Connect with us

NFT

Here’s how Malaysian artist Mumu the stan enters NFTs with Linkin Park Mike Shinoda’s support

Published

on

Visual artist and poet Mumu the stan AKA Munira Hamzah (Moon) is a homegrown artist who dabbled into the world of NFTs through her quirky pixel art.
What once started as a joke eventually evolved into a full-time job for Malaysian NFT artist Mumu the stan. Apart from pixel art, she focuses on visual illustrations through her other pseudonym, Moon HMZ.
The story behind the pseudonym Mumu the stan is a name she gave when creating an anonymous Twitter account to join “stan Twitter” — a section where fans interact and post about their fandom. “Although I’ve always been an artist, I didn’t start posting art there first because I feared it would break my anonymity. I eventually posted my fan art on that account, and things blew up from there,” Moon explains.
“When it comes to my work, I don’t maintain a style. My philosophy is, go ahead and experiment. If you made it, it’s your style,” she explains. Art has always been a part of her life. “My parents said I would spend a lot of time alone just drawing. I used to write my own stories, staple them together and create my own comic books.”
How she got into NFTs is a memorable tale worth telling. Due to the pandemic and lockdown, her favourite artist, Linkin Park’s singer and rapper Mike Shinoda, began streaming on Twitch (a video-streaming platform), a community he created to connect with his fans by discussing topics on art and music.
He would create visual art and instrumental tracks from scratch and post them on Instagram or Twitch for fans to collaborate and showcase their skills later. Moon exhibited her art by uploading it on Instagram, where she received recognition from Shinoda in one of his live Twitch sessions.
The motivation and support from her idol, Mike Shinoda, is why Moon dabbled into NFTs — Shinoda is Moon’s very first NFT art collector too. For those who aren’t familiar with NFT (non-fungible token) and stated by Forbes, an NFT is a digital asset representing real-world objects like art, music, in-game items, and videos bought and sold online with cryptocurrency.
As an avid fan of Linkin Park since her teenage years, Mike Shinoda’s 2018 album release, Post-Traumatic, helped her through hard times when diagnosed with depression and during therapy. “Pixel art was something I did for fun, and thanks to him, I’ve been able to make a living out of it. He’s been so supportive and amazing. He’s fostered a great community, and we’ve been educating each other and the community about NFTs. We’re all learning together. It’s exciting.”
Moon will also be speaking with Mike Shinoda and other panellists at GeckoCon, where they will discuss NFTs and their perspective on blockchain tech as artists from November 17 to November 19 2021.
All images credit: Mumu the stan
My pixel art is very different from the stuff I make as MOON HMZ. I love exploring a bunch of styles, as I can get bored of doing the same thing over and over quite easily. In terms of pixel art, I am inspired by how simple it can look, although it isn’t quite as easy as it seems. Reducing something to a few pixels yet still being recognizable is a fun challenge. It’s sort of like a puzzle. I absolutely love the 8-bit look, and I love Nyan Cat as well. Something so cute and seemingly simple can bring so much joy to people.

For me, inspiration can come from anywhere, from the deepest, darkest of emotions to the most random memes. It’s what makes us human. I don’t have any place in particular that I go to for inspiration.  However, I do listen to a lot of music when creating, and I always listen to music that fits the mood of whatever I’m creating.

It depends on the piece. For something like my pixel meditation series, I start never knowing how it will end up looking like. I start with one pixel in the middle of a blank canvas and add one pixel at a time, frame by frame, in a meditative process. This process can take from 1 hour to up to 2 days, depending on how complex it is. I usually already have an idea for the cute or fun pixel art animations and execute it, and it doesn’t take too much time.

It really started as an inside joke, a niche meme in Mike Shinoda’s community. In 2020, Mike started streaming on Twitch and what he usually does is make a beat from scratch. Sometimes he makes beats from fan requests. One time a fan requested a Panic at The Disco theme, and after trying to make it work throughout the stream, he says that he failed. He abandoned that track and started messing around with a goofy beat and tacky ad-libs in the sample library. Within minutes, the song ‘Booty Down’ came to be. It quickly became a meme in the community.

