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5 leading web3 Entrepreneurs from Australia and New Zealand share their exponential success and advice

5 leading web3 Entrepreneurs from Australia and New Zealand share their exponential success and advice

These following entrepreneurs have not only scaled significant opportunities in the web2 market but have also transitioned and applied their genius in the web3 and crypto space. Already in just a short few years and months, they have created incredible success and communities. Five of the fastest upcoming names share their insights into web3 and […]

Crypto News Ethereum

ETH Price Gets Punishment As Miners Sold Over 17,000 Ethereum

Ethereum’s recent upgrade has pushed miners out of its network. Now Ethereum 2.0 support validators who staked 32ETH and above in the network. The community expected the merge to push the price of ETH and other cryptos up. But the reverse became the case afterward. Related Reading: Ethereum: Can The Top Altcoin End Bitcoin’s Dominance Post Merge? A few minutes after the event on September 15, Bitcoin lost $1K. Ethereum also lost more than $200, plummeting from $1,635 to $1471 same merge day. The next few days, on September 18, ETH price shaded off more and landed on $1335.33.  Currently, on September 21, Ethereum is trading at $1344.45. This price shows a 0.17% price decrease in 24 hours. Its hourly gain shows 0.17%, but the 7 days price movement indicates a 15.91% loss.  Ethereum Miners Dump ETH Holding Increasing Pressure  Recall that Ethereum is no longer operating with a proof of work consensus mechanism. The combination of its Beacon Chain and mainnet has rendered miners useless on the network, replacing them with validators. Even though the miners hard-forked the network creating the ETHPOW, the new network has suffered attacks and is not yet as strong and promising. The crypto market expected a price reversal from bearish to bullish after the Ethereum upgrade. But after the event, the ETH price dropped, and the supply of ETH increased. This is not surprising because miners started disposing of their ETH coins before the merge. Ethereum miners initially gained 13,000 ETH every day on the PoW network. But on the new PoS, validators get only 1600 ETH. Miners’ rewards dropped by 90% after the merge, which could have lowered ETH supply advantageously, pushing the price upward.  Unfortunately, Ethereum miners have dumped up to 30K ETH holding due to the price movement and the upgrade effect. This was the reason behind Ether’s price plunge from Merge day. The continuous selling added pressure on investors causing more price losses.  The current state of crypto assets is not promising. Many enthusiasts are also dumping their holdings as prices continue to plummet. What is the Implication for Ethereum?  As miners continue dumping their ETH on the market, the price of Ether will keep falling. Even though the other factors that could have boosted the price remain positive, miners’ exit from the Ethereum market has worsened everything for ETH.  Currently, many analysts are predicting that Ethereum might drop to $750. If the miners continue selling spree coupled with the macroeconomic factors, that price level will likely occur soon.  Related Reading: Post-Merge Profit-Taking Cuts 13% Off Ethereum Ratio Against BTC Moreover, the upcoming Feds rate hike is causing panic already. Many investors dread the announcement as it might make the market bullish or bearish. If the rate stays 75 bps, there’s no problem. But the market is in trouble if it goes high to 100 bps.  Featured image from Pixabay and chart from TradingView.com

