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NFT: Paying for air or an asset?

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NFT is the most discussed digital trend right now. While some users have joined the chase for the most unusual crypto-art, others do not understand the real value of tokens. 

NFTs are incorrectly classified as digital currencies because they are digital certificates of ownership; that is, they are intellectual property objects, as they are the result of human intellectual activity.

Let’s deal with the concept of NFT

Often “token” refers to any cryptocurrency or crypto-asset, which, in fact, only creates more confusion. The closest to the truth defines a token as a certain unit of account, which itself is not a cryptocurrency. In fact, it is a special registry entry that certifies that a certain person owns the right to a certain asset.

The term non-interchangeable can also be replaced with the word “unique” – its specificity is that each token is specific and cannot be exchanged or replaced with another token of the same kind.

It turns out that NFT is a unique record in the registry, confirming a person’s right to a particular asset. As a rule, NFT is used to secure the right to unique objects from the virtual world, which are most often intellectual property objects.

NFT copyright. Is it real?

An NFT is only a certain record that confirms the right to a unique object – the token itself cannot be copyrighted.

This is because the non-interchangeable token itself, although it has its expression in objective form, was not created by creative labor, and this is the key criterion for recognizing a particular object as a copyright object. Also, the attribution of the NFT itself to intellectual property objects simply does not fit into the logic of its essence: the NFT – something that certifies the right to the object of intellectual property.

BAYC monkeys – a club for a select few

NFTs are now actively used to sell digital objects. For example, one of the most popular has become a collection of NFT BoredApeYacht Club (BAYC), which presents a collection of pictures of “cartoon” monkeys, which are procedurally generated by an algorithm. Why did the creators of these pictures decide to use NFT to distribute their works?

NFT contains information about the rights to the image to which it is “attached”. In the case of BAYC, this is exactly the situation: ownership of NFTs gives their owners access to a closed online club, exclusive in-person events, and also certifies their exclusive right to the said image and the character depicted in it.

In this case, non-exchangeable tokens are very much like uncertified securities, which also certify binding and other rights and also have no tangible medium.

Where are the borders?

For many people, it is not obvious that an NFT associated with a work or an object from the real world may not give the owner of a token any exclusive rights to that object. Unless the terms of purchase specifically state that an NFT certifying an exclusive right to an intellectual property object is transferred to the purchaser, it must be assumed that the NFT merely certifies ownership of a digital copy of a particular object.

By acquiring NFT, its new owner can not dispose of the rights for the work itself, to prohibit third parties from using or independently process the work without the consent of the right holder. He can only determine the fate of the copy he has inherited, without becoming the copyright holder for the work itself. The rights holder himself/herself is not restricted to create a few more digital copies of his/her work, issue new NFTs to certify ownership of them, and sell them to other purchasers.

It will work the same way in the other direction – if a person is not the owner of the exclusive right to a work, he is not entitled to issue an NFT certifying the right to such a work either.

Conclusions

It may seem that an NFT is just a risky investment which cannot perform any useful function. That’s not entirely true: in addition to selling images of monkeys and other digital art, NFTs can be used for more useful purposes

Recently the Japanese startup ABCRECORDS created a marketplace where anyone can buy NFTs entitling them to use a piece of music in their social networks and, subject to a special questionnaire and an agreement with the rights holder, the owner of the token can also obtain the right to use the music for commercial purposes.

If the NFT is resold, these rights will pass to another person, and the author of the work whose rights are certified by the NFT will receive a certain percentage of the resale amount.

Cryptocurrency

Zircuit Welcomes Ocelex: The Newest MetaDEX Driving DeFi Growth on Zircuit

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[PRESS RELEASE – Zurich, Switzerland, December 6th, 2024]

Ocelex is positioned to launch as a MetaDEX and liquidity layer on Zircuit, a zkEVM-based Layer 2 ecosystem designed for scalability and security. With its focus on capital-efficient innovation, community-driven participation, and 100% revenue sharing among token holders, Ocelex aims to create a transparent and inclusive DeFi environment.

Zircuit’s infrastructure, which includes AI-driven sequencer security, provides a strong foundation for decentralized applications. Recent developments, such as the token generation event (TGE) of the $ZRC token, have increased attention on the ecosystem. Ocelex’s launch will leverage this momentum to establish itself as Zircuit’s primary decentralized exchange, prioritizing liquidity, accessibility, and growth within the DeFi sector.

Ocelex as the First Lynex Expansion

As the first franchise expansion of Lynex—the leading liquidity protocol on Linea—Ocelex builds on a proven foundation. Lynex has achieved over $3.5 billion in trading volume and distributed $7.5 million in revenue to token holders, positioning it as one of the top-performing ve(3,3) DEXs. Ocelex continues this legacy by introducing Automated Liquidity Management (ALM) aggregation, a feature designed to simplify liquidity management through automated strategies. This approach reduces risks like impermanent loss while ensuring consistent yield for liquidity providers (LPs).

