!

Bowie on the Blockchain: details of the collection

The ‘Bowie on the Blockchain’ project was conceived by the David Bowie Estate, an association that manages the artistic heritage inherited by the White Duke. The initiative came about thanks to a collaboration with OpenSea, one of the most important marketplaces for NFT purchases, and the We Love the Arts project, founded by Andrew Keller, artist manager and founder of the We Few Group company operating in the art consultancy sector, and filmmaker Joaquin Acrich. We Love the Arts is entirely dedicated to the digital works of Web3.

The proceeds of the initiative will be donated to Bowie’s widow, Iman Abdulmajid, and her charity CARE, a humanitarian organisation that has been working against poverty and gender inequality worldwide for almost 80 years.

The NFTs were developed on the Ethereum blockchain and will be available for purchase through Opensea’s marketplace. The launch of the collection, initially scheduled for the 13th of September, was postponed until a later date due to the sudden death of Queen Elizabeth II. This decision has been criticised by many David Bowie fans: in 2003, the artist refused the title of Knight of the Order of the British Empire, offered by Buckingham Palace.

This NFT project dedicated to David Bowie involves numerous artists already established in the world of crypto art. The peculiarity of the initiative is the heterogeneity of the digital works, created by artists with very different styles. There are specifically nine NFT artists who contributed to the project. FEWOCiOUS, Defaced, Glam Beckett, JAKE, Jonathan Wolfe, Lirona, Nadya Tolokonnikova of PussyRiot, Osinachi and Young & Sick.

Some of these names represent the most important personalities linked to the NFT sector. FEWOCiOUS, at only 19 years old, has managed to earn almost 18 million dollars with his digital works. Growing up in an unfriendly family environment, he was able to express his emotions and communicate with others thanks to NFT. The artist himself has described himself as a big fan of David Bowie.

On the other hand, Osinachi is an artist who grew up in a country with a strong interest in NFTs : Nigeria. His style is distinguished by his collage-like, brightly coloured works.

On Twitter, some artists have decided to share small details about the NFTs they have developed. However, at the moment, it is not possible to view the entirety of the piece previews leaked by the artists and wait for the official launch of the collection.

One of the early pioneers of the Web? David Bowie’s interest in technology

The decision to create an NFT collection to honour David Bowie lies above all in the artist’s interest in the world of technology and the web. In the 1990s, when the Internet was beginning to make its way into everyday life, the singer not only launched his official website, but also his own Internet Service Provider. With this service, Bowie gave his fans the possibility to surf the net safely and quickly and to access exclusive content about his private life.

Bill Zysblat, the artist’s former manager, commented on the initiative in an interview with Billboard. He states David Bowie would certainly have been one of the first artists to exploit the potential of Web3.

Although the initiative is exclusively aimed at raising funds for charity, the news of the launch of the new NFT collection has turned quite a few noses within the David Bowie fanbase.

The announcement of the project was heavily criticised by some users on Twitter. Duncan Jones, David Bowie’s son, commented negatively on the initiative, criticising the use of NFTs as a fundraising tool.

More and more artists are getting involved in the NFT world

The NFT collection about David Bowie is certainly not the first crypto initiative launched by prominent figures in the music world or in honour of great personalities now deceased. The Non-Fungible-Tokens, in fact, are not exclusively drawings or graphic works, but can also be entire songs.

In May 2022, Snoop Dogg, the US based rapper and leading representative of the g-funk genre, and Steve Aoki, a US based DJ, launched an album available as NFT. The tracks can only be listened to by holders of the Snoop Stashbox or Aokiverse Passport NFT token, who were created by the artists to celebrate previous events.

Even Madonna, ‘The Queen of Pop’, decided to launch her own NFT collection in May 2022, consisting of three pieces of digital art.

The project, entitled ‘Mother of Nature’ and available for purchase on SuperRare, was created with the cooperation of Beeple, a well-known NFT artist. As with David Bowie’s collection, the proceeds from the sales of the works were donated to three charity organisations: The Voices of Children Foundation, The City of Joy and Black Mama’s Bail Out.

With ‘Space Oddity’ in our headphones, we can only await David Bowie’s arrival on the blockchain.

LUNA 2.0 airdrop on Young Platform

Luna 2.0: airdrop and listing on Young Platform

Find out all the details of the LUNA 2.0 airdrop on Young Platform: the listing date, the amount of tokens and whether you’ll receive them

Before going into the details of the event, let’s pick up where we left off on the Terra (LUNA) affair.

