(Source: Fantom Foundation)
Just today, the team behind Fantom have just announced that they launched their Ecosystem Vault project which will be a new way to incentivize and support projects that are building on the Fantom Network, thus contributing to the growth of the Fantom Ecosystem.
How this vault will work is that 10% of transaction fees from the Fantom Network will be redistributed into a community owned fund, allowing this new fund to be allocated towards projects deploying on the Fantom Network. In order for this fund to have been created, the Fantom Network decreased their FTM token burn rate, allowing for the new vault to have been created instead.
In order for projects to actually be able to receive this funding, they must fill out an application that will require a forum post and a governance proposal that will require the deploying project to detail out their project’s biography, why they should be funded, a timeline of the project’s goal, etc.
Each project will then be voted on by FTM stakeholders and the community, with a deploying project needing to receive at least 55% of the votes to receive FTM tokens.
The distribution of FTM tokens that will be distributed to these projects will range anywhere from 500,000 FTM tokens to 3,000,000 FTM tokens and above. Different funding amounts will require different streaming payment times.
Plain and simple, The Fantom Foundation and Fantom are doing what they said they would be doing at the end of 2022: pushing out initiatives to further grow the Fantom ecosystem, empowering the communities, and incentivizing projects to continue to build on the Fantom Network.
As a byproduct of the Ecosystem Vault, this should spur more community activity as community members will be able to single-handedly support certain projects and their missions, and if community members truly believe in a project, they can vote upon which project will receive funding. If that project does very well in the long run, then it benefits the entire Fantom community as a whole.
In addition, I think that this new community funding initiative is a great way to filter out new projects in the Fantom ecosystem to determine their community sentiment. What I mean by this is that it is more than likely that if the majority of the community agrees upon a certain project, then that project is more likely to be a more sought-after or more credible project compared to one that does not get the community’s support, thus calling it community sentiment. Of course, it is not a substitute for actually doing your own research, but it may be a good starting point to look at what the Fantom community thinks will be good for the ecosystem.
(Source: Roblox Trackers Cover Photo Twitter)
In a new update for Roblox, presented by Roblox Trackers on Twitter, the game has announced that the new update will bring Roblox Limited 2.0 items, which are referred to as “Collectibles,” which has spurred some rumors about Roblox’s entrance into the NFT scene.
For a little background information on Roblox Trackers, they are a Twitter account known for posting about Roblox game updates and features, hence why people are questioning what these new Limited 2.0 Collectibles will be. Items in the game are already considered “collectibles,” so there is no surprise there in that aspect; however, the new post does state that the new Limit 2.0 collectibles will be able to be sold after a holding period, and Roblox users will continuously be able to sell them to one another and list them for sale as well.
Hmm, it is 2023, and the update does mention that these new collectible items will have the ability to be resold from one user to another. This does sound a lot like NFTs, as the Roblox team leaves the community guessing what these new collectibles will entail.
Of course, these are all just rumors on whether the collectibles will actually be NFTs or on the blockchain or not, but it sure is a thought that is fun to think about. Most of the time, rumors are just ways to get people to invest in something that they think will go up or down without any actual proven facts; however, it is not something to entirely disregard as many times, rumors have come true in the crypto space.
If Roblox actually presents NFTs with their new collectibles, then it could be an investment opportunity for some people to purchase some of the collectibles and potentially resell them for a higher price. Roblox, being one of the top 5 most played games in the world with active players, could result in the same craze of NFT trading that NFT collections like Reddit have brought.
Additionally, Roblox getting into NFTs will actually change the landscape of Web2 gaming, as one of the most popular games in the world has gone Web3 with NFT digital collectibles, creating a new gaming economy and pressuring other Web2 and traditional virtual world games to follow suit.
Take the rumor with a grain of salt, but if Roblox actually gets into the NFT space, then it is time for a lot of eyes to be watching the project. It will be an absolute craze for Roblox’s competitors and for NFT investors.
For those who are keeping up to date in the tech world, you will most likely know that ChatGPT and OpenAI have been the craze lately as students and working professionals have taken advantage of the tool to help them with homework or in their actual jobs when it comes to writing essays, coding, and anything that artificial intelligence can create through certain conditions and parameters.
We always talk about hard labor being able to be replaced by artificial intelligence and automated robots; however, what we haven’t realized is just how close developers are to being replaced in the crypto industry and tech world.
