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<ul><li><keyword id="172599" type="General" weightage="20" keywordseo="ubisoft" source="Orion">Ubisoft</keyword> is doubling down on its crypto ambitions with a new partnership with the <keyword id="13104828" type="General" weightage="20" keywordseo="hedera-network" source="Orion">Hedera network</keyword>.</li><li>The company will be sitting alongside <keyword id="6355629" type="General" weightage="20" keywordseo="google" source="Orion">Google</keyword>, <keyword id="10875" type="General" weightage="20" keywordseo="ibm" source="Orion">IBM</keyword>, <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword>, Tata Communications, LG, and Boeing as part of the Hedera Governing Council.</li><li>The Hedera network’s native cryptocurrency is called HBAR but the platform does not use blockchain technology.</li></ul>A person doesn’t normally put gaming giants in the same bucket as IT enterprise companies like IBM and <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro</a>, but Ubisoft is looking to buck the trend. The gaming giant is doubling down on crypto, despite <a href="https://www.businessinsider.in/investment/news/ubisoft-wont-give-up-on-nfts-despite-criticism-and-having-sold-next-to-none/articleshow/88434743.cms">backlash from gamers</a> for its blockchain ambitions, by partnering with the Hedera network. As a part of the deal between the two, the French gaming company will join Hedera’s Governing Council and operate a node on its <a href="http://coindcx.com">network</a>. The governing council already includes 25 other companies — including Google, Boeing, Tata Communications, Wipro and IBM — but Ubisoft will be the first from the gaming industry. The council also includes one of India’s top engineering colleges, the Indian Institute of Technology (IIT) Madras. To be fair, Hedera isn’t exactly a ‘blockchain’. It uses hashgraph consensus mechanisms to secure and maintain its network, which are different from proof-of-work (PoW) and proof-of-stake (PoS) or even Solana’s proof-of-history (PoH). However, the Hedera network does have its own native token called HBAR. And, with it, come use cases that would fall under the umbrella of Web3, touted to be the next generation of the internet. <cmsannotation type="cmsannotation" annotationid="Hashgraph versus blockchain" comment="subhead" text="Hashgraph versus blockchain">Hashgraph versus blockchain</cmsannotation> As compared to blockchain, hashgraph uses less computation power, and thus, less electricity. It also boasts of speeds and the capability of pushing through up to 500,000 transactions. In comparison, most blockchains platforms are only capable of processing between 100 to 10,000 transactions per second. While the Hedera network is public, the hashgraph technology is patented by a company called Swirlds. The Hedera network has all the features of the hashgraph consensus algorithm albeit with a few tweaks. Nevertheless, maximalists argue that not being open-source defeats the underlying objective of decentralisation, which drives much of the crypto ecosystem. <cmsannotation type="cmsannotation" annotationid="Gamers aren’t on board with Ubisoft’s crypto plans" comment="subhead" text="Gamers aren’t on board with Ubisoft’s crypto plans">Gamers aren’t on board with Ubisoft’s crypto plans</cmsannotation> Ubisoft was the first major gaming company in the world to launch in-game non-fungible tokens (<keyword id="902592" type="General" weightage="20" keywordseo="nfts" source="Orion">NFTs</keyword>) when it announced its plans back in October. The company went on to launch its NFT platform, Ubisoft Quartz, with the game Ghost Recon in December last year. These NFTs, or ‘digits’, are collectible in-game items like vehicles, weapons and pieces of equipment.They have been dubbed ‘limited edition’ items, since there will only be a particular amount of each available item. However, gamers saw this as nothing more than a ploy by Ubisoft to make more money rather than add any value to overall gaming experience — a sentiment pointed out by <a href="https://www.nytimes.com/2022/01/15/technology/cryptocurrency-nft-gamers.html">The New York Times</a> report as well. “To me, this is a sign that the project is literally abusing the Ghost Recon franchise to make a quick buck while putting little effort into the actual game itself,” said one of the top video comments on Ubisoft’s YouTube preview of its NFT project. Ubisoft has nevertheless decided to soldier on with its plans for crypto in the gaming sector unlike its competitor, Vauld, which has taken a hard stance against crypto games getting listed on its gaming platform, Steam. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/el-salvadors-chivo-wallet-is-returning-with-a-new-service-provider/articleshow/89302366.cms">El Salvador’s Chivo wallet is returning with a new service provider</a> <a href="https://www.businessinsider.in/investment/news/crypto-winter-is-coming/slidelist/89298409.cms">I know what you did last crypto winter…</a> <a href="https://www.businessinsider.in/investment/news/nft-sales-hit-7-billion-all-time-high-in-january-but-it-may-just-be-a-bubble-waiting-to-pop/articleshow/89249178.cms">NFT sales hit $7 billion all-time-high in January, but it may just be a bubble waiting to pop</a>

Ubisoft is joining Google, IBM, Wipro, LG and others on Hedera’s governing council as it doubles down on crypto

