Sam’s Club delights members with their latest virtual winter wonderland, primed for gifting and festive home shopping. The warehouse retailer partnered with Obsess to launch an innovative seasonal experience that up-levels their e-commerce presence, thoroughly engaging online members and driving holiday online shopping and gift-giving from their vast inventory of family-friendly favorites. Set in a 3D pop-up card from the Sam’s Club team, the virtual experience welcomes visitors with jolly decorations, a jingly festive anthem and cozy animations.
The virtual holiday experience enables members to purchase holiday favorites directly from the virtual store. Visitors can explore products in a charming winter wonderland filled with gently falling snow and warm holiday ambiance. With full e-commerce functionality, members can add any product to their cart directly in the experience and purchase. Those that complete the Holiday Hunt game even get 20% off their next Sam’s Club Hub order. For non-members: the experience also promotes free trials to try out the perks of membership.
Shoppers can discover something for everyone in the holiday Gift Shop—stocked with a wide range of products such as matching plaid for the whole family or LEGO sets for the kid-at-heart, this section of the experience is filled with gifts galore. Visitors can explore products from tech gadgets to luxe designer beauty (curated by influencer Remi Bader), or take a gift recommendation quiz to find the perfect presents for their loved ones.
At the Decor Inn, users can find cozy home decorations with beautifully crafted displays fit for every style. From everyday artisan rugs to festive mini trees and nutcrackers, the room is filled with a variety of seasonal and evergreen products for members to purchase. Above a crackling fireplace, visitors can even watch Sam’s Club’s latest commercial promoting their speedy service.
In addition to a seamless e-commerce experience, the virtual experience gives users a comprehensive view of how seasonal products fit into everyday life. Between the twinkly lights, wreath-lined mantles and complete indoor/outdoor setups, there is no shortage of holiday inspiration. Enhanced visualization in immersive environments empowers users to picture how products work for their needs, such as how a 9’ pre-lit tree can fit in their living room.
This innovative approach to promote gifting and holiday shopping further connects members to the brand and thoroughly engages online shoppers. The Sam’s Club virtual holiday experience plans to expand, opening a Grocery store in the illustrated winter village—offering users a fuller idea of Sam’s Club’s inventory.
To learn more about how to create your own virtual brand world, email us at contact@obsessvr.com or book a demo.
Published: October 29, 2024 at 11:57 am Updated: October 29, 2024 at 11:57 am
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Although blockchain technology is often praised for its decentralization and transparency, it does not inherently offer privacy.
A distributed ledger safely keeps track of all transactions, and anyone with access to the blockchain can view them. As a result, many individuals and companies might be reluctant to use blockchain networks, especially for private financial transactions.
After all, a transaction can reveal an excessive amount of information about them. Malicious actors can track wallet addresses, keep a tab on asset transfers, and even figure out patterns of transactions. This enables them to link addresses to people, spot substantial transactions, and exploit that information for illicit activities like fraud, extortion, and data breaches.
Individuals aren’t the only ones who care about privacy; big businesses do, too, and that’s often what’s stopping them from fully adopting blockchain.
Businesses deal with several pieces of sensitive information like trade secrets, customer records, and financial information. If any such information ends up on a public blockchain, it could lead to identity theft and financial loss and might even damage their reputation.
Ensuring privacy not only helps keep all of that valuable information safe but also helps companies maintain a competitive edge by preventing competitors from accessing their plans or secrets.
On top of that, privacy rules are very strict in some sectors, such as healthcare in the United States and under Europe’s GDPR. Violating these laws can lead to heavy fines, but by integrating privacy measures on the blockchain, businesses can ensure compliance and stay out of trouble.
Privacy can also enable businesses to build trust. People who buy, work with, or invest in a business want to know that their data is safe. A big part of earning that trust is showing that you care about their privacy.
In the future, privacy will become even more important. After all, as the number of businesses adopting blockchain grows, so will the sheer amount of data. This could spell trouble as security breaches snowball into catastrophic breaches affecting millions.
Along with that, as technology advances, hackers will become even more sophisticated, so privacy safeguards need to improve as well. Additionally, consumers are now more aware of their right to privacy and prioritize businesses that can demonstrate strong privacy practices. This trend will become even more prominent in the future.
