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Karak has ‘good chance’ of becoming next EigenLayer after EIGEN airdrop disappointment

Karak has ‘good chance’ of becoming next EigenLayer after EIGEN airdrop disappointment

Emerging Ethereum restaking protocol Karak’s total value locked (TVL) rose over 25% in the past week to over $440 million, and industry experts believe it could start eating into EigenLayer’s market share.

Following the disappointment around the EigenLayer airdrop, Karak has a “good chance” of become the next big restaking protocol, according to Anndy Lian, intergovernmental blockchain expert and author of NFT: From Zero to Hero. He told Cointelegraph:

“Karak supports a broader range of assets for restaking, including Ether, liquid staking tokens, liquid restaking tokens, stablecoins, liquidity provider tokens and Wrapped Bitcoin. This diversity could attract a wider user base looking for more options beyond ETH.”

At the beginning of April, Karak closed a $48-million Series A funding round, giving it a valuation of over $1 billion, which means more upside potential. By comparison, EigenLayer has a $15.7-billion valuation, making it the largest restaking protocol on Ethereum.

Source: Karak

EigenLayer airdrop disappointment could lead to a drop in TVL

On April 29, EigenLayer released a white paper for its upcoming EIGEN token, which banned several jurisdictions from its upcoming airdrop, including the United States, Canada and several African and Asian countries.

The decision caused widespread criticism in the crypto community. Pseudonymous crypto trader Jay noted that it could be a significant opportunity for Karak in an April 29 X post:

“Think Eigen has handed Karak a golden opportunity.”

EigenLayer’s decision to ban airdrop participants from key crypto jurisdictions could lead to a fall in TVL as stakers look for more lucrative alternatives, according to Lian. He said:

“Farmers and stakers who were eagerly anticipating the EIGEN airdrop might now seek alternative platforms or protocols. Some may choose to reallocate their assets to other DeFi projects that offer more inclusive airdrop opportunities.”

According to crypto analyst and Crypto Banter podcast host Ran Neuner, EigenLayer is a venture capitalist (VC) scam aiming to attract liquidity from unsophisticated retail investors. He wrote in an April 30 X post:

“Early VCs get in early at small valuations — Retail will get in at $15bn+. Low circulation high [fully diluted valuation] at the start — let’s fleece more retail…”

Source: Ran Neuner

Neuner argued that the airdrop ban in key unbanked jurisdictions, along with the decision to keep airdropped EIGEN tokens locked until the team decides, are mainly in favor of early-stage VC investors:

“Any retail investor that buys this in the first 3 years will be punished.”

While Karak could become the next leading restaking protocol, multi-asset restaking could introduce more protocol risks compared to EigenLayer, according to Alon Muroch, CEO of SSV.Labs. Muroch told Cointelegraph:

“With more complexity comes more risk. EigenLayer has put its eggs in the Ethereum basket because Ethereum is the most secure and battle-tested proof-of-stake network and, therefore, a safer foundation for shared security.”

 

Source: https://cointelegraph.com/news/karak-good-chance-becoming-next-eigenlayer

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- “NFT: From Zero to Hero” and “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”.

www.anndy.com
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What is CC0 NFT? Are they any good? What are good?

What is CC0 NFT? Are they any good? What are good?

Melos Studio is launching their music NFT + CC0 month. CC0, also known as the Creative Commons, means “no rights reserved” on intellectual property. It’s a type of copyright that allows creators to waive legal interest in their work and take it into the public domain almost instantly.

They have invited the following guests to discuss it.

Yalu – Lin Melos Co-Founder
TP – X2Y2 Co-Founder
Daley – Community Lead of BSC Daily
Anndy Lian – KOL/ Best Selling NFT Book Author “NFT: From Zero to Hero”

A CC0 NFT can be owned by others. Anyone can use the NFT for commercial purposes without attributing it to the original artist or creator. In summary, CC0 NFTs can be seen as open-source IPs.

The sound of NFT on CC0 might sound like it is worthless, and everyone is copying everyone. But it may not be. If more people use the art, CC0 NFTs often become more valuable. If more people pay attention to it, it becomes more valuable. And CC0 incentivizes sharing the project’s art, creating derivatives or monetizing it. This is the point shared by Daley from BSC Daily.

However, Anndy Lian states two critical issues. NFT is still growing, and transforming from a 2D NFT to 3D for another batch of sales looks like a money grab. If the community generally accepts this, we will see more people selling new collections by adding some curly hair to the image. This changed the value totally. Anndy also cautioned that we need to trace back to the original CC0 image to ensure it is copyright-free.

The full discussion can be found at https://twitter.com/i/spaces/1ynJOagNbMlKR.

CC0- Are they any good? What are good? We just got to remind ourselves that NFTs are more than just owning a piece of art, or pure speculations; they are part of a community, where a culture has been created, and culture creates a following.

