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Is iBOMMA an Illegal Streaming Platform? What Are the Risks Involved?

By
Aletheia
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0
hacker-hacking-cyber-security
madartzgraphics (CC0), Pixabay

If you’re a fan of free streaming sites like Moviesda, you’re probably also familiar with iBOMMA. It’s an online platform that works quite similarly to Moviesda, as it also offers unauthorized songs and movies for free to its visitors. With sites like iBOMMA, blockbuster movies are finally more accessible to anyone, especially those who don’t want to subscribe to streaming services like Netflix.

However, have you ever considered the repercussions of digital piracy? Not only does digital piracy hurt the movie and entertainment industry, but you could also potentially put your private data in jeopardy. 

This article will talk more about iBOMMA and how sites like it are damaging the industry.

What Is iBOMMA?

Suppose you’re looking for the latest Tamil, Telugu, and Malayalam movies. In that case, iBOMMA could be your go-to destination for such content. The platform has an expansive collection of high-quality movies, shows, and songs that are regularly updated. Sounds perfect, right? The only catch is that iBOMMA is an illegal streaming platform. 

However, the site makes it extremely easy for visitors to view its content, especially since it is optimized for smartphones. It even allows you to control the quality of the video you’re downloading and lower the resolution to speed up the download times. 

When given a free option, it doesn’t come as a surprise that people would flock to these sites rather than pay a monthly subscription. However, little do they know that their actions are hurting the industry behind the scenes.

Song and Movie Leaks on iBOMMA

As mentioned, iBOMMA is most famous for uploading songs and music. Specifically, it hosts a vast collection of Tamil and Hindi songs. As for its library of movies, you’ll find films featuring renowned figures such as Rajnikanth and Dhanush. Some of the more recent uploads include Jasmine, 2.0, and Aayiram Porkasugal.

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mohamed_hassan (CC0), Pixabay

Will iBOMMA Be Online for Long?

We know that the entertainment industry is doing its best to crack down on digital pirates, so we doubt that iBOMMA will be up for a long time. We believe that copyright enforcers will remove the site anytime soon. It won’t come as a surprise if it changes its site name or domain name, which is how many free movie streaming sites prolong the legal process.

What Are the Risks of Illegal Streaming?

You’re probably aware of this, but illegal streaming sites typically aren’t secure. Most of the time, the site owners don’t use cutting-edge security, especially since these sites don’t last for very long anyway. In other words, these illegal streaming platforms don’t follow the same regulations and standards that legal websites operate by.

If you’re thinking about accessing websites like iBOMMA, we recommend that you think twice. Here are some of the risks you’ll want to keep in mind. Hopefully, these concerns will deter you from wanting to stream or download unauthorized content from the internet.

Accidental Torrent Downloads

Most authorities will turn a blind eye to illegal streaming. However, downloading illegal content is an entirely different story. In other words, this means that torrenting movies and shows could land you in big trouble, not to mention that torrents are traceable. 

Even if you plan to stick to streaming online, streaming sites like iBOMMA can be incredibly fussy. One wrong click and you could find yourself accidentally downloading a movie, which could land you in serious legal trouble.

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mohamed_hassan (CC0), Pixabay

Malicious Software

Another serious concern that comes with illegal streaming is malicious software. It’s not unheard of for websites like iBOMMA to be full of nasty viruses that could seriously damage your device. Have you noticed how free streaming websites are full of pop-up ads? These sites are breeding grounds for malware, spyware, and the like.

Even if you don’t click on any links, there’s a possibility that the malware will download itself into your device.

Data Leaks

Websites typically ask you to log in or create an account on their platform, especially when using their services. However, as mentioned, these sites don’t invest a lot in security. These sites may sell off your personal information to third-party organizations for some extra income.

Besides, even if they don’t sell off your information, the fact remains that the site’s security isn’t the best. In other words, hackers could easily access and steal your information with little-to-no effort, thanks to inadequate security measures. 

Piracy Is Essentially Theft

As we’re probably all aware, there are clear laws regarding the use of purchased content. In general, purchasing content means listening, playing, reading, or using that content for personal activities is allowed. You cross the boundary of legality once you copy, share, trade, or make money off of it. For instance, piracy is like buying or renting a movie and asking people to pay you for watching it themselves.

If you copy any content without the permission and approval of the original creator or owner is stealing. If you do this activity, you are a digital pirate, and you are violating copyright laws. 

Conclusion

While it’s tempting to choose the free yet illegal option, it’s best to walk the legal path from the get-go and avoid having to go through any trouble later down the road. By subscribing to major streaming platforms like Hulu, Netflix, Disney+, and Amazon, not only are you helping the entertainment industry, you’re also ensuring that you’re safe from malware.

Should You Be Streaming Movies on MovieRulz TV?

