A New Option “Select NFT” Coming to Twitter, Dating App Bumble Hiring the “Head of Crypto and Web3”

A New Option “Select NFT” Coming to Twitter, Dating App Bumble Hiring the “Head of Crypto and Web3”

Jack Dorsey’s Twitter will allow NFT profiles to be displayed in a different shape to the regular round images, found app researcher Alessandro Paluzzi.

Another assessment of Twitter’s code, this time by Jane Manchun Wong, showed that the social media giant would soon provide its users with a new option called “Select NFT” to update their profile image.

Users will then need to connect their crypto wallet to link their NFT collection directly into Twitter’s display tool.

With this, the idea is to verify the ownership of the NFT.

In September, Twitter announced that it would roll out a way for users to authenticate their NFTs on the platform. An early preview showed that users could link their personal cryptocurrency wallets and NFT marketplace OpenSea accounts to showcase their NFTs directly on Twitter.

The feature, accessible through the Edit Profile option, also showed that it allowed users to choose an avatar from their NFT collection to replace their profile picture.

Crypto Enters The Dating World

In other news, online dating app Bumble is hiring an executive role of “Head of Crypto and Web3,” as per the company’s job posting. The person will be responsible for laying the foundation to support Bumble’s crypto strategy, focusing on the creator economy. Bumble President Tariq Shaukat said in an interview,

“What we really think is really interesting in the near term is the application of blockchain and crypto in general to the experience that our communities have. Fundamentally, we are not just an ecosystem, but we are a community of people.”

Bumble is testing several things related to crypto that will be rolled out in the coming months, said Shaukat.

“This is something that is going to evolve. We want to make sure we’re setting the technical engineering foundation for whatever emerges in the metaverse and in the Web 3 world.”

Earlier last month, as we reported, the popular dating app Tinder also announced that it is rolling out an in-app currency so as to encourage users to spend more time swiping and spending real money on the app.

The company expects the coins to play “an important role” because virtual currency is useful in the context of gifting digital goods, said Chief Financial Officer Gary Swidler at the time.

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Author: AnTy

Growing Number of Clients Bought ETH, But Only A Select Group Is Investing in DeFi: Coinbase

Growing Number of Clients Bought ETH, But Only A Select Group of VC Funds & Family Offices Investing in DeFi: Coinbase

DeFi remains retail-driven just like the early days of Bitcoin adoption, says Coinbase whose clients are interested in Ethereum’s evolving potential as a store of value and its status as a digital commodity.

2020 brought “traditional hedge funds to the forefront of participation,” states Coinbase in its 2020 in the Review report.

Covering the year “crypto cemented its status as an institutional asset class,” said the largest cryptocurrency exchange in the US, which is planning to launch its IPO, noting that macro funds are the earlier adopters with several large funds now begun trading Bitcoin and Ethereum directly with investor capital as well.

The company’s clients invested in Bitcoin for a range of reasons, including as a store of value, as an inflation hedge and/or insurance against new potential monetary policy risks, as a portfolio diversification tool, and as a treasury reserve asset.

Coinbase is particularly expanding its business in Europe and Asia, with Singapore as the staging post for Asia expansion because of its regulatory clarity. After opening its third office in Europe, Coinbase now has 120 full-time employees in the region.

A Trend Occurring out of View for Most of Wall Street

“While our institutional clients predominantly bought Bitcoin in 2020, a growing number also took positions in Ethereum,” reads the report.

The second-largest cryptocurrency, which has been more volatile than Bitcoin, is seen by Coinbase’s institutional clients as a “decentralized computing network that shares Bitcoin’s properties of trustless store and transmission of value, along with more flexible programmability via smart contracts.”

Ethereum’s evolving potential as a store of value and its status as a digital commodity required to power transactions on its network are the clients’ reasons for owning the digital asset. However, the community needs to settle on a clearer and simpler narrative, which Coinbase says is both a challenge and an opportunity for Ethereum.

Decentralized Finance (DeFi) is also seen as one of the most important growth developments for the Ethereum network as Coinbase clients believe this sector has “potential to reinvent financial products and services.”

Coinbase hasn’t yet seen significant investment in DeFi assets from institutional clients, except for “a select group of venture capital funds and family offices.”

DeFi remains retail-driven; just like the early days of Bitcoin adoption, Coinbase added maturity would take time.

“We can imagine a future in which institutional investors can access both traditional and decentralized financial services through trusted, regulated onramps,” which may be difficult to imagine today given the relatively small size of the DeFi market, a bottom-up trend that is occurring out of view for most of Wall Street.

