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What will happen if Elon Musk brings crypto to Twitter?

Cryptocurrencies arrive on Twitter thanks to Elon Musk?

What role will cryptocurrencies play in Elon Musk’s new Twitter? Can it really become a decentralised social network?

Twitter is the platform on which the crypto community moves and also where the main topics of the sector are discussed. With over 300 million active users, it is one of the social networks with the most cultural and political influence. Since the social network has a new owner, some have wondered whether cryptocurrencies will arrive on Twitter thanks to Elon Musk. The entrepreneur’s ideas about Twitter’s crypto future are currently unclear. And that is why there are those who are beginning to move on to alternative, decentralised social networks.

The story of Elon Musk who (maybe) wanted to buy Twitter

After months of back-and-forth and twists and turns, Elon Musk finally bought Twitter for $44 billion. It all started in April 2022 when Musk became Twitter’s largest shareholder with a 9.2 per cent stake. The entrepreneur at first wanted to join the board of directors, then offered to buy the social network at $54.20 per share. However, after signing a binding agreement, Musk had second thoughts, complaining about the excessive presence of bots and scam profiles on the social network. In July, Musk announced that he would buy Twitter because the social network had meanwhile sued the entrepreneur to force him to comply with the agreement. Musk could not change his mind so easily! So in October the deal was finalised.

On the 29th of October, the day of the official takeover, Twitter’s shares closed trading up 0.3% at $53.86 and the following Friday Twitter was delisted from the New York Stock Exchange. Elon Musk entered the headquarters of the social network and the first thing he did was to fire some Twitter managers and employees.

After the takeover: Elon Musk’s plans for Twitter

After buying Twitter and becoming its owner, Elon Musk shared a series of tweets to explain his future plans. It would appear that Musk wants to create an ‘all-in-one’ app that is not only a social network, but also a platform for shopping, messaging and money transfers.

The changes being discussed are:

  1. Ensuring maximum freedom of speech and expression;
  2. Fight against scam profiles and eliminate scams;
  3. Review policies on advertisements and advertisers;
  4. Monetising content to favour creators;
  5. Establish a paid subscription for verified accounts at $8 per month;
  6. Enabling payments in Dogecoin.

Musk has not yet announced a precise roadmap, the possible innovations for the social network are all sketched out in tweets and statements. The community and Twitter users have been commenting and asking questions for days, and several controversies have arisen. The one that stands out (and is most worrying) is the possible rehabilitation of censored accounts like Donald Trump‘s.

What happens if cryptos enter Twitter?

Is Elon Musk’s takeover of Twitter good for the crypto world? There are reasons to think that the answer is ‘yes’, however the hopes of seeing Twitter decentralised are not high. We know that in the crypto world, Elon Musk is capable of moving the markets, and his entry into Twitter has boosted the price of Dogecoin (DOGE). After all, it is no mystery that Musk is a holder of DOGE and BTC (through Tesla).

However, the link between cryptocurrencies, blockchain and Twitter remains very vague. The most plausible option is to introduce crypto as a payment system and dedicate sections to NFTs. Twitter in fact already offers functionality for non-fungible tokens and the use of cryptos could be facilitated by the collaboration with Binance, which participated financially in the acquisition. On the issues of monetisation of content, data ownership and governance there are still no indications. Therefore, many are sceptical about the possibility of Twitter becoming a Web3 social network.

The decentralised alternative to Twitter: Mastodon

On hearing the news of the change of owner, many users moved elsewhere, to less centralised ‘social’ solutions. In the four days following the takeover, 120,000 people registered with Mastodon, a decentralised and open source (but not on blockchain) social network. Mastodon was born in 2016 from the idea of Eugen Rochko who was disappointed with Facebook’s data management and security policies.

Mastodon is organised in ‘lists’ or ‘interest groups’ to which one can subscribe and write and read ‘toots’ (the equivalent of ‘tweets’). Mastodon has a strong policy on data ownership and proudly states that ‘It is not for sale’. Nothing on Mastodon can be decided by companies or advertisers, all decisions are up to the users. Just as content is not determined by algorithms or advertising. At the moment Mastodon has about 4 million users. Other decentralised social alternatives are making their way, but the most eagerly awaited is Bluesky. The social on blockchain that is being planned by Jack Dorsey, the founder of Twitter.

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Who stole Sex.com? The domain that took everyone to court

Sex.com: the internet domain theft worth 14 million dollars

In 1995, one of the most expensive domains in Internet history was stolen under mysterious circumstances. Here is the story of the theft of Sex.com!

Would you expect drama, mystery and bounty hunters from the affairs of an Internet domain? The reports from the Web are surprising, especially those from the beginning of its history. Similarly to the Crypto.com domain, Sex.com was disputed by many. At stake were court cases, millions of dollars and an epic scam. If blockchain had been involved in this story and if Sex.com had been an NFT domain, would things have turned out differently?

The mysterious theft of the Sex.com domain

This story takes place mainly in a US courtroom. On one side we find Gary Kremen, an engineer and businessman, who was clever enough in the 1990’s to register a series of generic domains such as Jobs.com, Housing.com and Sex.com. On the other, Stephen Cohen, a hardened fraudster, who became his worst enemy. Kremen had registered the domain Sex.com in 1994, the year he also founded the online dating site, Match.com.