By
Aletheia
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0
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mohamed_hassan (CC0), Pixabay

Much to the dismay of the entertainment industry, the illegal streaming and downloading of movies and TV shows have become more and more frequent with each passing year. One popular free streaming website is MovieRulz, and in this article, we’ll discuss whether you should watch movies on this platform and if you’ll get in trouble for doing so.

As you may or may not know, law enforcers and the entertainment industry, in general, have taken copyright violations more seriously in recent years. They are doing this to try and protect indie or small-time content creators, film producers, actors, and everyone else in this industry trying to earn a living.

When sites such as MovieRulz upload new movies before their official release, fewer people will go to their local cinema and pay to watch the film. As a result, this practice negatively affects the movie and entertainment industry, not to mention the revenue of your local cinema, it’s even better to use a platform like Netflix or Firestick and support your small indie producers and actors

All About MovieRulz

Now, let’s talk a bit more about the website in question. MovieRulz is a popular website that uploads movies without the approval of the creators. In other words, it’s an illegal streaming website very similar to Moviesda.

The platform is popularly known for its Telugu and Malayalam movies. However, it also has a decent number of Western and international films. Since you can watch all the site’s content without paying, it’s one of the leading websites people go to for illegally streaming movies. 

It doesn’t help that MovieRulz is also optimized for smartphone use, making it all the more accessible to a vast number of people. The website even has a section dedicated to reducing a movie’s video quality to speed up the download time.

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TheDigitalArtist (CC0), Pixabay

How Long Before MovieRulz Gets Taken Down?

Without a doubt, we can expect that law enforcers will get rid of MovieRulz’s domain sooner rather than later. India, the United States, and other countries are cracking down on illegal movie streaming platforms, and punishment has gotten more severe. 

As such, don’t be surprised when one day you’ll find that MovieRulz is no longer online. Although, there’s also a good chance that MovieRulz will set up a new domain and site name to try and prolong the inevitable. 

Video Piracy: How Does It Happen?

Technically, there are three gateways to video piracy: simulcasts, video downloading, and credential sharing. No matter the kind of piracy, the revenue of the creator and everyone who worked so hard to make the film great will be majorly affected. 

After all, why would anyone pay for something when they could get it for free in the first place? This is the kind of mindset that many people hold, especially since we’ve gone through some difficult times as of late.

Simulcasts

One of the leading forms of video piracy comes in the form of recording and redistributing simulcasts of live streaming. Let’s use live sports as an example. Live sports are one of the most pirated live events ever. A study by sportspromedia states that 51% of sports fans choose to watch pirated streams instead of through official means. 

Video Downloading

With just a simple Google search, you’ll see that there are many tools available online that can make downloading a video as easy as pie. It can be as simple as simply pasting a URL and hitting enter for the tool to start downloading your video of choice. 

Video streaming platforms typically do their best to protect their content by using encryption. However, these platforms generally don’t pay that much attention on key protection. As such, pirates take full advantage of this fact and put in a lot of effort to find the encryption key. 

Once this key is within their grasp, pirates can easily convert encrypted files into raw files.

Sharing Credentials

Credential sharing is prevalent, especially for popular streaming services like Amazon Prime, Netflix, Hulu, and others. Users typically subscribe to one account and then share that account among friends and family.

With that in mind, there are several ways users can pirate video content through credentials:

  • Token theft—If you didn’t know, streaming applications typically use tokens to identify their users. Pirates can copy these tokens over to other devices, giving them access to the platform’s content. 
  • Password theft—Password theft takes place when your account credentials get hacked or stolen. When this happens, the hacker or thief can sell your information to pirates.
  • Bypass restrictions—When pirates successfully hack streaming services, they can mess around with the platform’s set restrictions. For example, let’s look at Netflix; the platform restricts the number of devices allowed on one account depending on the subscription plan. By tinkering around with the settings, pirates can change the restriction and allow multiple users.
  • Neverending trials—This last one is quite popular, as many users create fake accounts and use different credit cards to have unlimited access to free trials.
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Jade87 (CC0), Pixabay

The Impact of Piracy

As mentioned, piracy can heavily affect the entertainment industry. Aside from that, here are some other repercussions of digital piracy:

Loss of Revenue

As we’ve said before, streaming or downloading unauthorized movies or TV shows can seriously hurt the potential revenue of content creators. According to a study reported by TechCrunch, piracy could cause Netflix to lose $192 million in monthly income. This is significantly more than either Hulu or Amazon, as both are only losing $45 million a month. 

Fewer Funds Allocated to Production

Because creators now have lower revenue due to piracy, this ultimately reduces their desire to invest or allocate money towards production. For example, the cancelation of NBC TV’s American psychological horror-thriller series Hannibal was due to ‘poor ratings.’ However, in 2013, the series was the fifth most illegally downloaded TV show.