<ul><li>Gaming giant <keyword id="172599" type="General" weightage="100" keywordseo="ubisoft" source="Orion">Ubisoft</keyword> plans to soldier on with its plans for <keyword id="10879114" type="General" weightage="20" keywordseo="non-fungible-tokens" source="Orion">non-fungible tokens</keyword> (NFTs) despite an unsuccessful start.</li><li>Only around 15 of the NFTs from Ubisoft’s game <keyword id="2112959" type="General" weightage="20" keywordseo="Ghost-Recon" source="Orion">Ghost Recon</keyword> have reportedly been put up for reselling.</li><li>The company’s blockchain technical director, Didier Genevois, blamed the lacklustre response to <keyword id="12792489" type="General" weightage="20" keywordseo="video-game-NFTs" source="Orion">video game NFTs</keyword> being a ‘major change’ that will ‘take time’ for players in an interview with <keyword id="3222457" type="General" weightage="20" keywordseo="Decrypt" source="Orion">Decrypt</keyword>.</li></ul>Ubisoft was the first major gaming company in the world to launch in-game non-fungible tokens (NFTs) and it has no plans of abandoning its mission, despite having ruffled a few feathers. The company launched its <a href="http://coindcx.com">NFT</a> platform, Unisoft Quartz, with the game Ghost Recon The campaign was met with criticism from environmental activists who cited concerns over crypto’s impact on the climate as well as gamers who noted that the in-game NFTs, called ‘Digits’, were nothing more than cosmetic items with unique serial numbers. After the backlash, Ubisoft isn’t quite ready to quit the game. The publisher justified the lacklustre response to its video game NFTs as just a ‘major’ change’ for players to get on board with during a conversation with <a href="https://decrypt.co/88880/after-backlash-ubisoft-calls-gaming-nfts-a-major-change-that-will-take-time">Decrypt.</a> And, as of December 21, Ubisoft is in partnership with Aleph.im to provide decentralised storage of the company’s <keyword id="4668945" type="General" weightage="20" keywordseo="NFT" source="Orion">NFT</keyword> assets. <div type="ExtQuote" text="We know it is a major change that will take time, but will stay true to our three principles." auname="Ubisoft’s blockchain technical director, Didier Genevois, told Decrypt. The three principles are ‘use technology responsibly’, ‘build a safe environment’ and ‘only leverage energy-efficient proof-of stake blockchains’."></div> <cmsannotation type="cmsannotation" annotationid="In-game NFTs" comment="subhead" text="In-game NFTs">In-game NFTs</cmsannotation> On December 21, Liz Edwards, the senior character artist for the game Apex Legends, noted that the French gaming major, Ubisoft, <a href="https://www.engadget.com/ubisoft-nft-quartz-ghost-recon-blockchain-140720063.html">had sold</a> only 15 of its Ghost Recon NFTs since launch. <div type="twitter" handle="lizaledwards" handlename="Liz Edwards" image="http://pbs.twimg.com/profile_images/1455675887353954305/ruX6YieP_normal.jpg" favoritecount="4979" retweetcount="649" status="how are the ghost recon NFTs doing? I looked at the 2 3rd party marketplaces the Quartz site links and there seems… https://t.co/0cvlvvb9ZR" createdat="1639972787000" id="1472778732578299912"></div> However, Ubisoft isn’t the only company that has seen value in deploying NFTs in games. In November, Electronic Arts told investors that it sees value in this technology. "[Players] want more modalities at play inside the game, which go beyond just straight 11-on-11 football," Andrew Wilson, chief executive office (CEO) of EA, <a href="https://www.bbc.com/news/technology-59167668">said</a> during an earnings call. "They want more digital experiences outside the game - esports, NFTs, broader sports consumption and they want us to move really, really quickly,” he added. The company behind games like Assassin’s Creed, Ghost Recon and more had launched the Ubisoft Quartz NFT platform earlier this month. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/terra-is-the-second-biggest-defi-player-in-the-crypto-market-but-it-may-be-overvalued/articleshow/88412814.cms">Terra is the second biggest DeFi player in the crypto market — but it may be overvalued</a>

Ubisoft is doubling down on NFTs with decentralised storage despite severe criticism

<ul class="summary-list"><li><keyword id="12690798" type="UNKNOWN" weightage="60" keywordseo="ubisoft" source="Orion">Ubisoft</keyword> said it is releasing the first playable, energy-efficient <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> in a video game.</li><li>PC players will have access to the NFTs, called Digits, this week when Ubisoft begins beta testing with Ghost Recon: Breakpoint.</li></ul>Ubisoft is breaking ground in the video game industry with the first-ever playable NFTs that users can collect and apply as in-game cosmetics. The gaming giant <a href="https://quartz.ubisoft.com/welcome/">announced</a> the new feature Tuesday, and said the NFTs, which Ubisoft calls Digits, will be the first non-fungible tokens "playable in an AAA game." On December 9, Ubisoft will beta launch its Digits for the PC version of "Tom Clancy's Ghost Recon: Breakpoint."To manage and distribute its playable NFTs, the company will launch Ubisoft Quartz. Players can acquire Digits on Ubisoft Quarts and then use them in <keyword id="11930905" type="UNKNOWN" weightage="60" keywordseo="video-games" source="Orion">video games</keyword> in various ways. Digits can be video game helmets, pants, guns — all with unique serial numbers. Digits, according to the publisher, will be released in limited editions and each will be tied to the player names of all its previous and current owners. Owners will be able to sell these cosmetic gaming items on third-party marketplaces for cryptocurrency.As part of the announcement, Ubisoft also said it wants the NFTs exclusively for Ubisoft players. To qualify, users must have reached a certain level in the "Ghost Recon" video game. To acquire the NFT pants, for example, players must have played at least 100 hours."The idea is to focus on our most engaged players with this first batch," said Ubisoft's Blockchain Business and Product Director, Baptiste Chardon. Rather than a Proof-of-Work protocol, which bitcoin uses, Ubisoft's Digits are stored on the Proof-of-Stake blockchain Tezos. This is a more <a href="https://quartz.ubisoft.com/faq/technology/what-technology-powers-ubisoft-quartz">environmentally-friendly alternative for NFTs</a>, according to the company. Ubisoft reported $2.5 billion in revenues in its most recent fiscal year.

Ubisoft becomes the first major video game developer to launch in-game NFTs

<ul class="summary-list"><li>Video game publisher GSC Game World has yanked plans to launch NFTs for its S.T.A.L.K.E.R. 2 title. </li><li>The company reversed course after receiving backlash from gaming fans. </li></ul>GSC Game World has pulled its plan to create non-fungible tokens for its S.T.A.L.K.E.R. 2 video game, responding to heavy pushback by gaming fans. The Ukrainian video game developer had planned to partner with DMarket to launch NFTs for its "S.T.A.L.K.E.R. <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">Metaverse</keyword>" title, saying in a press release this week it would use blockchain technology to let the community own a piece of "S.T.A.L.K.E.R. 2." The plan included the game having its own "metaverse" in which players can move as a "metahuman" with an <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> in the form of a non-player character, or NPC. But the company eventually stepped away from its plans. "We hear you," wrote GSC Game World, in a <a href="https://twitter.com/stalker_thegame?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1471620399997886472%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.ign.com%2Farticles%2Fstalker-2-nfts-response">post on its Twitter account</a>. "Based on the feedback we received, we've made a decision to cancel anything NFT-related in STALKER 2," it said, adding that the interest of its fans and players is its priority. Gamers in social media platforms such as the <a href="https://www.reddit.com/r/stalker/">Stalker subreddit </a>and on gaming-news platforms pushed back on GSC's plan as well as on NFTs created for games in general. They cited issues like environmental concerns related to mining digital tokens tied to NFTs and the notion of creating value out of artificial scarcity. The controversy follows <a href="https://markets.businessinsider.com/news/currencies/ubisoft-nfts-video-game-major-company-tom-clancy-ghost-recon-2021-12">gaming giant Ubisoft's</a> announcement earlier this month to create the first-ever playable NFTs that users can collect and apply as in-game cosmetics. But it, too, quickly received backlash from gamers.For its part, GSC initially touted its NFT plan as a way to "give certain fans an opportunity to get into the game without interfering with other players' experience," according to <a href="https://www.ign.com/articles/stalker-2-nfts-response?utm_source=twitter">a previous statement</a> that was reportedly deleted. GSC continued: "That's why the tokens are entirely optional and have no impact on gameplay or story (no weapons, quests, locations, etc) and can be activated only before the game release [date]."

