technology

Music Tech Startup Songfinch Raises $17 Million to “Create a Middle Class of Musicians”

Music tech startup Songfinch has secured $17 million, closing a Series A funding round that amplifies its efforts to create a “middle class of musicians,” Built In Chicago reports. Songfinch is one of a handful of music startups aiming to change how independent musicians are compensated for their work. “The industry tends to be a star-driven league and the top two percent get a chance to participate and eat most of the dollars in the industry while the other 98 percent struggle and fight for scraps,” John Williamson, CEO of Songfinch told Built In Chicago. The goal of Songfinch’s online marketplace is to provide artists with a hub where consumers can commission them to create custom songs. The platform allows users to choose a style, mood and other custom elements f...

Are decentralized digital identities the future or just a niche use case?

As users take advantage of online services and explore the internet, they eventually create a digital identity. This type of identity is then tied to central entities like Google and Facebook, which make it easier to share data with new services through simple sign-in buttons. While these digital identity management systems are convenient, they are relying on centralized intermediaries that hold and control user data. Personal identifiers and attestations are in their hands, and they can decide — or be forced — to share this information with other parties. Blockchains offer a solution: decentralized digital identities. These allow individuals to manage information related to their identities, create identifiers, control who they’re shared with and hold attestations without relying on a cen...

Anonymous makes numerous allegations against Yuga Labs and its Bored Ape Yacht Club

On Sept 26, internet hacktivist group Anonymous released a video addressing blockchain technology company Yuga Labs and its NFT-driven social club, Bored Ape Yacht Club (BAYC). The group’s statement included a laundry list of allegations regarding Yuga Lab’s alleged use of esoteric symbolism in BAYC’s art — which Anonymous believes shows the company’s support for numerous controversial subjects, such as Nazism, racism, simianization, and pedophilia. The hacktivist group alleged that, after thorough research and interviews with key figures, it can confirm “without a shadow of doubt” that the Bored Ape Yacht Club (BAYC) and Yuga Labs are guilty of hiding these esoteric symbols in plain sight — a conclusion the company and project both openly protest. [embedded content...

Innovation will drive NFT adoption despite mainstream presence: NFTGo founder

The presence of big players in the nonfungible tokens market might evangelize newbies, but they do not lead to mass adoption or innovation, claimed Tony Ling, co-founder of NFTGo in a conversation with Cointelegraph. Major developments, such as Adobe’s acquisition of Figma, would potentially impact creators per the combination of both the companies’ features. Adobe, for example, owns Behance, a creative showcase platform that allows users to connect crypto wallets and NFTs to their profiles, while Figma provides kits for NFT creators. The mainstream presence in the space, however, isn’t seen as a game changer, as the industry faces challenges with high royalty fees and a bear market — as seen by the recent 20% staff layoff at OpenSea. “Key innovation must happen in ...

Blurring the line between crypto and TradFi could redefine global finance

Despite the current struggle in the global economy, the gap between traditional finance (TradFi) and crypto seems to be closing with each passing day.  For example, earlier this month, Vienna-based fintech unicorn Bitpanda announced that it was adding commodities to its list of investment options, thus allowing investors to rake in profits from short-term price fluctuations related to traditional instruments such as oil, natural gas and wheat. In a recent interview with Cointelegraph, the company’s CEO, Eric Demuth, noted that the bear market had had no major impact on investor demand. He claims that more people are now looking for solutions that can bring the world of TradFi and decentralized finance (DeFi) together. Not only that, there are lessons to be learned about what works out...

Sam Zuga Launch AFREP Tokens Utility App, can now buy airtimes, subscribe Gotv,DStv with Afrep, flight Booking on the way

Share Whatsapp reddit Tweet 0 Shares Founder of ZugaCoin, Sam Zuga Ecosystem has launch utility app for one of it tokens, AFREP. The app was launch within this month. The app which is now available on Google Play store, give user access to use AFREP tokens to buy airtime, subscribe Gotv, DStv and pays electric bills in Nigeria. .u38a19b7b9d7a194c48f5c20c9e5048b1 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:inherit; border:0!important; border-left:4px solid #16A085!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -webkit-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); text-decoration:none; } .u38a19...