Hannibal producer Martha De Laurentiis even said piracy played a significant part in the show’s cancelation. 

Increased Security Risks

If you’re one of those people who regularly access free movie streaming websites, you might not have considered this before. There’s a big chance that when you access such sites, you’re putting your personal information and device at risk. 

Typically, pirates spread viruses and malware using content they upload on the internet. One out of three piracy websites contains malware, according to a study by RiskIQ, a Cybersecurity firm. 

What Happens When You Stream Illegally?

In recent years, big media companies and federal agencies have been slowly cracking down on big-time backdoor streaming rings. However, as a viewer, will you also get in trouble by watching pirated content on the internet? 

Downloading or torrenting copyrighted content onto your devices without proper permission and approval from the creators is illegal. There is no doubt about this. As for illegally streaming movies online, you could receive a fine of $750 or more when caught. 

Conclusion

We’d rather be safe than sorry, and we recommend that you do the same. While copyright laws vary per country, some regions are much stricter, and you could face a hefty fine or a punishment much worse than that. 

Is Moviesda Illegal? Here’s What You Need to Know

By
Aletheia
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0
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Photo by Michael Geiger on Unsplash

If you’re fond of watching free movies online, you’re probably familiar with sites such as Moviesda. This particular site is trendy among people who enjoy watching content online, as the piracy website has a vast collection of songs and movies you can access for free.

For the past couple of years, piracy has become a significant problem in the entertainment industry, mainly because small-time or indie filmmakers have a much harder time earning a living from their movies due to piracy. Whenever websites like Moviesda leak up-and-coming movies to the general public before their official release in theaters, this results in fewer people paying to watch the film at their local cinema.

Of course, some may argue that this seems like a minuscule issue in the grand scheme of things, especially if you think about the various problems happening around the world. However, more piracy means less revenue for the local theaters, putting businesses and livelihoods in jeopardy.

What Is Moviesda?

Moviesda is the kind of website that offers its audience pirated content, which means that the admins behind the site are doing something completely illegal. Moviesda is especially popular for uploading pirated movies in Tamil, Telugu, and Malayalam languages. At this point, it seems that the website is a go-to site for many movie lovers who don’t want to spend money going to the cinema.

Another factor contributing to Moviesda’s popularity is its smartphone optimization, making it an extremely accessible website for those who don’t have a PC or laptop. The site has a dedicated section for downloading music at a lower quality to improve download times and reduce memory usage significantly.

Moviesda used to be called Isaimini, and other than Tamil and Tamil-dubbed content, it has a vast collection of famous international and Western films.

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mohamed_hassan (CC0), Pixabay

What Movies Will You Find?

As mentioned, Moviesda became famous thanks to its expansive library of pirated movies. The website regularly leaks movies from renowned stars, and some of the more recent uploads include Aayiram Porkasugal, 2.0, Jasmine, Darbar, Petta, and more. Without a doubt, the unofficial release of these movies must have left a dent in the movies’ revenues, especially since Moviesda has an incredibly significant amount of traffic.

What Songs Will You Find?

Moviesda also has a decent collection of songs you can illegally listen to and download. The site seems to have a knack for releasing Hindi and Tamil songs.

Will Moviesda Be Up for Long?

We believe that Moviesda won’t be around for a long time. After all, many countries are doing all they can to fight against piracy—whether it be movies, music, TV shows, or any other form of media. For the past couple of years, law enforcement has gotten even more strict regarding piracy, as they’ve been trying very hard to stop these websites from leaking unauthorized content. 

Because of this, countless sites similar to Moviesda have been taken down, and sooner or later, it will be their turn. In such instances, torrent and free streaming websites change their domain name and domain extension from time to time to try and slow down the legal process. 

This is the exact reason why Isaimini changed its name to Moviesda, as its admins wanted to keep the site up for longer. 

Why Are Websites Like Moviesda Illegal?

If you’re a fan of watching free movies online from piracy platforms, you might not want to admit to yourself that what you’re doing is against the law. There are some instances where we badly want to watch a movie, but we can’t for whatever reason (e.g., it’s not released in your country yet, you don’t want to subscribe to a renowned streaming platform, etc.) 

However, sad to say that streaming unlicensed content online is against the law. According to Jim Gibson, the director of the Intellectual Property Institute at the University of Richmond law school, streaming of unauthorized content breaks the law in two ways. 

When you download a part of a file, this is considered as a copy of copyrighted material, which, in essence, is illegal. This is called “pseudo-streaming.” On the other hand, when you stream movies as something like a “public performance” (e.g., the film is being shown to a significant number of people that are not part of your regular family circle and close acquaintances), this is also considered a copyright violation. 

