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Animoca eyes SportFi ecosystem, becomes Chiliz Chain validator

Animoca Brands will become a validator for the Chiliz Chain as the venture capital firm looks to capitalize on the SportFi ecosystem.

Venture capital firm Animoca Brands will put its weight behind fan token blockchain Chiliz Chain as it joins the network as a validator within its proof-of-stake authority protocol.

Chiliz Chain is the backbone of Socios.com, the platform that operates a plethora of fan tokens for some of the biggest global football and sports teams. Europe’s most loved football clubs and a number of household sports brands have tapped into the solution to power Web3 fan tokens and other blockchain-based offerings.

Animoca Brands co-founder Yat Siu says the partnership presents an opportunity for his firm to combine its expertise in nonfungible tokens (NFTs) and gaming with Chiliz’s focus on sports and entertainment-focused blockchain solutions.

“We have already seen the rise of DeFi and GameFi, and we believe that SportFi represents the next major growth area that will redefine fan engagement and create new financial dynamics in the sports industry.”

Chiliz CEO Alexandre Dreyfus adds that Animoca’s addition as a network validator marks a pivotal point in the firm’s history as it looks to solidify its position as a major blockchain solution primarily focused on catalyzing Web3 functionality and the wider sports industry.

Related: Chiliz launches layer-1 blockchain to expand fan token ecosystem

Animoca Brands becomes the latest validator of the Chiliz Chain, joining the likes of Ankr, Paribu, Meria, Luganoes and InfStones as validators. Similar to proof-of-stake blockchain protocols like Ethereum, validators authorize and enable the creation of fan tokens, NFTs and decentralized applications, as well as verifying transactions and executing smart contracts.

Animoca has a wide-ranging spread of investments across the Web3 space and has also honed its focus on the sports sector. Its Web3 sports products include One Fight Arena, AFL Mint and REVV Motorsport. The latter includes the likes of MotoGP Ignition, MotoGP Guru, Formula E: High Voltage, REVV Racing and Torque Drift.

Animoca grabbed headlines in April 2022 by acquiring French racing game developer Eden Games for $15.3 million. The deal aimed to acquire racing game development talent to enhance the REVV Motorsport ecosystem and introduce blockchain-based games focused on the genre.

Chiliz launched its own layer-1 Ethereum Virtual Machine-compatible blockchain ecosystem to support its growth in Feb. 2023. The launch marked the transition away from its Ethereum-based ERC-20 token ecosystem to its own blockchain solution.

The blockchain initially used a system of 11 active validators with proof-of-stake authority consensus, which is touted to provide faster block times, lower fees and energy usage.

Magazine: Socios boss’ goal? To knock crypto out of the park

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Californian lawmaker proposes legislation to protect actors from AI clones

Californian Assembly Member Ash Kalra labeled the bill as a “common sense requirement” to help protect the work of actors, artists and entertainers.

A Californian lawmaker has introduced a bill to protect actors, artists, and entertainers from artificial intelligence, by mandating employment contracts to include informed consent when it comes to digital replicates.

Ash Kalra, an Assembly Member of the State of California — the lawmaker behind the bill — argued that generative AI presents a “real threat” to workers in the entertainment industry and its use should be banned unless a bargaining agreement between the parties is made.

The legislation, Assembly Bill 459, will eventually be assigned to a committee whose members will research, discuss, and make changes to the bill proposed by Kalra, which will then be put before the chamber for a vote.

Kalra explained in a Sept. 13 statement that “common sense requirements” like those in bill AB 459 need to be implemented to protect these workers:

“Mandating informed consent and representation will help ensure workers are not unknowingly at risk of losing the right to their digital self, and with it, their careers and livelihoods.”

The bill was also supported by Screen Actors Guild and American Federation of Television and Radio Artists (SAG-AFTRA) — a United States-based labor union representing over 100,000 media professionals around the world.

Duncan Crabtree-Ireland, the guild’s national executive director and chief negotiator stressed that protecting an actor’s digital image through consent-based laws is now a necessity.

“We believe that our members must maintain full control over the use of their digital selves through informed consent, and this is key if they are to be able to build and sustain a career,” he explained.