Crypto News

Sagaverse: Allowing Creators and Fans to Co-create and Co-monetize

It has never been easier to create — and this is reflected in 50 million creators trying to earn a living from their work — but the majority are struggling as only 2% of creators are earning income above minimum wages. What all creators have are their own superfans that create content. Yes, that’s right – The flip side of being a creator is what makes a creator in the first place: Their fans. Today, fan content already outnumbers original content. There are 75 million fans creating derivative works and fan art, creating a whopping 7.5 billion fan content consisting of images, videos, live streams, and comments. However, most generated content is trapped in dead ends. This content is ‘forgotten’, remains unmonetized, and is not used as a distribution driver. That is a massive missed opportunity. This is true for video, where even though video accounts for over 85% of internet traffic, video is still constrained to linear passive broadcasts and distribution models that lock out many creators and their fans. The Sagaverse project’s  founders spoke to content creators and communities to identify the best solutions to solve these problems. What’s needed now, is the ability to unleash new forms of video experiences, while fairly compensating for fandom, community, and participation. Let us show you how Sagaverse empowers ownership, attribution, and lifetime passive income. Key Points of Sagaverse Sagaverse, an engine and protocol for web3 social media, makes it easy for creators and fans to come together to co-create, co-monetize and co-distribute. Sagaverse is developing a cross-platform app that acts as a user-facing front-end for a rich media player and integrates a new approach to co-creation powered by derivative content monetization and various social features. Bringing creators and fans together, Sagaverse makes it possible for creators to activate fans and their content, bringing them limitless benefits. For creators, there’s nothing more powerful than a fan and what fans crave most is meaningful interaction and connection. Just imagine the greater network effects that could be realized if creators and fans were given the power to buy in. Blockchain Central to Sagaverse is its blockchain-powered manifest ensures attribution and licensing information is carried along and terms are always honored. The protocol consists of two main components: Rich Media Manifest for composing, distributing, and recomposing tokenized assets while retaining attribution, licensing information, and no duplication of assets Media Engine merging creation and consumption of interactive visual assets (2D, 3D, Programmable, Audio) Possibilities for Creators and Fans Content on Sagaverse is called a Saga. Sagas are all about collaborative play and creation. At the heart of Sagaverse is a rich media player designed for next-generation visual media including interactive and augmented video. We know that this is the next content format people will love and want in their lives. Combining this media player and manifest brings co-creation and attribution together, encouraging new rich media experiences through: Interactivity A 3D artist can create a 3D character and allow 3D animators to animate it, add video filters, AR games, custom emoji packs, etc. Every time the character is used by other artists or fans, the 3D artist who created the initial character receives rewards or royalties. Besides, creators can mint video NFTs and make them remixable by others, receiving royalties when consumed. Collaboration Creators and artists can unite and create ads, and then when advertisers use those ads, the co-creators receive royalties for their work Rich Media Besides, creators can cooperate with their fans; thus, they can make co-own augmented video NFTs, which Sagaverse calls Rich Media. A second, a like, a comment, a remix, a collaboration – everything counts and generates value. What Kind Of Content is Sagaverse Meant for? Current business models on Web2 platforms are unsuitable for the new expectations of creators, prosumers, and fans. Artists who focused on interactivity did not have a place in Web2, but now the world is asking for their content. Sagaverse developers created the platform for artists who create content that demands interactivity, such as video with fast-moving content (like sports), 3D artists, motion graphics artists, shader programmers, and developers that produce programmable content. And an open rich media format to describe the content like comments, likes, reaction videos, remixes, and related other content. Tokenomics Owning the Sagaverse token means owning the future of creation. The token is used in all platform transactions and is backed by partial DAO ownership of a growing content library. Token demand comes from staking and platform transactions. Monetizing is easy.  Mint, own, and get paid all from the Sagaverse mobile app. Creators always keep 95% of the revenue they generate. Every time anyone engages with a Saga, owners are rewarded through a Play to Earn model that continuously pays out over the lifespan of the content. Sagaverse’s blockchain protocol ensures attribution and licensing information is carried along and terms are always honored. Sagaverse allows anyone to support creators through content staking. Anyone can invest tokens earned or by purchasing additional Saga tokens. The more derivative works, engagement, and transactions a Saga has, the more tokens are distributed to its owners and stakers. This incentivizes and rewards creators and fans to build up the Sagaverse network through co-ownership, co-monetization, and co-distribution. The Sagaverse DAO retains a 5% fee from all transactions for maintaining and growing the platform, and some part is allocated among creators depending on how their content is consumed. Roadmap The first product launch of Sagaverse dApp is scheduled for a Q4 2022 release, targeting short-form video Creators, eSports players, 3D artists, 3D animators, developers, and fans of Sagaverse’s future is an open protocol for tokenized rich media. In late 2023 Sagaverse will open its protocol, allowing publishers to build creation and consumption experiences and enabling publishers to build and launch collaborative web3 media dApps. Wrapping up While Web2 is not enough for content creators to make a living, Web3 opens an extensive list of opportunities for both creators and fans, allowing both to cooperate, co-create and monetize. The Sagaverse platform brings together short-form video Creators, eSports players, 3D artists, 3D animators, developers, and fans who create interactive videos and want to monetize their work. Blockchain technology allows distributing and recomposing of tokenized assets while retaining attribution and licensing information. Mobilizing communities to create, remix and monetize interactive and AR video Bringing your digital assets to new audiences Enabling new revenue from your digital assets Creating with idols. Activate your community of fans to create, remix and monetize All this incentivizes and rewards creators and fans to build up the Sagaverse network through co-ownership, co-monetization, and co-distribution. Their Mission is bold: Empower 1 billion creators and fans to co-create,  generate income and thrive through creation and play with interactive visual content.  

Crypto News

Cardano (ADA) Price Fails To Break $0.5 Despite Vasil Hype

The Cardano Vasil hard fork has been in the works for a while now. Hype for this hard fork had been overshadowed by that of the Ethereum Merge, but now that the Merge is done and out of the way, the focus has now fallen back on the Cardano network once more. Given this, there has been much optimism about where the price of ADA is going from here, but the digital asset has not given any indication of positive movement. ADA Fails To Move With the Cardano Vasil hard fork drawing closer, investors have been expecting the kind of market run-up that preceded the Ethereum Merge. However, the price of ADA has not been responding in the same way since it continues to trend low.  The digital asset has suffered various dips during this time that has brought it down to $0.44 during this time. Even with the news of the hard fork and a definite date for the upgrade, there has been no significant increase in the price of the digital asset. Instead, ADA has succumbed to the general market trend and has remained in the red over this time.  Related Reading: Dogecoin Re-enters Crypto Top 10, But Price Continues To Struggle Over the last 24 hours, the price of ADA has been sliding. It has lost 10.76% already in the last day and is down 14.41% over the longer time frame of 7 days. The bearish outlook for the digital asset continues to wax strong, keeping the digital asset from reaching the $0.5 point. Cardano is currently seeing significant resistance at $0.47. Support levels for the digital assets are not as strong as expected, making it easy pickings for the bears. Presently, the odds of ADA getting to $0.5 is growing slimmer with each day. Cardano Hard Fork Coming Up The Vasil hard fork is scheduled for September 22nd, and Cardano founder Charles Hoskinson has assured the community that everything is going as planned. The founder said this in a live broadcast that garnered more than 44,000 viewers, where he explained that the hard fork had actually been triggered.  This shows that the requirements for the Merge to begin have been fulfilled, and the hard fork is ready to be carried out. The developer behind the Cardano network, IOG, has also dropped statements that speak to the readiness of the network for the upgrade. Related Reading: Bitcoin Open Interest, Funding Rates Point To Growing Bullish Sentiment IOG explained that the completion of the upgrade would make the network more developer friendly. Higher functionality, performance, and scalability are expected following the upgrade. The Vasil hard fork is now the most anticipated upgrade in the crypto space. As for the price of ADA, selling pressure is still mounting in the market. Demand has declined, causing the tokens to be valued lower than they did a year ago. Nevertheless, Cardano is still a dominant cryptocurrency, ranked as the 8th largest cryptocurrency with a market cap of $14.94 billion. Featured image from CNBCTV18, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…