In a series of tweets today, Lucie of Shibarium, a prominent figure within the Shiba Inu community, addressed various concerns and provided clarifications about the project’s direction. The tweets, which garnered significant attention, emphasized the project’s commitment to transparency and its dedication to building a sustainable ecosystem.
Lucie highlighted several resources for the community to refer to for accurate information:
* The upcoming update to the Shibarium Technical Documentation.
* The official Shib blog.
* The abridged version of The Shib Paper.
Lucie highlighted the active development of Decentralized Autonomous Organizations (DAOs) in the ecosystem. When these DAOs become functional, they will empower community members to suggest and cast votes on different issues, bolstering the project’s decentralized nature.
Reiterating the project’s commitment, Lucie stated,
We are committed to transparency, and no information is being hidden.
She also emphasized the importance of understanding the project’s plan in its entirety.
Addressing the topic of token burns, Lucie acknowledged that while the burns might appear minimal, they have been executed. The overarching goal, she noted, is to
onboard millions of people who will create games, use the metaverse, and engage with other DApps with MINIMUM cost.
Lucie also cautioned the community against misinformation and urged them to be wary of individuals with malicious intentions. Referring to past incidents, she mentioned certain YouTubers who spread negativity about Shibarium and later engaged in deceptive practices like executing rug pulls.
Recently, Shiba Inu faced numerous questions from fans due to the plunge in SHIB’s price. As reported by Blockchain.News, Shiba Inu‘s cryptocurrency, SHIB, saw a 36% price drop after an initial surge during the “Summer of Shibarium.” The summer campaign, announced on July 15, promised significant updates, including the launch of Shibarium, a Layer 2 blockchain solution. After the announcement, SHIB’s price rose by 50%, but it soon declined, correlating with a 13% drop in Bitcoin’s value. On SHIB’s peak day, its 24-hour trading volume on Binance increased by over 100%. As Bitcoin traditionally underperforms in September, SHIB’s future remains uncertain. The summer’s events highlight the need for investor caution and strategic selling decisions.
In a concluding tweet, Lucie responded to critics who had previously claimed that Shibarium did not exist. She emphasized the active use of Shibarium and the project’s plans for its extensive utilization in the future, hinting at initiatives like Shiba Eternity, Shib the Metaverse, and Shibahub.
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At Paris Blockchain Week 2023, a panel of experts in Web3 gathered to discuss the ways in which this new paradigm is transforming the startup and investor landscape. The panel discussion titled “Crypto, Culture, and Capital: How Web3 is Changing the Game for Startups and Investors” focused on the opportunities and challenges that come with the emergence of Web3.
Web3 represents a fundamental shift from the traditional Web2 paradigm, with new opportunities for startups and investors. The panelists discussed how Web3 startups are different from Web2 startups, with different cultures shaping and affecting the various ecosystems.
Laurenz Apiarius, founder and managing partner of Blockwall Digital and Blockwall Capital, noted that there are positive and negative effects of the Web3 revolution. While there have been awesome milestones achieved by Web3 entrepreneurs, there are also negative effects resulting from entrepreneurs who take advantage of the Web3 narrative. Some entrepreneurs overestimate their valuation, failing to deliver on their promises, which harms investors who lose money in the process.
Amos Meiri, founding partner of Node Capital, emphasized the need for investors to understand the technical, legal, and marketing aspects of the projects being built. Meiri stated that it is crucial for investors to support entrepreneurs in the right way, helping them navigate the challenges of the Web3 landscape.
Igneus Terrenus, head of partner relations of BitDAO, spoke about the decentralized autonomous organization (DAO) model of Web3 startup governance. DAOs are organizations that operate through rules encoded as computer programs, with decisions made through a consensus mechanism. Terrenus noted that while the DAO is not a perfect model, it offers exciting opportunities for startups and investors. DAOs can help to reduce the need for intermediaries, increasing efficiency and reducing costs.
However, the success of DAOs depends on incentivization and education of stakeholders. DAO stakeholders need to be incentivized to participate in the decision-making process, and educated about the rules and processes involved.