Of course, that isn’t to say that all streaming sites are illegal. There’s an excellent selection of renowned (and very much legal) streaming platforms out there, such as Disney+, Netflix, Amazon Prime, Hulu, and more. 

What makes these legal platforms different than the free streaming websites you find online is that the team behind them took the proper measures to get the right licensing agreements. In other words, the content creators have allowed these famous platforms to host their movies or TV shows for their users to watch and enjoy.

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Photo by Markus Winkler on Unsplash

Not only that, but these agreements ensure that the content owners receive the proper compensation. As you may have guessed, free streaming websites don’t have the right to host content, nor do they correctly compensate the creators. 

All they do is take unauthorized recordings of movies or download them from another site and then upload them to another platform. What’s more, the owners of these platforms typically receive money for the high traffic of people accessing their website daily. 

Laws around torrenting or streaming pirated content vary depending on where you live. But for the most part, uploading and downloading movies and shows is typically illegal, no matter where you are in the world. That being said, some countries take piracy incredibly seriously. 

For instance, getting caught torrenting a movie in Germany could have you paying a massive fine of $2000 or more.

Will You Get In Trouble for Streaming on Moviesda?

Aside from getting fined a hefty amount, a recent bill introduced by Republican Senator Thom Tillis has changed copyright law. Thanks to these changes, you could receive a fine of up to $30,000 and up to ten years in prison. Although, this is specifically for those who take financial advantage of pirated material. 

As you can imagine, this is a massive win for the entertainment industry. 

Conclusion

Most content pirates justify their actions by saying that the entertainment industry has unfair or expensive pricing. However, that’s not necessarily the case, especially since several legal streaming platforms offer varying prices for different budgets. For sure, you’ll find a subscription plan that works for you. 

In summary, it’s so much better to pay a bit of money every month than have to deal with legal issues due to illegally watching movies online. 

FC Barcelona Ends Two Week Old Deal With Ownix NFT Marketplace

By
Christian Allen Tandoc
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0
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In recent months, the market for non-fungible tokens (NFTs) has exploded. It has been used in a variety of industries, including music, cuisine, and sports.

FC Barcelona announced a relationship with premium NFT marketplace Ownix earlier this month to produce the Club’s NFTs. This collaboration, however, was short-lived, as FC Barcelona dissolved the agreement on Thursday. The termination happened just a few days before the Club’s maiden NFT collection auction on the platform was set.

Following the arrest of Israeli crypto tycoon Moshe Hogeg, the owner of the football club Beitar Jerusalem, the La Liga club ended its association with Ownix.

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Hogeg, who purportedly has ties to Ownix, was detained on suspicion of involvement in an alleged huge cryptocurrency fraud. He was detained alongside seven other persons. Hogeg’s legal counsel, on the other hand, is said to have refuted the charges.

FC Barcelona later announced the termination of its contract with Ownix, citing reasons contrary to the Club’s ideals. “In light of information received today that contradicts the Club’s ideals, FC Barcelona hereby notifies the immediate cancellation of the contract to generate and market NFT digital assets with Ownix,” the Club declared.

In response to FC Barcelona’s statement, Ownix announced that it has canceled its contract with Hogeg to supply advisory services. And that Hogeg had demanded the dismissal. The corporation also denied any involvement in Hogeg’s arrest. It further said that Hogeg did not own any stock in the company.

The agreement with Ownix called for supporters to be able to purchase digital certificates of authenticity for virtual goods related to the Club’s history. It also gave the Club a new avenue to connect out to its fans all across the world. The NFTs are inspired by images and videos from the Club’s 122-year history.

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Even as Google searches for non-fungible tokens reached new highs this week, global interest in non-fungible tokens has never been higher. Sports teams all around the world are becoming interested in NFTs. It is a technique of making revenue and increasing fan interaction for them.

In sports, NFTs are used to commemorate the lives of icons such as baseball legend Willie Mays. The Costacos Collection released a collection in honor of the icon’s 90th birthday around a month ago.

NFTs also capture priceless moments, such as Zlatan Ibrahimovic’s scoring celebration. Ibrahimovic became the first player to have a goal celebration turned into an NFT created live during a sporting event a few weeks back.

In August, soccer legend Lionel Messi debuted his own line of NFTs.

7 Jaw Dropping NFT Statistics From Project Next Earth

By
Christian Allen Tandoc
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0
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NFTs have been a buzzword in the last year. In this post, we’ll look at seven astounding facts to see how NFTs came to be, what they are, and where they might go next.

Digital assets have existed for quite some time. Consider the following early examples of digital collectibles: Runescape gold, EverQuest platinum, and World of Warcraft gold.

These things were valued because there was no identical equal anyplace else on the planet. Anyone who has traded or sold these digital objects can verify that their value fluctuated depending on supply and demand.