The maker of a popular video game series is dropping plans for NFTs after outcry from fans

<ul class="summary-list"><li><a href="https://affiliate.insider.com?postID=638fac36186a0b25e9553f99&amp;site=in&amp;u=https%3A%2F%2Ftv.apple.com%2Fus%2Fshow%2Fmythic-quest%2Fumc.cmc.1nfdfd5zlk05fo1bwwetzldy3" target="_blank" rel="nofollow noopener sponsored">"Mythic Quest"</a> season three tackles the controversial subject of NFTs in the video game world. </li><li>Several characters launch an NFT project much to the chagrin of its players. </li></ul>In its third season, the Apple TV+ video game workplace comedy series "Mythic Quest" tackles one of the gaming industry's most controversial topics: NFTs. NFTs — <a href="https://www.businessinsider.com/personal-finance/nft-meaning">non-fungible tokens</a>, digital assets recorded and stored on the blockchain — are collectibles that in some cases have been sold for millions, <a href="https://www.businessinsider.com/personal-finance/nft-meaning">Insider previously reported</a>. While they're a hot topic in the art world, NFTs have been introduced in the form of in-game cosmetics, as in <a href="https://www.cnbc.com/2021/12/20/cash-grab-or-innovation-the-video-game-world-is-divided-over-nfts.html">Ubisoft's "Ghost Recon Breakpoint,"</a> or as digital assets bundled with real-world action figures, like those <a href="https://www.theverge.com/2022/7/20/23271832/square-enix-nft-final-fantasy-vii-enjin-blockchain">Square Enix announced in June. </a>NFTs have generated backlash due to their environmental impact: per <a href="https://www.nytimes.com/2021/04/13/climate/nft-climate-change.html">the New York Times</a> — the average NFT generates as much carbon as a 500-mile car drive — and the <a href="https://spectrum.ieee.org/non-fungible-tokens-gaming?utm_campaign=post-teaser&amp;utm_content=3jvrh6o8">general sense that the whole thing is one big grift.</a> NFT announcements in the gaming world tend to draw strong negative reactions, and yet company leaders continue pushing them. That tension is exactly what "Mythic Quest" tackles in season three. <h2>'Mythic Quest' frames an NFT initiative as a shameless cash grab</h2>In season three of the show, Carol (Naomi Ekperigin), the Head of HR-turned-underfunded Head of Diversity and Inclusion (HODI) at Mythic Quest (the game), turns to Brad (Danny Pudi), the game's former Head of Monetization, to help her generate cash for the game so that she can bring new faces into the company and effect change. <div type="image" title="naomi ekperigin in mythic quest as carol. she's wearing a blue, long-sleeve blouse, her hair styled straight to lay over her shoulders. she's smiling in a warmly lit room while sitting at her desk, a macbook open in front of her" height="1915" width="2554" msid="96063596" hostid="261"></div>Their answer? Launching NFTs, much to the horror of the game's ineffably cheerful community manager Sue Gorgon (Caitlin McGee), who's responsible for interfacing with players online. "NFT, huh?" Gorgon says. "Hey, I got an NFT for ya. No fuckin' thanks."When Carol and Brad's plan generates plenty of hate but not nearly enough revenue, they enlist former quality tester Rachel (Ashly Burch) for her insight into players given that she is one. The walls come crashing down when executive producer David Brittlesbee (David Hornsby) receives a call from the company's bosses in Montréal who demand to know who's responsible for the project. Carol takes responsibility, thinking she's going to be fired, and instead gets promoted to the Director of Unexplored Development Initiatives — a position with stock options and, more importantly, a hiring budget. <h2>Producers saw the inherent humor in an NFT storyline</h2>"Mythic Quest's" NFT storyline derives its humor from both the contorted premise — Carol and Brad overtaxing the game's art team and circumventing its executive producer in the name of getting her the money the studio can't in the name of diversity — and the innate humor of NFTs themselves. Jason Altman, the Head of Film and Television at Ubisoft and an executive producer on "Mythic Quest," told Insider that each year, the writers' room sits down to chat through industry topics. Ultimately, he said that the "real ethos is that everything is on the table," whether or not it concerns or accidentally lampoons Ubisoft itself in the process.When it came to NFTs, they were a topical concern. More importantly, they were funny. "Because it is so controversial and because it's also difficult to understand, it is a gold mine for comedy," Altman said. "That was our thinking." <div type="image" title="ashly burch and danny pudi as rachel and brad in mythic quest. they're standing in a dimly lit room with some computers and desks in it, looking at each other intently. ashly is wearing a black shirt and overalls, her hair in pigtails. danny is in a beige janitorial jumpsuit" height="1915" width="2554" msid="96063598" hostid="261"></div>Ubisoft itself has tangled with NFTs in the past. The developer announced in December 2021 that it was <a href="https://www.polygon.com/22822364/nft-video-games-ubisoft-ghost-recon-breakpoint-free">venturing into NFTs</a>, initially introducing them as in-game cosmetic options — similar to what Ashly proposes in "Mythic Quest" — in "Tom Clancy's Ghost Recon Breakpoint." The backlash was swift, with one video that announced the launch on YouTube receiving 31,000 dislikes, <a href="https://www.pcgamer.com/ubisoft-de-lists-overwhelmingly-disliked-nft-announcement-video/">PC Gamer reported</a>. David Hornsby, an executive producer on the show in addition to playing the beleaguered Brittlesbee, told Insider that the show isn't "putting Ubisoft on blast," but rather trying to reflect "the reality of the situation" on the show. "They're only discussions if, 'Hey, what happens with this type of thing? What's the fan reaction if they're just giving us information?'" Hornsby told Insider. "I mean, they wanna portray the video game industry as it is as well. So it's nothing like a personal, 'Well, we'd appreciate if you'd not.'"Ekperigin, who's also in the writers' room in season three, said that the team leaned on the developer to gauge whether NFTs were "really as dark" as they thought. Still, she felt like they "had" to touch on them, even if she worried that they may miss the moment. "Sometimes when you touch on something that's happening, you think, 'Uh oh, what if this is now dated by the time this comes out?'" Ekperigin told Insider. "Nope, not at all."

