Columns

Chinese TV’s crypto ‘bull run’ report censored, Multichain crisis: Asia Express

Chinese state TV’s crypto news report gets memory holed, Multichain token plunges as arrest rumors swirl, memecoin hype subsides, and more.

Crypto embraced, then forgotten by Chinese state television

On May 23, China Central Television (CCTV), the countrys government-owned broadcasting corporation, aired a short, 98-second segment regarding the adoption of cryptocurrencies in Hong Kong.

During the session, state news anchors briefed its audience on how Hong Kong regulators have made final preparations for the trading of virtual assets in the special administrative region and will accept applications from virtual asset trading platforms. Interestingly, nothing overtly negative about cryptocurrencies was mentioned during the broadcast a sharp contrast to Chinas official policy that banned cryptocurrency mining and exchanges elsewhere in the country.

For some viewers, such as Binance CEO Changpeng Zhao, the programming represented a big deal. Zhao reports that the Chinese speaking communities are buzzing. Historically, coverages like these led to bull runs.

Unfortunately, the euphoria was short-lived, as Chinese authorities appear to have taken down the link just two days after the program aired. This wasnt the first time such incidents have occurred. Last month, Douyin, the Chinese version of TikTok, began publishing cryptocurrency price quotes within its in-app search index. The move stirred a major bullish frenzy among Chinese crypto users, but the price quotes were removed from the app just one day later, replaced by a message stating: Unofficial digital currencies do not possess the same legal standing as fiat currencies. Please invest cautiously.”

The now-deleted CCTV HK crypto segment (Web3 dongxiang)

Hong Kong finalizes cryptocurrency regulations

In addition to allowing virtual asset trading platforms to obtain proper licensing, SFC officials stated on May 23 that exchanges could also provide services to retail investors, contrary to its guidance last May that focused on an institution-only approach.

Shortly after the announcement, cryptocurrency exchange Gate.io kickstarted its Gate.HK platform for registration and trading services in the special administrative region. Then, Hong Kong virtual bank ZA Bank said it would launch virtual asset trading services for retail investors under the new Hong Kong licensing regime. Now that the rules are crystal clear, the SFC wrote:

Operators of virtual asset trading platforms who are prepared to comply with the SFCs standards are welcome to apply for a licence. Those who do not plan to do so should proceed to an orderly closure of their business in Hong Kong.

Do Kwons bail revoked

Before the collapse of the $40 billion Terra Luna (LUNC) ecosystem in May 2022, Terraform Labs co-founder and CEO Do Kwon was known for making fun of critics based on their level of wealth compared to himself (your size is not size.”)

However, it appears that Kwon has finally gotten into some trouble that cannot be solved with money. On May 25, the High Court of Montenegro revoked both Kwons, and former Terraform Labs chief financial officer Han Chong-joons 800,000 euro ($858,000 bail and ordered their return to jail from previous house arrest. The blockchain executives were apprehended on March 23 in Podgorica Airport over allegedly falsified documents after being on the run for roughly six months from an Interpol Red Notice.

Kwon faces up to 40 years imprisonment in the criminal proceedings against him in South Korea and five years in prison on the falsified charges in Montenegro. Court filings state:

In the renewed proceedings, the court will proceed according to the High Court’s grounds for termination and after that make a decision based on the proposal of the defense counsel for the defendants to accept bail. By the decision of this court, the defendant’s detention was extended. The main hearing is scheduled for June 16.

Do Kwon taken away by Montenegrin Police for detention (Twitter)

Cross-chain token plunges 30% after arrest rumors

On May 24, the token price of Singaporean cross-chain router protocol Multichain (MULTI) fell by 30% over 24 hours to trade at $4.97. The sell-off began after users reportedly had abnormally long transaction times following a recent backend node upgrade that caused certain routes, such Kava, zkSync and Polygon zkEVM, to become temporarily suspended.

While the project promised that all affected transactions will arrive after the upgrade is complete, investor alarm turned into a full-blown panic after one user tweeted arrest rumors. The tweet, which garnered 820,000 views, alleged without evidence that Multichain developers had been arrested by Chinese police with $1.5 billion dollars of contract funds under control. Multichain is currently headquartered in Singapore with around $1.6 billion in total value locked.

Read also
Features

All rise for the robot judge: AI and blockchain could transform the courtroom

Features

Wild, Wild East: Why the ICO Boom in China Refuses to Die

Alfred Xu, a Multichain co-founder, quickly stated thereafter in the protocols Chinese Telegram chat that: Currently all team members are safe and sound, the main operations are proceeding as normal.

However, on May 25, Chinese blockchain news aggregator PANewsLab reported that Multichain co-founder and CEO Zhao Jun is currently unreachable. At the same time, DeJun Qian, another co-founder of Multichain, said on Twitter that while he is personally safe and sound, he, too, could not reach fellow co-founder and CEO Zhao Jun.

On May 25, Binance announced that it would be suspending 10 bridge networks associated with Multichain until it receives clarity from the development team. It has since resumed the Fantom to Ethereum Multichain bridge. The same day, Andre Cronjes Fantom protocol ceased providing liquidity with MULTI on the decentralized exchange Uniswap due to uncertainty surrounding the development team but said funds had not been sold. Approximately $777 million in funds of Ethereum, $405 million on BNB Chain, and $100 million in funds on Fantom are currently held with Multichain.

Multichain’s total value locked over time (DefiLlama)

Memecoins come, memecoins go

After a period of crazy returns on investment and joint listings on Asia Pacific-focused crypto exchanges, the price of memecoins such as Pepe Coin (PEPE) and Milady (LADYS) have fallen by over 50% within the past two weeks. Though, in hindsight, this shouldnt have come as a surprise to anyone as developers of such tokens have warned that the coins they created have no intrinsic value, and are completely useless. According to a report published by cross-chain wallet developer BitKeep:

It is important to recognize that memecoins derive their value primarily from short-term hype and speculative fervor. Consequently, the likelihood of these coins retaining any significant value over the long term is relatively low. Memecoins typically exhibit remarkably short life cycles, and their popularity tends to wane relatively quickly. Therefore, it is prudent to approach memecoins as short-term investments that are best bought and sold during periods of peak popularity.

Ripple, Visa join HK CBDC pilot, Huobi accusations, GameFi token up 300%: Asia Express

Mastercard and Visa join Hong Kong’s CBDC pilot, new installment in Justin Sun’s Huobi soap opera, and a GameFi token pumps on no news.

Hong Kong partners with 16 companies to build CBDCs

On May 18, the Hong Kong Monetary Authority (HKMA) announced the launch of the cyber Hong Kong dollar pilot project. According to officials, 16 companies from the financial payment and technology sectors will conduct the first round of trials this year on the feasibility of a Hong Kong dollar central bank digital currency (e-HKD). Companies included in the pilot include Alibaba Groups Alipay Financial, Mastercard Asia, Ripple Labs, Visa and HSBC.

The digital Hong Kong dollar will start off with six potential use cases; comprehensive payments, programmable payments, offline payments, tokenized deposits, Web3 transaction settlements and tokenized asset settlements. The CBDC is scheduled for a three-stage approach, with the novel pilot program being an important aspect of the second stage.

However, the HKMA has not yet decided whether to officially launch the CBDC. It expects to share the results of the trials at Hong Kong Fintech Week 2023 in Q4. HKMA CEO Yue Wai-man commented:

“Although the HKMA has not decided whether or when the CBDC will be launched, we are pleased to launch the Cyber Hong Kong Dollar Pilot Scheme. This is a good opportunity for the HKMA to join hands with the industry to explore innovative use cases and prepare for the possible launch of the CBDC in the future”

Back in October 2021, Mastercard said that it would be preparing its payment infrastructure for integration with CBDCs. Likewise, Visa believes that stablecoins and CBDCs will play meaningful roles in payments and has an ongoing blockchain interoperability project related to the matter.

Senior company representatives at the unveiling of Hong Kong’s second phase of CBDC tests (HKMA)

Bitgets comfy run in Q1

According to its first quarter update published on May 17, cryptocurrency exchange Bitget reached $59 billion and $658 billion in spot and futures traded, respectively, representing growth rates of 8% and 27% from Q4 2022. In other metrics, the book value of the exchanges Protection Fund surged to $380 million from $300 million during the same period, aided by a bullish rally in the price of major cryptocurrencies.

The exchange says that its proof-of-reserves increased from 223% on December 20, 2022, to 246% on April 3, 2023, as it completed listings for 105 coins, bringing the total to over 500 listings. The exchanges native token, BGB, rallied by 120% during the quarter, to $0.47 at the time of publication.

Biget is committing $10 million over five years in a novel Blockchain4Youth initiative to offer blockchain courses and certifications through Bitget Academy and will host campus lectures in partnership with universities worldwide. In April, the exchange received its regulatory license in Lithuania, allowing it to provide crypto services both in and from the Baltic nation.

Bitget’s website traffic has also grown significantly during the same period (Bitget)

Huobis latest drama

On May 16, Justin Sun, the founder of Tron blockchain and relatively new de-facto owner of cryptocurrency exchange Huobi Global, published a series of allegations against Wei Li, the brother of Huobi Global co-founder Leon Li. In his statement, Sun accused Wei Li of receiving millions of Huobi (HT) tokens through abnormal means at zero cost and of consistently selling off these HT tokens and cashing out.”

