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Australia Crypto News NFTs

Australia Ranks #2 for Interest in NFTs, Based on Google Searches

With exchange sites such as OpenSea registering record numbers of NFT listings and sales, the world has been quick to realise the potential of this new class of digital assets and the many functions they serve.

According to the NFT Club‘s recent survey, “A World of NFT Adoption”, the country ranking second-highest in terms of interest in NFTs is Australia.

Source: NFT Club

Taiwan Tops the List

Australia is second only to Taiwan, which has an average of 9,629 searches per 100,000 people and a population of 23.8 million people. Australia notches 8,198 Google searches per 100,00 people, with a total population of 26 million. According to the NFT Club website:

This interest in NFTs and willingness to accept them as a new part of the digital ecosystem is a testament to Australians’ adaptability and openness to new ideas.

NFT Club website

Canada, Iceland and New Zealand follow Taiwan and Australia in terms of NFT interest.

Australia Goes Big on NFTs

Recently, an Australian investor in the NFT space managed to turn US$300 into a whopping US$5 million. Steve Morlando acquired a particularly rare Bored Ape from the popular NFT series Bored Ape Yacht Club for a mere US$300, and it’s now worth about US$5 million. Although Morlando stands to realise a massive profit should he sell, he has no interest in doing so.

The Australia Zoo has also joined the NFT space by collaborating with Meadow Labs to create a unique Australia-themed NFT collection built atop the carbon-neutral Algorand blockchain. The collection celebrates the 20th anniversary of the zoo’s Wildlife Warriors project, and all proceeds go to the zoo and its associated conservation efforts.

Categories
Australia Crypto News Metaverse

Australians Lag Developing Nations in Metaverse Awareness, Report

Compared to developing nations, a recent report by Ipsos has found that only 44 percent of Australians are familiar with the metaverse.

In a global survey on the state of new technologies around the world, Ipsos found that people across the planet have different levels of excitement around technology, however almost all agree that it has and will continue to profoundly impact their lives.

Less than half the Australian cohort surveyed (44 percent) expressed familiarity with the metaverse, while only 36 percent expressed positive feelings about engaging with the metaverse in their daily lives.

Zooming out, roughly 50 percent of adults across 29 countries said they were familiar with the metaverse and had positive things to say about engaging with it:

Ipsos
Percentage positive feelings engaging with “extended reality” in daily life. Source: Ipsos

Key Australian Findings

Some of the more interesting findings in relation to Australians surveyed include:

  • 80 percent said they were familiar with virtual reality (VR), compared to 51 percent of those familiar with augmented reality (AR);
  • males tended to be much more positive toward extended reality relative to females (42 percent vs 29 percent); and
  • over the next decade, participants surveyed saw the metaverse applications as having the biggest impact to include virtual learning (65 percent), digital health resources (61 percent), and digital entertainment in virtual reality (60 percent):
Metaverse applications in next decade. Source: Ipsos

Developing Nations Ahead of Australia

Unsurprisingly, there were vast differences in both metaverse familiarity and excitement, depending on demographics, nationality and socio-economic factors.

Interestingly, excitement about extended reality is significantly higher in emerging countries than it is in most high-income countries. In addition, levels of familiarity with VR, AR and the metaverse show a similar pattern. Ipsos’ Australian director, David Elliott, noted that:

The findings from this latest global survey show that Australia is well behind a lot of countries around the globe in terms of our familiarity with extended reality and our feelings towards it.

David Elliott, director, Ipsos Australia

Elliott added: “What we know from other research is that as familiarity improves, so too does the potential for trust and positivity. As we hear more about these technologies and learn more about them, it is likely we will become more positive about them and their potential to hopefully have a real impact on our lives.”

Despite Australians lagging behind in crypto awareness, according to one recent report, one forward-thinking indigenous community has embraced the metaverse in a big way and established its own cultural embassy and digital currency.