So, how can businesses using blockchain protect their privacy? By having a solid blockchain security plan. IBM defines blockchain security as a ‘comprehensive risk management system’ for a blockchain network. The tech giant believes this system should include ‘cybersecurity frameworks, assurance services and best practices to reduce risks against attacks and fraud.’
However, adopting these practices, especially at an enterprise scale and for something as complex as user identity, is a tough act to follow. Yet, one company that has been doing great work in this space is the Data Ownership Protocol.
The blockchain-based decentralized world is founded on the principles of reclaiming control and custody of personal data from monopolistic centralized institutions. However, while preserving the essence of decentralized data sharing, it is crucial to safeguard this data from external malicious actors and fraudsters.
The flexible transparency introduced by DOP ensures that users can choose what to share and with whom, including the visibility of specific tokens or the amount of assets.
Yet, the uniqueness of DOP’s service offerings does not mean it operates outside the rule book. The company is committed to implementing regulation-friendly privacy. To deliver on its commitment, DOP has collaborated with industry leaders like Chainanalysis and zkMe.
Chainanalysis is a forerunner in the crypto regulation space and can effectively deliver compliance management solutions for regulatory and operational safety. It also helps avoid interactions with sanctioned activities. zkMe, on the other hand, is the world’s first zk identity oracle that offers anonymous user verifications on-chain for increased security and privacy.
Altogether, DOP’s transparency stems from a robust support infrastructure. DOP is well aware of the issues institutions might face when preparing for large-scale blockchain adoption.
The world of blockchain is diverse. It has public and private networks, permissionless blockchains, and permissioned blockchains. Providers and users, keen to steer through this diverse world efficiently, can fall prey to different sorts of attacks, from code exploitation to employee computers being hacked. There could be 51% attacks, routing attacks, Sybil attacks, Phishing attacks, and more. Therefore, efficient security systems are a must.
However, often, security comes at the cost of compromised efficiency. DOP is a standout example in this aspect as well. It does not let down the users’ experience of the protocol.
Efficiency Uncompromised: User Experience Enhanced
DOP ensures its service is fast, easy to use, highly compatible, easily accessible, and user-friendly. It prioritizes collaboration and interoperability and has made its service fit for seamless integration with leading wallets and dApps. While zkMe and Chainanalysis are DOP’s core collaborators, it has an official collaboration with Polygon and Layer. It is audited by Hacken.
Its technology is capable of leveraging zk-SNARKS and ECDSA, the most advanced techs in this field, to give users the power to finely tailor the details they disclose about their assets and transactions while maintaining smooth compatibility with Ethereum dApps and liquidity.
Efficient operations for DOP means tokens being managed in an external pool, facilitating transfers from external wallets and removing the information from the public, verifying token ownership and transactions without revealing sensitive information, users interacting with the protocol for wallet-to-wallet transfers, ensuring confidentiality and security, and transactions between DOP wallets not leaving on-chain records, enhancing confidentiality.
Overall, DOP envisions a future where individuals, businesses, safe havens, and even single wallets – all can benefit from its services. While users can transact with selective transparency and explore DeFi platforms without exposing them to irrelevant parties, businesses can build trust by blocking any sort of tainted funds flowing into their system.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
We are excited to announce the publication of “Interoperability is a Fundamental Requirement for the Open Metaverse,” in the proceedings of the 2024 IEEE International Symposium on Emerging Metaverse (ISEMV) held in conjunction with this year’s IEEE Symposium on Mixed and Augmented Reality (ISMAR).
The paper defines technological interoperability and makes the case that an open and inclusive metaverse must prioritize interoperability in order to integrate with past, present, and future IT components. The paper advocates for collaboration within and across industries to create standards that enable innovation and integration at scale.
In the paper, Forum board member Christine Perey explores how the rapid evolution of metaverse technologies hinges on the ability to connect and integrate diverse systems at scale. Risks posed by siloed, proprietary platforms include fragmentation and barriers to innovation. Without interoperability, developers and customers will suffer from “lock in” and be unable to easily choose and personalize their user experiences. Perey outlines three zones where the Forum’s members are advancing the development of interoperability but stresses that there are many more requirements that will need similar investment for success. By identifying requirements in Forum working groups, members are helping Standards Development Organizations to prioritize their metaverse standardization efforts. These efforts are crucial in enabling the full potential of immersive experiences and digital interactions.