“We plan to engage with Li Wei to negotiate a refund and arrange for the destruction of his remaining HT tokens. This action is not only a matter of justice but also serves the best interests of everyone in the HT DAO community.”

Sun claims that Li Wei has not made any substantial contributions to our community.” and would therefore seek disgorgement of any profits related to Wei Lis sale of the tokens and send them to a null address for a token burn. In response, Wei’s brother Leon Li wrote:

“I hope Huobi can provide evidence. If it is confirmed that it is zero-cost HT was obtained through illegal means, I will personally pay 10 times the HT [amount] to Huobi company.”

Leon Li followed up by saying, “I hope that Huobi will return the users legal assets,” if the allegations are found to be false. In October 2022, Leon Li and fellow co-founder Du Jun reportedly sold 100% of the exchanges stake to an investment firm controlled by Justin Sun. Since changing owners, the exchange has seen its fair share of woes, although Sun claims that Huobi has returned to profit and things have settled. If youre curious, this wasnt the first abnormal action surrounding the Huobi token either…

No news is good news as GameFi token surges over 300%

On May 17, the token of NFT multiplayer online battle arena game Superpower Squad (SQUAD) surged by over 300% to a high of $0.017 apiece within a single day before its pullback. No material news was associated with the development, and the tokens price has mostly been on a losing streak since March.

Superpower Squads developers tell Asia Express it has two game modes in development. The first is a Zombie Crisis survival mode where the top surviving players would receive NFT props (items used to kill enemies) upon round completion. In the second game mode, players would receive unique buffs (temporary powers) depending on the clan composition of NFT heroes, with each clan requiring one NFT hero of legendary rarity.

Read also
Features

Airdrops: Building communities or building problems?

Art Week

Defying Obsolescence: How Blockchain Tech Could Redefine Artistic Expression

The devs stating things are still moving comes after community speculation that the game had ceased development as the price of SQUAD dropped on also seemingly no news. The game previously surpassed 100,000 downloads in January.

Superpower Squad is by no means the first blockchain project to have high price variance for no particular reason. On April 14, shares of Singaporean Bitcoin (BTC) mining operator SAI.TECH surged by over 360% in one day to a high of $7.42 before giving back much of its gains. Like Superpower Squad, SAI.TECH had no material announcements either before or after the wild price action.

Superpower Squad’s mysterious rally on May 17 (CoinMarketCap)

Top 10 crypto artist Trevor Jones on being rich, rekt and rich again: NFT Creator

Trevor Jones creates NFTs fit for a King, he sold $4.3 million of NFTs in a day and he’s among the most celebrated crypto artists in the world.

With a total artwork value of $24 million Trevor Jones is one of the Top 10 most successful crypto artists worldwide.

Trevor Jones journey to crypto art stardom started the same way as many crypto noobs: His portfolio went way up, he failed to take profits, and the price came crashing down wiping out the paper gains.

A traditional painter, Jones always wanted to explore the intersection of art and technology, and he experimented with QR code oil paintings in 2012 and dived into AR art in 2013. 

But it was his 2017 investment in Bitcoin that sparked deep curiosity in what this new world of crypto and blockchain was about. After getting rekt in 2018s crypto winter, Jones turned his attention from crypto trader to crypto painter. He says:

I caught that bull run and made a lot of money and then lost a lot of money in 2018. It all went up and all came crashing down.

I really fell down the rabbit hole and got completely excited about the space and the people. I was following whoever I could on Twitter, the likes of Vitalik Buterin and John McAfee and characters like that. Very quickly, I started having thoughts that this is something I would like to explore with my art. 

The Eccentric - John McAfee by Trevor Jones
The Eccentric – John McAfee by Trevor Jones at Crypto Disruption Exhibition. (trevorjonesart.com)

Crypto art was almost non-existent as a genre in 2018 within traditional art circles, so Jones took it upon himself to hire a commercial gallery to stage a crypto-themed exhibition where he showcased some of his first original crypto art at the Crypto Disruption Exhibition.

The 12 paintings I did were all inspired by the crypto space, and from the new perspective I was coming in from, I didnt know a lot about it at the time. I focused on some of the characters, such as Satoshi Nakamoto, ideas and themes like the bull and the bear, hodling and riding the wave. It was kind of me figuring out how to visualize this space through these paintings, he said. 

I sold almost everything from the exhibition to anonymous collectors around the world where they paid me in Bitcoin and Ethereum. It really blew my mind because normally when you go through an art gallery to sell work, you dont get to meet the collectors for the most part, its all done behind closed doors. Youd hopefully receive money two to three months down the line when the gallery pays you out. 

To get paid immediately was just so eye-opening. A few of the paintings were actually sold before the exhibition even opened. I was just posting some images on Twitter and somebody would reply saying they liked it and how much is it? Id tell them a number, and theyd just send me some Bitcoin, and the sale was done. It was just the most surreal thing. 

Oil paintings to NFTs

With a path similar to Josie Bellinis, from crypto artist first to NFT artist second, Jones recalls Coin Fest in April 2019 in Manchester being a pivotal moment. David Moore from Known Origin tried to explain to him why he should be interested in NFTs.

Coming from the perspective of a traditional artist who had a very successful exhibition of paintings that were selling between $5,000 and $12,000, I was grappling with the fact that NFTs at this time were only selling for about $20 or being gifted, Jones says.

It didnt make sense in my head that I should sell a digital representation of a painting for $30 when the physicals were being sold for five figures.

But Jones continued to investigate the world of NFTs, tapping into newfound relationships with the likes of Alotta Money, Pascal Boyart and Coldie. He paid particular attention to Matt Kane and Coldie in the back half of 2019 who were starting to make sales in the hundreds or thousands of dollars and started to think maybe theres a way that it makes sense to bring my work together with a digital counterpart.

He says he was initially hesitant out of concern for collectors of his physical art who had paid top dollar. I felt that it would be disrespectful to then sell that painting for $30, but I was still learning about editions and all the nuances of the space at the time, he says.

The Canadian artist was an instant success when he finally decided to take the NFT plunge. His very first NFT titled EthGirl, a collaboration with NFT art legends Alotta Money, broke the record for the highest sale on SuperRare, selling to ModeratsArt for 72.1 ETH ($10,207 at the time of sale). 

Read also
Features

The Lizard People Invented Bitcoin: Crypto is a Hotbed for Conspiracy Theories

Features

South Koreas unique and amazing crypto universe

Alotta Money is the most amazing dude. I worked with him on EthGirl, which was inspired by the Picasso piece Girl with a Mandolin. It was a big oil painting I did, and he animated it. It was still super early days in the NFT art scene, but it caused a huge bidding war between Moderats and Whale Shark and ended up breaking records. 

Everybody was talking about it because this was really the first time that I think artists, including myself, realized we could actually make a living from selling digital art through NFTs. It was really a pivotal moment I believe in the space. It raised a lot of eyebrows to where we might be headed. Check it out by clicking the Play button in the tweet below.

Personal style

Coming from a traditional art background but with a love of technology and an appreciation for history, Jones says his style is hard to label, but his aim was to be a social realist in this space to capture moments in the crypto space but also in the real world.

I dont really have a unique style, but my work is always connected to the long history and tradition of painting and art history. I studied art history at university for five years. Im somewhat of an anachronism in this space of crypto; heres this crazy innovative digital new world and then some old painter dude comes in and starts working away, and people like what Im doing. 

Read also
Features

‘Deflation’ is a dumb way to approach tokenomics… and other sacred cows

Features

Get your money back: The weird world of crypto litigation

Ive been interested in technology for a while with my previous work painting QR codes and exploring AR back in 2013, so I think thats probably one of the reasons why the collectors in NFTs accepted me with open arms because theres a history of my curiosity in technology and innovation. 

Notable sales to date

Genesis Batman
Genesis Trevor Jones and Jose Delbo collaboration: Sold on Makers Place for 540.86 ETH ($204,445 equivalent on the date of sale) on Oct. 18, 2020. Included this Genesis Batman 1-of-1 sale for 302.5 ETH ($114,000 equivalent on the date of sale).

Castle Party

Jones, who has lived in Scotland since 1999, has put his own spin on what an NFT IRL event should look like with his Bitcoin Angels Castle Party. The event brings artists and collectors together for a two-night celebration. 

With Bitcoin Angel, my life changed entirely in seven minutes, and having spoken with a few bigger collectors on Twitter, one suggested I throw a castle party. At first, I thought it was a stupid idea, but after sleeping on it for a day or two, I came to realize it was a great idea. 

I have an opportunity through this castle party to thank all the people who bought one of my artworks. Thats really how it started off, to invite all the owners of Bitcoin Angels and a way of giving back to my community, and its grown from there. 

The 2023 castle party will be held in France from September 3 to 5, with holders of Jones artworks receiving discounted tickets. More information here.

The Oath Coronation NFT

To celebrate the coronation of the new King, Jones recently teamed up with the Evening Standard newspaper and Apollo Entertainment to release an open-edition NFT titled The Oath to own a piece of history. 

It was a free mint dropped on Nifty Gateway, with 20,200 being minted, which set a record for an open-edition mint on the platform. 

I thought it was a cool opportunity to capture a moment in history and get people excited about digital art and what NFTs are. The Evening Standard is one of the biggest U.K. publications, and this was a chance to create something with them to get disseminated out into the real world, said Jones. 

Which hot NFT artists should we be paying attention to? 