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Author: AnTy

Zcash Foundation to Elect 5 Members to ZCAP to Control its 420,000 ZEC ($34M) Treasury

The Zcash Foundation has decided to select a new five-member board for Community Advisory Panel (CAP), who would be responsible for the to look after the deployment of 420,000 ZEC worth $36 million.

The selection of 5 member team would be based on the merit where the foundation would look for those people who have a broader understanding of the Zcash ecosystem and its applications. Zooko Wilcox, the founder of Zcash, said that the five-member team would responsible for managing one of the most significant controllers of the funds in the foreseeable future. He tweeted,

“Whoa! Major news! The Zcash Community Advisory Panel is open to new members! The ZCAP is about to elect the new five-person committee that is going to be the largest controller of funds in the Zcash ecosystem for the foreseeable future.”

CAP is the Zcash-powered community responsible for the governance decision on the Zcash blockchain. However, it is essential to note that the CAP community won’t have any unopposed say in any matter, and they cannot determine any significant technical changes such as a hard fork either.

How did the Idea of a new 5-Member CAP Community Come up?

The decision to bring in a 5-member new governance team arose from the community Zcash governance forum, where many demanded that the ZCash foundation must bring in a new 5-member team for CAP. After this, almost 35 members shared their interest in joining the new board.

After the demand surfaced in the community forum, the Zcash Foundation, along with Electric Coin Company, the Zcash code maintainer agreed upon the community demand. The foundation released an official statement after that which read,

“The Foundation wholeheartedly agrees with this sentiment and believes we can more broadly increase participation legitimately before the September 1 candidacy deadline. We believe opening up the CAP with this process is completely aligned with the community interest, and would result in a more effective and legitimate outcome based on experience similarly collecting community sentiment for the dev fund Zcash Implementation Proposals.”

New members can join the CAP can either participate by an official invite or any member from the existing 62 members from the Community Advisory Panel can join in the new board by September 1.

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Author: Silvia A

Blockchain Technology Will Be Used to Select Cryptoart Charity Auction Winner

Blockchain Technology Will Be Used to Select Cryptoart Charity Auction Winner
  • Blockchain technology will randomly select a winner for “The Ecstasy.”
  • Artist Trevor Jones created the art piece out of inspiration from the cryptocurrency industry.

Blockchain technology is no stranger to the world of sales. It has been used in the purchase of fresh produce, plane tickets, and even art. Now, the technology is being integrated into a charity auction in a unique way.

According to reports from The Next Web’s Hard Fork, the technology is being used in an auction for crypto art as the method of selecting the winner. Several firms are participating in this new use case, including:

  • ChangeAngel, a crypto-swapping exchange service
  • CryptoBantam, a crypto clothing store
  • Trevor Jones, a cryptoartist

Jones was responsible for the auction of the art, which is titled “The Ecstasy,” which he promoted on his own Twitter profile.

Right now, the raffle can be entered with a payment of Bitcoin or fiat currency. During a standard raffle, customers have to purchase entry tickets, which is exactly how to enter this lottery, but they are logged on the blockchain. Anyone can view this list at the CryptoBantam website under the link titled “Lottery History.”

The competition will close on August 4th, and each ticket will be categorized with a hexadecimal number, starting at zero. The numbers will be published online with a timestamp to maintain the transparency of the raffle. After compiling the list, a “deciding block” will be announced by CryptoBantam.

Hard Fork states that the block chosen will be mined at approximately 9:00am UTC on August 4th, which is about two hours after the close of ticket sales.

In an email, a spokesperson told Hard Fork,

“Provisionally this will be Bitcoin block number 588,525. In order to win, entrants must match their hexadecimal ticket number with the ending [last two or three] digits of the hash” of the chosen Bitcoin block.

This process makes the concept of cheating the system nearly impossible.

CryptoBantam confirmed that the last two or three digitals of the hash will be used, based on the number of tickets sold. If the number is less than 256 sold, then two digitals will be used. If the ticket sales are higher, then three digits will be used, as long as fewer than 1,024 entries are sold. When Hard Fork published their article, the total number of tickets sold reached 268.

The lottery itself started on July 6th and ends this weekend. The artwork up for purchase was created by Trevor Joes, who was inspired by cryptocurrency to create the work of art. “The Ecstasy” shows two figures, appearing to be angels, in front of a golden Bitcoin. One of the figures appears exhausted and stressed, while the other offers help. Jones has become a popular man in the cryptoart world for paintings such as these.

The profits from this raffle will be split amongst War Child, Thirst Relief, and The Little Edi Foundation, which are all charities. The amount will be distributed evenly between these organizations.

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Author: Krystle M