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Australia Crypto News Gaming Immutable X

Aussie Tech Unicorn ‘Immutable X’ Launches $40 Million Fund for Blockchain Games

Australia-based Immutable X has joined forces with gaming company Kongregate to establish a US$40 million fund giving grants to developers who make blockchain games.

Chipping in Towards Blockchain Gaming Development

Immutable X is well-known in the blockchain gaming space and has also developed an ETH-based scaling solution to enable faster in-game transactions. This week, the company announced a US$40 million fund comprising an IMX token pool that will be awarded as grants to blockchain game integrations on Kongregate’s web-based gaming platform.

Developers are said to benefit from Kongregate’s end-to-end integration solution, which is designed to ensure that each game is a “fun and engaging experience for players”. Markus Lipp, Kongregate’s CEO, added:

We want our players to be owners in their personal gaming journeys. Blockchain technology allows us to give them a deeper experience in ways not possible with traditional games, from enabling players to help to shape what comes next in the storylines they love to being able to maintain their unique character across titles.

Markus Lipp, CEO, Kongregate

According to Lipp, the partnership with Immutable X would ensure that “our players have the best NFT experience possible with technology that brings true innovation to gameplay, while also ensuring it’s green and scalable”.

Robbie Ferguson, co-founder and president of Immutable X, saw the partnership as an opportunity “to help power the next generation of blockchain games”, adding:

With today’s launch of our blockchain developer fund, we’re excited to deepen our relationship with Kongregate as we work together to attract the best and brightest developers to build new titles on Kongregate’s relaunched Web3 platform.

Robbie Ferguson, co-founder and president, Immutable X

One Success After the Next

Immutable X is regularly making headlines these days, seemingly enjoying one success after another. After raising US$200 million earlier this year, strategic partnerships appear to be one of the key elements driving the company’s growth.

Last year, the company partnered with an e-sports platform to enable “gasless” NFTs. More recently, in February Immutable X teamed up with GameStop in a US$100 NFT platform deal.

Categories
Crypto News Illegal NFTs Scams

29 Moonbird NFTs Worth $1.5 Million Stolen in Phishing Attack

NFT owners have been urged to remain vigilant after 29 Moonbird tokens were stolen in a phishing attack when a malicious link netted a scammer US$1.5 million worth of Moonbird NFTs from a Proof Collective member:

Moonbirds’ Massive Launch Success Makes it a Target

Moonbirds launched with a bang in April, racking up US$200 million in sales with one Moonbird in particular netting a massive US$1 million within a week of the launch.

Dollar, a popular Twitter personality and NFT holder, has claimed that the culprit is already “half doxxed” by the crypto exchange and that Proof Collective and its members are currently working on a full report in collaboration with the Federal Bureau of Investigation (FBI):

It is still unclear how many victims in total have fallen victim to the scam, but it serves as a harsh reminder that even the savviest of NFT investors need to be on their toes when it comes to scammers.

Recent crypto scams also serve as a harsh wake-up call for NFT owners to exercise caution when dealing with a third-party platform and to double-check anything shared by others.

Categories
Banking Bitcoin Crypto News Payments

Stripe and OpenNode Join Forces to Bring BTC Payments to Millions of Merchants

Stripe, one of the world’s largest payment processors, is partnering with OpenNode to allow instant fiat-to-bitcoin conversions for a host of businesses. The new OpenNode app will launch on the Stripe App Marketplace in coming weeks:

Choice of Auto or Manual Set Amounts

To instantly convert all or portions of incoming payments to bitcoin, businesses will have the choice of setting an automatic amount or manually converting any amount they wish.  

According to OpenNode’s head of strategy, Josh Held, “The app gives businesses a simple and secure way to convert incoming payments to bitcoin in real-time, automatically or on-demand.” The functionality will be available via a new app from Bitcoin Lightning Network infrastructure provider OpenNode on Stripe’s new app marketplace within the next couple of weeks.

Businesses will be able to see their bitcoin wallets and conversion rates within the apps, as seen below:

Source: Stripe Marketplace

Direct Link to Bank Accounts

The app will also allow businesses to connect directly with their bank accounts, thereby enabling accessible bitcoin conversions from fiat at any time.

