Damir First

Crypto spring is coming! Khairani Afifi Noordin and I profile two companies listed on the SGX Group's mainboard and Catalist board, who pivoted at the tail end of the last crypto bull run into crypto. SMI Vantage Limited and OIO Holdings Limited (Stock Code - SGX : KUX) were once retail businesses and M&E firms that suffered from the Covid-19 economic downturn. Hoping to ride the crypto high in 2021, the two diversified into crypto mining and staking as new business lines, only to find themselves in a deep crypto winter. The result? A continuous reporting of negative revenues. With business lines so tightly linked to the volatility of crypto prices, how are SMI Vantage and OIO Holdings minimising their risks? Can the upcoming bull run help them recoup their losses and hedge against the next downturn? “Fortunately or unfortunately, the gap between the bull and bear market is extremely large,” says OIO's Yusaku Mishima. “Fortunately, because there’s no other asset [in the world] that goes up over 200% in three or four months.”

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USDC Beats USDT In Transaction Volume By Over 400% https://ift.tt/Vv7FsX4 The seemingly unshakeable reign of Tether (USDT) as the king of stablecoins faces a new challenger. Circle’s USD Coin (USDC) has pulled off a surprise victory, recording a higher transaction volume than Tether in April 2024, according to on-chain analytics from payments giant Visa. This development marks a significant shift in the stablecoin landscape. While Tether boasts a staggering market capitalization of over $110 billion, USDC, with its $33 billion valuation, has emerged as the more actively traded coin. Visa’s data reveals USDC processed a whopping $456 billion – which is 400% more – in transaction volume last week, compared to Tether’s $89 billion. Stablecoin transactions. Source: Visa USDC: A Slow And Steady Climb This victory wasn’t a sudden overnight success. USDC has been steadily chipping away at Tether’s dominance since late 2023. Visa’s data shows USDC’s monthly transactions surpassed Tether’s for the first time in December 2023, with 145 million transactions compared to Tether’s 127 million. The April figures solidify this trend, with USDC clocking in at over 166 million transactions against Tether’s nearly 164 million. Source: Visa Experts point to several factors behind USDC’s rise. Increased regulatory scrutiny surrounding Tether’s reserves and ongoing concerns about its transparency may be driving users towards USDC, perceived as a more regulated and auditable stablecoin. Additionally, USDC’s partnership with Visa itself could be playing a role. Visa launched a stablecoin analytics dashboard in April, prominently featuring USDC alongside other major stablecoins. This increased visibility might be attracting new users to the platform. As of today, the market cap of cryptocurrencies stood at $2.2 trillion. Chart: TradingView.com Tether Still Holds The Crown (For Now) Despite USDC’s impressive transaction volume surge, Tether remains the undisputed king in terms of market capitalization. Its $110 billion dwarfs USDC’s $33 billion, indicating a much larger total value of outstanding coins. This suggests Tether is still the preferred store of value for many crypto investors, even if they aren’t actively trading it as frequently. Furthermore, Tether boasts a significantly larger user base. While USDC processed more transactions in April, Tether saw activity from over 34 million unique wallets compared to USDC’s 9.57 million. This could imply Tether is used for larger transactions or by a wider range of individuals, while USDC caters to a more active trading community. The Future Of Stablecoins: A Two-Horse Race? The battle between USDC and Tether is far from over. USDC’s recent success in transaction volume demonstrates its growing influence within the crypto ecosystem. However, Tether’s established user base and market cap dominance suggest it won’t be easily dethroned. The evolving regulatory landscape and user preferences for tra...