'Mythic Quest' season 3 tackles the real-world controversy of video game NFTs: 'it is a gold mine for comedy'

<ul><li><keyword id="399907" type="General" weightage="100" keywordseo="meta" source="Orion">Meta</keyword>’s annual SEC filing says that the Novi wallet and more may still use blockchain-based payments.</li><li>Stablecoins like USDC might be used for payments on Meta’s future products.</li><li>Meta’s metaverse platforms are also supposed to incorporate <keyword id="902592" type="General" weightage="20" keywordseo="NFTs" source="Orion">NFTs</keyword>.</li></ul>Meta’s cryptocurrency project <keyword id="1766708" type="General" weightage="20" keywordseo="diem" source="Orion">Diem</keyword> is <a href="https://markets.businessinsider.com/news/currencies/facebook-diem-association-mark-zuckerberg-silvergate-stablecoin-libra-meta-sale-2022-2">in the ground</a> and its intellectual property has been sold. But CEO <keyword id="6354630" type="General" weightage="20" keywordseo="mark-zuckerberg" source="Orion">Mark Zuckerberg</keyword> isn't quite done with blockchain-based payments just yet. In its annual 10-K filing with the US Securities and Exchange Commission (<a href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001326801/14039b47-2e2f-4054-9dc5-71bcc7cf01ce.pdf">SEC</a>), Meta highlighted that future initiatives like the Novi digital wallet might use “blockchain-based assets” like the stablecoin USDP, which is issued by the Paxos Trust Company. Further, the company said that its future initiative “to support commerce in the metaverse” may use <a href="http://coindcx.com">blockchain-based</a> assets in digital payments. <div type="ExtQuote" text="“Use of blockchain-based assets in payments are a relatively new and unproven technology, and the laws and regulations surrounding them are uncertain and evolving,”" auname="Excerpt from Meta’s SEC filing"></div> <cmsannotation type="cmsannotation" annotationid="Meta knows it’s going to be a bumpy ride" comment="subhead" text="Meta knows it’s going to be a bumpy ride">Meta knows it’s going to be a bumpy ride</cmsannotation> When Diem was killed, many wondered what digital payment mechanisms Meta would use for its future virtual platforms. In October, while rebranding <keyword id="6354576" type="General" weightage="20" keywordseo="facebook" source="Orion">Facebook</keyword> to Meta, Zuckerberg had said that the company would be pumping in significant resources into Oculus and future metaverse platforms. He even showcased meeting rooms, games and more that were designed for these virtual spaces. In its SEC filing, Meta noted that the company expects scrutiny from governments and regulators for its future digital payments systems. This, along with how the market accepts these new payments systems, means that Meta is uncertain about whether its future payments systems will be launched in time, or even if they will be launched at all. The company said that it is “participating in responses” to government inquiries relating to its digital payments and said that adverse actions from regulators and governments could “harm” its business. <cmsannotation type="cmsannotation" annotationid="Government acceptance is a key" comment="subhead" text="Government acceptance is a key">Government acceptance is a key</cmsannotation> The SEC filing, which comes days after Meta reported <a href="https://www.businessinsider.in/stock-market/news/meta-platforms-stock-suffered-a-historic-rout-but-that-doesnt-derail-the-metaverse-industrys-mega-growth-potential-say-2-experts/articleshow/89369676.cms">lacklustre results</a> for the fourth quarter of 2021, also reiterated some of the concerns Zuckerberg had highlighted during the company’s earnings call earlier this month. Meta stated that Facebook’s user growth in countries like India had been <a href="https://www.businessinsider.in/tech/enterprise/news/facebook-reported-decline-in-daily-active-users-for-first-time/articleshow/89314035.cms">limited</a> by growing data prices of prepaid mobile plans. However, a drop in daily active users from the US was seen as well. Overall, Zuckerberg pointed the finger at <keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword>’s new App Tracking Transparency rules for the dip. According to him, since the new rules block companies from tracking user activity across the Internet, it affected Facebook’s ability to target ads online. In his October address, Zuckerberg had indirectly postulated that one of the reasons for Meta’s focus on the metaverse was to get out from under companies like Apple’s rules. “The metaverse will not be created by one company. It will be built by creators and developers making new experiences and digital items that are interoperable and unlock a massively larger creative economy than the one constrained by today’s platforms and their policies,” he <a href="https://about.fb.com/news/2021/10/founders-letter/">said in a letter</a> at the time. This means, Diem or not, digital payments in the metaverse will be an integral part of Meta’s future products. The company has also been exploring non-fungible tokens (NFTs) through platforms like Instagram, which gives it even more onus to incorporate blockchain-based payments into its future products. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/defi-aaves-web3-social-media-network-live-on-polygon-will-take-on-facebook-and-twitter/articleshow/89429671.cms">Aave's Web3 social network plans to take on Facebook and Twitter by giving users control</a> <a href="https://www.businessinsider.in/investment/news/sundar-pichai-pegs-googles-web3-ambitions-to-the-cloud/articleshow/89409184.cms">Sundar Pichai pegs Google’s Web3 ambitions to the cloud</a> <a href="https://www.businessinsider.in/investment/news/ubisoft-is-joining-google-ibm-wipro-lg-and-others-on-hederas-governing-council-as-it-doubles-down-on-crypto/articleshow/89349706.cms">Ubisoft is joining Google, IBM, Wipro, LG and others on Hedera’s governing council as it doubles down on crypto</a>

