Project to Build a Content Creator-focused Economy through Blockchain Technology

Audy Castañeda
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Project to Build a Content Creator-focused Economy through Blockchain Technology

Cointelegraph explored the metaverse of the creator economy Web 3.0 protocol at an online event last week.

A metaverse project that would provide a digital hub for creators gave the community the opportunity to walk the streets of their digital city and explore an early version of the vision it aims to achieve.

Last week, the content creator economy protocol Web3, DEIP, launched an event within its metaverse. With DEIP CEO and co-founder Alex Shkor acting as a virtual tour guide welcoming participants with a speech, Cointelegraph explored the city while listening to the guide.

Alex Shkor Explains

In an interview with Cointelegraph, Shkor explained that the space was created with the goal of empowering creators and connecting them with each other. Shkor said that they wanted, “to create the space where creators could meet, collaborate, and learn more about the latest technological advancements that enable the transition to the decentralized creator economy.”

The platform hopes to offer creators a platform to discover, evaluate, license, and exchange “intangible assets” such as works of art. It also aims to transfer data storage from centralized publishers to a decentralized platform, giving creators more control over their works. Aside from this, DEIP also aims to give creators better monetization opportunities.

According to Shkor, the space was created by the Arhead Metaverse ecosystem, the Balagan creative agency, and the Atrium architecture studio. The team has also partnered with Near Protocol and the Octopus network to help drive their ecosystem.

During the event, one of the most notable attractions was a blue balloon dog. Shkor mentioned that it is Jeff Koons’ Balloon Dog (Blue), which is a physical sculpture that was turned into digital art to be exhibited at the event.

Event Preliminary Assessment

While holding an event within a metaverse is an interesting step forward, the event also showed signs that metaverses are still in their early stages. Wandering around the digital venue, Cointelegraph ran into some minor hiccups like disconnections and audio outages.

Meanwhile, metaverse tokens are doing well despite the current bear market. According to a report by Kraken Intelligence, digital assets related to metaverses/digital worlds have outperformed other token categories by 400% year-on-year.

Kraken Exchange posted on Twitter that, “The #NFT boom of 2021 has not only drawn mainstream attention to digital art investments, it has also popularized the crypto metaverse. Kraken Intelligence’s report takes a closer look at how the crypto metaverse will change the way we communicate.”

Blockchain-based games using non-fungible tokens (NFTs) and metaverse platforms remain wildly popular throughout 2022 so far. Despite falling prices across the market, the number of users among those games has remained constant at around 1 million users per day, according to data from decentralized application (Dapp) tracker DappRadar.

Kraken’s report noted that while the number of daily users was flat in May, “NFT volume saw a big decline, with a daily drop of 87.1%.”

By Audy Castaneda

Delphia Raises $60 Million in Funding Round Led by Multicoin Capital

Audy Castañeda
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Delphia Raises $60 Million in Funding Round Led by Multicoin Capital

Decentralized autonomous organizations continue to gain adherents. In the case of Delphia, retail traders will be rewarded for providing their personal data.

Algo advisory startup Delphia has closed a $60 million investment round backed by some of the largest venture capital funds within the crypto industry, as it embarks on the creation of a new decentralized autonomous organization (DAO) data-centric.

Series A was led by crypto-focused venture capital firm Multicoin Capital, with additional participation from Ribbit Capital, FTX Ventures, Valor Equity Partners, FJ Labs, Lattice Ventures, and Cumberland. Delphia will use the funds to launch a new rewards token, as well as expand the ways users can contribute data to algorithmic models, which will be used to improve returns for investors.

Multicoin Capital Co-Founder Tushar Jain Speaks

According to Multicoin Capital co-founder Tushar Jain, data DAOs use user-provided data to benefit all contributors to the organization. As an advisory entity to Algo, Delphia will use user data to further improve the trading algorithms that directly manage your money.

On Twitter, Jain posted that, “I’m excited to announce that Multicoin has led a $60M round in @delphia with participation from FTX Ventures, Ribbit Capital, Cumberland, Road Capital, and others. Delphia is the first instantiation of a new type of organization uniquely enabled by Web3: a DataDAO.”