Eight months after registering the domain, the engineer received an unusual message informing him that the email associated with the Sex.com domain had been changed. For Kremen, this was suspicious and upon checking, he realised that the domain ownership information had been changed. In other words, Kremen was no longer listed as the rightful owner of Sex.com. The engineer immediately called the indicated helpline number to ask why instead of his name there was that of a stranger, on the phone he found Cohen’s calm voice: ‘because the domain is not yours’. From here on, for the next twenty years, Kremen and Cohen will chase each other playing cops and robbers between the United States, Mexico and the rest of the world.

Could blockchain save the Sex.com domain?

It was initially unclear how Cohen had managed to pull off the theft of Sex.com, a domain worth millions of dollars even then. Apparently, Cohen cheated Network Solutions, the company that had sold the domain to Kremen, by posing as the new owner with a forged letter. Once he had obtained the domain, Cohen started to run the site by selling advertisements and earning half a million dollars a day. All this at a time when there was no Google or search engines, and people surfed the Internet using domain names directly. And not surprisingly, the word ‘sex’ attracted many curious people. Daily visitors to the Sex.com site hit record figures for the time.

Would the theft of the Sex.com domain happen with blockchain? Unlike traditional internet domains managed by centralised providers, the certification of ownership of NFT domains is immutably recorded on the blockchain and therefore difficult to falsify. Perhaps it would not have been so easy for Cohen to steal Sex.com if it had been an NFT domain. You cannot send letters to the blockchain and ask it to modify a smart contract. As with all NFTs, the NFT domain information is transparent and certifies that it is unique and in your possession. And anyone at any time can verify this. This is why NFT domains are used to keep your identity safe on the Internet. 

Manhunt in Mexico and Sex.com today

After five years of litigation, Kremen won the case and a precedent was set. Domains are in effect property, even if intangible, and therefore can be stolen. In 2001, Sex.com was returned and Cohen was ordered to pay Kremen $64 million in damages for lost profits from the use of the site. Here begins the second part of the incredible story of the Sex.com domain. Cohen, in order not to reimburse Kremen, fled across the border to Tijuana. The engineer then plastered the Mexican city with ‘wanted’ signs worthy of an old western film and thus unleashed bounty hunters who were unsuccessful. Kremen is still looking for Cohen.

Meanwhile, in 2006, Kremen auctioned Sex.com, which was bought by Escom for USD 14 million. After just four years, Escom was forced to sell the domain because it could not repay its debts and was about to face a lawsuit for insolvency (another trip to court). In 2010, Sex.com passed to Clover Holdings for USD 13 million. Currently, the domain is associated with a pornography site where users can upload and share with other users.

The story of the internet domain Sex.com is key to understanding why the internet needs the blockchain. On the Ethereum Name Service, a platform to buy NFT domains on Ethereum, the NFT domain “Sex.eth” was registered in 2019. While Unstoppable Domains‘ “Sex.crypto” was sold for 230 ETH (about $90,000) in 2020, making it the most expensive “.crypto” domain to date.

Will history repeat itself? Maybe even NFT domains with a ‘sex’ theme will be contested like Sex.com, for sure there will be a blockchain to support them with all its advantages.

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6 ways to use your Monuverse NFT

6 ways to use your Monuverse NFT

In preparation for the release of Episode I of Monuverse’s NFT collection, let’s explore 6 ways of using them

Let’s recap how the collaboration between Monuverse and Young Platform works, explained in full in this article.

By the 9th of November at 5 p.m. (UTC), Club members who want to attempt to be whitelisted must register with their wallet address on the whitelist page (check your email for link and password).

Those who are on the whitelist will be able to purchase and mint a maximum of 3 NFTs at the advantageous price of 0.07 ETH each on 11 November from 5 pm to 7 pm (UTC).

Once purchased, you can display your NFTs on OpenSea and similar applications.

Remember you will be able to see the real image or video you have purchased  only after the Reveal phase is completed.

Once you have obtained the NFT and discovered its contents, there are 6 benefits and uses to which you have access.

1. Protection and promotion of cultural heritage

You are officially a Web3 philanthropist: by purchasing an NFT, you are helping to fund the preservation of the Peace Arch. And, by purchasing future Episodes, you will do the same for other monuments.

For Episode I, the Milanese monument protection organisation will receive 12% of the royalties from your purchase in the primary market (minting), while in the secondary market it will receive 1%.

In metaverse galleries, on compatible social networks and on your screens at home, you will be able to display and promote your work freely. The blockchain will irrefutably tell your story about how you helped preserve an artistic work.

2. Web3 Community

Crypto communities are typically found on messaging and social apps, e.g. Discord, Reddit, Telegram, while projects and teams communicate mainly on twitter (for now). Monuverse also has a Discord server for its patron community and a Twitter profile for official communications.

As is often the case, the possibility of participating in events and conversations with the team is much higher for owners of rare NFTs.

3. PFP and Avatar

There are different types of NFTs. Among them, PFPs are very popular on social media. They are simply NFTs used as profile pictures, so they are usually static images representing the face of a character. The NFTs of the Bored Ape Yacht Club for example are widely used as profile pictures.

An Avatar, on the other hand, is a 3D version of a character. It is usually used in video games or simply in a metaverse and is often customisable through accessories and skins.

Monuverse gives its community a PFP and an Avatar in the metaverse it is building, and you can use them not only on Monuverse, but on most Web3 applications.

Each Episode corresponds to PFPs and Avatars that reflect the historical period or culture of the chosen monument. So, for example, for Episode I, centred on the Arch of Peace, characters from the Napoleonic era will be distributed.

