Terra (blockchain)

• Warp v2 features improved account management, a revamped fee mechanism with a more dynamic and flexible fee calculation system, and switch statements for Warp job executions.
• "Our team at TFL has been laser-focused on building and bringing best-in-class, cross-chain applications to market," said Chris Amani, CEO of Terraform Labs.
• "Warp v2 brings exciting new features and utility to developers in the Cosmos ecosystem.
• Warp enables developers to schedule future transactions, referred to as "jobs," by defining specific conditions based on on-chain data.

• The Bitcoin ETF Token links its valuation to the progress of the spot Bitcoin ETF US Securities and Exchange Commission (SEC) approval process, for which a minimum eight-day window opened on Thursday.
• Bitcoin ETF Token is also a lower-risk, higher-reward proposition, making it attractive to hot money speculative traders and longer-term investors.
• The story doesn't end there – Bitcoin ETF Token also has a deflationary burn mechanism that is price-supportive because it reduces the total token supply.
• The $BTCETF token is probably one of the smartest and cheapest ways to capture the alpha returns promised by the launch of a spot Bitcoin ETF.

Non-fungible tokens (NFTs) are in dire straits. With the market in a severe downturn, it’s safe to assume the NFT bubble has well and truly burst. It was never clear why these digital collectables traded for such large amounts of money. Now they mostly do not. What’s behind their turn of fate? And is there any hope for their future?

What are NFTs?

• “Non-fungible” means unique, as opposed to a “fungible” item such as a five-dollar bill, which is the same as every other five-dollar bill.
• Digital assets are easily copied, so an NFT is essentially a receipt showing you have paid for something that other people can get for free.
• Both sets consist of 10,000 similar-looking but unique figures, distinguished by differing hairstyles, hats, skin colours and so forth.

Why did people buy NFTs?

• Even the venerable auction house Sotheby’s, founded in 1744, jumped on the NFT bandwagon.
• Sotheby’s sold 101 Bored Ape NFTs for more than US$20 million in September 2021.
• As with Bitcoin and similar speculative tokens, the primary driver for buying NFTs was greed.
• Then came the Beanie Baby and dotcom booms of the late 1990s – and more recently, meme stocks and Terra-Luna cryptocurrency.

The NFT crash

• Prices in the NFT market have also seen huge falls.
• One high-profile example is an NFT of the first tweet by then-Twitter CEO Jack Dorsey.
• Crypto entrepreneur Sina Estavi bought this NFT for US$2.9 million in March 2021.
• What drove the NFT collapse?
• Last year, British Prime Minister Rishi Sunak announced, when he was chancellor of the exchequer (their equivalent of treasurer), the Royal Mint would produce an NFT.

Gone for good?

• Some subjects of past bubbles are still around.
• Poseidon shares, which ran up from 80 cents in September 1969 to $280 in February 1970, are still listed (and currently trading for 2 cents).
• They will probably join the Dutch tulips and dotcoms in the history of speculative follies.