“Warriors of Future” Set to Debut as Asia’s First NFT Blockbuster Movie

Warriors of Future, a multi-million-dollar Hong Kong sci-fi action movie by One Cool Group, seeks to be the first Asian blockbuster film to feature a non-fungible token (NFT) collection. 

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The NFT collection will have 10,000 unique 3D avatars comprising four types of soldiers and is expected to be minted on August 6. It will also be powered on the Ethereum (ETH) blockchain

Warriors of Future will adopt an innovative interchangeable mechanism in the NFT collection, allowing users to interchange traits within the NFTs they hold. 

The interchangeable parts include the background, helmet, arms, armour body, and weapon. The report noted:

“These interchangeable elements will be reflected in real-time in the NFT marketplace. The holder will also be able to use their NFT in action as an avatar in the upcoming Warriors of Future mobile game.”

The Warriors of Future is a film set in the future, whereby the Earth is devoid of life because of pollution and climate change. Nevertheless, a meteorite brings extraterrestrial life to the planet. The movie is expected to be theatrically released in Asia this year, having taken six years to produce.

Ella Wong, the Chief Financial Officer of One Coo Group, pointed out:

“We are so excited to unlock the limitless potential of the entertainment industry powered by blockchain for our next-gen users. Our upcoming film titled Warriors of Future serves as a pioneer in such a collaboration, which allows us to explore more possibilities in the future.”

“We look forward to connecting the best of the entertainment industry in ways and experiences that were not possible before,” he added.

Through the partnership between One Cool Group and Gusto Collective, Warriors of Future NFT seeks to be the first series of a long-term Web3 and entertainment IPs’ integration projects.

Aaron Lau, the founder and CEO of Gusto Collective, stated:

“Web3 is the future of entertainment. It’s a game-changer with a vision for a more open, decentralized, and secure internet, enabled by advances in technologies like blockchain and machine learning. The emerging concept of ownership of digital assets has immense potential.”

Meanwhile, the Abu Dhabi Global Market (ADGM) revealed plans to offer licensed exchanges the chance to trade NFTs earlier this year.

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Ethereum Address Activity Continues Scaling the Heights

Ethereum (ETH) has been experiencing an uptick in address activity, which has been instrumental in propelling notable momentum.

“The number of ETH addresses holding 32+ coins just reached a 17-month high of 117,257. A previous 17-month high of 117,244 was observed on July 27 2022,” Crypto analytic firm Glassnode explained.


Source: Glassnode

Glassnode also pointed out:

“The number of Ethereum addresses holding 1+ coins just reached an ATH of 1,566,309 Previous ATH of 1,566,270 was observed on 27 July 2022.”


Source: Glassnode

ETH addresses holding more than ten coins also hit historic highs. This uptrend in address activity has played an instrumental role in instigating the bullish momentum witnessed in the Ethereum network. 

For instance, the second-largest cryptocurrency was up by 11.09% in the last seven days to hit $1,691 during intraday trading, according to CoinMarketCap.

The recent revelation that the most probable date for the merge would be September 19 has also been pivotal in giving Ethereum an uptick. 

The merge is expected to transform the Ethereum network into a proof-of-stake (PoS) consensus mechanism from the current proof-of-work (PoW) framework, which has been elusive for a few years.

The PoS algorithm will enable the confirmation of blocks in a more cost-efficient and environmentally friendly way because validators will stake Ether instead of solving a cryptographic puzzle. 

Therefore, the merge is anticipated to be the largest software upgrade on the Ethereum network. 

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Dragonfly Capital Completes $3.5M Seed Round Funding For Debt DAO

Dragonfly Capital completed a $3.5 million seed round for crypto credit protocol Debt DAO, according to a press release.


The crypto-focused investment firm was joined by GSR, Numeus and Fasanara Capital in the funding round. Also, six angel investors backed the project in the financing round, including ex-Coinbase CTO Balaji Srinivasan, TrueFi’s Ryan Rodenbaugh and Chainlink Labs’ David Post.