In case you have been living as a hermit under a rock for the last 4 months: in May of this year the algorithmic stablecoin UST and LUNA collapsed, along with the entire DeFi ecosystem they were supporting, including founder Do Kwon.

Even the best traders and institutions had believed in the ambitious project and suffered huge losses as a result. Following the event, you may remember that we too had to urgently delist what is now LUNC.

In reaction to this crisis, a fork was announced that rendered the old Terra blockchain, and thus the old tokens and coins, obsolete. These took on the name ‘Classic‘, while the new chain and cryptos inherited the original name ‘Terra’, ‘LUNA’, and ‘UST’. The latter are also called ‘Terra V2‘ or ‘LUNA 2.0‘ to avoid confusion.

As is often the case with forks, there was also talk of an airdrop of the new LUNAs, and this is where we left off.

We can now finally reveal how the airdrop of the LUNA 2.0 crypto will work on Young Platform.

Who will receive the LUNA airdrop on Young Platform?

Is there a key word you need to know to take advantage of this airdrop? ‘Snapshot’.

Snapshot is the term commonly used to refer to the precise instant at which a “picture” of the status of the entire blockchain in question is ‘taken’ and is considered to be valid for deciding who is entitled to the drop or not.

Two snapshots were taken for the LUNA 2.0 crypto:

  • 7th of May at 14:59 UTC;
  • 26th of May at 16:38 UTC.

If you had LUNA on Young Platform at that time, you are entitled to receive LUNA V2.

How many LUNA 2.0s will you receive?

  • If you owned LUNA on Young Platform during the snapshot on the 7th of May, you will receive 1.034735071 LUNA2 for every 1 LUNA you held

The airdrop will then be at a ratio of 1 : 1.034735071

  • If you owned LUNA on Young Platform during the snapshot on the 26th of May, you will receive 0.000015307927 LUNA2 for every 1 LUNA you kept

The airdrop will then be in the ratio 1 : 0.000015307927

This means that if you held LUNA during both snapshots, you are entitled to both airdrops.

When will you receive the LUNA 2.0 airdrop?

On Thursday the 29th of September at 14:00 UTC, both LUNA 2.0 airdrops will be distributed to all eligible persons.

The LUNA 2.0 crypto will be available for storage and trading

Aficionados of the community will have understood this already from the title: it is an airdrop, but also a listing in its own right. 

As was the case with Ethereum Proof-of-Work: with this airdrop, we want you to be able to do all the things you need to do to make the most of this new crypto.

Also from Thursday the 29th of September at 14:00 UTC, you will be able to store, withdraw, deposit, buy and sell LUNA 2.0 with Euros, on both Young Platform and Young Platform Pro.

Young Monday: more BTC for Michael Saylor, DC Comics NFTs, Colorado opens up to crypto

Michael Saylor buys more Bitcoin, DC Comics NFTs and Colorado

How much Bitcoin does Michael Saylor hold after his September 2022 buys? DC Comics Funko Pop NFTs arrive and in Colorado, you can pay your taxes in crypto!

What happened this week in the world of crypto? Let’s take a look at the three most interesting news stories of the week in this edition of Young Monday! We talk about shopping in style, the next NFT obsession and crypto adoption. Michael Saylor, the founder of US company MicroStrategy, is back to buying Bitcoin after his summer ‘hiatus’. MicroStrategy now has a nice haul: 130,000 Bitcoins! Comic book publisher DC Comics is set to release a collection of NFT comics in collaboration with Funko Pop and WalMart, and in the US state of Colorado it is finally possible to pay taxes in cryptocurrency.

Michael Saylor gets back from holiday and buys 301 Bitcoins!

How is Michael Saylor doing during the bear market? As we can read from the 20th of September 2022 report of the SEC (the US government agency in charge of regulating the market), Saylor bought about $6 million in Bitcoin between the 2nd of August and the 19th of September 2022. This is his first real purchase since June 2022, when the company had bought 480 Bitcoins worth about $10 million.

Given the large amount of purchases made by MicroStrategy in recent years, a question arises. How many Bitcoins does Michael Saylor hold? To date, about 130,000, for a current value of $2.5 billion. However, the bear market spares no one, and even Michael Saylor seems to be losing. MicroStrategy’s average purchase price for each Bitcoin it owns is $30,639. The US company spent about $3.9 billion to buy its holdings of 130,000 BTC, about $1.4 billion less than they are worth today.