Crabtree-Ireland said AI copycats can lead to “abusive” and “exploitative” practices and that legislation will play a key role in curtailing such conduct:

"We see protection against the unjust transfers of these rights to be an imperative against potential abusive or exploitative practices. We are deeply concerned by the proliferation of AI-created audio and video content without full consent, and this legislation is an important step to ending these dangerous practices.”

Related: AI deepfakes are getting better at spoofing KYC verification — Binance exec

The Screen Actors Guild has been behind a nearly four-month-long ongoing strike action in Hollywood over base compensation, better working conditions and other contentious issues.

One of the issues raised revolves around AI and its use, with the workers demanding stricter protections against artificial intelligence and larger royalties for their work, known in the industry as residuals.

In a recent interview with Variety, U.S. actor Sean Penn took a shot at many studios' desire to utilize actors' likenesses and voices for future AI use.

“So you want my scans and voice data and all that. OK, here’s what I think is fair: I want your daughter’s, because I want to create a virtual replica of her and invite my friends over to do whatever we want in a virtual party right now.

"Would you please look at the camera and tell me you think that’s cool?” he asked. 

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Iman Europe and The Agenda chat mental health, music, Web3 and The Homies DAO

Musician and The Homies DAO founder Iman Europe sat down with The Agenda podcast to discuss how her Web3-based project promotes wellness among music workers.

Talk to any musician who has “made it,” and they’ll say that achieving fame is both a gift and a curse. While success in entertainment can obviously bring many positives, it also carries the pressure to stay relevant, the worry of constantly needing to stay connected to fans, and the loss of freedom and privacy that comes with being a regular Joe — all of which can be utterly exhausting. Add a jam-packed events schedule that robs artists of the time to detox and socialize, and fame begins to look like just as much a burden as it may be a blessing.

On the flip side, those aspiring to break through and finally go mainstream deal with the pressure of an uphill climb and the potential outcome that after all the struggle, there might not be a light at the end of the tunnel.

For this reason, mental health, wellness and feeling like one is plugged into a community are things all creators need to allocate time to, and The Homies DAO is focused on just that.

On Episode 17 of The Agenda podcast, hosts Ray Salmond and Jonathan DeYoung speak with singer and The Homies DAO founder Iman Europe about how the collective is using Web3 to bring artists together to focus on wellbeing.

A safe space for artists to breathe, relax and socialize

During the conversation, Europe detailed how lonely being a musician can feel and how difficult it can be to maintain social connections, given that sometimes it seems like family members are constantly hitting you up for money and perks, and strangers you connect with might have the ulterior motive of getting special benefits thanks to their new-found friend’s fame.

“I know a lot of artists felt very burnt out last year and felt like they couldn’t find their footing oftentimes because everything was moving so fast in Web3,” she said. “And so I saw the need for wellness in the space, and I also was needing it. I was juggling being an artist and the head of artist relations of Sound.xyz, and it was a lot. They were two full-time jobs, and I wasn’t making enough time for myself and my wellness, and I saw the effects of that.”

This inspired Europe to found The Homies DAO. “When I got to the end of the year, I knew I wanted to focus this year on wellness more and on being able to give that back to myself and also creating space for artists to do the same.”

When asked about the type of wellness and community activities Homies DAO members could participate in, Europe mentioned that the decentralized autonomous organization (DAO) provides a safe space and community where creators participating in the music industry can socialize, unwind, meditate, work out and engage in activity that offers a sense of community.

“We’re hosting our first event at the end of this month, the Homies Hangout, where we’ll have different forms of wellness. So it’ll be physical wellness — we’ll start with exercise, riding the bikes and spinning. This will be hosted at Burn Cycling. So we’ll start off with that, and then we’ll take a break and then come back for a sound bath, which is spiritual wellness. And then we’ll do some affirmations, and we’ll have someone come in and lead a group therapy session where we can all kind of talk together and talk about mental wellness and different resources to bettering that.”

As for the DAO’s future plans, “We plan to do a few things like monthly meetups like that, but also monthly meetups online where we’re able to just check in with each other and just have a space for that,” said Europe, adding:

“We later plan to do like educational content and just creating different content to bring more people on-chain. We want to create and mint projects through our DAO with the artists, maybe based around wellness. And our hopes are later to expand to offline retreats for artists, artist residencies.”

