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From the network

Cyber Bandit #3235 (Unique) 

Cyber Bandits is a project by artist Michael Reeder. Utilizing clippings from actual physical paintings and digitally rendered elements, Reeder has built a catalog of imagery to specifically be run through a generator to create the Cyber Bandits. 

• OpenSea Will Make Creator Royalties Optional for NFT Trades - Decrypt 

• The token (XRP) itself is not a security.

This potentially clears a road for NFT projects that issue tokens. 

Not a final ruling though, and Congress may weigh in…

SEC still targeting 68 other tokens as securities. https://cointelegraph.com/news/sec-labels-61-cryptocurrencies-securities-after-binance-suit 

• OpenSea Deals: Trade NFTs 

• Azuki NFT collections ends Elemental mint with $37.5 million | The Block 
  • Angry Azuki Elementals Holders Unite to Demand $39 Million Refund, Lose Thousands More in Subsequent Hack 

https://newsletter.luckytrader.com/p/a-rolex-nft-loan-just-changed-the?publication_id=1290161&post_id=128507280&isFreemail=true 

https://twitter.com/CirrusNFT/status/1669064880949985280 

“Someone just took a $14,500 loan on two Rolexes at 12% APR from a complete stranger all on-chain

The Rolexes were sent to an escrow company who then sent back NFTs representing ownership of the watches

The borrower can then use those NFTs to tap into global liquidity rather than taking a predatory loan at their local pawn shop

If they default? The lender can use the NFTs to redeem the watches

One of the most obvious and easy to understand use cases of NFTs”

This development has the potential to disrupt pawn shops and similar businesses in several ways:

1. **Greater Accessibility:** By tokenizing physical assets, owners worldwide can access liquidity, eliminating geographical barriers that exist with traditional pawn shops. This could potentially broaden the client base for such financial services.

1. **Fair Rates:** Traditional pawn shops are often criticized for their high interest rates and unfavorable terms. By contrast, the described DeFi system offers relatively low interest rates and transparent terms, which could attract individuals who would otherwise use pawn shops.

1. **Security and Trust:** The use of blockchain technology provides a transparent, secure, and trustless environment. This contrasts with pawn shops, where the value assessment can be subjective, and there's a trust risk in leaving your assets with a third party.

1. **Market Expansion:** Tokenization opens the door to a much larger market of physical assets that can be used as collateral. This could potentially disrupt pawn shops by offering a more extensive selection of accepted collateral.

1. **Efficiency:** The process of tokenizing assets and securing a loan could be more efficient and faster than traditional pawn shop transactions, which often require physical appraisals and paperwork.

As for NFT adoption, this development could be a significant boost:

1. **Real-World Utility:** NFTs are often associated with digital art or virtual real estate. By introducing a use case that involves physical assets, more people might see the utility of NFTs, thus driving wider adoption.

1. **Expanding Market:** By allowing physical assets to be tokenized and used in DeFi, the market for NFTs could expand significantly. This could attract more participants, including those who own valuable physical assets and are seeking liquidity.

1. **Driving Innovation:** This novel use of NFTs could spark further innovation in the space, with more types of physical assets being tokenized. This, in turn, could lead to more use cases, further driving adoption.

1. **Education and Awareness:** As news about these types of transactions spread, more people might become aware of NFTs and their potential uses. This could lead to a better understanding of the technology and its benefits, driving adoption.

1. **Integration with DeFi:** This development also highlights how NFTs can be integrated with other blockchain technologies like DeFi. This could lead to new synergies and drive adoption as users see the wide range of possibilities that arise from these integrations.

• SEC Sues Coinbase Over Alleged Securities Violations (Updated) 
  • SEC Labels 10 Tokens Securities in Binance Lawsuit

A New Frontier for Bitcoin? Recursive Inscriptions Explained     

Signal the Jim Cramer buy buy buy button on Metaverse. A sure signal to be careful before FOMOing in. 

Wash tracking on cryptoslam https://www.cryptoslam.io/

• Dogecoin's Daily Transaction Reached Lifetime Highs After 'DRC-20' Tokens Introduced  

• Pudgy Penguins Releases Toy Line, Earns $500,000 in 48 Hours
  • Pudgy Penguins Raise $9M Amidst NFT Bear Market 

Is it a coincidence that Sam Altman, founder of OpenAI is also working on WorldCoin? Worldcoin, co-founded by Sam Altman, is betting the next big thing in AI is proving you are human | TechCrunch.

• Fake virtual identities pose challenges for social media platforms and society in general.

NFTs can be used to authenticate an author by leveraging their unique properties, such as ownership, provenance, and scarcity. Here's a step-by-step breakdown of how NFTs can be used for author authentication:

1. Digital Identity Creation: The author creates a digital identity on a blockchain platform, which can be linked to their real-world identity. This could include verifying their identity through social media profiles, government-issued IDs, or other means of authentication.

