Showing 110 results for:
tokens
Popular topics
All results
Jay-Z’s Roc Nation is making more money moves and this time it’s in the virtual reality space. According to a press release, the entertainment company recently purchased tokens from Sensorium Corporation’s in-platform currency SENSO of Sensorium Galaxy — described as a digital metaverse that’s fusing together blockchain cryptocurrency tech with virtual reality (VR). Roc Nation’s purchase announcement suggests that the company is making active decisions to move it toward the digital future. Company CEO Desiree Perez confirmed this claim with a statement that reads, “Sensorium Galaxy is well-positioned to take the entertainment industry to the next level. Their digital metaverse has a strong focus on quality, which is exactly what we want for our extensive artist base.” Sensorium Galaxy was developed in partnership with several chart-topping artists and globally-recognized nightlife mogul Yann Pissenem in an effort to help music artists benefit more from global content distribution, a...
Art Basel is one of the most highly anticipated events on the global art calendar, connecting art lovers, collectors, curators, and artists worldwide. The international art fair is held annually in Basel, Switzerland; Miami Beach, FL; Hong Kong, China; and Paris, France — with Miami Beach recognized as the premier art show of the Americas, per its website. While the event is most commonly known as a high-profile contemporary art fair, Art Basel Miami has evolved into a diverse cultural event combining art, culture, design, fashion, and business. Today, technologies like NFTs (non-fungible tokens), OVRs — online viewing rooms that let art enthusiasts join events through their computer screens — and immersive art experiences have transformed how art is viewed and purchased. As such, the fair has become a significant platform intersecting art and technology, according to a 2021 panel discussion at the event. Ahead of the 2024 edition of Art Basel Miami Beach, Art Basel unveiled its new...
An end may be near for a lawsuit involving Shaquille O’Neal. As AFROTECH™ previously reported, O’Neal was named in a class action lawsuit filed against the Astrals Project in a Florida federal court in 2023. He was one of the founders of the project, along with music manager Brian Bayati and O’Neal’s son Myles O’Neal. “Plaintiffs in the billion $ FTX class action case just served @SHAQ outside his house,” the Moskowitz Law Firm shared on X at the time. “His home video cameras recorded our service, and we made it very clear that he is not to destroy or erase any of these security tapes because they must be preserved for our lawsuit.” The Astrals Project initially launched the “Shaq Signature Pass,” marketed as the “first consumable NFT of its kind,” per The Hollywood Reporter. It claimed the signing technology had “wide-ranging applications.” In total, Astrals included 10,000 NFT (non-fungible token) 3D avatars and a DAO (decentralized autonomous organization) intended for...
A class action lawsuit continues to loom over Shaquille O’Neal. As AFROTECH™ previously reported, he was named in a class-action lawsuit filed against the Astrals Project, which he created alongside Music Manager Brian Bayati, who serves as the CEO, and his son Myles O’Neal, who is the head of investor relations. They launched to the public the “Shaq Signature Pass,” a non-fungible token (NFT) series that was labeled as the “first consumable NFT of its kind, and the signing technology is one that we think will have wide-ranging applications.” Coindesk mentions Astrals consisted of 10,000 NFT 3D avatars and a decentralized autonomous organization (DAO) for “incubating innovative projects” with the Galaxy token serving as the governance token. In a class action filed in Florida federal court in 2023, it stated the project was in violation of securities law as the company sold unregistered Astrals tokens, according to The Hollywood Reporter. Investor Daniel Harper, who allegedly lost...
Trends come, and trends go. As artificial intelligence (AI) and virtual reality (VR) have been getting all of the attention lately, technology such as non-fungible tokens (NFTs) has simmered down. Now, Kevin Hart is one of many who have experienced one of the pitfalls that come with blockchain technology. In January 2022, the actor and comedian reportedly bought a Bored Ape Yacht Club non-fungible token (NFT) for 79.5 ETH or $200,401 in a deal facilitated by MoonPay, a cryptocurrency marketplace, as previously shared by AFROTECH™. The reported purchase was at a time when numerous celebrities such as Hip Hop artist Snoop Dogg and NBA player Stephen Curry were securing the once popular company’s digital tokens. Hart reportedly sold his NFT on March 25, 2024, for 13.65 ETH, which equates to $47,000 — significantly less than his original purchase of over $200,000 — per ZyCrypto. The outlet described the reported sale as an “81% discount.” Canadian singer Justin Bieber faced a similar...