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Although exchanging distinct virtual objects has existed for many years, the technology required to record unique digital ownership was not invented until fairly recently, with Satoshi Nakamoto’s invention of the blockchain in 2008.

Today, metaverse initiatives such as Next Earth have dominated the virtual item industry. Next Earth is a virtual Earth in which players can mint tiles of any location they want, from their garden to Buckingham Palace.

In this post, we’ll look at seven startling facts regarding NFTs to help us understand how they came to be and where they might go next.

More Than 100,000 NFTs Minted

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Next Earth, the world’s first NFT-based virtual environment, has sold over 100,000 NFTs. This is a significant milestone for the project, and the potential for expansion is limitless. This reflects the growing interest in the virtual real estate market, which is quickly becoming inextricably linked to the concept of the metaverse.

It is anticipated that the figure will continue to climb substantially in the future. NFTs have been touted as a “killer app” for cryptocurrency, and completely decentralized metaverses would be impossible to imagine without them, as they provide a method for trading and storing unique assets.

20,000 Twitter Followers

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In the cryptosphere, Twitter is a massively essential social channel. The Next Earth community on Twitter has grown significantly, with over 20,000 followers at the time of writing.

Their community is increasing by the day, and the fact that so many people have decided to join them is a tribute to their ambition for a fully decentralized metaverse. They also have thousands of followers on Telegram, Discord, and other platforms. Social media has shown to be one of the most successful means of forming communities and increasing awareness of NFTs.

It’s no surprise that Next Earth’s community has grown significantly in recent months. They’ve been developing significant features like Land Art and a charity DAO system, and consumers are aware that great things are on the way.

Eiffel Tower Sold For 16BNB

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The Eiffel Tower is a global cultural landmark and one of the most recognizable monuments on the planet. This historic landmark’s first-ever NFT was minted on Next Earth and sold for a whopping 16 BNB.

This is an excellent example of how NFTs may break through traditional barriers and connect users from all over the world. The Next Earth crew has been working hard to develop a community and contribute back to the metaverse environment, and they’ve done an amazing job of it.

The real-life Eiffel Tower cost roughly 20 million Euros to build and was paid for via ticket sales. The virtual Eiffel Tower may be paid off in the metaverse’s future through metaverse transactions. With the continued popularity of NFTs, this is only one of many wonderful possibilities that lie ahead.

Over 8,000 Landowners Registered

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Land is an extremely precious and vital possession. It is a conduit for users to express their creativity and individuality in the metaverse, and it may also be a way for users to monetize their material.

The Next Earth team has been hard at work to provide people with new opportunities to own distinct territories in the metaverse. They recently released Land Art, which lets you paint ocean tiles to create art in the metaverse.

On Next Earth, almost 8,000 people have already enrolled as landowners. This number will continue to rise as new features are added.

Next Earth Almost $50,000 In Daily Sales Value

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The metaverse is expanding at a rapid pace. For example, on November 12th, NFT sales on Next Earth nearly hit $50,000, with an average profit ratio of 6110 percent. These data are increasing on a daily basis, reflecting the growing interest in the metaverse.

The metaverse is in an extremely exciting period right now. It’s only been a little more than a year since NFTs truly took off, and it’s taken that long for NFTs to attract public notice. They have now done so, and their popularity will rise as more people learn about them.

Madison Square Garden Sold At 15 BNB

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Madison Square Garden, one of the most iconic sites on the planet, was sold for 15 BNB. This is an excellent illustration of how NFTs bring people together. This iconic venue has played host to some of sports and entertainment’s most prominent personalities.

It’s safe to say that many people have witnessed a game on Madison Square Garden’s court. Thanks to NFTs, fans may now own a piece of both history and entertainment.

Great Pyramid Of Giza Sold At 50 BNB

The Great Pyramid of Giza is one of the World’s Seven Wonders. It isn’t easy to imagine a more iconic monument than this, and the NFT is a natural fit for it. The NFT of the Great Pyramid of Giza was auctioned for a whopping 50 BNB.

Summary

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The metaverse and virtual real estate are expanding in lockstep with the cryptocurrency and blockchain industries. As we continue to live in a more decentralized, democratic, and accessible society, virtual real estate becomes an increasingly viable means for people to monetize their creativity.

NFTs have provided new avenues for creators to express themselves and bring various ideas to life. NFTs are quickly becoming one of the most powerful tools available to artists and designers seeking to share their vision with the rest of the world.

Xbox May Keep Off NFT Projects As Phil Spencer Believes Some Are Exploitive

By
Christian Allen Tandoc
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0
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Phil Spencer, Microsoft’s senior vice president of gaming, expressed his concern about some NFT gaming projects, believing that the enjoyable aspect of games is being jeopardized by the use of the new possibilities that the blockchain provides.

