DIRS.INFO The most relevant business & tech news

☆ Morgan Stanley sees a sign that points to a top in bitcoin
▼ + stars: | 2023-05-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

It's altcoin season, as they say in crypto, and that could mean a bitcoin price peak is imminent, according to Morgan Stanley. "Speculative activity has returned to some parts of the crypto market," said Morgan Stanley analyst Sheena Shah. Bitcoin price peaks both large and small have in recent years coincided with increases in speculative token listings, she said, highlighting April and November 2021 and March and August 2022. Throughout 2021 bitcoin's price had an inverse relationship with the pace of new token listings, according to Shah. "We will be watching to see if the same pattern repeats or if we are at the start of a new bullish bitcoin price cycle," said Shah.

☆ AI music could revolutionize the industry — and this artist is leading the way
▼ + stars: | 2023-05-16 | by ( Drew Austin | ) www.businessinsider.com time to read: +11 min

Despite this widespread apprehension, Holly Herndon — an experimental musician and artist — doesn't think AI is nefarious or will ruin art. Herndon's usage of AI shows a way forward for not just artists but also the rest of us. In her blog post announcing Holly+, Herndon said she envisioned a future where digitally created voices "soon become standard practice for artists and other creatives." While the project has yielded an ever-growing array of fascinating art, Holly+ also raises questions about the future of that art. (Anyone can use the Holly+ voice tool itself without submitting the output to the DAO, however.)

☆ Bitcoin mining stocks rally as network congestion stirs hopes for higher fees ahead
▼ + stars: | 2023-05-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin's price action has been relatively tame lately, but bitcoin-related stocks are on the rise this week as miners benefit from recent congestion on the network. Transaction fees spiked to at least $40, compared with their normal fees of between $1 and $5. Here's what investors need to know The revenue of bitcoin miners spiked to a one-year high of $41.6 million on Monday, according to CryptoQuant. "The transaction fees that are paid to miners have grown and that's healthy for the long-term viability of security of Bitcoin." On Wednesday, publicly traded bitcoin miners Riot Platform and Marathon Digital gained 6% and 9%, respectively.

☆ 'Ordinals' could signal the beginning of a new generation for Bitcoin. Here's what investors need to know
▼ + stars: | 2023-05-10 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

"In a way, Bitcoin Ordinals add more diversity and utility to the Bitcoin network, which could elevate the Bitcoin network utility to that of other blockchains, such as Ethereum." There's one population in crypto, however, who have long believed the Bitcoin network could and must do more than that. Binance cited Bitcoin network congestion on Sunday as the reason for pausing withdrawals, and bitcoin dropped 7% between then and Monday. "Congestion, or lots of demand for the block space, is not just good, it's a critical thing for the future of Bitcoin," Miller added. A sneak peek Ordinals and spikes in transaction fees are just a glimpse of what may be on the horizon.

☆ The Metaverse, Zuckerber's Tech Obession, Is Officially Dead. ChatGPT Killed It.
▼ + stars: | 2023-05-08 | by ( Ed Zitron | ) www.businessinsider.com time to read: +11 min

The Metaverse, the once-buzzy technology that promised to allow users to hang out awkwardly in a disorientating video-game-like world, has died after being abandoned by the business world. After a much-heralded debut, the Metaverse became the obsession of the tech world and a quick hack to win over Wall Street investors. Once the tech industry turned to a new, more promising trend — generative AI — the fate of the Metaverse was sealed. But the short life and ignominious death of the Metaverse offers a glaring indictment of the tech industry that birthed it. Roblox, an online game platform that has existed since 2004, rode the Metaverse hype wave to an initial public offering and a $41 billion valuation.

☆ Two Creative Directors on Sports, Hip-Hop and Faith
▼ + stars: | 2023-05-08 | by ( Justin Baek | ) www.nytimes.com time to read: +2 min

Everybody has a story, and you can tell it through A.I., pictures, music, all the creative elements. It came, and though it’s not gone, the whole time, I was like, I’m still going to go with touchable, feel-able art. A lot of things are happening through technology, and a lot of things are going to happen, but I don’t know anything that is bigger than the Mona Lisa. No matter what happens in technology, the root of creativity will always be around. It’s the reason we still hear Fleetwood Mac and Marvin Gaye songs in the same rotation that you hear Drake.