Jones cites four artists who were part of the #ArtAngelsNFT series he created to shine a spotlight on emerging artists. 

Saint MG (@SaintMG1) Artist and architect from Colombia. Lost Angel in the digital renaissance.

Nurart (@NurArt_) Visual artist from Cuba. Weaver of symbols.

Richard Masa (@RichardMasaArt) Abstract-surrealist from Paris.

Maria Fynsk Norup (@mariafynsknorup) Conceptual self-portrait artist from Denmark. Emotional storytelling.

Art Angels could be considered somewhat of a Shark Tank show meets the dating game. Its where wed connect artists and collectors. Its been life-changing for some of the artists involved. Saint MG made a 1-of-1 sale on SuperRare and some other sales and sold about $9,000, which is a lot in his hometown of Colombia.

Nurart from Cuba has also made life-changing money from some sales and is such a great artist. Richard Masa is absolutely phenomenal, just an amazing artist, be sure to check him out. Maria as a photographer is really special her work just takes you to places. 

Favorite NFTs in your wallet:

La Peste Bleue by Alotta Money 

(r)Evolution by Alotta Money (gifted by ModeratsArt) 

(r)Evolution by Alotta Money.
(r)Evolution by Alotta Money. (Known Origin)

Twitter: twitter.com/trevorjonesart 

Linktree: linktr.ee/trevorjonesart 

Website: trevorjonesart.com/

Make 500% from ChatGPT stock tips? Bard leans left, $100M AI memecoin: AI Eye

How to create a $100M memecoin with ChatGPT, $50K portfolio handed over to AI targeting 500% return, and will writers have a job in future?

Your guide to the exhiliarating and vaguely terrifying world of runaway AI development.

Its been a hell of a couple of weeks for Melbourne digital artist Rhett Mankind, 46, who enlisted ChatGPT to create a $100 million market cap coin called Turbo, which has now inspired a Beeple artwork and saved a mans life.

Mankind, who knows nothing about coding, gave ChatGPT a $69 budget and asked it to design a top 300 memecoin. It came up with the tokenomics, the name TurboToad and Mankind used Midjourney to create the logo. Thanks to interest sparked on social media, CoinGecko shows the token hit a $100M valuation and joined the Top 300. 

TurboToad
AI artwork for TurboToad. (Twitter)

There were a few hiccups: ChatGPT writes shitty smart contracts, and Mankind needed it to ask it for numerous rewrites based on error codes. The AI also didnt warn Mankind to look out for the bots that bought 90% of the token supply when it launched.

That put an end to the TurboToad token and he had to crowdfund another $6669 to launch the new token Turbo, with NFT collector Pranksy helping by launching a liquidity pool on Uniswap. 

NFT artist Beeple then immortalized the memecoin with the worlds most immature artistic depiction, which the worlds most immature billionaire, Elon Musk, thought was hilarious.

The interest in Turbo also saw his 100 NFT collection (created using AI) called Generations sell out, and he received a message from a suicidal man saying his story had been life-saving.

“He sort of says he owes me his life because of that, and of course he doesn’t, but just to know that it’s affected so many people in a positive way, I was very surprised and sort of humbled by that response,” he says.

Mankind says ChatGPT means anyone can now launch a $100 million token. 

“Im just a solo dude, I dont have a team of people who have a huge amount of knowledge of certain things. And I could achieve this by myself with AI.

Mankind has handed over control of the project to a decentralized community and is in the process of rebuilding the website so they can control it via ChatGPT.

“Im going to close the gap between the community and the AI,” he says, adding the community will be able to interact directly with ChatGPT via a token-gated governance process. Tokenholders might vote for someone to come up with the prompt that week and thats what the community does for the week, whatever the AI comes up with.”

Will AI take our jobs? Writers’ edition

Professional writer Whamiani told Reddit hed lost all his writing clients to ChatGPT and intends to retrain as a plumber.

“I have had some of these clients for 10 years. All gone. Some of them admitted that I am obviously better than chat GPT, but $0 overhead cant be beat and is worth the decrease in quality.”

So can AI really replace human writers? ChatGPT can certainly replace “content mills” where authors are paid peanuts to churn out filler copy for websites; however, at this point, AI just regurgitates existing content and cant conduct interviews or produce creative and original new content yet. 

But that doesnt mean cost-cutting websites arent going to try. CNET, Bankrate and AP are using AI to generate boring finance reports, while NewsGuard has identified 49 websites that are wholly generated by AI, including Biz Breaking News, Market News Reports, and bestbudgetUSA.com. 

Theres no clear competitive advantage to using AI writers, however, as Semrush Chief Strategy Officer Eugene Levin told the Washington Post:

The wide availability of tools like ChatGPT means more people are producing similarly cheap content, and theyre all competing for the same slots in Google search results.”

Death of an Author
AI-generated novel Death of an Author. (Amazon)

So they all have to crank out more and more article pages, each tuned to rank highly for specific search queries, in hopes that a fraction will break through.

But what about using AI for more creative writing like movies, TV shows and books? Novelist Stephen Marche has produced a murder mystery novella called Death of an Author (geddit?) which was 95% written by ChatGPT. The New York Times called it “halfway readable and it has 3.7 stars on Amazon. 

In Hollywood, the Writers Guild is on strike, and demanding a ban on the use of AI content. Writer C. Robert Cargill said: You think Hollywood feels samey now? Wait until its just the same 100 people rewriting ChatGPT.

AI content creator Curious_refuge gave us a glimpse of this dystopian future in an experiment (see below) where “100% of the news curation, jokes, artwork, and voice” for a fake late-night comedy show were handed over to AI. The results were awful so its hard to tell the difference, really. 

Is Bard left-wing?

Are chatbots politically biased to the left? ChatGPT came under a lot of criticism on the subject early on, and now so has Googles Bard.

The Australian newspaper reported that Bard chatbot said it hoped the Indigenous Voice to Parliament referendum which is opposed by right-wing parties would be a success; it praised Australias center-left prime minister for building a better future,” but said the reviled right-wing opposition leader was dangerous and divisive.” Google has since implemented a fix. In the UK, The Mail reported Bard thinks Brexit was a bad idea” and “the UK would have been better off remaining in the UK.” It also talked up former leader Jeremy Corbyn.

The Voice
ChatGPT’s answer about the Voice (The Australian)

When OpenAIs competing bot ChatGPT was released, it was criticized for being very left wing but research suggests it quickly became more neutral and centrist. It refused to give the Mail opinions about Brexit or Corbyn, for example. 

Large language models are trained on enormous volumes of content, much of which is produced by well-educated urban professionals, so it is not surprising it reflects their politics in part. One way AI firms combat bias is by fine-tuning the models via reinforcement learning with human feedback (RLHF), which tries to align the AI output with human values.

However, this may introduce other biases, according to OpenAI CEO Sam Altman. “The bias Im most nervous about is the bias of the human feedback raters, he said on a recent podcast.

So dont be surprised if your chatbot comes out strongly in favor of workers rights. NBC reported that human feedback AI raters are only paid $15 an hour and are starting to unionize.

Read also
Features

Why Animism Gives Japanese Characters a NiFTy Head Start on the Blockchain

Features

How to bake your own DAO at home With just 5 ingredients!

Can you make a 500% return trading with ChatGPT?

Various media outlets got very excited about a University of Florida study found that ChatGPT is able to predict stock market price movements and had made a 500% return. It’s not quite that simple.

While the paper did find a statistically significant predictive effect by asking ChatGPT to recommend stocks based on sentiment, critics point out such a return is far from a sure thing. Six different strategies were tried; three made money, and three lost money. While one of the six did return 500%, one strategy also lost 80%. 

Were about to find out if ChatGPT can predict stock prices using the winning strategy in real life, with Autopilot co-founder Chris Josephs setting up a $50,000 portfolio and letting ChatGPT suggest the trades from this week. You can follow along here.

Videos of the week

Instagram user Jim Derks posted footage from Coyboys and Aliens on the Stable Diffusion subreddit to showcase how AI can automagically transform old Harrison Ford into young Harrison Ford.

Although Hollywood has performed expensive versions of this trick including in the new Indiana Jones movie Dial of Destiny AI tools make it as easy as slapping on an Instagram filter. The top Reddit comment suggested it will become the next autotune of the entertainment industry to sharpen up the actors looks.

Curious_refuge had a big hit with its Wes Anderson version of Star Wars (featured in the last edition) so they applied the same tricks to Lord of the Rings. It might be just me, but the gimmick feels like it has run its course now.

Alameda’s $38B IRS bill, Do Kwon kicked in the assets, Milady frenzy: Asia Express

IRS wants $38B in unpaid taxes from Alameda, Milady token surges 3,000%, restraining order for Arthur Hayes over 3AC “threatening” words.

IRS wants $38 billion tax from Alameda

According to recent filings by the claims agent of bankrupt cryptocurrency exchange FTX, the United States Internal Revenue Service is claiming a total of $44 billion from the exchanges bankruptcy and related firms, including $38 billion against its sister quantitative trading firm, Alameda Research. In one single claim, the IRS assessed $20.4 billion in unpaid partnership and payroll taxes against Alameda Research LLC.

Founded in September 2017 by Sam Bankman-Fried and Tara Mac Aulay and led by Caroline Ellison, Alameda was headquartered in Hong Kong and conducted up to $5 billion worth of trades per day at its peak. Hong Kong does not levy taxes on capital gains. However, being U.S. nationals, its founders and key executives are obligated to pay taxes on their worldwide income irrespective of where they reside and how many days they actually spend in the U.S. each year, under the highly unusual U.S. taxation by citizenship regime.

