ICYMI: Last Week In Crypto - CMC launch 'Killer Whales', AliBaba builds Cloudverse, Nigeria go for Blockchain-Powered Economy
🐸PEPE hit $1Bn, Meme Szn yet?
This week on ICYMI, innovations in Web3 continue to reign supreme as Coinmarketcap introduces a new Web3-themed reality TV show called Killer Whales. Chinese IT giants Alibaba launched 'Cloudverse' on Avalanche, Sports Illustrated rolled-out NFT tickets and Nigeria approves bill for blockchain powered economy.
📺'Shark Tank' but Make It Crypto: CoinMarketCap to launch Competition TV Show
CoinMarketCap, the popular website that tracks cryptocurrency prices, has launched a reality competition show called "Killer Whales" that takes its cues from the well-liked TV program "Shark Tank."
The new initiative will let entrepreneurs pitch their projects to the "Killer Whale" judges, businesspeople, influencers, and Web3 company founders, in collaboration with the Web3 entertainment company Hello Labs. Paul Caslin, who oversees the production of the MTV VMAs, founded Hello Labs.
“Killer Whales is a fun and exciting opportunity to bring the entrepreneurial energy of the Web3 space to homes all over the world," said Jonathan Isaac, chief marketing officer at CoinMarketCap, in a press release.
Interested parties can start submitting their applications to Hello.one and CoinMarketCap from May 2. Those who are selected will then go through a series of interviews in Hollywood. The show will start filming in June and will be available on major streaming services as well as Hello Labs' on-demand Hello TV service.
"Our aim is to open the door to the next billion users into Web3 by entertaining and educating them on all things crypto," said Hello Labs’ CEO Sander Gortjes in a statement.
Recently, a number of Web3-related television programs have appeared, showcasing the variety of applications for blockchain technology and the rising interest in cryptocurrencies among mass media consumers. Fox will premiere "Krapopolis," a program from "Rick and Morty" co-creator Dan Harmon, sometime in 2023. In August, the program introduced its first 10,420 Krap Chicken non-fungible token (NFT) collection, allowing owners to choose show components and access exclusive content and earn rewards.
Other NFT collections that are already in existence are looking into using their intellectual property (IP) across different media. While the vibrant NFT collection Doodles recently acquired the Emmy-nominated animation studio Golden Wolf and announced plans to expand the Doodles franchise through narrative storytelling, the Web3 community NounsDAO has approved proposals for a feature-length film and TV show.
🎫Sports Illustrated Launches NFT Ticketing Platform on Polygon
Sports Illustrated, a U.S. sports magazine, is introducing a non-fungible token (NFT) ticketing platform based on the Polygon network, an Ethereum scaling solution.
"Box Office" was created in collaboration with Ethereum software company ConsenSys, the organization behind the cryptocurrency wallet MetaMask, by Sports Illustrated's ticket marketplace SI Tickets. The first comprehensive NFT ticket service will be made available, according to the announcement made on Tuesday. Event owners, organizers, and promoters will be able to use Box Office to incorporate extra engagement opportunities into tickets, such as highlights, collectibles, and deals, thanks to a feature called "Super Ticket."
The marketplace's initial objective, according to SI Tickets CEO David Lane, was to "disrupt the primary ticket market."
“Blockchain is the future of ticketing, and now owners, promoters, hosts, and attendees have access to an advanced ticketing experience that transforms the antiquated barcode into engaging and collectible content," he stated.
As a potential mass-market application of Web3 technology, the use of NFTs as tickets for live events has frequently been praised. The industry could gain additional momentum if a well-known brand like Sports Illustrated entered it.
“Blockchain technology offers significant benefits for consumers, particularly ticketing, including enhancing payment security, and eliminating scalping and fraud,” said Brian Trunzo, head of business development, North America, for Polygon Labs, in the press release, who added that this launch would help grow consumer adoption.
🎨Palm NFT Studio Rolls Out Generative Art Tool for Creators
The Palm Generative Art Maker, a tool to assist creators in minting generative art collections on the blockchain, was released by non-fungible token (NFT) creative network Palm NFT Studio.
Artists can carefully write their code, store it on-chain, and create a body of generative art using the tool, which provides the necessary infrastructure. The tool makes the process of bulk rendering, trait and rarity systems, and asset generation easier than it was previously for creators without programming knowledge. The tool also enables users to create static and moving 3D assets, as well as text and metadata.
