We have seen it over and over again with the top 5 crypto assets. Whenever the general crypto community is all bullish about a coin, Wall Street comes out of nowhere and either starts offering financial derivatives of the coin or holds the digital asset by the hand to further make it great. We have seen it with Bitcoin (BTC) and the futures contracts being offered by CME and CBOE. We saw it with XRP, LTC and ETH with UK based Crypto Facilities that currently offering futures products based on these digital assets.
The thing about Futures contracts, many Crypto enthusiasts do not like them. They allow you to bet against a digital asset and actually predict that it tanks in the markets. It is similar to shorting. This involves ‘borrowing’ a digital asset at a certain high level then instantly selling it with hopes of buying it back when it gets cheaper. If this were to happen, you profit by pocketing the difference. Perhaps it is time crypto enthusiasts became savvy traders and started shorting their favorite digital assets? HODLing seems to be causing widespread heartache.
Moving back to TRX, it is only a matter of time before the project attracts the attention of a major media based company in a similar manner as to how XRP attracted SBI Holdings. Unlike XRP, TRX is not so much focused on the remittance industry, therefore a media firm would be more applicable. Hollywood is known to be the hub of media. This includes music, film and reality TV. It is, therefore, no coincidence that Tron has an office in San Francisco.
Considering the fact that music artists only take home 12% of the revenue their lovely music makes, it might be time to decentralize the media industry using TRON.
But what media firm would be crazy enough to risk losing its profits by decentralizing music/film distribution and payments?
This would be a bold step by a media firm for they risk being taken over by the technology they will be promoting. But by being the first in the market to offer blockchain solutions to creative content for artists, such a firm would place itself in a position of being the next iTunes or Spotify or Tidal on the blockchain. Maybe even these three firms are already watching the Tron Project from afar and sending so-called emissaries to Justin Sun. More so, since he acquired the file-sharing platform of BitTorrent. Think of the possibilities of a decentralized music industry!
Yes. All this is speculation. But remember the great men and women in tech have always been known as being dreamers and visionaries. At first, their ideas seem insane only to be patted on their shoulders a few years down the line when their ideas become mainstream. Think of Tesla and his vision of a wireless means of communication and energy transfer. Think of Marie Curie and her research on radioactivity. Think of Einstein and his theory of relativity. They were a few years ahead of their times with their ideas and now we cannot live without their ‘dreams’ of a better future.
For the latest cryptocurrency news, join our Telegram!
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 Pexels
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
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…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
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…
XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
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…