Crypto Daily News from ZBG Exchange

1. Crypto Long & Short: What NFT ‘Markets for Emotion’ Say About Tech Business Models

NFTs may be frothy right now, but they reveal a new type of price discovery for a new type of value, which could change business models.

But while that’s interesting, and ties into what I’ve written before regarding the massive impact the younger lens will have on our concept of investing, there is more going on here. So instead of a cultural/generational take, I’m going to look beneath the froth to what this trend says about how markets are evolving. It matters.

It’s not just the new markets springing up for digital artwork, video clips, music, tweets, etc. It’s not just the new types of financial assets that can benefit from the NFT tailwinds, such as tokenized securities and liquid insurance contracts. Those are all potentially transformative, but what I’m especially intrigued by is the emergence of a market for something that hasn’t been possible to value before: emotion.

This could give rise to much more than a new market as well as a new way of communicating and relating to peers. It could change entire business models, not just of culture but of any service, and could solve some of the inequities and vulnerabilities of the current web stack.

2. DeFi Lending Protocol Alchemix Raises $4.9M in Round Led by CMS, Alameda

Alchemix said it sold the investors the protocol’s native ALCX tokens at $700 per token.

Alchemix said it sold the investors the protocol’s native ALCX tokens at $700 per token. Proceeds were transferred to the protocol’s founders as compensation for their work. Alchemix noted that as this was the protocol’s first capital raise, all work prior to this had been done without compensation.

In order of investment size, the investors were: CMS, Alameda Research, Immutable Capital, Nascent, Protoscale Capital, LedgerPrime, eGirl Capital, Fisher8 Capital, Orthogonal Capital and one individual, whose name was not provided.

The protocol said the raise allows the founders to commit to full time development and will also be used for audits, contractors, hiring, marketing, and community efforts.

Under terms of the raise, the protocol’s founders can’t sell any more tokens this year while the funding group are prohibited from selling theirs for three months.

3. Social Tokens Crash After a Reported Hack at Roll Wallet

The founder of WHALE, a coin issued through the social token platform, confirmed the hack on Twitter.

Tokens like WHALE, RARE and PICA tanked more than 50% during the early European hours, according to data provider CoinGecko. Meanwhile, the RLY token of competing social money platform Rally spiked to all-time highs.

The founder of WHALE, a social coin underpinned by a basket of non-fungible tokens (NFTs), confirmed the hack on Twitter, stating that 2.17% of the coin’s supply has been compromised and the rest is secure in the cold storage.

Roll facilitates the sending and receiving of social money from Ethereum blockchain and within the Roll network.

According to MyCrypto.com, the malicious entity that executed the Roll hack is now sending 100s of ether (ETH, -0.51%) to Tornado Cash, an Ethereum-based privacy tool used by hackers to cover tracks and withdrawn funds.

4. Tesla’s Elon Musk Wants Coinbase to Become DOGE-Friendly

A listing on Coinbase would unleash dogecoin to a whole new breed of investor.

Musk tweeted an exclamatory “Yes” on Saturday after a Twitter user asked the billionaire investor whether Coinbase should enable the Shiba Inu-represented cryptocurrency on its platform.

A listing on Coinbase would expose dogecoin to a whole new breed of investor and thus unleash its potential. That’s because the U.S.-regulated exchange is considered synonymous with institutional investors and high net worth individuals. Tesla bought bitcoin worth $1.5 billion in February via Coinbase.

5. Batman Is Ours Alone to Exploit. DC Comics Warns Against Using Its Characters in NFTs

DC Comics, Inc., a subsidiary of Warner Bros, is unhappy with artists using its intellectual property in non-fungible tokens. The publisher has its own plans.

In a letter sent to freelancers employed by the firm Thursday, Jay Kogan, DC Comics’ senior VP of legal affairs, stressed it is against company policy to sell digital images featuring DC’s IP with or without NFTs.

Kogan said DC Comics, a subsidiary of Warner Bros, itself a unit of Time Warner, has its own plans to enter the NFT space and is currently exploring opportunities to enter the market.

Former DC Comics artist Jose Delgo, who is known for his sketches of Wonder Woman, has made $1.85 million by selling NFTs featuring the superhero and other licensed characters, Gizmodo said.

Founded in July 2018, ZBG is a Hong Kong-based cryptocurrency exchange, a global platform of ZB.COM.

ZBG.com has quickly become one of the top 10 exchanges in the world with its innovative, efficient and global operations, and is known as a “New First-Tier” exchange.

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In the future, ZBG will continue to expand its global market and provide stable, safe and fast blockchain project listing, diversified crypto assets and blockchain derivatives investment services to more blockchain enthusiasts around the world.

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ZBG Team

March 15, 2021

Launched in 2018, ZBG is a Hong Kong-based crypto exchange, a subsidiary of ZB.COM. ZBG is focused on providing a trading platform for new and innovative tokens