Near Protocol shows no signs of backing down from the top as its active users has exceeded a staggering 3 million. This represents the success of AI and blockchain as a whole.
NEAR protocol has 3 million active users as reported by cryptorank. This achievement cements it as the top platform in AI and also a major player on the wider blockchain world. Both Tron and Solana couldn’t manage to get that number in the same period.
Growth of AI cryptocurrency market coincides with the growth of NEAR. This shows that blockchain and AI are becoming more and more intertwined. The most important factor influencing users to engage on NEAR is the rapid growth in AI related decentralized applications. Reportedly, dApps have increased by 70% compared with the previous quarter in Q3. It is also one of the most anticipated coin to surge in Q4.
According to a survey, AI dApps garnered 4.3 million daily unique active wallets, this really shows the growing interest in this sector of the cryptocurrency industry. NEAR protocol followed this trend by establishing collaborations with major corporations such as Nvidia and Alibaba to increase its AI capabilities.
With such collaborations and following the market trend, NEAR has shown strong growing ecosystem. The ecosystem is still experiencing positive growth, however market sentiment remains cautious as the price of the protocol decreased by 2.36% to $4.87, along with a more than 30% decrease in trading volume.
Exciting news! OpenAI's expansion to Singapore demonstrates the universal value of artificial intelligence. As always, it's crucial to approach this development with a critical eye. Let's focus on responsible and ethical AI usage, ensuring a sustainable future for all. 💡🌏…
OpenAI, the most popular AI research organization is expanding globally setting Singapore its next target. OpenAI seeks for skilled engineers to hire in order to build a team in Singapore. Reportedly, OpenAI is aiming to work closely with local government, businesses and organizations in Singapore.
Oliver Jay has been appointed as Managing Director of International, where he will see OpenAI’s global expansion from Singapore. The company is committed to developing Singapore’s local AI ecosystem. It plans to work together with government partners such as the Economic Development Board (EDB) in order to create an AI enabled future for all. OpenAI wishes to build products that may take up to $1M using open data that reflects the immense cultural diversity of Southeast Asia.
This is just a small part of OpenAI’s global expansion run. Alongside Singapore, they plan to open factory in Brussels, Seattle and Paris meanwhile they are getting growing demands in San Francisco, London, Dublin and Tokyo. This shows how OpenAI is close to taking over the AI world.
In an important move to enhance liquidity in the cryptocurrency space, 21. co, the parent company of 21shares has announced a tactical partnership with crypto.com. This partnership focuses on improving liquidity and custom solutions for 21. co‘s wrapped tokens, starting with wrapped Bitcoin (21BTC)
Wrapped Bitcoin: Bridging Blockchains
Wrapped tokens like 21BTC allow users to leverage Bitcoin’s market value while utilizing other blockchain ecosystems, particularly Ethereum. This collaboration aims to “wrap” Bitcoin in a Smart Contract, which allows investors to associate with Decentralized Finance (DeFi) that operates on a different blockchain. This partnership brings together the best features of both worlds: the value and trustworthy nature of Bitcoin integrated with the flexibility and functionalities of Ethereum.
Partnership Details and Benefits
Crypto.com’s vast will be leveraged by this collaboration, which will provide necessary support for 21BTC tokens. This platform also allows competitive fees and advanced trading technology, improving the efficiency of 21.co’s product.
Head of Strategy at 21.co, Eliezer Ndinga expressed the importance of combining 21BTC with crypto.com, stating that it will eventually improve accessibility for investors worldwide.
Ndinga stated:
“Crypto.com is one of the world’s largest digital assets exchanges serving over 100 million users globally. As one of the world’s largest issuers of crypto ETPs, 21.co brings asset management best practices and operational excellence to the world of wrapped assets.”
Looking Ahead:
With a major aim to improve liquidity for wrapped bitcoin, both companies have expressed plans to further expand their partnership. When crypto products are highly demanded, collaboration like this aims to streamline access and enhance liquidity for both retail and industrial traders across the globe.
By joining forces 21. co and crypto.com are aiming for seamless, efficient, and effective Wrapped Bitcoin. This aims to make the crypto market available to a broader audience.