☆ Ex-OpenSea Worker Found Guilty in First NFT Insider-Trading Case
▼ + stars: | 2023-05-04 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

The home page of NFT marketplace OpenSea. Photo: Ariel Zambelich/The Wall Street JournalA former employee of NFT marketplace OpenSea was found guilty Wednesday of what federal prosecutors described as the first insider-trading case involving digital tokens, marking a win for the Justice Department in its push to police the crypto industry. A federal jury in New York convicted Nathaniel Chastain of wire fraud and money laundering for using nonpublic information from his employer to trade on nonfungible tokens in 2021. The Manhattan U.S. attorney’s office charged Mr. Chastain in 2022, accusing him of purchasing the NFTs ahead of OpenSea’s featuring them on its home page. Once the NFTs spiked in value after being featured, Mr. Chastain sold them, pocketing tens of thousands of dollars in profit, prosecutors said.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rises, and ex-OpenSea manager found guilty in NFT insider trading case: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Ryan Rugg, the head of digital assets for Citibank's TTS business, discusses blockchain technology and tokenization from Digital Assets Week in San Fransisco.

☆ More layoffs hit Tom Brady's NFT startup Autograph, which just cut nearly a third of its workforce
▼ + stars: | 2023-05-04 | by ( Ben Bergman | ) www.businessinsider.com time to read: +2 min

Autograph is a star studded NFT platform cofounded by retired NFL quarterback Tom Brady. This new round of layoffs occurs months after the company laid off dozens of staffers in December. The NFT market has has cooled, with sales expected to plunge 72% this year, according to one estimate. Autograph, the star studded NFT platform cofounded by retired NFL quarterback Tom Brady, has laid off about a third of its workforce, Insider has learned. The NFT market has has cooled considerably, with sales expected to plunge 72% this year, according to one industry estimate.

The case could have broader implications for assets that do not fit in to existing regulations preventing investment advisers, brokers and others from trading on material nonpublic information, legal experts have said. "You can't hold Nate to a standard that didn't exist," his lawyer Daniel Filor told jurors in his closing argument on Monday. "Nobody told Nate that he couldn't use or share that information." Prosecutor Allison Nichols said Chastain used anonymous OpenSea accounts to make the illegal trades, showing he knew what he was doing was wrong. "He hid what he was doing," Nichols told the jury in her rebuttal argument.

☆ Dubai's stunning skyline shown in surreal, dramatic images
▼ + stars: | 2023-05-01 | by ( Nadia Leigh-Hewitson | ) edition.cnn.com time to read: +3 min

Now, artist Baber Afzal is capturing the city-state’s famous towers and spires in a new light through a series of stunning images that marry architecture, environment, and atmosphere. Afzal, 40, uses a combination of landscape and architectural photography, and visual art techniques, to illustrate the city of Dubai as he sees it. “Awareness of the climatic conditions gave birth to a unique editing style and technique to express my visions.”A Pakistani native, Afzal first started making art in 2007. “I gravitated toward the editing aspect since shifting color and contrast values really fascinated me.”Photographer and visual artist Baber Afzal captures Dubai in a unique light in his ethereal images. He believes that technology will play a significant role in the future of the art scene in Dubai.

☆ The creator economy could be a $250 billion industry, a Goldman Sachs report says. Here are 4 other takeaways.
▼ + stars: | 2023-05-01 | by ( Marta Biino | ) www.businessinsider.com time to read: +5 min

Goldman Sachs released in April a report that maps out the creator economy. The firm estimates the creator economy is a $250 billion industry, and could reach $480 billion by 2027. As the industry continues to take hold, Goldman Sachs released in April a report that maps out the creator economy, estimating its size and predicting key platform and engagement trends. Here are five key takeaways:The creator economy could be worth an estimated $250 billionGoldman Sachs estimates the creator economy represents a $250 billion total addressable market, which could reach about $480 billion by 2027. The data reflects total capital raised by companies labeled under the categories "content creator," "creator platform" and "creator economy."

