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Popularity of Crypto Investments Makes Case for Regulations, Australian Securities Watchdog Says

Popularity of Crypto Investments Makes Case for Regulations, Australian Securities Watchdog SaysHigh rates of crypto ownership, with purchases often made on advice from Youtube and Facebook, make “a strong case for regulation,” according to the Australian Securities and Investments Commission. The watchdog backs its stance with poll results showing nearly half of retail investors in Australia keep one coin or another. Australian Securities Regulator Pushes for […]

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

Ethereum (ETH) Competitor Pumps Nearly 35% After Announcement of New Instagram NFT Partnership

Ethereum (ETH) Competitor Pumps Nearly 35% After Announcement of New Instagram NFT Partnership

A layer-1 blockchain designed for non-fungible tokens (NFTs) is soaring after being integrated into a major social media platform. In a new announcement, social media giant Meta says that NFTs minted on the Flow (FLOW) blockchain will start posting on Instagram’s new digital collectibles feed. Flow is a decentralized Ethereum (ETH) competitor tailored for gaming, […]

The post Ethereum (ETH) Competitor Pumps Nearly 35% After Announcement of New Instagram NFT Partnership appeared first on The Daily Hodl.

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

Meta enables Instagram NFT integration in over 100 countries

Mark Zuckerberg's company, which posted a sharp loss in its Metaverse division in Q2, unveiled its digital asset expansion strategy on May 10, 2022.

According to a Meta newsroom post updated on Thursday, the Mark Zuckerberg-led company has begun its nonfungible token (NFT) expansion across 100 countries in Africa, the Asia-Pacific, the Middle East and the Americas. This includes adding support for wallet connections with Coinbase Wallet and Dapper as well as the ability to post digital collectibles minted on the Flow blockchain. The initial rollout targets the popular social media app Instagram.

One needs to simply connect their digital wallet to Instagram to post an NFT, the company said in its updated post. Third-party wallet integrations with Rainbow, MetaMask, Trust Wallet, Coinbase Wallet and Dapper Wallet are either complete as of Thursday or are coming soon. Supported blockchains at this time are Ethereum, Polygon and Flow. There are no fees associated with posting or sharing a digital collectible on Instagram.

Flow is a layer-1 blockchain with its namesake FLOW token acting as tender for network participation, transactions and governance. Notable ecosystem partners include Warner Music, Ubisoft, National Basketball Association, Ultimate Fighting Championship, Animoca Brands, Circle, Binance, OpenSea and now Meta.

Related: FTC files lawsuit against Meta over attempted monopolization of metaverse

Along with the metaverse, digital assets appear to have become one of Meta’s core components for expansion. During the second quarter of 2022, the company’s revenue fell 1% year over year to $28.8 billion while its operating income decreased by 32% to $8.36 billion in the same period. CEO Mark Zuckerberg said he was unfazed by the whopping $2.8 billion loss in the company's Metaverse division, and that instead there was an opportunity to make “hundreds of billions,” or even “trillions,” of dollars as the sector matures.

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

Ethereum (ETH) Creator Vitalik Buterin Predicts Facebook Attempt To Build Metaverse Will Fail

Ethereum (ETH) Creator Vitalik Buterin Predicts Facebook Attempt To Build Metaverse Will Fail

The co-founder of the world’s leading smart contract platform is skeptical that the first wave of the metaverse can succeed. Ethereum (ETH) creator Vitalik Buterin tells his 4.1 million Twitter followers that while the concept of an online virtual world will eventually come to fruition, he thinks that current corporate visions for the metaverse are […]

The post Ethereum (ETH) Creator Vitalik Buterin Predicts Facebook Attempt To Build Metaverse Will Fail appeared first on The Daily Hodl.

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

Ethereum Co-Founder Vitalik Buterin Criticizes Corporate Metaverse Attempts — ‘Anything Facebook Creates Now Will Misfire’

Ethereum Co-Founder Vitalik Buterin Criticizes Corporate Metaverse Attempts — ‘Anything Facebook Creates Now Will Misfire’On Saturday, the co-founder of Ethereum, Vitalik Buterin, took to Twitter and gave his perspective on the “existing corporate attempts to create the metaverse.” Buterin noted that a metaverse will happen, but he doesnt believe the current corporate metaverse attempts are going anywhere. Ethereum’s Vitalik Buterin Shares His Thoughts on Existing Corporate Metaverse Attempts This […]

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

Alphabet, Microsoft and Now Meta Release Disappointing Quarterly Earnings

Alphabet, Microsoft and Now Meta Release Disappointing Quarterly EarningsMeta joined Alphabet and Microsoft in releasing disappointing quarterly financials, following the company’s Q2 earnings call. In a week of a disappointment for mega-cap stocks, the trio has all missed revenue and earnings expectations, with Meta seeing its first quarterly sales decline ever recorded. Economic Slowdown Due to the current global economic slowdown, markets had […]

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

FTC Files Lawsuit Against Social Media Giant Meta for Allegedly Violating Antitrust Laws

FTC Files Lawsuit Against Social Media Giant Meta for Allegedly Violating Antitrust Laws

The Federal Trade Commission (FTC) is filing a lawsuit against social media titan Meta for allegedly monopolizing the metaverse. In a new press release, the regulatory agency says it’s suing the company, along with CEO Mark Zuckerberg, for attempting an illegal acquisition that would greatly expand Meta’s grasp of the virtual reality industry. “The company’s […]

The post FTC Files Lawsuit Against Social Media Giant Meta for Allegedly Violating Antitrust Laws appeared first on The Daily Hodl.