Reading upon Cointelegraph’s “10 Ways Blockchain Developers Can Use ChatGPT,” the article points out several ways that ChatGPT and AI could be beneficial to project building for crypto projects from start to finish, and it is scary just how much ChatGPT is able to help with.
Sure, a project manager or CTO should still be in charge of overseeing tech development and code, and ChatGPT should be a tool to “assist” with developing code and documentation; however, it is astonishing how much power ChatGPT has to create a few different things that crypto developers are assigned.
Pretty much summarizing the article, ChatGPT can be used to generate smart contract code, allowing developers to work upon an AI-built template and requiring less work from the actual developers. With the right set of parameters and conditions, ChatGPT will literally be able to help developers build out a good chunk of their decentralized applications, websites, whitepaper documentation, technical documentation, and wallets, and even be able to tell developers that their code has too many bugs.
Even more astonishing is that ChatGPT can create things beyond just smart contracts. ChatGPT can come into play with community engagement and management by having artificial intelligence help with customer support and FAQs. ChatGPT can also be used for market analysis and trading purposes, as artificial intelligence can be used to create market algorithms and indicators based on historical market patterns, allowing investors to utilize AI to aid their investments.
Some other instances where AI can be used really expand out into what the future of Web3 will be like, as AI will be able to create virtual worlds, aid customers in online shopping, and so much more.
Of course, no sane team will trust AI to entirely create their projects at this time, but in the future, there will be teams that will allow AI to dictate and have control over the development of their projects as AI for smart contract development becomes more advanced. As of now, it is simply a cool thing to use as an aiding tool rather than an end-all-be-all machine that builds out your entire project.
It would be wise to use AI to fact-check things such as bugs or to create basic frameworks to further build upon. AI can even be used to help monitor a network for potential exploits and stop them in time, which a human just cannot possibly keep up with.
And the conjunction between AI and crypto is not only limited to ChatGPT as there are so many other AI-focused software that can aid companies and crypto projects with literally every process of their development.
Not only is there demand for AI to be used when building out code and helping out with market analysis, but we have seen in this past few weeks that there is a strong market for blockchain projects that are focused around AI services and markets as seen by the significant growth with SingularityNet and Fetch.AI.
February 2, 2023 Crypto Roundup (Disclaimer: None of the observations or tips in this article constitutes financial, legal, tax, and/or any forms of advice.) Immutable
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To provide our Services we may collect some of your data some of which may under certain circumstances be considered personal information. We at Hector Network are committed to fully protecting your privacy and being a responsible and transparent custodian of the information we collect.
Therefore, please find all the necessary information on how we may collect and process your personal data gathered in connection with your use of our Site and our Services in this Privacy Notice.
Notice: Please, read this Privacy Notice carefully and in addition to the Terms and Conditions to understand our practices regarding the information that may be considered personal. If you do not wish for your personal information to be used in the manner described herein, you should not access our Site and all subdomains thereof, utilise our Services, participate in the offering of our tokens or otherwise provide Hector Network with your information which may be considered personal.
Please ensure that any relevant individuals are made aware of this Privacy Notice prior to providing their information to us or us obtaining their information from another source. In such a case, you or they must first ensure that you or they have the authority and appropriate legal basis to do so.
We do not knowingly collect or ask for data, including personal information, from people under the age of 18. If you are such a person, please do not use our Service or send us your data. Otherwise be informed that we erase such data the moment we learn it is collected from a person under the age of 18.
The administrator of our Site, provider of the Services and thus controller of your personal information processed in connection for purposes described hereinbelow is Hector Enterprise Inc.
Registered office: Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands
We will usually respond to all legitimate enquiries within 30 days. Occasionally it may take us longer if your request is particularly complex or you have made numerous requests. We will notify you and keep you updated.
‘Personal information’ is any information that, either alone or in combination with other data, enables an individual to be directly or indirectly identified (for example, name, email address, contact details, or any unique identifier such as an internet protocol address (‘IP address’), device ID or other online identifier).
We may collect the following basic personal information from you:
You can choose how Cookies are handled by your device through your browser or through our cookie banner, including refusing or deleting all Cookies. If you choose to receive no Cookies at any time, websites may not function properly and certain services may not be provided. Each browser and device is different, so check the settings menu of the browser or device you are using to learn how to change your advertising settings and Cookie preferences.
We may receive information about you from other sources, including third parties that can lawfully share the information with us and help us update, expand, and analyse our records, prevent or detect fraud or other suspicious activities and process payments. In addition, our Site may also include integrated content or links to content provided by third parties (such as live chat, social media content, plug-ins and applications).