4. Whitelist

Owning a Monuverse NFT grants you priority access to the whitelist of future episodes. This means that you can mine your NFT at a cheap price compared to the public sale price. The rarer your NFT is, the more likely it will be to be whitelisted.

5. Voting rights

You can vote with the rest of the community to choose the next monuments that Monuverse will commit to replicate and protect. From the roadmap, the team also plans to create a more extensive voting system for the community and a DAO to reward active user participation.

6. Buying and selling

Of course you can resell your Monuverse NFTs either before the Reveal phase or afterwards, on the secondary market of OpenSea and other aggregators such as LooksRare, Rarible, x2y2. You can sell as many as you want; giving up ownership of all NFTs. However, this also means giving up the community and its benefits.

Moreover, selling is only an option if you think that the NFT you own may be in such demand on the market that it will bring you a significant profit for you in the chosen period. 

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Young Monday: Instagram, JP Morgan and Microsoft

Instagram NFT marketplace, JP Morgan gets involved with DeFi

Instagram and Game Stop’s NFT marketplace, JP Morgan and Microsoft get involved in Web3, the Premier League chooses Sorare

For this first Young Monday of November 2022, our protagonists are ‘traditional’ companies grappling with Web3 adventures. The first of these is Instagram, which plans a ‘leg-up’ entry into the non-fungible token market through the development of its NFT marketplace. Then we move on to JP Morgan, one of the most important banks in the United States. They debuted in the world of decentralised finance (DeFi) with their first transactions on Aave, while Microsoft invests in crypto gaming. Concluding with another news item on mass adoption, Young Monday unveils the plans of the English Premier League. The world’s top football league is in fact negotiating with Sorare for the production of an NFT collection.

Gamestop and Instagram launch their NFT marketplaces

Buying NFTs on Instagram? It’s almost a reality! On Wednesday, the 2nd of November 2022, Meta announced the integration of an NFT marketplace on Instagram. Meta’s plan to bring non-fungible tokens to the social network is proceeding step by step. Already in August 2022, in a test phase, some users started to post and display NFTs on their profiles. But soon, it will be possible to create and sell NFTs directly on the app.

Users who create NFTs on Instagram will do so thanks to Polygon’s blockchain. In Instagram’s NFT marketplace, it will also be possible to link their OpenSea account and transfer their tokens from one platform to another. This option will initially only be available for NFTs built on Polygon and Solana (thanks to the collaboration with Phantom).

Instagram’s marketplace will initially be tested by a few sectioned creators. And, according to the official announcement, the Instagram marketplace will not charge commissions in its initial phase. Following the important announcement, on Thursday 3rd of November 2022, the price of MATIC (the crypto on Polygon’s blockchain), drew a green candle on the chart with a price increase of more than 10%.

GameStop also has some updates on its Web3 adventure. This adventure began a year ago now, in November 2021, with the purchase of an NFT domain (nft.gamestop.com). Subsequently, the video game store started building its NFT marketplace and developed its self-custodial crypto wallet. A few days ago, GameStop’s NFT marketplace finally concluded its beta phase, allowing the final version of the NFT marketplace to be activated on the ImmutableX blockchain. ImmutableX is an Ethereum sidechain dedicated to crypto gaming. The partnership between ImmutableX and the famous video game store started in February 2022. The beta version of Gamestop’s NFT marketplace went live 5 months later. To date, the platform provides access to Web3 games built on the blockchain, such as Gods Unchained, Guild of Guardians and Illuvium.

JP Morgan and Microsoft take their first steps into the Web3

For our “institutions join web3” paragraph, this week, we take a look at JP Morgan. The world’s largest bank is part of the American Big Four in the financial sector, along with Bank of America, Citigroup and Wells Fargo. In finance jargon, these kinds of giants are called institutional investors. By ‘institutional investors’ we mean organisations that are the benchmark for a certain sector and make periodic and systematic investments using large amounts of capital.

Last week, precisely on Wednesday the 2nd of November 2022, JP Morgan carried out its first transaction on a decentralised finance platform (DeFi). The transaction was processed with the help of the Monetary Authority of Singapore (MAS) and is part of a pilot programme called ‘Project Guardian’, which was set up to explore the potential of decentralised finance in financial markets populated by large capital. This is the first case of a traditional bank using a DeFi platform in a public blockchain.

JPMorgan deposited Singapore dollars and Japanese yen tokens on the Aave liquidity protocol. These tokens were used for trading and the transactions were finalised using Polygon’s network (preferred to Ethereum for its low fees). According to Aave’s spokespersons, JP Morgan’s first DeFi transaction is a ‘milestone’ for the industry, as it ‘represents a huge step towards moving traditional financial assets to DeFi’.

Bill Gates‘ company Microsoft has also recently invested in Wemade, a Korean play-to-earn video game company. Wemade, which was founded in the early 2000s, recently received some USD 46 million from Microsoft and other companies to devote to the development of crypto games. This is not Microsoft’s first investment in Web3, in February 2022 the company had invested in the blockchain software company Consensys. In September, it participated in a funding round for the decentralised data platform Space and Time.

