Are NFTs and celebrities a match made in heaven?

Are NFTs and celebrities a match made in heaven?

It’s important to honour the relationship between fans and celebrities if NFTs are going to make a real contribution to both.

Celebrities, from Hollywood actors to top musicians are embracing NFTs right now as the next big thing to connect with fans and take back control from industry moguls.

Grabbing the attention of social media recently on US TV ‘Tonight Show’ clip of Paris Hilton and Jimmy Fallon discussing their Bored Ape Yacht Club NFTs, joining other celebs including Reese Witherspoon to musician Eminem who’ve taken a shine to NFTs.

Certainly, NFTs seem to be gaining traction and possibly altering the music industry. After famous rapper Snoop Dogg recently bought Death Row Records to turn it into an NFT label, the musician underlined this point about their disruptive power, “If anything is constant, it’s that the music industry will always be changing. Blockchain tech has the power to change everything again and tip the table in favour of the artists and the fans.”

But there’s also controversy about how aspects of the current boom in NFT sales from leading figures within the crypto community. Last week in Time magazine Ethereum founder Vitalik Buterin focused his wrath on the Bored Ape Yacht Club NFTs. Rather than his vision of Ethereum as the launchpad for everything from a fairer voting system to urban planning, he’s worried it’s become a plaything of the celeb obsessed world.

“The peril is you have these US$3 million monkeys, and it becomes a different kind of gambling,” he told Time. “One silver lining of the situation in the last three weeks is that it has reminded a lot of people in the crypto space that ultimately the goal of crypto is not to play games with million-dollar pictures of monkeys, it’s to do things that accomplish meaningful effects in the real world,” Buterin added.

From a creative perspective, what do NFTs bring to the world of artists and fans, that’s about establishing a real connection, that does deliver those “meaningful effects”?

The growth of NFTs

The news in late 2021 that Coinbase is entering the NFT market added further momentum, coupled with FTX launching a Solana-based NFT marketplace.

While the current dominant NFT marketplace OpenSea has seen up to 80,000 transactions a day its browser-based wallet is not super easy to use at times, and there have been security issues that have put people off.

That said in August 2021, OpenSea exceeded US$1 billion in gross market volume year-to-date for the first time. By late 2021, it had grown so much that it processed US$3.2 billion in volume in the month of December alone.

In 2022 competition for the NFT market hotted up when LooksRare launched, offering their minted platform tokens, $LOOKS, as airdrops to OpenSea users based on their spending on the platform.

Certainly, the Coinbase emphasis on usability, from initial minting to the discovery of new and exciting NFTs, is a sign of the growing accessibility of the NFT market.

And following Twitter’s rollout of profile NFTs, TikTok launched its first creator-led NFT collection, TikTok Top Moments, further underlining the power of the NFT market and the role of celebs including the likes of Lil Nas X through to Gary Vaynerchuk.

In another sign of the demand world’s most famous sports brand, Nike applied for a series of NFT trademark applications in November and followed it up with a collaboration with Roblox to create Nikeland, an online world, and the acquisition of virtual sneaker company RTFKT.

How are NFTs transforming the music industry in 2022?

Due to the growing popularity of NFTs, the emergence of decentralised streaming services such as Audius is gaining traction. Several musicians, including Deadmau5, Weezer, Linkin Park’s Mike Shinoda, and 3LAU have chosen to collaborate and contribute to the Audius music platform.

The growing number of musical artists who have joined the platforms shows the potential of NFTs in the music industry. 3LAU, an electronic music producer, issued the world’s first tokenized record album, raking in more than US$3.6 million, which was a collection of NFTs representing his best-selling album, with just 33 made.

In addition, Shakira recently collaborated with BossLogic to release her own NFT. This shows that NFTs in the music industry go way beyond music, which signifies where the music industry is headed.

Shortly after acquiring the Death Row record label, famous rapper Snoop Dogg released his latest album Bacc on Death Row (BODR) as a stash box of NFTs. Each of the 25,000 stash boxes costs US$5000. Each stash box includes 17 NFTs, one for each track on the album; collecting all 17 NFTs would entitle fans to benefits from the Rapper, like the opportunity to party at Snoop’s LA mansion.

In a recent interview, the rapper said, “Death Row will be an NFT label, we will be putting out artists through the metaverse […] Just like when we broke the industry when we were the first independent [record label] to be major, I want to be the first major in the metaverse.”

As more celebrities and artists resort to NFTs, digital collectibles are becoming a significant money source for musicians, particularly as the world recovers from a global pandemic.