☆ The creator economy is a $250 billion market, according to Goldman Sachs analysts. Here are 4 other takeaways from their 30-page report.
▼ + stars: | 2023-05-01 | by ( Marta Biino | ) www.businessinsider.com time to read: +6 min

Goldman Sachs released in April a report that maps out the creator economy. The firm estimates the creator economy is a $250 billion industry, and could reach $480 billion by 2027. Here are five key takeaways:The creator economy could be worth an estimated $250 billionGoldman Sachs estimates the creator economy represents a $250 billion total addressable market, which could reach about $480 billion by 2027. Investment in creator-economy startups is decliningNot all aspects of the creator economy have grown unfettered. The data reflects total capital raised by companies labeled under the categories "content creator," "creator platform" and "creator economy."

☆ As Instagram shifts its focus, here are 6 ways the platform is letting creators earn money on the app in 2023
▼ + stars: | 2023-04-27 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +2 min

Nearly every social-media platform is experimenting with ways to pay content creators. Since 2020, Instagram has unveiled a hodgepodge of creator monetization programs — from tipping tools to a sponsorship marketplace for influencers. Currently, Meta is still operating and testing about six programs that pay creators on Instagram. One method is user-pay, where followers pay creators for their content using Instagram-native tools like the tipping features Badges on livestreams and Gifts on reels. Here's a breakdown of the various money-making tools Instagram is testing or has rolled out for creators:

☆ Prescient bets by the likes of Shaquille O'Neal and Serena Williams have triggered an explosion in tech investing among Europe's sports stars
▼ + stars: | 2023-04-27 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +8 min

European sports stars are following US counterparts, such as Shaquille O'Neal, in betting on tech. O'Neal, who also made early bets on Google and Lyft, has shown how sports stars can become successful venture capitalists once their playing careers end. He's not alone in the US, with the football star Tom Brady and the basketball stars LeBron James and Steph Curry all actively investing in tech. The tennis legend Serena Williams went a step further and set up her own fund, Serena Ventures. Shaquille O'Neal has proven to be a shrewd tech investor with early bets on Ring, Google, and Lyft.

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

☆ Check out these ultra-realistic masks of Elon Musk, Jeff Bezos, and Mark Zuckerberg that cost $20,000 a piece and a month to make
▼ + stars: | 2023-04-26 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Landon Meier is the artist behind realistic masks of tech figures like Elon Musk and Mark Zuckerberg. The digital artist Beeple showed the masks at an event this month during the NFT conference in New York. It seemed the likes of Andy Warhol, Elon Musk, Mark Zuckerberg, Jeff Bezos, and North Korean leader Kim Jong Un had all at once taken the spotlight together. The masks themselves were made by Denver, Colorado-based artist Landon Meier, who meticulously crafts the life-like visages, Beeple tweeted. Landon Meier.

☆ Bored Ape NFT creators win case against copycat artist
▼ + stars: | 2023-04-25 | by ( Elle Reeve | ) edition.cnn.com time to read: +4 min

CNN —Crypto company Yuga Labs has won its claims of trademark infringement against artist Ryder Ripps who copied their NFTs in what he called a protest of their racially offensive imagery. Ripps told CNN he would appeal. But critics commented on social media that some of the Bored Apes contained what looked like references to posts on the website 4chan, which has become a hub of extremism, and pointed out that apes are an old trope in racist imagery. “Once the court adopted the plaintiff’s framing of the case, it was clear what was going to happen: the plaintiff wins everything basically,” he said. “There was an underlying really important point that the defendants are trying to make about the possibility that there was some kind of Nazi glorification in the overall collection NFT collection for the Bored Ape Yacht Club,” Goldman said.