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Grateful. e27 (Optimatic) has published Part 1 of my three-part article “What living with the Big C has taught me about Web3”: https://lnkd.in/gD2AebxQ It was posted at 10 AM GMT +8, but it’s already the fourth most viewed article from contributors. I’m so happy because this is the first article I’ve written and submitted to e27 after my long hiatus to deal with living with cancer. “In particular, I felt exiled from Web3. “I was very active in Web3. I was then Head of Content of blockchain startup Playfix. Apart from this day job, however, I also hosted and was a guest speaker in Spaces and podcasts; moderated panel discussions at on-ground Web3 events; and became a member of Web3 communities and decentralised autonomous organisations such as the Plague of Frogs, Brawler Bearz, and Aswang Tribe. “I created content about Web3, blockchain, cryptocurrency, non-fungible tokens (NFTs), blockchain games (such as Cryptopia, Anito Legends, and GensoKishi Online), emerging subcultures, and the changing digital lifestyle. These included social media posts, as well as articles for different publications, among them e27, CoinMarketCap, The Playfix Chronicles on Medium, and my defunct Digital Life Asia. “I’m back because even though I’m physically weak and have a chemo brain, I’m convinced I can still contribute a lot to the growth of Web3 while I’m healing. I’ve been away for so long that I feel like a newbie again who must catch up on the latest trends and developments. As I’ve said, however, when e27 interviewed me for a work-life balance article, I saw the world through a beginner’s eyes. I’m eager to learn new things and share my knowledge with others.” Thanks again to e27 Editor Manisha Maity for taking a chance on this very long article and deciding to publish it in three parts. #MEITL #cancer #e27community #web3

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Once Human, is published by NetEase and developed by Starry Studios (Netease internal) is a just launched and hugely popular F2P Steam PC shooter. Its Concurrent users are blowing up. And suddenly so are its negative reviews. Why? Due to a badly worded privacy policy. At the center of the storm is a privacy policy that looks like it is custom written, is overbroad, and has ignited worries due to NetEase being both a Chinese publisher and a free to play microtransaction focused publisher. That said, the privacy policy issue has not stopped the CCUs from growing day by day. Whether there is a long term effect remains to be seen but at current, the bad press has not stopped its CCUs from exploding. There appears to be no actual impact on people playing the game. The game launched 2 days ago and is growing steadily day by day hitting new CCU peaks roughly every 6 hours. Its impressive having checked on it regularly. NetEase needs their legal to rewrite this. They also need to do some fast and careful PR. Not much else. ----- OnceHuman 162,081 playing an hour ago, 162,081 all-time peak Steam Charts: https://lnkd.in/gguikGW7 ----- RockPaperShotgun: "Once Human is the center of a storm of data privacy concerns over a policy line about collecting government ID. Developers Starry Studio insist they haven't broken the law" (Edwin Evans-Thirlwell) (July 12, 2024) "Free-to-play open world survival shooter Once Human has spent its first week in the wilds weathering complaints about its data collection practices, many of them directed at a line from publisher NetEase's privacy policy in which they state that personal information they receive from you may include "government-issued ID, such as passport information, as required by applicable laws for age verification and correction of personal information". You can read NetEase's privacy policy here. Link: https://lnkd.in/gRT4UPSG As pointed out by PCGamesN, NetEase are hardly alone in gathering this kind of data. The privacy policy for ZeniMax Media, for example, notes that "in limited circumstances" they may collect your "Social Security Number, driver’s license, precise geolocation, and personal information collected and analyzed concerning a consumer’s health". Blizzard's privacy policy, similarly, specifies that "in some very rare, specific and restricted cases, we may ask you to provide a copy partially obfuscated of a document or government-issued ID to verify your identity, location, and/or account ownership to comply with our legal obligations." As reported by Gamesradar, Jason Thor Hall, a former Blizzard and Amazon developer and nowadays, director of strategy for Offbrand Games, thinks the online reaction to Once Human's privacy policy is "fearmongering". In a Xitter post on Wednesday, he commented that the policy doesn't actively require you to hand over the personal info given under "Name & Contact details". RockPaperShotgun: https://lnkd.in/gJdakr4e #gameindustry #privacypolicy #netease

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South Korea’s share of weekly global trading volumes for AI tokens rose to as much as 18.7% in May from a low of 0.6% in mid-2023, Kaiko data show. Such tokens are typically issued by early-stage projects seeking to deploy blockchain technology for AI services — a marriage whose usefulness remains unproven. Research suggests many South Koreans are enamored of both AI and crypto. About 10% of the population has exposure to tokens, and volatile smaller coins — not market-leaders Bitcoin and Ether — comprise the bulk of local trading. https://lnkd.in/g2-fkvXe

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Great post George Hammick! You've succinctly explained some common misconceptions about NFTs and highlighted their potential beyond digital art. As mentioned, NFTs provide a way to certify ownership and authenticity in the digital realm, opening up exciting possibilities for digital goods and assets. The immutability and transparency of blockchain technology is key here. You also make a great point about the subjectivity of art value and how the market ultimately decides. The same principles apply whether we're talking about physical or digital art. I particularly liked your analogy comparing the current state of digital goods to having to leave your Nike shoes at the border every time you want to leave your district. Tokenisation really could revolutionise true ownership in the digital realm. Thanks for sharing these insights! Looking forward to seeing how NFTs and tokenisation continue to evolve and impact various industries. 🚀 #web3 #blockchain #digitalownership

