The much talked about Polygon MATIC cryptocurrency platform is directed and discussed to provide a thorough guide to this relatively new kid on the block
Warner Bros. Discovery became the first major film studio to offer for sale a nonfungible token bundle. Their NFT is The Lord of the Rings: The Fellowship of the Ring. It dropped last night, October 21st.
Warner Bros. Discovery has teamed up with Web3 company Eluvio to develop the NFTs. This is a world first and one that is likely to set a trend. Each NFT features a 4K copy of Peter Jackson's Lord of the Rings film, including behind-the-scenes footage, exciting stills, plus exclusive film-inspired assets.
Eluvio hosts the NFTs on its blockchain. The blockchain is Ethereum-compatible, and the tokens went live yesterday evening. Michelle Munson, CEO at Eluvio, said, "The core digital assets themselves, not just the token, are on the blockchain." They're both owned and attested to, and all of the streaming that you'll see with the film is authorized and distributed from blockchain."
[Learn about blockchain technology in our beginner’s guide]
The Eluvio blockchain is a new decentralized platform for internet content. This advanced technology allows users to own their content and data. It is simple to use, extraordinarily high-performance, and efficient. It consumes less than ten times the resources of traditional content networks. The owners built Eluvio for the creator's economy.
In many ways, this link-up between Warner Brothers and Eluvio points to the future of digital ownership. NFTs have surged into the public conscience recently.
Rapidly growing sales, eye-watering prices, and celebrity endorsements fuelled their popularity. In the USA, everyone, from Snoop Dogg to Melania Trump, has been releasing their own NFT collections. As soon as NFTs became utilized, it was evident that this is a technology with an enormous future.
The monetary value of all art forms hangs on their desirability. So the future value of NFTs is an unknown quantity. However, as more artwork in the form of paintings, music, or in this case, a movie becomes available, some of them will become collector items. This is where their future value lies.
Fidelity announces that they will begin trading Ethereum from October 28th. This is the latest step in making crypto available to Fidelity's institutional clients. After this date, Fidelity's clients can buy, sell, and transfer Ether. (CoinDesk)
The decentralized crypto exchange (DEX) Mango Markets, which recently suffered an exploit earlier, is to start refunding users for their $114 million losses. Earlier FBI Special Agent Chris Tarbell, who previously worked at the FBI's cybercrime squad in New York, said, "the exploit of Mango Market was "more of a market manipulation." (CoinDesk)
The hunt for Do Kwon intensifies as Terra investors vow to track him down. Members of the UST Restitution Group say that they think the Terraform Labs co-founder is in Dubai. Do Kwon is the subject of an Interpol Red Notice, severely restricting his ability to cross borders. (CoinMarketCap)
Kyle Roche, a co-founder of Roche Freedman, has left the crypto law firm. The move comes months after video recordings in which he appeared showed him bragging that he "sues half the companies in the industry" and described juries as "10 idiots." (CoinMarketCap)
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The much talked about Polygon MATIC cryptocurrency platform is directed and discussed to provide a thorough guide to this relatively new kid on the block
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