☆ First-Ever NFT Insider-Trading Case Heads to Trial
▼ + stars: | 2023-04-24 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

OpenSea is the largest online marketplace of nonfungible tokens. Photo: Ariel Zambelich/The Wall Street JournalThe first-ever trial involving alleged insider trading of digital tokens kicks off in a New York federal court Monday, a test of how the Justice Department applies age-old laws to a new and lightly regulated industry. The defendant, Nathaniel Chastain , is a former employee of OpenSea, the largest online marketplace of nonfungible tokens, and his case turns on whether he used confidential information to purchase NFTs ahead of the company featuring them on its home page.

It is considered the first criminal insider trading case involving such assets. "He abused that position of trust," prosecutors said in an April 4 filing. He added that if prosecutors mention insider trading, "there is a substantial danger of undue prejudice and confusion of the jury." "Is it insider trading of anything?" "If this case sticks, there is precedent that insider trading theory can be applied to any asset class."

☆ Donald Trump got back on Instagram after 2 years and the first thing he did was sell NFTs
▼ + stars: | 2023-04-19 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +4 min

Donald Trump made his first posts on Instagram after a two-year hiatus — to sell NFTs of himself. The NFTs sold out within hours, Trump claimed in one Instagram post on Tuesday. Trump took to the social media platform to promote his second set of digital trading cards for $99 per piece. Trump claimed in another Tuesday Instagram post that the new NFT trading cards sold out within hours. "As of 10 minutes ago, my Digital Trading Cards SOLD OUT, in RECORD TIME, approximately $4.6 Million.

☆ Trump reports earning less than $201 from Truth Social and up to $1 million from NFTs styling him as a 'hero'
▼ + stars: | 2023-04-15 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

Trump revealed details about his financial earnings in a new filing that gives insight into his business ventures. He reported making up to $1 million from his NFT trading cards that depicted him in heroic guises. He also revealed earning less than $201 from his social media platform Truth Social. Trump said that he made less than $201 from the Trump Media & Technology Group, the company behind Truth Social, which he launched after being banned from various social media platforms following January 6, 2021, insurrection. The company, which Trump owns 90% of, is valued at between $5 million and $25 million on the form.

☆ Trump made a bundle of cash selling NFTs, financial filings show
▼ + stars: | 2023-04-14 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Former President Donald Trump made at least six figures of income selling NFTs last year, his new financial disclosure showed Friday. NFTs, short for nonfungible tokens, are unique digital assets that have their ownership recorded on a digital ledger called a blockchain. Trump has made between $100,001 and $1 million in income from NFTs, according to his 2022 financial disclosure form published by the watchdog group CREW. But the series of 45,000 NFTs sold out in less than a day, according to the website that listed them. Trump also made more than $5 million in income from speaking engagements through a similarly named company called CIC Ventures LLC, the disclosure shows.

☆ The housing market's fluctuations of the last year have left the best forecasters torn on what home prices will do in 2023
▼ + stars: | 2023-04-13 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

That said, today's newsletter focuses on the housing market — and why economists can't seem to agree on what it's going to do next. Some of the top real-estate forecasters in the world expect home prices to drop in 2023. Zillow forecasts home prices to climb 0.5% this year, and CoreLogic predicts a year-over-year increase of 3.7% by February 2024. Last month's financial turmoil that Silicon Valley Bank kicked off has led many analysts to anticipate a cut or pause in rate hikes, which could lead to fluctuations in housing demand and affordability. Prices in New York rose nearly 2% Wednesday as fears of a global supply shock intensified.

☆ More layoffs may still come for tech workers
▼ + stars: | 2023-04-12 | by ( Emilia David | ) www.businessinsider.com time to read: +4 min

The tech sector has shed an estimated 330,000 jobs since last year, but my colleague Hasan Chowdhury writes that more cuts will likely come. Here's why tech workers have to brace for more layoffs. The AI arms race has pushed tech organizations to recruit AI talent from university programs aggressively. Google employees reportedly tried to stop Bard. Read Insider's exclusive on the cuts.

Search resuls for: "NFT"

25 mentions found