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Additional $64,260 is Donated to Charity by the Next Earth NFT Project

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Next Earth, one of the most recent new NFT initiatives, was founded with a dual goal in mind: to produce the first blockchain-based duplicate of our globe while also contributing to the environment.

Next Earth has made significant progress on both fronts, having raised more than $1.3 million in the world’s first Initial Tile Offering, with over $130,000 going to The Ocean Cleanup and Amazon Watch. A simple Discord-based poll was used for the inaugural donation, in which community members voted on the allocation of funds to each charity.

Now, with their charity DAO, or Decentralized Autonomous Organization, Next Earth has taken it to the next level.

What is the Name of the Next Earth DAO?

The Next Earth DAO was recently utilized to allocate new cash to four charities: The Ocean Cleanup, SEE Turtles, Kiss the Ground, and Amazon Watch, among others. In addition, next Earth sold $640,260 worth of virtual real estate in September, with 10% of the proceeds set aside for philanthropic donations. Virtual landowners selected how that 10% would be shared up with the Next Earth DAO.

These landowners determined that The Ocean Cleanup would get the most money, with 86 BNB, followed by SEE Turtles with 24.57 BNB, Amazon Watch with 18.25 BNB, and Kiss the Ground with the remaining 17.55 BNB.

Next Earth can alter the concept of donation because of this DAO-based approach. This is a genuinely democratic method in which community people dictate how the project’s funding should be allocated. This is not a conventional governance system in which corporate organizations such as banks or large tech firms make the decisions. Instead, this is an open community with equal voting rights for all members.

Why DAOs Are the Future of Charity

In terms of form and usage of blockchain technology, the Next Earth DAO is revolutionary. This is the first time a DAO has been utilized to allocate monies generated from an ongoing metaverse tile offering. Furthermore, it is rethinking the concept of a metaverse since it understands that the physical and digital worlds are intricately linked and that we must act as stewards of the Earth.

The use of DAOs to decide how to allocate funds is not merely a theoretical exercise. Instead, it’s a valuable tool with real-world implications, improving the health of our planet through philanthropic donations.

As blockchains gain popularity and usability, it becomes evident that they may be used for much more than just cryptocurrency. They are collaboration, development, governance, and transparency platforms.

Next Earth is setting a paradigm for other blockchain projects to follow when they begin their token sales or fundraisings later this year and beyond by employing DAOs to select how their virtual real estate funds should be managed.

How Can You Participate?

Decentralization is the way of the future for charity contributions.

Decentralized applications, or dapps, are increasingly being used by individuals worldwide to help them with everything from sending money to friends and relatives to purchasing plane tickets. The Next Earth DAO is an excellent illustration of how we can make a charitable donation as simple as participating in a crypto project.

The more projects like Next Earth that follow this approach, the better it will be for individuals who need help from others, whether in the form of financial support or simply raising awareness about a worthwhile cause. They’ll also help us get closer to our vision of a genuinely global community by doing so.

NFT

Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

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A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

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NFT

Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

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The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

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The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.

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The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

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