The festival and clubbing scene is a vibrant and constantly evolving industry, with new trends and experiences popping up every year. From electronic dance music festivals to underground clubs, there’s something for everyone in the party scene. It’s an industry that brings people together, and it’s also a significant contributor to the economy. As the scene continues to grow and adapt, new technologies and innovations are being introduced to enhance the overall experience. One such innovation is the integration of cryptocurrency into the nightlife scene, specifically KlubCoin, which promises to bring a new level of excitement and innovation to the …

Initiatives toward metaverse development continue to be a significant focus and key interest in the Middle East region, as the LEAP conference in Riyadh, Saudi Arabia, highlights key topics in the industry. On Feb. 7, a partnership ceremony was held at the conference, which acknowledged a new memorandum of understanding (MOU) between the Sandbox and the government of Saudi Arabia. According to social media posts from Sebastien Borget, the co-founder and COO of the Sandbox, the MOU is with the Saudi Arabia Digital Government Authority (DGA) for the purpose of “exploring, advising and supporting” one another in metaverse development. It …

The devastating earthquake that hit Turkey on Feb 6 has left a trail of destruction in its wake, affecting numerous communities and individuals. In response to the tragedy, cryptocurrency exchangeBinance has announced that it will airdrop $100 USD worth of BNB tokens to all Binance users residing in regions hardest hit by the earthquake. The process of identifying eligible users will involve checking Proof of Address (POA) submissions made before February 6th in ten cities affected by the earthquake, including Adana, Adıyaman, Diyarbakır, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Şanlıurfa, and Osmaniye. Time to take care of our users. ❤️#Binance to …

Are phygital NFTs the future? The world could be tokenized, and NFTs could be the means through which we perform commerce. Could that be the future? Phygital nonfungible tokens have a strong value add and can be a part of any brand’s community initiatives. Considering the fact they are new, there is a buzz around them that brands can benefit from. With many Web2 incumbents and digital native companies jumping on the bandwagon, phygital NFTs are poised to be a major part of the community and marketing initiatives of companies. However, the widespread adoption of phygital NFTs will likely depend …

A massive earthquake hit southeastern Turkey along the border with Syria on Feb. 6, which has so far caused the death of more than 5,000 people. The quake had a magnitude of 7.8 on the Richter scale, which is internationally categorized as a “major” earthquake, and occurred along 100km (62 miles) of the fault line. Infrastructure in the area suffered major damages, resulting in a deadly cross-border humanitarian disaster. However, the world was quick to respond. Across the internet and various social media platforms, people have been gathering funds for local and international aid organizations to provide relief to those …

United Kingdom-based neo-banking platform Revolut, which boasts 25 million customers globally, has introduced crypto staking to its U.K. and European Economic Area (EEA) customers. According to a report by London-based news agency altfi, the staking feature is expected to go live this week, allowing users to generate income on their crypto assets during its "soft testing" phase. At present, the staking feature is available for Polkadot (DOT), Tezos (XTZ), Cardano (ADA), and Ether (ETH) crypto assets, with yields ranging from 2.99% to 11.65%. However, these yields are not guaranteed. In cryptocurrency, staking is a process where an individual holds or …

On Feb. 6, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that investors are showing a strong interest in digital asset investment products, with inflows totaling $76 million last week, marking the fourth consecutive week of inflows. The report indicates a change in investor sentiment for the start of 2023, with year-to-date inflows now at $230 million. This growth has led to an increase in total assets under management (AUM), which now stands at $30.3 billion — the highest since mid-August 2022. Investors are primarily focusing on Bitcoin (BTC), with weekly inflows of $69 …

The future of decentralized social media Traditional Web2 social media platforms are plagued by fundamental problems such as censorship, lack of users’ privacy and demonetization. Decentralization is a potential solution. Many of Web2’s major social media are already looking for a way out by making steps forward to Web3 and decentralization. For instance, Reddit touted community points, which are ERC-20 tokens that users can earn by posting quality content and contributing to online communities. To do so, Reddit is working with Arbitrum, a layer 2 protocol designed to scale Ether (ETH) transactions. Twitter rolled out support for NFTs, allowing users …

Crypto security is one of the hottest topics for investors and companies actively working on creating better security solutions for the Web3 industry. Web3 Antivirus was created in an effort to make wallet security more accessible to all users in the space. The company offers a browser extension that helps users monitor wallet interactions and spot potential scams and malicious activity before investors fall victim to them. Below are the most common crypto scams and malicious tactics, and how to protect against them below as found through the experience of developing Web3 Antivirus. Malicious transactions Hacker tactics: While on a …

Fumio Kishida, the Prime Minister of Japan, has come out in support of blockchain as a potential solution for technological issues facing the country. In response to questioning from Liberal Democratic Party member Masaaki Taira before the Budget Committee of Japan’s House of Representatives on Feb. 1, Kishida said there were “various possibilities for using Web3” in Japan. He added that the Japanese government could use aspects including nonfungible tokens (NFTs) and decentralized autonomous organizations (DAOs) in efforts to revitalize regions and promote ‘Cool Japan’ — a national strategy aimed at showing off the country’s innovations and culture to the …

The metaverse is becoming a destination for more brands, companies and communities to connect. A study from December 2022 revealed that 69% of users believe metaverse entertainment will reshape social life. Recently, the legacy music and arts festival Woodstock, known for being the most famous of the 1960s rock festivals, announced that it would reinvent itself as a digital world in collaboration with metaverse developers Sequin AR. Festivals in the metaverse are not a new thing. As digital life has been becoming more prominent over the years, we’ve seen virtual PRIDE parades, cultural events specific to countries and metaverse fashion …

In the era of services like Netflix, Dropbox or Amazon Prime, it’s quite easy to forget about the times when customers were getting in line to acquire boxed digital products, like software or entertainment media, with one-time purchases. The age of annual fees started when consumer products turned into subscription-based services. The same transformation happened approximately a decade ago in the enterprise world when businesses reimagined ages-old solutions like enterprise resource planning or customer relationship management as ongoing services monetized via recurrent billings. Hence, the business-to-business (B2B) software-as-a-service (SaaS) model was born in the 2000s and disrupted the way enterprise …