Sorare and Premier League: one step closer to collaboration

The English Premier League has decided to enter the NFT market through a partnership with Sorare. The partnership has not yet been made official, but if it goes through, it would be Sorare’s third international partnership in a few months. It would follow those with American sports leagues the National Basketball League (NBA) and Major League Baseball (MLB). According to rumours, the English football league’s collection could be similar to NBA Top Shot, and thus represent iconic moments of the world’s most popular and followed football league. A similar crypto football-themed collection already exists, it is the one between Algorand and FIFA dedicated to the World Cup.The uncertainty about the success of the deals is mainly related to the economic part of the question, will Sorare accept the Premier League’s current $34.7 million offer? The English football league, before knocking on Sorare’s door, sounded out the market through relations with some competitors such as Dapper Labs and Consensys. However, it seems that the proposals made by the Web3 companies did not take root. For Sorare, this could be an opportunity to improve on its already incredible performance in 2023.

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Club benefit: access to the NFT Monuverse whitelist

club benefit monuverse nfts

Find out how to get early access to Monuverse NFTs at an advantageous price, thanks to the Clubs

8/11 update: the price of NFTs minted by those on the whitelist has been lowered to 0.07 ETH.

Monuverse is an ambitious project that seeks to transpose the world’s cultural heritage into the metaverse, with the aim of protecting its preservation and spreading awareness of the great cultural heritage to which we still have access.

We did say the benefits for clubs would continue, didn’t we? Well, as promised, here’s another one! Find out how to access the whitelist for the next Monuverse NFT drop.

What is Monuverse?

The Monuverse project creates NFT collections representing replicas of monuments and cultural sites through 3D modelling, reconstruction, 3D imaging and generative art.

A portion of the proceeds from the sales of these NFTs will go to local institutions responsible for the maintenance and restoration of the monument represented in the NFT.

Besides the interest in terms of collecting, being one of the virtual owners of a real historical monument is also a way to contribute to the preservation of cultural heritage in a unique way. We say ‘one of the owners’ because, at least according to Italian intellectual property law, it is not possible to be the sole owner of an element of cultural heritage. Hence why they are fragmented NFTs in the form of collective ownership of the monument they represent.

Monuverse is starting its collection with an Italian monument, with its first release being NFTs of the Arco della Pace (Arch of Peace) in Milan. The ultimate goal is much broader: to populate a historical metaverse where users can use 3D avatars with epoch-specific clothing and participate in virtual events, art exhibitions, and festivals.

What benefits do you get by purchasing a Monuverse NFT?

By purchasing an NFT from a Monuverse collection, you’re contributing to the protection of cultural heritage. This is the main value of the token.

However, having a Monuverse NFT also means joining a community and participating in a project, which provides a number of benefits.

  1. You get a PFP and a free 3D Avatar.
    A PFP is a profile picture in NFT format: you can use it on social networking sites and in all applications that support NFTs.
    On the other hand, an Avatar is your character in the metaverse: Monuverse has created several designs insipired bu various historical eras and cultures.
  2. You get guaranteed access to the Whitelist for upcoming Episodes.
    I.e. the possibility of minting new NFT collections to be released in the future at the cheapest price.
  3. You have access to Monuverse initiatives and events.
    The first example was the artistic performance in Milan last December at the Arco della Pace.
  4. You have the right to vote on the next monuments that Monuverse will release.

Discover all the 6 ways to use your Monuverse NFT!

How will the NFTs be released?

The release of Monuverse collections is done by Episodes. Episode I will begin on the 11th of November, during which 7,777 unique NFTs classified into 9 rarity levels will be released.

On the 11th of November, Episode I will take place in three consecutive phases starting at 5pm (UTC):

  1. The Chosen Ones: minting for the top whitelist band;
  2. The Believers: minting for the second whitelist band, called ‘Pre Mint’;
  3. The Brave: minting for public sale.

The price of a single NFT varies according to the phase in which you participate. 

  1. The Chosen Ones: 0.09 ETH (approx. €145); lowered to 0.07 ETH (approx. €104)
  2. The Believers: 0.09 ETH (approx. €145);
  3. The Brave: 0.11 ETH (approx. €175).

Initially, each NFT will contain the same generic image. To find out which level of rarity you have purchased, you will have to wait about a week. At the end of the waiting period, the Reveal phase will begin, i.e. the phase in which you will discover the actual image or video of your NFT that will correspond to one of the 9 animations representing the different rarity levels.

Since it is an NFT, it will always be exchangeable, both in its generic version before Reveal and in its final post-Reveal version, in exchange for ETH.

What is the benefit for Club members?

Thanks to the collaboration between Young Platform and Monuverse, there are 1200 reserved places on the first-tier whitelist for club members.

Being on the whitelist allows early minting of up to 3 NFTs at 0.07 ETH (about €104), i.e. buying them, registering them on the blockchain and transferring them to your wallet.

Please note: you have until the 9th of November at 5 p.m. (UTC) to join a Club and sign-up for the whitelist!

As places are limited, priority will be given to members of higher-level clubs.

How to apply for the whitelist

By the 9th of November at 5 p.m. (UTC), Club members who want to attempt to be whitelisted must register with their wallet address on the whitelist page.

Follow these 3 basic steps.

1. Join a Club or increase your level

The very first thing to do if you are not in any Club or in a low-level Club, is definitely to sign up now. That way, you have time to deposit money, buy YNGs and lock them in a Club before the 9th of November.

The higher your Club level, the more likely you are to be whitelisted.

We recommend performing the remaining two steps from the desktop.

