The company behind the NBA’s NFT trading cards is now valued at $2.6 billion

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Vancouver-based Dapper Labs, the blockchain company behind the NBA’s collectibles marketplace Top Shot, just closed a major round of funding toward its goal: NFTs for all. NFTs, or nonfungible tokens , have exploded in both the financial markets and the zeitgeist at large. Simply put, NFTs use blockchain technology to authenticate digital assets, which can then be bought and sold—sometimes at staggering sums. Much of the hype around NFTs has been fueled by headline grabbing sales, such as the artist Beeple’s recent $69.3 million payday for a single digital artwork, Twitter CEO Jack Dorsey hawking his first tweet for $2.9 million, and the original GIF of the internet’s favorite Pop-Tart cat going for nearly $600,000. Read Full Story

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Of course, there are now carbon offsets for NFTs

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The Weeknd’s recent NFT drop probably emitted the same amount of carbon as 86 transatlantic flights. But a new service says it can mitigate the effects of your next nonfungible purchase. Based on recent developments unfathomable to anyone born before 1990, it appears that people want to pay millions of dollars for digital images. Saving or screenshotting is not enough; internet users want to be sole and rightful owners of crypto-art, also known as NFTs, or nonfungible tokens, which can be images, video game assets, collectibles, or Jack Dorsey’s first tweet . Now, Nyan Cat is the new Mona Lisa , Cryptokitties are the new Impressionist paintings, and an artist named Beeple is the new Picasso. In a sale that’s a record so far, Beeple sold his Everydays piece, a collage of 5,000 pop culture images, through Christie’s for $69 million. ( Here’s a copy . You don’t own it.) …

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Twitter Q2 2020 earnings: Revenue falls 19% YOY, but daily active users up 39% YOY to 186 million

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Ad revenue took a kicking, but 20 million more users came to Twitter in the last quarter. Twitter has announced its second-quarter earnings for 2020. Unlike prior earnings reports, one thing that loomed large over this one’s was the unprecedented hack of high-profile accounts earlier this month. Twitter CEO Jack Dorsey did address the incident in a statement released with the earnings. But first, the numbers: Read Full Story

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