The panelists also discussed the challenges that entrepreneurs face in navigating the Web3 landscape. Web3 startups require a deep understanding of technology and legal frameworks, which can be daunting for many entrepreneurs. In addition, the lack of clear regulatory frameworks for Web3 startups can make it difficult for entrepreneurs to operate in a compliant manner.
Despite these challenges, the panelists were optimistic about the potential of Web3 to transform the business landscape. With its disruptive potential and new opportunities for startups and investors, Web3 represents a major shift in the way we think about business and innovation.
The emergence of Web3 has also led to a renewed focus on building community resilience to crises through mutual aid. The Web3 paradigm emphasizes decentralized, peer-to-peer networks that enable individuals and organizations to collaborate and support each other. This can be seen in the rise of decentralized finance (DeFi) platforms that allow individuals to lend, borrow, and invest in a decentralized manner, without the need for intermediaries.
Overall, the panel discussion highlighted the exciting opportunities and challenges that come with the Web3 revolution. With its potential to disrupt traditional business models and provide new opportunities for startups and investors, Web3 is set to transform the way we think about innovation and entrepreneurship.
Illuvium, an interoperable blockchain game, is working to be a leader in decentralized governance and Web3 gaming. As part of this mission, the project’s community leveraged its decentralized autonomous organization (DAO) to cancel an NFT pack-opening event between Illuvium CEO Kieran Warwick and Three Arrows Capital (3AC) founder Su Zhu. The event, an “Influencer Illuvitars D1sk Battle,” was part of a series where prominent crypto personalities go against each other to open NFT packs.
However, due to the controversies surrounding Zhu and 3AC, Illuvium’s community expressed concerns over the potential risks of being associated with Zhu, who currently faces various accusations of unethical behavior. Illuvium’s CEO suggested that the matter be voted on by its decentralized council, and following this, the council unanimously voted to cancel the event to avoid any association with Zhu.
According to Illuvium’s council member Deraji, the Illuvium project is committed to avoiding potential association with unethical individuals and incidents that may impede mainstream adoption. “In this case, the community made their collective voices heard that this event risked the reputation that the DAO has worked so hard to build. We leveraged our governance model to avoid having our most well-known figure share a stage with Zhu,” Deraji explained.
The Illuvium CEO accepted the outcome and voiced his confidence and belief in the community’s decision. “Although I weighed the benefits against the drawbacks, I will always respect the council’s verdict,” he said.
The DAO’s decision to not risk association with 3AC may have saved them from potential repercussions. On Feb. 10, a crypto exchange project associated with 3AC triggered a backlash from members of the crypto community. Many people were enraged by the launch, with some swearing never to use the exchange.
Additionally, community members have constantly voiced their disapproval of Zhu for his role in the 3AC bankruptcy. On Jan. 3, the 3AC founder started firing off accusations at the Digital Currency Group, alleging that it conspired with FTX to target Terra. However, community members called out to Zhu and asked him to focus on his own misdeeds.
This incident highlights the power of decentralized autonomous organizations and the importance of avoiding potential association with individuals who may harm a project’s reputation. By listening to its community and leveraging its DAO, Illuvium was able to make a decision that aligned with its values and mission.
The digital asset management (DAM) market is expected to generate revenue worth $9.32 billion by 2028 based on soaring demand, according to a report by SkyQuest Technology Consulting.
With a market value of $3.68 billion set in 2021, this sector is speculated to record a compound annual growth rate (CAGR) of 14.2% during the 2022-2028 forecast period.
Since the global society is becoming digital-centric, some key trends expected to drive this market include financial institutions’ heightened adoption of blockchain technology for transparency and traceability purposes.
Furthermore, the diversification of crypto investment products is anticipated to propel the DAM market. Per the report:
“Several providers are expanding their cryptocurrency investment offerings beyond simply providing exposure to digital assets via derivatives or tokens. These platforms are also offering managed accounts and other services that make it easier for investors to get started.”
Since DAM enables organizations to manage, store, and track digital assets like documents, videos, and images, the usage of decentralized autonomous organizations (DAOs) is rising.
SkyQuest pointed out:
“Several players in the global digital asset management market are increasingly incorporating DAOs into their offerings, as this type of arrangement provides users with more control over their assets and helps reduce costs associated with traditional approaches such as custodial solutions.”
