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The Wuling COVID Testing Cars will be delivered at the end of May

HONG KONG, May 23, 2022 - (ACN Newswire) - On May 13, Guo Yanhong, the supervisor of the Medical Administration and Hospital Authority of the National Health Commission,...

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Fractional Investing Company Public Acquires NFT Startup Otis

Fractional Investing Company Public Acquires NFT Startup OtisThe fractional investing company Public announced the acquisition of the digital collectibles and non-fungible token (NFT) technology startup Otis. Public’s co-CEO believes the acquisition will give Public the ability to provide people with the only place in the world “where people can invest in — and build a modern portfolio with — any fractional asset.” […]

PotionLabs Kicks Off Auction for ‘Potion Unlock’ – a Novel NFT Game to Open Source a DeFi Protocol

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass AdoptionBarcelona, Spain, 9th March, 2022, Chainwire The Potion Unlock game is a social experiment to bootstrap a decentralized community around ...

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PotionLabs Kicks Off Auction for ‘Potion Unlock’ – a Novel NFT Game to Open Source a DeFi Protocol

PotionLabs, the developers of the new risk management layer Potion Protocol, have announced the launch of the Potion Unlock NFT auction. Those who purchase NFTs in the auction will be able to participate in the Potion Unlock game, working with other community members to release the Potion Protocol into the public domain. With this one-of-a-kind strategy based on “aggressive decentralization”, Potion Labs seeks to avoid the dangers of a traditional project launch and to maximize community involvement. 

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The mechanics of the game are simple. The codebase of the entire project has been stored in IPFS and protected with a strong password. This password has then been split into segments of various lengths and will be distributed across 10,000 unique NFTs.

In order for the code to be finally decrypted and made public, participants will have to collaborate to bring enough of the pieces together. The game itself is totally open-ended: players will have to self-coordinate - without the input of Potion Labs - to find their own solution to the problem. 

Once the protocol's file is decrypted and released into the public domain, a community with ‘skin in the game' and web3 operational capabilities will have been formed. This community will then have power and stewardship over the future of the Potion Protocol as a public good.

How Can Players Participate in the Potion Unlock Game? 

The majority of Potion NFTs will be sold to the public via a Dutch-style auction starting 14th March (whitelisting already live) where high profile DeFi and NFT participants are expected to take part. 

To strengthen the participating community, two Potion NFT rarities (Kelly Knights and Wise Wizards), have already been distributed through a $12M private sale last January. These were bought by prominent DeFi players such as Polychain, Placeholder, Maven 11, Pantera, The LAO, MetaCartel, Parafi, Spartan, Robert Leshner, Fernando Martinelli, Synthetix founders, Crypto Plaza, Roble VC, CULTUR3, Lemniscap, Zee and beToken Capital, among others.

Finally, Potion's early community members (OGs or Original Gangsters), also received a generous allocation of Potion OG NFTs at no cost, in recognition for their early community support and inspiration. A significant number of OG NFTs have also been made available in the form of airdrops to 1,000 leading members of prominent DAOs, with the goal of building a high-quality community around the project. 

What is the Symbolism of the Potion NFT Design? 

Potion Unlock NFTs commemorate the release of the Lab's Kelly Machine and its key technical breakthrough: the synthesis of the Kelly Criterion into a bonding curve. To celebrate this, each NFT symbolically and artistically represents a different insurance contract. Various characteristic artifacts are used in each NFT to represent the specific parameters of an insurance contract. 

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The collection of NFTs is made up of 10,000 unique pieces, which together embody one of the first artistic renderings of a financial product as well as providing a dictionary of Kelly Criterion bonding curves. Importantly, Potion NFTs are digital collectibles, not financial instruments: only the original NFT minters can participate in the Potion Unlock game. 

What are Potion NFT Rarities?

There are 6 NFT types or “rarities” in the game, each with a different “decryption power”, giving the various players different capabilities and powers. Each NFT rarity will also have a different “redundancy” level, so no single holder can block the resolution of the game. 

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What is the Motivation Behind the Project?

PotionLabs is seeking to accomplish several goals with this launch model. The developers are deep believers in decentralization and designed Potion Unlock to transfer control of the Potion Protocol to the community. In this way, the approach delivers “aggressive decentralization' and avoids power becoming concentrated in the hands of the few, ensuring that it is instead spread across the community.

This form of protocol release is also meant to create a commercially viable way for PotionLabs to continue to finance its research work while operating within clear regulatory guidelines. PotionLabs also hopes this novel release model can be of use for other Web3 projects.