“Data contributors are rarely rewarded for their contributions […] Because they have no right to the value created by aggregated data, nor do they have a right to decide how their data is used, leading to a huge leap of faith in the aggregator – which, unfortunately, has been violated many times,” Jain explained. Data DAOs “solve this inequity by giving data contributors a direct economic advantage in aggregated data and the ability to dispose of it.”

Delphia’s investment platform offers long-term active management strategies. Users can invest a minimum of $10 to gain exposure to a diverse portfolio of individual securities.

About DAOs: Some Reminders

DAOs have emerged in various ways to give users access to communities free of hierarchical management. DAO structures have even received attention from national governments seeking to encourage the formation and development of projects within their own borders. Its proponents believe that DAOs incentivize the long-term sustainability of cryptocurrency projects by giving users a direct stake in their growth.

It is worth remembering that last June 6, MBS co-founder and CEO Holger Mannweiler noted that the DAO will play an important role in the governance of the business going forward, while also playing a key role in consumer research. He explained that, “The DAO will make all the important business decisions, from which beers we’re going to brew, how we’re going to price those without an NFT, where we’re going to sell the beer, etc.”

“What’s nice about this DAO is that it also represents a huge permanent target group, something other consumer brands have to spend a lot of time and money on,” he added.

DAOs offer a number of advantages to investors, such as retail cryptocurrency traders having an inherent incompatibility with traditional centralized financial systems. This distrust is only amplified when it comes to large institutions. DAOs level the playing field by bringing together the great institutional benefits without the centralized aspect of pooling member resources and coming together as a community.

The biggest challenge facing DAOs right now is the lack of infrastructure to support their growth. In this sense, observing DAOs evolution seems to be a sensible step to follow.

By Audy Castaneda

Leopoldo López and other Activists Sent a Letter Regarding Bitcoin to the US Congress

Jenson Nunez
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Leopoldo López and other Activists Sent a Letter Regarding Bitcoin to the US Congress

Leopoldo López is a Venezuelan politician that opposed the administration of Nicolás Maduro. The letter got signed by Alex Gladstein of the Human Rights Foundation.

A group of 21 human rights (DD. HH.) activists and defenders, among which the Venezuelan Leopoldo López and the bitcoin enthusiast Alex Gladstein stand out, sent a letter to the Congress of the United States (USA) to set a position in favor of bitcoin (BTC). They argue that Bitcoin is a digital asset that has allowed it to grant economic safety to regions with damaged economic systems.

The activists highlight in the letter available on the Financial Inclusion page that a currency like bitcoin provides safety and economic empowerment because it is open source and doesn’t count on barriers regarding permissions.

In addition, it offers unprecedented access to the world economy for users in nations like Nigeria, Turkey, and Argentina, where local assets are crashing down, breaking up, or getting cut off from any link to the outside world.

Leopoldo López appearing among the signatories of the letter to the US Congress is a worrying event, as he is a Venezuelan politician captured and held in jail from 2014 until his release in 2019.

López has been a harsh critic of the current administration and political movement in Venezuela, encouraging protest actions against the socialist rulers in the country. In 2014, he boosted a series of demonstrations that ended up with the death of many Venezuelan protesters.

After fleeing in April 2019, López moved to Spain, where he now lives with his wife, another human rights activist named Lilian Tintori, and their children.

From that country, he orchestrated an entire campaign against the Maduro administration, which he labeled a socialist dictatorship since he got jailed in a military body in Venezuela for more than three years.

His current stance on bitcoin runs in parallel with his close connections to the human rights defender, Thor Halvorssen Mendoza, who currently leads the Human Rights Foundation (HRF), where the bitcoin user Alex Gladstein works as CEO. This organization has close ties to the Bitcoin space.

Response to the Anti-bitcoin Letter

The 21 activists sent the letter to the United States of America Congress in response to the letter that a group of critics also sent to the US law-making body. They explained why digital assets are not a solution to the current economic problems.

According to the human rights defenders, almost all the authors of the anti-cryptocurrency letter come from nations with balanced assets, freedom of speech, and solid rights over property.

While not saying that BTC and other digital assets can solve the whole economic problem, evidence suggests that bitcoin would encourage Americans and citizens of the world and strengthen their economy for the years to come.

