As more people begin to integrate Web3 technologies into entertainment and production, the use case for decentralized autonomous organizations (DAOs) in filmmaking has been highlighted in a Cointelegraph interview with Jake Fraser, the head of business development at the film-focused blockchain project Mogul Productions. When it comes to DAO usage in films, a deeper level of fan engagement was highlighted by Fraser. As an example, the executive pointed out the involvement of fans in the production process such as in creating the script, choosing stories and picking the location. He explained that: “DAOs come into play within the film industry …

Aave token holders have been asked to take part in an Aave Request for Comment (ARC) that would require them to "commit" to Ethereum’s proof-of-stake (PoS) consensus. The ARC, proposed on Aug. 16, comes in light of Ethereum's upcoming transition to proof-of-stake. It calls for members to select the Ethereum Mainnet running under PoS consensus as the new “canonical” governance system, while also giving power to an authority to shut down any Aave deployments on any alternative Ethereum forks. ARC for the Aave DAO to signal support PoS ETH upon The Merge https://t.co/0A4YkpHLdq — stani.lens @ ETHLatam (,) (@StaniKulechov) August …

In an article I wrote for Cointelegraph, I commented on how the European Union has moved forward to regulate the crypto-asset market through Markets in Crypto-Assets (MiCA) and Transfer of Funds Regulation (ToFR). With this subject as a background, I had the privilege of interviewing one of the people who knows the most about regulating new technologies: Eva Kaili, vice president of the European Parliament. She has been working hard on promoting innovation as a driving force for the establishment of the European Digital Single Market. Check out the interview below, which covered key points about MiCA, some proposed legislative …

The Tornado Cash DAO went offline after many social media users reported the community discussing ways to challenge sanctions recently imposed by the United States Treasury Department’s Office of Foreign Asset Control. At the time of publication, the Tornado Cash DAO was offline reportedly following a discussion in which community members voted unanimously to add its governance layer as a signatory to its treasury’s multisig wallet, which manages a reported $21.6 million. It’s unclear what was responsible for the decentralized autonomous organization (DAO) going dark, but it followed a series of actions taken by different authorities and private entities in …

MakerDAO founder Rune Chirstensen has urged members of the decentralized autonomous organization (DAO) to “seriously consider” preparing for the depeg of its DAI stablecoin from the United States dollar (USD). The founder’s comments came in light of the recently announced sanctions on crypto mixer Tornado Cash, noting to MakerDAO’s Discord channel on Aug. 11 that the sanctions are “unfortunately more serious than I first thought,” adding that they should prepare to depeg its native stablecoin DAI from the USD to avoid any risk’s relating to Circle’s recent freezing of sanctioned USD Coin (USDC) addresses. “I think we should seriously consider …

Using nonfungible tokens (NFTs) as carbon credits, or carbon offsets, reveals an outlet for Web3 technology to foster a more environmentally friendly future. NFTs as carbon credits are a slow-rolling trend in the refinance market and decentralized finance (DeFi). Most of this activity currently takes place on the Polygon (MATIC) blockchain, as it has already offset its entire carbon footprint. However, the way these digital assets work with carbon credits differs from other ventures in the space. Rather than a store of wealth or a piece of unique digital art, carbon credit NFTs serve as a repository of information related …

With their sudden rise to fame, many quickly associate nonfungible tokens (NFT) with luxury purchases for the wealthy. Consider just how many stories have flooded the news of investors and celebrities buying NFTs for $1 million or more. However, these assets are more than a tool for the rich to get richer. Rather, at their core, these assets exist as a stepping stone to bridge the world into a digital realm, leveling the playing field for artists and providing a foundation for asset ownership for creators. Much like blockchain was brought into the world to democratize finance, NFTs can ensure …

Prominent crypto investor Multicoin Capital has launched a new venture fund valued at $430 million, further demonstrating venture capital’s growing interest in the blockchain economy amid the bear market. Multicoin’s Venture Fund III will invest between $500,000 and $25 million in early-stage companies across various crypto- and blockchain-focused industries, the company announced Tuesday. It’s also willing to invest values of up to $100 million or greater for later-stage projects with an established brand and market presence. Related: VC Roundup: ‘Web5,’ Metaverse sports and Bitcoin monetization startups generate buzz Venture Fund III will place greater emphasis on crypto projects that have …

On June 7, United States Senators Cynthia Lummis and Kirsten Gillibrand launched the much anticipated Responsible Financial Innovation Act, proposing a comprehensive set of regulations that address some of the biggest questions facing the digital assets sector. By providing holistic guidance to the rapidly growing industry, the bill offers a bipartisan response to President Biden’s call for a whole-of-government approach to regulating crypto. Among its many proposals, the bill establishes basic definitions, provides an exemption for digital currency transactions and harmonizes the roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), delineating regulatory swim …

Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week. This past week, the DeFi ecosystem saw Axie Infinity’s Ronin bridge relaunch with a fully backed 1:1 Ether (ETH) nearly three months after the infamous $600 million hacks. MakerDAO plans to invest $500 million into United States Treasurys and bonds to weather the ongoing bear market. Polkadot (DOT) announced that they would transform their governance model to move towards complete decentralization. While decentralized autonomous organizations (DAOs) are seen as the future of …

In a major win for decentralization, members of MakerDAO, the lending protocol behind the Dai (DAI) stablecoin, have rejected a series of proposals that would have seen the protocol’s governance structure become more centralized. On Monday, the members of MakerDAO showed up to consider three proposals that would have reorganized the leadership of the decentralized autonomous organization (DAO) into something that more closely resembles a traditional corporation, complete with a board of directors. The proposals were drafted as potential solutions for making the DAO more efficient and more capable of executing “high-level decisions.” Author of one of the proposals and …

The ongoing cryptocurrency market decline is the right time for the community to strengthen infrastructure fundamentals, according to the chief strategy officer at the European digital asset manager CoinShares. CoinShares is one of the largest digital asset investment firms in Europe, with net assets exceeding $260 million by the end of 2021. According to CoinShares’ latest fund flows weekly report, digital asset investment products saw outflows totaling $423 million last week, the largest since records began by a wide margin. The report noted that the outflows were likely responsible for Bitcoin’s (BTC) decline to $17,760 on June 18, marking the …