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Predict Crypto Markets & Earn Rewards with ROLA.ai's – GlobeNewswire

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| Source: ROLA ROLA
SINGAPORE CITY, SINGAPORE
SINGAPORE CITY, SINGAPORE, Aug. 05, 2022 (GLOBE NEWSWIRE) —

When ROLA began to develop their Web3 project, the first thing the team wanted to address was to create a platform that was not only community-driven but also “community-centric”. The result of their efforts will soon go live as the ROLA.ai app, the first-of-its-kind community of crypto lovers who can earn rewards for making market predictions.
Says Rosalind Lee, the Chief Product Officer of  ROLA: “ROLA aims to build a rewarding community that is truly“WAGMI”. We are in it together, and we all improve together.”


Rosalind Lee, Chief Product Officer of ROLA

ROLA – which stands for Reiterative Open Learning Algorithm – is built around a marvellous AI designed to update users, absorb their signals and reward them in turn. This is also the first AI-based crypto community platform that aims to build a robust social ecosystem that includes all Metaverse features, like Game-Fi and NFTs, that will connect and empower the community. The app thus transcends the conventional metrics of being limited to profit and strives instead for social connectivity – here crypto traders, investors and fans can gather and form channels to discuss, share and learn.
ROLA comprises many different features under the hood. Its major attraction is the Predict2Earn algo that distributes native $ROLA tokens to users who make accurate predictions for Bitcoin and Ethereum, and NFT rewards for predictions made for other tokens. Once earned, the $ROLA tokens can be used to buy NFTs and participate in staking games which will begin soon this year. 

On the technical side, there are two layers to the Meta AI engine – the first one, the base layer, updates and improves itself continually in making better and better predictions, and the second layer is the one that listens to the user generated signals and predictions and translates them into insights for the base layer. In this feedback loop, the AI algo continues to evolve and gain in strength, offering better insights to the community. 
How does the Predict2Earn feature actually work? The ROLA app sends out AI-based signals for up to 120 crypto trading pairs (more pairs to be added in future). The real-time feed on crypto pairs keeps the ROLA community updated. The market is divided into 8-hour sessions, and users vote on whether the session will end on a green or red candle! Rewards are calculated based on participation metrics and number of users. All users receive Rolagram NFTs in addition.
“By using the reiterative learning algorithm and Web 3.0, our AI evolves with the “Rolarian” community’s collective wisdom,” says Rosalind.
The ROLA community members go beyond profits, and can enjoy and challenge other “Rolarians”, the entire ROLA family, in meme wars and other games. Sounds fun? There is more to that. The social-fi media app allows users to browse popular crypto trends. ROLA will introduce a subscription-based service through which community members can also get in-depth information from seasoned cryptocurrency analysts and traders. Users can also create public discussion boards. For e.g., if there is a major market spike or dip in BTC or Ether, specific channels can be created for sharing views and insights with other users.
Only recently, ROLA has announced its first NFT collection titled ROLAGRAM. Each asset from this collection can be minted by users every month. Each new asset will be based on the users’ previous activities from the last month, such as their comments and voting history. This means that every NFT will be as unique as the user who receives them.
Another exciting community feature is the ROLAVERSE. This is a social ecosystem with all Metaverse features (Game-Fi, NFTs), and is not limited to income and profit. This is an authentic, decentralized experience missing elsewhere, where users connect and play games, and stake $ROLA tokens in the special ROLA-Coaster game and even create their own custom NFTs.
Rosalind Lee recently spoke about how ROLA is unique in its emphasis on teams and communities, and what the Cryptoverse will look like in the near future.
When asked how the idea of ROLA came about, Rosalind said, “It was a combination of WAGMI and AI. We admire anime, where the protagonists work together as a “we”, and accomplish their goals against all odds. In the crypto community too, the values of teamwork and cohesiveness are important. ROLA is our effort to create a unique platform for the crypto community. ROLA represents the wisdom of the crowd. The crypto community on Twitter inspired us a lot, and we felt that such user inputs could be aggregated and translated into something useful. The fruits so obtained could then be distributed across the community.
On where the crypto industry is headed and what’s needed, Rosalind says, “Right now, a lot of speculation is driving the world of Web3.0, De-Fi and crypto in general. I think the potential and use of these revolutionary technologies does not and should not end there. We hope that, unlike the past, when a few lucky individuals and groups with privileged access to technology got it all, things will turn out to be better. Financial literacy and public education will be important for this change to come about.”
Since its inception, the crypto industry has been driven by the power of its communities and the predictions that participants make about the markets. As such, it is important that members of this community be able to find each other and learn from each other’s predictions. This is what ROLA is trying to achieve. 
To wrap it up, ROLA is a next-generation social platform that uses AI to deliver signals about a broad range of crypto pairs to users, and in return enhances its learning from the user feedback and voting received. In addition to that, it offers gamified predictions about future price movements for leading cryptocurrencies. By providing both a space for community engagement and tangible rewards for this engagement, it is making sure that the crypto community continues to thrive with its own vibrant movement.

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

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

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

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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.
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