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Exactly.ai secures $4.3M to develop #GenAI for #artists Freelance artists are experiencing massive labour disruption due to widespread adoption of generative AI. https://rb.gy/trsllq via Tech.eu by Lucy Adams #FemaleFounders #WomenInTech Exactly.ai's AI model allows artistic designs to be reproduced at scale and copyrighted by the original designer. These designs can then be sold or licensed to a wide range of organisations, from media outlets to ad agencies. Exactly.ai was founded in 2022 by Tonia Samsonova - a former journalist who went on to become a successful entrepreneur after securing an eight-figure exit for her Q&A platform, The Question, which was sold to Yandex, one of the biggest global competitors to Google. It has garnered 30,000 registered users from across the globe. Exactly's $4.3M funding round was led by Speedinvest and supported by InReach Ventures, Cornerstone VC and GuruDev Capital, as well as a series of international angel investors and funds. The investment will enable the company to further develop its model, hire and increase outreach to artists and creative professionals. Founder and CEO Tonia Samsonova said that “many professional artists have concerns over how [AI's] growing influence will impact their creativity and their livelihoods. But we are firm believers that there is a world in which the two not only exist, but work together to produce outstanding results.” “Our mission is not just to integrate AI into the artistic process, but to redefine the very essence of creation itself. This funding marks a pivotal moment for us – a chance to push the boundaries even further, ensuring that artists everywhere can harness the power of AI to bring their visions to life.”

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UPDATE: A reader suggested I ask Microsoft Copilot to summarize my writing about the Metaverse, and it did a somewhat better job than ChatGPT at first. Then proceeded to add embarrassingly bad errors, like saying my book describes Neal Stephenson as one of many "metaverse creators". 🤦‍♂️ 👇 I already have serious issues around copyright and LLMs, but I'm actually even more concerned LLMs will not only misrepresent my writing but make me look like an idiot. (That's my job!) https://lnkd.in/gtRUAszD

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Fascinating analysis on the anti-sybil farming strategy used by Layer-Zero asking sybils to self-report in return for a 15% reward, or forfeit 100% upon discovery- https: //https://lnkd.in/ecaTiS9k

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SEABW Panelists Unfold Diverging East-West Crypto Narratives for 2024 By Joe Pan, NFTMetta News Market narratives are everything in crypto. Few if any industries care more about market narratives than the underlying forces that can make or break a project’s fortune in this volatile space. As we head into 2024, diverging East-West narratives are emerging that could significantly shape the opportunities and flow of capital across the crypto markets. At the recent Southeast Asia Blockchain Week (SEABW) panel in Bangkok, top experts from venture capital, trading, advisory, and infrastructure providers gathered to unfold these contrasting perspectives between the established Western players and the rising crypto forces in Asia Speakers: Steve Lee (李承根) (Neoclassic Capital), Ryan Kim (Hashed), Casper Johansen (Spartan Group), Darryl Wang (@Tangent), and CYNTHIA WU (Matrixport). https://lnkd.in/gmkaBXDe Chayathorn T. @tokenx SCB TechX Gerelmaa Batchuluun SCBX Allen Cheng NFTMetta News Key Quotes: “There’s a lot more capital available in the West, just in general with the traditional markets and in crypto. And there’s a lot more in Web 3, a lot more users in Asia. Whether projects are based in North America or Europe, we really like to have quality Asian VCs or advisors involved because they need that kind of market access and market understanding. Capital is super important…but if you can get investors involved that really understand the markets, help give access, help make the right choices, avoid mistakes, [that’s] very valuable.”                                                                   –Casper Johansen (Spartan Group) “There’s a strong wall between East and West capital. The Solana frenzy this cycle is predominantly Western-driven, while the BRC inscriptions hype is driven by Chinese and East capital. Different geographies prefer different narratives – for instance, Westerners back projects like Stacks for specific use cases that differ from what resonates in Asia.”                                                                                — Darryl Wang (Tangent) “The narrative we see now is the convergence of tradfi and the crypto native world. Blockchain is the next-gen financial infrastructure where we’ll be trading the latest $3 trillion+ in real assets on-chain.”                                                                          –Cynthia Wu, COO, Matrixport