According to Straith Schreder, executive creative director of Palm NFT Studio, the tool will assist larger businesses in creating generative experiences using thousands of assets as well as smaller artists in building their digital art collections.
“If you're a brand or if you're an individual creator, to create in this exponential mode can be costly and intimidating,” said Schreder. “Improving the barrier to entry and improving the barrier to access through this tool felt really important.”
Over the past few years, generative art has become increasingly popular. The tool, which is based on the 3D game development program Unreal Engine, will enhance the capabilities of generative art production by enabling creators to produce in-game assets and metaverse experiences.
“To be able to deliver game-ready assets and 3D collections felt like a really important thing for us to build into our own road map as well as to offer to partners,” Schreder explained.
Since its establishment two years ago with new $27 million in funding, Palm NFT Studio has taken action to promote digital art. The Palm Foundation collaborated with Nadya Tolokonnikova, a member of the Russian activist group Pussy Riot, in March to teach a class on activist art and host a feminist art competition during NFT.NYC in April.
🚀Alibaba Cloud Builds Metaverse Launchpad on Avalanche
Alibaba (BABA), a Chinese IT giant, has created a launchpad for companies to use to develop metaverses on the Avalanche blockchain.
The launchpad, known as Cloudverse, is made to offer businesses a complete platform to maintain and modify their metaverse spaces as they look for new ways to interact with their clients.
According to a Thursday email announcement, Alibaba Cloud will supply the computer power and Avalanche will supply the technology for creating the metaverse areas.
Following its deal with Mysten Labs, the creator of the Sui Layer 1 blockchain, to supply node services for validators on the network's testnet, Alibaba has now formed its second relationship with a blockchain network in less than a month.
When the news was first announced, Avax, the native token of Avalanche, only increased by less than 1%, from $16.86 to $16.98.
🐸Binance Lists PEPE as Meme Coin Market Cap Hits $1 Billion
Two more meme coins have recently been added to the casino by the largest cryptocurrency exchange in the world by volume.
Binance stated last Friday that it would add Pepecoin (PEPE) and Floki Inu (FLOKI) in the platform's purported innovation zone.
Prior to entering, traders must accurately respond to two questions about how much money they could lose by trading in this area (is it greater or less than 50%?). and who would be at responsibility if they do suffer a "total loss" of funds.
The frog-themed token's market valuation has now climbed by 57% for FLOKI and another 77% for PEPE, crossing the $1 billion threshold. Nevertheless, as of the time of publication, neither coin is worth even a penny.
Another cautionary note has been issued by the exchange to potential traders. The listing statement on Binance states, "Please note that, as of the time of writing, PEPE has no token utility or value support mechanism. Additionally, there are indications that a select group of insiders or members of the team were able to purchase 7% of the total token supply shortly after the Token Generation Event.
What is PEPE?
The latest meme coin to skyrocket in value and grab the attention of the crypto community is PEPE. It is based on Pepe the Frog by artist Matt Furie.
According to Coingecko, the coin has increased by a remarkable 1,000% during the last week. By market capitalization, it has surpassed both The Sandbox's SAND token and Fantom's native FTM token to become the 45th-largest cryptocurrency.
In addition to Ethereum's sharp price increase, the frenzy of speculation has driven up gas prices to levels not seen in the past year.
Nigeria Approves National Policy to Create 'Blockchain-Powered' Economy
In an effort to move Nigeria toward a digital economy, the government on Wednesday approved a national blockchain policy.
The policy was created, according to a tweet from the Federal Ministry of Communications and Digital Economy.
"The vision of the Policy is to create a Blockchain-powered economy that supports secure transactions, data sharing, and value exchange between people, businesses, and Government, thereby enhancing innovation, trust, growth and prosperity for all," the statement said.
It doesn't seem like the policy document has been released to the public yet.
The government tightened down on cryptocurrencies in 2021 after the nation emerged as one of the world's fastest adopters of digital assets, but the tweet made no mention of them.
The Federal Executive Council, also referred to as The Cabinet, gave the Central Bank of Nigeria and the Securities and Exchange Commission (SEC) instructions to "develop regulatory instruments for the deployment" of blockchain technology in a number of different economic sectors. Bloomberg earlier last week reported that Nigeria's SEC was considering allowing tokenized currency offerings on authorized digital asset exchanges that were "not crypto" and backed by equities, debt, or property.
"A multi-sectoral Steering Committee has also been approved to oversee the implementation of the Policy," the statement said.