Author: Ben Carey

Ben Carey is a Brisbane-based writer, with a wide range of experience, from copywriting to game design and film and tv scriptwriting. He's been following, investing, and trading crypto since 2017. He has three lambos (in Gran Turismo), and can often be seen around town wearing a Bitcoin or Ethereum themed Christmas sweater.

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Blockchain Crypto News

Legendary Hollywood Family Decentralises Movie Financing

Roman Coppola, a member of one of Hollywood’s most important and influential families, has co-founded a decentralised film financing platform based on blockchain technology.

Roman and his illustrious sisters, Gia and Sofia, who are on the company board, aim to use the blockchain-powered platform to decentralise the film financing process, which they hope will lead to the discovery and support of many underrepresented filmmakers.

Roman Coppola at Cannes Film Festival 2021

How Will the Platform Work?

In many ways the platform is similar to other crowdfunding websites like Kickstarter and Indiegogo, however Decentralized Pictures (DCP) has the advantage of being purpose-built for discovering and creating film projects, offering not just finance but development support and guidance.

DCP is built to democratise film financing and development. Anyone can upload their project proposal – anyone can vote. Our platform community decides which projects are the most deserving of financing, support, and/or white glove mentoring throughout the life cycle of the film. Runners-up are rewarded with studio and agency introductions. The ethos of this decision-making process is to democratise support for the arts in a collaborative fashion.

Decentralized Pictures media article

At the heart of the platform will be DCP’s own cryptocurrency token. Creators will pay a submission fee using this token, which, through the use of smart contracts, will be used to pay other members of the community for giving feedback on projects. Initially, Decentralized Pictures will select the winners of each round from the projects that receive the most votes, but eventually this selection process will be made entirely by the community.

The blockchain-powered web platform is currently in beta testing through the USC School of Cinematic Arts and the Ghetto Film School. DCP is hoping to make the platform available to everyone by the end of the year.

Learn more by watching the Fireside Chat with Roman Coppola and Leo Matchett.

Exciting Implications for All Artists

The idea of a platform that democratises financing and development could have huge, exciting implications for all artists. The current systems in place for most artistic industries are hugely centralised.

The majority of all art and entertainment comes from movie studios, game studios, television stations, publishing houses and record labels. The content produced is largely based on what these companies believe will generate the most profit.

Many novelists, filmmakers, game designers and musicians could benefit from this new type of platform that gives the power back to the people to decide for themselves what they want to see, play, read and listen to.

Zero Contact NFT blockbuster starring Anthony Hopkins

The entertainment industry, especially Hollywood, is definitely taking notice of crypto, with several studios setting up their own NFT platforms and the upcoming release of the first NFT blockbuster, Zero Contact, starring Oscar winner Anthony Hopkins.

The Ethereum documentary, Ethereum: The Infinite Garden, recently raised $US 2.3 million in ETH through crowdfunding and NFTs.

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Crypto News Surveys

76% Believe Crypto Will Replace Fiat Currency Within 10 Years, Survey Reveals

The 2021 Global Blockchain Survey, conducted by multinational accounting firm Deloitte, has revealed that 76 percent of people believe crypto will be a strong alternative to, or outright replace, fiat money within the next decade.

Deloitte surveyed more than 1,280 finance professionals from Brazil, China, Hong Kong, Japan, Singapore, South Africa, the United Arab Emirates, the UK and the US. The surveys were conducted between ​​March 24 and April 10 at the height of the recent surge in the crypto market.

Table from Deloitte report about the future of digital assets.

Mainstream Adoption

Fully 81% of finance professionals surveyed agreed that the technology is “broadly scalable and has achieved mainstream adoption”. This was certainly reflected in the Chainalysis report last week that highlighted a meteoric 880 percent rise in crypto adoption in the past year. According to yet another survey, conducted by Fidelity Digital Assets last month, 70 percent of institutional investors have plans to buy crypto in the near term.

Obstacles to Global Acceptance and Use

But it’s not all rainbows and lollipops. Many finance professionals also highlighted a number of major obstacles that need to be overcome before there is global acceptance and use of digital assets. For example, 71 percent had concerns about the cybersecurity of digital assets; 63 percent were worried about regulatory barriers; 62 percent raised concerns about financial infrastructure; and 59 percent were worried about the privacy of digital assets.

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Crypto Art Crypto News NFTs

Rammstein Lead Singer NFT and Dinner – A Cool €100,000

Till Lindemann, the lead singer of infamous German metal band Rammstein, has released a NFT collection that includes a music video priced at €100,000 (A$160,000).

The token is one of 10 and offers exclusive rights to an unreleased music video filmed at the Hermitage Museum in St Petersburg. Successful bidders will be “invited (+1) to a dinner with Till Lindemann in Moscow, including flights, accommodation, and a visa for the buyer and companion”.

