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Gate.io Blog Gate.io Podcast | Reddit Integrates NFTs, OpenSea Allows NFT Purchase Via Credit Card, Indonesia’s New Crypto Tax

Gate.io Podcast | Reddit Integrates NFTs, OpenSea Allows NFT Purchase Via Credit Card, Indonesia’s New Crypto Tax

07 April 04:26


This episode is brought to you by Gate.io and League Of Ancients (Airdrop). Reddit has launched its NFT collection and implemented the digital assets as exclusive avatars on the platform; Snoop Dogg expands his image even more in the crypto space by launching an NFT collection in Clay Nation’s Metaverse. Meanwhile, US Senator Elizabeth Warren warns investors that crypto may become this decade’s financial bubble. Followed by a Deep-Dive into Virgil Abloh’s project on building a DAO and helping independent digital artists to obtain recognition




In today’s Headlines:


  1. Reddit Integrates Avatar NFTs | 1 | 2 |

  2. Snoop Dogg’s NFT Collection On Cardano Blockchain | 1 | 2 |

  3. OpenSea Allows NFT Purchase Via Mastercard, Visa, Apple Pay & More | 1 | 2 |

  4. “Crypto Is This Decade’s Bubble” Says US Senator E. Warren | 1 |

  5. Indonesia Newest 0.1% Crypto Tax | 1 |


Sponsor: League Of Ancients (Airdrop)

Deep Dive: Virgil Abloh’s Vision To Bring Culture To Web3



Introduction
:



Welcome back to the Altcoin News Podcasts. I’m Peter, this is the show to get a neutral perspective on some of the latest headlines in DeFi, Metaverse, NFTs, and Big Tech. Brought to you by Gate.io, a centralized exchange with a neutral stance on current events and uphold privacy & security.


The information presented in this podcast is to help you stay up-to-date on the latest happening in the crypto space, and nothing presented hereby is financial advice. The news that I cover in this podcast will have the original source at your discretion. Stick by this podcast as I show you how to stay vigilant and learn to do your own research.


Reddit Integrates Avatar NFTs | 1 | 2 |


Reddit Has Launched Its NFT Collection.
Reddit, one of the most popular social media platforms on the web, has recently started to test the NFT integration of avatar profile pictures. Currently, there are only 4 types of NFT Reddit characters to be used as avatars. However, they have already been sold for approximately $400,000 each.

The CryptoSnoos, the name of Reddit's NFT collection, has been made available on OpenSea and it features an alien mascot named Snoo, that explores different art movements across the time. The versions of the alien are characterized by different shapes, some of them are fragmented, others rely on rounded geometrical figures while others adopt a more neo-classical aspect.

Based on the scarcity of the collection, it’s very likely that this is currently just a test of the platform to study a possible integration of NFTs on a high scale. The users that have bought the Snoos, are able to use them as profile avatars, by directly connecting their Metamask wallet to the social network and immediately integrating the alien as an image profile. According to Reddit, when commenting, the collector will also have an additional feature that informs the other users that is a CryptoSnoos NFT owner.


It may be possible that Reddit is also planning to allow people to mint their own NFTs and directly add them to the platform via external wallets, in order to incentive people to switch from the old Reddit version, which seems to continue to be pretty popular, to to the new one, by implementing new features like the one of NFTs avatars.

NFT Implementation May Allow Hack Attacks.
Reddit NFTs implementation is not certainly a new idea among the social media platforms: the first one being Twitter that allows people to add their own digital artworks as profile pictures. However, there could be some differences between the two NFTs platform integration, especially from a user safety perspective.

On Twitter, when someone adds an NFT as a profile image, the social network also displays the user’s wallet address, a feature that many disagree with because they accuse the platform of showing people’s wealth and facilitating phishing attacks. That’s why, probably, the integration that Reddit will apply, it will be different to the one of Twitter, or at least it may let the user be authorized for wallet address display and improve privacy security.