This was when I made my first pixel art as a tribute to it. This song made it into his first live-on-Twitch music compilation, Dropped Frames. During the album drop party live stream, he and his wife were dressed in animal onesies. When Booty Down came on, they started twerking live on camera. It was such a ridiculous and cute moment that I had to make a pixel animation of it. The rest is history.

I got into NFTs in February 2021, after Mike Shinoda offered to buy my first NFT if I minted (publishing your token on the blockchain to make it purchasable) one. I dove headfirst into a completely new world. After a couple of weeks, I started to hear of the negative effects on the environment. I felt terrible, thinking, “Oh no, what did I do? What did I get myself into?”
From there, I did a lot of research and soul-searching, and I really went deep into understanding the tech, the different blockchains, etc. I came to learn about Clean NFTs and have been an advocate ever since. NFTs aren’t inherently bad, and they’re not all built the same. I’d advise anyone concerned to read up on the materials at cleannfts.org to learn the differences and how you can make more conscious choices.

Since then, it’s been amazing. NFTs are a lot of hard work, but it’s worth it because you get to make what you want. I eventually quit my job in May and have been doing this full time ever since. I’ve been able to contribute to causes meaningfully I believe in from income I’ve made off of my art, and that feels incredible. I’ve met so many amazingly talented people from all over the world because of this, and it’s expanded my horizons on art and what’s possible.

We’re still very early. Things are still clunky. Who knows where this train could be heading in the future. NFTs are a way for creators to get compensated without relying on third parties. With more power in the hands of creators, I truly hope the days of creatives being undervalued and stepped on will come to an end. 

I see myself continuing to create whatever I want with complete creative freedom.

source

NFT

Tyler Hobbs' Fidenza NFT Project Gets $1M Pump Over 48 hours – CoinDesk

Published

on

source

Continue Reading

NFT

DOJ Asks Congress for Tools to Limit NFT Money-Laundering Risk – PYMNTS.com

Published

on


Down at the very bottom of the crypto crime report the Justice Department issued last week was a request that could make it a lot harder to buy and sell NFTs.
Citing examples of criminals using the sale of the popular nonfungible tokens that hold art, video, music and collectibles to launder funds, the Justice Department asked Congress to define some of all NFTs as “value that substitutes for currency” under the Bank Secrecy Act (BSA).
Doing so, it said in “The Role of Law Enforcement in Detecting, Investigating, and Prosecuting Criminal Activity Related to Digital Assets,” would “make clear that its key [anti-money-laundering (AML) and countering the financing of terror (CFT)] provisions — including the obligations to have customer identification programs and report suspicious transactions to regulators — apply to NFT platforms, including online auction houses and digital art galleries.”
See also: DOJ Seeks to Double Jail Time for Money Transmission Crimes
The impetus, the department said, is the “explosive growth in the demand and corresponding markets for NFTs, perhaps most notably in the area of digital art.”
Substantial Risk
This “presents substantial money-laundering risks,” it said, citing a February Treasury Department study on money laundering in the broader art market.
“NFTs can be used to conduct self-laundering, a sequence in which criminals purchase an NFT with illicit funds and then resell to a purchaser who pays for it with clean funds unconnected to a prior crime,” that report noted.
It also found that in most cases, “digital assets that are unique, rather than interchangeable, and that are used in practice as collectibles rather than as payment or investment instruments … are generally not considered to be virtual assets under [international regulations].”
The “nonfungible” part of NFT means that each is unique and cannot substitute for any other, as opposed to cryptocurrencies like bitcoin which all have the same uses and value.
NFT marketplaces “may take the view that this definition [of a ‘value that substitutes for currency’] does not apply to their activities — and that they are thus not subject to the BSA’s anti money-laundering and anti-terrorism laws, the department said.
Justice is asking Congress to amend the BSA “to make clear that its key AML/CFT provisions — including the obligations to have customer identification programs and report suspicious transactions to regulators — apply to NFT platforms, including online auction houses and digital art galleries.”
Already There
Redefining NFTs as “value that substitutes for currency” would allow the Treasury Department’s Financial Crimes Enforcement Unit (FinCEN) to “potentially seek to regulate such activity under its money transmission regime,” a trio of lawyers at Skadden, Arps, Slate, Meagher & Flom wrote in an April blog post.
That, according to Jamie Boucher, Eytan Fisch and Javier Urbina, would require NFT marketplaces to register as money services businesses (MSB) with FinCEN.
Some types of NFTs — notably those used to fractionalize tangible assets like physical artworks and real estate, but also other valuable art or collectible tokens — are likely securities, the Securities and Exchange Commission (SEC) has said.
See more: How Did NFTs Become SEC’s Newest Crypto Target?
In FinCEN’s view, the trio noted, those can be repurposed to fit the definition of “value that substitutes for currency” and thus may already require MSB licenses.
 