Strategic Partnerships and Pre-Launch Momentum

Even before its official launch, Ocelex has established key partnerships and secured significant Total Value Locked (TVL). These partnerships include:

  • EtherFi, Kelp, and Renzo for LRTs (liquidity restaking tokens).
  • Lido and StakeStone for LSTs (liquid staking tokens).
  • StakeStone and Elara, two leading money market protocols to ensure seamless, integrated liquidity flows for users.

Ocelex’s strong pre-launch performance underscores its potential to play a key role in Zircuit’s ecosystem growth. With a current TVL of $4.6M and total trading volume of $13.3M, Ocelex has already secured a solid foothold in the DEX category.

A Community-First Approach

Ocelex follows Lynex’s community-centric strategy with an airdrop that prioritizes long-term alignment. 45% of Ocelex’s initial supply will be airdropped to Lynex veLYNX holders who have locked tokens for one year or more. This approach rewards loyal participants while fostering ecosystem stability. Locking veLYNX has historically provided some of the most consistent yields among ve(3,3) protocols, a trend Ocelex aims to replicate.

The Upcoming Public Sale

The Ocelex public sale begins on December 9th at 10:00 UTC and will run for 60 hours in a Dutch auction format. The auction ensures fair market pricing, starting at $0.30 and decreasing to $0.06.

Key Sale Details:

  • Tokens for Sale: 2,000,000 $OCX (2% of initial supply).
  • Minimum Price: $0.06 | Starting Price: $0.30.

Following the sale, the Token Generation Event (TGE) will commence, marking the start of liquidity mining and distributing tokens to pre-miners and airdrop recipients.

For a comprehensive overview of the public sale, refer to this article or watch the accompanying short video.

Ocelex Public Sale Projections

Ocelex’s Dutch auction public sale lets the market decide its valuation and launch price, starting at $0.30 and decreasing linearly to $0.06.

Community airdrop recipients, who will receive 50% of the initial supply as governance tokens, also stand to benefit from higher sale prices. With interest in Ocelex as the next big ve(3,3) DEX on Zircuit, the auction is expected to be highly competitive, following in the footsteps of Lynex, Aerodrome, and Thena.

Ocelex’s Growth Potential

Ocelex has the potential to secure substantial TVL on Zircuit, a network with over $2.5B in total value locked (TVL). This potential is modeled on the success of other ve(3,3) protocols:

  • Aerodrome: Secured 41.56% of Base’s $3.85B TVL ($1.6B), with an FDV of $2.5B. Ocelex could achieve $1.039B TVL with a similar share.
  • Lynex: Commands 4.7% of Linea’s $494M TVL ($23.2M) with an FDV of $29M. Ocelex could secure $117.5M TVL with comparable performance.
  • Thena: Captures 1.47% of BNB Chain’s $5.8B TVL ($85M) with an FDV of $565M. Ocelex could achieve $36.75M TVL with this share.

Ocelex Key Metrics:

  • Dominant Case: $1.039B TVL (41.56%).
  • Moderate Case: $117.5M TVL (4.7%).
  • Conservative Case: $36.75M TVL (1.47%).

With an FDV range of $6M to $30M, Ocelex presents an undervalued opportunity for early participants, particularly when compared to Aerodrome’s $2.5B FDV or Thena’s $565M.

The Future of DeFi with Ocelex and Zircuit

Ocelex combines Lynex’s successful model with Zircuit’s technical infrastructure, aiming to serve as a cornerstone for DeFi activity. With strong pre-launch momentum, strategic partnerships, and a focus on community alignment, Ocelex is positioned to deliver value and scalability for users and the broader DeFi ecosystem.

About Ocelex

Ocelex is the first expansion of the Lynex brand, launching as a franchise on Zircuit, an emerging Layer 2. Ocelex democratizes sophisticated liquidity strategies, seamlessly connecting everyday traders with expert-level capabilities. It features a competitive ecosystem of Automated Liquidity Managers (ALMs) and strategists, all striving to optimize returns, minimize risks like impermanent loss, and boost overall efficiency for every user.

Users can learn more about Ocelex through the following links

Website: www.ocelex.fi/

DApp: app.ocelex.fi/

X: x.com/OcelexFi

Discord: discord.com/invite/rTkZNbNggh

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Lingo Secures Strategic Partnership with Stewards Investment Capital for RWA Revolution

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[PRESS RELEASE – Trou Aux Biches, Mauritius, December 5th, 2024]

Lingo, the token revolutionizing RWA with its community-first model, has announced a strategic partnership with Stewards Investment Capital. This collaboration can solidify Lingo’s position as an anticipated RWA token launch in 2024, combining viral product, gamified users experience with 25 years of institutional and investment expertise.

Building a Consumer-First RWA Ecosystem

Lingo is the first RWA token tailored for a mass audience, utilizing real-world assets to fuel its unique rewards ecosystem. By building a diversified RWA portfolio, Lingo delivers tangible, lasting value to its growing community of over 2 million members and 8 million app users.

