Trait Sniper Weekly News 13 (22.08 - 28.08.2022)
The blockchain and NFT markets have seen a relatively quiet week as Bitcoin and Ethereum prices significantly fall. Trait Sniper has gathered some highlights that you should read below!
Blockchain Market
Tether not blacklisting Tornado Cash
The U.S. government banned the crypto-mixer Tornado Cash earlier this month, alleging that North Korean hackers were using the protocol to perform illegal transactions. The Treasury Department emphasized that the usage of Ethereum addresses or the Ethereum protocol itself would be forbidden.
Within hours following the penalty, Circle, the issuer of stablecoin USDC, banned Tornado Cash smart contracts. "We believe that, if made without instructions from U.S. authorities, the move by USDC … was premature and might have jeopardized the work of other regulators and law enforcement agencies around the world,” stated Tether. Paxos, the issuer of stablecoins BUSD and USDP, and algorithmic stablecoin DAI, which holds 36% of its assets in USDC, have likewise not blocked Tornado Cash addresses, according to Tether.
Telegram Founder May Open An NFT Marketplace for Usernames
The popular cross-platform, cloud-based instant messaging service Telegram is considering incorporating NFT technology into its ecosystem. There are currently no official plans for Telegram to use NFTs, however, this might change in the future. However, in recent weeks, Pavel Durov, the creator of Telegram, has expressed his determination to investigate the possibilities of NFT technology.
On his own Telegram profile, he commented, “Imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group and channel links for auction.” Regarding the marketplace's potential, he said, “This would create a new platform where username holders could transfer them to interested parties in protected deals, with ownership secured on the blockchain via NFT-like smart contracts.”
In addition, he discussed additional elements of the Telegram ecosystem that use NFT technology, such as channels, stickers, and emojis.
NFT Market
Reddit Airdrops Free NFTs To Its Most Loyal Users
The social media/community platform Reddit is airdropping free Polygon blockchain NFTs to its most loyal users. The 'Collectible Avatars' were released last month, and those who do not qualify for the airdrop may purchase them.
Recently, in June of this year, Reddit collaborated with Gary Vaynerchuk's VaynerNFT to develop 'The ABCs of NFTs Playbook,' an introduction to NFTs for new users. Notably, the r/NFT community on the site has 490,000 members, thus the appeal of NFTs among Reddit users is evident.
The community platform announced on the server: r/CollectibleAvatars that they’d be airdropping collectible avatars to their top community builders, for free. They also mentioned that there are 4 different styles of Collectible Avatars which qualified users could choose from.
To clarify, users must have a minimum quantity of 'Karma' is able to qualify. On Reddit, karma reflects the significance of your contributions to the community. There are many methods for users to gain karma: posting, commenting, and giving/receiving prizes.
Greg Hildebrandt and Steve Aoki To Drop NFTs on Solana
Steve Aoki has extensive experience in the Metaverse. Aoki is one of the most innovative voices in the metaverse, from his genesis NFT collection 'Dream Catcher' in 2021 to the establishment of his NFT membership community A0K1VERSE soon afterward, to his current collaborations with Neon Future and Heavy Metal.
Aoki continues to break barriers and combine the physical and digital worlds by introducing the physical into the digital space. There will be hand-drawn, one-of-one digital signatures among the 777-piece NFT collection, including 43 with Aoki's signature, 43 with Greg Hildebrandt's signature, and 43 with Impact Theory creator Tom Bilyeu's signature. Especially, buyers may be able to mint one of the seven notes that have the signatures of all three guys.
Final Thoughts
The market continues to accept new discoveries and ideas linked to NFT, including large names like Telegram and Reddit, in addition to the already people who remain active and creative in the metaverse world such as Steve Aoki. This is the next step for companies’ and individuals’ expansion into the blockchain, cryptocurrency, and NFT spaces.