Please be informed that we do not process special categories of personal data (such biometric data, data concerning health, racial or ethnic origin, political opinions, etc.).
We do not use either automated decision-making or profiling in terms of your personal information you provide to us.
We may use the information gathered primarily for the following purposes:
We may also use the information we collect:
We retain the information we collect for no longer than is reasonably necessary to fulfil the above purposes and to comply with our legal obligations.
Your personal information as described above is processed by us on a basis of the following legal grounds:
Taking steps prior to entering into a contract and necessity for performance of a contract with you – We may need to collect and use your personal information in order to enter into a contract with you or to perform a contract that you have with us, for example, when you provide personal information to us in order to purchase our tokens, if necessary for such purchase.
In such a case, the provision of your data is necessary in order to enter into a contract and also a contractual requirement as without such data we are not able to enter into a contract with you.
Compliance with legal obligations – We may process your personal information as may be required by respective legal or regulatory obligations that may apply to us.
In this case, the provision of your data is a statutory requirement without which we are not able to comply with our legal obligations.
Our legitimate interests – We may use your personal information for our legitimate interests to improve our Services, thus maintain and develop our business activities as well as to protect and enforce our or third party’s rights, if necessary.
Please be informed that you have the right at any time to object to the processing of your personal information which is based on our or third party’s legitimate interest.
Your consent – We send to you direct marketing e-mails upon your previous consent. Each such e-mail also contains a link that allows you to opt-out from receiving such e-mails, update your contact information or change your preferences at any time.
To withdraw any consent to processing your personal information, please use our electronic form or by clicking on a link provided in every e-mail sent to you to unsubscribe from such marketing electronic communication.
We may disclose information:
Important note: We do not sell, rent, or otherwise share personal information that reasonably identifies you or your organisation with unaffiliated entities for their independent use except as expressly described in this Privacy Notice or with your prior separate consent. We may share information that does not reasonably identify you or your organisation as permitted by applicable law.
When you voluntarily make your personal information available online in our environment shared by third parties (for example, on messaging applications, social media, message boards, web logs, or emails), that personal information may be viewed, saved, collected, heard, used and/or shared by third parties outside of Hector Network. We are not responsible for any unauthorised third party using such information. Please be mindful whenever you share any information in such environments.
Our Site may include integrated content or links to third parties’ content (for example, social media content, plug-ins and applications, video materials, etc.) which are governed by the third parties’ privacy settings and policies, which may differ from this Privacy Notice. This Privacy Notice does not address, and we are not responsible for or able to control, the privacy, security, or other practices of such third parties.
We deploy organisational, technical and physical safeguards designed to protect the information that we collect. This includes, when required or appropriate and feasible, obtaining written assurances from third parties that may access your personal information that they will protect the information with safeguards designed to provide a level of protection equivalent to that adopted by Hector Network.
We may store the information we collect on our servers both cloud-based or in servers located in countries where we or our service providers have facilities. Therefore, we may transfer information to countries outside of your country of residence which may include countries outside the EU member states.
Please note that if you are the EU citizen and provide us with your personal information, it may then be transferred for the purposes stated herein to third countries outside the EU/EEA under conditions set in this Privacy Notice and you consent to this by using our Site or Services.
You have the right to withdraw your consent at any time, without affecting the lawfulness of processing based on consent before its withdrawal. Therefore, the marketing e-mails we send to you include the opt-out link for you to unsubscribe from receiving such communication (as well as update your contact information). We will honour your choice and without delay refrain from sending you such e-mails.
Under local law, you may have certain rights regarding processing of your personal information, in particular, you have the right to request: (i) access to your personal information, (ii) rectification or erasure of your personal information, (iii) restriction of processing concerning you, (iv) objection to processing that is based upon our legitimate interests (as already stated above), and (v) data portability to other service providers.
We are committed to working with you to obtain a fair resolution of any complaint or concern about your privacy. If, however, you believe that we have not been able to assist with your complaint or concern, you may have the right to lodge a complaint with a respective supervisory data protection authority, as applicable, in your jurisdiction.
If you would like to contact us, please use the methods stated above.