The automatic conversion from fiat to bitcoin will be accomplished through a split-payment feature located in the app, which businesses will be prompted through when undertaking the initial setup process. If businesses choose not to set up split conversion initially, they can return to the app’s setting and enable the feature at any time.

Categories
Bitcoin Crypto News Crypto Wallets South Africa

Central African Republic Teases ‘Project Sango’ Creating Crypto Hub

Just a month after making Bitcoin legal tender, the Central African Republic (CAR) is teasing another crypto initiative dubbed ‘Project Sango’. It has gone as far as publishing online plans for a ‘crypto hub’ that will include a ‘crypto island’ and a digital wallet.

A May 23 post on the government’s official Facebook page referred users to a landing page at sango.org. Users were then requested to register for the waitlist and provided with a link to a 24-page online presentation with more detail regarding the planned initiative.

The president of CAR, Faustin-Archange Touadera, did not confirm the plans, but tweeted on the weekend with the hashtag #bitcoin that the next phase would be announced “very soon”:

First Government-Recognised Legal Crypto Hub

The Sango Project, according to the presentation, entails developing “the first legal crypto hub recognised by a country’s parliament”. The country’s ambitions also include establishing a Digital Nation Bank, allowing Bitcoin land sales, and constructing a crypto wallet.

Door Opened to Natural Resources

The presentation adds that the government will facilitate crypto enterprises’ access to natural resources such as gold, diamonds and uranium, as well as implement a “citizenship by investment” program with zero-rate income and company taxes.

This news is significant as the landlocked African nations rank among the least developed economies in the world, with agriculture being the largest contributor to their gross domestic product. According to figures from the World Bank, the CAR’s economic output stood at US$2.38 billion as of 2020 and the country ranks near the bottom of the United Nations’ Human Development Index.

Categories
eBay NFTs Polygon Tezos

Ebay Taps Tezos-Powered ‘OneOf’ to Enter NFT Business

Popular e-commerce website eBay has announced the release of its debut collection of NFTs, a hockey-themed drop in partnership with Tezos- and Polygon-based NFT platform OneOf.

The release marks the marketplace’s first foray into digital collectibles after it had been teasing the concept for some time now:

NFTs a Year in the Making for eBay

eBay officially announced its interest in digital collectibles in May 2021 after CEO Jamie Iannone had foreshadowed the possibility of integrating into the world of NFTs and cryptos. In September 2021 eBay said it would allow the sale of NFTs on its platform and in March this year, Iannone suggested that eBay would start accepting crypto payments later that month.

eBay’s NFT collection will involve digital collectibles of popular athletes such as Canadian former ice hockey player Wayne Gretzky. Each athlete will have four tiers – green, gold, platinum, and diamond – with the green tier including NFTs as cheap as US$10.

The firm has said it intends to release more NFT collections of high-profile athletes over the rest of the year. Prices of the NFTs range up to US$1,500 and are purchasable via the same fiat payment methods as the platform’s other physical items.

“Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere,” said Dawn Block, eBay’s vice president of collectibles, electronics and home, in a statement. “This builds on our commitment to deliver high passion, high-value items to the eBay community of buyers and sellers.”

OneOf is built on the Tezos and Polygon blockchain, which both use a proof-of-stake consensus mechanism.

Categories
Crypto News NFTs OpenSea

OpenSea Launches ‘Seaport’, an NFT Web3 Bartering Protocol

OpenSea has announced the launch of a new marketplace protocol dubbed ‘Seaport’ that will allow its users to barter for NFTs, adding additional payment methods beyond just paying for the tokens with cryptocurrencies:

‘Seaport’ allows users to acquire NFTs in a range of new ways. For example, they can bundle different assets in exchange for NFTs, extending payment methods beyond just crypto:

SudoSwap already allows users to barter for NFTs, but this feature is now becoming native to OpenSea. According to the platform, a user “can agree to supply a number of ETH/ERC20/ERC721/ERC1155 items” in exchange for NFTs.