Institutional backing has been a cornerstone of Lingo’s strategy. Its investor network collectively manages more than $3 billion in assets, and the advisory board includes former executives from BlackRock, Google, and Booking.

Investment Partnership

Stewards Investment Capital, with over 25 years of experience in RWA management, has deployed more than $1 billion across the United States and South Africa. This proven track record across diverse asset classes makes Stewards a partner to propel Lingo’s ecosystem forward.

Together, the two organizations will deploy capital into carefully vetted RWA products, combining Stewards’ institutional expertise with Lingo’s innovative model. The partnership ensures the sustainability of the rewards ecosystem by leveraging Stewards’ institutional-grade expertise.

Lingo’s Unique Approach to Rewards

At the core of Lingo ecosystem is its groundbreaking model: transaction fees are reinvested into real-world assets, potentially generating yields that fuel rewards for the community. This novel approach has positioned Lingo as an upcoming pioneer in consumer-first RWA space.

By combining forces, Lingo and Stewards Investment are set to redefine how communities can benefit from real-world assets in the digital age.

For more information, users can visit: Lingo website – http://mylingo.io

Stewards Investment Website – https://stewardsinvestment.com

About Lingo

Lingo is building the gamified, RWA-powered rewards ecosystem for the next billion in Web3. The main goal is to reward the community with real-world benefits consistently and exponentially, powered by real-world assets that generate true value for the ecosystem.

The premise of Lingo is very simple: To create an ever-growing rewards ecosystem that generates real-world community rewards, regardless of token and market volatility.

Stewards Investment Capital is a boutique investment advisory firm with over 25 years of experience as part of the Stewards Group of Financial Companies. Strategically located in Mauritius, South Africa, and the USA, the firm specializes in crafting niche investment solutions for high-net-worth individuals and institutional investors, driven by a high-alpha approach.

Stewards’ commitment to its investors is rooted in its mission to grow and nurture their wealth, build lasting fortunes, and create enduring legacies to achieve real freedom. Recognized by Global Private Banker, Africa Global Funds, and Global Finance, Stewards continues to foster close relationships with its investors, delivering exceptional service through innovative offerings and positioning itself as a preferred global investment partner.

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Fed Chair Likens Bitcoin to Gold, Says It’s Not a Rival to the Dollar

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Federal Reserve Chairman Jerome Powell has dismissed the idea that Bitcoin could replace the U.S. dollar, likening the cryptocurrency to gold as a speculative asset rather than a store of value.

Powell shared these views during his appearance at The New York Times DealBook Summit in Manhattan.

Powell’s Argument

When asked whether Bitcoin’s popularity reflects a lack of faith in the U.S. dollar or the Federal Reserve, Powell said, “I don’t think that’s how people think about it.” He went on to describe Bitcoin as a highly volatile asset used for speculation rather than as a stable store of value.

“It’s just like gold, only it’s virtual,” Powell said. “It’s very volatile, it’s not a competitor for the dollar, it’s really a competitor for gold.”

These remarks come at a time of heightened speculation about Bitcoin’s role in global finance. It has seen a significant price rise in recent weeks, driving its market capitalization to over $2 trillion.

According to CompaniesMarketCap.com, the cryptocurrency is now the seventh-largest asset globally. Bitcoin ranks behind gold, which has an estimated market value of $18 trillion, and five major American companies, including Nvidia, Alphabet, and Meta.

Powell’s conservative stance on Bitcoin and other cryptocurrencies is consistent with his previous statements. In 2021, he similarly criticized Bitcoin for its volatility, arguing that it failed to serve as a reliable store of value or medium of exchange.

At the time, he referred to all cryptocurrencies as speculative investments that would not replace the dollar but could rival gold as an alternative asset.

Following the 71-year-old’s reappointment as Federal Reserve Chair in 2021, Galaxy Digital CEO Mike Novogratz expressed concerns, stating that his leadership would likely hinder market growth.

“People are getting pretty bearish on crypto,” Novogratz said at the time.

Concerns Under Powell’s Leadership

Under Biden’s administration, the Federal Reserve has been accused of playing a key role in “Operation Chokepoint 2.0,” an alleged effort to stop the growth of the U.S. cryptocurrency industry by cutting crypto firms’ access to traditional banking services.

In August 2024, these allegations were reignited after the Fed directed Customers Bank, a crypto-friendly institution, to tighten its risk management and compliance measures. This prompted Gemini co-founder Tyler Winklevoss to declare that Operation Chokepoint 2.0 “is alive and well.”

Crypto’s banking issues began years ago, intensifying after the collapse of FTX, which triggered stricter regulations against blockchain companies.

This included mandates from the OCC, FDIC, and Federal Reserve that discouraged banks from serving crypto firms. As a result of this, many crypto-friendly banks like Silvergate Bank, Signature Bank, and Silicon Valley Bank have since been forced to close.

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