2. Create an Ethereum wallet

If you do not have a web wallet for Ethereum, one of the most convenient and compatible applications is Metamask. You can create one like this:

  • Go to Metamask
  • Click on ‘Install MetaMask for (browser)’.
  • Click on ‘Add to (browser)’.
  • After installation, a new tab should open automatically. If it does not, go to the list of extensions and click on MetaMask.
  • Click on ‘Create a Portfolio’.
  • Click on ‘Accept’.
  • Set a password, check the box to accept the Terms of Use and click ‘Create’.
  • Click ‘Next’ and then ‘Click here to reveal the secret words’.
  • Write the secret phrase (seed phrase) on paper now and keep it in a safe place. Click on ‘Next’.
  • Select the words of the secret phrase in the correct order and click ‘Confirm’.

3. Sign-up on the minting page

  • Register at the minting page
    • Click on ‘Login to Sign-up’.
    • Click on ‘Metamask’.
  • Enter the password communicated by Young Platform by email after 48 hours of joining the Club (or November 5th if you are already in a Club).
  • Connect your wallet, enter your name and click on Sign-up.
  • If you see a congratulations pop-up, you are whitelisted.
  • Transfer your ETH from Young Platform to Metamask. If you do not have ETH, buy them on Young Platform and then transfer them to Metamask. 

Please note: When deciding how much ETH to buy and transfer to Metamask, please consider: 1) the number of NFTs you want to buy (maximum 3), 2) ETH transfer fees to Metamask (0.0025 ETH), minting fees (min. 3$) and for any emergency transactions in case of an error.

How do I transfer my ETH to Metamask?

You can send ETH and tokens from another wallet to a new MetaMask account. Simply copy your new public MetaMask address and go to your existing wallet or exchange to send funds to your new wallet address.

You can find your MetaMask address under the account name (in the format 0x12r45…6HJ9).

To transfer ETH from Young Platform follow this guide.

For further questions please consult the MetaMask FAQ by clicking here.

What should I do on the 11th of November?

If you made it onto the whitelist, on the 11th of November, you will be able to participate in the early minting from 17.00 UTC for around 2-3 hours, at 0.07 ETH per mint.

You can still buy NFTs in later stages if you wish, but they will have the costs specified above.

In any case, here is how to mint:

  1. Click on the link we will email you 48 hours after you join the Club (or November 5th if you are already in a Club).
  2. Connect your wallet.
  3. Select the number of NFTs you wish to purchase (maximum 3 whitelisted).
  4. Click on Mint to make payment in ETH.
  5. Wait for a congratulations window to appear.

Congratulations, NFTs are now inside your wallet!

How to view your NFT

Once purchased, you can view and display your NFTs on all major generic marketplaces including OpenSea.

To view your NFTs simply:

  1. Go to OpenSea.
  2. Link your wallet in the top right-hand corner by clicking on the profile or wallet icon
  3. Go back to your profile. Under the ‘Collected’ tab, you can view your NFTs.

Remember that you will only be able to see the real image or video you have purchased after the reveal process is done.

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Lord of the Rings tokens and NFT news for October

NFT: The Lord of the Rings collection and October news

October NFTs news summarised in 5 items: Lord of the Rings, Art Gobblers, Reddit, blue chip collections and the royalties debate!

So, what happened in the NFT market this October? Among the new collections is the eagerly awaited Lord of the Rings collection, as well as Art Gobblers, a sui generis crypto art project. Record NFT sales involve blue chip collections, but all that glitters is not gold… Reddit’s NFTs continue their conquest of the industry, which in the meantime is busy deciding: should NFT royalties be paid to artists?

New: Lord of the Rings NFTs

Among the most interesting collections of the past month is certainly the one involving Lord of the Rings NFTs. On the 21st of October, Warner Bros. released 10,999 NFTs based on the first chapter of the saga inspired by J.R.R. Tolkien’s universe, The Fellowship of the Ring. The NFT collection is part of the broader ‘Warner Bros Movieverse‘ project unveiled by the film studio to create Web3 experiences and digital collectibles for fans (examples include exclusive behind-the-scenes content or augmented reality set exploration). The collection was built on the Eluvio blockchain, which describes itself as a ‘crypto content chain’. The Lord of the Rings NFTs were released in two different purchase options:

  1. “Mystery Edition”: at a cost of $30 (payable in fiat or crypto coins), an NFT representing the landscape of the Shire (common), with Rivendell (uncommon) or the Mines of Moria (rare) is minted and randomly awarded. By purchasing one of these tokens, you receive access to the extended 4K version of the film, eight hours of special content and commentary, images and themed collectibles. These NFTs were minted in 10,000 copies (at the time of writing, 5,230 are still available);
  2. “Epic edition”: at a cost of $100, it was possible to purchase an NFT depicting one of the landscapes from the “Mystery Edition” or to surprise others with additional special content. The 999 Lord of the Rings ‘Epic Edition’ NFTs are sold out.

In addition to the rights to Lord of the Rings, Warner Bros. owns those to the Harry Potter saga, DC heroes, Scooby Doo and the Hanna-Barbera classics. But it would seem that the next literary universe to enter the Warner Bros Movieverse will be that of the Iron Throne, as Game of Thrones NFTs were announced a few hours ago in collaboration with marketplace Nifty’s. The collection dubbed ‘Game of Thrones: Build Your Kingdom’ will be released in December 2022.

