NFTs have not escaped the crypto bear market, trading data shows. The non-fungible token market is struggling to maintain the parabolic growth it experienced during the bull market of 2021. Data from top NFT trading venues such as OpenSea reveals that trading volumes have fallen off a cliff in recent months, now at their lowest levels since July 2021.
Source: Is the NFT Boom Over? Trading Volumes Hit 12-Month Lows
In the early hours of July 24, Audius, a decentralized music platform, confirmed that there was an “unauthorized transfer” of its utility token, AUDIO, from the community treasury. While they believe no funds were at risk, the project restricted all Audius smart contracts on the Ethereum network, including the token balances and transfers, to forestall further damage.
Source: NFT Music Platform Audius Treasury Hacked, Loses 18.5M Tokens
What if the book series functioned like a publicly traded company where individuals could “buy stock” in it, and as the franchise grows, those “stocks” become more valuable? If this were the case, someone who purchased just three percent of Harry Potter back when there was only one book would be a billionaire now.
If you listen to the powers that be in the music industry, streaming may well be nothing at all – at least nothing that concerns you, the musician. Just be glad these platforms are not pirates! We know all the things it is not – many things which, it so happens, are subject to existing laws and regulations for payments to musicians for use of their work.
Source: What Is a Stream, Anyway?
The recent crash has had a significant impact on all aspects of cryptocurrency, including the world of NFTs. Most NFT floor prices have fallen by almost 80% during the last three months. Nonetheless, in the midst of the chaos, artists are searching for innovative ways to use non-fungible tokens. Let’s look at three examples: revenue rights, digital passes and VIP membership, and NFT-based charity efforts.
Source: 3 Music NFT Initiatives That Are Aiding Market Recovery | HackerNoon
NFTs are still on the rise despite the crypto downturn; from Madonna and Justin Bieber joining the trend, to model Bella Hadid releasing her own collection, Hollywood has caught the fever. But as digital collectibles become even more popular, it is imperative that all creators, even the less known ones, have a shot at success.
Source: New NFT Trends That Could Drive The Entertainment Industry
As news outlets struggle to adapt to shrinking budgets during the digital age, tech companies have grown bigger, wealthier, and more entrenched in all aspects of daily life. The uneven playing field leads many to question if Big Tech should subsidize the news they use, which is the focus of new research by the Center for International Media Assistance (CIMA) at the National Endowment for Democracy (NED).
Source: Making Big Tech Pay for News: 5 Things to Know – NATIONAL ENDOWMENT FOR DEMOCRACY
Patrick Quinn lives with his wife and four-year-old daughter in a yurt in West Cork, Ireland, a long way from the global media hubs where an aspiring screenwriter might find community or opportunity. But nearly every night, Quinn logs on to Decentralized Pictures, an unusual new platform where he can earn and spend a proprietary cryptocurrency known as FILM.
Source: In Hollywood, a crypto platform that isn’t just a way to lose your savings
Standards, like RSS for podcasts, have enabled emerging technologies to spread far and wide in the information age by making it easy for them to plug into existing ecosystems. But the blessing of standardization eventually comes at a cost, and innovation suffers as a result. As an example, this is why the podcast format has remained mostly stagnant over its 20 year history.
Source: The Standards Innovation Paradox