Snoop Dogg NFTs Collection On Cardano | 1 | 2 |


Snoop Dogg’s Clay Mates NFT Collection.
The more the time passes, the more Snoop Dogg expands his brand in the crypto space. The famous rapper, already a popular collector of digital assets, recently announced that he’s going to launch a personal collection of NFTs on the Cardano Blockchain.


The collection is named Clay Mates after the material that has been used to create the 10,000 digital characters that make up the assets. Every character was created based on algorithmic decisions and assembled, in real life, using handmade clay. As a standard NFT, every piece of the collection is going to be minted on the blockchain, in this case the choice relies on Cardano network.

Snoop Dogg isn’t the only one that contributed to the collection, but he has worked on along with ChampMedici. Both partnered with Clay Nation to attract new users to the company’s Metaverse whose aim is to bring to collectors iconic collectibles, unreleased music & exclusive items.

Clay Nations: A Metaverse For EveryBody.
Each collector, after the purchase of a Clay Mates, will receive the NFT as a 3D character playable in the Metaverse to explore the digital world. The space will be first available only for the collectors while, in the near future, according to the developers, will be open for everyone one, aiming to become a place full of digital events. Moreover, a Clay Mates purchase may also be accompanied with an unreleased track of Snoop Dogg, thus becoming an owner of an exclusive music NFTs.

The famous rapper has already bought a “pitch”, a plot of land, in the Clay Nation metaverse, named “Baked Nation” that it’s going to be able to unlock unreleased tracks of the artist for the exclusive holders. The drop of the collection is set to happen on 10th April 2022 and it is expected to be another great success following the past ones of the famous rapper.


OpenSea Allows NFT Purchase Via Mastercard, Visa, Apple Pay | 1 | 2 |

OpenSea No Longer Requires Users To Own Crypto.
If buying a NFT was a hard thing to do for those who didn't have a crypto bag, now things have started to change. OpenSea, one of the leading NFTs marketplace, is going to allow people to purchase digital artworks directly via credit cards, debit cards or Apple Pay, without the need to possess cryptocurrencies.

The announcement has come after the agreement between the famous marketplace and MoonPay, a company involved in the development of crypto payment systems. I remind you that MoonPay has also been implemented on Gate.io, in order to allow our consumers to directly purchase cryptos via MoonPay’s payment service.

However, both the corporations, MoonPay and Opensea, decided to find a solution to the payment system of the marketplace, allowing more and more people to purchase NFTs. MoonPay has already worked on a similar initiative, as the one in collaboration with celebrities to help them to easily acquire Bored Ape Yacht Club NFTs.

New Payment Method To Attract More Consumers.
Last month, OpenSea declared that the company generated a profit of more than $5 Billion in total trading volume, this only in January: a result that surpassed the previous record achieved in August 2021. The Marketplace has also announced that it is going to implement Solana NFTs on its own platform, aiming to increase the trading volume and bring to its users a larger choice of creative content. That move increased OpenSea trading volume, on 30th March by nearly 80%, while the price of Solana grew by 26% in the last 7 days, according to Coingecko.

MoonPay announced on Twitter that the partnership will permit users to purchase NFTs via Mastercard, Visa, Apple Pay, Google Pay and other payment systems, a move that should attract new consumers to the crypto space and encourage them to join the NFTs collectionism.



“Crypto Is This Decade’s Bubble” Says US Senator E. Warren | 1 |

US Should Aim To Create Its Own CBDC.
The skepticism around cryptocurrencies doesn’t seem to slow down, there are still many people that consider them as a threat to the global economy or as a new way of gambling. These opinions come both from common people, both from political and financial institutions and other representatives.

Recently, US Senator Elizabeth Warren, declared that the US Government should quickly move towards the implementation of a crypto regulation bill and call for the creation of the US own central bank digital currency (CBDC). A move that should repair all the mistakes that banks are currently committing, as declared by Warren.

Bitcoin To Be Regulated, In The US.
During a recent interview with NBC’s Chuck Todd on “Meet The Press Reports” the senator was asked if Bitcoin was going to be regulated, a question to which she positively responded, declaring that the most popular cryptocurrency is very likely to be regulated in the near future, using the 2007 financial crisis as an example for why the Bitcoin should be regulated. No further information on the type of regulation has been declared by Senator Elizabeth Warren.