By bringing together over 2,600 members, including technology providers, developers, and standards organizations, the Metaverse Standards Forum acts as a hub for pre-standardization discussions, the development of interoperability frameworks, and the promotion of existing and emerging standards. Its working groups are tackling vital areas such as 3D asset interoperability, real/virtual world integration, and identity management, ensuring that the foundational building blocks of the Metaverse are open and interoperable across platforms. This work paves the way for a more inclusive, scalable, and innovative Metaverse.
The Metaverse Standards Forum is actively working on interoperability initiatives shaping the future of the Metaverse. Join us in this mission!
Please read the full paper here, this is also available in the IEEE Xplore library. Please also explore the slides from the ISEMV presentation.
Published: October 28, 2024 at 6:51 am Updated: October 28, 2024 at 6:52 am
by Ana
Edited and fact-checked:
October 28, 2024 at 6:51 am
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In Brief
CoinShares noted that total inflows for the year have reached $27 billion, nearly tripling the previous record of $10.5 billion set in 2021.
European alternative asset manager specializing in digital assets, CoinShares, published its latest report, indicating that digital asset investment products experienced inflows of $901 million this month, accounting for 12% of the total assets under management, making it the fourth-largest month for inflows on record. Overall, total inflows for the year have surpassed $27 billion, nearly tripling the previous record of $10.5 billion set in 2021.
The United States led the way with inflows of $906 million, while other regions showed varied results. Germany and Switzerland witnessed inflows of $14.7 million and $9.2 million, respectively, but Canada, Brazil, and Hong Kong saw modest outflows of $10.1 million, $3.6 million, and $2.7 million, respectively.
Bitcoin was the primary focus, generating inflows of $920 million. Interestingly, this surge was not mirrored by inflows into short-Bitcoin positions, which experienced minor outflows of $1.3 million. CoinShares suggests that current Bitcoin prices and inflows are heavily impacted by US political dynamics, particularly the recent rise in poll numbers for the Republican Party.
In contrast, Ethereum faced the largest outflows of any asset last week, totaling $35 million, while Solana registered the second-largest inflows at $10.8 million.
Furthermore, blockchain equities are showing signs of recovery, with inflows for the third consecutive week amounting to $12.2 million last week.
Bitcoin And Ethereum Record Price Gains Amid ETF Market Activity
As of the writing time, Bitcoin is priced at $68,541, indicating an increase of 2.22% in the past 24 hours. During this period, the cryptocurrency’s trading range varied between $66,968 and $68,546. Interestingly, Bitcoin started the week positively, coinciding with considerable inflows into spot Bitcoin exchange-traded funds (ETFs).
In contrast, Ethereum has experienced a price increase of 2.60% over the last 24 hours, now trading at $2,534. The intraday trading range for Ethereum was recorded between $2,462 and $2,537, according to CoinMarketCap. However, it is noteworthy that the coin’s recent upward movement appears, despite outflows from spot Ethereum ETFs observed over the past week.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa Davidson
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
In the rapidly evolving world of the metaverse, few projects have captured as much attention as Metahero (HERO). With its focus on ultra-realistic 3D avatars and digital assets, Metahero aims to redefine how we interact with the virtual world. This article dives into what makes Metahero unique, its key features, the technology behind it, and how it is positioned to play a pivotal role in the metaverse ecosystem.
What is Metahero?
Metahero is a blockchain-based project designed to bridge the gap between the physical and virtual worlds. Leveraging advanced 3D scanning technology, Metahero allows users to create lifelike avatars that can be used across metaverse platforms. The project’s native token, HERO, facilitates transactions within the Metahero ecosystem, enabling users to buy, sell, and trade digital assets and experiences.
The Vision of Metahero
The vision behind Metahero is ambitious. In a world where the metaverse is becoming increasingly central, Metahero seeks to offer a solution that brings hyper-realistic digital identities to life. Unlike traditional avatar creation tools, which often result in stylized or cartoonish avatars, Metahero’s approach ensures that every scan is as close to the real person as possible. This is achieved through its partnership with Wolf Digital World (WDW), a 3D technology company known for producing the highest fidelity 3D scans in the industry.
Key Features of Metahero
Ultra-Realistic 3D Scanning: Metahero’s technology captures the minutest details of a person’s appearance, resulting in an avatar that looks almost identical to them. The scanning booths are equipped with 200 Sony A7R cameras capable of creating avatars in stunning detail.
Digital Asset Creation: Beyond avatars, Metahero enables the creation of digital assets. This could range from in-game items and virtual collectibles to artwork that can be minted as NFTs (non-fungible tokens).