Meta is done with Diem, but not with blockchain payments

<ul class="summary-list"><li><keyword id="12110917" type="UNKNOWN" weightage="60" keywordseo="white-castle" source="Orion">White Castle</keyword> announced on Twitter it registered a new domain name with the Ethereum Name Service: "whitecastleofficial.eth."</li><li>The restaurant chain also changed its Twitter profile to a "Seahams" NFT. </li></ul>The list of name brands getting into <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> grows. Fast food chain White Castle announced on <a href="https://twitter.com/WhiteCastle/status/1469034170357854217?s=20">Twitter</a> that it registered a domain name with the Ethereum Name Service (ENS): "whitecastleofficial.eth," becoming the latest brand-name entrant to the crypto world.Similar to an internet domain name, an ENS allows people to link crypto wallets or other Web3-related information on the Ethereum blockchain. Users can buy private domains that can replace alphanumeric wallet addresses with a name that is easier to remember or share.On Twitter, the century-old fast food chain also changed its profile picture to a "Seahams" NFT. This year, brand names from <a href="https://markets.businessinsider.com/news/currencies/luxury-nfts-metaverse-56-billion-market-revenue-2030-morgan-stanley-2021-11">Gucci</a> to <a href="https://cointelegraph.com/news/coca-cola-officially-gets-into-nfts-for-charity">Coca-Cola</a> to <a href="https://markets.businessinsider.com/news/currencies/ubisoft-nfts-video-game-major-company-tom-clancy-ghost-recon-2021-12">Ubisoft</a> have placed bets on <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> and the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword>. Investment bank Jefferies predicts <a href="https://markets.businessinsider.com/news/stocks/metaverse-investing-wall-street-jefferies-land-sales-sandbox-crypto-nfts-2021-12">the metaverse will be the biggest disruption to how we live ever seen</a>, and institutions and retail traders alike have shown their excitement. Last week alone, <a href="https://markets.businessinsider.com/news/currencies/5-best-selling-nft-collections-sales-hit-293-million-2021-12">NFT sales hit $293 million</a>. Shortly after White Castle announced its entry into crypto, Brantly Millegan, director of operations at ENS, <a href="https://twitter.com/BrantlyMillegan/status/1469059197660766217">tweeted out his surprise</a> — adding that he would go buy some White Castle as soon as possible.

White Castle enters the crypto space with ethereum domain name and NFT

<ul class="summary-list"><li><keyword id="11930688" type="UNKNOWN" weightage="60" keywordseo="ftx" source="Orion">FTX</keyword>'s US arm introduced a $500 fee for users wanting to mint and launch their own NFTs on its digital art marketplace.</li><li>Not long after launching, the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> exchange's <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> marketplace was inundated with people posting images of fish.</li><li><keyword id="11930691" type="UNKNOWN" weightage="60" keywordseo="sam-bankman-fried" source="Orion">Sam Bankman-Fried</keyword> later retraced his decision, saying it would cost $10 to mint an NFT.</li></ul>Crypto exchange FTX started charging a $500 fee for people to mint their own non-fungible token on its newly launched native <a href="https://twitter.com/FTX_Official/status/1434755016246452233">NFT marketplace,</a> after being swamped with items including a surfeit of <a href="https://twitter.com/ColdBloodShill/status/1434862797909803014">pictures of fish</a>.The company <a href="https://twitter.com/FTX_Official/status/1434755016246452233">opened</a> the marketplace Monday to allow people to create, display and sell their works directly on the US exchange, as interest in the digital collectibles continues to surge."Make your own NFTs," Sam Bankman-Fried, founder and CEO of FTX, <a href="https://twitter.com/SBF_FTX/status/1434750019123523584">tweeted</a>. But within hours, the FTX boss returned to Twitter to say the company has brought in a one-time fee of $500 after receiving a flood of items."Due to the massive number of submissions, too many of which were just a picture of a fish, we are now charging a one-time $500 fee to submit NFTs," Bankman-Fried <a href="https://twitter.com/SBF_FTX/status/1434861452469456896">wrote</a>. "Hopefully this will reduce spam."But he rewound that decision too, making another attempt to enable affordable NFTs."Now, it costs a flat $10 per NFT to mint them, no up-front cost. We're refunding all the $500's paid. Hopefully this reduces (fish-related) spam while also making it affordable," he <a href="https://twitter.com/SBF_FTX/status/1434895787167731712">said</a>.For his part, Bankman-Fried's submission - made to demonstrate the new feature - was an image of words that simply reads: "<a href="https://ftx.us/nfts/token/291222296035270197">Text</a>." As of 8:40 a.m. ET on Monday, its highest bid stood at $1,500, with only 16 hours to go.Users don't have to be in the US to use the marketplace, the crypto exchange <a href="https://twitter.com/FTX_Official/status/1434755326708883459">said</a>. Currently, people can only store and view the NFTs on the exchange. But the marketplace will <a href="https://twitter.com/SBF_FTX/status/1434750019123523584">support</a> deposits and withdrawals within the coming weeks.In his tweets, the FTX boss noted that payments for the NFTs will be cross-chain enabled between <a href="https://markets.businessinsider.com/currencies/eth-usd">ethereum</a> and <keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">solana</keyword>. This means the platform will allow trading of tokens across both blockchains, done using smart contracts or applications that can connect with two different chains.Most NFTs so far have been encoded on the <a href="https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq">ethereum</a> blockchain. By storing the NFT as information on a blockchain, it becomes near impossible to edit or remove it, making it a permanent record of the owner's purchase.With the move, FTX becomes the latest crypto exchange to move into NFT marketplaces. Binance launched its own <a href="https://markets.businessinsider.com/news/currencies/binance-nft-launch-sales-trading-digital-artwork-non-fungible-tokens-2021-4">NFT marketplace</a> in April, while <a href="https://www.okex.com/academy/en/nft-marketplace-guide">OKEx</a> launched one more recently in September.NFTs have steadily become more mainstream as their value is realized in the broader market, and this trend is expected to continue. NFT sales volumes surged 200% to <a href="https://markets.businessinsider.com/news/currencies/nft-value-sales-h1-dappradar-nonfungible-tokens-crypto-hype-2021-7">$2.5 billion</a> in the first half of 2021, according to data from DappRadar.Bankman-Fried <a href="https://markets.businessinsider.com/news/currencies/non-fungible-tokens-nfts-mainstream-buyers-popularity-sam-bankman-fried-2021-8">told CNBC</a> last month that the tokens have become popular faster than people have understood them, and that many don't know what the future for the assets looks like.A range of big players - from artists to DJs, to massive brands like Marvel, Ubisoft, Faze Clan, and Topps - are involved in building NFT projects and strategies. They are using NFT platforms such as OpenSea, Rarible, Autograph, RTFKT and Dapper Labs to accomplish their goals, Ivan Soto-Wright, founder and CEO of crypto payments infrastructure firm MoonPay, told Insider. Soto-Wright said he fully anticipates NFTs to develop further beyond digital, and into real-life use cases such as providing proof of ownership for properties and tickets for events.Read More: <a href="https://www.businessinsider.com/eth-price-prediction-target-crypto-outlook-ether-bitcoin-commodity-strategist-2021-9" target="_blank" rel="noopener noreferrer">A senior commodity strategist lays out the increasingly bullish signs that point towards ether hitting $5,000 - and why this gives him confidence in bitcoin reaching $100,000</a>