Cryptocurrencies As The Bubble Of 2008 Global Crash.
Moreover, Chuck Todd has also asked if the Senator thought that cryptocurrencies are just an economic bubble, a question to which Warren has replied that the digital asset world is this decade's speculation space, like the one of the real estate business that caused the financial crisis of 2008. She also compared cryptocurrency enthusiasm like the one that was gravitating over the real estate market, when people were claiming that businesses were going to improve even more, by gaining greater profits in the near future.

US Senator Elizabeth Warren’s involvement on crypto regulation has seen a major action in March, when she proposed the introduction of a bill aiming to stop cryptocurrencies from collaborating with sanctioned ones. A bill that, in case the US President would pass into law, would mark companies not based in the US to the list of sanctioned ones and prohibit them from operating within the country.


Indonesia Newest 0.1% Crypto Tax | 1 |


Indonesians To Pay 0.1% On Crypto Gains.
Crypto taxes have also arrived in Indonesia, where the National Government has announced to impose taxation on crypto gains income from digital assets investment.

The Ministry of Finance, more specifically The Indonesian Directorate General of Taxes, has announced that people will be required to pay a pph, which is a fixed income taxation on crypto capital gains and also a VAT, the value-added tax, on crypto purchases at 0.1%, amid digital assets investment boom in the country.

The official announcement has been declared by Hestu Yoga Saksama, the Indonesian Director of Tax Regulation who has told CNN that citizens will be required to pay a 0.1% PPh and VAT for crypto investment, only on the final gains, adding that taxation method will begin on 1st of May.

Cryptocurrencies Treated As Commodity, Not As Currencies.
He also added that the taxation has increased because the Indonesian Central Banks and the Ministry of Trade consider crypto as a commodity rather than currencies. However, that percentage taxation requested by the financial institution is significantly lower than 11% which is the sum imposed on other goods and services, also considering the fact that 0.1% matches the income tax of shares listed on the Indonesian stock exchange.


According to The World Bank, Indonesia is South-East Asia’s largest economy, with 7.2 millions of citizens that currently own cryptocurrencies, a number that could definitely grant an increase of the county’s economic wealth. Even if the taxation is not something that many people are going to sustain, it should also take into the consideration that the governments has decided to keep the taxation fee low, rather than what happened in with India’s financial institutions that have imposed a crypto taxation of 30% and threaten the operation of many crypto services and unleashed tensions among investors.



Sponsor | League of Ancients

Before I continue with today’s deep dives, I must tell you about today’s sponsor, League of Ancients, the world's first Free-to-Play and Play-to-Earn crypto MOBA game, native to the BNB Chain.


MOBA refers to Multiplayer Online Battle Arena, where two teams of players compete against each other on an enclosed battlefield. MOBA games are fun and addictive, and have achieved enormous success in the industry. League of Legends and Defense of the Ancients 2 (Dota2) - the biggest titles in the genre - have a combined total of 120 million active users.


Inspired by Dota 2 and League of Legends, League of Ancients aims to bring the best 5v5 PVP Metaverse gaming experience to Android and iOS users. 10 players will be thrust into the game’s Ancient Realm tileset map which is divided into two sides called the Luminous and the Dark Souls. The objective of the game is to destroy the base of the opposing team.


Seeing the potential of the MOBA game, the project has received US$100K in pre-sales so far. Some notable partners aiding in LOA’s funding include Gate.io Labs, Kucoin Labs, OKEx Blockdream Ventures, Master Ventures, and LD Capital, to name a few.


With P2E mechanics embedded, the game is free to play, and players will earn small amounts of $LOA (the game's native cryptocurrency) simply by playing and winning battles. The earned tokens can then be used to buy new items or skins—often regarded as the in-game NFTs—which can then be traded on external NFT marketplaces for crypto or real-world money.


LOA was set to launch its own NFT marketplace by the end of Q1 2022, according to its roadmap. By early March, the interface and functionalities of the marketplace were already completed and ready for roll-out. However, the team finally made the decision to delay as they dived deeper into testing and QC phase and promised to take the responsibility to preempt and minimize risks as much as they can.