Businesses also leverage the digital asset management market to protect their intellectual property and optimize their information strategies and communication. As a result, index funds and hedge funds are eyeing this sector.
Per the report:
“Many hedge fund firms are starting to explore the potential of investing in digital assets, as this sector has shown strong growth in recent years.”
SkyQuest intended to comprehend trends in operations and consumer behaviour in the digital asset management market through the study.
Meanwhile, the blockchain in the manufacturing market is expected to render revenue worth $766.2 million in 2030, according to a recent report by Verified Market Research.
AssangeDAO has received $41.48 million in a bid to set Julian Assange free.
The DAO is aiming to win an online auction of an NFT collection by Pak.
The proceeds from the sale will go to Assange’s legal fund.
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AssangeDAO has raised 13,268 Ethereum ahead of Pak’s NFT auction dedicated to Julian Assange.
DAO Raises $41M for Julian Assange
AssangeDAO has received over $41 million worth of Ethereum to help free WikiLeaks founder Julian Assange.
Through a still-running raise that launched on Feb. 4, AssangeDAO has received 13,268 Ethereum worth around $41.48 million through a crowdfunding platform calledJuiceBox.
The aim of the crowdfund is to bid in an online auction for an NFT collection called Censored, which was created by Pak in partnership with Assange. The proceeds from the sale will go to Assange’s legal fund and increasing public awareness on his case. Contributors to the DAO will receive governance tokens with the ticker symbol JUSTICE, which will be used to vote on key decisions affecting the DAO.
Launched in December 2021, AssangeDAO describes itself as a “collective of cypherpunks fighting for the liberation of Julian Assange.” DAOs typically form on Ethereum and are quickly gaining popularity as a way of coordinating groups in a decentralized manner via the blockchain. AssangeDAO is the latest DAO that’s gained significant traction in support of a specific cause, following other similar ventures like ConstitutionDAO and FreeRossDAO. In this case, the DAO is hoping to raise funds in a bid to free Assange.
An Australian-born activist and the founder of WikiLeaks, Assange gained notoriety after his publication reported on alleged acts of corruption within the U.S. government, sharing classified records and anonymous sources.
Assange and his work at WikiLeaks came to the public spotlight after a series of highly-controversial exposes involving the U.S. military were released in 2010. WikiLeaks was also among the first websites to accept Bitcoin and helped bring mainstream exposure to the asset early into its lifetime.
The U.S. government launched a criminal investigation into Assange and charged him with violating the Espionage Act of 1917 by leaking classified information. Assange famously went on the run, avoiding extradition to Sweden before taking refuge at the Embassy of Ecuador in London in 2012. Assange’s asylum was withdrawn in 2019 and he was arrested for breaching the Bail Act. He’s currently imprisoned in London fighting extradition to the U.S.
Disclosure: At the time of writing, the author of this piece owns ETH.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
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One of Pantera Capital’s investors, Paul Veradittakit, was brave enough tomake predictions for this yearin the tumultuous world of crypto. Even though we applaud the courage, we’re going to poke holes in them. Because this is the Internet and that’s what we do here. To be clear, the author went through 2021 biggest trends and extrapolated them into the future. Which is a safe enough technique.
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Considering Pantera defines itself as the “first U.S. institutional asset manager focused exclusively on blockchain,” you know Veradittakit didn’t even mention Bitcoin. The following is a purely crypto affair. It’s also worth noticing that the biggest criticism that Web3 gets is that it’s funded by venture capital and they’re the ones who will ultimately benefit from it. And, well, that’s just what Pantera is and does.
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In any case, let’s explore Veradittakit’s ideas and predictions.
Pantera On L2s and Rollups
Surprisingly, the article starts by throwing Ethereum under the bus. According to Veradittakit, all the action will be on L2s. Those grew tremendously in 2021, and the Pantera investor considers them essential to Ethereum’s scalability.
“As mainstream adoption of crypto continues to grow, Ethereum’s network congestion will only become worse, exacerbating its problems with latency and fees. Rollups are critical to sustaining the growth of Ethereum by ensuring that compute infrastructure is highly scalable, allowing users to interact with dApps with similar or even better expectations around usability as with traditional web apps.”
Reading between the lines, this prediction also says that Ethereum is not going to release any of its network upgrades this year. Which sounds about right.