Crypto exchange FTX quickly starts charging users $500 to mint their own NFTs after being spammed with images of fish

<ul class="summary-list"><li>In late October, <keyword id="6354576" type="General" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> made a huge announcement: It was <a href="https://www.businessinsider.com/facebook-new-name-meta-rebrand-metaverse-zuckerberg-apps-2021-10">changing the company name</a> to "<keyword id="399907" type="General" weightage="60" keywordseo="meta" source="Orion">Meta</keyword>."</li><li>The reason, according to CEO <keyword id="6354630" type="General" weightage="60" keywordseo="mark-zuckerberg" source="Orion">Mark Zuckerberg</keyword>, was to refocus the company around "<keyword id="12521699" type="General" weightage="60" keywordseo="the-metaverse" source="Orion">the metaverse</keyword>."</li></ul>Late last October, Facebook cofounder and CEO Mark Zuckerberg made a huge announcement: Going forward, <a href="https://www.businessinsider.com/facebook-new-name-meta-rebrand-metaverse-zuckerberg-apps-2021-10">the company would be known as "Meta."</a> That parent company would still encompass the same portfolio of brands that it did before: Facebook, Whatsapp, Instagram, and Oculus, albeit with a new intent: "to help bring the metaverse to life," he said. It was Zuckerberg sticking a stake in the ground: He believes in the "metaverse" concept so much that he's betting the company on it. That move had major repercussions. In the months since, hype for "the metaverse" and its corollaries — NFTs, blockchain technology, cryptocurrency, and other <a href="https://www.businessinsider.com/what-is-web3-internet-blockchain-cryptocurrency-web1-web2-future-2021-12">so-called "Web3" concepts</a> — has skyrocketed. First, it was the analysts. The metaverse has, "the potential to disrupt almost everything in human life," analysts at Jefferies, led by equity strategist Simon Powell, <a href="https://markets.businessinsider.com/news/stocks/metaverse-investing-wall-street-jefferies-land-sales-sandbox-crypto-nfts-2021-12">said in a December note</a>. Bloomberg Intelligence <a href="https://www.bloomberg.com/professional/blog/metaverse-may-be-800-billion-market-next-tech-platform/">described the metaverse as</a> an "$800 billion market opportunity." Then came the big publicly-traded video game publishers. Major <keyword id="6357332" type="General" weightage="60" keywordseo="gaming" source="Orion">gaming</keyword> companies, including "Assassin's Creed" maker Ubisoft and "Final Fantasy" maker Square Enix, have announced new Web3 initiatives: The former introduced NFTs and a crypto-based payment system, while the latter <a href="https://www.hd.square-enix.com/eng/news/2022/html/a_new_years_letter_from_the_president_2.html">declared 2021 to be</a> "the metaverse year" and announced a big push into the emerging sector in 2022. They were all following Zuckerberg's lead. He's repeatedly claimed that the metaverse is the successor to the current mobile internet, and he wants to make sure that Meta is a major player in whatever comes next. In the October video presentation introducing Meta, Zuckerberg also demonstrated what the future metaverse might look like and how it could work. The video depicted a world where people jump in and out of a 3D virtual space, like those in "The Matrix" and "Ready Player One." <div type="image" title="An image of &quot;the metaverse&quot; depicted in an October 2021 video from Facebook parent company Meta." height="913" width="1920" msid="88794455" hostid="261"></div>The digital space was made by "a creator I met in LA," one of the floating avatars tells Zuckerberg. At one point during the conversation, Zuckerberg's avatar pulls up a digital, 2D video chat to connect to a friend who was supposed to join them. She's out in the real world, being a person, and unable to join, but she wanted to show off a piece of AR art she's seen IRL. The whole thing seems like it could've happened over FaceTime or Zoom or any various pieces of technology we already use. Some avatars look realistic to the person they represent, while others are total abstractions (like the large robot seen above). Rather than participating in a game, everyone is essentially hanging out in a three-dimensional chat room — something more akin to "Second Life" or PlayStation Home than, say, "Fortnite." It's unclear how anyone in the demo is connecting to the space, or interacting with it, but it appears to be VR headsets — a crucial component of Zuckerberg's vision for the metaverse that also serves as a business opportunity given <a href="https://markets.businessinsider.com/news/stocks/meta-stock-price-oculus-app-tops-apple-app-store-christmas-2021-12">Meta's success with the Oculus Quest line of VR headsets</a>. In one sense, it's a vision of a future world that takes many long-existing concepts, like shared online worlds and digital avatars, and combines them with recently emerging trends, like digital art ownership through NFT technology and digital "tipping" for creators. In another sense, it's a vision that takes our existing reality — where you can already hang out in 2D or 3D virtual chat rooms with friends who are or are not using VR headsets — and tacks on more opportunities for monetization and advertising. Someone's going to sell the hardware to access this future, and someone's going to create the software that popularizes it, and Zuckerberg is making it clear that he wants Meta to be a leader on both fronts. It's no surprise, then, that the gold rush is on from investors and companies in the tech world: Meta's video, and Zuckerberg's commitment to "the metaverse," successfully convinced them that it's the next golden goose. Got a tip? Contact Insider senior correspondent Ben Gilbert via email (<a href="mailto:bgilbert@insider.com">bgilbert@insider.com</a>), or Twitter DM (<a href="https://twitter.com/RealBenGilbert">@realbengilbert</a>). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.

