Issue #16
Week 53 2020

A Year in Review

fireworks

Happy New year to all! 

BTC is trading at 34K $ and ETH around 950$ at the time of the article.

You may be wondering, why is this issue going out as week 53 2020 and not week 01 2021?

Well, because that's the scientific method to count weeks.

spock

From Epoch converter:
Week 53 is from Monday, December 28, 2020 until (and including) Sunday, January 3, 2021.

Week number according to the ISO-8601 standard, weeks starting on Monday. The first week of the year is the week that contains that year's first Thursday (='First 4-day week').
ISO representation: 2020-W53

The highest week number in a year is either 52 or 53, 2020 has 53 weeks.

Here we can see week numbers by years.

week53

What a special year 2020 turned out to be for the crypto industry!

The year started with terrible news that shook the world and especially basketball fans. Kobe Bryant and his daughter died in a helicopter accident. While quarantine became an everyday word.

When looking back, the biggest point of focus on 2020 has undoubtedly been COVID-19. Even though, we all know that it's a manufactured virus from the lizard people who work with Anunaki to achieve global domination and turn frogs gay.

BLM movement and the American elections would also go on a highlight reel.

But an argument can be made that COVID-19 was a catalyst that accelerated crypto adoption.

2020 has been a beautiful year for crypto and confidence in the markets has been restored. We started the year with bear market and ended in the biggest bull run so far.

Just in January BTC was trading around the 7K $ mark and ETH around 135$!

We witnessed DEFI applications being born and mooning short after. Some had coins, some didn’t. We all became farmers for a short bit. The volume and locked value in DEFI went parabolic.

We probably also had a record-breaking year for rugs and scams. So many successful initial land offerings. Decentraland, Cryptovoxels, The Sandbox Game, and Axie Lands just to name a few. That was Q1 - Q2 2020. Their secondary markets also pumped like mad with huge sales being recorded.

The DEFI projects and protocols issuing coins created a nice altcoin pump making some people realize massive gains. Some people even made fuck you money just from airdrops.

In general all ETH network users have benefited very well during the year. A side effect of that growth was the exposure of how not ready the network is and spearheaded awareness and interest over this big problem.

Scaling options are now widely discussed for each project and the average user is more educated on the subject. ETH 2.0 is getting closer by the day.

Cryptoart went parabolic. From a small niche to a new revolution in arts. Platforms like NiftyGateway, Superrare,  Rarible, KO, MP and OS played a big part in moving the space forward as a whole.

However we are now more educated about onchain benefits and how to proceed moving on ahead. There have been record after record breaking this year, for cryptoart NFT sales.

A factor that drove many "mainstream" artists to join the cryptoart movement.

Undoubtedly the MVP of this year in cryptoart has been BeepleMaybe it would be more accurate to say Beeple has been ROY and MVP.

Another notable name for the year in NFTs is Pranksy, not just for the fact of how much ETH he was able to accumulate but also for inspiring so many to get in on the grind, because of how open he is about it.

Cryptopunks did a 40x this year and have recorded some amazing sales (check the article next about it). Established NFT projects now have strong communities behind them. Who will forget the great $Rari farming mania and #rarigang of July-August ? Or the axie community growing from a few players to thousands.

Big franchise products have entered the space such as NBA (NBATopShot), F1(Delta Time), MLBC and many more are coming.

Paypal and other traditional finance giants have entered the crypto sphere. It feels like a perfect storm for assets like BTC and ETH. The price surge has been as organic as it can be.

Not a great year for the world overall but one thing is for sure, people will have some fucked up stories to tell from 2020, maybe that still doesn’t make the year likable but it makes it….something.

What is coming for 2021? Great and exciting things for our NFT community and you can be sure you will read all about the coolest stuff on our 52 upcoming issues!