Metahero’s Ecosystem: The HERO token serves as the backbone of the Metahero ecosystem. Whether users are looking to scan themselves, acquire a digital asset, or engage in metaverse transactions, HERO is the primary medium of exchange.
Interoperability Across the Metaverse: Metahero’s 3D avatars and assets are designed to be compatible with multiple metaverse platforms. This ensures that users can have a consistent digital identity across different virtual worlds.
Focus on Privacy and Ownership: Unlike centralized avatar creation platforms, Metahero prioritizes user privacy and ownership. Users have full control over their avatars and assets, thanks to blockchain technology that guarantees secure ownership rights.
How Metahero Works
The Metahero ecosystem revolves around its 3D scanning booths located in strategic locations worldwide. Users step into these booths to create a high-fidelity avatar that can be stored on the blockchain. Here’s a simplified breakdown of the process:
Step 1: Scanning: Users enter a Metahero scanning booth, where multiple cameras capture their 3D image from every angle.
Step 2: Avatar Creation: The raw scan data is processed and converted into a 3D avatar using advanced software. This avatar can then be exported for use in compatible metaverse environments.
Step 3: Transactions with HERO: To finalize the scan or to acquire any digital asset, users pay with the HERO token.
Metahero Token (HERO) and Its Role in the Ecosystem
The HERO token is an integral part of the Metahero ecosystem. It enables transactions within the platform and ensures that users can purchase, sell, and trade 3D avatars and other digital assets seamlessly. HERO is also traded on major cryptocurrency exchanges, allowing investors to support the project directly.
The token has been designed with a deflationary model, meaning a small percentage of HERO tokens are burned with each transaction, reducing the overall supply and potentially increasing the token’s value over time.
Metahero’s Place in the Metaverse
As the metaverse continues to expand, Metahero offers a unique proposition by focusing on ultra-realism. The ability to create digital identities that closely resemble real individuals has applications in gaming, social media, virtual events, and e-commerce. By providing a way to bring real-world assets into the digital realm, Metahero enhances the value of virtual experiences and broadens the scope of what can be achieved in the metaverse.
Future Prospects and Roadmap
Metahero is committed to expanding its ecosystem by deploying more scanning booths worldwide and forming partnerships with leading metaverse and gaming platforms. As the metaverse continues to mature, Metahero’s high-quality avatars are likely to be in high demand for users who want a digital presence that mirrors their real selves.
In the world of blockchain technology and the metaverse, Metahero stands out as a project focused on creating a truly immersive digital experience. With its HERO token fueling a dynamic ecosystem of 3D avatars and digital assets, Metahero is poised to play a significant role in shaping the future of the metaverse. Whether you’re an investor, a metaverse enthusiast, or simply curious about the next frontier of digital interaction, Metahero is a project to keep an eye on as the boundaries between reality and the virtual world continue to blur.
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The launch date for Google’s Gemini 2.0 model has been officially announced, creating excitement in the tech community. After introducing its first version last December, Google is set to release Gemini 2.0 this December, aiming to expand its user base and deliver enhanced capabilities.
Gemini 2.0: Details Awaited as Performance Expectations Rise
Gemini 2.0 follows the initial Gemini 1.0 and its various iterations: 1.0 Pro, integrated with Bard, the Nano model included in the Pixel 8 Pro, and the 1.0 Ultra, which launched on Gemini Advanced in February. Gemini 2.0’s release will occur after the February launch of Gemini 1.5.
Reports suggest that while Google aims for Gemini 2.0 to deliver improved performance, initial evaluations indicate that the advancements may be modest, a challenge faced by other companies developing large models. Additionally, the launch of Project Astra is anticipated to add camera and visual enhancements to Google’s Gemini Live platform.
Meanwhile, OpenAI is also set to unveil a new model in December, though specific details remain under wraps.
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Microsoft’s Potential Bitcoin Investment Sparks Debate for December Shareholder Meeting
A noteworthy development has emerged regarding US-based tech giant Microsoft. The company has revealed plans to discuss Bitcoin investments at its upcoming shareholder meeting on December 10, 2024. While Microsoft’s Board of Directors has shown reservations about the idea, investor perspectives on this topic are also of high importance and could shape the final decision.