NFTs will bring crypto to billions of users, explains VC investor

Avichal Garg, the CEO and co-founder of Electric Capital, defines himself as “an NFT maximalist” – who believes that nonfungible tokens (NFTs) will play an essential role in bringing crypto to the masses. Unlike other crypto niches, NFTs are relatable to aspects of everyday life such as art, music and games.  “I could imagine that NFTs are actually many billions of people because it’s ultimately culture. And that’s something that everybody can participate in and everybody can understand,” said Garg in an exclusive interview with Cointelegraph.  [embedded content] In particular, Garg is bullish about NFTs being used in the gaming industry, which he sees growing at an exponential pace. “In 18-24 months from now, I think we’re just going to see this onslaught of (N...

Coinbase to educate users on policies held by local politicians with new app integration

On Sept. 14, Coinbase co-founder and CEO Brian Armstrong announced the company’s plans to begin integrating crypto policy efforts into its app. According to him, this will help the company’s 103 million verified users know where their local political leaders and representatives stand when it comes to cryptocurrency.  1/ Starting today, Coinbase will begin integrating our crypto policy efforts right into our app. These will help our 103M verified users get educated on the crypto positions held by political leaders where they live. pic.twitter.com/3GqWZIioZQ — Brian Armstrong (@brian_armstrong) September 14, 2022 Coinbase will rely on some of the data compiled by the Crypto Action Network — a 501(c)(4) organization dedicated to promoting the growth and security of cryptocurrency. Specif...

Collapse of Terra blockchain ecosystem forces talent migration

At the height of the 2022 bull market, the Terra ecosystem was booming with talent and innovation. The native token of the Terra blockchain had made its way to the top-10 cryptocurrencies by total market capitalization. Protocols were building the next iteration of a super cycle that seemed like it would never end.  Terraform Labs created Terra amid the crypto market crash of 2018 and built it all through the bear market. The Terra ecosystem’s main appeal and claim for glory came from their offer of the best yields in decentralized finance (DeFi), with up to 20% yield on its stablecoin through the Anchor protocol. As of March 2022, Terra had a total of 73 projects built in the ecosystem. The ambition of the team was to onboard at least 87 more projects by the end of the year. Terra wa...

Why quantum computing isn’t a threat to crypto… yet

Quantum computing has raised concerns about the future of cryptocurrency and blockchain technology in recent years. For example, it is commonly assumed that very sophisticated quantum computers will one day be able to crack present-day encryption, making security a serious concern for users in the blockchain space. The SHA-256 cryptographic protocol used for Bitcoin network security is currently unbreakable by today’s computers. However, experts anticipate that within a decade, quantum computing will be able to break existing encryption protocols. In regard to whether holders should be worried about quantum computers being a threat to cryptocurrency, Johann Polecsak, chief technology officer of QAN Platform, a layer-1 blockchain platform, told Cointelegraph: “Definitely. Elliptic curve sig...

CleanSpark acquires mining facility in Georgia for $33 million

Crypto mining firm CleanSpark announced an agreement on Friday to acquire Mawson’s Bitcoin mining facility in Sandersville, Georgia for $33 million. The deal is anticipated to increase CleanSpark’s hash rate by 1.4 exahashes per second (EH/s) in the next few months, and to 7.0 EH/s by the end of next year. As part of the agreement, 6,468 last-generation mining ASICs will be purchased for $9.5 million, or $17 per terahash. “These machines, already operating at the acquired site, will add over 558 petahashes per second (PH/s) of computing power immediately upon closing,” the company explains. For the facility and miners, CleanSpark will pay up to $42.5 million, including up to $11 million in CleanSpark stocks and $4.5 million in earn-out commitments. The site in Georg...

ETH Merge will change the way enterprises view Ethereum for business

A recent report from the Ethereum Enterprise Alliance (EEA) highlights how the Ethereum ecosystem has matured to a point where the network can be used by businesses to solve real-world problems. From supply chain management use cases to payment solutions utilized by companies like Visa and PayPal, the report demonstrates how the Ethereum network has grown to become one of the most valued public blockchains.  Although notable, the EEA report also points out that the rapid growth of the Ethereum ecosystem has created a number of challenges for companies, specifically regarding energy consumption, scalability and privacy. For example, the document states that “sustainability was cited as one of the main concerns, along with transaction fees, in relation to using the Ethereum Mainnet.” Th...