To tackle the subject in more depth BigONE talked with Australia-based Dalton Grant, head of staff at Animal Concerts, which specializes in metaverse-based concerts, designing and minting NFTs, and working with artists recently including Busta Rhymes, Alicia Keys and Snoop Dogg.

Grant said that previously artists ended up with a small slice of the sales revenue, with the majority going to their record label.

With NFTs the biggest difference is that artists can not only create their own music but also release it directly to fans, bypassing major record labels, he said, “For the fans, this allows them direct contact with actual artists, which gives them a unique piece of their favourite artists, which creates a unique connection with the actual artist. For artists using a metaverse platform they can have an audience of two or three million, with artists from both Japan and New York.”

The last concert for Alicia Keys in Miami was also recorded in 3D to allow streaming in the metaverse, Grant added.

What are the risks for artists and fans?

The ever threat of scams and market manipulation has been with crypto from the start so it’s worth considering how this may impact the relationship between artists and fans, as NFTs are increasingly part of the relationship, the emotional bonding process if you like!

The subject got a pretty got going over on The Atlantic article from Amanda Mull ‘Celebrities and NFTs Are a Match Made in Hell’ which looked at the downside to celebrity endorsement. “Whether the technology itself will have more useful applications in the future is presently unclear. This is all speculative for now, in several senses of the word.”

While CoinDesk described the recent flutter of celebrity NFT activity and its questionable motivations as “perverse deal-making.”

Grant agreed it is important for celebrities, from Hollywood celebrities to sports stars, to take care to honour their fans, not merely pocket the money from NFT projects, “I heard about a story the other day of a footballer who ran off with fan’s money without delivering anything, and to be frank I think that’s really disgusting. If everyone is to benefit, and you do the right thing, and that community is supported by supporting you, then having integrity is very important and it is important to create something that lasts.”

Certainly, the recent headline that porn star Lana Rhoades has made off with US$1.5 million in an apparent NFT scam, after complaining about her “negative and rude” community is the mirror opposite of the kind of integrity required to sustain a viable NFT marketplace.

Another worry has been the recent US$320 monster hack of Wormhole, the bridge between Ethereum and Solana, which allows for cheaper minting of NFTs than using Ethereum directly. There’s also been controversy over the legal battle involving CryptoPunks, sparked by an issue with the original version of the code.

Clearly, with such innovative technology, there are going to be some mistakes made along the way so it’s good to hear of solutions helping creatives make good use of NFTs. One neat solution to the threat posed by bridging hacks to NFT transactions was unveiled last month by Ethereum-based platform Harmony, with a Bored Ape Yacht Club Passport.

The advantage of their bridge solution is that it does not move assets, instead, it confirms the asset ownership, and it enables artists and creators, put off from participating due to high gas fees to mint and collect NFTs as a result.

An exciting future for NFTs

When you think about it, it makes sense that NFTs will disrupt the existing trajectory of the music industry through personalisation and deeper connections. Joining the expert discussion Ben Appleby, founder of The Cake, said he looked back to the musician Prince, who changed his name to get closer to his fans and to distance himself from the record company.

“Now with financial freedom and blockchain and Bitcoin that removes those middlemen allowed financial freedom to do things with money that they hadn’t been able to do before because of these third-party counterparties. The artists are free to connect with audiences. They can sell and auction their own art in their own way. They don’t have to compromise on what they’re doing and the messages that are out there.”

BigONE Chairman, Anndy Lian said, “It’s important to honour the relationship between fans and celebrities if NFTs are going to make a real contribution to both. What I think we’ll increasingly see is the use of NFTs to build closer relationships between top fans and celebrities.”

Lian added, “Celebrities must choose the right channels to distribute their NFT IPs. For example, I think Mike Tyson’s NFT launch on Binance NFT Marketplace is a good choice. Redbull’s F1 Team signed with Bybit NFT Marketplace is also a good choice. This technology allows this kind of engagement to happen both at scale, across global communities, and at a very individual granular level, which I believe is exciting. We are just getting warmed up.”

 

 

Original Source: https://e27.co/are-nfts-and-celebrities-a-match-made-in-heaven-20220421/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Anndy Lian’s comments on fighting scams quoted on Decrypt.co “Hackers Impersonate Crypto Exchange Gemini on YouTube”

Anndy Lian’s comments on fighting scams quoted on Decrypt.co “Hackers Impersonate Crypto Exchange Gemini on YouTube”

Youtube related scam advertised videos continue to flourish on Youtube. Decrypt media publish an article yesterday on hackers impersonating Gemini Crypto Exchange on Youtube. Anndy Lian was also being quoted in the article.