Mark Zuckerberg is creating a future that looks like a worse version of the world we already have

Welcome to <keyword id="11937554" type="UNKNOWN" weightage="60" keywordseo="10-things" source="Orion">10 Things</keyword> Before the Opening Bell.If this was forwarded to you, <a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">sign up here.</a> Plus, download Insider's app for news on the go – <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8">click here for iOS</a> and<a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider"> here for Android</a>.Let's jump in. 1. Experts sound off on the metaverse as the virtual land rush heats up. Swelling valuations of virtual plots of land reflect big plans for the metaverse, and one exec <a href="https://markets.businessinsider.com/news/currencies/metaverse-land-sales-valuations-republic-realm-metaverse-group-crypto-2021-12">likened it to "buying on 5th Avenue back in the 1800s."</a> <a href="https://markets.businessinsider.com/news/currencies/cryptocurrency-predictions-2022-metaverse-nft-bitcoin-ether-gaming-cbdc-hack-2021-12">Experts have major predictions for the sector.</a> The CEO of crypto startup Meow says a major company could declare their official headquarters to be on a metaverse. The chief revenue officer of a DeFi platform predicts most people will operate day-to-day jobs partially in the metaverse.A co-founder of The Sandbox — a blockchain-based decentralized metaverse — told Insider <a href="https://markets.businessinsider.com/news/stocks/metaverse-the-sandbox-virtual-world-land-sales-decentraland-nfts-crypto-2021-12">the metaverse will usher in a whole new economy</a>, driven by huge property transactions. The "sand" cryptocurrency used on the platform is up 9,000% on the year.Here's a few of the recent splashes from across the virtual world:<ul><li>The priciest land deal so far is Republic Realm's <a href="https://markets.businessinsider.com/news/currencies/metaverse-property-sandbox-virtual-real-estate-deal-record-4-million-2021-11?utm_medium=ingest&amp;utm_source=markets">$4.3 million purchase in The Sandbox metaverse last month</a>.</li><li>A music service whose crypto token has shot up 932% this year <a href="https://markets.businessinsider.com/news/currencies/audius-nft-radio-station-token-defi-gaming-music-streaming-service-2021-12">is putting an FM radio tower on a DeFi gaming platform</a>.</li><li>Ubisoft launched in-game NFTs — <a href="https://markets.businessinsider.com/news/currencies/ubisoft-nfts-video-game-major-company-tom-clancy-ghost-recon-2021-12">the first playable, energy-efficient NFTs in a game produced by a major developer</a></li></ul>2. Stocks are upbeat as focus turns to the Fed in a week of central bank meetings. Investors expect Powell &amp; Co. to bring in a faster pace of tapering Wednesday, to lead out a policy decisions from Europe, the UK and Japan. <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-fed-reserve-december-policy-decision-inflation-omicron-2021-12">Here are the latest moves on the market</a>.3. Tyler Hobbs' Fidenza NFT collection notched over $177 million in secondary sales from buyers, including Snoop Dogg. The former software engineer turned generative artist employs algorithms to create his masterpieces for the blockchain. <a href="https://www.businessinsider.com/crypto-ethereum-how-to-make-nft-art-fidenza-tyler-hobbs-2021-12">He broke down his creation process, and shared how he values his artwork.</a>4. On the docket: Claros Mortgage Trust, Toell Co, and Fit Inc, all <a href="https://markets.businessinsider.com/earnings-calendar">reporting.</a>5. A dot-com style unwind of big tech stocks will follow a Fed rate hike, according to Bank of America. BofA's Michael Hartnett expects interest rates to rise by 0.50% in March 2022, ahead of consensus — <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sell-dot-com-bubble-unwind-rate-hikes-2021-12">the bank warned investors should sell now before the looming crash.</a>6. Crypto firms have reportedly spent $5 million lobbying US legislators in the first three quarters of 2021. The lobbying blitz, per the Economist, has arrived ahead of potential regulations for the cryptocurrency market, <a href="https://markets.businessinsider.com/news/currencies/crypto-companies-lobbying-congress-regulation-cryptocurrency-2021-12">which now has a market valuation of over $2.2 trillion.</a>7. Young investors are putting their portfolio performance over their well-being. A new survey found that millennial and Gen Z investors will make risky investments even if it takes a toll on their mental health. <a href="https://markets.businessinsider.com/news/stocks/gen-z-millennial-investors-risk-tolerance-stocks-retail-traders-covid-2021-12">Here's what experts had to say about the study.</a>8. Forget gift cards — consider buying someone a unique piece of digital art. An NFT could be both valuable and sentimental, said Kosala Hemachandra, the cofounder of MyEtherWaller. <a href="https://markets.businessinsider.com/news/currencies/how-to-give-someone-an-nft-crypto-for-holidays-christmas-2021-12">Here's how to buy someone an NFT this holiday season. </a>9. JPMorgan <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> guru Marko Kolanovic shared his 20 global ideas for investors to maximize returns in 2022. The firm's quant-research chief remains bullish on stocks going into the new year, especially those outside the US. Kolanovic shared why he expects a "risk on" year — <a href="https://www.businessinsider.com/stocks-to-buy-investing-strategy-jpmorgan-jpm-marko-kolanovic-quant-2021-12">and why he thinks "pandemic winners" will fade. </a>10. A former top trading Citigroup exec explained why he left Wall Street to start his own crypto firm. Having already raised $1.5 billion for his crypto venture, Matt Zhang is seeking to build a "start-t0-finish-capital solution." He explained what sets his firm apart from others <a href="https://www.businessinsider.com/crypto-investing-strategies-citigroup-trading-executive-gamefi-staking-hivemind-capital-2021-12">and broke down the four strategies his firm will pursue.</a>Compiled by Phil Rosen. Feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here</a>.

