• The article is about the most alpha tweets from the NFT Paris event
• It includes quotes from artists and representatives of projects, as well as a video from the ground
• Highlights include Tom Sachs bringing Brigitte Macron into the NFT world, a 500m queue for entry, and artwork on display
Overview of NFT Paris
This article is about the most alpha tweets from an NFT event in Paris. It highlights some of the conversations between collectors, artists, and representatives of projects at the event. This includes Tom Sachs turning Brigitte Macron into an NFT holder and a 500m queue to get into the venue.
One highlight from this event was @DeGodsNFT’s viral NFT party. There were discussions on panels regarding AI and generative art which further added to the buzz of this weekend’s events.
Tom Sachs‘ Tweet
Artist Tom Sachs created quite a stir when he posted an image featuring Brigitte Macron joining in on the festivities by holding an NFT. This tweet showcased his artistry while also bringing attention to what looked like one wild weekend at NFT Paris.
The Queue Outside
Those who attended were met with a 500m queue outside before they could enter into their destination. @RugRadio caught some good footage of it while those online expressed their FOMO with hilarious tweets shared across social media platforms.
Art On Display
Aside from all the conversations taking place during this historic weekend there were also many galleries and artists exhibiting their work for all to see. @TheCurated_App recap’d some of these exhibitions in order to give us all a better glimpse into what went down during this monumental event in French crypto history!
- Circle has submitted a response to the Central Bank of Ireland highlighting the benefits of blockchain-based financial services for consumers.
- Public blockchains can increase competition and disaggregate financial services, benefiting consumer privacy and improving capabilities in the fight against illicit finance.
- Firms offering novel financial products should engage with supervisory authorities before a formal application.
Circle Recommends Central Bank of Ireland Adopt Public Blockchains
USDC issuer Circle has engaged with the Central Bank of Ireland to promote the benefits of blockchain for improved consumer protection. In its response to the discussion paper issued by the Central Bank, Circle offers recommendations on how financial supervisors can support innovation while ensuring that consumers‘ best interests are protected.
Benefits of Blockchain Technology for Consumer Protection
Public blockchains have numerous advantages in relation to consumer protection. These include increased competition, disaggregation of financial services, stronger privacy protections, more transparency through improved literacy, and regulators being able to track real-time blockchain transaction data. As an example, Circle cites how blockchain-based payment systems can help protect users‘ privacy by not accumulating proprietary stores of data like traditional banking systems do.
How Financial Supervisors Can Support Innovation While Protecting Consumers‘ Best Interests
Circle’s response outlines several ways that supervisors can ensure that innovation is supported while still protecting consumers. It recommends engaging with supervisory authorities before submitting a formal application for novel products; informing customers about market abuse or anomalies by monitoring and analyzing real-time blockchain data; and supporting digital literacy initiatives so that users understand how their data is used.
The use of public blockchains in consumer protection could bring numerous advantages to both consumers and regulatory bodies alike. By providing better access to information, increasing competition among providers, and enhancing consumer privacy protections, public blockchains could lead to greater trust in digital financial services overall.
• Ordinal Punks, a Bitcoin NFT collection, have been called out as potentially “the biggest NFT scam of all time” due to an inadequate infrastructure and strong FOMO.
• The novelty of the Bitcoin chain and its provenance seem to drive demand, but there are questions about legitimacy.
• Bitcoin Punks, a clone of Ethereum’s CryptoPunks, is also suffering from lack of smart contracts and the same „square peg, round hole“ approach.
Ordinal Punks Called Out
An anonymous Twitter account has expressed concerns about Ordinal Punk’s NFTs being „the biggest NFT scam of all time.“ This is particularly due to a lack of on-chain infrastructure that could verify information such as sales or even facilitate click-and-buy processes. Additionally, details about Ordinal Punks are restricted to people’s accounts rather than open data derived from on-chain information.
The rising popularity of Ordinal Punks is evident with the sale of three NFTs including #94 which reportedly sold for 9.5 Bitcoins ($215,800). Despite the lack of necessary infrastructure for such activities on the Bitcoin chain, people are going crazy in Discord trying to snap up one these Bitcoin Punk clones.
Price Floor for Blue Chip NFTs?
According to the Director of Research at PROOF Collective who got his information from a „Google doc,“ it appears that Ordinal Punks have set a price floor at 55.4 ETH ($85,500). Although this may be considered ball park figures for blue chip collections, TheNorweigan questioned whether these belong in this group due to low transparency and extreme asymmetry when it comes to information available about these collections.
Given that Bitcoin was not originally designed with NFT functionality in mind, there is no appropriate infrastructure present yet which can accommodate sales in an easy click-and-buy process or even verify sales or other related information accurately. Consequently it makes it difficult for buyers to make informed decisions regarding their purchase without having access to full information on what they’re buying into first.
Advice Against FOMO
Despite the current wave of enthusiasm surrounding these collections due to their novelty value on the Bitcoin chain and provenance effect, @seanbonner has advised against falling prey to FOMO because: A) There’s no market so you have rely OTC; B) There are a lot scams; C) Low/none transparency; D) Need to run node; E) Extreme info asymmetry .
• Ric Burton, CEO of Balance, has opened legal action against Uniswap founder Hayden Adams over alleged debts incurred by assisting Uniswap to market.
• Burton claims he invested time, friendship and money in the project, only to be betrayed by Adams who refused to repay him.
• Burton was part of the Ethereum Foundation’s investment round for Uniswap and expected compensation for his help but never received it.
Ric Burton Alleges Betrayal from Uniswap Founder
Meeting Hayden Adams
In Spring 2018, Ric Burton was looking for dApp developers in New York. He recalled that out of all the hopefuls he had encountered, Hayden Adams stood out with his unwavering enthusiasm for Uniswap. The pair quickly became close and supported each other in their respective struggles to make it.
Uniswap Investment Round
The Ethereum Foundation soon came knocking on Uniswap’s door after recognizing its potential and investing in the project. With crypto investment firm Paradigm also on board, things looked promising for the protocol’s future. Adams told Burton he intended to include him in the round as repayment for his help – a promise that would never be kept.
Burton Left In Limbo
Things were not going well at Balance while things were very good at Uniswap -Adams raised just over $1m without including Burton as promised. When asked why he wasn’t included in the round despite believing this was what they had agreed upon, Adams disappeared without a trace and left Burton feeling betrayed and heartbroken.
Legal Action Taken Against Adams
In light of these events, Ric Burton has now opened legal action against Hayden Adams due to unpaid debts incurred while assisting him with marketing Uniswap.