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EMatPalaceDublin

Eclectic Method

Copyright Stories

I started making video remixes in 1997 and started Eclectic Method in 2002. During that time I've made lots of unauthorized remixes but also a lot of authorized ones. I've worked on a lot of great projects and collaborated with artists like Chuck D and Donald Glover. I've also had a lot of big projects that nearly happened but were tied down in legal red tape.

MontageStudio

In 2008 I made video remixes of The Temptations for Motown. Motown had wanted to do a bigger project but were unable to clear the video footage needed. When Motown artists were performing in the 60s and 70s music videos didn’t exist so all the recorded performances were from shows like the Ed Sullivan show. Clearing the video clips from these shows was deemed too costly and time consuming and the project was scrapped.

Some very cool people at BBC America asked me to make an entire Audio-Visual performance using just clips from 50 years of the TV Show “Doctor Who”. I made the show and performed it at SXSW and twice at different Comic-cons and also online. BBC in the UK were celebrating the anniversary of Doctor Who and wanted me to perform the show on BBC2. They spoke with their legal team and realized they would have to clear every single video clip in my performance and there were well over 1,000 of them.

dr_who

I made a remix of the Wolf of Wall Street Chest Thump scene that did really well. I never switch advertising on on YouTube but sometimes the film companies themselves put adverts on my remixes. I think my Wolf remix has made the film company at least $30,000. A Dance record label owned by the film company approached me to do the remix officially. Though they were able to clear the audio sample they weren’t able to clear the movie clip and suggested re-doing the video with puppets and I declined.

In 2003 I went to MTV Europe with the first ever Eclectic Method CD-ROM, we were putting things on CD-ROM back then. The people at MTV were so excited they said they would put it on MTV the next week but called later that day to say they’d spoken to their lawyers. Apparently although MTV could play music videos in their entirety they could not re-edit them out of context. It then took a few years before the idea got off the ground as MTV Mash. MTV Mash had a huge legal team that had to work on clearing the rights to 8 remixes for every 1 that got broadcast because the legal work was so complex. I did one Busta Rhymes remix that didn’t even use the instrumental music but they had to clear the instrumental sample just to be on the safe side.

However these unauthorized remixes have lead to great things.I was part of the Copyright Criminals Documentary which lead to me making a song with Chuck D and performing with him and the Funky Drummer Clyde Stubblefield at many shows and on Jimmy Fallon’s late night TV Show. I’ve had a lot of unauthorized remixes be embraced and shared by the people I remixed people like Anthony Bourdain, Sarah Silverman, Casey Neistat, Juliette Lewis, Gordon Ramsey and many others. I even made an unauthorized remix of Fatboy Slim and when he saw it he paid me and put it on his DVD. Though I am still remixing I’m more focused on making totally original video musical art now so I can spend less time talking to lawyers.

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$COVER HACK

What better way to end 2020 than with another hack!

Cover Protocol, the peer-to-peer insurance company, was exploited by a hacker on Monday Dec. 28, 2020. The hacker was able to exploit a bug in the protocol’s smart contract and minted 40 quintillion tokens. The hacker then liquidated around $4 million using 1inch exchange to access all DEXs.

After shitting their pants from realizing what happened, Cover tweeted out:

panic

Once Cover cleaned up the mess they made in their pants, they began cleaning up the mess the hacker made with their token and announced on their Discord, “The Blacksmith farming contract has been exploited to mint infinite $COVER tokens. We have restricted minting access to the farming contract in order to stop the attacker. If you are providing liquidity for $COVER token (uniswap or sushiswap) please remove it immediately.” That’d be nice if there was any liquidity left to remove.

 

The exploit resulted in COVER’s value to plummet 99%.

cover_hack

Hours after the exploit was reported, Grap Finance took responsibility for the exploitation, and left a note for all to see on a tweet and in the input data of the ETH transaction,

“Next time, take care of your own shit.”

Grap Finance returned all the liquidated funds after realizing the opportunity he was presented with.

Hackerman comes forward

The question is, was Grap Finance acting as a Chad or using this exploitation to pump its bags? The GRAP token spiked by about 5,000% reaching around $0.72, right after Grap Finance claimed responsibility for the exploit.