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Pantera On Non-Ethereum/Bitcoin Chains
This prediction refers to the battle of the L1s, or the supposed Ethereum killers. The Pantera investor is obviously partial to one in particular:
“Recent activity in the Solana community, including the launches of massive funds for decentralized social media and gaming, suggests that the ecosystem will continue to grow immensely in the coming year.”
First of all, you can’t have “decentralized social media and gaming” in a centralized platform like Solana. Second, Veradittakit forgets to mentionSolana’s constant technical problemsand outages. Make of that what you will.
Another tendency the author mentions are bridges, “which enable interoperability between vastly different networks,” which he considers will “accelerate the growth of non-Ethereum ecosystems.” Or, to put it more bluntly:
“Overall, these advancements in cross-chain infrastructure will accelerate the speed at which alternative layer one chains gain traction, fostering the development of a truly robust, diverse multi-chain crypto ecosystem.”
What the Pantera investor really means is that all other L1s will keep leaching on Ethereum. Which sounds about right.
SOL price chart on FTX | Source: SOL/USD on TradingView.com
Veradittakit On Composability and Web3
This theme ties with the previous one. But the Pantera investor gets into a very interesting topic:
“Decentralized identity projects, which allow users to maintain full, more precise control over personal data and reputation, enabling use cases around un-collateralized loans, know your customer (KYC) rules, and more. In 2022, we’ll see more projects expand the scope of on-chain ownership, allowing users to have full, functional control over their identity and holdings in the digital world.”
One thing’s for sure, the world needs “a single login across all services”. No one can handle the number of passwords we’re supposed to remember. This is a real problem. In the article, however, the author focuses on Ethereum-based solutions. We would like to mention that there’san alternative that uses the Lightning Network. And, you know, that runs over a network that’s actually decentralized.
Pantera On Expansion of NFTs
This is his least controversial take. Veradittakit thinks “NFTs will continue to grow immensely in popularity through the coming year”. He elaborates:
“NFT projects in 2022 will show substantially more diversity in use cases and will reconfigure how we interact with and think about ownership of digital media more broadly.”
However,paraphrasing Vitalik, NFTs have to live through a bear market before they can be considered a success. Is there going to be a bear market in 2022? Probably not. So, Pantera’s prediction stands.
Veradittakit On Decentralized Autonomous Organizations
This prediction is also fairly uncontroversial:
“Given their heightened prominence, I expect to see DAOs become a mainstream vehicle for online organizing and collective action, helping individuals across the globe get actionably involved with causes they care about.”
And the Pantera investor follows it up with this one:
“As DAO operations grow in complexity, I expect to see even more projects building out DAO tooling and infrastructure in 2022.”
More DAOs and tools to manage them? That sounds about right.
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Pantera On DeFi Security
This prediction starts with chilling stats:
“More than $610 million were stolen through DeFi exploits in 2021 (a staggering eightfold increase from $77 million in 2020), and an additional $704 million in funds were stolen and then later returned by white hat hackers, like those behind the $600 million PolyNetwork exploit.”
Considering 2021 was the year of DeFi, this should come as no surprise. Criminals follow success and attention. In any case, look at those numbers and extrapolate them to what they would be if DeFi achieves mainstream status.
“In 2022, I expect to see security become a tremendous focus for DeFi projects, and anticipate several more projects launch around better smart contract auditing, precise runtime monitoring, and consumer protections.”
The question here is, is that enough? Or are smart contracts a security risk by definition? Will anyone be able to build an unhackable DeFi protocol? Who will win this race?
Featured Image by JohannaIris in Pixabay | Charts by TradingView
Twitter is hiring an additional leader for its crypto division, according to a newly published job posting.
The job posting suggests that Twitter will explore DAOs, membership tokens, and other crypto applications.
The new hire will work alongside Tess Rinearson, who was recently hired to lead Twitter’s crypto division.
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Twitter is recruiting an additional leader for its cryptocurrency division, according to a newly published job posting.
Twitter Seeking Crypto Product Manager
The new hire will serve in the role of “Senior Product Manager, Crypto” to explore blockchain, cryptocurrency, and Web3.