Dragonfly Capital general partner Haseeb Qureshi said in a statement: “right now, debt is one of the big missing pieces from the DeFi universes, and Debt DAO is one of the strongest teams in this space tackling that problem. As on-chain organizations and cash flows proliferate, revenue-generating DAOs will no longer need to sell off their native tokens for working capital. Debt DAO will pull the entire DAO financing ecosystem forward.”

Debt DAO provides revenue-based financing for “crypto native entities,” which includes DAOs and protocols. 

Debt DAO functions through a smart contract called “Spigot,” which the firm says “can secure borrower’s on-chain cash flows to repay lenders automatically.”

In May, Dragonfly Capital completed its third venture fund at an oversubscribed $650 million. The investment firm listed DeFi, DAO, NFTs and scaling smart contracts among its main focus areas.

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Tiffany & Co. to Turn CryptoPunk NFTs into Pendants

Jewellery firm Tiffany & Co. will be turning non-fungible tokens (NFTs) into custom pendants as it joins other luxury fashion houses attempting to establish a foothold in the web3 world.

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The deal has currently only been finalised with CryptoPunk, and holders of those NFTs can turn them into custom pendants containing gemstones and diamonds.

According to Tiffany & Co., the 250 tokens are limited.

The luxury jewellery company announced that CyrptoPunk holders would have to buy one of 250 NFTiff passes by Chain from allowingill allow them to mint a custom pendant based on their NFT.

The company said that the sale for the NFTiff will begin on August 5, 2022 at 10:00AM EST for eligible users.

The price of one NFTiff is 30 ETH. It includes the cost of the NFT, the custom pendant, the chain and shipping and handling.

In terms of design, Tiffany furthermore added that designers would work with 87 attributes and 159 colours. They will appear across the collection of 10,000 CryptoPunk NFTs and match with similar gemstone or enamel colours.

It added that every pendant would include a minimum of 30 gemstones and diamonds with an engraving of the CryptoPunk’s edition number. 

Along with the physical product, a digital rendering of the pendant and a certificate of authenticity will be provided to the owners.

The campaign was first advertised in April after the company’s vice president Alexandre Arnault turned his CryptoPunk #3167 into a pendant.

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UK Consumers Need Better Education on BNPL & Crypto Payments: Research

A recent research study published by ECOMMPAY, an international payment service provider and direct acquirer of bank cards, on Sunday, July 31, shows that although 75% of U.K. consumers consider themselves financially savvy regarding their understanding of the impacts of using Buy Now, Pay Later (BNPL) payments, 24% still require a better understanding of such methods.

Besides that, the study highlighted that more than half of business leaders (54%) still experience several challenges in supporting online financial education for their customers and partners.

ECOMMPAY research also disclosed that 64% of consumers feel financially literate concerning opening up banking and understanding the impacts of payment options. Only 14% of consumers fully understood open banking compared to the previous year.

In terms of cryptocurrencies, the research showed that more than half of the respondents felt they were financially savvy about using crypto assets for payment. However, 46% said they do not understand cryptocurrency or know what it is.

Almost 50% of business leaders surveyed felt it was the responsibility of banks to educate consumers about online financial education, followed by governments (41%) and payment providers (40%).

Paul Marcantonio, ECOMMPAY UK & Western Europe CEO, commented about the development: “Our research has shown that consumers rely heavily on their financial education and are generally smarter when it comes to using the latest financial tools.”

“However, further education and support is still required to ensure that all new payment options can be used responsibly and that consumers are not left in the dark about the implications of trading cryptocurrencies or accepting BNPL schemes. As businesses work to recover and consumers navigate the cost of living crisis, financial education must be a constant to harness the potential of these innovative payment options,” the executive elaborated.

Leadership Taking Charge

While the benefits of crypto lending are clear, consumers must be aware of risks and ways to protect themselves as they navigate the growing new industry.

The recent market crash that has seriously hit several crypto lending firms and their customers warrants importance to consumer education.

With the recent growth of cryptocurrency lending, more consumers are realizing a new way of financial freedom. Thanks to the benefits of decentralized financial protocols and blockchain technology.