Although an exact date is not able to be provided as the team is still waiting for their smart contract to clear the audits, you can get a head start on LOA NFT Marketplace by participating in our podcast airdrop!


6,100 $LOA tokens are reserved for 50 podcast listeners from April 7 to April 14. What’s more, we also have an exclusive airdrop for our Turkish listeners! 50 winners are going to share $500 SLC tokens! Stay tuned!


DD | Virgil Abloh’s Vision To Bring Culture To Web3 | 1 | 2 | 3 |

Virgil Abloh Was Building His Idea Of Metaverse.
Virgil Abloh’s cultural contribution brought a huge impact not only on the fashion industry but also on the music and design domains. He managed to shape a new way of developing ideas and bringing them into reality: Abloh’s influence over the creative industries has truly remarked his visionary and unique talents.

However, his genius hasn’t stopped with his death and his influence keeps dictating the rules of the current entertainment industries. During his career he founded Off-white, one of the most popular streetwear brands out there, while also improving Louis Vuitton collections and directing many creative brand processes.

One of Abloh’s latest projects involved technology: he was aiming to merge innovation with creative processes, by smashing the barriers between companies and artists. The plan, called “Skyscraper”, should have been a place where Abloh himself and emerging artists would have had the possibility to show their own creations with the main goal of sustaining the digital art community and helping the creatives to obtain the deserved success. He wanted to put people in charge of creativity by breaking all the rules imposed by corporations.


One of the main characteristics of Virgil Abloh was his talent to help people to find their creative approach: in his most popular speech, the one he held at Harvard, he encouraged people to find their personal creativity, the one that, in his opinion, precedes any kind of learning or studying process. He sustained that childhood is the only moment that truly characterizes our identity and defines the person we truly are.


Skyscraper DAO: Community-Government Museum.

Abloh wanted to create a space where people could mint their own art: being this music, paintings, sculptures, literature or performance and allow consumers to buy them and invest into the artists directly via a native digital currency.

The token launch should have been preceded by a physical product drop in collaboration between Virgil and another brand, Nike could have been a possibility, according to the Skyscraper’s paper. The collaboration was aiming to drive revenue, awareness and encourage new artists to join the project, followed by an increase of NFTs minting and demand growth.

Moreover, the metaverse should have been characterized by a decentralized identity: a choice that Abloh pointed to by highlighting the fact that every piece of art would have been created, curated and owned by people rather than companies.

He wanted to bring culture into web3, which is even now a place that many companies see as just another profitable market. Even if the project was written only on paper, the idea seemed to be very concrete: the founder of Off-White had even planned the marketing campaign which should have focused on social media advertisement and regular drops of both physical and digital products, all of them created by Virgil and the community, beside the fact that there was already a planned collaboration between the project and the NFT Marketplace Zora.co


The Skyscraper museum should have also had the shape of a true building, where people could have had the possibility to rent spaces and show their own creations. A 3D model which the artist had already created on his presentation document.


Off-White FlagShip Stores Accept Cryptocurrencies.

Unfortunately, the death of Virgil Abloh stopped the entire project or, at least, it slowed it down. Recently, Off-White announced that flagship stores in Paris, Milan and London are going to allow consumers to purchase products via cryptocurrencies such as ETH, BTC, BNB, XRP and some stablecoins, according to Vogue. A move that may be related to the visionary idea of Virgil Abloh and may encourage other brands to progressively implement cryptocurrency payment methods.

Fashion Brands Into The Metaverse.
Even if Abloh let us a large bag of knowledge, there are some fashion brands that may embraced his visionary idea by advancing to the metaverse: recently, from the 24th - 27th March, a digital Fashion Week was held into the Decentraland: brands such as Tommy Hilfiger, Philippe Plein, Dolce & Gabbana exposed their newest collections, created in collaboration with many famous and emerging artists. Even if Abloh’s idea may seem an utopia, now we’re starting to experience how things may turn into reality and being part in what may be a revolution in all the creative industries.





















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