The tension around blockchain adoption by the game industry appeared to have increased once more during an Axios interview when Xbox CEO offered his thoughts on various NFT projects. Because Xbox is a gaming industry online marketplace powerhouse, his opinions are significant and influential for the future landscape of blockchain-based games. Spencer remarked:

“What I’d say today on NFT, all up, is I think there’s a lot of speculation and experimentation that’s happening, and that some of the creative that I see today feels more exploitive than about entertainment”

The good news for NFT game fans is that the Xbox CEO is not openly opposing NFTs. In fact, he did not object to the technology or its characteristics on their own. Technology’s the way businesses are using it that appears to turn him off.

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According to Peter Zackariasson and Timothy L. Wilson’s research study Creativity In The Video Game Sector, “Throughout the growth of this industry, creativity has been the key skill in generating successful and profitable video games.”

Creativity in the video game industry is present throughout the entire structure. (…) it drives the industry, creating endless opportunities, at the same time as it creates great pressure. (…) technical logics and perfection may not have that much to do with successful video games. One has to look at it from artistic and creative perspectives in most parts of the process of developing and publishing a video game.

This is an intriguing concept because we are accustomed to thinking of large enterprises as collections of entities driven primarily by money. Of course, the game industry is concerned with profit, but the quality of the creativity portrayed accounts for a significant portion of their earnings.

Allowing gamers to modify in-game identities, goods, avatars, and so on; encouraging them to apply their own imagination to maximize worlds within the games – as Warcraft and Minecraft do – allowing skins to be transferable between games are just a few of the things that NFTs can accomplish for games.

From that vantage point, NFT games appear to perfectly complement the gaming industry’s growth strategy, which helps to explain the success of blockchain-based gaming. However, we must also consider the characteristics that entail profit, which are also a large part of the craze.

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Axie Infinity, which had earned a total of $2.59 billion in NFT sales by October, is one of the most popular examples this year. The game is free to download, and users can make investments to earn money. One of the most infamous elements, which is also employed in other NFT games, is the online battle arena.

However, last month, Steam, the largest distributor of PC gaming software, yanked the rug out from under NFT games by prohibiting goods with real-world value: blockchain games, crypto assets, and NFT collectibles. As a result, there is concern that other large platforms will follow in their footsteps.

Spencer also appears to imply that, because the NFT gaming sector is still in its infancy, it is typical for some projects to exhibit “things that maybe aren’t something you want to have in your shop.”

A distinction is being made between gaming and job. It is possible that Xbox will remain cautious of non-fungible token initiatives and will not integrate blockchain technologies at this time. But, for the time being, their position is unclear.

Peru Central Bank Launching CBDC To Keep Up With Cryptocurrency

By
Christian Allen Tandoc
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0
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Julio Velarde, President of the Central Reserve Bank of Peru (BCRP), revealed that the central bank is working on building a CBDC in partnership with other central banks across the world. As the country faces insecurity and inflation in goods and services, the central bank is debating financial models to combat the impending catastrophe.

During the CADE 2021 business conference, Velarde revealed that the BCRP has been “working on a digital coin” and other projects with the cooperation of the central banks of India, Singapore, and other countries.

According to the BCRP President, “the payment system we will have in the world eight to ten years from now will be radically different from the current one,” and Peru’s digital coin will pave the way for the country’s future.

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He declined to speak further on the other projects the central bank has been working on due to the uncertainties surrounding the issues at the present.

In Peru, the landscape surrounding cryptocurrency is hazy. The government has issued warnings, and several authorities have indicated that cryptocurrencies are “risky” and that strict laws are on the way, but no official decisions have been made.

Velarde stated that because numerous cryptocurrencies advancements are taking place, Peru’s central bank’s objective is to “give them a sort of sandbox and let them progress.” A more concrete regulation will be issued later.”

The Bank for International Settlements (BIS), a financial institution whose mission is to coordinate central banks throughout the world in the “pursuit of monetary and financial stability,” has naturally become involved in CBDC development. They have “six CBDC-related proofs of concept and prototypes” and are working on more, according to reports.

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During a speech, Benoît Curé, Head of the BIS Innovation Hub, claimed that central bank money offers major advantages such as “safety, finality, liquidity, and integrity” and underlined the importance of adapting and fitting digital economies to avoid losing these “advantages.” Money, he added, “must continue to be issued and regulated by trusted and accountable organizations.”

According to Curé, the technological future of banking that we are approaching raises many challenging challenges for global corporations to answer. The blockchain, stablecoins, DeFi, and the digital economy, in general, have resulted in the rapid growth of financial concepts and new opportunities.