Customers who cannot get a traditional loan because of a bank’s minimum deposit requirement, fees, or a low credit score now have options available to them through crypto lending.

In the U.S., a new non-profit organization, the Digital Asset Advocacy Group (DAAG), was launched in April to educate consumers on the opportunities and risks associated with cryptocurrency lending.

In March, the Treasury Department ordered the Financial Literacy and Education Commission (FLEC) to form a new digital asset financial education subgroup to create consumer-friendly, trustworthy and consistent educational materials, tools and outreach to help consumers make informed choices about digital assets.

During that time, the U.S. Under Secretary of the Treasury for Domestic Finance, Nellie Liang, said that history has shown that, without sufficient safeguards, forms of private money have the potential to pose risks to the financial system and consumers.

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Ex-Voyager Executives Suggest Live Trading as Restructuring Plan

Shingo Lavine and his father, Adam Lavine, both equity holders in Voyager and developers of Ethos, a leading cryptocurrency technology company, have proposed a restructuring plan to the troubled U.S. crypto lender.


Lavine’s restructuring proposal filed last week suggests that Voyager suspends all its lending activities and focuses on conducting live trading.

Three years ago, Voyager acquired the assets of crypto tech firm Ethos at about $4 million. This made Shingo Lavine the Chief Innovation Officer at Voyager while he was still a member of the company’s Board of Directors. Shortly after, he left Voyager due to certain disagreements with the company’s direction.

In the turmoil of the current crypto winter, Voyager Digital filed for Chapter 11 bankruptcy with the U.S. Bankruptcy Court of the Southern District of New York. This afforded it the right to come up with an efficient restructuring plan which will create a path to resume account access and return value to customers while reimbursing them. 

Voyager’s Initial Restructuring Proposal

Not cast on stones, the initial restructuring plan was to give customers with crypto in their accounts an assortment of proceeds from the loan owed by Three Arrows Capital (3AC), shares in the newly restructured company, and Voyager tokens. This is in addition to the crypto already in their accounts.

3AC currently owes the crypto assets lender over $650 million in cryptocurrency. Breaking it down further, the previously undisclosed loan is 15,250 Bitcoin (BTC) and $350 million USDC. At hand, Voyager has over $110 million as cash and owned crypto assets. It still has $350 million in its For Benefit of Customers (FBO) account at Metropolitan Commercial Bank.

Voyager has over $1.3 billion in crypto assets on its platform. Although, some of it was planned to be used as liquidity for the day-to-day running of the platform while the restructuring takes place. Not yet to be concluded, but the Lavines’ new 8-step proposal is a shift from these initial plans.

The father and son wish their new firm Emerald would become a pivotal collaborator with Voyager in the restructuring process. The bottom line of their plan is to integrate live trading and issue a recovery token to customers to retain them on the platform.

A snippet of the plan sought to “provide major additional upside to unsecured creditors and incentivize customer retention through a ‘recovery token’ in addition to VGX Tokens. Give everyone a shot at full, or even above 100%+ recovery.”

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Crypto Clients Pleading for Funds Payback after Lender Celsius’ Crash

Customers caught in the meltdown of crypto lending firm Celsius Networks are pleading for their deposits to be paid back.

Hundreds of letters have poured into the judge overseeing the company’s multi-billion-dollar bankruptcy. Such letters are filled with heavy anger, shame, desperations, and regrets.

These letters, which come from across the globe, recount tragic losses of customer funds after Celsius’s frozen withdrawals.

Most letters mentioned the CEO’s AMA (Ask Mashinsky Anything) online chats as key to their trust in him and the platform, which presented itself as safe and stable until days before it froze funds.

A customer, who disclosed having $32,000 in crypto funds deposited in the Celsius platform, wrote to the judge: “Right up until the end, the retail investor received assurance.”

But that changed quickly on June 12 when Celsius froze customer funds to place itself in a better position to honour, over time, its withdrawal obligations. Clients received the news in a message from the firm.

“By the time I finished the e-mail, I had collapsed onto the floor with my head in my hands and I fought back tears,” a man who had about $50,000 in assets with Celsius narrated in his letter.