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

FTC files lawsuit against Meta over attempted monopolization of metaverse

The government watchdog previously filed a lawsuit against the social media giant in 2020 for alleged “anticompetitive conduct” in its acquisitions of WhatsApp and Instagram.

The United States Federal Trade Commission, or FTC, has filed a lawsuit against Meta and CEO Mark Zuckerberg in an attempt to stop the social media giant from “its ultimate goal of owning the entire ‘metaverse’.”

In a complaint filed in the Northern District of California on Wednesday, the FTC alleged Meta’s and Zuckerberg’s potential acquisition of virtual reality firm Within and its fitness app Supernatural was illegal according to U.S. antitrust laws and a way for the social media firm to “buy its way to the top” as opposed to “competing on the merits.” The complaint alleged that under Zuckerberg, Meta was “a potential entrant in the virtual reality dedicated fitness app market” with the resources necessary to develop its own app, but instead chose to own Supernatural by purchasing Within. The move would allegedly hinder “future innovation and competitive rivalry” among companies in the United States.

“As Meta fully recognizes, network effects on a digital platform can cause the platform to become more powerful — and its rivals weaker and less able to seriously compete — as it gains more users, content, and developers,” said the complaint. “The acquisition of new users, content, and developers each feed into one another, creating a self-reinforcing cycle that entrenches the company’s early lead. This market dynamic can spur companies to compete harder in beneficial ways by, for example, adding useful product features or hiring additional employees.”

The FTC said it planned to block Meta’s acquisition of Within in an effort to promote competition and help consumers:

“The mere possibility of Meta’s entry has likely influenced competition in the virtual reality dedicated fitness app market. If Meta is allowed to buy Within, that competitive pressure will slacken.”

Meta’s move toward allegedly acquiring any potential threats to its bottom line is nothing new. In 2020, the FTC filed a complaint against Facebook — before the firm rebranded to Meta — for “anticompetitive conduct” for its $19 billion acquisition of WhatsApp in 2014 and $1 billion purchase of Instagram in 2012, citing similar concerns around stifling innovation. Both apps, handling messaging services and photo sharing, respectively, were alleged rivals to Facebook’s Messenger app and main platform.

“Facebook’s acquisition of Instagram for $1 billion in April 2012 allegedly both neutralizes the direct threat posed by Instagram and makes it more difficult for another personal social networking competitor to gain scale,” said the FTC at the time. “[Its] acquisition of WhatsApp allegedly both neutralizes the prospect that WhatsApp itself might threaten Facebook’s personal social networking monopoly and ensures that any future threat will have a more difficult time gaining scale in mobile messaging.”

Related: Experts clash on where virtual reality sits in the Metaverse

Since Facebook rebranded to Meta in October 2021, the social media firm has announced many initiatives focused on expanding into the metaverse, including potentially launching a payments platform with support for cryptocurrency. In May, Meta opened a brick-and-mortar store in the San Francisco Bay Area which sells hardware for the virtual reality space.

Unless the court stops Meta from acquiring Within, the sale would likely go through on Aug. 1 according to the complaint.

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

Hacker Selling 1 Billion Chinese Citizens’ Data for 10 BTC, Zuckerberg’s Meta Ends Novi Project, and More — Bitcoin.com News Week in Review

Hacker Selling 1 Billion Chinese Citizens’ Data for 10 BTC, Zuckerberg’s Meta Ends Novi Project, and More — Bitcoin.com News Week in ReviewIn this week’s bite-sized digest of the hottest stories from Bitcoin.com News, a hacker claims to have stolen a massive amount of Chinese citizens’ personal data from Shanghai police, and now wants to sell it for ten bitcoins. Also, Mark Zuckerberg’s Meta has ditched the Novi project, after unveiling a new metaverse wallet. These stories […]

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong

Meta to Slow Hiring in 2022, Hints at Layoffs After Metaverse Pivot

Meta to Slow Hiring in 2022, Hints at Layoffs After Metaverse PivotMeta, the company formerly known as Facebook, is preparing to face a strong market downturn. According to reports, Mark Zuckerberg, CEO of Meta, announced a change in the hiring policies of the company, lowering the number of engineers planned to be hired from 10K to 6-7K. Previously, Zuckerberg had warned about the metaverse pivot of […]

First ‘AI to AI’ Crypto Payments Now Underway, According to Coinbase CEO Brian Armstrong