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LG Dives Into NFT Realm With Hedera

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LG Electronics, a television company based in Seoul, has unveiled a new NFT platform utilizing the Hedera blockchain. LG is now adopting non-fungible tokens (NFTs) for its TVs, just months after Samsung revealed that it would do the same.

With LG Art Lab, the firm’s newly deployed NFT marketplace, you can “buy, sell, and enjoy high-quality digital artwork” right from your TV.

The app, which can be downloaded from the TV’s home screen, is currently only accessible to users in the US who own an LG TV running webOS 5.0 or later. 

The first of these drops, scheduled for September 22nd, will include a collection of NFTs with a metallic appearance.

LG’s NFT platform is built with the Hedera blockchain

However, LG claims that once the platform offers an NFT you can actually purchase, you can simply use the QR code that shows up on the screen and then launch the Wallypto app on your mobile device to finish the transaction.

Hedera, which bills itself as the “most used, sustainable, enterprise public ledger for the decentralized economy,” serves as the foundation for the new NFT platform. The Hedera network uses a blockchain alternative called hashgraph rather than the Ethereum or Solana networks, which many well-known NFT marketplaces support.

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LG Dives Into NFT Realm With Hedera 2

LG is just one of many businesses that make up the Hedera network’s governing body. Supporters of the system assert that it is quicker and more effective than conducting transactions on the blockchain.

The firm is not the first significant business to notice a possibility in the NFT market. In June, the Swiss watchmaker Tag Heuer unveiled a new tool that allowed users to display NFTs on the face of specific smartwatches.

Industry giants are spreading their wings and trying to get their hands on NFTs and metaverse. The firms are venturing into the possibilities to expand their virtual growth.

Tinder Is Backing Down From Its Metaverse and Web3 Plans

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The parent firm of the famous dating app Tinder, Match Group, has announced that it would reduce investment in Web3-related research and advancement in light of the business’s weak Q2 results and the departure of Tinder’s current CEO.

Match Group CEO Bernard Kim stated in a letter to investors on Tuesday that the company will be reducing its investments in the metaverse and abandoning plans to launch Tinder Coins, an in-app digital currency.

The move also coincides with Renate Nyborg, the first female CEO, quitting her position. Renate had originally outlined ambitions to launch the “Tinderverse” after purchasing the video-AI and augmented reality business Hyperconnect in 2021.

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Tinder Is Backing Down From Its Metaverse and Web3 Plans 4

Nyborg had envisioned Tinderverse

In order for Tinder customers to connect and communicate with each other in the future, Nyborg had envisioned Hyperconnect expanding its avatar-based “Single Town” experience.

While Kim did not specifically specify why Nyborg left, he did note that during the previous few quarters, the dating platform “has not been able to realize the monetization success that we generally provide.”

Kim stated in his letter that Match Group will keep an eye on the Metaverse but would rather wait till the “right time:”

Given uncertainty about the ultimate contours of the Metaverse and what will or won’t work. I’ve instructed the Hyperconnect team to iterate but not invest heavily in [the] Metaverse at this time.”

Tinder Coins, an in-app digital currency, had also been canceled, according to Kim, because of “mixed outcomes” from testing.

To guarantee that they can be a true engine for its next leg of development and help us uncover the platform’s latent power users, he continued, “We also aim to do more thinking on virtual products.”

“We’ll continue to carefully assess this market, and when the time is right and we have greater clarity on the entire potential and believe our service is well-positioned to succeed, we’ll think about going forward.”

Cloudflare Outage Brings Several Cryptocurrency Exchanges and Websites to a Halt

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Cloudflare, a major internet infrastructure provider, recently encountered extensive issues, causing several crypto exchanges to go down.

The content delivery network (CDN) revealed in a Tuesday update that it is experiencing problems with its services and network and that a remedy is in the works. However, the company has yet to explain what went wrong, resulting in the suspension of services throughout the world.

Crypto exchanges were affected due to the Cloudflare outage

FTX, a cryptocurrency exchange, announced on Twitter that many individuals would have difficulty accessing its platform and other sites, alleging that the exchange is currently in “post-only” mode. Bitfinex and OKEx, two cryptocurrency exchanges, also tweeted about the problem, with the latter inquiring whether there would be a Web3 option in the future.