10 things before the opening bell

<ul><li>Block, formerly known as Square, CEO <keyword id="265395" type="General" weightage="20" keywordseo="jack-dorsey" source="Orion">Jack Dorsey</keyword>, is unfollowing venture capitalists on Twitter.</li><li>This comes after he pointed the finger at VCs and LPs for being the real powers that control <keyword id="12465420" type="General" weightage="20" keywordseo="web3" source="Orion">Web3</keyword> since they’re the ones pumping money into startups working on decentralised solutions.</li><li>This is not the first time that Dorsey has gone on a unfollowing frenzy on Twitter over a difference in opinion.</li></ul>Jack Dorsey has been on a roll this past month from quitting Twitter to renaming Square. And, now he’s brewing up a storm over <a href="http://coindcx.com">Web3</a>, the so-called next-generation of the internet. <div type="twitter" handle="jack" handlename="jack⚡️" image="http://pbs.twimg.com/profile_images/1115644092329758721/AFjOr-K8_normal.jpg" favoritecount="23815" retweetcount="2267" status="The VCs are the problem*not the people" createdat="1640146378000" id="1473506824741601288"></div> After slamming venture capitalists for hindering the vision of a truly decentralised internet, the Block CEO has gone on an unfollowing spree. This includes Marc Andreessen — the co-founder of the firm Andreessen Horowitz, which has invested in blockchain startups the play-to-earn (P2E) game Axie Infinity — Coinbase CEO Brain Armstrong, and crypto exchange Gemini co-founder <keyword id="12801844" type="General" weightage="20" keywordseo="tyler-winklewoss" source="Orion">Tyler Winklewoss</keyword>. <div type="twitter" handle="jack" handlename="jack⚡️" image="http://pbs.twimg.com/profile_images/1115644092329758721/AFjOr-K8_normal.jpg" favoritecount="5296" retweetcount="411" status="this mission statement has always felt so…dark https://t.co/82hFvTd7fO" createdat="1640216754000" id="1473802006355582977"></div> Other people that were unfollowed include FraxFinance’s Sam Kazemian, technology reporter Sam Biddle. But, not everyone took it lightly. Andreessen responded by blocking Dorsey altogether. <div type="twitter" handle="jack" handlename="jack⚡️" image="http://pbs.twimg.com/profile_images/1115644092329758721/AFjOr-K8_normal.jpg" favoritecount="43837" retweetcount="3678" status="I’m officially banned from web3 https://t.co/RrEIAuqE6f" createdat="1640198496000" id="1473725424387694601"></div> That being said, this is hardly the first time that Dorsey has gone on a frenzy to unfollow people due to a difference in opinion. <cmsannotation type="cmsannotation" annotationid="Differ with Dorsey, and be unfollowed" comment="subhead" text="Differ with Dorsey, and be unfollowed">Differ with Dorsey, and be unfollowed</cmsannotation> Dorsey and <keyword id="399907" type="General" weightage="20" keywordseo="meta" source="Orion">Meta</keyword> CEO <keyword id="6354630" type="General" weightage="20" keywordseo="mark-zuckerberg" source="Orion">Mark Zuckerberg</keyword> have hardly ever seen eye-to-eye, whether it comes to freedom of expression or how a social network should be run, But, there was a time that both had enough mutual respect to at least follow their counterpart on Twitter. However, in December 2019, Dorsey unfollowed Zuckerberg, even though the founder of <keyword id="6354576" type="General" weightage="20" keywordseo="facebook" source="Orion">Facebook</keyword> hardly ever even used his account. The same occurred a year later, in 2020. After the US Presidential Election came to a close, Dorsey unfollowed both former US president Donald Trump and the current president, Joe Biden. He also unfollowed Kamala Harris and Ivanka Trump. In 2021, it’s venture capitalists and the name of the game is Web3. <div type="twitter" handle="jack" handlename="jack⚡️" image="http://pbs.twimg.com/profile_images/1115644092329758721/AFjOr-K8_normal.jpg" favoritecount="42868" retweetcount="7113" status="You don’t own “web3.”The VCs and their LPs do. It will never escape their incentives. It’s ultimately a centraliz… https://t.co/Rre1m6uAzc" createdat="1640058684000" id="1473139010197508098"></div> <cmsannotation type="cmsannotation" annotationid="What is the Web3 spat about?" comment="subhead" text="What is the Web3 spat about?">What is the Web3 spat about?</cmsannotation> The ongoing debate over Web3 is, in essence, about whether it can ever truly be decentralised. Dorsey has always been a big proponent of Bitcoin. For him, it’s not only a tool to hedge against hyperinflation but also a mode to defend against financial censorship. For instance, one of the reasons that El Salvador declared Bitcoin as currency is because their economy runs on the US dollar but they don’t have any say in the monetary policy. Regardless of how their economy is doing, its money supply is determined by a force that’s out of the local government’s hands. According to Dorsey, when it comes to Web3, decentralisation will never truly be possible because it will always be bound to the self-serving incentives of venture capitalists, who currently have the most in the game. <div type="Article" hostid="261" msid="88416405" title="Tech billionaires Jack Dorsey and Elon Musk take a dig at Web3 — ‘It’s somewhere between a and z’" mstype="2" mssubtype="0"></div> While on one side he was unfollowing VCs, on the other he was adding bitcoin maximalists — people who believe that Bitcoin is only digital asset that will be needed in the future — and open source software developers. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/tech-billionaires-jack-dorsey-and-elon-musk-take-a-dig-at-web3-its-somewhere-between-a-and-z/articleshow/88416405.cms">Tech billionaires Jack Dorsey and Elon Musk take a dig at Web3 — ‘It’s somewhere between a and z’</a> <a href="https://www.businessinsider.in/investment/news/ubisoft-wont-give-up-on-nfts-despite-criticism-and-having-sold-next-to-none/articleshow/88434743.cms">Ubisoft is doubling down on NFTs with decentralised storage despite severe criticism</a>

You Searched For "ubisoft nfts" and got 11 results

Ubisoft is joining Google, IBM, Wipro, LG and others on Hedera’s governing council as it doubles down on crypto

BI India Bureau

Ubisoft is doubling down on NFTs with decentralised storage despite severe criticism

BI India Bureau

Ubisoft becomes the first major video game developer to launch in-game NFTs

Phil Rosen

The maker of a popular video game series is dropping plans for NFTs after outcry from fans

Carla Mozée

'Mythic Quest' season 3 tackles the real-world controversy of video game NFTs: 'it is a gold mine for comedy'

Palmer Haasch

Meta is done with Diem, but not with blockchain payments

BI India Bureau

White Castle enters the crypto space with ethereum domain name and NFT

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