By: Jenson Nuñez

PwC: Despite Downtrend, Hedge Funds Are Getting Involved In Crypto

Audy Castañeda
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PwC: Despite Downtrend, Hedge Funds Are Getting Involved In Crypto

Although traditional fund managers are hesitant to invest in Bitcoin and Ether, their exposure to digital assets appears to be growing.

Traditional hedge funds are slowly embracing cryptocurrency investments but keeping their exposure limited as the market continues to mature, according to a new study from PricewaterhouseCoopers, or PwC.

In its 4th Annual Cryptocurrency Hedge Fund Report 2022, PwC said that roughly a third of surveyed traditional hedge funds are already investing in digital assets such as Bitcoin (BTC). So-called “multi-strategy” hedge funds were the most likely to invest, followed by macro and equity strategies, respectively.

Cryptocurrency Hedge Fund Report in More Detail

Regarding all the hedge funds currently investing in the crypto space, 57% have allocated less than 1% of their total assets under management. Two-thirds of currently invested companies plan to increase their exposure by the end of 2022.

Respondents cited “regulatory and fiscal uncertainty” as the biggest obstacle to investing. In particular, hedge funds are concerned about a fragmented regulatory environment globally, as well as a lack of clear guidance on how the asset class will be governed.

The Report asserts that in 2021 crypto hedge funds have invested in a wider variety of sectors, which indicates a diversification not evident in the past years. The reason for this, according to their analysts, is the continuing maturation of the industry as a whole.

The Report adds that, “Going forward, as the crypto hedge fund universe expands through new entrants and the continuing mass adoption of Blockchain and cryptocurrencies, we expect the distribution of sectors to increase and for more crypto hedge funds to diversify the sectors they invest in.”

Hedge Funds Watch Crypto Evolution

Large British hedge fund Brevan Howard plans to “significantly scale up” its cryptocurrencies and digital assets

A total of 89 hedge funds were included in the survey, which was conducted during the first quarter of 2022.

Hedge funds and other traditional asset managers have been watching the evolution of the cryptocurrency sector to determine if they should start investing in this space. Although several hedge funds have launched crypto divisions and started investing in the space, most companies remain on the sidelines. Interestingly, a 2021 survey of 100 hedge funds around the world revealed that managers expect to allocate an average of 10.6% to crypto within five years.

Although crypto assets have been in a protracted bear market for much of 2022, institutional investors seem to be buying the most recent price drop. Inflows into Bitcoin investment products such as ETFs and Grayscale’s GBTC product increased by $126 million last week, according to CoinShares. Bitcoin investment funds have quietly added more than $500 million in net inflows this year.

By Audy Castaneda

According to Michael Saylor, Bitcoin Price Is Not Going to Zero but $1 Million

Jenson Nunez
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According to Michael Saylor, Bitcoin Price Is Not Going to Zero but $1 Million

MicroStrategy CEO Michael Saylor stated that Bitcoin is not going to zero, so it is going to $1 million, and he explained to CNBC why this event would take effect.

MicroStrategy CEO Michael Saylor has never flickered in his positive perception about the price of Bitcoin as he repeated that he would never get rid of his holding of crypto assets. His entity is not only the institution with the most investment in BTC, but he has become an enthusiast and even promoter of the benefits of the first digital asset, which he firmly believes in despite its decay.

Saylor tweeted an interview led by CNBC’s Squawk Box in which he expressed that he is still optimistic about Bitcoin. He explained that Bitcoin would not reach zero, so it would reach USD 1 million, and explained the reasons behind this statement.

Bitcoin is an Asset that cannot get Replicated

Saylor explained in detail why he thinks Bitcoin would not crumble down. He added that Bitcoin was a unique blockchain without any replication, even if it brought an instant $5 billion to boost the foundation of a similar platform that would count on the same level of security.

During the interview, Saylor got asked if he waited for Bitcoin to fall and suffer significant losses after its massive investment in BTC: Michael Saylor said that the digital asset would never reach zero.