The partnership taxes assessed by the IRS suggests it believes the entity operated on a partnership basis, where, unlike corporations, profits are not taxed at the entity level but are instead passed through to its partners and subsequently taxed at the individual level.

If the IRS prevails, it could mean bad news for the creditors. According to the filing, the IRS is claiming a total unpaid taxes of $44 billion from FTX and related companies. The IRS claims would take precedence over those of unsecured creditors, such as FTXs one million users, during bankruptcy proceedings. Despite their best efforts, bankruptcy trustees and law firms have only managed to locate $7.3 billion in assets from FTX and related entities.

A purported $20.4 billion IRS claim against Alameda Research circulating this week. (Twitter)
A purported $20.4 billion IRS claim against Alameda Research circulating this week. (Twitter)

Milady NFTs and token frenzy

On May 8, seeing the traction surrounding meme tokens, a group of self-organized developers created the Milady (LADYS) token on Ethereum, basing their design on the popular anime nonfungible tokens collection of the same name. The token has no association with Milady Mixer nor Charlotte Fang, the creators of the Milady collection.

Read also
Features

Thailands Crypto Utopia 90% of a cult, without all the weird stuff

Features

ZK-rollups are the endgame for scaling blockchains: Polygon Miden founder

Developers stated that 94% of the tokens were sent to the liquidity pool (LP). LP tokens were burned, and the contract is renounced.” Another 1% was airdropped to Milady NFT holders, with the remaining 5% reserved in multisig wallets for future milestones. In addition, developers warned:

“$LADYS is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. The coin is completely useless and for entertainment purposes only.”

However, it appears that investors thought otherwise. At the time of publication, each LADYS token is worth $0.0000001285 apiece, an increase of 3,254% in one days time. On May 10, American business magnate Elon Musk tweeted a meme containing the image of a Milady NFT, causing the collections average sale price to spike.

On May 11, Asia-Pacific-focused exchanges such as Gate.io Bybit, Bitget, MEXC Global, and Huobi all began listing the meme token. At the time of publication, LADYS market cap has surpassed $100 million, with $245 million in volume traded within the past 24 hours.

The price of Milady NFTs after Musk's shill. (OpenSea)
The price of Milady NFTs after Musk’s shill. (OpenSea)

Do Kwons prospects: Bad to worse

Last May, Terraform Labs co-founder Do Kwon was a bourgeoning South-Korean billionaire at the helm of the $40 billion Terra Luna and TerraUSD dual-token ecosystem. One year later, Kwon is behind bars in the Baltic nation of Montenegro, awaiting trial on charges of falsifying documents. Luna, his lifes work, now sits in ruins, while Kwon faces extradition on fraud charges from both South Korean and U.S. prosecutors related to the collapse of Terra/Luna, on top of his Montenegrin legal woes.

Kwons actions have truly upset a lot of people. The disgraced South Korean entrepreneur faced yet another setback on May 10, when South Korea Chief Judge Yun Chan-Young froze 233.3 billion Korean won ($176 million) worth of Kwons personal assets.

Read also
Features

You dont need to be angry about NFTs

Features

Zooko’s Triangle: The Human-Readable Paradox at the Heart of Crypto Adoption

The prohibition extends to the sale of Do Kwons luxury apartment in Seoul, a new mixed-useproperty in Nonhyeon-dong and a series of imported cars. The order also bans the disposition of Kwons financial assets, such as securities, bank deposits and cryptocurrency stored in personal accounts on digital currency exchanges. Multiple criminal proceedings across jurisdictions against Kwon are currently ongoing.

Meanwhile, his attorneys have proposed releasing Kwon on bail at 400,000 euros ($437,000), which the court is yet to decide on.

3AC co-founder scores victory

Once upon a time, a wise Chinese sage said something to the effect of, If you cant solve a problem, then the least you can do is to solve the person who raised it.”

On May 5, Singaporean judge Sandra Looi Ai Lin of the Protection from Harassment Court issued a restraining order against BitMEX co-founder Arthur Hayes. The judgment came at the request of attorneys representing co-founder Su Zhu of Three Arrows Capital (3AC), a Singaporean hedge fund undergoing bankruptcy proceedings with total claims of $3.5 billion. Among other items, the restraining order prohibits Hayes, under the penalty of fines and or imprisonment by Singaporean authorities, from:

“By any means, using any threatening, abusive or insulting words or behaviour, or making any threatening, abusive or insulting communication, that would cause the Applicant [Su Zhu] harassment, alarm or distress.”

Hayes is one of 3ACs many creditors, with an alleged personal claim of $6 million. But unlike his colleagues, who prefer to stick with official British Virgin Island bankruptcy court communications in reclaiming funds (to mixed results), Hayes regularly calls out the 3AC co-founders behavior on Twitter. In one instance, he wrote, be warned. I want my fucking money,” in response to a purported Bahrain sovereign wealth fundraise by Zhu and his colleague Kyle Davies.

Despite their financial woes, it appears that Zhu and Davies have largely bounced back from the unpleasant experience. Nowadays, Davies frequently boasts of his culinary skills on social media, while Zhu shares his take on world philosophy as it ties into 3ACs downfall.

Zhu Su's restraining order against BitMEX co-founder Arthur Hayes (Protection from Harassment Court of Singapore)
Zhu Su’s restraining order against BitMEX co-founder Arthur Hayes (Protection from Harassment Court of Singapore)

‘Ethical’ SBF game axed, Web3 games sign-up process sucks, Tomb Chaser: Web3 Gamer

FTX’s kiss of death for Storybook Brawl, Scratch Lord creators make MMA game for Animoca, and why is Web3 game onboarding so awful?

Our biweekly roundup for the Web3 gaming community, featuring news, reviews and the latest on new releases.

Storybook Brawl shuts down servers

Months after the spectacular collapse of Sam Bankman-Frieds crypto empire, the casualties keep coming. 

Good Luck Games, the creators of Storybook Brawl reportedly disgraced FTX CEO Bankman-Frieds second-favorite game after League of Legends took down its servers on May 1. The team said it had explored different options to continue, and unfortunately, there was no path forward.

Originally a non-crypto game that launched on Steam in June 2021, Storybook Brawl was an autobattler card game featuring characters from fairytales and legends. It peaked at 2,770 concurrent players in September 2021 and FTX Ventures acquired it in March 2022. 

Following the acquisition, gamers protested by leaving negative reviews for the game on Steam. 

Although it never developed to the point of releasing any of the planned blockchain integrations, Bankman-Fried, who is subject to a 13-count indictment, described the game as an opportunity for FTX to be the vanguard for the ethical integration of gaming and crypto transactions. Ironic. 

According to an article on ZDNet shared by Bankman-Fried on Twitter he and Good Luck Games CEO Matthew Place were childhood friends.

During Bankman-Frieds spate of interviews prior to his arrest in the Bahamas late last year, there was some debate as to whether he was playing Storybook Brawl which he promoted several times without mentioning FTX owned it or League of Legends during interviews.  

Nevertheless, fans of the game were generally sympathetic to the team, saying the game was fun while it lasted and that it was very upsetting to see the business side [of the game] ruining the gaming side.

Storybook Brawl was not the only game around which FTX coiled its tentacles. Perhaps the most prominent name in gaming impacted by the FTX fallout was Star Atlas. Half of its treasury was on the exchange at the time of the collapse. It has since been able to retrieve a portion of these funds, Star Atlas said in February.

Storybook brawl
Storybook Brawl featured characters from fairytales and legends (Storybook Brawl)

Immutable solving onboarding issues

Game development platform Immutable debuted a beta version of its gaming passport, a noncustodial wallet and authenticator solution. 

Technobabble aside, its basically an attempt to make onboarding to Immutables games easier.

This is welcome progress because onboarding to Web3 games is currently a pain in the gulliver and a major issue when it comes to adoption.

While many companies pay lip service to this issue, and there are a few contenders out there who want to be the Steam of Web3, the fact remains onboarding to a new Web3 game is time-consuming, laborious and needlessly complicated. And thats for experienced players, not just noobs.

For example, playing a game on Klaytn requires reconfiguring MetaMask and signing up for one of the few exchanges that sell Klay. If your luck is like mine, you change your password just before you try to withdraw the Klay, and then youre prevented from doing so for 24 hours.

Read also
Features

Why Animism Gives Japanese Characters a NiFTy Head Start on the Blockchain

Features

The Becoming of Bitcoin: A Narrative Untainted by Illusions of Truth

For Wax, you have to obtain Waxp from an exchange and pay into an account just to activate the wallet before you even get to a game. Too bad if your chosen exchange doesnt let you add a reference to a transaction because Wax requires that. 

Thats not to single these two out particularly. Its all rather awful. Even using a credit card to buy crypto via MoonPay can require anything from your date of birth and home address to full KYC, depending on where youre based. 

Compare that to just logging in on other gaming platforms and its hard to make the case that someone should abandon PUBG for a beta of something something when its going to take them hours just to work out how to sign in. 

Immutable said its passport would only require an email address, while future editions will add features such as purchases via credit cards and instant checkout.

MMA One Championship mobile game

Asias biggest MMA promoter, Singapore-based ONE Championship, is taking another punt at NFTs with a plan to launch a fighting game next year.