Cloudflare, which went public around three years ago, provides businesses with a web network infrastructure that allows them to publish their content online. Security services, such as distributed denial of service protection, are also provided by the infrastructure (DDOS).

Binance seems to be unaffected, and one user asked CZ, “Why are all exchanges down except yours?” For this, CZ replied:

This isn’t the only time a Cloudfare disruption has reverberated across the cryptocurrency community. A similar disruption pulled Bitfinex, Coinbase, and other big websites to a stop in August 2020.

Aside from crypto exchanges, additional sites and applications with 500 internal server errors are now unavailable, including Indian brokerages Zerodha and Upstox, as well as messaging platform Discord.

Christie’s NFT Expert Joins Yuga Labs to Head CryptoPunks

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On Sunday, Christie’s leader of non-fungible tokens (NFTs) revealed that he would be joining Yuga Labs as brand leader for its newly acquired CryptoPunks collection.

Davis was in charge of bringing Beeple’s ‘The First 5,000 Days’ to sale at Christie’s. The $69 million price tag generated news at the time of the sale in March 2021, putting Beeple “among the top three most valued living painters.”

“I really can’t overstate how incredible this journey out of the old Art World and into Web3 has been and I can’t wait to see where the road ahead leads… I only know it will continue to be wild and weird. And I like it that way.”

Charlie’s NFT head will lead Crypto Punks

The Bored Ape Yacht Club was Yuga Labs’ main asset until recently (BAYC). However, in March of this year, the corporation purchased CryptoPunks’ intellectual property rights, a move that many assumed would imply that commercial rights would be handed over to NFT holders.

This sparked curiosity about the adjustments Yuga might make to the way NFTs may be used. Yuga promised at the time that it would not try to replicate the club concept it had built for BAYC but focus on adding value to Punk holders in various ways.

On Sunday, BAYC co-founder Garga said on Twitter that new terms for Punks would be released in the coming weeks.

The news of the recruitment comes as the CryptoPunk collection’s floor price and trading volume have skyrocketed. CryptoPunks sales volume reached $8 million in the previous 24 hours, up more than 230 percent from yesterday, according to statistics source Cryptoslam.

According to Coingecko statistics, the collection’s floor price began to rise even before the news was made on Twitter.

Samsung adds crypto wallet and storage features on the new Galaxy S22

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Tech giant Samsung introduced today at their Unpacked 2022 event the Samsung Wallet. It can contain personal IDs, including student IDs, driver’s licenses, and state IDs, plus digital house or vehicle keys, credit and debit cards, boarding permits, and immunization data. The wallet may also be used to “access and explore complicated digital items” such as cryptocurrencies.

The wallet facilitates safe payments, presumably using Samsung Pay. The Samsung Wallet will be supported across all Galaxy S22 series phones. However, it’s not foolproof if earlier Galaxy phones are supported.

User information on the Galaxy S22 series is safeguarded by Samsung’s Knox Vault technology, which leverages its own secure CPU and memory. It separates passwords, Blockchain keys, and other sensitive information from the phone’s primary operating system to keep it more secure.

Samsung putting up some competition with Apple

The Samsung Wallet is a new rival to the Apple wallet, allowing Apple customers to save identical payment details and personal data. Unlike Apple, Samsung has been keen on crypto for a long time. On May 13, 2021, Samsung announced that it would allow users to use blockchain on their devices with support for hardware wallets. Apple had recently revealed plans to provide Tap to Pay on the iPhone, hinting at the possible chance to include support for cryptocurrencies.

Samsung deep dives into the metaverse

The Galaxy Unpacked 2022 event was held in the Decentraland Metaverse. Samsung revealed their latest Galaxy smartphones at a virtual Samsung 837X venue. More than 100,000 people registered for the virtual event, which included the opportunity to pre-order the new premium cellphones.

In early January, the firm made its Metaverse debut by launching its flagship 837 shop in collaboration with Decentraland. “This is one of the largest brand land takeovers in Decentraland’s history,” the company claimed at the time.

