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EOS Creator Responds Quickly to John Oliver

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John Oliver

Block.one and their EOS.IO platform aim to supplant Ethereum as the blockchain of choice for smart contracts. Their massive Initial Coin Offering took place over the course of a year and raised nearly a billion dollars. This event alternately garnered both praise and criticism. Praise for their business success and solid roadmap, and criticism for being the height of the recent ICO craze. Ultimately, the EOS.IO platform is unproven, but is still on schedule and even ahead of some other contemporary blockchain projects. This made their singling out by John Oliver somewhat baffling, if not necessarily incorrect.

The John Oliver Segment

On March 11th, popular entertainer John Oliver devoted an entire episode of his show to cryptocurrency. The show, ‘Last Week Tonight’, often tackles political or technological issues that have captured the public zeitgeist. In a way, cryptocurrency’s appearance on the show is a good indicator of public interest. In fact, most crypto-savvy watchers felt that the segment was surprisingly neutral. Oliver admitted that cryptocurrency combines, in his words ‘everything you don’t understand about money, with everything you don’t understand about computers,’ He went on to say;

“Who knows? Maybe EOS is going to be the next Google. I don’t think it is, and I certainly don’t think it can be worth over a billion dollars at this point, but I could be wrong. I’m absolutely not, but I could be,”

Oliver then turned his ire towards the EOS.IO blockchain platform. Most of his sharp comments were saved for Brock Pierce, a former child star, and cryptocurrency celebrity. Brock Pierce’s tangential involvement with EOS is enough, in Oliver’s eyes, to taint the project. Pierce has been at the center of a variety of impropriety scandals, along with several bizarre unrelated events.

Brock Pierce and his Involvement

Brock Pierce originally gained fame by acting in the first two Mighty Ducks movies, as well as First Kid. In the time since his acting career, he involved himself with a variety of entrepreneurial pursuits. During the original Dotcom Bubble, Pierce helped found the Digital Entertainment Network. Aimed at providing video entertainment over the still new Internet, DEN ultimately collapsed.

The collapse brought several scandals to light. Alongside the average Dotcom scandal of a non-solvent project that produced little of value and overpaid executives, darker secrets were exposed. Three of the founders of DEN were accused of sexual abuse of minors, including Brock Pierce. While the other two founders served time in jail, Pierce avoided this fate. It was these scandals that John Oliver focused on during his show. Pierce was then involved in a variety of digital start-ups before helping to found Blockchain Capital, which led to his involvement in Block.one and the EOS.IO platform.

How Block.one Responded

In a show of excellent public relations management, Block.one responded in a lighthearted and conciliatory tone. They were quick to point out that they enjoyed the segment, and appreciated the mainstream media attention that it afforded. However, they did respond to some of the criticisms that Oliver levied against them – namely the employment of Brock Pierce. Of particular note, Block.one had already parted ways with the controversial figure. In fact, they had done so over a week before the segment even aired.

Many of the issues that John Oliver suggests in his diatribe against the EOS.IO platform are not unique. He posits that there is no product and no reason for the project’s current valuation. The same could be said of any cryptocurrency ICO, and even most crowdfunded projects. EOS.IO is a particularly confusing target, given their high profile development team and professional attitude towards the project. Block.one said as much in their rebuttal and included that their project is very visible on Github – where anyone can verify their progress.

The Market Effect on EOS

The EOS cryptocurrency, being the most visible sign of investor confidence, fluctuated over the past 10 days since the segment aired. It stabilized around the $6 USD mark. Once John Oliver’s episode on cryptocurrency aired, the price of a single unit of EOS tanked by 33% to just over $4. While this is obviously negative news overall, it is the next several days that provide a very positive indicator. The price recovered nicely and is now sitting at $7.20 – higher than before the episode aired.

Cryptocurrency investors know to do their own research – and they are confident in what Block.one intends to provide. The professional, lighthearted response provided to John Oliver’s criticisms furthers the positive image that most investors have of the new blockchain standard that EOS.IO represents.

We will be updating our subscribers as soon as we know more. For the latest on EOS, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Chad Cooper via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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