Following that, Emperor Tomato Ketchup and Sass both “doxxed” themselves — that is, revealed their identity — by doing the same.
The actual art was created by freelance artist Seneca, who’s not part of Yuga Labs.
Yuga Labs has big plans for its Bored Ape Yacht Club brand, plans that are both on- and offchain. (That is, both on the blockchain and in the real world.)
Start with more blockchain stuff. In March, Yuga Labs released Ape Coin, its own cryptocurrency. All Bored Ape holders were airdropped just over 10,000 Ape Coins at launch, worth around $100,000 at the time. (The value has since doubled.) Ape Coin will be the primary currency in Otherside, the metaverse Yuga Labs is building.
Metaverses are big, virtual spaces shared by hundreds or thousands of people at a time. They’ve existed for a long time, think Second Life or even Fortnite.
Our concerns with y.at is for every day the project is centralised it compromises the security of users, their data and wealth. What has perhaps been most surprising is the lack of upfront transparency.
Normally blockchain projects would publish technical papers about their architecture and design choices to be openly interrogated by the community of developers, but for some reason this is missing.
Yat nft emoji
A blockchain domain name system would have no central authority, and some believe this could be the foundation of a next-gen web, or “Web 3.0.”
Today, words like “blockchain” and “cryptocurrency” don’t appear on the Yat website. Jain doesn’t think that’s compelling to average consumers — he believes in progressive decentralization, which explains why Yats are currently purchased with dollars, not ethereum.
“Something we think is really funny about the cryptocurrency world is that anyone who’s a part of it spends a lot of time talking about databases,” Jain said.
“People don’t care about databases.
Yat nft sales
NFTs are a big business, with about $25 billion being spent on them in 2021. But despite all that money flying about, nonfungible tokens have yet to enter mainstream culture.
You’ve probably seen one, even if you didn’t realize you were looking at a pricey NFT.
Bored Ape owners currently using their NFT as a Twiter profile picture include Timbaland (1.6 million followers), Eminem (22.6 million followers) and footballer Neyman Jr.
(55 million followers). Jimmy Fallon and Paris Hilton are also BAYC holders, discussing their Apes in a (cringey) Tonight Show segment.
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Justin Bieber made headlines with his purchase of a $1.29 million Bored Ape Yacht Club NFT in February.
Since the launch last April at $200 (0.08 ether) each, the cost has skyrocketed: The cheapest you’ll find a Bored Ape NFT on OpenSea, the biggest marketplace for such wares, is $420,000 (145 ether). That ridiculous rise led to the NFTs being used as status symbols, first in the NFT space and then among celebrities too.
Yuga Labs, the company behind the NFT collection, has already expanded the ecosystem to include a cryptocurrency (Ape Coin) and is developing a metaverse (Otherside).
Beyond that, people holding Bored Ape NFTs are betting that the brand will completely breakthrough and go mainstream. Already it’s collaborated with brands like Adidas and Gucci, and last year a Bored Ape graced the cover of Rolling Stone magazine.
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Yuga Labs, MoonPay, World of Women, Tribute Labs, and Beeple are among the contributors. Tribute Labs, a ConsenSys Mesh-incubated business, created the DAO using the Tribute DAO framework.
Grimes and Sia, as well as NFT artist Beeple and entrepreneur Guy Oseary, are DAO members.
Grimes has joined the DAO’s board of curators and donated her most recent music video.
UnicornDAO’s cooperation with MoonPay, a crypto payments infrastructure provider, allows artists to join the DAO through a sponsorship scheme without facing financial obstacles.
Tolokonnikova admits to being “shamed as a female queer artist” by folks in the entertainment business when questioned about other barriers that may deter women from working in crypto.
“From a young age, girls are taught that they are not supposed to be technical.
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An emoji might as well become your username on Web3. Yat, a Nashville-based tech firm, believes this, and with 160,000 units Yats sold for a total of $20 million, it appears that many regular people agree.
One buyer bought a single-character key emoji that cost $425,000, while another bought a two-emoji rocket ship/moon combination that cost $200,000.
So what exactly is a Yat?
A Yat is a custom string of emojis. According to the creators, your Yat will not only be a global digital identifier in Web3, but it will also be a URL, wallet address, and can be an NFT minted on the Ethereum blockchain.
This could theoretically be a decentralized alternative to the present Domain Name System (DNS), which is managed by the Internet Corporation for Assigned Names and Numbers (ICANN).
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DNS organizes and assists people in finding information on the internet through a centralized, hierarchical system.
Although not all Yat’s are tokenized, it’s a cross between a non-fungible token (NFT) and a domain address. Since July 2021, owners have had the option to tokenize their string of emojis as an NFT on the Ethereum blockchain for a fee, but buying a Yat isn’t the same as minting an NFT.
Owners must first use the “visualizer tool” to produce a short animation of the emoji string before turning the Yat into an NFT.
The visualization is then linked to the Yat, and it may be minted as an NFT to be held or traded on OpenSea.
Several celebrities have already gotten on board with this new platform.
But that only happened after Green’s stolen Bored Ape was sold to another buyer.
Yat Siu, co-founder of Web3 gaming company Animoca Brands, noted in a Twitter thread that the best move for scam victims is to report their loss to the police or FBI, as phishing is a form of fraud, and to publicize the theft on a public forum. “If a buyer knowingly purchases a suspicious #NFT that was stolen goods he becomes personally liable,” Siu tweeted. “Marketplaces or organizations that — now knowing that the goods have been stolen — that do not take action may potentially make themselves liable as well.”
Green has invested in Web3 culture in more than just an expansive NFT portfolio — over $250,000 worth of NFTs remain in his wallet after the theft.
When’s the last time you went to a website and it said ‘powered by MySQL’?”
Y.at, however, was registered at a traditional internet registrar, not on the blockchain.
“This is laying the foundation — there are certain elements of the vision that are certainly more of a social contract than actual implementation at this point in time,” says Jain. “But this is the vision that we’ve set forth, and we’re working continuously towards that goal.”
Still, until Yat becomes more decentralized, it can’t yet give users the complete control it aspires to. At present, the Terms & Conditions give Yat the authority to terminate or suspend users at its discretion, but the company claims it hasn’t yet booted anyone from the system.
“As Yat becomes more decentralized, our terms and conditions won’t be important,” Jain said.
For example: https://y.at/???????????? Linktree being a freemium social media reference landing page that serves a metalink for all your other social links, which was reported by Techcrunch to have 8 million users in 26 Oct 2020.
Cool, right? Here is where it gets a little confusing..
Are these even NFTs?
Well, no (not yet). Currently, all yats are on a central registry controlled and operated by the US based Emoji ID, LLC DBA Yat Labs, a Delaware limited liability company and presumably like any other Web 2 platform, by a group of admins.
Neglecting the security implications, one of the reasons this is important to people buying into the project, especially those investing at the higher end much in the way would speculate on web domains (aka URLs), is because they can believe they can sell them for a profit.