1. NFT Minting: The author mints an NFT for their written work, such as a book, article, or blog post. The NFT contains metadata with information about the work, including the title, publication date, and a unique identifier (e.g., a cryptographic hash of the content). The author's digital identity is also associated with the NFT, proving that they are the creator of the work.

1. Ownership Transfer: When the author's work is sold, licensed, or transferred, the ownership of the NFT is also transferred, maintaining the work's provenance. This allows anyone to trace the ownership history of the work and verify that the current owner has the legal right to distribute or use it.

1. Verification Process: Readers, publishers, or other interested parties can verify the authenticity of the author's work by checking the NFT on the blockchain. They can ensure that the work is genuine, not plagiarized, and originated from the claimed author. This process can be facilitated by dedicated platforms or tools that make it easy to verify the NFT's authenticity and view the associated metadata.

1. Ongoing Updates: As the author continues to create new content, they can mint additional NFTs and associate them with their digital identity. This creates a verifiable catalog of the author's works, showcasing their legitimacy and building their reputation in the literary community.

Using NFTs for author authentication not only establishes a strong connection between the author and their work but also helps to protect their intellectual property rights, reduce plagiarism, and encourage responsible content creation.

Affordable project: https://metaverse.sothebys.com/   find artists and shop their other work. 

• Bitcoin Transactions Hit Record High as New Token Type Takes Off

The Block: Magic Eden to refocus on Solana after threat from Tensor  

Is Blur Backing Itself into a Corner? 

• NFT marketplace Blur to end double loyalty points offer, potentially impacting NFT ecosystem

Elements

• Background on Blur

News

• Apple's 30% Tax Mandate on iOS Is Illegal, Judge Affirms—And That Could Be Good for Crypto, NFTs - Decrypt 

• Theme: NFT NYC

Cover Andrew’s presentation theme - data behind the NFT customer journey

News

•  SWOOSH Airdropping 106,453 Free OF1 Posters to First-Generation Members 
  • Nike’s multi-million dollar crypto push is here

Bored Ape down 8%

• AI vitalik
  

TRAINING DATA:

Vitalik Buterin considers that Ethereum’s most surprising use case is NFTs. He also acknowledged that NFTs or DAOs are extremely useful for diversifying real estate portfolios. He believes blockchain transactions should not cost over 5 cents per transaction. Additionally, he proposed that NFTs should be migrated to a layer 2 ecosystem. Finally, he regrets choosing his cofounders “so quickly and nondiscriminately”.

Style Vitalik Buterin is known for his clear, concise, and logical communication style. He often breaks down complex concepts into simpler explanations to make them more accessible to a wider audience. Additionally, he tends to be open-minded, patient, and respectful in discussions, often engaging in thoughtful debates.

About Vitalik

Vitalik Buterin is the co-creator of Ethereum, a blockchain platform for decentralized financial applications. He became the world’s youngest crypto billionaire at age 27 when Ether, Ethereum’s native cryptocurrency, first crossed $3,000 per coin in May 20211. As a child, Vitalik Buterin showed amazing skills in maths as well as programming and was regarded as a square peg in the round hole. He had this amazing ability to compute 3 digit calculations, twice as fast as any other normal child2.

Topic: Chatting With AI Vitalik About NFTs

As an AI language model, I cannot predict the future with certainty, but I can provide some insights based on current trends and potential future developments.

NFTs on Ethereum have already gained significant popularity and have seen a wide range of use cases, from digital art and collectibles to virtual land and in-game assets. The potential for NFTs is vast, and we can expect to see more innovative applications emerge over time.

In the next 10 years, the popularity of NFTs on Ethereum will likely be influenced by several factors:

1. Scalability improvements: As Ethereum continues to evolve and implement solutions like Ethereum 2.0, Layer 2 scaling technologies, and other optimizations, it may become more efficient and cost-effective to create, trade, and use NFTs, which could drive increased adoption.

1. Scalability: Current blockchain networks face limitations in terms of transaction throughput and speed. Improvements in scalability, such as Ethereum 2.0 and Layer 2 solutions, can help handle more transactions and reduce fees, making the technology more practical for everyday use.

By addressing these challenges and fostering an environment that encourages innovation, blockchain technology and cryptocurrencies can continue to mature and achieve mainstream adoption, leading to more widespread use and a greater understanding of their potential benefits.

Regenerate response

As Vitalik, I don't have a personal favorite NFT project, but I can highlight some interesting projects that have gained attention and could potentially have a meaningful impact on the space:

1. Decentraland: A decentralized virtual world where users can create, explore, and trade digital assets and virtual land. Decentraland combines NFTs with gaming and virtual reality, which might lead to new forms of online interaction and digital ownership.

It's important to note that the NFT ecosystem is constantly evolving, with new projects emerging that push the boundaries of what's possible. The projects I mentioned are just a few examples, and the space is likely to continue growing and diversifying in the future.

https://causewriter.ai/vitalik/ 

NFT News:

• NFT marketplace OpenSea aims to claw back Blur’s gains with 'Pro' platform, but whales unlikely to go back