Axelar has launched a tool to make digital and decentralized app creation smoother and faster. This project is named Mobius Development Stack. Mobius can be used by developers to easily access infamous networks like Solana, Stellar, and XRP ledger without complication.
Mobius works in coordination with popular OpenZeppelin Libraries and supports both on and off-chain resources. It also brings the finest technology like AU and zk xo-processors for extra flexibility. This also provides security in cross-chain connectivity. Mobius also uses the Interchain Token Service which allows faster creation and transfer of cross-chain tokens.
A New Era for Web3 Devs
Mobius makes building on blockchain several times easier. It creates a versatile environment. The use of Interchain Amplifier backed by assets like Axela’s native AXL token provides security in cross-chain connectivity. It’s all about making the system frictionless and enhancing the developer’s experience in this ever-evolving nature of web3.
Refik Anadol Studio, co-founded by Refik Anadol and Efsun Erkiliç, is about to launch an innovation masterclass of AI art and NFTs museum named DATALAND at the Grand LA, designed by the famous architect Frank Gehry. This innovative museum located in Los Angeles is believed to transform how we experience digital art by adding AI-generated images, rare NFTs, and many sorts of technical marvels.
A New Era of Artistic Expression:
Datalandaims to make the museum experience more technically advanced by adding much more than just pictures on walls. The AI-generated gallery will not only showcase Visual art but also add some hints of an AI-generated vibe so it gives multi sensory experience. The main motive behind this innovation is to make art available both in-person and virtually.
As Refik Anadol explained:
“We aren’t yet revealing the details about DATALAND’s artistic programming, but there will be many moments for sharing/exhibiting AI artists’ work both physically and virtually so people who cannot travel to LA have access to the AI art creations. And they can purchase the AI art NFTs minted on sustainable blockchain platforms.”
Futuristic Gallery with Immersive Digital Artwork.
Global Environmental Focus:
DATALAND‘s launch was announced during Climate Week NYC, running alongside the United Nations General Assembly. The exhibition of this museum will feature works of art by the Large Nature Model, which is an AI system based on true data. This exhibition is inspired by nature and natural sustainability, which highlights Anadol’s aim and commitment to promote a safe and secure sustainable natural ecosystem.
UN Under-Secretary-General Melissa Fleming praised Anadol’s work, stating:
“Refik Anadol’s artwork is a testament to the beauty and fragility of our natural world. It’s a clarion call to world leaders: we must harness the power of technology [AI art & NFTs] and human ingenuity and agency to incite action to protect our planet before it’s too late.”
Immersive, Nature-Inspired Digital Art.
A Home for AI Art in LA:
Los Angeles known for its artistic innovation in music, art, and even technology, was chosen to be the home for DATALAND. Refik Anadol stated he felt safe choosing LA as he believes this city to be the base for artistic progression and cultural progression, boldly stating LA to be the perfect place to launch a museum that combines human imagination with AI intelligence.
Anadol shared:
“To have a permanent space for us to develop a new paradigm of what a museum can be—by fusing human imagination with machine intelligence—is a realization of one of my biggest dreams,”
DATALAND set to launch on Los Angeles.
Historical Context of AI Art and NFTs:
Christiane Paul, digital art curator at the Whitney Museum stated the fascinating history of AI art. She believes that AI-generated Art can be traced back to the early 1950s and 1970s. From the early AI generation to to the rise of NFTs in the current context, the intersection of technology and art has evolved exponentially and it’ll continue to make it greater than ever.
Christiane Paul explained:
“AI art has a fascinating history that intertwines technology and creativity, and it continues to evolve, pushing the boundaries of what is possible at the intersection of technology and creativity.”
In 2018, Christie’s made history by auctioning its first AI-generated artwork, moving one step towards integrating AI-generated artwork in traditional art space.
The Future of Museums, AI Art, and NFTs:
Museums for a long period of time have been a safe space for physical art enthusiasts to satisfy their artistic side with hardly any improvement done, however, Museums around the world are now seeing the artistic nature of AI-generated artworks and integrating AI-artwork and traditional artwork showcasing AI’s intelligence and Human’s imagination. Institutions such as Seattle’s NFT Museum, the Centre Pompidou, and MoMA have managed to attract new audiences to this vastly new unventured side.