What do the Team Have to Say?

“We are excited about the opportunity to introduce a new class of services built from the ground up by the community for the community. We believe in a community-first approach to creating radically new technology aimed at helping users in DeFi manage the risk of their assets in a simple and reliable way,” said Guillem Mosquera, PotionLabs Co-founder, and CTO.

"We are deeply grateful to the community around the project who decided to support our vision and team. We are experimenting with new approaches to open source development for web3 and are lucky to have a visionary community willing to fuel and support our exploration. We are excited for them to continue playing a key role in the project's community," said Jordi Muñoz, PotionLabs Co-founder and CEO.

"Extremely sophisticated on the backend, surprisingly simple on the frontend, Potion ushers in a new era of risk management for DeFi liquidity providers (LPs) and consumers. By using the Kelly Criterion, Potion allows LPs to optimally price options according to their desired risk and yield parameters. Then, by aggregating all individual LP curves, Potion offers the best-priced options to the consumer. When people say DeFi 2.0, Potion sits at the top of that list", said Chris Burniske, Partner at Placeholder.

About Potion Labs

PotionLabs is a web3-native research and software development company that has developed a robust risk management layer for crypto assets, the Potion Protocol. It pioneers a new risk pricing model based on the Kelly Criterion, which results in long-term survival mathematical expectations for LPs, and deeper, more reliable liquidity markets for users. The release of the Protocol's code is launching shortly through the Potion NFT Unlock game. More on PotionLabs here: https://potion.fi & https://potion.auction 

NFT Auction for Ukraine

There are many different galleries all over the world, but nothing quite like the Lighthouse Gallery. Located in San Juan Puerto Rico, Lighthouse is the first “smart gallery”of its kind. The gallery displays NFTs by established and emerging digital artists from Puerto Rico and worldwide. Founder, Crystal Rose Pierce a technologistlifelong entrepreneur and Forbes Top 10 Woman in Blockchain, sees the gallery as a way to help build a community comprised of local and international artists and collectors.

On March 3rd 2022, Crystal Rose and the staff at Lighthouse held an NFT art auction called “Lighthouse for Ukraine”. Here you could see and purchase NFT artwork by Ukrainian children and artists in bomb shelters, and chronicles of the war through their eyes. Some are NFT photos of physical works of art destroyed by bombs that will never be recovered. All revenues will be donated to humanitarian needs of the Ukrainian army and support of artists. 


Crypto Mondays San Juan, which is held every Monday at Fairmont El San Juan Hotel, will help support this cause by continuing the NFT art auction through Monday3/7/2022 and discuss what crypto has done for the Ukraine. Unfortunately, Crystal Rose will not be able to join us Monday evening, but we will have the honor to speak with two pilers in the community. David Namdar,who is GP at Coral Capital and co-founder of NFT.com, will help support the galleries mission by speaking on behalf of the NFT auction and Sergii  Grybniak whis not only the founder of Waterfall protocol and CEO at Opporty.com but is also a Ukrainian native. 


We are happy to have both gentlemen join us at Crypto Mondays San Juan and help support the cause!

 

UkraineDAO donations surpass $6M to help assist Ukrainian residents

Following Russia’s invasion of Ukraine, cryptocurrency users have taken it upon themselves to collect funds for the besieged country. To that aim, decentralized autonomous organizations [...]

Sotheby’s Cancels Auction Of 104 CryptoPunks Minutes Before Launching

Sotheby’s cancels auction of 104 CryptoPunks NFT collection only moments before launch as the collector under the initials 0x650D pulled out so let’s find out more in today’s latest cryptocurrency news. The renowned auction house Sotheby’s was supposed to host an anticipated auction of 104 CryptoPunk NFT but the auction house canceled the event a […]
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Sotheby’s Cancels Auction Of 104 CryptoPunks Minutes Before Launching

Sotheby’s cancels auction of 104 CryptoPunks NFT collection only moments before launch as the collector under the initials 0x650D pulled out so let’s find out more in today’s latest cryptocurrency news. The renowned auction house Sotheby’s was supposed to host an anticipated auction of 104 CryptoPunk NFT but the auction house canceled the event a […]

Market Wrap: Crypto, Stocks Rise Despite Ongoing Invasion of Ukraine

Ukraine Parliament Kyiv

The Ukrainian president criticized the country's allies for their lack of assistance in stopping the Russian advance

The post Market Wrap: Crypto, Stocks Rise Despite Ongoing Invasion of Ukraine appeared first on Blockworks.