The hire will work alongside Tess Rinearson, who was previously hired by Twitter following her earlier work on the blockchain projects Tendermint and Interchain.
Rinearson personally shared the job posting today, noting that the new hire will be “her thought-partner in exploring all of the opportunities.” This suggests Rinearson will continue to serve in her current role as Crypto Engineering Lead.
Rinearson also suggested that more job descriptions for engineering roles will soon be posted as well.
Job Posting Points to More Crypto Plans
The job posting reveals some of Twitter’s potential future cryptocurrency plans. Notably, it mentions that the company plans to explore membership tokens—implying that Twitter could issue its own custom blockchain token in the future.
The posting also says that the firm will explore decentralized autonomous organizations or DAOs, a blockchain-based governance method that could presumably grant coin holders some input on Twitter’s development decisions.
Finally, it suggests that Twitter’s crypto division could collaborate with Bluesky, the company’s social media decentralization arm.
Will These Products Come to Fruition?
The job posting does not mean that the company will necessarily launch products in any of these areas—only that it will explore them.
Still, Twitter has followed through on earlier plans. In September, it introduced Bitcoin tipping after plenty of anticipation.
The company also introduced NFT profile pictures this week, albeit only for “Twitter Blue” members. Today’s job posting indicates that Twitter likely plans to continue working with NFTs in the future.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
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A newly-formed group called BlockbusterDAO aims to raise $5 million to buy Blockbuster from Dish Network.
The DAO plans to raise funds by minting NFTs, which will be sold to investors at a price of 0.13 ETH ($530) each.
If the purchase is successful, the DAO will spend funds on partnerships and on building a streaming video service.
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An Ethereum-based DAO named BlockbusterDAO has announced in a Twitter thread that it is aiming to raise $5 million in NFT sales in order to purchase the Blockbuster video rental brand.
DAO Seeks to Acquire Blockbuster
The group, operating on Twitter as BlockbusterDAO, aims to raise $5 million in ETH. It aims to do so by minting and selling original NFTs that will be priced at 0.13 ETH ($530) each.
The $5 million offer is based on a “low ball” estimate of $1.8 million previously put forward by Retail Ecommerce Ventures CEO Tai Lopez. REV has successfully bought brands such as Pier 1 and RadioShack, suggesting that the estimate is a fair one.
Either entity would need to buy Blockbuster from the U.S. television provider Dish Network, which currently owns the brand.
Though several Blockbuster franchise stores remained open after Dish Network acquired the brand in 2011, only one outlet has remained open since 2019. Dish has nevertheless continued to use the Blockbuster brand in its digital streaming services.
Group Aims to Build Streaming Service
If BlockbusterDAO successfully buys the Blockbuster brand, it aims to build a new video service around the name. It plans initially to buy festival films and to partner with other distributors and companies.
“Our mission is to liberate Blockbuster and form a DAO to collectively govern the brand,” the group wrote, meaning that it will allow members vote on future investments and budget allocation.
BlockbusterDAO added that it plans to “turn Blockbuster into the first-ever DeFilm streaming platform” and a “mainstay of…the Web3 brands.” Eventually, the project aims to build its own streaming service, with movie passes issued as Ethereum ERC-20 tokens.
The effort is currently being led by Tasafila.eth, who is also the founder of Superinfinity, a DAO focused on NFT ownership.
What Is a DAO?
DAOs, or decentralized autonomous organizations, are organizations that nominally have no central leadership and are instead often governed by a vote from a community of governance token holders. Those who invest in a DAO usually gain the right to vote in key decision-making processes.
Certain DAOs, such as Gitcoin and MolochDAO, have raised funds for development in the Ethereum ecosystem. Some popular cryptocurrencies, such as Dash and Dai, are also governed by DAOs.
DAOs attracted mainstream attention this November when a group of crypto investors raised funds to buy a rare original copy of the U.S. Constitution from a Sotheby’s auction. That DAO raised $45.6 million towards its goal but was ultimately outbid.
Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and other cryptocurrencies.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
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Virgil Abloh was exploring launching a DAO, social token and NFTs prior to his death, Fred Ehrsam has revealed.
Ehrsam said that Abloh wanted to enter Web3 to “change the balance of power in favor of creators.”
Abloh reportedly inspired many artists to join the NFT boom as the technology started to attract mainstream attention this year.