NFTs have opened a whole new set of opportunities for businesses and creators. You can read more about this topic in Anndy’s new book- NFT: From Zero to Hero at https://books.google.com.sg/books/about/NFT_From_Zero_to_Hero.html?id=OSqFEAAAQBAJ&source=kp_book_description&redir_esc=y

 

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- “NFT: From Zero to Hero” and “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”.

www.anndy.com
j j j

Why Competition Between NFT Marketplaces Is Good News

Why Competition Between NFT Marketplaces Is Good News

While crypto is in a bear market the one sector that has weathered the storm relatively well is NFTs. A new report estimates the global NFT market will be worth $231 billion by 2030, growing at a compounded growth rate of 33.7% over the next eight years. However, this quarter the NFT market has been on somewhat of a roller-coaster ride, though in terms of trading volume and sales compared to Q2 of 2021 they are up by 533% and 59% respectively. In addition, metaverse NFTs also had a good quarter, with the trading volume for ETH-based collections has increased by 101%, while Polygon collections have unfortunately declined by 26%. Overall, it has been a growth of 96%, according to DappRadar.

If that positive trend whets your appetite to get involved in NFTs trading, then you’re not alone. The recent crypto bull market was like an electromagnet for investors who flocked to NFTs. Either to try to get in early by getting whitelisted on a project and then sell once the particular project went live, or purchasing them from another user before selling them on one of the growing number of marketplaces. As reported in late 2021 by leading crypto analytics firm Chainalysis, “NFTs are far from a surefire investment” however: “Transaction data from the OpenSea marketplace shows that just 28.5% of NFTs purchased during minting and then sold on the platform result in a profit. Buying NFTs on the secondary market from other users and flipping them, however, leads to profit 65.1%of the time.” In plain English what this means is that your average NFT buyer is likely to be out of luck when it comes to turning a profit on a newly minted or a secondary market NFT trade.

If those headline figures haven’t put you off, what can help you can see the wood for the trees when it comes to trading NFTs? A little context might help for starters; namely the commercial pressure from the bear market and the competition between NFT marketplaces mean this could be a good time to up your NFT trading game.

NFTs are traded in NFT marketplaces, which are well-organized platforms for selling digital collectibles. As a rule of thumb NFTs are sold at a fixed price, while others are auctioned off. Opensea is by far the largest NFT marketplace, with a 90% market share by dollar trading volume across multiple marketplaces in 2021. But what’s changed in the last few months is that OpenSea’s market share has started to diminish. In response OpenSea has improved its service with the launch of Seaport, an open-source trading protocol which enables trading multiple NFTs at a time. And with OpenSea’s purchase of NFT market aggregator Gem, its likely they will go up against Uniswap, which recently acquired NFT aggregator platform Genie. Finally, despite the failure of Coinbase’s NFT offering, eBay has both purchased marketplace KnownOrigin and in partnership with OneOf, recently announced its first foray into the NFT space with the launch of a series of sports themed, featuring iconic athletes.

What hasn’t changed is the fact that most NFTs are released in collections. A collection is a group of NFTs that are all different but share some characteristics. Bored Ape, the most popular NFT collection, has a total sales value of approximately $2.5 billion. While the top ten NFT collections had over $15 billion in trading value in 2021, accounting for roughly 60% of the total NFT market. The fact that a few collections dominated a large portion of the market is most likely due to NFT investors’ preference to trade within collections. They do this because it is easier to value an NFT in a collection when there are “similar” NFTs to compare it to. Experienced investors know where the money is, therefore, they trade NFTs within those collections.

These NFT traders speculate and identify a specific collection with liquidity, trade, and keep flipping until they make a profit. The truth is that most speculative traders do not profit from trading NFTs. Information is key, and traders who have information on the collection with liquidity are more likely to make a profit. Instant tradability of non-fungible tokens will lead to higher liquidity. NFT marketplaces can cater to a variety of audiences—from hardcore traders to more novice players—allowing for greater exposure of the assets to a wider pool of buyers. In the same way that the ICO boom of 2017 gave birth to a new asset class driven by instantly liquid tokens, NFTs expand the market for unique digital assets.

Another factor we must consider is fraud in the NFT sector. We’ve seen a lot of bad actors sell and trade NFTs they don’t own or have access to. I believe that it is critical for every NFT trader to conduct their own research to determine the best collection to trade. In simple terms the NFT sector is still growing, and there are still certain gaps to fill.

Market liquidity is still concentrated in a few NFT collections, and a trader must be able to identify those collections where the demand is to make a profit. I am also about to publish an in-depth guide to NFTs in a new book, said I believe the NFT market was only going to get stronger in 2022. “The growth of NFTs on rival platforms to Ethereum such as Solana , and the competition with OpenSea from players ranging from DEX leader Uniswap to e-commerce king eBay, shows how dynamic this sector is. Despite the collapse of the wider crypto market with the Luna Terra collapse, the demand for NFTs shows no stopping. I was struck also by how GameStop’s new marketplace launched just a couple of days ago is already doing well, with ETH in trading volume too.”

 

Original Source: https://www.benzinga.com/22/08/28375889/why-competition-between-nft-marketplaces-is-good-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- “NFT: From Zero to Hero” and “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”.

www.anndy.com
j j j