OpenAI has fired its co-founder and sent his project Worldcoin on a wild ride! Roblox is eyeing NFTs? Vitalik's digital painting sold for almost $400K and more!
We’re still thinking about Sam Altman and what actually happened at the OpenAI HQ 🤔 But we do know one thing - Worldcoin was going wild this weekend! Read on to find out why and also explore cool web3 products to move up in web3.
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Sam Altman's OpenAI Exit and Worldcoin's Market Response
Over the weekend, something happened! Yes, the Cricket Worldcup, alright, but we’re here to talk about Sam Altman.
OpenAI co-founder Sam Altman got fired from the company he helped come into existence, followed by numerous OpenAI employees potentially resigning. But, Sam’s got his eye-scanning world ID project that experienced a wild ride in token price following his firing. If nothing, this definitely highlights the sensitivity of crypto markets to leadership changes in related AI ventures.
💡 Worldcoin, Altman's project, is a global identity system using retina scanning that aims to provide each person on earth with a convenient way to verify that they are a real human and not a bot or an AI algorithm.
The project has faced scrutiny over privacy and centralization concerns, which aligns with the broader debate on ethical AI and blockchain integration.
📈 Market Response
🗓 November 16: The value of WLD reached a high of $2.48. However, the price started declining rapidly after Altman was outed by OpenAI on November 17.
As per CoinGecko data, WLD's value dropped to almost $1.84. Over 24 hours, it surged 12% to an intraday high of $2.54 before dropping back to $2.30 after Twitch co-founder Emmett Shear replaced Altman as CEO.
And… Computer scientist Jaron Lanier doesn't think Sam Altman’s Worldcoin project is a good idea.
Crypto educators Cryptobusy shared that WLD tried to break out but did not confirm above the key level resistance!
🤔 AI, Ethics, and Market Sensitivity
The Worldcoin price rollercoaster following Altman's departure reflects 2 things:
The oh-so volatile crypto markets.
The intricate relationship between AI project developments and crypto valuations.
This situation mirrors the ongoing challenges and debates around AI ethics, privacy, and the role of decentralization.
How do we reach the perfect Ethics x Privacy x Decentralization balance is the question? 👀
This news also comes as a reminder for anyone considering investing in crypto. Keeping up with these trends can help you make better decisions, whether it's for investment, using new tech platforms, or even just understanding the direction in which crypto is moving. 🚀
What are your thoughts on the interplay between technology leadership and cryptocurrency markets? 🤔 let us know is the comments below!
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Roblox CEO, David Baszucki, envisions a future where gaming transcends traditional boundaries, propelled by Non-Fungible Tokens (NFTs). In a CNBC interview post Q3 2023 earnings, Baszucki highlighted the potential of NFTs in transforming gaming experiences. He imagines a world where digital collectibles, possibly endorsed by icons like Elton John, could be traded beyond Roblox’s ecosystem. This vision aligns with the rise in digital assets' popularity and the growing trend of celebrity involvement in the virtual space. Despite a Q3 loss, Roblox shows promise with a 20% year-over-year booking increase, signalling robust user engagement and spending.
dYdX founder, Antonio Juliano, claims the DEX faced a targeted attack, leading to a $9 million insurance claim. This attack allegedly manipulated the Yearn.finance (YFI) market, causing a 43% token price drop and liquidating positions worth $38 million. Despite no user funds being impacted, dYdX utilized its v3 insurance fund to manage liquidation gaps. Juliano asserts this event, including the YFI market's manipulation, is under investigation. The incident, which erased over $300 million from YFI's market cap, raises concerns of potential insider involvement, with some pointing to significant holdings in a few wallets.
"EthBoy," a digital painting of Vitalik Buterin, has sold for a staggering 200 ETH ($392,308), marking a significant moment in NFT history. Created by artists Trevor Jones and the late Alotta Money, "EthBoy" first made waves in November 2020 with a 260 ETH sale. This latest transaction on OpenSea not only eclipses the initial price but also highlights the NFT market's evolving dynamics and value. The sale's acknowledgement of a 10% creator royalty, despite being optional, underscores a continued respect for creator rights. Additionally, the original owner MaxStealth benefits from shared creator fees, receiving over $13,000 from this sale.
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Let’s get into Posty’s fresh pecks from the world of web3!
🌟 Disney collaborates with Dapper Labs to launch 'Disney Pinnacle', an NFT platform featuring iconic Disney, Pixar, and Star Wars characters as digital pins. Built on the Flow blockchain, it aims to revolutionize fan interaction and collecting experiences globally.
🌱 Economist Nouriel Roubini, a vocal crypto critic, launches 'Atlas', a climate-focused digital token. Backed by diverse assets, it marks a surprising shift from his previous scathing stance on the crypto ecosystem.
🚨 Kronos Research halts trading amid an investigation into a $25 million hack involving 12,800 ETH stolen via compromised API keys. The firm assures that the loss is not substantial to its equity, aiming for a swift trading resumption.
⛓ ENS's Nick Johnson urges Unstoppable Domains to revoke a blockchain domain patent, alleging it's based on ENS's prior innovations. Johnson threatens legal action if the patent, claimed to lack novel contributions, isn't dropped, highlighting the clash over open-source principles in blockchain technology.
🇦🇷 Javier Milei, known for his Bitcoin-friendly stance, won Argentina's presidential election with over 55% votes. His victory suggests a potential shift in the nation's financial policies amid ongoing inflation, contrasting his opponent's CBDC-focused approach.
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