According to a recent filing submitted to the U.S. Securities and Exchange Commission (SEC), Microsoft will address several agenda items at the meeting, one of which includes a proposal for investing in Bitcoin. The idea stems from the recommendation of a think tank that believes in Bitcoin’s potential for financial resilience.
Why Is Microsoft Considering Bitcoin?
Supporters of the Bitcoin investment proposal argue that Bitcoin could serve as a hedge against inflation, helping Microsoft to protect its assets from inflationary pressures. They see Bitcoin as an exceptional investment tool with potential benefits for Microsoft’s long-term financial strategy.
However, the Board of Directors has expressed skepticism, labeling the proposal as “unnecessary.” According to Microsoft executives, the company already evaluates a variety of investment avenues, which include but are not limited to Bitcoin. The shareholder meeting on December 10 will shed light on whether investors’ voices will influence Microsoft’s stance on Bitcoin.
This decision could mark a significant shift in Microsoft’s investment strategy if shareholders advocate for it.
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Published: October 25, 2024 at 3:00 pm Updated: October 25, 2024 at 11:39 am
by Ana
Edited and fact-checked:
October 25, 2024 at 3:00 pm
To improve your local-language experience, sometimes we employ an auto-translation plugin. Please note auto-translation may not be accurate, so read original article for precise information.
In Brief
Binance’s latest paper explores the impact of spot BTC ETFs on market demand, liquidity, and adoption trends, revealing their significant influence on the market supply.
Examining these dynamics, the latest Binance paper, “Spot ETFs in Crypto Markets,” describes how spot BTC ETFs affect market demand, liquidity, and adoption trends.
Major capital has quickly poured into spot bitcoin exchange-traded funds, with holdings already totaling over 938,700 BTC, or over $63.3 billion. This number, which amounts to almost 5.2% of the entire supply of Bitcoin, highlights the extent to which spot BTC ETFs are influencing the market. Large net inflows of over 312,500 BTC support this demand, demonstrating the function of these ETFs in promoting consistent demand and lowering market supply.
As part of a larger trend toward securitizing digital assets, spot Bitcoin ETFs have been introduced, making them more accessible to investors who would otherwise prefer to interact with cryptocurrency through conventional financial instruments.
With ramifications for price dynamics and liquidity, the magnitude of these inflows demonstrates that spot BTC ETFs are more than just financial instruments; they are increasingly playing a key role in the structure of the Bitcoin market. Although the ETF mechanism is not new to the financial industry, its use in the cryptocurrency field has revealed demand levels that surpass even those of the first gold ETFs, indicating that Bitcoin ETFs have a distinct appeal.
ETF Divergence and Comparison with Gold ETFs
Gold ETFs, which are seen as more stable and have set a pattern for asset-backed funds in the past, grew very modestly in their early stages, drawing just around $1.5 billion over a similar period of time. However, in less than a year, BTC ETFs have amassed almost $18.9 billion, demonstrating the increased interest in Bitcoin as a hedge against wider economic volatility as well as a speculative asset. Remarkably, although just 95 institutions invested in gold ETFs in their first year, over 1,200 institutions have already invested in bitcoin ETFs.
However, Ethereum (ETH) ETFs have not been as successful as Bitcoin ETFs. Ethereum ETFs have had withdrawals of almost 43,700 ETH, or $103.1 million, according to the Binance data, with negative flows occurring in eight of the first eleven weeks.
With Bitcoin becoming a more popular digital asset for ETF investments, this disparity between BTC and ETH ETFs points to a shift in investor interest and market sentiment. Bitcoin’s status as the first cryptocurrency and its reputation as a digital store of wealth may be contributing factors to this trend since it appeals to more cautious investors.
Institutional and Non-Institutional Investors’ Contribution to the Growth of Bitcoin ETFs
The involvement of both institutional and non-institutional investors has greatly aided the growth of spot BTC ETFs. Strong interest in these products has been shown by non-institutional investors, who make up around 80% of demand. Retail investors and individual traders that prefer the ease of getting Bitcoin exposure through ETFs rather than personally managing wallets, keys, and exchanges make up this investment base.
There has also been a noticeable increase in institutional investment in Bitcoin ETFs. Due mostly to financial advisers, whose Bitcoin holdings surged by 44.2% to reach 71,800 BTC, institutional holdings have grown by almost 30% since Q1. The move toward more regulated and controlled access to digital assets is reflected in institutional investors’ slow acceptance of Bitcoin ETFs.