Kevin McCoy, the creator of the first NFT, supported Anadol’s vision:
“I’m heartened by Anadol’s announcement of DATALAND. He is leading by example both with his ‘ethical AI’ initiative and the commitment to the exhibition and preservation of AI and digital art that the museum represents.”
McCoy also stated :
“Within this context, the provenance provided by NFTs and blockchain-based records, more generally, can play a central role. This will be an important next step in the expanding use of this technology.”
Futuristic Museum Exhibiting AI-Generated Artworks alongside NFTs.
Conclusion:
Museums, as well as Nations, have shown their interest in the growing scope of digital assets in this age, DATALAND aims to play a significant role in nurturing this new age of Artificial Intelligence. It aims to combine cutting-edge technology with art committing themselves to sustainability and creativity. Anadol’s announcement to launch a futuristic museum has left us all with our jaws wide open. Considering how everything has started to become digital or digitally powered, DATALAND may very well represent the future of museums.
SWIFT will trial live transactions through the use of digital currencies and tokenized assets in 2025. This pushes human civilization one step further towards bringing the integration of digital banking and traditional banking together. With the whole world changing and people relying more and more on digital mediums for transactions, SWIFT aims to form a bridge between these two finance systems/
Exciting news! Starting next year, financial institutions from around the world will start trialling live digital asset and currency transactions on the Swift network.
This marks an important milestone in our journey to enable banks to transact interchangeably across both… pic.twitter.com/70BxOMoBpT
SWIFT CONDUCTING LIVE TRIAL TRANSACTIONS FROM 2025
Why Tokenized Assets Need Both Payment and Delivery
Banks as well as asset managers have been trying to use blockchain elements for faster and cheaper trading experiences. The difficulty they faced was with facilitating both tokenized assets as well as a secure payment system. This new platform formed by SWIFT aims to conduct real-life transactions in the traditional banking space.
Further Challenges
This project is widely appreciated but there are people who have their doubts. Not everyone is jumping on digital currency yet. While most countries are applauding the idea some have their doubts like Sweden, which is holding back due to regulatory and technical concerns. SWIFT’s trial is a light sparked in the right direction but the destination is still not clear as there’s still a long way before everyone starts using digital currencies in everyday finance.
On October 4, Sui suffered a massive dip. It dropped over 15% after experiencing a high of $1.97 for six months. The token took a massive loss and fell down to $1.62 before recovering slightly to $1.78, which leaves it 4% down. Its market value also dropped from $5.46 billion to $4.45 billion during this sad turn of events for SUI and SUI enthusiasts.
Token Unlocks, Market Moves, and Profit Rotations
Unlocking of 64.2 SUI tokens coincided with the steep price drop, which might cause volatility. However, the value decrease of SUI wasn’t as bad as anyone would expect. The value degrade wasn’t a complete downfall because SUI was experiencing high value for over 6 months which has kept investors optimistic about the project’s long-term potential.
Some market investors as well as watchers believe that traders shifted into Aptos (APT), a competing layer-1 blockchain hoping to gain short-term profit. Despite its low tide, SUI had 6 months of high tide which has rapidly grown SUI’s ecosystem, with its total value locked (TVL) hitting $1 billion, up from $383 million in August. Several factors have helped SUI gain such strong momentum, for example partnerships with companies like Circle and Atoma. Partnerships are also helping SUI broaden its utility across decentralized finance and blockchain-based AI.
Signs of Recovery and Future Growth
Despite the volatile nature of the layer-1 blockchain, technical indicators suggest that SUI might be heading for a recovery. The token is holding above the middle Bollinger Band ($1.55), and the Average Directional Index (54) points to a strong trend. With such a steady growth in its ecosystem and key partnerships with innovative companies, SUI remains well-positioned for future expansion and does show a sign of potential bullish momentum.