As the future of short-form video-hosting platform TikTok remains uncertain, one user is already creating a new home for creators. Viola Carmona is the founder of Tussle, an emerging livestream platform described as “the ultimate battle app” for creators to thrive. Carmona told AFROTECH™ that t he concept emerged following the experiences of her online peers who needed help with their earnings from TikTok through livestreams. TikTok’s Live feature, launched in 2019, allows creators to earn virtual gifts in the form of diamonds from supporters to earn revenue, the company website mentions. The more creators utilize this feature, the more they can be rewarded. Per TikTok, creators can earn a 50% split with the company following deductions for “the required payments to app stores, payment processors, and any other adjustment required under our terms and policies.” In December 2023, a report revealed that TikTok has generated $10 billion in total global consumer spending, and users have...
2021 to 2022 was a time when the trend of non-fungible tokens (NFTs) was booming. Celebrities such as Stephen Curry were purchasing NFTs for hundreds of thousands of dollars. In addition, a whopping number of people were launching their own exclusive collections and even creating their own cryptocurrency.
Over recent years, we’ve seen the rise of crypto, non-fungible tokens (NFT), and now, artificial intelligence (AI). The trending topics have made their way from the tech world and into pop culture. During an episode of the popular “ The Friend Zone” podcast, the hosts even discussed a controversial viral moment involving AI. A clip circulated online of an AI-backed voice filter mimicking Kendrick Lamar’s voice. “I hope for something in the media or something in humans to spark to where we don’t have to feel as cautious as we do when things like this arise because what if this could be used for something good?” host Assanté said during the episode when talking about potential laws and regulation. He added: “As technology grows, how do we become more responsible? How do we actually use this for the betterment of ourselves and our future? Just making sure that things go right versus using [AI] to go wrong.” The hosts’ discussion was based on Young Guru’s response to the clip. The...
Remember when rapper Mike Jones had everyone singing, “Back then they didn’t want me. Now I’m hot; they all on me?” If there were a reverse meaning to this lyric in object form, it would be the popularity of NFT collections. Several months ago, non-fungible tokens (NFT) were all the rave. Almost every week, there was an announcement about a different influencer or organization turning their product or experience into an NFT. And while some financial experts predicted the depreciation of some NFTs, many didn’t think they would plummet in value as quickly as they did.
What do T.I. and Kim Kardashian have in common? They both have run afoul of SEC disclosures. Kardashian has to pay the Securities and Exchange Commission (SEC) a total of $1.26 million for her failure to disclose a payout for promoting a cryptocurrency. According to the SEC’s official website, Kardashian received $250,000 from EMAX tokens, a cryptocurrency offered by EthereumMax. While SEC disclosures don’t forbid “influencers” to receive compensation for promoting crypto-coins, they do require that said influencers disclose when they receive payment for said promotion, which Kardashian didn’t do. As a result, she has agreed to pay a fine. “The federal securities laws are clear that any celebrity or other individual who promotes a crypto asset security must disclose the nature, source, and amount of compensation they received in exchange for the promotion,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, in the official release. “Investors are entitled to know...
Creating a successful stream of income for yourself is great, but it’s even better when your win helps others. As previously reported by AfroTech, Elise Swopes made headlines when she turned her love of making non-fungible tokens (NFTs) into making over $200,000 back in 2021. Additionally, the rise in her online presence led to her being featured in projects such as collaborating with Black Women On Boards (BWOB) for its NFT release to commemorate its accelerator program’s launch.
Solo Ceesay is the CEO & Co-Founder of Calaxy. — Since I was a boy, I wanted to be a successful businessman. I vividly remember trying on my father’s oversized pastel suits, donning the ubiquitous business look of any dapper-dressed African man of the ’90s. Even before I could form full sentences, I was primed and driven to work in business. With motivation and determination aplenty, my actions were encouraged by relentless sideline cheering from my mother yelling, “You’re a king, Solo!” Just over a year ago, I took a bet on myself. A bet that a then-26-year-old Black kid could make something out of nothing. And while you could call this journey just about everything but easy, the reality is that raising $26 million with Calaxy was the easy part. The sacrifices I’ve made, the friends I’ve lost, the lack of idols to look up to, and making the decision to take a nose dive into a world of uncertainty are all invariably more difficult for those who look like me. From having to...
Over the past few years, Snoop Dogg has proven to have an affinity for more than just rap music and cannabis. He is a man of business and a significant player in the digital space. With web3 content and collections of non-fungible tokens (NFTs), Snoop demonstrates that he believes the future of work and business is in the metaverse. However, the future of digital assets has recently come into question. Despite the challenges many financial experts have identified, Snoop is not concerned.