Samsung is likewise seeking to get its hands on NFTs. They stated that starting with its 2022 TV range would provide broad support for NFTs.

“In 2022, Samsung will launch the world’s first TV-based NFT explorer and marketplace aggregator, a ground-breaking platform that allows you to browse, purchase, and show your favorite art in one location.”

Samsungs upcoming NFT TV platform

More data on the NFT platform should be accessible once the 2022 TVs start selling in the following months.

How an engineer hacked a Trezor wallet and recovered $2M in crypto

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Joe Grand, an electrical engineer, recently tweeted about how he hacked a Trezor wallet and recovered $2M. After forgetting his wallet passcode and seed phrase, he helped the owner retrieve cryptocurrency worth over $2 million.

Grand is an electrical engineer who has been hacking devices since he was ten years old. He was a member of the infamous L0pht hacking group, which testified before the US Senate in 1998 about a vulnerability that could be exploited to take down the internet or allow an intelligence agency to spy on traffic. His hacker name was “Kingpin.” He teaches hardware hacking to organizations and businesses that create complicated systems and want to know how hackers may attack them.

How did he crack the Trezor wallet?

Joe Grand said in his video, “a lot of people forget their passwords, and if you forget your password, then you can’t access the information on the chip, and you’re out of luck, and you’re out of money that’s the problem we’re dealing with today.”

He added that some guys contacted him out of the blue, saying that they have a trezor hardware wallet. They have a couple of million dollars stored on a device like this, and they want him to see if he can hack the wallet, defeat the security, and get access to the information to prove that the money is theirs.

“If he screwed something up, there was a good shot that it would never be able to be recovered,”

Reich, owner of the wallet

Grand, who runs a tailored lab in his family’s backyard in Portland, bought many similar wallets and placed the same version of firmware on them as Reich and his friend. Then he spent three months conducting research and experimenting with various approaches on his practice wallets.

Grand was fortunate in that he had past studies to help him. In 2017, Saleem Rashid, a 15-year-old hardware hacker from the United Kingdom, devised a technique to successfully unlock a Trezor wallet belonging to tech writer Mark Frauenfelder, freeing $30,000 in Bitcoin. Grand had put out a detailed video on the process on Youtube.

Are these wallets safe?

Ever since the video went viral, trezor wallet owners have been on the verge of doubt of how secure their funds are on the wallet. As a reply to Joe Grand’s tweet, Trezor replied:

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No matter what secured updates come, hackers will always find a loophole to crack it. Wallet owners don’t need to panic. There is no bad news here; keep your wallet safe and do not forget your password. It’s as simple as that.

Critical Privacy Vulnerability can Jeopardize 21 million Metamask Users Data, says Researcher

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Cryptographer and security analyst Alexandru Lupascu, the co-founder of OMNIA protocol, found Metamask vulnerable. During his recent research, he came across and pointed out that Metamask crypto wallet users could be in jeopardy and might lose all their digital assets.

In his recent medium article, he mentioned that he spent time with this team researching different NFT airdrop situations. They bumbled upon a scenario that could compromise the privacy of more than 21 million people.

“It’s quite a potent scenario, too, as it has the potential to be eight times more devastating than a Distributed Denial of Service (DDoS) attack. And I’m saying that after comparing it to some of the most notorious attacks to hit the news last year.”

Alexandru Lupascu

How dangerous is it?

Alexandru shows how a malevolent actor may create an NFT, transmit it to a victim, and acquire their IP address, putting their privacy at risk. This is a significant privacy flaw in the blockchain ecosystem that anyone may attack for as little as $50.

Do not undervalue the threat posed by IP leaks. Alexandru adds: if hostile actors obtain other information from the IP address (such as geolocation or GSM carrier), they may transform it into a physical threat, such as kidnapping.

Alexandru detailed how the invasion is carried out, from minting an NFT to sending it to the target, obtaining the victim’s IP address, and, finally, jeopardizing their privacy or stealing their crypto assets. He used the iOS Metamask software version 3.7.0 to test this attack, but it might also apply to Android.

Are the users safe now?