AP Calls Off Sale of Stranded Migrants NFT After Twitter Outcry

NFT

“This was a poor choice of imagery for an NFT,” Lauren Easton, an AP spokesperson, told Blockworks

The post AP Calls Off Sale of Stranded Migrants NFT After Twitter Outcry appeared first on Blockworks.

CryptoPunks Seller Cancels Sotheby’s NFT Auction Last-Minute

CryptoPunks Seller Cancels Sotheby's NFT Auction Last-Minute

A single-lot of 104 CryptoPunks nonfungible tokens (NFTs) valued at up to $30 million owned by a single collector was withdrawn 23 minutes after bidding was scheduled to begin on a Sotheby’s auction. “Following discussions with the consignor, tonight’s Punk It sale has been withdrawn. Thank you to our panelists, guests and viewers for joining us,” said a message from Sotheby’s metaverse Twitter account on Wednesday. “Nvm, Decided to Hodl” In the aftermath of the canceled auction anonymous collector who goes by the username ‘0x650d’ tweeted to his 12,000 followers, ‘nvm, decided to hodl’. The collector then posted a meme implying that they were “taking punks mainstream by rugging Sothebys.” nvm, decided to hodl https://t.co/WdQ5H7I0fl — 0x650d (@0x650d) February 24, 2022 The consignor acquired all 104 Punks together in a single blockchain transaction and is one of the largest such groups held by a single wallet which represents more than one percent of all Punks. The auction, hosted by Sotheby’s, was on track to be one of the largest NFT auctions in history. Larva Labs created CryptoPunks, a generative creation of 10,000 pixelated characters, in 2017. Since then, it has gone on to generate over $2 billion in sales volume. Currently, the project has a floor price of $154,102. Sotheby’s NFT Sale Reached $100M in 2021 This was the second time Sotheby’s was supposed to sell a major NFT lot, with the first being a $24.4 million collection of 101 Bored Apes sold in September. The famed auction house has reported selling over $100 million in NFT sales last year alone and on occasion has even accepted bids for non-NFT related artwork in Ethereum cryptocurrency.

The post CryptoPunks Seller Cancels Sotheby’s NFT Auction Last-Minute appeared first on Cryptoknowmics-Crypto News and Media Platform.

CryptoPunks Owner Boasts of ‘Rugging’ Sotheby’s, NFT Auction Canceled

Going once, going twice, going...nowhere.

Binance Joins Bank of Russia’s Association

Binance Joins Bank of Russia's Association

Although the world’s largest cryptocurrency exchange Binance has suspended its services in countries like Israel due to licensing issues, however, the firm continues to deepen its ties with Russia. On Thursday, Binance announced its entry into the Association of Banks of Russia.  “Binance, the world’s leading blockchain ecosystem in the Association of Bank of Russia to provide a dialog with federal authorities, legislators, experts in the field of digital financial assets and digital currencies.” Association of Bank of Russia was founded in 1990, the association includes more than 300 banks and financial institutions in Russia, accounting for 90 percent of the country’s banking infrastructure. The objective of the center is to compile professional reviews on the circulation of digital assets and digital currencies in Russia. Additionally, to provide the association with data and reports on the international experience of managing crypto assets.  Olga Goncharova has been appointed to lead the Association’s Expert Center for Digital Financial Assets and Digital Currencies, approved by Association’s Presidium Council. Goncharova joined Binance in January to assist with compliance efforts in Russia and CIS. She was a Department Director at the Bank of Russia before joining hands with Binance.  Association President Georgy Luntovsky states that Goncharova’s responsibilities would be limited to monitoring the circulation of digital currencies in Russia. He believes that she is an ideal candidate to lead the platform and discuss approaches for the regulation and development of digital assets.  The Center will primarily focus on preparing reviews on the circulation of digital assets and provide expertise and analytical materials to generalize and circulate international experience. Gleb Kostarev, Binance Director for Eastern European Division told the Russian Banking Community, “The largest cryptocurrency ecosystem in the world, Binance has a solid track record of working with regulators. I am sure that our developments and our expertise will be positively received by the Russian banking community.” Binance is renowned for its close cooperation with Russian government-backed organizations and local blockchain advocates. Last year, Binance supplied its NFTs to Russian State Hermitage Museum assisting the museum in raising $440,000 in an NFT auction of the tokenized antiques. In 2020, Binance campaigned for crypto sector acceptance as a part of a Russian crypto lobby group.  Binance has also signed a Memorandum of Understanding with Dubai World Trade Centre Authority to establish a ‘new international Virtual Asset ecosystem that will generate long-term economic growth through digital innovation.’

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