Currently, the only other item in Lindemann’s NFT collection is a portrait of the singer priced at €200. This has already sold several times. It is expected that more items will be added in the future.

Is This Something Fans Actually Want?

There are undoubtedly a number of wealthy Lindemann acolytes out there who would love to have dinner with their idol. But how many Rammstein fans have upwards of €100,000 to blow on a music video and a meal with him in Moscow? None of the videos has sold yet, so we’ll have to wait and see. Some fans seem disappointed that Lindemann is branching out into NFTs, though.

Global NFT Mania Continues

Recently, German car manufacturer Audi became the latest brand to jump on the NFT bandwagon, releasing six NFT artworks inspired by the new Audi A8L 60 TFSIe. In China, a number of real estate NFTs were unveiled at last month’s Taobao Maker Festival. But the cream of the NFT crop has to be the person who bought a drawing of a plain grey rock for US$103,000 this week. It’s likely that NFTs will continue to boom for a while longer, but that’s one hell of a top signal.

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Crypto News NFTs Sports

German Bundesliga Set to Capture “Football Moments” as NFTs for Fans This Season

Bundesliga, the German professional football league, is set to release a series of NFT trading cards that will feature top players, rising stars and highlights from the current season.

Topps, one of the biggest names in the trading card business, announced on August 6 it would be releasing the Bundesliga 2020-2021 Season Celebration NFT Collection on its newly developed NFT platform, Topps NFTs.

Our vision is to create a fun, easy-to-use collecting experience on the blockchain that appeals to all fans whether they have experience with NFTs or not […] We can’t wait to introduce this new collecting experience to Bundesliga fans around the world.

Topps official statement

The Bundesliga 2020-2021 Season Celebration NFT Collection goes on sale from August 10.

Football NFTs Booming

Football and NFTs are like conjoined twins right now, with dozens of high-profile names in the football world itching to get a piece of the NFT pie. Lionel Messi is entering the game with an NFT collection called “The Messiverse“, due to be released later this month. Last month, Giorgio Chiellini, captain of Euro 2020 champions Italy, released his own NFT collection, “The Gladiator“.

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Crime Crypto News Monero

Former Chief Monero Maintainer “Fluffypony” Arrested

Riccardo Spagni, former lead maintainer for Monero (XMR), was arrested last month in the US and will soon be extradited to South Africa to face fraud charges linked to alleged offences in the RSA between 2009 and 2011.

Spagni, known online as “Fluffy Pony”, has been accused of stealing approximately US$100,000 from his former employer, Cape Cookies, by creating false invoices and redirecting payments to his personal bank accounts between 2009-2011.

If Spagni is convicted, he faces 20 years in prison.

Riccardo Spagni, aka “Fluffy Pony”. Source: Peter Saddington/Twitter

Fraud or Misunderstanding?

In the wake of his arrest, Spagni’s wife, Saskia, posted a message on her Twitter account on her husband’s behalf:

Despite the fact that Spagni’s arrest had nothing to do with his work on the Monero project, a member of the Monero core team issued a statement on Twitter:

Crypto Community Supports Fluffy

Spagni is a highly respected figure within the crypto community. He became interested in Bitcoin in 2011 and emerged as a prominent, entertaining and well-liked figure over ensuing years. This was largely down to his colourful personality and his involvement in various crypto projects, particularly Monero, where he worked as lead maintainer for five years from 2014 until 2019. Despite these recent charges, many in the community stand by him.

Some within the Monero community have suggested that the charges might have been fabricated due to anti-cryptocurrency sentiment that has been building within governments around the world. There is no evidence to support these claims, though on paper the specifics of the case and the timing of the allegations do seem quite strange.

Governments Wage War on Privacy Coins

Privacy coins like Monero have faced hard times in recent years, often the target of regulatory action from governments resistant to their citizens having access to anonymous transactions. Last month, an Australian couple was charged with operating one of the world’s largest illegal marketplaces, which accepted both bitcoin and Monero in exchange for illegal goods and services.

At the start of the year, Bittrex delisted Monero, ZCash and Dash, presumably because of regulatory pressure. Australian exchanges have also been feeling the heat, with exchanges like Swyftx forced to delist privacy coins as well. However, decentralised exchanges such as COMIT Network are hoping to get around this by offering atomic swaps instead of regular trading.

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Australia Blockchain Crypto News

Could Australia Use Blockchain for COVID Vaccine Passports?

Tech experts propose that the Australian government could use blockchain technology as the framework for securely storing and sharing vaccine passports.

There are plenty of examples of the medical industry utilising blockchain to safely store and share data, but so far most governments have been resistant to using the relatively new technology in this way.

