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Welcome to the new series of Blouny magazine AKA Blouny mag.
The second season ended with 27+1 editions and now we are starting the 28th number as the first edition of our new chapter after rebranding our logo and the whole visual identity.
Time is rare so LFG!!
Crypto Market Wrap up
Weekly Crypto Recap: Binance, SEC, and BTC Dominance
Market Highlights
This week saw significant developments in the crypto market. Binance appointed Richard Teng as CEO after CZ’s sudden departure. The SEC filed charges against Kraken, accusing it of unregistered operations. Tether froze $225 million linked to human trafficking. HTX and Heco Chain faced a $100 million hack. Genesis sued Gemini for $689 million, and CoinDesk was acquired by Bullish. South Korea plans CBDC testing, and Easy Crypto launched NZD stablecoin.
Global Markets Overview
FED minutes favored high US rates, while the UK Composite PMI exceeded expectations. Japan’s factory activity shrank for the 6th month, and China listed Country Garden for financial support. Despite geopolitical tensions, the VIX remained low. BTC returned to the $38,000 range, and an ascending triangle suggests potential upward movement amid low volatility.
Binance Saga Unfolds
Binance witnessed a surge in withdrawals following CZ’s guilty plea, resulting in $1.784 billion net outflows in a week. The DOJ imposed a $4.3 billion fine, marking one of the largest against a financial firm. Competing exchanges like OKX, Bybit, and Bitstamp gained significant inflows.
Protocols and Alts
Blast announced plans for a Layer 2 Optimistic rollup with $20 million backing from Paradigm. This development influenced Blur’s funding rate, turning negative on CEXs. Blast’s mainnet launch in February 2024 is anticipated for potential market volatility.
Memes:
Memes by 6529 are getting close to the end of their 5th season. The season 5 just passed with the same distribution that punk6529 insists in; 3 drops a week, each with 323-369 edition supply for the same exact price of 0.06529 ETH even though the demand is still at some low points that we saw some cards went into the public minting for a day or more but we are still in the phase that need so many JPGs to spread our messages and send them to the mainstream consciousness.
So many great artists, so many great pieces.
Don’t miss any, go and catch up on all of them the memes’ casa: Seize.io!!
What’s up Deca?
Deca team has made things much easier with their new updates.
The mint on demand feature + posters has absolutely brought so much fun to the users, and now that everyone can use it you can find so many artists celebrating it by uploading new works, open to offers/bids and creating posters to hype each others!!
Read more about the Mint On Demand + Posters
Also the new Decal by Naime is open to enter its raffle via the deca platform
Dave Krugman: Bridging Digital Art, NFTs, and Photography
Capturing Legacy Through NFTs
Renowned photographer Dave Krugman ventures into the world of non-fungible tokens (NFTs), introducing a unique blend of digital art and analog history. His inaugural NFT, a high-resolution film scan shot with his grandfather’s Hasselblad 503CX, pays homage to a family legacy of photography. Krugman sees blockchain-minted art as the culmination of his family’s creative journey.
The Keystone: Early Photography NFTs
Krugman considers his early NFTs the cornerstone of his blockchain art ecosystem. Featuring raindrop close-ups, cityscapes, and captivating car portraits, these pieces embody the essence of his artistic vision. Notably, his “Most Influential” portrait of Art Blocks founder Erick Calderon reflects the generative nature of the universe, intertwining physics and photography.
Journey into NFT Awareness
In a conversation about NFTs, Krugman reveals his introduction to the concept in spring 2020 through a friend. As the world shifted to digital spaces amid the COVID-19 pandemic, he recognized the potential for NFTs to grant digital objects a tangible presence. The intersection of art and online communities became a focal point for this technology.
Artistic Decision-Making: Erick Calderon’s Portrait
When creating the “Most Influential” portrait, Krugman emphasizes capturing the subject’s true energy in a familiar environment. The unplanned yet profound process aims to immortalize moments in time. Erick Calderon’s pioneering role in the crypto and blockchain industry served as a deep well of inspiration for Krugman.
Exploring “ROLLS”: Fusion of Film and Blockchain
Dave Krugman’s “ROLLS” project stands as a testament to his innovative spirit, merging film photography with blockchain technology. Seeing film rolls as decentralized time chains, Krugman explores the parallels between film and blockchain’s proof-of-work mechanisms.