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These are the only 4 AI prompts that I use to understand a complex subject. They are simple. And they work.* I’ll explain with the help of Sanctum (https://lnkd.in/e9auj8MU), a Solana based liquidity pool with an advanced points system that uses cute pets, quests and LST re-allocation strategy. When I first started using Sanctum, I had no idea what an LST was. So I whipped out my prompts, and got to work. 𝑸𝒖𝒆𝒔𝒕𝒊𝒐𝒏: 𝑾𝒉𝒂𝒕 𝒊𝒔 𝒂𝒏 𝑳𝑺𝑻? 𝑷𝒓𝒐𝒎𝒑𝒕 1: 𝑬𝒙𝒑𝒍𝒂𝒊𝒏 𝒊𝒕 𝒂𝒔 𝒊𝒇 𝑰’𝒎 𝒔𝒊𝒙. Based on the insight of Richard Feynman, this prompt gets to the nitty-gritty of your question. And because AI loves using cliche analogies, you can now combine fun with your thirst for knowledge. Don’t like the analogy? Then ask for another. 𝑷𝒓𝒐𝒎𝒑𝒕 2: 𝑬𝒙𝒑𝒍𝒂𝒊𝒏 𝒊𝒕 𝒂𝒔 𝒊𝒇 𝑰’𝒎 𝒂 𝒕𝒆𝒆𝒏𝒂𝒈𝒆𝒓. You’re using this next step to build the second floor of your Lego tower of knowledge. Deepening your insight, adding layers of nuance, more complex analogies.   𝑷𝒓𝒐𝒎𝒑𝒕 3: 𝑬𝒙𝒑𝒍𝒂𝒊𝒏 𝒊𝒕 𝒂𝒔 𝒊𝒇 𝑰’𝒎 𝒂 𝒈𝒓𝒂𝒅𝒖𝒂𝒕𝒆 𝒔𝒕𝒖𝒅𝒆𝒏𝒕 The basics are locked in. Now, it’s time to start building the middle floors of your LLM hotel. Prompt 3 adds details, examples, further reading and raises the technical nuance you'll need for prompt 4. Again, see how they are building off each other? Layer upon layer upon layer.   𝑷𝒓𝒐𝒎𝒑𝒕 4: 𝑬𝒙𝒑𝒍𝒂𝒊𝒏 𝒊𝒕 𝒂𝒔 𝑰𝒇 𝑰’𝒎 𝑷𝑯𝑫 𝒑𝒓𝒐𝒇𝒆𝒔𝒔𝒐𝒓 Not since Chuck Palahniuk have analogies been this much fun. Prompt 4 is where you combine surrealism with your thirst for knowledge, weaving the ingredients of a Dali into some kind of monstrous food and animal smorgasbord tapestry of information and artificial enlightenment. 𝑩𝒐𝒏𝒖𝒔 𝒑𝒓𝒐𝒎𝒑𝒕 5: 𝑬𝒙𝒑𝒍𝒂𝒊𝒏 𝒊𝒕 𝒍𝒊𝒌𝒆 𝑰'𝒎 𝑬𝒊𝒏𝒔𝒕𝒆𝒊𝒏 PS - If you don't like reading, simply click on the link to my Loom video to see the prompts in action. #solana #aiprompts #thinkingonpaper

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Some takeaways from Prompt Engineering for Localization workshop. 1) Be concise: it's better to chain up 2-3 short prompts than to cram instructions into a single long one 2) Retrieval = cost killer. RAG reduces the cost of using glossaries with GenAI translation by 90%. While it already works for glossaries, fuzzy match repair with RAG is around the corner. 3) vision models are great, they reliably translate text in images (f.ex. PDF scans), caveat: not yet tested on a large scale. 4) Spreadsheets + GenAI = transcreation ❤️ 5) It was great to see so many people industrializing GenAI - multilingual content generation, copy creation, translation with glossaries, and terminology are some of the scenarios participants showcased. Overall the event was over capacity, I expected 100 people, and 200 joined. We broke the integrated Google spreadsheets and had a chaotic time getting everything to work on day 1, but sailed smoothly on day 2. - 535 prompts created - 38,947 inference generations So far. Next workshop - June 18, before the TAUS conference in Rome.

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