The theme of this week has been all about Web3 and its involvement in the film industry, as we discussed both Gala Films and the Tribeca Film Festival and their initiatives into creating NFTs. Now we have MoviePass Inc., which is a subscription-based ticketing service for movies and movie theaters. MoviePass actually went bankrupt in 2020 but has since been relaunched in 2022.
This re-launch comes with a new objective to implement a Web3 strategy for the company and its business model. In preparation for doing so, MoviePass announced their seed fundraising round, which was led by Animoca Brands with additional participation from Claritas Capital, Emerald Plus, Gaingels, Harlem Capital, and other investors. Although the amount raised has not been announced to the public, MoviePass co-founder Stacy Spike states that this fundraising round is simply a starting point for fundraising and hopes to raise the majority of its funds in 2023.
Furthermore, with this new undisclosed fundraising amount, MoviePass will develop their new Web3 strategy to relaunch their movie theater subscription service and implement VR film options. MoviePass has already partnered with 25 cinema chains and will most likely partner with larger chains as they continue to develop their products.
Interestingly enough, it seems like MoviePass is focusing on bringing traffic back to the cinemas rather than offering at-home experiences for films. I find this very interesting as more and more companies want to create a remote experience when it comes to VR technology where people can just watch movies at home; however, MoviePass believes that moviegoers and fans of the metaverse are very similar and go hand-in-hand; thus, innovating the movie-going experience could spur more traffic to cinemas from these audiences.
The goal here is to make going to the theater fun and popular again, ever since the pandemic drastically affected the number of movie-goers in the past couple of years. With a subscription-based movie ticketing service, moviegoers will be able to pay a simple monthly fee and be able to watch an X number of films in theaters every month. I am very interested to see how MoviePass aims to utilize VR technology for watching movies, however. Movies as of now aren’t necessarily filmed with 360-degree cameras, and simply watching a movie on a screen inside of a VR headset kind of defeats the purpose of going to a theater to just sit down and put on a headset, so MoviePass will have to get creative with how they implement their VR strategy into their product.
Potentially, MoviePass can integrate NFT technology into the way they make their subscription tickets, providing benefits and incentives for loyal MoviePass users. And maybe, MoviePass acts as a company that directs and films special types of VR films to be shown in the partnered cinemas in real life, allowing moviegoers to experience a new type of movie-going experience that may only be available for use at cinemas.
(Source: National Geographic)
The National Geographic Society is a very popular community, organization, and information source that produces, publishes, and creates educational content for people to learn about our planet, the way it works, and how it has changed over time.
Just this week, National Geographic applied for three trademarks that would allow it to trademark downloadable images, articles, artwork, videos, magazines, music, photographs, and much more for the purpose of turning them into NFTs.
With plans to turn photographs of wildlife, current events, animals, science, and the world into NFTs, it seems like National Geographic will be offering a very niche set of NFTs to those who love the content that the brand creates. Additionally, we know that National Geographic is also taking on a metaverse initiative, as they also partnered with Snowcrash for the purpose of launching their Genesis NFT collection.
National Geographic will launch their NFT project on January 17, 2023, which will consist of 1,888 photographs from 16 National Geographic native photographers.
I pretty much grew up watching and reading a lot of stuff from National Geographic, whether it was on TV or my teachers would put it on for us during class. To me, I found watching things about our planet to be very intriguing, and the content would always keep me focused with their high-quality video shots of wildlife, oceans, forests, deserts, and our planet in general.
Where am I going with this? Well, I understand that National Geographic is planning on building NFTs and all; however, there is no better organization to be going into the metaverse for educational purposes than National Geographic.
I think that a lot of people would find it very helpful and intriguing to be able to explore the world through a documentary series or educational documentary on current events, marine life, forest wildlife, and many other habitats all in a 360-degree VR setting.
This would take learning to a whole new level that could put people right there in front of our planet in a virtual sense that would be so much more immersive than just watching a screen in class or reading a magazine.
(Source: Coingecko Artificial Intelligence)
OpenAI is an artificial intelligence startup company that is most popular for their ChatGPT tool, which lets AI create any piece of text or work from just a simple description. Popular in discussions amongst Twitter and Linkedin, the startup just got huge news: Microsoft plans on investing $10 billion into the startup as a part of a fundraising round, which would ultimately put OpenAI at a valuation of $29 billion. The funding agreement states that Microsoft will take 75% of OpenAI’s profit until Microsoft can profit from their investment in the company, at which point Microsoft will own 49% of OpenAI, effectively giving Microsoft complete control of the company.
OpenAI has little to do with cryptography; Web3, perhaps, but not cryptography.However, just as metaverse is synonymous with the metaverse, with projects like Decentraland and The Sandbox popularizing the concept of the metaverse in cryptocurrency, there are analogous similarities with AI, particularly with projects like Fetch. AI, SingularityNET, Ocean Protocol, Numeraire, and Vectorspace for a little background on SingularityNET and Fetch. SingularityNET is a marketplace for artificial intelligence as a service that enables the outsourcing of AI work and the monetization of AI services. Fetch. AI is pretty much the same as the Cosmos-SDK interchain protocol, which builds its blockchain based on machine learning and artificial intelligence to be a unique layer-1 protocol.
Since the announcement that Microsoft plans to invest billions into OpenAI, AI sectors across all markets have shown signs of significant bullishness, especially in the crypto sector. The top two AI tokens by market capitalization, FET and AGIX, have risen by 127% to 229% in just the past 7 days, which are certainly not bear market gains.
Of course, bullishness and upward price action from BTC and its run from $16.5k to $19.2k certainly helped with this bullish momentum, and upon observing each of these two tokens’ long-term charts, they surely look like they are breaking out of their long-term bearish consolidation periods.
Could AI be the cause of the next bull run?
Well, it sure isn’t totally out of the picture, as there is obviously high demand for these tokens, especially during a continuous bear market. AI is also a very hot topic all across the tech industry, where it seems like almost every single investor, company, tech startup, big corporation, etc. all talk about AI and machine learning.
I think that AI could definitely be one of the few sectors that leads to the next bull market, especially as the blockchain industry evolves to utilize more and more AI for services. It is almost inevitable at this point that AI will be used for blockchain supply chains, in the metaverse, to build out platforms, and much more. At some point, machines will just talk with each other and pay each other through a distributed ledger to provide services, which would be conducted with each native currency, and this is where I would see the crypto space going in the next decade.
Of course, the crypto space cares a lot more about speculation rather than utility, historically. However, we are also moving into a time where crypto is starting to mature, with utility being a big focus for NFTs, tokens, and the metaverse. Here is how I see AI: it is hot, it is speculative, and it defines markets. On the other hand, AI is also very useful, has utility, and is effective at doing its job.
What will I do? I will most likely utilize risk management and hold bags of various protocols in the AI sector because I believe that they will perform well in the next bull run.
Not financial advice.
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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Welcome to the Hector Network platform (“we”, “us” or “Hector Network”). Hector Network is developing an ecosystem which consists of various innovative developments and applications (“Services”). The Hector Network platform is accessible on www.hector.network and any other sites or subdomains of Hector Network (“Site”).
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.