Innovative Auction Strategy and Camera Choice
The project employs sequential auctions on SuperRare, where each token symbolizes a frame on a film roll. What makes it intriguing is that Krugman sells tokens before capturing the actual images. The collector invests in an idea, adding an element of trust and challenge.
The Mamiya 7ii Connection
Choosing the Mamiya 7ii medium format film camera for “ROLLS” holds significance for Krugman. The camera’s quality, aesthetic appeal, and sentimental value, purchased with profits from the DRIVE project, make it an ideal tool for this innovative endeavor.
The Horizon Ahead: Beyond Expectations
With the success of “ROLLS” surpassing expectations, Krugman envisions limitless possibilities. He refrains from setting rigid expectations, viewing his art as an evolving ecosystem. Krugman’s mission to decouple artists from commercial interests fuels his creative exploration, promising beauty in the ever-expanding world of NFTs.
The OpenAI Rollercoaster: Sam Altman’s Return
An Unprecedented Power Struggle
Over the past week, OpenAI, a frontrunner in artificial intelligence, faced a dramatic power struggle that shook Silicon Valley. The turmoil began when OpenAI’s non-profit board ousted CEO Sam Altman, alleging dishonesty in his communications. The future of advanced AI and, by extension, humanity seemed uncertain. Yet, in a surprising turn of events, Altman was reinstated after three CEO changes and Microsoft’s strong advocacy.
Microsoft’s Influence
Microsoft played a pivotal role in Altman’s return, applying pressure as OpenAI’s major investor. The intense negotiations involved threats from most OpenAI employees to quit if Altman was not reinstated.
New Leadership Dynamics
Despite Altman’s return, neither he nor President Greg Brockman will immediately retake their board seats. Ilya Sutskever, OpenAI’s chief scientist, who delivered Altman’s firing news, plans to step down from the board.
The New Board Structure
Bret Taylor, former Salesforce co-CEO, is the new board chair. Other members include Larry Summers, former Treasury Secretary, and Quora CEO Adam D’Angelo. Microsoft CEO Satya Nadella sees these changes as a crucial step toward stable governance.
Unusual Governance and Legal Structure
OpenAI’s legal structure, a capped-profit company overseen by a non-profit board, remains intact. This setup enables decisions misaligned with investor interests, preserving OpenAI’s mission of responsible AI development.
Recap of the Turbulent Week
The crisis unfolded with Altman’s abrupt firing, triggering employee and investor outrage. Altman’s subsequent pitch for a new AI company intensified the conflict. Microsoft’s intervention, employee protests, and threats of mass resignations further complicated the situation.
Altman’s Triumphant Return
The saga concluded with Altman’s triumphant return as CEO after internal investigations into his alleged lack of candor. OpenAI employees celebrated, signaling a new chapter for the company.
Blur’s New Airdrop: Token Transfers and Exchange Dynamics
The Aftermath of Blur’s Airdrop
Blur’s recent token airdrop, marking the end of its second season, resulted in a significant surge in exchange inflow volume. However, contrary to expectations, this uptick did not negatively impact the token’s price trend.
Blur Airdrop Highlights
Blur concluded its second season with a token airdrop, distributing over 300 million Blur tokens on November 21. Despite the substantial airdrop, BLUR has experienced a remarkable surge of over 20%.
Airdrop Dynamics
Spot On Chain reported that recipients of the airdrop have actively transferred tokens to various exchanges. Notably, an address moved around 7.9 million tokens valued at $2.5 million to the OKX exchange.
Impact on Exchange Flow
Blur’s exchange flow dynamics witnessed a significant event on November 21, with the highest volume in over four months. The analysis of exchange inflow data revealed a substantial deposit of over 85 million tokens. This influx suggested that many token holders were inclined to sell, potentially influenced by the ongoing airdrop.
Exchange Supply Growth
The exchange supply metric for Blur saw a noticeable increase on November 21, reaching over 185 million tokens. Although a slight decline has been observed, the exchange supply has maintained around 185 million tokens.
Positive Price Trend
Despite the considerable token inflow into exchanges, Blur has showcased a positive price trend. With a gain of over 7% on November 21 and an additional increase of over 20% in subsequent trading, BLUR is currently trading around $0.4.
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