Your ability to exercise these rights will depend on a number of factors and, in some instances, we will not be able to comply with your request, for example because we have legitimate grounds for not doing so or where the right doesn’t apply to the particular information we hold on you. Where so entitled to access to your personal information, you will not have to pay a fee unless your request is clearly unfounded, repetitive or excessive (upon which we may charge a reasonable fee or refuse to comply with your request). If you would like to discuss or exercise the rights you may have, you can contact us through the methods stated above.
Please keep us informed if your personal information changes whilst we continue to retain such information. We encourage you to contact us to update or correct your information if it changes or if you believe that any information that we have collected about you is inaccurate or out of date.
We may update this Privacy Notice from time to time and we encourage you to periodically review this Privacy Notice. If we make any material changes to this Privacy Notice regarding the way we collect, use, and/or share the personal information that you have provided, we will notify you by posting notice of the changes on the Site or, if we hold your email address, by email.
The use of certain of our Services may also be governed by other applicable terms and policies regarding privacy and the sharing of personal information, which supplement, and should be reviewed alongside, this Privacy Notice.
Unless otherwise defined in this Privacy Notice, terms used have the same meaning as in the Terms and Conditions.
Effective Date: 10 May 2022
This disclaimer (the “Disclaimer”) explains the terms and conditions governing your access to the https://hector.network/ website (the “Site”) and/or our services as described on the Site (the “Services”; unless the context provides otherwise, the Services shall be deemed to include the Site). This Disclaimer, together with the Terms and Conditions (the “Terms”), forms a binding legal agreement between you and Hector Enterprise Inc., with its registered office at Trinity Chambers, PO Box 4301, Road Town, Tortola, British Virgin Islands (“Hector Network” or “we” or “our” and its derivatives).
You must read this Disclaimer carefully. By accessing the Site and/or using the Services, you signify that you have read, understand and agree to be bound by this Disclaimer in its entirety and understand the risks related to the Services and crypto-assets in general. You agree to comply with this Disclaimer even if our methods to prevent the use of the Services are not effective or can be bypassed. If you do not agree with anything in this Disclaimer, you may not use the Services. We may implement controls to restrict access to the Services from any jurisdiction or persons prohibited pursuant to this Disclaimer.
You agree to indemnify and hold Hector Network harmless from any losses, costs, liabilities and expenses (including legal fees) relating to or arising out of: (a) your use of, or inability to use, the Services; (b) your violation of this Disclaimer or the Terms; (c) your violation of any rights of another party, including but not limited to any other users of the Services; or (d) your violation of any applicable laws.
Hector Network may, at its own discretion, assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you shall fully cooperate with Hector Network in asserting any available defenses. This provision does not require you to indemnify Hector Network for any fraud, gross negligence, or willful misconduct of Hector Network.
You confirm that you fully understand that (i) our crypto products and related services are unregulated and can be highly risky; (ii) there may be no regulatory recourse for any loss from crypto-related transactions; (iii) investment in crypto-assets or similar products carries a high risk, may not be suitable for retail investors and the entire amount invested may be lost.
Hector Network is not a bank, securities firm, financial institution, financial services provider or provider of similar services and does not provide investment, tax or financial advice, financial services or consulting services to users of the Services. We are solely the provider of the Services. Your logged digital assets are not covered by insurance against losses or subject to any deposit insurance schemes or protections.
You understand that you are solely responsible for any tax reporting and payment, levies or similar duties applying to you in relation to your use of the Services (including but not limited to your purchase and/or sale of any digital assets) and you agree to hold us harmless and indemnify us for any tax-related obligations applicable to you in relation to your use of the Services.
You may not use the Services if you are located in, or are a citizen or resident of any state, country, territory or other jurisdiction where your use of the Services would be illegal or where your use of the Services would amount to any violation of any applicable law either by you or by Hector Network, which is your obligation to check before using the Services, including but not limited to:
any jurisdiction for which the Services, or any offer or solicitation in respect of the Services, would require registration or licensing or otherwise would be unlawful.
The Services are also not available to any person who is the subject of economic or financial sanctions or trade embargoes administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control (OFAC) or the U.S. Department of State or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom; or (c) any other relevant sanctions authority (“Sanctions”) or is organized or resident in a country or territory that is the subject of country-wide or territory-wide Sanctions.
The information on this page and all other pages owned, operated by, or related to Hector are for educational purposes only and do not constitute any sort of advice. Cryptocurrencies, NFTs and other blockchain offerings are unregulated assets and users should do extensive research into how they work, the potential risks and the tax liability of owning them in their native regions. Users should carefully read all the documents above before accepting.