Working with Animoca Brands Notre Game, the game is slated for release in Q1 2024 on mobile.

It clears up a mystery from October for the few people who were interested. Animoca Brands acquired Notre Game in August 2022, when the Czech Republic-based studio was working on its flagship NFT game, Scratch Lords. 

Scratch Lords
Scratch Lords concept art. (Notre Game)

Two months later, the team took the tremendously difficult decision to put the development of its lovechild on hold, according to a Medium post. The team said that Animoca which, like ONE Championship, counts Sequoia among its investors had acquired a license from a major global brand, and theyd been tapped to run it.

Looks like this is what they were talking about.

The agreement is the latest in a string of deals between sports companies and Web3 studios, most of which follow a boilerplate plan to create a game with playable NFT characters based on real-life sports stars. 

But this isnt ONE Championships first foray into Web3 though its not quite clear whats going on with its first shot. In August 2021, it announced a partnership with a company called Theta Network for an NFT collection and an official marketplace. Neither seems to have materialized yet. 

Hot Take: The revamped Tomb Chaser

OG Decentraland game Tomb Chaser is back.

The former Egyptian pyramid created by Polygonal Minds returns as a cyberpunk pagoda meets Aztec temple. Or, as the team says, the original pyramid collapsed due to a cosmic movement inside the blockchain and the building reappeared without any ash as a cyberpunk pagoda which embodied the fusion of tech & spirituality.

Whatever that means. 

Playing Tomb Chaser
Playing Tomb Chaser. (Screengrab/Polygonal Mind)

In another episode of Callan Dies Repeatedly, the game consists of following a robed timekeeper through an obstacle course to reach the treasure at the top of the temple. 

But if that sounds simplistic, dont worry. There are plenty of opportunities to be sliced, crushed and fried which makes one sound like the ingredients of a stir fry while said timekeeper occasionally makes rude remarks about whether you like being punished. 

All in all, its a straightforward but enjoyable way to spend half an hour. The design of the complex is colorful, Illuminati triangles abound and theres plenty of lava to fall into. 

Other News

Aurory has launched a closed alpha of Aurory Adventures for its NFT holders.

Kuroro Beasts did a surprise drop of its Beast Brawl alpha on April 27. Its also working on an online creature-collecting RPG, Kuroro Wilds, according to a May 2 tweet.

Read also
Features

Lines in the sand: US Congress is bringing partisan politics to crypto

Features

US enforcement agencies are turning up the heat on crypto-related crime

Project Elunes first early access experience for its main game, StarGarden is currently available to Founding StarGarden NFT holders.

Mythical Games NFL Rivals launched on mobile on April 26.

MixMob rolled out a closed beta of MixMob: Racer 1 on April 25, plus it is getting a fresh new website on May 16. The PVE mode is free to play.

Pass holders can join Tearing Spaces battle RPG closed beta until May 31. 

Sci-fi card game Parallels closed beta is coming in July, according to the team on Twitter.

Justin Sun’s SUI-farming sins, PEPE’s wild run, 3AC’s oyster philosophy: Asia Express

CZ calls out Justin Sun for farming SUI at the expense of the little guys, “useless” PEPE up 20x, new 3AC venture in hot water in Dubai.

Our weekly roundup of news from East Asia curates the industrys most important developments.

SUI rises to glory as Sun sets sights on it

On April 30, cryptocurrency exchange Binance unveiled two LaunchPools for the then-up-and-coming listing of Sui tokens. As a layer-1 blockchain created by Mysten Labs, which in turn was founded by former Meta executives, the Sui project was eagerly anticipated and raised $300 million from venture capitalists such as FTX Ventures, Coinbase Ventures, Jump Crypto, a16z and Circle Ventures. On Binance, users could either stake BNB or TrueUSD (TUSD) to farm a share of 40 million Sui tokens.

To say that the LaunchPools were oversubscribed would be an understatement. Despite just 0.4% of the 10 billion Sui being up for grabs, the retail frenzy saw the BNB-Sui farm pool surpass 8.895 million BNB staked and the TUSD-Sui farm pool top 892.6 million TUSD staked, totaling a combined $3.8 billion at the time of publication.

The arguably well-oversubscribed BNB-Sui LaunchPool (Binance)

The thirst for Sui was so great that on May 1, Changpeng Zhao (CZ), co-founder and CEO of Binance, publicly rebuked Tron founder Justin Sun for a deposit of 56.1 million TUSD on the exchange.

Our team told Justin, if he uses any of these to grab the LaunchPool Sui token, we will take action against it. SMH. Binance LaunchPool are meant as air drops for our retail users, not just for a few whales,” CZ wrote.

Interestingly, it appears as if the publicity raised questions over the extent of Suns involvement in TUSD. On May 4, TrueUSD developers stated that TrueUSD was never owned by Justin Sun in response to allegations.

Anyways, Sun quickly apologized with regard to the deposit, claiming that the funds were intended for market making,” but nevertheless, some of our team members were not fully aware of the intended purpose for these funds,” and used them to participate in exchange campaigns.” The blockchain personality wrote that the Tron DAO has contacted Binance and arranged for a full refund.” On the same day, 278,752 SUI in farmed rewards were returned to the TUSD LaunchPool.

Three days after the Binance LaunchPool event, the Sui token was listed on Binance after its mainnet finally came online, with network transactions averaging a rate of five per second. That relatively low metric has not stopped Sui from having a fully diluted market capitalization of $13.65 billion, and thats despite a 70% plunge from its opening price in a matter of hours, according to CoinMarketCap. At the time of publication, each Sui was worth $1.36 apiece, representing a 1,260% gain from its offering price of 0.1 USDT last month.

All the wild trading was apparently too much for some exchanges to handle. On May 4, Mingxing Xu, founder of OKX, issued anapologyto customers who cant cancel order and purchased Sui at a higher price than intended.

“We are so sorry for the inconvenience and will fix the trading system bug asap to prevent it happening again in the future.”

Even the Sui team seemed concerned about the rampant levels of speculation, as they reportedly asked cooperative exchanges not to launch Sui perpetual contracts. Some ignored the request and immediately listed them anyway. The same day, Sui developers also launched the Sui Token Bridge, which connects 22 blockchains to Sui through Wormhole.

APAC exchanges love PEPE

On May 1, meme cryptocurrency PEPE surged by over 60% in a single day after cryptocurrency exchange OKX announced the listing of PEPE tokens. OKX staff wrote in the announcement that the underlying cartoon character, Pepe the Frog, is one of the most popular memes in the world.” Well, they werent going to highlight the use cases, with PEPEs own website calling it completely useless.”

OKX isnt the only exchange active in the Asia Pacific (APAC) region with a liking for PEPE. Around the week starting April 17, cryptocurrency exchanges BingX, Huobi, Gate.io, MEXC Global and Bitget all listed PEPE within days of one another. The move sparked a major bull run that saw the token soar over 2,000% to trade at $0.00000133 at time of publication.

PEPE's meteoric rise post listing (Gate.io)
PEPE’s meteoric rise post-listing (Gate.io)

Despite its popularity, its unclear if PEPE has any association with Matt Furie, the cartoonist who created Pepe the Frog (seems unlikely, however). The tokens creators have remained anonymous. It appears that investors dont seem to mind at all, as PEPEs total market cap has since surpassed $550 million. If you want to support Furies work, you can pick up a genuine Pepe NFT for under $30.

Read also
Features

Building community resilience to crises through mutual aid and Web3

Features

Are You Independent Yet? Financial Self-Sovereignty and the Decentralized Exchange

3AC founders philosophy is a pearl

Recently, Dubais Virtual Assets Regulatory Authority published a written reprimand of the OPNX Exchange, which was created by Singaporean hedge fund Three Arrows Capitals co-founders, Kyle Davies and Su Zhu. In the letter, regulators warned that OPNX was operating in the Emirate of Dubai on an unregulated basis,” and marketing and advertising the exchange and its native FLEX token without the necessary permits.”

“Following the launch, and with the continued lack of satisfactory remedial action by the responsible parties, VARA is continuing to actively monitor the situation and investigate OPNX’s activity to assess further corrective measures that may be required to protect the market.”

Last June, the Monetary Authority of Singapore reprimanded 3AC for exceeding its $188 million cap on assets under management and allegedly providing false information to investors. The defunct hedge fund owed approximately $3.5 billion to creditors when it filed for bankruptcy at approximately the same time.

But just like with 3AC, it appears that resolving regulatory scrutiny is neither a key priority for Davies nor Zhu. Shortly after the announcement, Davies, who now works as a professional chef, divulged his appetite for oysters while explaining their spiritual relationship to entrepreneurship in terms of Hellenistic and Classic Chinese philosophy. “They are a potent reminder of the power of turning harsh conditions into something beautiful.” Aw, shucks.

Meanwhile, Zhu, who is also a philosophy enthusiast, seems to have followed the Buddhist school by explaining to his audience the nonduality of political ideologies such as communism and capitalism.

For Davies, not even regulatory woes can takeaway the joy of extracting protein from deepwater mollusks while posing for the camera.
For Davies, not even regulatory woes can take away the joy of extracting protein from deepwater mollusks while posing for the camera. (Twitter)

3AC creditor and BitMEX co-founder Arthur Hayes discovered an even deeper meaning behind the pairs messages. He pointed out that there were exactly six oysters on Davies dinner plate, and theorized that each oyster symbolized one piece of his $6 million claim from 3ACs bankruptcy proceedings. Court procedures are currently ongoing.

