Today, the language of self-sovereignty had spread far beyond its beginnings as a type of identity to users of many sorts of digital assets, such as cryptocurrency. Digital-asset holders speak of it as something that gives them the autonomy to make their own decisions about those assets, without any interference from third parties or other gatekeepers. So, even if there is still some question about the “self-sovereign” nomenclature in the digital-identity ecosystem, it seems to be increasingly accepted by the digital-assets community.
The group is a private sector initiative aimed at making the cryptocurrency industry 100% renewable in energy consumption by 2030. The group is a partnership of Energy Web, RMI, and the Alliance for Innovative Regulation (AIR). The group brings together parties including CoinShares, ConsenSys, Web 3, Ripple, the United Nations, and others who want sustainable blockchain and crypto technology.
Fashion giants may be the next globally recognized brands to enter the expanding NFT metaverse.
According to Vogue Business, several premium fashion houses are moving closer to releasing their own nonfungible tokens.
The move follows the emerging trend of creating digital twins of products and services in the lifestyle and entertainment markets, such as art pieces, music, pop culture merchandise, among others.
Russo believes that the next major growth inflection point for the NFT market will be focused on gaming and decentralized finance: “Right now, the market is capable of understanding NFTs as something you can buy, sell or hold. The next stage of this market will be driven by what you can actually do with the asset class.”
As these industry experts outline, the possibilities of NFTs are as seemingly endless as the blockchain technology that powers them. There’s plenty of attention on NFTs, and it seems like it’s only a matter of time before new, exciting use cases emerge.
Adventurers in what is perhaps the most lucrative and risky corner of the cryptocurrency world are starting to see a bit of a safety net.
In the past year, scores of investors big and small have poured billions into decentralized-finance applications that allow users to lend, borrow and trade crypto without intermediaries like banks. While the DeFi sector is booming, it has also been plagued by hacks, fraud and a copy-and-paste coding culture where a modified app can siphon away users from an established rival.
NFTs are everywhere right now, from the NBA to Taco Bell, and artists like Grimes, Yaeji, and Toro Y Moi have been testing the waters. Grimes sold a collection of visual art for over $6 million; 3LAU, an EDM musician, made $11 million by selling an album as 33 individual NFTs; and Mike Shinoda of Linkin Park has sold several multimedia pieces through the NFT marketplace Zora. The website XLR8R announced a dedicated marketplace for music NFTs earlier this week, and there’s a burgeoning cottage industry of NFT auction houses looking to bring these collectibles to the masses.
“We’re going to see breakthroughs in some of those projects that enable yields to be obtained by more regular consumers as central banks do what they believe they need to do to rescue this cascading collapse of the economy,” said Lubin, of ConsenSys (which funds an editorially independent Decrypt), adding, “I think we are going to see people rush into alternatives that will be better for people in terms of preserving their wealth.”
To many privacy professionals, a “user-centered internet for individuals” would only exist in a perfect utopian world. Yet, as the blockchain ecosystem matures, individual control, trust, and security are consistent themes that blockchain and cryptocurrency platforms are attempting to tackle. In the not too distant future, a cryptographically secured digital identity may allow us to “trustlessly” complete transactions that would have previously required the exchange of personal data and layers of verification.
In Manhattan, NYC Mesh put a large antenna on top of a building connected directly to the internet through fiber optic cable. This “supernode,” supported by a network of point-to-point routers that volunteers install on rooftops and windows in the area, provides a fast connection for users in most of downtown. A second supernode is in place in the Brooklyn neighborhood of Bushwick, and two more are planned.