However, it is anticipated that a full-scale institutional adoption involving banks, consulting services, and broker-dealers would be a slow process that takes years to complete. Such a shift may make Bitcoin and other digital assets more widely accepted by bringing them into the mainstream of international financial markets.
Bitcoin’s Convergence with Traditional Finance (TradFi)
The Binance study highlights a noteworthy trend: the growing link between Bitcoin and conventional financial assets, namely the S&P 500 index. This increasing link, which has been stronger since the beginning of 2024, points to a change in how investors see Bitcoin. Bitcoin is now seen as both a risk-on asset and a hedge against macroeconomic uncertainty, whereas before, it was thought to be mostly uncorrelated. This dual role is a reflection of investors’ changing perceptions, as many now view Bitcoin as both a growth-oriented asset and a possible buffer during periods of market volatility.
Both market stability and investment methods are impacted by Bitcoin’s convergence with traditional finance. As the cryptocurrency market starts to act more like other well-known asset classes, for example, the stronger connection with stocks may indicate that the market is maturing. Furthermore, the interaction between conventional financial assets and digital currencies is anticipated to intensify as institutional players devote higher percentages of their portfolios to BTC ETFs, therefore reinforcing Bitcoin’s place in conventional investing frameworks.
The Impact of Spot BTC ETFs on Market Volatility and Efficiency
In addition to creating direct demand for Bitcoin, spot BTC ETFs have had a major impact on the cryptocurrency market overall through second-order impacts. Spot BTC ETFs make up an average of 26.4% of Bitcoin’s spot trading volume, with occasional peaks of 62.6%, according to the Binance report. Due to the ETF mechanism’s introduction of a more controlled form of demand for Bitcoin, this sizeable proportion has helped to improve market efficiency and lower volatility. These ETFs’ reliability can sustain more consistent price patterns, drawing even more traders to the market.
Venture capital is becoming more interested in spot BTC ETFs due to their liquidity, which allows for a broader market inclusion that goes beyond Bitcoin to include a range of blockchain-native assets. The market may become more stable and liquid as a result of this expanding on-chain presence, which is being driven by ETF demand both directly and indirectly. For instance, the greater legitimacy and liquidity offered by spot BTC ETFs may spur new development in the tokenized RWA space.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria d’Este
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
Published: October 25, 2024 at 8:11 am Updated: October 25, 2024 at 8:11 am
To improve your local-language experience, sometimes we employ an auto-translation plugin. Please note auto-translation may not be accurate, so read original article for precise information.
Texas, the foremost mining epicenter in the United States, has historically been a strategic cornerstone for Bitmain’s relentless pursuit of mining dominance. However, a stunning reversal has occurred as all of Bitmain’s air-cooling miners, particularly the prestigious Antminer S19 series, have been compelled to cease operations in Texas. The official evaluation is unequivocal: Texas’s extreme climatic conditions, characterized by soaring heat and oppressive humidity, are deemed inimical to the effective functioning of air-cooling antminers.
The maintenance predicament within the Antminer S19 series operating in Texas is stark. Units in optimal condition face a 40% repair rate, while those in suboptimal condition experience a staggering 100% repair rate. This led to the gradual withdrawal of the Antminer S19 series from Texas shelves in mid-June this year, coinciding with a notable decline in the network’s overall hash rate around June 16th.
At the heart of this issue lies severe corrosion within the hashboards of the Antminer S19 series, particularly the S19K Pro model. The stark contrast in coloration between the air inlet side and the rest of the hashboard is a tangible manifestation of this corrosion, which has been exacerbated by the harsh Texas weather.
Upon closer scrutiny, it becomes evident that this predicament stems not merely from environmental factors but from the inherent design flaws of Bitmain’s miners. The continued use of compact heat sinks, while effective for thermal dissipation, has proven to be a double-edged sword under certain conditions.
The Bitmain’s Antminer S19K Pro, in particular, adopts a heat dissipation structure reminiscent of the two-sided small radiator of the Bitmain’s Antminer S17, which, under certain circumstances, has proven to be highly susceptible to damage. These circumstances include:
Firstly, Transportation Vulnerabilities:
The small radiator’s sensitivity to vibrations makes it prone to dislodgement during transit, especially under bumpy conditions or inadequate packaging.