The top collection of the month is from the creator of Rick and Morty

Although Lord of the Rings NFTs were a real hit with fans, the token collection that really exploded in October was Art Gobblers. It was imagined by Rick and Morty creator Justin Roiland, in partnership with Paradigm, a well-known crypto-themed venture capital fund. Art Gobblers NFT was launched on the 31st of October on Ethereum. In just four days, it raised over $45 million ($13 million in the first two hours after launch alone). What is the special feature of this collection?

The Art Gobblers project is a ‘decentralised art factory’ owned by aliens, but that is another story. Using a drawing tool available directly on the site, anyone can create illustrations or patterns that are then randomly combined to generate unique NFTs. The Art Gobblers are called this way because they incorporate and display artists’ works directly in their stomachs. The NFTs are created without human intervention, meaning that Art Gobblers is a generative art project. The collection will consist of 10,000 pieces, and the first 2,000 non-fungible tokens were minted on the 31st of October. The remaining 8,000 can be created directly by the artists by paying a commission in the GOO token, owner of the project. One of the rarest Art Gobblers, number #9949 was purchased for 21.5 ETH (about 33,000 USD).

Reddit’s NFTs bring 3 million people into the crypto world

Reddit’s first NFTs were launched in July as avatars for use on the platform. On the 21st of October, the ‘second generation’ of avatars came out. Around 40,000 copies all sold in a single day for between $10 and $100 (although the most expensive was bought for $40,000). The tweet by Mihailo Bjelic, co-founder of Polygon, the blockchain on which Reddit’s NFTs were developed, shows the economic impact of the collection. But it’s not just for the sales figures that these tokens have attracted attention. Apparently, Reddit’s NFTs have brought 3 million users into the crypto world without ever having used the words ‘NFT’ or ‘cryptocurrency’ (and ‘blockchain’ only once). Millions of users were unfamiliar with cryptocurrencies but intrigued by a useful and curious initiative for Reddit users. The campaign to communicate and promote these NFTs took place under the terms ‘digital collectibles’. In fact, according to Reddit CEO Steve Huffman, the term “crypto” would have confused people.

Blue chip collections still in the rankings but their value is no longer the same

The collections with the highest sales in October are obviously the blue chips we know very well, such as CryptoPunks and the Bored Ape Yacht Club. The most substantial sales were:

  • CryptoPunks #924 for $737,160;
  • CryptoPunks #9476 for $487,830;
  • Fidenza #783 for $471,150.

However, the biggest winners in the NFT space are also the biggest ‘losers’. On DappRadar you can see that although these collections are the most valuable, their value has dropped dramatically within a year. For example, the CryptoPunks #5822 previously bought for $23.58 million is now worth ‘only’ $2.64 million. Or the Bored Ape #8817 sold for $3.4 million by Sotheby’s auction house and now has a market value of $805,043.

Marketplaces and NFT artists fight over royalties

The NFT world in October was also marked by the debate on royalties for non-fungible tokens. A ‘royalty’ means the percentage of a sale that goes to the artist or author of a work. Earlier this month, Magic Eden, the NFT marketplace on Solana decided not to make it compulsory for buyers to pay royalties, with the aim of attracting more collectors. Recently, this strategy was also adopted by the LooksRare marketplace. For some, royalties are indispensable to support artists’ work and are the basis of the creator economy. For others, royalties have become just a way to enrich the owners of large collections.

Confirming the latter thesis is Galaxi Digital’s report showing that the creators of collections on Ethereum have so far earned $1.8 billion from royalties from secondary sales on marketplaces such as Opensea. Of this figure, 20 percent is in the hands of only ten collections, the remaining 80 per cent is split between 482 projects. Topping the list in terms of royalty earnings is Yuga Labs with a take of $147 million, keep in mind that only royalties are being considered, this therefore excludes the cost of the NFTs themselves.

Magic Eden, despite the controversy over its decision and the dissatisfaction of crypto artists, registered 300,000 trader sign-ups in October.

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Tourism in the Metaverse: stop in Italy with Monuverse

The Monuverse metaverse: tourism and heritage with NFTs

The Monuverse metaverse promises to enhance cultural heritage through NFTs. How can the blockchain benefit tourism?

It has been a year since Facebook turned into Meta and brought the word ‘metaverse’ into the limelight. Since then, all centralised projects, such as Roblox, or decentralised projects (the most popular being Decentraland and The Sandbox) that virtually connect people from all parts of the world have gained popularity. This is particularly welcome in light of what was experienced during the COVID-19 pandemic. But what can be done in the metaverse today? The different platforms offer services and experiences of all kinds, from play-to-earn video games to concerts, fashion shows and art exhibitions. Many projects, such as the Italian Monuverse initiative, have shown that the metaverse lends itself to enhancing the arts and tourism sector.