However, it is not unprecedented. San Marino recently announced it would be using VeChain to issue NFT-based vaccine passports. Could Australia be headed the same way?

The Case for Blockchain

Blockchain could be an excellent choice for storing and distributing vaccine passports. Used together with an app, QR code, or linked to a smart chip in a physical passport, it would be simple to use, incorruptible and easy to standardise, and would require no manual data entry.

VetDB – a tech company that has used blockchain technology to help vets eliminate paperwork, centralise records and improve data accuracy – has already developed a blockchain-based passport for animal vaccines to fight the Hendra virus, alongside a prototype for a Covid-19 vaccine certificate that can be attached to smart chips in ID cards or passports.

Passport to Freedom or a Digitised Prison?

The vaccine passport debate has been raging globally all year, with compelling arguments on both sides. As the world becomes increasingly pandemic-fatigued, some countries are turning to vaccine passports as a potential way to return to normal and begin the long road to economic recovery.

However, many argue that freedom of movement is an essential human right and that governments do not have the right to spy on their citizens.

Indeed, vaccination passports do seem inherently at odds with the ethos of blockchain and crypto, which is freedom, decentralisation and, for many, privacy. For some, vaccine passports are a significant and symbolic battleground for freedom and liberty.

Vaccine passports are the gateway to a totalitarian, digitalised prison system from which it will be very difficult, if not impossible, to escape. Which is why if we’re ever going to stop this, it has to be now.

UK journalist Neil Clark

Blockchain Here to Stay

Regardless of which path Australia takes in relation to vaccine passports, one thing is certain: blockchain technology, crypto and NFTs are becoming increasingly commonplace in almost every industry, a sure sign of mass adoption.

Categories
Crypto News Ethereum NFTs

Crowd-Funded Ethereum Documentary Raises $2.3 Million in ETH

Documentary project Ethereum: The Infinite Garden has raised 1,036 ETH in just three days to complete its fundraising proposal to create the first feature-length documentary about Ethereum.

The original fundraising goal of 750 ETH (US$1.7 million) was surpassed in a matter of days, finishing up at 1,036 ETH ($US2.3 million). These funds will finance the documentary that will feature co-founder Vitalik Buterin and key members of the Ethereum Foundation and the wider community.

The Garden That Grows On Forever

In this film, we approach Ethereum as an “infinite garden”. Instead of thinking of Ethereum as a machine controlled by a central brain, we see it as a decentralised ecosystem with soil, plants and insects that need to be cared for in order to grow.

Ethereum: The Infinite Garden official website

Ethereum: The Infinite Garden will “explore the innovative real-world applications of the Ethereum blockchain, the die-hard community of enthusiasts and developers, and its creator, Vitalik Buterin, whose vision for the internet has the potential to change the world”, according to the project proposal.

The film will be directed by Chris Temple and Zach Ingrasci, creators of features for HBO, Netflix and National Geographic that have been screened at major international film festivals. Production will be managed by Optimist, a Los Angeles-based independent studio.

NFT Movie Posters with Film Credits Embedded

Funds were raised by allowing contributors to bid for their own animated movie posters alongside a number of other rewards, such as receiving credits in the film. The animated posters were created by well-known digital artist pplpleasr, who has created digital effects for movies such as Wonder Woman, Batman v Superman, and Star Trek Beyond. The top three contributors received one-off posters with unique colouring, lighting and exclusive producer titles embedded into the credits section.

Unique movie posters of the top three contributors. Source: Infinite Garden Twitter

Pre-Production Under Way

After the wildly successful fundraising campaign, the team is now entering the pre-production phase where it will establish connections with members of the Ethereum Foundation and the wider community. The team is aiming to have a rough cut of the film done by the northern summer of 2022, and all going to plan it will premiere in the winter of 2023.

No Lack of Vitalik

Buterin is everywhere at the moment, especially in the arts and entertainment industry. He will voice an old, taxidermied cat in Mila Kunis’s short animated series, Stoner Cats, which will be released to NFT holders. Also in the art world, a portrait known as the ‘Crypto Mona Lisa’, signed by Buterin, will be listed on Australian platform NFT STARS on July 30.

Categories
Crypto News Ethereum NFTs

Vitalik Buterin and Chris Rock to Star in ‘Stoner Cats’ NFT Series

Vitalik Buterin, the co-founder of Ethereum, will star in an animated comedy series called Stoner Cats alongside Chris Rock and a number of other A-list actors and comedians.

Created and produced by actor Mila Kunis, Stoner Cats revolves around a lovable old cat lady, Ms Stoner, and her five house cats which become sentient after inhaling their owner’s “magic” medical marijuana. Buterin voices Lord Catsington, an old taxidermied cat that provides wisdom and guidance to the other cats in the show.