Anndy’s commented in October openly on Twitter urging Youtube to get rid of misleading video that offers an extraordinary return in their investments.

“Come on @YouTube, please get rid of this fake LIVE videos, 105,000 watching, 2800 likes. I am sure @tylerwinklevoss @cameron @Gemini are not and will not run such schemes. #Crypto has a good future, let’s protect it.”

He has also cautioned all that we should be alert and not fall for the scams that are published.

“Always remember, if it is too good to be true, it is most likely not real. If you need to deposit into some strange address first and they promise 5 times more, it is most likely a scam. Do not fall for such traps.”

 

Such scam-like videos have been floating around for a while. Many of us have seen similar videos with Binance or Ethereum on them. These are all fake. And in July (reported by BBC), Apple co-founder Steve Wozniak sued YouTube for allegedly allowing scammers to use images and videos of him to defraud people.

“Crypto giveaway scams must be stopped. If Youtube cannot cope with this, we should try our best to inform and educate everyone about this. I do not want the general public to think that this is how the crypto space is like. Let’s fight the scams together.” Anndy Lian added.

For users who have encountered spam or scam videos or even comments on Youtube. Youtube staff review reported videos 24 hours a day, seven days a week. All is needed is to sign in to Youtube, there is a drop down menu below the player and click “Report”. For more information, you can follow the instruction on this link.

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Hackers Impersonate Crypto Exchange Gemini on YouTube

FCA-regulated crypto exchange Gemini exposed two fake YouTube channels on Twitter yesterday.

In brief

  • Crypto exchange Gemini has been impersonated by two YouTube accounts.
  • This kind of thing has been an issue in recent months.
  • Ripple CTO David Schwartz has also experienced problems with YouTube’s impersonation rules.
A hacker took over two YouTube accounts to appear as though they were associated with crypto exchange Gemini, according to a tweet from the company yesterday.

YouTube does not allow impersonations of people or channels on its platform, but impersonations remain an ongoing issue for the social media giant. On this occasion, the hackers rebranded the relevant YouTube accounts with Gemini’s brand name, as well as the crypto exchange’s logo. And Gemini wasn’t too happy.

“These scam accounts are not our company. We have reported these accounts to YouTube,” said Gemini’s official Twitter account yesterday.

What’s more, this is a problem that has appeared to persist for Gemini in recent months.

In October of this year, Twitter user Anndy Lian publicly asked YouTube to bring down fake videos that pretended to be associated with Gemini, as well as the crypto exchange’s co-founders and brothers, Tyler and Cameron Winklevoss.

“Come on YouTube, please get rid of this (sic) fake LIVE videos, 105,000 watching, 2800 likes. I am sure Tyler Winklevoss, Cameron Winklevoss, Gemini are not and will not run such schemes,” Lian said.

In July, Gemini itself addressed yet another scam alert, admitting it had been “getting DMs about fake Gemini profiles on various social media platforms.”

Gemini is not alone in running into problems on Youtube. Ripple CTO David Schwartz was banned in April for impersonating…himself. Looks like YouTube just can’t quite hit its mark.

Original Source: https://decrypt.co/50736/hackers-impersonate-crypto-exchange-gemini-on-youtube

Author: Scott Chipolina

This article is also in Russian and Turkish and is searchable on Google News.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Anndy Lian Speaks to Bobby Ong, co-founder of CoinGecko on Blockchain, Cryptocurrencies, DeFi & beyond

Anndy Lian Speaks to Bobby Ong, co-founder of CoinGecko on Blockchain, Cryptocurrencies, DeFi & beyond

Blockcast.cc: Dear Bobby, this is Anndy Lian, I am a governmental blockchain advisor, book author and most recent Board Member of Hyundai DAC. We have in fact met very briefly in Malaysia during one of your meet-up. Good to hear from you again, can you give an introduction of yourself?

Bobby: Sure! I’m the co-founder of CoinGecko, an analytics platform for tracking cryptocurrencies and blockchain assets. CoinGecko was established in April 2014 and is the largest cryptocurrency data aggregator in the world.

CoinGecko provides comprehensive information derived from thousands of data points such as price, trading volume, market capitalization, developer strength, community statistics, and more. We currently track over 7,000 tokens from more than 400 exchanges.

Blockcast.cc: Tell us how you started CoinGecko?