Blockchain for tourism and cultural heritage: use cases

The crypto metaverse, with its blockchain-based technology, promises to improve many aspects of our daily lives. If we consider tourism and the art world, NFTs and the metaverse are already being used on various levels. Non-fungible tokens, for instance, are being used as a format to sell tickets for events and exhibitions. The metaverse also allows people to visit museums and archaeological sites directly from their homes. Crypto metaverses in the style of Decentraland host reconstructions of monuments and digital art exhibitions as in the case of Decentraland Art Week. In general, the blockchain is used by tourism operators to build platforms for booking crypto holidays, tracking data and organising loyalty programmes. NFT artwork is also used as a tool to finance the reconstruction or preservation of historical monuments, as in the case of the Ukrainian Meta History Museum of War or the Monuverse metaverse,

In the Metaverse, art and monuments are boundless

From the point of view of the public, tourists, art lovers and collectors, the metaverse has arrived to enhance their experience by making it borderless. Digital museums are truly for everyone. Reconstructing a monument in the metaverse means making works of art more accessible both economically and geographically, as it should always be according to the concept of public goods. The experience in the metaverse, without replacing a trip to the real world, can be an opportunity to experience a work of art from an unusual point of view. As well as being free, accessible from home and environmentally sustainable. With the blockchain, tourism becomes unconditional and limitless because sites of interest are always available at any time. Digital tourists can discover the world with their own eyes, from wherever they are. The digital experience can only complement that of offline tourism.

The Monuverse metaverse: close to culture with NFTs

Monuverse, the crypto art project supported by Reasoned Art, fits into this landscape. Monuverse is building a virtual reality (accessible with Oculus) to host all the world’s most important monuments in NFT format, thus making them visitable by anyone. The Monuverse metaverse will become a central environment for digital tourists, artists, creators and brands by hosting cultural promotion events. The monuments in this metaverse will then be transformed into collectable NFTs. Regarding Italian monuments, Monuverse has an agreement with the Italian Ministry of Cultural Heritage to donate a percentage of royalties on NFT sales to institutions that restore works. The first monument chosen by Monuverse is the Arch of Peace in Milan, built in 1807 under Napoleon’s rule as an entrance to the main road that connected the Lombard capital with Paris.  In this case, Monuverse entered into an agreement to donate a percentage of NFT sales to the Milan Superintendence of Cultural Heritage for the conservation and restoration of the monument itself. 

The Peace Arch NFTs are examples of the generative art style and will be minted (in crypto jargon, created and registered on blockchain) on the 11th of November in 7,777 copies with different rarities.The owners of these NFTs, with their purchase, will directly contribute to the preservation of the Peace Arch and will be able to decide what the next work in the metaverse will be.

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Young Platform signs a partnership with the world’s leading Web3 domain provider

Young Platform signs a partnership with Unstoppable Domains

A partnership has been secured between the world’s leading provider of Web3 domains, Unstoppable Domains, and Italy’s leading cryptocurrency exchange, Young Platform.

Turin, the 2nd of November 2022 – Young Platform, Italy’s leading cryptocurrency exchange, has signed a partnership with Unstoppable Domains, the world’s leading provider of Web3 domains. The partnership will allow more than 1.5 million people in Italy, present within the Young Platform ecosystem, to educate themselves on the Web3 world and to receive a free credit to purchase a Web3 domain.

The partnership was signed by Andrea Ferrero, Co-Founder and CEO of Young Platform and Sandy Carter, SVP and Channel Chief of Unstoppable Domains. Young Platform is a scale-up founded in Turin in 2018, which today has names such as Azimut, United Ventures and Banca Sella among its investors. 

This is a blockchain-based collaboration, bringing NFTs and cryptocurrencies together. Founded in San Francisco, California, Unstoppable Domains allows people to create Web3 domains that can become a fundamental part of their digital identity. A Web3 domain, in its simplest form, is a name (example: alicesmith.nft) that exists as an NFT on the blockchain. This allows the owner of the domain to have all associated data under their direct control. They are also able to use it as a digital identity across hundreds of web3 Dapps, wallets and exchanges. These use cases can be summarised in one fundamental concept: data sovereignty. Data sovereignty means that only the owner has the right to decide who or what can access their data, what data they want to share with which apps as well as how it is used.

In Web2, it is difficult, if not impossible, to move data from one app to another because big technology companies create closed ecosystems. For example, we can publish the same content on all Meta services or use the same account for all Amazon services, but using the same content or credentials on both is impossible.

By contrast, the definition of Web3 is based on content sovereignty: there are no companies asking for data in exchange for services. Instead, developers create services, and users use and pay for them without relinquishing control of their data. All this is possible thanks to blockchain technology, which makes the ownership of all kinds of tokens immutable and secure with cryptography. Smart contracts are crucial for this too, as they make it possible to build decentralised applications (DApps).

Young Platform is positioned as the Italian entry point for the cryptocurrency market, and it now has over 1.5 million registered users. Young’s proprietary token (YNG), based on Ethereum, was first distributed free of charge only through educational features (such as the Step app), and then introduced to the market in June 2022. In the same month, Young Platform closed a EUR 16 million investment round led by Azimut. The ‘cryptocompany’ aims to create a team of 110 employees by the end of the year.  Having taken its first steps in the i3P incubator of the Politecnico di Torino, today, Young Platform aims to become a smart digital bank, natively focused on digital services with solid foundations based on regulatory compliance and dialogue with regulators. The company retains a mix of talent and experience, thanks to an advisory board of professionals from high finance and the tech world, as well as the ability to aggregate an aware and resilient community.

“Unstoppable is giving the power of the Internet back to the people. We’re excited to partner with Young Platform to expand access to Web3 through strong crypto education and access to Web3 domains,” says Sandy Carter, SVP and Channel Chief of Unstoppable Domains.

“This powerful integration is just one step in an exciting journey to facilitate Web3 adoption. We are excited to partner with Unstoppable Domains, and are confident that this implementation is just one of many more exciting collaborations to come,” says Andrea Ferrero. “Unstoppable Domains is doing an amazing job of paving the way for a decentralised identity. Suffice it to say that your Unstoppable Web3 domain is your wallet address, your decentralised web access and your universal username, all at the same time. Web3 was introduced in our educational paths and integrated in our products. Thanks to this effort, it’s now accessible to everyone, also in Italy.” 