Another man wrote that he placed $525,000 he obtained from a government loan on Celsius and disclosed he had considered killing himself.

Many customers, who acknowledged being hit hardest by the incident, said they had considered suicidal attempts.  

Others also said they experienced excessive stress, lack of sleep, and feeling embarrassed for putting their retirement savings or their children’s college funds into a platform that was much riskier than they never thought of.

Celsius was a private unregulated company that did not come under any requirement for disclosure. The hopes of most clients, like an 84-year-old woman, who put her only $30,000 in crypto savings on Celsius, now lie in the bankruptcy proceedings.

How Celsius Lured Investors

Crypto assets have been hard hit by fears that interest rate hikes will end the era of cheap money. The world’s largest digital asset, Bitcoin, is down more than 56% from this year’s high.

Several crypto companies such as Celsius Network, Three Arrows Capital, Voyager Digital, Vauld, and BlockFi have filed for bankruptcy or have been forced to look for emergency capital infusions.

The collapse of the greater crypto ecosystem shows that the days of customers collecting double-digit annual returns on Celsius and some of the above-mentioned crypto firms are over.

Celsius promised big yields as a means to onboard new customers. But this was a big part of what led to its eventual downfall.

Three weeks after Celsius halted all withdrawals because of difficult market conditions, the platform was still advertising annual returns of nearly 19% paid out weekly on its website.

Such promises helped to lure in new users rapidly. As of June, Celsius said it had 1.7 million customers.

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Three Crucial Expectations from the Crypto Market in August

The digital currency ecosystem seems to be carving out a resistant path for itself recently, with the combined crypto market capitalization staying consecutively above the $1 trillion benchmark


The market is now seeing impressive price recoveries across the board, with Bitcoin (BTC) surging past the $23,000 resistance point and Ethereum (ETH) charting a 30-day high of $1,774.58. Overall, the market is showing signs that the crypto winter may be wrapping up, but while investors may want to start bagging new coins in their portfolios, these three key expectations should stay at the top of their minds for August.

1. The Global Economy is not Out of the Woods Yet

One of the key reasons why the crypto ecosystem was nosedived was the inconsistency in the global economy. While the economy is still recovering from the onslaught of the coronavirus pandemic, Russia’s invasion of Ukraine also contributed immensely to the strain on the global supply chain.

This economic instability has plunged many nations into recession, including the United States, which has been grappling with soaring inflation over the past 2 quarters. With Q2 GDP also dipping low, and rising interest rates, the negative outlook of the US economy alongside other developed nations might continue to weigh in on the stock market, and by extension, on the crypto ecosystem.

2. Institutional Investors’ Focus Can’t Fuel Massive Rally

The flow of institutional money into the digital currency ecosystem in 2021 accounted for one of the reasons why the industry experienced such massive growth that pushed Bitcoin to an All-Time High (ATH) above $69,000 at the time.

While corporate money is still flowing into the digital currency ecosystem, it is important to note that the focus is different this time. Investors are bootstrapping projects with the right fundamentals and infrastructure that can support the future Web3.0 everyone has been clamouring for.

As such, investors’ money will be visible in August, but investment decisions should not be made with the hope of these funds charting quantum leaps

3, Crypto Volatility May Be More Resounding

The macroeconomic climate will also stir a massive price fluctuation across the board in August. While this is bound to be an all-encompassing trend, Ethereum investors will need to be more watchful as the fast-approaching The Merge that will usher in Ethereum 2.0 will likely fuel massive price volatility as positions will be opened and closed on a more consistent basis.

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Facebook’s Metaverse “Will Misfire”, Says Vitalik Buterin

Vitalik Buterin, the co-founder of the Ethereum blockchain platform, raised some doubts Sunday concerning efforts by existing corporations to create metaverse. According to Buterin, any corporations trying to develop the Metaverse nowadays will fail.

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Although the Ethereum co-creator admitted that the Metaverse “is going to happen,” he thinks that efforts by current firms towards creating the metaverse are not going anywhere.