Bobby: I met my co-founder, TM Lee in 2013. We were both interested in Bitcoin and were trading some alternative cryptocurrencies. We wanted some additional data such as community and developer data that was not available anywhere else. We decided to track these data on a website and make these data available for other people as well. This was how CoinGecko got started.

 

Blockcast.cc: What is your vision and mission for CoinGecko? What do you aim to
achieve in the long run?

Bobby: Our mission is to empower the cryptocurrency community with a 360-degree overview of the crypto market. We believe that in the future, anything of value that can be tokenized will be tokenized. We are building the infrastructure needed to track this decentralized future where we will have millions of tokens trading in the world and we aim to help traders get the relevant information for these tokens.

 

Blockcast.cc: I have openly commented on how the metrics do not work well in today’s context where many of the projects/ exchanges washed their trades. How do you see this? How can this be improved?

Bobby: Yes, we used to sort exchanges by trading volume. However, by early-2019, we started noticing that many exchanges were conducting wash trading and faking their trading volume numbers to appear larger and more liquid than what they actually are. We were not happy that the results for exchanges were no longer accurate and felt a deep responsibility to our users not to divert them to these small exchanges faking their volume.

Thus in May 2019, we introduced an algorithm to rank exchanges called Trust Score. This algorithm looks at multiple metrics for exchanges such as bid/ask spread, orderbook depth, web traffic estimate, exchange API quality, AML/KYC compliance and cybersecurity practices to give a holistic overview of each exchange’s quality. Exchanges are graded on a 1-10 scale and many of the exchanges conducting wash trading were no longer ranked at the top on CoinGecko.

 

Blockcast.cc: How is your ranking metrics compared to other similar platforms?

Bobby: We were the first crypto data aggregator to move away from ranking exchanges using trading volume. We saw how this metric had been manipulated by many non-regulated exchanges and introduced Trust Score to look at other liquidity based metrics.

Our metrics take into account several factors mentioned above such that it is holistic and robust. It does not use anyone single factor that can be easily manipulated by exchanges. We are also constantly looking to improve Trust Score and have done a few improvements since our launch.

 

Blockcast.cc: Will there be a chance that CoinGecko will transform into a wallet or an exchange? If no, will the group most likely to invest indirectly into the ecosystem?

Bobby: We view wallets and exchanges as our partners and have no plans to offer either of the above services for the time being.

If there are interesting opportunities to invest, we may consider it on a personal capacity as CoinGecko does not currently invest in any companies directly.

 

Blockcast.cc: What is your personal opinion of the blockchain and crypto industry? What is the future like?

Bobby: We view the blockchain and crypto industry as a multi-decade growth industry similar to how the Internet industry was in the early-1990s. There are tremendous opportunities offered in this space. It is still very hard for the average person to use crypto apps and as these apps get easier, faster, cheaper to use, it is expected that the mainstream audience will start using them and fuel growth in the years to come.

Blockchain and crypto industry offers permissionless innovation and there will be many interesting protocols and applications launched in the future. We view a future where there will be millions of tokens and we are building the foundation needed to support this future.

 

Blockcast.cc: How do you see Bitcoin, do you think Bitcoin will go to a value of $100,000 per coin like some said?

Bobby: Yes, I don’t see why Bitcoin will not go to $100,000 in the next few bull runs. Can’t tell when but eventually in the future. Bitcoin’s price is highly speculative by nature.

 

Blockcast.cc: Apart from Bitcoin, can you name 5 more coins that you see huge potential?

Bobby: I am particularly interested in seeing how Ethereum will perform as most of the innovations are coming on top of the Ethereum platform such as Decentralized Finance.
I am also interested to see how exchange tokens such as Binance Coin perform. Will it evolve from a fee-burn model or convert into some sort of governance model in the future.
I am also paying some attention to governance tokens such as Maker, Kyber and Compound. These governance token models will probably be something that will be adopted by many token teams in the future.

 

Blockcast.cc: Please share an inspiring quote for our readers.

Bobby: I like this quote by Tony Fernandes, CEO of AirAsia:

“Believe the unbelievable, dream the impossible and never take no for an answer.”

 

Blockcast.cc: Tan Sri Dr. Fernades is indeed an inspiring legend in the South East Asia Market. I have the honour to meet him in Singapore over dinner many years ago. He is an industry changer. Thanks for your time Bobby. Your insights are great. Keep up the good work for the crypto industry. 

 

 

 

Original Source: https://blockcast.cc/interviews/blockcast-cc-in-conversation-with-bobby-ong-co-founder-of-coingecko-believe-the-unbelievable-dream-the-impossible-and-never-take-no-for-an-answer/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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