For all PYMNTS crypto coverage, subscribe to the daily Crypto Newsletter.
New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking services, just 9.3% call them their primary bank.
Sign up for our daily newsletter.
You have successfully joined our subscriber list.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More
Sign up for our daily newsletter.
You have successfully joined our subscriber list.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More

source

Continue Reading

NFT

FTX Talking With Investors for $1B Fundraising at $32 Billion Valuation – NFTgators

Published

on

Quick take:
Although Binance maintains its number one spot in terms of crypto transaction volume, FTX is catching up quick after rising to third, behind Coinbase. This could change soon given the steps FTX is taking in web3.
According to reports, Sam Bankman-Fried’s company is seeking $1 billion in a new round of funding at a valuation of about $32 billion. That values FTX twice the value of Coinbase— whose market cap stands at just over $14 billion, and at least 7-fold Binance’s most recent valuation of $4.5 billion.
And there is a good reason for the disparity in market share (volume-wise) and overall valuation. FTX is more than just a crypto exchange platform. 
The company has expanded its ecosystem to include stock trading, NFTs, crypto lending services and more, all forming significant operational synergies for the rapidly growing web3 company.
It explains why investors are placing such value on FTX. According to sources close to the $1 billion fundraising talks, the figure could change by the time the round is closed, CNBC reported, citing people who did not want to be named.
FTX has been one of the most active investors in the web3 space during the crypto winter. The company is in the process of acquiring the crypto lending platform Blockfi for a reported amount of $240 million.
Last year, it acquired crypto derivatives platform LedgerX allowing it to offer derivatives trading alongside traditional crypto exchange services.
Earlier this year, the company purchased Good Luck Games, the developer of the card battle game Storybook Brawl for an undisclosed amount. The acquisition added another perspective to FTX’s business pouncing on the rapidly growing web3 gaming sector.
The company also recently announced a partnership with online game retailer Gamestop to onboard the gaming community to web3.
In July, Bankman-Fried refuted claims that FTX was planning to buy retail stock brokerage platform Robinhood after Bloomberg published a report suggesting discussions were underway.
News about the new fundraising come hot on the heels of the company’s $900 million raise announced in July. FTX also raised $420 million in October 2021.
Stay up to date:
The Embassy of Israel in Korea Opens Pavilion in the Metaverse
Bored Ape Yacht Club #2883 Was Today Sold For 105 ETH
Leading NFT Collections Are Seeing a Rise In Median Price
Uniswap Labs Acquires Genie, Announces Uniswap NFT
New NFT Marketplaces Bid to Dethrone OpenSea From Top Spot
Space Runners Ramps Up the Development of Its Metaverse-Only Fashion House with $10M Round

source

Continue Reading

Trending

Copyright © Diaily Meta News