However, Saylor doesn’t seem to care about this figure. As we can see in this tweet, the founder of MicroStrategy doesn’t reason in terms of dollar price. 130,000 Bitcoins is 130,000 Bitcoins. Well what can we say Michael, we can’t blame you!

Official DC Comics NFTs? Yes, thanks to WalMart and Funko Pop!

If you are a fan of the genre, you absolutely cannot miss DC Comics’ NFT comic in collaboration with Funko Pop! The two brands have already started a Web3 collaboration by jointly creating NFT collector cards on the WAX blockchain. These NFTs are already available for purchase on the main NFT marketplaces on the WAX blockchain such as NFTHive or AtomicMarket. A new collaboration between DC Comics and Funko Pop will open on the 7th of October 2022, with the entry of another well-known brand: US retail giant WalMart. Limited-edition covers of ‘The Brave and the Bold’ comics will be produced and can be purchased in WalMart stores.

The comic will be sold in a box featuring Funko Pop versions of the superhero protagonists engaged in a battle with an octopus-like monster.

The comics for sale will be available as 30,000 pieces, and the lucky ones who manage to grab a copy will later be able to redeem the NFT version. There will also be 30,000 NFT versions, and  they will be redeemable on the WAX blockchain. The WAX blockchain (an acronym that stands for World Asset eXchange) is one of the most widely used networks in gaming and digital collectibles. The most popular Web3 games that make use of the WAX blockchain are Animal World, Castles NFT and Real Magnate. Among the video game brands it collaborates with are Atari, Topps and the action figure company Funko, who have been keen for some time to develop digital collectibles initiatives using Web3 technologies.

The State of Colorado allows for taxes to be paid in crypto

In the US state of Colorado, taxes can now be paid in crypto! The ‘Digital Token Act’ that was passed by the state of Colorado in 2019 finally came into force, three years later. Payments for taxes will only be accepted through PayPal, a US company founded in 1999 by Confinity offering digital payment and money transfer services. The announcement of the law’s entry into force was made on Thursday, the 15th of September 2022 by Colorado Governor Jared Polis, who said: “The state of Colorado has always been at the forefront of digital innovation, whether it’s applying blockchain technologies as a new financial model, or being consumer-centric in enabling businesses and government agencies to innovate to make processes faster and more efficient. To date, Paypal accepts Bitcoin, Ethereum, Bitcoin Cash and Litecoin as payment methods.

ETHW on Young Platform: Airdrop and Listing dates 

Good news for the Ethereum Proof-of-Work (ETHW) airdrop. Find out all the details on the listing and the Earning Wallet

In previous episodes on ETHW’s airdrop, we talked about the consequences of the Merge, but there were still many loose ends and events with unpredictable outcomes. Today we finally have the answers to these questions, but let’s proceed in order. ETHW is coming to Young Platform, find out about the airdrop and listing dates!

ETHW’s Airdrop is also confirmed for Earning Wallets

All’s well that ends well: our Earning Wallet provider was able to support the new ETHW coin. So even those who had ETH in their Earning Wallet during the 6:42 UTC snapshot on the 15th of September can now receive the ETHW airdrop.

To sum it up, you are entitled to the airdrop if:

  1. On the 15th September 2022 at 06:42 UTC, you had ETH in your Spot Wallet;
  2. On the 15th September 2022 at 06:42 UTC, you had ETH activated in your Earning Wallet.
  3. You deactivated the Earning Wallet functionality for ETH before the 15th of September 2022 at 06:42 UTC, but your ETH had not yet been transferred from the Earning Wallet to the Spot Wallet.

When will the ETHW airdrop arrive on Young Platform? 

If you match cases 1 and 3, i.e. if you had ETH in your Spot Wallet or you had ETH exiting your Earning Wallet at the time of the snapshot, you will receive the airdrop on Wednesday the 28th September at 2pm UTC.

But would this airdrop have any point if the coin was not also listed? This is why we decided to add ETHW to the exchange’s offerings so that if entitled you can freely choose what to do with your new cryptos.

From the 28th of September at 2 p.m UTC, you will be able to hold, withdraw, deposit, buy and sell ETHW. Trading will only be available in Euros. In other words, the only pair listed will be ETHW-EUR on both Young Platform and Young Platform Pro. 