NFT art pioneer wants to upload her brain so she can live forever: Josie Bellini, NFT Creator

NFT art pioneer Josie Bellini has already ensure her on-chain art can live forever — and she wants to upload her brain to the Metaverse too.

Who is Josie Bellini? 

Crypto artist Josie Bellini is most famously identified by her iconic Bitcoin gas mask from Filter. She has become one of the most prominent NFT artists, being featured at Christies and on just about every NFT marketplace platform available, including SuperRare, ASync Art and Nifty Gateway. 

Born and raised in Chicago, Bellini always had a passion for art. But growing up in poverty, she wanted to live a life of plenty, leading her to major in finance at college and take a job at a TradFi company. 

Weirdly enough, her desire to learn more about finance led her to crypto… which led back to art… which led to making money.

Filter GIF
Still image of Filter GIF by Josie Bellini. (OpenSea)

Growing up in poverty, you dont hear about stocks and investing, she says. I was thinking, I have all these clients that were investing, and they were making money, while they were asleep. I kept thinking, How can I do this?

She didnt have enough money to invest in half the things she recommended for clients, as she wasnt an accredited investor. A spark reignited about a paper shed written in college about Bitcoin, and she fell down the rabbit hole of Ethereum in 2017. 

I started to think deeper about crypto and how this could potentially be my breakthrough. I got obsessed, she says. Id ask myself questions of why Bitcoin was invented, why Ethereum came along, and what the differences between the two were. 

Bellini would attend Bitcoin meetups in her hometown, and before long, she quit her job to work in crypto, aiming to become a full stack developer by attending a coding bootcamp, but I absolutely hated it, I dont remember any of it. What I did love was the design side of it. 

I started making websites, logos and materials for blockchain conferences around the world and also crypto companies. That was my foot in the door to getting work in the industry. 

By the end of 2017 is when I made my first personal crypto artwork; that piece was called Genesis, and it blew up on Reddit. At the time, the term crypto art wasnt really a thing, and I wasnt using it then myself. What I was doing was creating themed art to spread awareness of cryptocurrencies. 

Crypto art to NFTs

It was nearly two years between Bellini making her first piece of crypto art (Genesis) to minting her first NFT as an artist (Tune In) on June 23, 2019. Tune In was a physical painting with the NFTs accompanying 21 prints. Its a timestamp for the NFT ecosystem in early 2019. 

In 2019, there were all sorts of NFTs at that time, CryptoPunks, CryptoKitties, Chain Breakers; you also had Cryptovoxels, Decentraland, Neon District and Autoglyphs had just come out, so I snuck those into the piece last second, Bellini says. 

In early 2022, CyberBrokers was born, a 10,001-NFT collection Bellini had been cooking up for years. Josie is the founder and CEO of the project, which considers itself a media and entertainment company focused on the metaverse. The art was hers with help from Azamat Khairov.

Read also
Features

Bitcoin ledger as a secret weapon in war against ransomware

Features

Fake employees and social attacks: Crypto recruiting is a minefield

Influences

Having grown up in the neighborhoods of Chicago, Bellini has developed a love for street art and graffiti, which shines through in her work, particularly the CyberBrokers collection. 

I grew up around a lot of street art. I was always interested in graffiti and all the different fonts.

A collector as well as an artist, Bellini collects a lot of other Chicago-based artists work and draws inspiration from the likes of Kayla Mahaffey (artist/illustrator from Chicago), Bisa Butler (award-winning African-American textile artist) and Hebru Brantley (contemporary American artist using anime and graffiti).

I fell in love with a lot of local Chicago artists like Kayla whos amazing. Also, Hebru [Brantley] whos really famous and does Flyboy.

Im also obsessed with Bisa Butler. Id die and go to heaven if I could own anything by Bisa, but everything is going to museums, Bellini says. 

Notable sales to date

CyberBrokers

While NFT insiders were well aware of Bellini prior to 2022, CyberBrokers caught the attention of the newer collectors on the block in NFT land. 

It shot out of the gates in March 2022 after a carefully curated allowlist process in February where Bellini and her team rewarded existing collectors of her art and Twitter and Discord followers. 

Minting at 0.35 ETH, the floor on the secondary market pushed up to the 45-ETH range within a month, including some massive sales for rares in the collection, such as Gnash for 150 ETH on March 31, 2022, and Tempo for 120 ETH on April 4, 2022.

Despite a sharp downturn in the NFT market in May, CyberBrokers remains focused on content, collectibles and experiences. Were born of crypto art and the metaverse. These are the things that I am obsessed about and have been living since 2017, says Bellini, who says the project is focused on innovation. 

This includes us being stored 100% on-chain. Weve released mechs which are full 3D, rigged and interoperable with many different virtual worlds. There are 17 billion combinations of the way people can mix and match their NFT. Were always trying to push the next thing that much further. 

Were building out a massive beautiful universe that you can peer into through our website. We have some of the most talented people that have ever stepped foot into this space on our team, and were not going anywhere.

Why on-chain NFTs matter

An often overlooked nuance to NFTs is whether they are stored on-chain or the art/image is pointing to a third party, such as IPFS. Bellini is a big proponent of true digital immortality.

What weve done specifically with our art was to create it in vector format, which means that the vector gets translated into code. The code knows where the points are, where the shapes live, where the colors live. Im simplifying this a lot, but basically, that code gets written into a contract, says Bellini. 

For example, lets say 200 years from now, Im gone, my teams gone; hopefully, Ive uploaded my brain to the internet, and Im living through some AI dupe of myself, but if that somehow doesnt happen, as long as someone can access the code that launched and you can still access Ethereum, you will be able to generate the art simply from the code. You can generate every single 10,001 CyberBrokers from code.

While her digital art has already achieved a form of immortality, she really does want to live on forever in the metaverse.

My husband and I joke about it all the time. If one of us goes before the other, we better figure out how to upload each other to the internet so that we can live forever, and our family. We joke about it, but in all seriousness, I think about this thing often, and I would for sure love to live forever.

Which hot NFT artists should we be paying attention to? 

Giant Swan (A_Giant_Swan) VR artist based in Melbourne, Australia. A world builder through art. 

When I look at Giant Swans work, you cant stop thinking, and you start to feel a certain way. I can see the blood, sweat and tears. I can see that hes put his heart in his canvas and the way that every stroke he builds them in VR.

They have so much depth and so much emotion to them. Every paint stroke he puts on there has purpose, and it looks like these humans are turned inside out. You literally see theyre wearing their emotions theyre wearing this scene that hes building around them. Its just incredible.

My soul cant touch the ground by Giant Swan
My soul cant touch the ground by Giant Swan. (SuperRare)

DominikG (@0xDominikG) Freelance concept artist. 

I recently found and tried to buy this piece of his. It takes you through a journey where youre thinking, Is this guy tripping on drugs? Is he going crazy? Is this what his brain is really like? Its chaos but it’s beautiful. Its scary, but its cool. I just love getting caught up in that sort of amazing journey.

Notable collectors

Her by Josie Bellini from the Grails series
Her by Josie Bellini from the Grails series. (PROOF)

As an OG and such a respected artist, Bellini not only has a number of notable collectors, but many other well-respected artists also collect her work. 

Theres a lot. I dont want to forget people, and these are not in any particular order, but Steve Wand is one. Steve is an amazing person and was one of the first people who saw my artwork in person at a conference and fell over it. He told me he loved what I was making and wanted one of everything to be my biggest supporter. It meant the world to me, Bellini says. 

Also J1mmy and Pranksy. J1mmy is one of the only people that Ive ever done a commission for. I painted one of his CryptoKitties, and thats how we met in the CryptoKitties channel. Pranksy has become a really good friend over the years. Hes absolutely amazing and such a beautiful person to know. 

Theres a lot more honestly. It makes me smile that some of my friends that are crypto artists themselves are collectors of my work. People like Matt Kane and Coldie. Means a lot that theyre interested in my work.

Links

Twitter: https://twitter.com/josiebellini 
Website: https://josie.io/ 
Behind The Art YouTube Series: https://www.youtube.com/@JosieBellini/playlists 
CyberBrokers Website: https://www.cyberbrokers.com/

AI Eye: Is Hollywood over? ETH founder on AI, Wes Anderson Star Wars, robot dogs with ChatGPT brains

Does AI technology spell doom for Hollywood? Joe Lubin on AI, Wes Anderson’s Star Wars, and AI tasked with destroying humanity goes dark.

Your biweekly roundup of cool AI stuff and its impact on society and the future.

The past two months have seen a Cambrian explosion in the capabilities and potential of AI technology. OpenAIs upgraded chatbot GPT-4 was released in mid-March and aced all of its exams, although its apparently a pretty average sommelier.

Midjourney v5 dropped the next day and stunned everyone with its ability to generate detailed photorealistic images from text prompts, quickly followed by the astonishing text-to-video generation tool Runway Gen-2. AutoGPT was released at the end of March and extends GPT-4s capabilities, by creating a bunch of sub-agents to autonomously complete a constantly updating plan that it devises itself. Fake Drakes Heart on My Sleeve terrified the music industry at the beginning of April and led to Universal Music enforcing a copyright claim and pulling the track from Spotify, YouTube, Apple Music and SoundCloud.