Alexandru identified the flaw in early December 2021, and after examining Metamask’s Mobile security policy, they contacted them on December 14, 2021.

They informed us that this is a known problem being addressed as part of a responsible disclosure schedule.

After the study went public, Daniel Finlay, the founder of MetaMask, verified the problem and pledged to resolve it as soon as possible. He also added, “Alex is right to call us out for not addressing it sooner. Starting work on it now. Thanks for the kick in the pants, and sorry we needed it.”

OTO Motors brings real-world car design into the Metaverse with its 3D NFT racing game

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OTO Motors, a new digital platform for racing and playing with 3D-car NFTs, introduces its OTOmobile NFTs designed like real cars. Applying physical car designs to its NFTs, OTO Motors offers a race-management experience for car enthusiasts and designers completely unrivaled in the digital space. 

As the physical world slowly begins to merge with the Metaverse, people are increasingly looking for ways to mesh the two, specifically in the car racing field. Aston Martin, one of the most recognized car brands in the world and a leader in automotive designs, recently released a collection of iconic NFT photographs. As the first Formula One team offering NFTs, Aston Martin’s Metaverse debut serves as a strong indication NFT racing is set to expand, and rapidly. For consumers to move their racing endeavors into the digital realm, the Metaverse will need physical-grade products to keep up.

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OTO Motors brings real-world car design into the Metaverse with its 3D NFT racing game 8

OTO Motors tackles this challenge by integrating real-world car designs into the Metaverse and upgrading the adventures of true racing enthusiasts. OTO offers a racing experience that consists of custom-designed NFTs, called OTOmobiles, with authentic car features developed in-house, similar to a real-world car manufacturer. Users enjoy an all-encompassing racing experience in the metaverse, with a fantasy-like racetrack and scenery. The cars are not bound by functional constraints that exist in the physical world, such as the need for headlights in the front of the car. Headlights and other functional exterior features become a design opportunity and can be placed wherever is deemed most aesthetic, enhancing the otherworldly feeling.

Drivers adjust their OTOmobile’s features in preparation for automated races that will be live-streamed on the platform. Participants will earn play tokens, called OTOKENs, which are dropped daily, allowing every member the opportunity to enhance their car. Similar to tokens on a standard smartphone game, they have no cash value, but facilitate a user evolution in the platform and access to car upgrades. A limited number of OTOmobiles from the presale event are available on Opensea, each having three different body kits, used to upgrade the car and increase the value of the NFT. The next round of mintings will begin in mid-January.

“Our cars are meant to simulate real-world experiences in the Metaverse, but also enhance them in a reality unconstrained by physical-world limitations,” says Chief Design Officer Eyal Melnick. “We want people to connect with the story of the Metaverse where things happen and look different and just experience the designs.”

Crypto Betting and Its Infrastructure in India

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Is Online Betting with Crypto Possible and Safe in India?

When it comes to online betting, one of the important factors to check on a site is the payment options. This determines how convenient your gaming experience will be. Fortunately, the majority of online betting sites today offer customers a plethora of payment solutions but now that many online industries are starting to adopt the use of cryptocurrencies, can you also bet with Bitcoin and other cryptos?

Definitely!

Cryptocurrency gambling has been practiced for a while now and many would say that it is convenient and safe. Cryptocurrency holders find that using Bitcoin or other cryptos is the best way to avoid restrictions or limitations that are in place in their location when it comes to gambling.

For example, in India, betting sites that don’t allow transactions if Rupees are prohibited. However, there is still no law that prohibits the use of cryptocurrencies in online casinos and bookies. This is why 10CRIC India Bitcoin betting is a hit in the country.

What to Consider When Betting with Crypto

While it is already possible to bet with Bitcoin, Ethereum, Cardano, and many other altcoins, there are still betting sites that don’t have this option yet. There are also gaming sites that only transact with their customers through the use of cryptocurrencies but most of the time, gaming options on those sites are a bit limited.

Aside from checking if you can use cryptos when betting on certain casino sites or bookies, there are also other important factors to consider. One of these is the reputation of the operator. You can easily check on this by visiting casino review sites. What’s great about going through review sites is that you get to have a deep insight as to how an operator treats its customers.