This has shaken many foundations, particularly those of private banks. CBDCs, according to Benoît Curé, are “part of the solution,” but “global stablecoins, DeFi platforms, and huge IT corporations will disrupt banks’ models anyway.”

Cryptocurrencies are defined by the Central Bank of Peru (BCRP) as “unregulated financial assets that do not have the status of legal cash and are not backed by central banks.” The website depicts a reduction in Bitcoin’s price in 2018 but has not updated the graphic to reflect its growth in subsequent years.

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However, because Peruvians expect their national currency to depreciate in the near future, cryptocurrencies provide an alternative and have grown in popularity.

From June to July 2020, Peru experienced an 18.3 percent increase in Blockchain crypto wallet transactions. The trading volume then increased by roughly 24.36 percent in May 2021 due to the uncertainties surrounding the presidential elections.

The decentralized nature of cryptocurrencies provided a refuge landscape of freedom and an economic fighting change alongside the possibility of a massive drop in the Peruvian economy, as many of the policies proposed by the current president, Pedro Castillo, are similar to those implemented by the Argentinan and Venezuelan governments, where they have been shown to have a significant impact on the economy and national currency.

Helpful Tools That Can Help Foretell Bitcoin Market Top

By
Christian Allen Tandoc
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0
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Trying to catch the bitcoin peak is difficult. There are forecasts for when the market will peak, but nothing conclusively indicates where the rise will conclude. An analysis is typically done to capture the peak of the market, and tools are occasionally used to follow the top.

This isn’t to say that the tools will always be useful in catching the top. However, employing historical data and these methods can be beneficial in anticipating the peak of the market and determining a good time to sell certain digital assets and profit.

Five tools were proposed as contenders for predicting the market peak in the most recent issue of Glassnode’s weekly newsletter. Each of them makes use of years of on-chain and market data. The top is set at a different price for each tool. Let’s go over them one by one.

Mayer Multiple

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The first instrument cited in the paper, which was released on Monday, is the Mayer Multiple. It is described as “a basic yet effective price-to-200-day moving average ratio” (200-day moving average). The Mayer Multiple employs statistical methods to demonstrate that a Mayer Multiple of 2.4 is an implausible extreme. In this case, the price has risen 2.4x in the long run.

Using this method, an upper band of $110,000 is achieved, with the possibility to trend higher or lower depending on how price changes on the 200 DMA.

Top Price Model

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The Top Price Model is the second tool in the lineup. Willy Woo developed the tool as an epically fitted model that multiplies the all-time average price by a factor of 35. The all-time average price in this scenario is $6.1K. A bitcoin peak of $214K would be produced by multiplying the price by a factor of 35.

Woo’s model has proven to be a much less volatile tool to predict the market top than the Mayer Multiple. This is due to the fact that the Mayer Multiple is based on the 200 DMA, which moves far slower than the all-time average price.

Bitcoin MVRV Z-Score Metric

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The standard deviations of the spot price from the realized price are measured using statistical normalization in this metric. According to the analysis, high market values indicate that investors continue to hold huge unrealized profits, indicating that the sell incentive has reached a maximum. This could aid in predicting when the market has reached a climax.

“On the other hand, bottoms can be reached when the market is substantially submerged, and investor capitulation is likely.” “The present market is roughly ‘halfway,’ having cooled off considerably following the top in April,” according to the research.

RHODL Ratio

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The RHODL ratio is the fourth tool in the lineup that suggests a method for forecasting market tops. This analyzes the purchase and sell trends of older and newer investors in order to predict the top.

Because market bottoms occur when older, wiser investors acquire and hold a tremendous amount of supply, the inverse is valid for predicting the top. When older investors sell their shares, newer, speculative investors come in to buy up the supply.

According to the RHODL ratio, the market will peak when the number of newer (younger) coins in the market is high in comparison to older coins. According to the research, the RHODL ratio is currently stabilizing, as it did in 2013. This shows that there is a stable equilibrium between coins aged one week and one year.

Reserve Risk Metric

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This is a tool that makes extensive use of on-chain data. It emphasizes the consequences of holders who refused to sell their shares during a bull market. As long as investors continue to keep their coins, the asset’s price will rise. As more holders refuse to sell, fewer “coin-days” will be destroyed, leading the Reserve Risk measure to fall.

However, prices will eventually reach a position where the majority of holders are eager to sell. Once this occurs, investors will recognize the opportunity cost, causing the Reserve Risk metric to trend higher, culminating at “blow-off peaks.”

It should be highlighted that, despite the bull market and enormous amounts of bitcoin amassed in the previous six months, Reserve Risk has remained low. “However, lately increased CDD is beginning to restart the upswing, albeit with plenty of gas left in the tank,” the research continues.