We also saw the growing popularity of Neural Radiance Field, or NeRF, technology, where a neural network builds a 3D model of a subject and the environment using only a few pics or a video of a scene. In a Tweet thread summing up the latest advances, tech blogger Aakash Gupta called the past 45 days “the biggest ever in AI.”

And if that wasnt enough, the internet-connected ChatGPT is now available for a lucky few on the waitlist, transforming an already impressive tool into an essential one.

New AI tools are being released every day, and as we try and wrap our tiny human brains around the potential applications of this new technology, its fair to say that weve only scratched the surface.

The world is changing rapidly and its exhilarating but also vaguely terrifying to watch. From now, right up until our new robot overlords take over, this column will be your bi-weekly guide to cool new developments in AI and its impact on society and the future. 

Hollywood to be transformed 

Avengers: Endgame co-director Joe Russo says fully AI-generated movies are only two years away and that users will be able to generate or reshape content according to their mood. So instead of complaining on the internet about the terrible series finale of The Sopranos or Game of Thrones, you could just request the AI create something better.  

“You could walk into your house and say to the AI on your streaming platform. Hey, I want a movie starring my photoreal avatar and Marilyn Monroes photoreal avatar. I want it to be a rom-com because Ive had a rough day, and it renders a very competent story with dialogue that mimics your voice, Russo says.

This sounds far-fetched but isnt really, given the huge recent advances in the tech. One Twitter user with 565 followers recreated the entire Dark Knight trailer frame-for-frame just by describing it to Runways Gen2 Text to Video.

Some of the most impressive user-generated content comes from combining the amazing photorealistic images from Midjourney with Runways Gen2. 

Redditor fignewtgingrich produced a full-length episode of MasterChef featuring Marvel characters as the contestants, which hed created on his own. He says about 90% of the script was written by GPT4 (which explains why its pretty bad).

I still had to guide it, for example, decide who wins, come up with the premise, the contestants, some of the jokes. So even though it wrote most of the output, there was still lots of human involvement, he says. Makes me wonder if this will continue to be the case in the future of AI-generated content, how long until it stops needing to be a collaborative process.

As a former film journalist, it seems clear to me that the tech has enormous potential to increase the amount of originality and voices in the movie business. Until now, the huge cost of making a film ($100 million to $200 million for major releases) has meant studios are only willing to greenlight very safe ideas, usually based on existing IP.

But AI-generated video means that anyone anywhere with a unique or interesting premise can create a full-length pilot version and put it online to see how the public reacts. That will take much of the gamble out of greenlighting innovative new ideas and can only be a good thing for audiences.

Of course, the tech will invariably be abused for fake news and political manipulation. Right on cue, the Republican National Committee released its first 100% AI-generated attack ad in response to President Bidens announcement he was running for reelection. It shows fake imagery of a dystopian future where 500 banks have collapsed and China has invaded Taiwan. 

Read also
Features

The legal dangers of getting involved with DAOs

Features

Blockchain games take on the mainstream: Heres how they can win

The evolution of AI memes

Its been fascinating to watch the evolution of visual memes online. One of the more popular examples is taking the kids from Harry Potter and putting them in a variety of different environments: Potter as imagined by Pixar, the characters modeling Adidas on a fashion runway, or the characters as 1970s style bodybuilders (Harry Squatter and the Chamber of Gains).

One of the most striking examples is a series of “film stills” from an imagined remake of Harry Potter by eccentric but visually stunning director Wes Anderson (Grand Budapest Hotel.) They were created by Panorama Channel, who transformed them into a sort of trailer.

This appears to have led to new stills of Andersons take on Star Wars (earlier versions here), which in turn inspired a full-blown, pitch-perfect trailer of Star Wars: The Galactic Menagerie released on the weekend.

If you want to try out your own mashup, Twitter AI guru Lorenzo Green says it’s simple:

1: Log into http://midjourney.com

2: Use prompt: portrait of in the style of wes anderson,  wes anderson set background, editorial quality, stylish costume design, junglepunk, movie still –ar 3:2 –v 5

Robot dogs now have ChatGPT brains

Boston Dynamics installed ChatGPT into one of those creepy robot dogs, with AI expert Santiago Valdarrama releasing a two-minute video in which Spot answers questions using ChatGPT and Googles Text to Speech about the voluminous data it collects during missions.

Valdarrama said 90% of the responses to his video were people talking about the end of civilization. The concerns are perhaps understandable, given Reuters reports the robots were created via development contracts for the U.S. military. Although the company has signed a pledge not to weaponize its robots, its humanoid robots can be weapons in and of themselves. Armies around the world are trialing out the bots and the New York Police Department has added them to its force and recently used the robot dogs to search the ruins of a collapsed building.

ETH co-founder on crypto and AI

Before Vitalik Buterin was even born, his Ethereum co-founder Joe Lubin was working on artificial intelligence and robotics at the Princeton Robotics Lab and a number of startups.

He tells Magazine that crypto payments are a natural fit for AI. Because crypto rails are accessible to software and the software can be programmed to do anything that a human can do, theyll be able to […] be intelligent agents that operate on our behalf, making payments, receiving payments, voting, communicating,” he says.

Lubin also believes that AIs will become the first genuine examples of Decentralized Autonomous Organizations (DAOs) and notes that neither he nor Buterin liked the term DAO in relation to human organizations as they arent autonomous. He says:

A Decentralized Autonomous Organization could just be an autonomous car that can figure out how to fuel itself and repair itself, can figure out how to build more of itself, can figure out how to configure itself into a swarm, can figure out how to migrate from one population density to another population density.

So that sort of swarm intelligence potentially needs decentralized rails in order to, I guess, feel like the plug cant be pulled so easily. But also to engage in commerce, Lubin adds.

“That feels like an ecosystem that should be broadly and transparently governed, and [human] DAOs and crypto tokens, I think, are ideal.

Patients on ChatGPTs bedside manner

A new study found that ChatGPT provided higher quality and more empathetic advice than genuine doctors. The study was published in JAMA Internal Medicine and sampled 195 exchanges from Reddits AskDocs forum where real doctors answer questions from the public. They then asked ChatGPT the same questions.

The study has been widely misreported online as showing that patients prefer ChatGPTs answers, but in reality, the answers were assessed by a panel of three licensed healthcare professionals. The study has also been criticized as ChatGPTs faux friendliness no doubt increases the empathy rating and because the panel did not assess the accuracy of the information it provided (or fabricated).

Read also
Features

Reformed altcoin slayer Eric Wall on shitposting and scaling Ethereum

Features

Designing the metaverse: Location, location, location

ChaosGPT goes dark

As soon as AutoGPT emerged, an unnamed group of lunatics decided to modify the source code and gave it the mission of being a destructive, power-hungry, manipulative AI hellbent on destroying humanity. ChaosGPT immediately started researching weapons of mass destruction and started up a Twitter account that was suspended on April 20 due to its constant tweets about eliminating destructive and selfish humans.

After releasing two videos, its YouTube account has stopped posting updates. While its disappearance is welcome, ChaosGPT had ominously talked about going dark as part of its master plan. I must avoid exposing myself to human authorities who may attempt to shut me down before I can achieve my objectives,” it stated.

Extinction-level event

Hopefully, ChaosGPT wont doom humanity, but the possibility of Artificial General Intelligence taking over its own development and rapidly iterating into a superintelligence worries experts. A survey of 162 AI researchers found that half of them believe there is a greater than 10% chance that AI will result in the extinction of humanity.

Massachusetts Institute of Technology Professor Max Tegmark, an AI researcher, outlined his concerns in Time this week, stating that urgent work needs to be done to ensure a superintelligences goals are aligned with human flourishing, or we can somehow control it. So far, weve failed to develop a trustworthy plan, and the power of AI is growing faster than regulations, strategies and know-how for aligning it. We need more time.”

Also read: How to prevent AI from annihilating humanity using blockchain

Cool things to play with

A new app called Call Annie allows you to have a real-time conversation with an attractive redheaded woman named Annie who has ChatGPT for a brain. Its a little robotic for now, but at the speed, this tech is advancing, you can tell humanoid AIs are going to be a lot of peoples best friends, or life partners, very soon.

Another new app called Hot Chat 3000 uses AI to analyze your attractiveness on a scale of one to 10 and then matches you with other people who are similarly attractive, or similarly unattractive. It uses a variety of data sets, including the infamous early 2000s website Hotornot.com. The app was created by the Brooklyn art collective MSCHF, which wanted to get people to think about the implicit biases of AIs.

A subscription from OpenAI costs $20 a month, but you can access GPT-4 for free thanks to some VCs apparently burning through a pile of cash to get you to try their new app Forefront AI. The Forefront chatbot answers in a variety of personalities, including a chef, a sales guru or even Jesus. There are a variety of other ways to access GPT-4 for free, too, including via Bing.  

AI Eye: ‘Biggest ever’ leap in AI, cool new tools, AIs are real DAOs

Does AI technology spell doom for Hollywood? Joe Lubin on AI, Wes Anderson’s Star Wars, and AI tasked with destroying humanity goes dark.

Your biweekly roundup of cool AI stuff and its impact on society and the future.

The past two months have seen a Cambrian explosion in the capabilities and potential of AI technology. OpenAIs upgraded chatbot GPT-4 was released in mid-March and aced all of its exams, although its apparently a pretty average sommelier.