Secondly, Rapid Temperature Fluctuations:
As evidenced by the Bitmain Antminer S19K Pro’s fluctuating hashrate and increased power ratio with rising ambient temperatures, its small heat capacity exacerbates the impact of rapid temperature changes. This can lead to damage even in the absence of extreme conditions.
Thirdly, Moisture-Induced Chip Cracking:
After shutdowns spanning a few days, the limited protection offered by the small radiator leaves the chip vulnerable to moisture absorption, which can cause cracking upon restart.
In conclusion, Bitmain’s Antminer S19 series has encountered a formidable challenge in Texas’s unforgiving climate, revealing the limitations of their current design approach. As the mining industry continues to evolve, it will be imperative for Bitmain and other manufacturers to adapt their designs to withstand the rigors of varying environments, ensuring reliability and longevity amidst the relentless pursuit of mining dominance.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
More articles
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
In the world of cryptocurrency and NFTs (Non-Fungible Tokens), the term Diamond Hands has become a popular phrase among investors and enthusiasts. It represents a steadfast commitment to holding an asset regardless of market volatility or price dips. Let’s dive deeper into what Diamond Hands means, its significance in the crypto community, and why it’s especially relevant to NFT collectors.
What Does Diamond Hands Mean?
The term Diamond Hands refers to the metaphorical idea of holding onto an investment through thick and thin, much like the resilient nature of diamonds. When someone has Diamond Hands, they are determined to hold onto their crypto or NFT assets without selling, even during significant market downturns. In contrast, Paper Hands describes those who sell at the first sign of market fluctuation.
In the NFT market, having Diamond Hands implies a belief in the long-term value and rarity of a digital asset. Whether the asset is an NFT artwork, a digital collectible, or part of a blockchain game, those with Diamond Hands believe in the project’s potential and are willing to hold their investment indefinitely.
Why Diamond Hands is Important in the NFT Market
The NFT market is known for its volatility, with prices that can rise or fall dramatically in a short period. NFT enthusiasts with Diamond Hands are often seen as loyal supporters of projects, helping to stabilize the market and instill confidence among other holders. Here are a few reasons why Diamond Hands is essential in the NFT space:
Market Stability: Those with Diamond Hands contribute to market stability by holding assets through market lows, which can prevent a rapid sell-off.
Community Strength: Diamond Hand holders are often highly valued within NFT communities. They support projects not just financially but also by creating a solid fan base and showing long-term commitment.
Rarity and Value: The scarcity and value of NFTs can increase over time, especially if the project grows in popularity. By holding onto their NFT assets, Diamond Hands investors contribute to the perception of scarcity, potentially boosting the overall value of the collection.
Diamond Hands vs. Paper Hands: The Risk vs. Reward
While Diamond Hands may seem ideal, it isn’t without its risks. In a market as unpredictable as cryptocurrency and NFTs, holding onto an asset too long can lead to missed opportunities or losses. Here’s a comparison of Diamond Hands vs. Paper Hands in terms of risk and reward:
Diamond Hands: High reward potential but comes with the risk of holding assets during prolonged market declines.
Paper Hands: Reduced risk of losing all investment during a dip but also a higher chance of missing out on gains when the market recovers.
The decision to adopt a Diamond Hands or Paper Hands approach ultimately depends on an investor’s personal risk tolerance and long-term goals in the NFT market.
Benefits of Having Diamond Hands in the Crypto World
Holding NFTs with Diamond Hands provides a range of advantages, including:
Potential Long-Term Gains: As demand grows, NFTs that are held for long periods can experience substantial price increases.
Community Respect: In the crypto and NFT communities, those with Diamond Hands are often celebrated for their loyalty and belief in the project.
Exclusive Perks: Some NFT projects reward loyal holders with exclusive airdrops, access to community events, or special releases, making Diamond Hands a potentially lucrative approach.
In summary, Diamond Hands has become a symbol of resilience and dedication within the NFT and crypto worlds. This approach isn’t for everyone, as it involves a high level of risk tolerance and patience. However, those who maintain Diamond Hands can potentially reap the rewards of their steadfast loyalty, not just financially but also through the sense of community and exclusive opportunities.
Whether you’re a seasoned NFT investor or just starting, understanding the concept of Diamond Hands can help you make better-informed decisions and become a valued member of the NFT community. Remember, while Diamond Hands can be rewarding, it’s essential to evaluate the risks and have a clear strategy before committing to this approach in the dynamic world of NFTs and crypto.
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