Most review sites these days are thorough when it comes to giving you all the details you need. It’s a one-stop place to check on details that matter like what payment options are available on the site, what real money games are offered, what kind of sports you can bet on, and many more.

It’s also best that you check on a site’s timelines for giving payouts to their customers. If you’ve been using cryptos for a while now, you probably already know that you may have to pay fees when processing payments. Generally, expect that minimal fees may apply when purchasing cryptos and transacting with them.

Many bettors would also consider how generous a bookie is concerning promos and bonuses. There are many types of bonuses that bookies would offer. Typically, for Bitcoin casinos and bookies, more bonuses are offered because they can afford to do so. On the business side of things, it’s mostly cheaper to process crypto payments compared to fiat currencies. With that, many of them are also trying to promote crypto transactions. Hence offering better bonuses to crypto users.

How Safe is Crypto Betting and What Are Its Other Advantages?

The majority of cryptocurrency users are quick to claim that usage of cryptocurrencies is the safest payment method. It is hard to manipulate Bitcoin transactions because it utilizes blockchain technology. Blockchain is a system of recording information that is impossible to change, hack, or cheat. Every transaction ever made with crypto is recorded and can easily be traced when needed.

Even if this is the case, privacy is still guaranteed because records will only show wallet addresses instead of the user’s actual information. That’s why many gamblers prefer using Bitcoin when playing online.

They get to avoid gambling-related transactions on their bank records. In some countries, people with gambling transactions in the past few months may not be allowed to take out loans or mortgages. With cryptos, this is something that they can avoid. Another advantage is that cryptos are still invulnerable to the impact of geopolitical tensions and government policies. There are only a few countries that have imposed a ban on the use of digital currencies and cryptos are decentralized in nature. This makes Bitcoin a versatile payment option.

If you’re traveling and you want to bet online, fiat currency exchange could be a hassle. You may also end up having less money value once you have your currency exchanged. All that can be avoided if you make transactions with cryptos instead. Since the recent all-time high of Bitcoin, many people showed more interest in cryptocurrencies and even NFT gaming. With that, we can expect that crypto usage will increase in the coming years. As this happens, more businesses including betting sites will be motivated to use cryptocurrencies too.

Binance NFT Marketplace set for the launch of Jimmy Choo collection

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Binance NFT Marketplace has been booming with a lot of new projects. In an announcement by the world’s biggest crypto exchange, it was revealed that Jimmy Choo will be releasing their NFT on the platform. The platform will be hosting the auction from 20th October.

Jimmy Choo will be releasing their NFT on the Binance Marketplace in collaboration with an artist from New York, Eric Haze. The famous clothing brand from Britain has teamed up with Binance, which will hold the sale from “2021-10-20 11:00 AM (UTC) to 2021-10-25 11:00 AM (UTC).”

Recently, we have observed a lot of firms shifting to the NFT industry, including McDonald’s China and even TIME Magazine.

Jimmy Choo NFT sale on Binance

The sale will be composed of two major events, both of which will happen at the Binance Marketplace. The first is the exclusive NFT auction, while the second is the sale of a mystery box series. These mystery box series will have the same price for every customer.

Regarding the technicalities, the world’s biggest crypto exchange mentioned in its announcement that the Jimmy Choo NFT collection will consist of 8,888 mystery boxes consisting of NFTs divided into 4 categories. These categories include a single Super Super Rate (SSR) NFT, super-rare cards, rare cards, and neutral cards.

On the other hand, the NFT auction will feature the tokenized version of the famous sneaker produced for the JIMMY CHOO / ERIC HAZE CURATED BY POGGY partnership.

NFT Marketplace booming

The NFT marketplace has been booming with a lot of action recently. We also witnessed the NFT collection by The Associated Press drop on the Binance network. This sale would consist of the historical events tokenized and made available for sale on the Marketplace.

With new firms entering into the world of NFTs, we have seen certain tokens getting sold for as much as $69 million. Artists, actors, and musicians have been actively participating in the industry, including Katy Perry, The Weeknd, DJ Paul Oakenfold, and Mila Kunis.