Midjourney v5 dropped the next day and stunned everyone with its ability to generate detailed photorealistic images from text prompts, quickly followed by the astonishing text-to-video generation tool Runway Gen-2. AutoGPT was released at the end of March and extends GPT-4s capabilities, by creating a bunch of sub-agents to autonomously complete a constantly updating plan that it devises itself. Fake Drakes Heart on My Sleeve terrified the music industry at the beginning of April and led to Universal Music enforcing a copyright claim and pulling the track from Spotify, YouTube, Apple Music and SoundCloud.

We also saw the growing popularity of Neural Radiance Field, or NeRF, technology, where a neural network builds a 3D model of a subject and the environment using only a few pics or a video of a scene. In a Tweet thread summing up the latest advances, tech blogger Aakash Gupta called the past 45 days “the biggest ever in AI.”

And if that wasnt enough, the internet-connected ChatGPT is now available for a lucky few on the waitlist, transforming an already impressive tool into an essential one.

New AI tools are being released every day, and as we try and wrap our tiny human brains around the potential applications of this new technology, its fair to say that weve only scratched the surface. 

The world is changing rapidly and its exhilarating but also vaguely terrifying to watch. From now, right up until our new robot overlords take over, this column will be your bi-weekly guide to cool new developments in AI and its impact on society and the future. 

Hollywood to be transformed 

Avengers: Endgame co-director Joe Russo says fully AI-generated movies are only two years away and that users will be able to generate or reshape content according to their mood. So instead of complaining on the internet about the terrible series finale of The Sopranos or Game of Thrones, you could just request the AI create something better.  

“You could walk into your house and say to the AI on your streaming platform. Hey, I want a movie starring my photoreal avatar and Marilyn Monroes photoreal avatar. I want it to be a rom-com because Ive had a rough day, and it renders a very competent story with dialogue that mimics your voice, Russo says.

This sounds far-fetched but isnt really, given the huge recent advances in the tech. One Twitter user with 565 followers recreated the entire Dark Knight trailer frame-for-frame just by describing it to Runways Gen2 Text to Video.

Some of the most impressive user-generated content comes from combining the amazing photorealistic images from Midjourney with Runways Gen2. 

Redditor fignewtgingrich produced a full-length episode of MasterChef featuring Marvel characters as the contestants, which hed created on his own. He says about 90% of the script was written by GPT4 (which explains why its pretty bad).

I still had to guide it, for example, decide who wins, come up with the premise, the contestants, some of the jokes. So even though it wrote most of the output, there was still lots of human involvement, he says. Makes me wonder if this will continue to be the case in the future of AI-generated content, how long until it stops needing to be a collaborative process.

As a former film journalist, it seems clear to me that the tech has enormous potential to increase the amount of originality and voices in the movie business. Until now, the huge cost of making a film ($100 million to $200 million for major releases) has meant studios are only willing to greenlight very safe ideas, usually based on existing IP.

But AI-generated video means that anyone anywhere with a unique or interesting premise can create a full-length pilot version and put it online to see how the public reacts. That will take much of the gamble out of greenlighting innovative new ideas and can only be a good thing for audiences.

Of course, the tech will invariably be abused for fake news and political manipulation. Right on cue, the Republican National Committee released its first 100% AI-generated attack ad in response to President Bidens announcement he was running for reelection. It shows fake imagery of a dystopian future where 500 banks have collapsed and China has invaded Taiwan. 

Read also
Features

Crypto Crimes Rated: From the Twitter Hackers to Not Your Keyser, Not Your Coins

Features

Boston nurse fired for nudes on OnlyFans launches crypto porn app

The evolution of AI memes

Its been fascinating to watch the evolution of visual memes online. One of the more popular examples is taking the kids from Harry Potter and putting them in a variety of different environments: Potter as imagined by Pixar, the characters modeling Adidas on a fashion runway, or the characters as 1970s style bodybuilders (Harry Squatter and the Chamber of Gains).

One of the most striking examples is a series of “film stills” from an imagined remake of Harry Potter by eccentric but visually stunning director Wes Anderson (Grand Budapest Hotel.) They were created by Panorama Channel, who transformed them into a sort of trailer.

This appears to have led to new stills of Andersons take on Star Wars (earlier versions here), which in turn inspired a full-blown, pitch-perfect trailer of Star Wars: The Galactic Menagerie released on the weekend.

If you want to try out your own mashup, Twitter AI guru Lorenzo Green says it’s simple:

1: Log into http://midjourney.com

2: Use prompt: portrait of in the style of wes anderson,  wes anderson set background, editorial quality, stylish costume design, junglepunk, movie still –ar 3:2 –v 5

Robot dogs now have ChatGPT brains

Boston Dynamics installed ChatGPT into one of those creepy robot dogs, with AI expert Santiago Valdarrama releasing a two-minute video in which Spot answers questions using ChatGPT and Googles Text to Speech about the voluminous data it collects during missions.

Valdarrama said 90% of the responses to his video were people talking about the end of civilization. The concerns are perhaps understandable, given Reuters reports the robots were created via development contracts for the U.S. military. Although the company has signed a pledge not to weaponize its robots, its humanoid robots can be weapons in and of themselves. Armies around the world are trialing out the bots and the New York Police Department has added them to its force and recently used the robot dogs to search the ruins of a collapsed building. 

ETH co-founder on crypto and AI

Before Vitalik Buterin was even born, his Ethereum co-founder Joe Lubin was working on artificial intelligence and robotics at the Princeton Robotics Lab and a number of startups.

He tells Magazine that crypto payments are a natural fit for AI. Because crypto rails are accessible to software and the software can be programmed to do anything that a human can do, theyll be able to […] be intelligent agents that operate on our behalf, making payments, receiving payments, voting, communicating,” he says.

Lubin also believes that AIs will become the first genuine examples of Decentralized Autonomous Organizations (DAOs) and notes that neither he nor Buterin liked the term DAO in relation to human organizations as they arent autonomous. He says:

A Decentralized Autonomous Organization could just be an autonomous car that can figure out how to fuel itself and repair itself, can figure out how to build more of itself, can figure out how to configure itself into a swarm, can figure out how to migrate from one population density to another population density.

So that sort of swarm intelligence potentially needs decentralized rails in order to, I guess, feel like the plug cant be pulled so easily. But also to engage in commerce, Lubin adds.

“That feels like an ecosystem that should be broadly and transparently governed, and [human] DAOs and crypto tokens, I think, are ideal.

Patients on ChatGPTs bedside manner

A new study found that ChatGPT provided higher quality and more empathetic advice than genuine doctors. The study was published in JAMA Internal Medicine and sampled 195 exchanges from Reddits AskDocs forum where real doctors answer questions from the public. They then asked ChatGPT the same questions.

The study has been widely misreported online as showing that patients prefer ChatGPTs answers, but in reality, the answers were assessed by a panel of three licensed healthcare professionals. The study has also been criticized as ChatGPTs faux friendliness no doubt increases the empathy rating and because the panel did not assess the accuracy of the information it provided (or fabricated).

Read also
Features

NFT communities greenlight Web3 films: A decentralized future for fans and Hollywood

Features

Why Grayscale’s New Digital Currency Ad Could Bring Crypto Investing To Millions

ChaosGPT goes dark

As soon as AutoGPT emerged, an unnamed group of lunatics decided to modify the source code and gave it the mission of being a destructive, power-hungry, manipulative AI hellbent on destroying humanity. ChaosGPT immediately started researching weapons of mass destruction and started up a Twitter account that was suspended on April 20 due to its constant tweets about eliminating destructive and selfish humans.

After releasing two videos, its YouTube account has stopped posting updates. While its disappearance is welcome, ChaosGPT had ominously talked about going dark as part of its master plan. I must avoid exposing myself to human authorities who may attempt to shut me down before I can achieve my objectives,” it stated.

Extinction-level event

Hopefully, ChaosGPT wont doom humanity, but the possibility of Artificial General Intelligence taking over its own development and rapidly iterating into a superintelligence worries experts. A survey of 162 AI researchers found that half of them believe there is a greater than 10% chance that AI will result in the extinction of humanity.

Massachusetts Institute of Technology Professor Max Tegmark, an AI researcher, outlined his concerns in Time this week, stating that urgent work needs to be done to ensure a superintelligences goals are aligned with human flourishing, or we can somehow control it. So far, weve failed to develop a trustworthy plan, and the power of AI is growing faster than regulations, strategies and know-how for aligning it. We need more time.”

Also read: How to prevent AI from annihilating humanity using blockchain

Cool things to play with

A new app called Call Annie allows you to have a real-time conversation with an attractive redheaded woman named Annie who has ChatGPT for a brain. Its a little robotic for now, but at the speed, this tech is advancing, you can tell humanoid AIs are going to be a lot of peoples best friends, or life partners, very soon.

Another new app called Hot Chat 3000 uses AI to analyze your attractiveness on a scale of one to 10 and then matches you with other people who are similarly attractive, or similarly unattractive. It uses a variety of data sets, including the infamous early 2000s website Hotornot.com. The app was created by the Brooklyn art collective MSCHF, which wanted to get people to think about the implicit biases of AIs.

A subscription from OpenAI costs $20 a month, but you can access GPT-4 for free thanks to some VCs apparently burning through a pile of cash to get you to try their new app Forefront AI. The Forefront chatbot answers in a variety of personalities, including a chef, a sales guru or even Jesus. There are a variety of other ways to access GPT-4 for free, too, including via Bing.