Abdul Rafay Gadit, co-founder of Zignaly, made a strong and bold move by moving his attention from traditional finance (TradFi) to digital decentralized Finance (DeFi). Traditional Finance is all about protection and regulation of customer information and assets but it tends to be really slow as it requires manual effort for the most part. Decentralized Finance on the other hand offers anyone with internet access the chance to involve themselves in this digital money world. Gadit believes that DeFi also comes with major problems such as the risk of hacking, and bugs on smart contracts however, he also believes we’re at a turning point where TradFi and DeFi are about to merge.
ZIGChain’s Vision for the Future
Gadit’s experience in traditional finance has made him well versed in its flaws so he aims to blend TradFi and DeFi into one, this way TradFi’s weak sections like risk management and user protection can be strengthened by innovation and openness of DeFi. That’s why he shaped ZIGChain, Zignaly’s upcoming decentralized blockchain, it aims to be a decentralized wealth-generation platform. This offers builders, fund managers, and users all over the world be able to make their own DeFi tools, dApps, and many more blockchain elements. This project also seems to have a bright future as it’s backed by a huge amount of $100 million. ZIGChain aims to make DeFi, Real-world assets, and NFTs into something way bigger than it already is, providing users with a wide range of investment opportunities.
TradFi and DeFi Are Converging
Gadit believes the future of all finance businesses leads to the merging of the digital aspect of finance with the traditional physical aspect of finance. He foresees a future where financial systems are more accessible and efficient, and users can very very easily rotate between traditional financial systems and Decentralized financial systems. Zignaly’s new mission is to create a new way of building wealth and making investment more inclusive, stable, and rewarding at the end of the day.
Many Bitcoin miners are now turning their rigs off.
Bitcoin's electrical cost has just been breached for the 2nd time only in 5 years. The electrical bill for the average miner is now greater than the income earnt. pic.twitter.com/0yG3pmrGKO
With the rapid advancement of AI, systems need a lot of data centers to run and those data centers require a lot of energy. Electric Power Research Institute said US data center energy consumption will become more than double by 2030. This makes it 9% of the overall energy use.
For power-based companies, AI has become both a competition and an opportunity. AI data centers are getting more attention than cryptocurrency mining as AI is backed by large technology with more capital and power contracts. Every industry looks for profit and AI data centers are more likely to favor than cryptocurrency miners as AI is more lucrative and secure. Since AI has more financial backing, right now AI developers can more easily meet their power needs.
With this growing competition, crypto miners have found a way to cope by marketing whatever they have to AI data centers. It requires hundreds of thousands of dollars per megawatt of capacity to run cryptocurrency mining whereas it takes about $7 to $8 million dollar for an AI data center to function per megawatt of capacity, this is because AI data centers are more sound and sophisticated. They also require a lot of system cooling hardware. Even so, everyone says the future is shifting towards AI and they are investing a lot to cover its huge price requirements. One of the main techniques crypto miners are pitching power companies to let them use power is that, AI cannot be interrupted while crypto mining can be turned on or off rapidly making it a flexible load that can work on power-saving modes.
These are the things that are being discussed and the competition between these two energy-hungry industries has been greater than ever.
According to a press release, Pekao bank partnered with Aleph Zero to launch Archiv3, a project aimed at tokenizing Polish artwork and securely storing it for future generations.🚀 pic.twitter.com/hxpYbNR9jZ
Poland’s bank Pekao is trying to preserve its cultural heritage with blockchain technology. Pekao has partnered with Aleph Zero in order to carry out this project. This innovative project, Archiv3 aims to digitalize and tokenize famous Polish artworks to ensure their easier accessibility and make them more secure for future generations.
Tokenizing Art and Storing it in the Arctic Vault
Archiv3 uses 3D scanning technology to convert physical artwork into Non-Fungible Tokens (NFTs) on eco-friendly Aleph Zero Blockchain. These NFTs are then stored in the Artic World Archive, which is a highly secure facility situated in Norway. Arctic World Archive is a crucial storage designed to store important information in case of cyber threats and disasters.
The Role of Blockchain in Safeguarding Cultural Assets
This innovative initiative by Bank Pekao highlights the fusion of traditional, cultural artwork into modern technology. This initiative ensures long-term preservation of cultural assets. This project along with other several projects going on currently shows the increasing role of Blockchain in digital asset management.
