Monday Movers 09

The first female UFC fighter is paid in Bitcoin, while SHIB gains popularity in the Philippines.

Highlights from the weekend:

  • Latin American UFC fighter accepts salary in Bitcoin for the first time
  • Traditional learning disrupted by metaverse schools
  • Web3 streaming platform hacked with $6 million stolen
  • Shiba Inu boosted after featuring in popular Philippine crypto exchange

Words of Wisdom:

“Crypto levels the playing field.”

- Chamath Palihapitiya
"I don't think we fully understand the impact that crypto has had. It's better than gold it's more divisible, easier to buy, transport and has no storage cost.”

- Mark Cuban
"We are living more and more increasingly in a digital landscape, and NFTs become assets to communicate who you are. And that's something human beings have done forever — bought things to communicate. And NFTs will be the scaled version of that."

- Gary Vaynerchuk

Finblox Performers:

The Scoop:

Web3 education is taking center stage in traditional education and shifting the realm of learning. With the dawn of Web3 platforms, access to informal and educational tools are more widely developed than ever. One of the biggest developments currently for Web3 education are on-chain programs. Some underdeveloped countries lack proper certification programs, and don't even have the means to acquire these tools. Cardano has decided to focus on improving these educational gaps in the world. They started bringing grades on-chain to over 5 million Ethiopian students, which will be recognized globally. They're also currently working on digital identities and pushing for financial inclusion for Tanzanian communities.

Web3 metaverse schools education traditional schooling cryptocurrency
Say goodbye to textbooks and say hello to Web3.

Cardano's vision is similar to many Web3 initiatives to make education accessible everywhere. On-chain learning goes a step beyond traditional learning and incorporates degrees and certifications in a trustful system. The Alter Ego group is currently working on a metaverse for cultural preservation, which will make education accessible and affordable for everyone. The only requirement to access the metaverse library is an internet connection.

Luana Pinheiro, a strawweight fighter from Rio de Janeiro - has decided to convert all of her salary in the form of Bitcoin. The famous UFC fighter recently announced her partnership with Bitwage, which is the crypto app that assists with the conversion. According to Pinheiro, she does not mind Bitcoin's volatility that much and believes that the key factor it exists is because it drives asset appreciation. She also went on to mention that "if it weren't volatile, it wouldn't go up either."

cryptocurrency crypto Luana Pinheiro UFC bitcoin
The first Latin American fighter will receive her salary in Bitcoin.

The Brazilian fighter believes she has a good understanding of inflation, coming from Brazil. She was born in 1994, during a time when the Brazilian currency Real was pegged 1:1 to the US dollar. In addition to believing in the growth of Bitcoin, she also joined her boyfriend Matheus Nicolau who previously adopted a Bitcoin Standard this past March through Bitwage too. Nicolau applauded his partner for hopping on the crypto bus alongside him.

Audius, a Web3 streaming platform - was siphoned by a malicious actor for $6 million. The act took place on the platform's decentralized governance system via a proposal, which contained the transfer of 18 million AUDIO token from the community treasury. According to Twitter, the hacker assigned himself as the sole guardian of the contract by adjusting the smart contract. The hacker's moves don't linger there, he then sells the $1.08 million on Uniswap - causing a slippage in the AUDIO token price. As a result, Audius decided to halt all AUDIO tokens and Audius smart contracts on the ETH blockchain to mitigate the damage.

“This was an exploit — not a proposal proposed or passed through any legitimate means — it just happened to use the governance system as the entry point for the attack.”

Roneil Rumburg, Co-founder and CEO of Audius

Rumburg fully believes that this was an exploit, but a blockchain investigator from Peckshield believes otherwise. The investigator claimed that the reason for the hack was due to Audius' storage layout inconsistencies. After the tweet was posted, Audius responded with a post-mortem statement - claiming that the team had developed a patch to quickly regain control before the attacker could inflict more damage. The vulnerability was mitigated within a few hours of discovery and Audius is working hard to respond to attacks more quickly and decisively.

Shiba Inu (SHIB) has been climbing steadily on the crypto ladder in the Philippines. The meme coin recently gained a spot on Coins.ph, a popular crypto local exchange. The Bangko Sentral ng Pilipinas regulates Coins.ph, the first blockchain firm in Asia to have a license as an Electronic Money Issuer and Virtual Currency Exchange (EMIVC). Coins.ph has over 18 million users and was deemed "the most established crypto brand in the Philippines."

SHIB to the moon with Coins.ph

According to a report in 2021, the Philippines is one of the fastest-growing crypto userbases in the world. Nearly 4% of the population owns Bitcoin, and with SHIB joining the equation, it'll surely soar to greater heights. SHIB still remains 15th largest in terms of market capitalization, despite its huge loss of over 85% in value late October. This week, the token's value climbed to 5% - reaching $7 billion. In order to access SHIB on Coins.ph, one will simply need to update their app to the latest version.

Blockchain Events and Conferences:

...and finally, some memes for your morning:

DISCLOSURE:

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. Charts, graphs and references to any digital assets are for informational and illustrative purposes only.

Finblox Blog is associated with Finblox - a next-generation crypto ecosystem where you can buy and earn amazing rewards on your digital assets.

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