If you match case 2, i.e. you had ETHs locked in your Earning Wallet at the time of the snapshot, you will receive the corresponding airdrop on Wednesday the 5th October at 2pm UTC. 

Now that you have noted all these important dates, let’s get down to business: how much ETHWs will you receive?

The answer is simple: for every ETH you owned at the time of the snapshot on Young Platform, you get ETHW in a 1:1 ratio.

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.

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.

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.

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”.

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.

Young Monday: Ballon d’or, Starbucks and Norway’s CBDC on Ethereum

Starbucks and Polygon, Ballon d’Or NFTs and Norway’s CBDC

Starbucks unveils its Odyssey platform on Polygon, the Ballon d’Or will also be an NFT and the Norwegian Central Bank launches its CBDC

Cryptocurrency history was written this week thanks to Ethereum’s much-anticipated update, The Merge, which successfully took place on Thursday the 15th of September 2022. It was certainly the news of the week (if not the year) but the world of crypto is always in turmoil and has so much more to offer! Starbucks unveiled its Odyssey NFT platform that will be developed on the Polygon blockchain. The most important award in football, the Ballon d’Or, will also be released as an NFT, and the Norwegian Central Bank has chosen Ethereum for the development of its digital currency.

Starbucks enters the Web3 with its Odyssey platform

Impossible to start Monday morning without a hot cup of coffee! This week’s Young Monday is no exception thanks to the new collaboration between Polygon and Starbucks. The coffee franchise officially unveiled the Starbucks Odyssey initiative on Tuesday the 13th of September 2022, a Web3 platform built on the Polygon network. Starbucks Odyssey will work in a similar manner to the loyalty programme called Starbucks Rewards, which has already been running for some time and grants customers rewards in exchange for the ‘stars’ they earn from their purchases.

Through the Odyssey platform, Starbucks wants to take the relationship between the brand and their customers to the next level by allowing users to obtain a wider range of rewards and creating a real community. Thanks to Odyssey, Starbucks customers (only in the US for the time being) will be able to obtain and purchase digital collectibles and unlock exclusive experiences, all of them coffee-themed. “Leveraging Web 3.0 technology will allow our members to access experiences and ownership that was not possible before. Starbucks Odyssey will transcend the foundational benefits that our Starbucks Rewards members have come to love, and unlock digital, physical and experiential benefits that are uniquely Starbucks.” explained Brady Brewer, CMO of Starbucks.

To develop the project, Starbucks brought in Adam Brotman as a special consultant. He is the mastermind behind the Mobile Order & Pay system and the Starbucks app. Brotman recently founded Forum3, a Web3 startup that aims to redefine the relationship between consumers and brands through NFTs and cryptocurrency technologies.

The 2022 Ballon d’Or will also be an NFT

The world of football and NFTs are very much in sync lately. Following last week’s news about World Cup NFTs coming to Algorand, it was revealed that the winners of the 2022 Ballon d’Or will also receive an NFT version of their trophy. The ceremony will take place on the 17th of October 2022 at the Théâtre du Châtelet in Paris. For the second year running, the Socios platform on Chiliz was selected as the official Web3 partner. The winner of the 2022 Ballon d’Or will not only be engraved on the famous golden trophy but will also for the first time be registered on the blockchain in the metadata of a smart contract. France Football, the French awarding magazine, has not yet specified which blockchain the NFT will be created on.

In addition to the men’s and women’s Ballon d’Or NFTs, which award the best player and the best female player on the planet, three other prizes will also be handed out. The Kopa Trophy (best young talent), the Yachine Trophy (best goalkeeper) and the Müller Trophy (best striker). The highest-ranked winner for the Ballon d’Or 2022 seems to be French striker Karim Benzema, who is already familiar with the world of NFTs, having previously launched his own NFT collection called KB Metaclub.

The Central Bank of Norway chose Ethereum for its CBDC

Last week saw a successful completion of Ethereum’s update, The Merge! However, the news concerning Ethereum does not end there! The Norwegian Central Bank has reached an important turning point with regard to the development of its CBDC, i.e. its digital currency. What is a CBDC? Central Bank Digital Currencies (CBDCs) are digital currencies issued by a central bank. Just like cryptocurrencies, CBDCs are digital currencies, but they are issued by a government and are therefore centralised. The Norwegian CBDC will be an ERC-20 token, around which various financial services will be built. The Norwegian Central Bank’s project is supported by Nahmii, a scalability solution for Ethereum.