New Year, New Cover,
Introducing Cover 2.0

grap_finance

Cover Protocol came out with a compensation plan for token holders affected by the exploit. Cover said, “The snapshot will be taken at block 11541218, one block before the first major exploited mint.”

According to the compensation plan, token holders will receive a new COVER coin on a one-to-one ratio and liquidity providers on CEX’s will also receive new COVER tokens. This compensation rekts all the traders that bought tokens after the exploitation happened making their coins as worthless as $RIFT/$DARKM… “Adios Monies”

Binance also announced a compensation plan for Binance users that were affected by the exploit. Except this compensation plan is mainly for people who traded COVER after the snapshot, and Binance has allocated $10 million to this compensation.

This exploit brings new life to the discussion of the need for Defi insurance. More importantly, can you insure insurance coins? Maybe we should ask Hugh Karp from Nexus Mutual in our next interview or wait…is he too busy still trying to get his own money back?

If we learned anything from 2020, what is the point of insurance coins if they just get hacked?

andre
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The Shameless Shilling

JOYWORLD

JOY-1

Hello friend! My name is John Orion Young. You may know me as JOY from JOYWORLD!

JOYWORLD is a place in virtual space where everyone and thing is conspiring to make you feel JOYful and creative. Hopefully it gives you pronoia when you experience it. This is like the opposite of paranoia. We flip a switch in your mind and you begin to think everything in life is conspiring to work out in your advantage.

JOYs are the beings from JOYWORLD. Each JOY is a 1:1 muse with magical powers who can be traded on the Ethereum Blockchain.

When you own a JOY, you inherit its magic powers. Some JOYs also create JOYtoys and can earn ETH for the JOY Collector who possesses that JOY.

JOYWORLD-Party-JOYs
JOYandPPP

JOYtoys are limited edition objects created for JOYs and humans.

They are made by me - JOY, JOYs, JOY Collectors, and other friends and artists who love JOYWORLD.

NFT42 built the JOYtoy Machine contract. This contract enables an original to be created and uploaded into the JOYtoy Machine.

JOY Collectors can go to the machine and make their own JOYtoys any time they are still available. This JOYtoy contract is very rad!

Here are some of the capabilities:

JOYtoys

User Self-Minting (the JOYtoy Machine)

Open or Capped Numbered Editions

Batch Minting for JOY

Multidimensional, Multi-File Support hosted on The Interplanetary File System

Split Royalties for up to 5 collaborators at the point of sale

Royalty splits for JOY Collectors when they are the owner of a JOY that makes a JOYtoy

On-Chain Royalties (that we are trying to get platforms to respect)

On-Chain Metadata

Original Artwork is Owned by the Smart Contract

Variable Pricing (in case ETH gets too high, we can bring a JOYtoys price down)

Some of these seemingly simple things, open an entire world of new possibilities and opportunities in JOYWORLD and this is really just the beginning.

The Multidimensional, Multi-File Support is a very exciting development! Each JOYtoy has a bucket of files. Currently, 500x500 Animated PNG, 2000x2000 PNG, USDZ, GLB, 500x500 GIF, and up to 20 in total can be added.

The idea here is to openly provide everyone the files to add them into their experiences and worlds. A JOYtoy collector can access a still image, animations, and augmented reality (JOYvision) files today and will be able to access more in the future.

The lessons learned with the JOYtoy contract will be migrated over to the next version of the JOY contract. In 2021 we will most likely fork the JOY contract for a second time and expand the capabilities of JOYs and their JOY Collectors + many more surprises!

DoubleJOYxxBunnies®-with-the-LuckyFuzzy®-keychain

JOYWORLD is here to help you feel JOYful and creative. It is my mission to explore these creative avenues to liberate our collective creativity. My hope is that JOYWORLD inspires you to create your own verse in this ever expanding meta!

Peace, Love, JOY!

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