Saylor explained that skeptics and Bitcoin deniers have been swimming in the wrongful pool for a long time, as governments have not prohibited Bitcoin and are looking for alternative options to accept and set a regulation over it. Therefore, it ensures that the digital asset would not reach zero. And if it would not go to zero, then it goes to the million-dollar price mark.

He further expressed that Bitcoin was by far better than gold and everything gold wants to be. For that reason, he explained that if BTC were worth only what gold is worth, Bitcoin would be worth five hundred thousand dollars per coin.

Also, in another tweet, he presented a graph highlighting the principal reasons for his enthusiasm and optimism about the price in the future because of the way bitcoin’s price has reached high peaks for so many years. The most optimal bitcoin price signal for technocrats or maximalists is the 4-year simple moving standard.

About the Crypto Law

Saylor named two recent elements that, according to him, grant him more significant support for Bitcoin. One is Treasury Secretary Janet Yellen’s speech at American University on April 7. Yellen explained during that speech that cryptocurrencies are still relevant for America’s future.

The other reason is the cryptocurrency bill presented to the United States Congress by Senators Kirsten Gillibrand and Cynthia Lummis, considering it a law that counts on more legitimacy and solidity.

By: Jenson Nuñez

Bitcoin Seems to Be Ending the Longest Bearish Streak in Its History

Alexander Salazar
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Bitcoin Seems to Be Ending the Longest Bearish Streak in Its History

The green weekly candlestick does not cause sentiment to change immediately, as there is still extreme anxiety. Saylor considers that the crypto market turmoil will accelerate a long-awaited regulation on crypto assets.

Bitcoin (BTC) and Ether (ETH) experienced a 5% jump in their prices compared to June 6th. In that way, they entered an upside correction that took the value of BTC from below USD 30,000 to above USD 31,500. That gave investors hope of a long-awaited market recovery following a brutal sell-off in May.

Although the rallies were so weak that the price dropped again, it was the first weekly green candlestick in ten weeks.

The Worst Seems to Be over for Bitcoin

Bitcoin finally broke that negative trend after nine consecutive weeks of closing to the downside. In that way, it marked its first weekly green candlestick since the end of March.

After ten weeks, the first green weekly candlestick does not cause sentiment to change immediately. Emotions still score 15/100 on the fear and greed index, indicating extreme anxiety territory.

However, that extreme fear may reflect the general sentiment in financial markets worldwide. No one knows how far central banks want to go to control inflation.

The Optimistic Outlook of the CEO of MicroStrategy

Since the all-time high in November 2021, the overall crypto market has continuously experienced turmoil. Even altcoins like Terra (LUNA) collapsed by more than 1000% within 24 hours.

However, Michael Saylor, the CEO of MicroStrategy, considers that the crypto market turmoil is excellent for Bitcoin.

The billionaire businessman thinks that this crypto crisis will be great for Bitcoin. He said it would accelerate a long-awaited regulation on stablecoins, altcoins, and exchanges.

In addition, he said it was necessary to break the political stalemate. He explained the world had become more aware of the differences between Bitcoin and security tokens. He said this would make it easier for leading institutions to enter the space.

JPMorgan Considers There Is Long-Term Optimism about Bitcoin

Despite the drop of cryptocurrencies and extremely weak rallies, investment bank JPMorgan says that Bitcoin is a significantly undervalued asset.

Keeping its estimate of the fair value of Bitcoin at USD 38,000, the bank reiterated its assessment of the asset in February. The cryptocurrency was trading at around USD 43,400, about 28% higher than its current level.

The Best Time to Take Profits, Thanks to the Volatility of BTC

The Bitcoin market will remain volatile for some time, but the best investment method can turn that disadvantage into a tool for profit.

For example, BTC futures trading allows traders to go long or short on the price of the pioneering cryptocurrency. In that way, they can earn money as long as their predictions are correct.

On their part, spot traders only receive a profit when the value of Bitcoin rises. Traders can borrow leverage from exchanges to increase their purchasing power, thus multiplying their earnings.

A trader opens a short position of 100 BTC at USD 32,000 with a 100x leverage. If the price drops to USD 29,000, he will make a profit of USD 3,000. That means that 100 BTC/USD 29,000 is equivalent to 10.3 BTC, while the margin needed is only 1 BTC.

By Alexander Salazar

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