Sandbox Metaverse Alpha Launching Later This Month

By
Christian Allen Tandoc
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0
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The Sandbox, Animoca Brands’ virtual property and gaming firm is opening up a portion of its metaverse to players for the first time during a multi-week play-to-earn (P2E) Alpha event. However, just a few lucky players will be able to enjoy the complete experience.

The virtual game world of the Sandbox allows users to monetize their time spent in the metaverse through a play-to-earn mechanism. Players can buy land, create nonfungible tokens (NFT), and earn the Sandbox token (SAND) by completing various objectives within the game. They have the option of staking the token as well.

According to a Wednesday release from the company, the event will begin on November 29 at 1 p.m. UTC and will go through December 20. A limited number of 5,000 players will have the opportunity to earn up to 1,000 SAND (about $3,500 at current pricing) and three exclusive NFTs by spending time in The Sandbox teams’ 18 adventures.

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The three limited-edition NFTs will only be available at the event. They will show a medieval-style gate, a blue-and-black dragon, and a longsword, all of which can be used in The Sandbox metaverse.

The Alpha Pass is an NFT ticket that allows 5,000 people full entry to the event. A lottery for 1,000 Sandbox Landowners will be held, and 2,250 more will be distributed to Sandbox account users via daily social contests over a three-week period. These golden tickets will also be available for purchase on OpenSea’s secondary market between November 29 and December 19.

Players who do not have the pass will be able to enjoy three experiences as well as the Alpha Hub, a multiplayer gaming mode featuring a variety of settings and missions. Still, they will be ineligible for P2E incentives.

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According to OpenSea statistics, the floor price for Sandbox NFTs is currently approximately 1.019 Ether (ETH), which is about $4,284 at the time of writing. Since late 2019, the total exchange volume has been 39,700 ETH ($165.3 million).

For new users eager to get into the virtual game, Animoca Brands co-founder and chairman Yat Siu advised Cointelegraph that they should spend time exploring The Sandbox before purchasing tokenized land:

“I would recommend for people who want to experience it, you know, just go to the places, experience them, join the community on Discord, have a chat with them. See what it’s all about before you make the plunge to buy land because, you know, it’s like buying real estate anywhere in the world.”

“You’re not going to travel over to New York and say, ‘I’ll take that,'” he added.

The Sandbox secured a $93 million Series B fundraising round spearheaded by SoftBank Vision Fund 2 earlier this month. The project has been under development for four years, according to the company, and it will deploy its metaverse in “phased stages” in the future. According to reports, the funds will be used to expand The Sandbox by creating new games and live experiences and pursuing additional partnerships with well-known businesses and intellectual assets.

According to CoinGecko data, the price of SAND reached a new all-time high of $3.42 on Tuesday. SAND has been on a stratospheric rise in 2021, accumulating 8,663.5% in the last year.

Twitter Improves Bitcoin Lightning Tips Feature On Android

By
Christian Allen Tandoc
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0
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Twitter’s Bitcoin Lightning Tips service has been introduced for Android users. The feature, which will be available for iOS only in September 2021, allows users to set up a BTC Lightning address to collect tips from their followers.

Twitter has teamed with Jack Maller’s Strike lightning wallet to integrate Bitcoin into their service, as Bitcoinist reported a month ago. Currently, the payment company has established a Strike API platform to allow merchants to sell their products.

Back in September, when they took another move to bring Bitcoin into the mainstream, the social media behemoth said the following:

We want everyone on Twitter to have access to pathways to get paid. Digital currencies that encourage more people to participate in the economy and help people send each other money across borders and with as little friction as possible – help us get there.

Users must access their profile and click the edit icon to enable the feature. They will then discover the tip option, which they can enable and attach to one of the Bitcoin Lightning Network wallets. The software allows users to choose how they want to send their tips and who they want to send them to.

For several years, the social media site and its CEO, Jack Dorsey, have been BTC supporters. When utilizing a hashtag, BTC was the first and only cryptocurrency to acquire its own symbol. As Dorsey himself emphasized, he is the only one who receives it for free.

Through his firms, the executive has undertaken a number of steps to help Bitcoin and its development. Square crypto, a subsidiary of Dorsey’s Square, frequently provides financial assistance to BTC core developers in order for them to continue their work.

Dorsey has also used Bitcoin to sponsor numerous charities, non-profit organizations, and other causes. Dorsey invested 500 BTC in partnership with iconic musician Jay Z to create an endowment to provide cash for BTC development in Africa and India.

Dorsey has announced an attempt to develop a Bitcoin decentralized exchange (DEX) in order to increase acceptance and give everyone more accessible access to this cryptocurrency. The initiative recently released an 18-page whitepaper and will provide more information in the future.

As of press time, Bitcoin (BTC) is trading at $57,890, with the daily chart showing a horizontal trend.

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