⚔️ Discord-MetaMask Tease Triggers Backlash Against NFTs

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NFT Brawls

⚔️ Discord-MetaMask Tease Triggers Backlash Against NFTs

FRAUD The backlash against NFTs has been brewing ever since the first JPEGs hit the market late last year and fetched eye-opening sums. Detractors called them a fraud, the sequel to the Initial Coin Offering bubble that popped the last great crypto boom in 2018. Critics said you can right-click and save NFTs, so what makes them so unique? Others said they contribute to global warming.

TEASED But on Nov. 8 things took a more definitive turn when Jason Citron, the CEO of Discord, teased an integration with the crypto wallet, MetaMask, on Twitter. While his proposal garnered support within crypto, opposition to his proposal hit like a tsunami.

PYRAMID “I cannot stress enough that NFT’s are a scam made by a group of the worst people in my field and should be viewed as a money laundering pyramid scheme burning the planet away,” tweeted Aranock, an artist and computer scientist, on Nov. 8. The tweet received over 24,000 likes.

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Yield Seekers

⚖️ 0L Aims To Revive Facebook’s Libra Cryptocurrency With Fair Launch

UNBANKED Every now and then folks adjacent to crypto Twitter like to tweet out some version of “Remember Libra?”. Libra was Facebook’s first effort to get in on the decentralized web, with a bold promise to “bank the unbanked” via blockchain that was revealed in mid-2019. The world’s largest social network caved in to regulatory pressure and gave up on its higher-end ambitions less than a year later.

YIELD SEEKERS It remains funny to think of Mark Zuckerberg and his horde of elite engineers flopping. But the truth is that the spirit of the ill-fated Facebookcoin lives on with a new blockchain called 0L that went live today, completely without any support from Menlo Park. For yield seekers, there’s a chance to get in early by mining its gas token on a Windows or Mac computer with the Carpe app

OPENNESS According to its documentation, the point of 0L is to stay as close to the codebase from Facebook, now known as Diem, as possible while still hewing to the principles of openness and permissionlessness.

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Links

🔗 Ethereum Layer 2 developer StarkWare raises $50 million, now valued at $2 billion: The Block

StarkWare, an Ethereum Layer 2 developer using ZK-rollups technology, has raised $50 million in a Series C funding round and is now valued at $2 billion.

🔗 Announcing Grants for Advocacy Non-Profits: Ethereum Foundation

The Ethereum Foundation is allocating 1 million USD in grant funding to organizations that educate governments and policymakers about Ethereum and blockchain technology. We encourage others in the Ethereum community to support their important work.

🔗 India to Ban Crypto As Payment Method, But Regulate As Asset: Report: CoinDesk

India will ban the use of cryptocurrencies for making payments, but will allow and regulate trading of crypto as assets, the Economic Times reported citing government sources.

🔗 Web3 social infrastructure startup CyberConnect raises $10 million in seed funding: The Block

CyberConnect, a crypto startup developing tools for Web3 social media, gaming, and metaverse applications, has raised $10 million in a seed funding round.

🔗 Mt. Gox rehabilitation plan is now 'final and binding': CoinTelegraph

Nobuaki Kobayashi implied in October the "final and binding" ruling was the last major hurdle in the compensation process, hinting users who filed claims could receive the funds fairly quickly.


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🧑‍💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, Bailey Reutzel, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.


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