One of the most outstanding corporations showing interest in the Metaverse landscape is Meta Inc. (formerly Facebook).

Buterin talked about Meta Inc., as part of his critique of the corporate players entering the space. On early Sunday, Buterin tweeted: “Anything Facebook creates now will misfire” and added that Metaverse-focused firms would likely fail because “it’s far too early to know what people actually want.”

Are Metaverse-Focused Companies Really Making Profit?

Butern’s announcement comes after Meta Platforms, last week on Wednesday, posted a second-quarter loss of $2.81 billion in its Reality Labs, a division in charge of Meta’s augmented, virtual reality, and Metaverse operations.

That figure was down slightly from the loss that Reality Labs witnessed in the first quarter – $2.96 billion.

Reality Labs generated revenue of $452 million in the second quarter, down from $695 million in the first quarter. That was a small fraction of the $28.4 billion generated in the second quarter from Meta’s family of apps, which includes Facebook, WhatsApp, and Instagram.

Meta spent $10 billion on the Metaverse in 2021, but the move to the landscape is dragging its profitability down.

Meta is currently facing financial difficulties that, in its long history, it has never witnessed in the last 10 years.

Facebook’s decade-long streak of the nonstop revenue growth came to an end this year as its Reality Labs division continues to lose billions of dollars. Last week, the social media giant said that it expects such losses to grow in the third quarter.

In October last year, Mark Zuckerberg changed Facebook’s brand name to Meta Inc., as part of a broader strategy shift toward the so-called metaverse that aims at introducing people to shared virtual worlds.

Apart from Meta Inc., some of the major tech giants that have invested big in Metaverse, including Microsoft, Nvidia, Unity Software, Shopify, Roblox, and Qualcomm.

Roblox is one of the biggest success stories in the metaverse. While the global gaming platform has 54 million users a day in the metaverse, its revenue has been quite low, an opposite scenario from what people may expect in real life. Fortunes media elaborated that in early June.

This means that these companies have still not developed metaverse products that users find useful. And therefore, still have a long way to go to prove Buterin wrong.

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Ethereum’s Vitalik Takes a Jab at Michael Saylor, Calls Him a “Total Clown”

The question of the security status of Bitcoin (BTC) and Ethereum (ETH) seems to be pitching many notable figures in the digital currency ecosystem against one another.


Known as one of the prominent figures in the crypto space, Michael Saylor seems to have unnerved Ethereum’s co-founder, Vitalik Buterin, with his position that “Ethereum is inherently unethical because its existence violates securities laws which have their basis in the 10 commandments.”

Michael Saylor leads his company, MicroStrategy Incorporated, on a mission to make Bitcoin the primary reserve currency. Thus far, the company has accumulated over 120,000 BTC units, and Saylor is always gushing about how Bitcoin is the revolutionary money for the new world order.

Personalities like Michael Saylor are called Bitcoin Maximalists, believing in no other digital currency and their inherent potential. Taking his pessimism about Ethereum seems to fall on the bad side of Vitalik, who posed a question in a counter tweet;

“Why do maximalists keep picking heroes that turn out to be total clowns?” 

The series of tweets have brought many stakeholders in the digital currency ecosystem to wade in, expressing their thoughts on the issue. While many believe Michael Saylor is wrong for talking down on Ethereum as a security, a whole lot of others believe in reality, the issuance of Ethereum and the role of the Ethereum Foundation do indeed appear to be a security.

The question of what digital currency constitutes a security is one that will always remain vague in the US, at least, until there is some sort of clarity from the appropriate authorities.

The US Securities and Exchange Commission (SEC) is currently in court after suing Ripple Labs for selling XRP coins as securities. The confusion this lack of definition has fueled the stunted growth of the industry, and stakeholders will feel more relieved should the law regarding this be clearly spelt out.

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Bitcoin (BTC) $ 27,719.43 1.03%
Ethereum (ETH) $ 1,646.61 0.10%
Litecoin (LTC) $ 64.71 0.52%
Bitcoin Cash (BCH) $ 231.91 1.68%