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Abloh was “ahead of the curve on Web3,” Ehrsam said.
Virgil Abloh Saw Potential in Web3
Virgil Abloh had a keen interest in crypto and Web3, Paradigm co-founder Fred Ehrsam has revealed.
In a Sunday tweet storm, hours after news of Abloh’s death had surfaced online, Ehrsam shared a post detailing how he had been in contact with Abloh to help him launch a DAO and run of NFTs. “Virgil Abloh was a pioneer in music, art, and fashion. Most people don’t know he was also ahead of the curve on Web3,” Ehrsam wrote.
Virgil Abloh was a pioneer in music, art, and fashion. Most people don’t know he was also ahead of the curve on Web3.
Shared with permission from his team, here is an early iteration of a DAO he envisioned.https://t.co/nb0hSmnAi9
— Fred Ehrsam (@FEhrsam) November 29, 2021
Ehrsam shared a link to a document in which Abloh outlined his vision for a DAO. The project, titled “Skyscraper,” involved plans to launch a social token, form partnerships with crypto-native projects like Zora, and design NFTs. A quote from Abloh in the project’s preface reads:
“What I have been running in my head is to start a real-life, digital museum. For it to become an institution where the currency used in that space is my unique social token. Inside the space will be my work, but also the work of a community of adjacent artists operating on a token of the space.”
Ehrsam’s post also revealed that Abloh wanted to explore Web3 to “inch us a little closer toward a utopia for creativity.” He added that Abloh “wanted to fundamentally change the balance of power in favor of creators,” and that their conversations had taken place months before the NFT space exploded in 2021. According to Ehrsam, Abloh’s belief in the Web3 space inspired a wave of creators to join the NFT movement as it started to gain traction throughout the year.
Ehrsam concluded the note with a preview of Abloh’s first intended NFT, which depicts his envisioned DAO smashing into the Louvre in a nod to Web3’s potential to disrupt gatekeeping in the traditional art world.
“Self Portrait” by Virgil Abloh (Source: Fred Ehrsam)
Abloh died of a rare form of cancer aged 41 Sunday. LMVH announced the news on social media, revealing that he had been battling the disease privately for several years. Abloh was regarded as a visionary in the creative industry. He was best known for overseeing the popular fashion house Off-White and went on to become the artistic director of menswear at Louis Vuitton. Beyond the fashion world, he was also an avid DJ and curated the visual direction for some of Kanye West’s most iconic albums. Pharrell, Drake, and Gigi Hadid led the tributes to Abloh following the news of his death.
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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
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Standardized Token Protocol has announced the launch of Verse Network, an EVM-compatible sidechain optimized for DAOs.
Verse Network Debuts
DAO infrastructure is receiving a boost with a new, dedicated sidechain.
Standardized Token Protocol (STP) announced the launch of Verse Network Monday, a sidechain tailored to the needs of decentralized autonomous organizations (DAOs). Verse Network will provide a censorship-resistant, front-running resistant, high-performance sidechain optimized for DAOs and decentralized applications.
STP founder Mike Chen commented on the launch, stating:
“Verse will be an all-encompassing platform for any network, community, and organization to decentralize decision-making effectively and for developers to seamlessly launch decentralized applications.”
Currently, DAOs are limited in their governance activities beyond proposal voting. Verse will allow DAOs to expand how they interact with their communities while incentivizing participation and engagement at a low cost.
Verse Network is built on the Meter SDK, meaning it will be backward compatible with the Ethereum Virtual Machine. Additionally, the Meter SDK cross-chain protocol will allow communication across heterogeneous chains, enabling interconnection with blockchain clouds like Ethereum, Binance Smart Chain, and Polkadot.
Meter is a decentralized Ethereum scaling solution with a built-in metastable gas currency. The protocol has secured several high-profile partnerships with leading Layer 1 chains such as Avalanche, Harmony, and Elrond.
DAOs have seen exponential growth in 2021, most notably from DeFi protocols and investment funds delegating governance to their communities. With the help of Verse, DAOs will be able to optimize their operations while unlocking new possibilities for decentralized governance.
Disclosure: At the time of writing this feature, the author owned ETH and several other cryptocurrencies.
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