Tipping Support Also Offered Via Seaport

Adding to its new features, Seaport users can now also specify which criteria, such as certain traits on NFT artwork, or pieces of a collection they want when making offers. OpenSea will also support tipping if the amount does not exceed that of the original offer made:

The NFT marketplace stated that “OpenSea does not control or operate Seaport protocol – we will just be one, among many, building on top of this shared protocol”.

As adoption grows and developers create new evolving use-cases, we are all responsible for keeping each other safe.

OpenSea blog post

OpenSea Rolls Out Wave of New Features

OpenSea continues to evolve and improve its users’ experience. Last month a leak was made public that reveals users will soon be able to trade NFTs on OpenSea using credit cards. Most recently, in an attempt to prevent fraud and plagiarism that hinders the NFT space, OpenSea announced it would be putting measures in place to reduce fraud while improving authenticity.

In a series of blog posts, OpenSea revealed it would be making two changes to the platform: an updated verification and collection badging system, and an automated system to aid in identifying, removing, and preventing instances of “copymints”.

Categories
Ethereum NFTs Polygon Social media

Twitter Rival ‘Lens Frens’ Launches on Polygon, Decentralised NFT Social Platform

Aave has launched a decentralised, NFT-based Twitter competitor on the Polygon network. Lens Protocol is designed to power social media apps such as Lens Frens to rival centralised giants like Twitter.

Lens Protocol is essentially a decentralised social graph that utilises NFTs stored within a crypto wallet to power social media platforms. Users retain ownership of their content, and anyone can build on the protocol.

Faster, Cheaper, Greener

Lens utilises the Polygon network, a sidechain scaling solution for Ethereum. Polygon enables faster, cheaper, and less energy-intensive transactions than Ethereum’s own mainnet, making it more viable for a social network built on a potentially large number of NFT assets:

‘Content Creators Should Own Their Audiences’

Lens Protocol was first teased in June 2021 when Aave founder and CEO Stani Kulechov tweeted: “Since [Square CEO and then-Twitter CEO Jack Dorsey] is going to build Aave on Bitcoin, Aave should build Twitter on Ethereum.”

Kulekhov added:

We believe that content creators should own their audiences in a permissionless fashion, where anyone can build new user experiences by using the same on-chain social graph and data.

Kulechov went on to outline his mission statement: “We wanted to create a social media protocol, or essentially a social graph, and create these profiles on the network by tracking relationships on the network and creating an unauthorised way for content to be distributed between creator and audience.”

Categories
Crypto News Fan Tokens

BitPanda Listing Sees PSG Lead Fan Token Pump 124% Overnight

The listing of French football superpower Paris Saint-Germain’s fan token $PSG on BitPanda and Socios gives fans the power to vote on club decisions and access VIP events, leading to the token surging 124 percent overnight.

BitPanda Announces Listing of Seven Socios Fan Tokens

$PSG has grabbed the limelight this week supported by BitPanda, but movement across the 40 Socios fan tokens has over the past few weeks reflected fan sentiment toward team performance and the club itself. According to data from CoinCecko, PSG has leapfrogged Manchester City Fan Token to top the Fan Token table this week. In seven days, PSG surged 132.5 percent to a market capitalisation of US$33.08 million, with 82 percent of that coming in the past 24 hours.

Other coins listed on BitPanda include Juventus Fan Token, Atletico De Madrid Fan Token, Santos FC Fan Token, FC Porto Fan Token, FC Barcelona Fan Token and Manchester City Fan Token.

PSG Affirms Its Spot in the NFT Market

PSG has affirmed its spot in the NFT market, making multiple deals. Last year PSG signed a deal worth US$35 million with Crypto.com, a significant portion of which was paid in CRO tokens. The PSG Fan Token has seen similarly massive growth, surging 52 percent on the day Lionel Messi departed FC Barcelona to join the French club.