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Get an Unstoppable Domains voucher with the Clubs

Get an Unstoppable Domains voucher with the Clubs

Today, if you are signed up to a Club, you will receive a voucher to redeem a credit on Unstoppable Domains. Go Web3!

Today, the 31st of October, starting at 17:30 (UTC), the distribution of Unstoppable Domains vouchers via email will begin to those who are already signed up to the Clubs.

Please note: vouchers will take between 48 and 72 hours to be sent to both subscribed and new subscribers.

If you are not yet in any Clubs, you have until 11.30 a.m. (UTC) on 28th of November to sign up and automatically receive your voucher within 48 hours. Find out more about the Clubs.

Below are the voucher amounts according to your Club level:

  • Bronze: $60
  • Silver: $70
  • Gold: $90
  • Platinum: $110

If you’re in a Club but can’t find the voucher email, check your spam folders and see if Young Platform addresses are blocked from your inbox: [email protected] and [email protected]

Don’t know what we are talking about? We announced this new advantage for clubs in this article.

What should I do now that I have a voucher?

The first thing to do is to create an Unstoppable account and redeem the voucher for credit.

It is important to do this now because all vouchers expire on the 29th of November.

After redeeming the voucher, the credit must also be used as soon as possible.

The credit will expire 90 days after you redeem it.

To purchase a Web3 Domain using the credit applied to the account, follow this guide.

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How to use a voucher on Unstoppable Domains

How to use a voucher on Unstoppable Domains

If you have obtained an Unstoppable Domains voucher, this is the guide for you. Here is the step-by-step explanation on how to buy a Web3 Domain and make it yours.

1. Create an account on Unstoppable Domains

We recommend operating from a desktop throughout the procedure for the best experience.

Creating an Unstoppable account is really simple. From the homepage, click at the top right on Sign up/Log in.

As you see, you have several options: use your Google profile, Twitter, connect a wallet or create new credentials.

Once you have chosen your credentials, you will receive an email to confirm your sign up. Click on the link in the email to verify your account.

2. Redeem the voucher

Your account is now ready. From the menu at the top of the page, click on the ‘Account’ button and then on ‘Redeem a Gift Code’.

Paste your voucher received by email from Young Platform into this section and redeem it by clicking on ‘Apply’.

Your account is now associated with credit to be used for any purchase.

NB: You have until the 29th of November to redeem the voucher.

3. Buy a Domain

You can purchase an Unstoppable Domain either from Young Platform Web or directly from the Unstoppable Domains site.

Once you have applied credit to your Unstoppable account, use the search bar to find the domain you want to purchase.

Remember that all prices are in US dollars, as is the value of your voucher.

In this paragraph you will find the aspects to be evaluated when choosing a Web3 domain name.

Once you have chosen the domain, add it to the basket and select a method of payment.

We recommend following the official guide especially if you want to pay in cryptocurrencies.

When you have made your purchase, you will find your new domain under ‘Account’, in ‘My Domains’.

NB: you only have 90 days from the time of redemption to use the credit.

4. Mint your Domain

The domain is now yours, but it is not yet registered on the blockchain.

For this step, you must have a compatible wallet with which to associate your new Domain.

You can do it whenever you want, so take your time. Just know that until it is registered on blockchain, it is not universally verifiable that it is yours.

4a. Prepare your Wallet (for example: MetaMask)

If you do not yet have a Wallet Metamask or equivalent, here is how to create one:

  1. Go to https://metamask.io/download/
  2. Click on ‘Install MetaMask for (browser)’.
  3. Click on ‘Add to (browser)’.
  4. After installation, a new tab should open automatically. If it does not, go to the list of extensions and click on MetaMask.
  5. Click on ‘Create a Portfolio’.
  6. Click on ‘I accept’.
  7. Set a password, check the box to accept the Terms of Use and click ‘Create’.
  8. Click ‘Next’ and then ‘Click here to reveal the secret words’.
  9. Write the secret phrase (seed phrase) on paper now and keep it in a safe place. Click on ‘Next’.
  10. Select the words of the secret phrase in the correct order and click ‘Confirm’.

4b. Connect the wallet to Polygon 

Still following the desktop procedure, connect your web wallet to the Polygon network, where your Unstoppable domain will be registered.

These are the steps for Metamask:

  • Go to PolygonScan.com
  • Scroll down to the site footer and click on Add Polygon Network
  • MetaMask will ask you to approve the changes. After doing so, click on Switch Network

4c. Mint your Unstoppable Domain

Now everything is ready for minting, i.e. to register the domain on blockchain:

  1. Go back to your Unstoppable Domains account
  2. Go to ‘My Domains’:
  3. Select ‘Free Mint’ next to your domain and click on continue.
  4. Select the wallet in which you want to mint your domain.
  5. Tick the  “I understand” box and confirm.
  6. Confirm your e-mail, enter the verification code and confirm.
  7. Your domain will be minted on Polygon. The operation may take several minutes depending on the traffic on the network. Click on Track Progress for more details on the status of the operation.

It’s done! The Web3 domain is yours, and it is verifiable on the blockchain.

It’s time to discover 10 ways to use your Web3 Unstoppable domain!