Non-Fungible Television

The show will also star Kunis’s husband, Ashton Kutcher, as well as Seth MacFarlane, Chris Rock and Jane Fonda. Viewers will have to mint a non-fungible token (NFT) to get access to the first five-minute episode, but that token will function as a lifetime pass for all Stoner Cats episodes. The NFTs will sell for 0.35 ETH, or around $US800 at the time of writing.

NFT Cats Beget More Cats

The true genius of Kunis and her team is that minting a token to watch the show will also generate a unique NFT cat, which can presumably be traded among other collectors. Each cat is “algorithmically generated by combining 500+ unique traits with varying rarity across six categories (Eyes, Expression, Collar, Left Side, Right Side, Accessories). Incredibly rare NFTs featuring limited edition characters are also available.”

NFTs are hot topic right now, and combining them with cats, which are always extremely popular on the internet, is a brilliant move and one that could propel this project to great success.

NFTs Continue to Soar

NFTs are one of the most talked-about topics in the crypto community right now. NFT platforms continue to explore the implications on the distribution of artworks and entertainment media. A digital artwork known as the ‘Crypto Mona Lisa’, signed by Stoner Cats’ own Vitalik Buterin, will be listed on Australian platform NFT STARS on July 30.

CryptoMother, aka the ‘Crypto Mona Lisa’. Source: BTC Art Gallery

There has been further interest from traditional film and TV studios in using NFTs as a new way to distribute entertainment media. Last month, Fox Entertainment announced it was investing $US100 million into developing its own NFT platform. Earlier this month, it was announced that Oscar-winning actor Anthony Hopkins’ latest film, Zero Contact, will be released exclusively as an NFT on Vuele.

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Crypto Exchange Crypto News

Coinbase Set to Face Class Action Lawsuit for Securities Fraud

Coinbase, one of the world’s most popular cryptocurrency exchanges, is staring down the barrel of a class action lawsuit in relation to its NASDAQ listing.

Several US legal firms have announced that they have filed class action lawsuits against Coinbase Global Inc and certain Coinbase directors, such as Brian Armstrong (CEO), and officers for securities fraud in relation to Coinbase’s public listing in April.

What’s the Case Against Coinbase?

Coinbase went public on April 14 with a direct listing on NASDAQ, making available 114,850,769 shares, which began trading at $381 per share. The lawsuit alleges that at the time of the offering, Coinbase failed to disclose that it “required a sizeable cash injection” and its “platform was susceptible to service-level disruptions, which were increasingly likely to occur as the company scaled its services to a larger user base”. The lawsuit argues Coinbase’s share price declined dramatically when those factors became known to the market.

Coinbase Global share price on the NASDAQ. Source: TradingView

A Flip of the Coin

Coinbase is a juggernaut in the crypto world, with around 56 million verified users, 8,000 institutions, and 134,000 ecosystem partners in more than 100 countries. In April, a week before Coinbase’s public lisiting, its valuation hit US$1.8 billion with a surge in new users.

It remains to be seen what kind of impact this lawsuit will have on Coinbase’s operations and its global reputation. It could end with a routine settlement and Coinbase continuing with business as usual. There’s also a possibility it could drag on and greatly tarnish the exchange’s reputation.

Perhaps Brian Armstrong will become the latest billionaire to launch himself into space and just wait until the whole thing blows over.

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Australia Crypto News Mining

Aussies Can Now Help Grow a Wireless Network and Get Paid in Crypto

A growing number of Australians are helping to set up a network of Helium wireless hotspots that reward their owners in Helium Network Tokens (HNT).

Helium is a global network of public, long-range wireless hotspots for Internet of Things devices, such as Lime and Neuron scooters. Each Helium hotspot produces HNT, the native cryptocurrency of the Helium blockchain, as compensation for owners.

Community-Driven Network Already Up and Running

A global chip shortage has caused long delays on many tech products, including Helium hotspots. But for some lucky Australians, their hotspots are finally starting to arrive. The network is just getting started in Australia but there is already a long list of people itching to jump on board.

A map of active hotspots on the Helium network as at July 15, 2021. Source: Helium

The main draw is that a Helium hotspot will generate a decent amount of passive income. Some hotspot owners are reporting earnings of US$500+ per month just from one hotspot. Not bad considering the first round of devices sold for US$495 each.

Not everyone is in it just for the money, of course. Many believe in the technology and want to contribute to building a large, secure and global network for the ever-expanding Internet of Things.

Cardano Thing Down in Africa

There seems to be a global trend at the moment towards decentralised, user-driven wireless networks. Cardano recently announced it will be helping deliver a sustainable wireless internet network in Zanzibar and Tanzania, with hotspot owners being rewarded for providing coverage.