The Homies aims to put the focus on people instead of the pursuit of profit

Like a handful of the other crypto and Web3-focused DAOs in the space, The Homies DAO also has a nonfungible token (NFT) collection, with holders entitled to DAO membership and various other perks. Generally, projects with tokens or NFTs also have to contend with price speculators and NFT investors who don’t contribute anything to the project.

On the matter, Europe said, “I didn’t want to make this speculative. I wanted to make this more so of a community. They are limited. I think we’ll only have 500 members total right now.”

Related: YouTube releases ‘principles’ for working with music industry on AI tech

When asked why she’s not currently concerned with floor prices, increasing the collective’s size, or even partnering with blue-chip projects, Europe replied:

“We’ll only have 500 because we really want to know each other, and we’re really trying to build a community, not just like a project. I think that’s the difference between a DAO and a project, is you want as many people to be on it as possible. But I think when we think of wellness, it is an intimate thing. And sometimes when you make it more about like clout and, I don’t know, speculation, it loses its truth, and it loses its power to really do what we want to do in this wellness.”

To hear more from Iman Europe’s conversation with The Agenda — including details on some major future plans for The Homies DAO — listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts or Spotify. And don’t forget to check out Cointelegraph’s full lineup of other shows!

Magazine: Tokenizing music royalties as NFTs could help the next Taylor Swift

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Animal Concerts partners with Korea’s Klaytn: K-pop in the Metaverse?

The US-based Metaverse concert organizer Animal Concerts has partnered with South Korea’s Klaytn blockchain network to bring leading global music entertainment stars to the Metaverse.

Metaverse concert organizer Animal Concerts has partnered with South Korean unicorn Kakao’s Klaytn network to increase its exposure to the Korean entertainment industry and facilitate Klaytn’s global expansion plans.

The Jan. 10 announcement from Klaytn explains that the partnership between Klaytn and Animal Concerts is expected to help Klaytn increase the number of NFTs that are traded on the platform. Klaytn is one of just three blockchains with native support on OpenSea, the largest NFT marketplace, but has the lowest trading volume. Klaytn’s parent company Kakao is also planning an NFT and Metaverse platform called Kakao Games.

Animal Concerts will organize and promote concerts in the Metaverse and plans on issuing a cryptocurrency, nonfungible tokens (NFT), and merchandise for top recording artists. The US-based brand has already entered into a relationship with Alicia Keys to promote her album KEYS.

CEO of Animal Concerts Colin Fitzpatrick believes that NFTs could be a way for the music industry to boost revenues that have been lost since the beginning of the Covid-19 pandemic. Artists experiencing show and tour cancellations lose out on revenue and the ability to connect with fans in a live setting. Holding concerts in the pandemic free Metaverse could drastically change the way concerts are experienced and prevent the disappointment of a cancelled show, while cutting down on touring cos.

Fitzpatrick told Cointelegraph that working with Klaytn is a natural fit since “Klaytn’s major goals are NFTs and Metaverse.”

He also hopes to gain greater access to the $6 billion South Korean music entertainment market:

“Korean entertainment will be a huge thing for Animal Concerts.”

Fitzpatrick noted that while “technical limitations prohibit how many people can actually attend a concert in the Metaverse” due to current scalability issues, he hopes to build a network of virtual venues across existing and new Metaverse platforms to host concerts in a fashion similar to tour. “It’s hard to get the first few going but eventually they’ll start coming to us,” he said.

Klatyn is a large corporate-backed blockchain but Fitzpatrick is nonplussed by concerns about decentralization. Klaytn governance council includes 30 mostly corporate entities including Shinhan Bank, LG Electronics, Netmarble, and the crypto-based entities Maker and Binance.

Related: eToro rolls out smart portfolios for new metaverse investors

From Fitzpatrick’s point of view, there may be some making criticisms about decentralization, but “there are a lot of blockchains that are not as decentralized as advertised.”

He also feels that there are also advantages to corporate entities being involved in the blockchain space:

“I don’t think people fully appreciate how things will work with a blockchain backed by such a behemoth.”

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