Day: February 2, 2022

Battle for authenticity heats up in world’s most popular NFT collection

In a Discord post published on Wednesday, Matt Hall, the core developer at Larva Labs, the entity behind the popular CryptoPunks V2 and, initially, CryptoPunks V1 nonfungible tokens (NFT) collections, announced he would be “taking appropriate steps” in the following days regarding the alleged copyright infringement of “both the art and the CryptoPunks name” of the CryptoPunks V1 collection. Normally, this would amount to submitting a takedown notice under the Digital Millenium Copyright Act, or DMCA, to the platform responsible for hosting the content for auction. Matt Hall discussing CryptoPunks…

Meta Reports a Loss of $10.2B on Augmented/Virtual Reality Operations in 2021

Meta Platforms (META) reported that it lost $10.2 billion in 2021 on its newly broken out Facebook Reality Labs (FRL) division, which comprises its augmented and virtual reality operations, in its fourth quarter earnings report. Meta announced in the third quarter that it would be breaking out results for the division for the first time to show the performance and investments in a group that it considers key to the next generation of online social experiences. The company even changed its name from Facebook to Meta Platforms to emphasize the…

Meta Reports Loss of $10.2B on Augmented/Virtual Reality Operations in 2021

Overall, Meta reported adjusted Q4 earnings per share of $3.67, falling short of the consensus analyst estimate of $3.85, according to FactSet, while revenue of $33.7 billion was just ahead of the consensus estimate of $33.4 billion. Meta’s guidance for first-quarter 2022 revenue also fell short, coming in at between $27 billion to $29 billion, compared with analysts’ expectations of $30.2 billion. Source

Crypto miner in Texas shuts down 99% of operations as winter storm approaches

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With Winter Storm Landon expected to hit parts of Texas this week, major crypto mining firms are powering down in anticipation of high demands on the state’s power grid. Speaking to Cointelegraph on Wednesday, Riot Blockchain’s communications director Trystine Payfer said that the company’s data center in Rockdale already had “99% of [its] power currently shut off” since beginning curtailments on Tuesday, with demands on the grid expected to peak on Thursday night. In addition, Bitcoin (BTC) mining firms with representation in the Texas Blockchain Council sent a letter to…

Blockchain Bridge Wormhole Suffers Possible Exploit Worth Over $326M

CryptoX – Cryptocurrency Analysis and News Portal The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CryptoX employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.…

Blockchain Bridge Wormhole Suffers Possible Exploit Worth Over $250M

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…

Youtuber and alleged thief publicly refuses to return investors’ funds after $750k rug pull

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On Wednesday, American Youtuber and “internet detective” Coffeezillaa published a recorded interview of himself and disgraced Youtuber Paul “Ice Poseidon” Denino. During the session, Denino allegedly confirmed that he made off with $750 thousand worth of his investors’ money through rug pulling a crypto project dubbed “Cxcoin.” The ordeal started last July, when Denino created the Cxcoin for streamers and content creators on the Binance Smart Chain. Denino then allegedly promoted the coin to his community of followers, telling them that “don’t worry, no rug [pull] here all the money…

Crypto Bounce Pauses on Low Volume

“Since the early November peak, there have been four marked, step-like drops in the crypto market,” FundStrat, a global research firm, wrote in a Wednesday briefing. “After each drop there has been a recovery averaging 8.9% leading into the next drop. A noticeable difference between the current recovery and the previous ones is the volatility,” FundStrat wrote. Source

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Pixel Vault raises $100M for NFT development platform

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Operator-led venture capital firms Velvet Sea Ventures and 01 Advisors invested $100 million into Pixel Vault, a large nonfungible token collection of superheroes, to jointly launch the rebranded multi-franchise nonfungible token (NFT) entertainment company, Pixel Vault Inc.  According to Pixel Vault, the aim of the new venture is to leverage NFTs and intellectual property to tell the stories of crypto-native communities across a variety of mediums, including television, movies and video games. Pixel Vault owns 100% of the IP, assets and operations of PUNKS Comic, MetaHero and all future franchises. Pixel Vault’s…