Swapp's Weekly Roundup - Dec. 13th-20th
Swapp’s Weekly Round-Up For The Week of December 13th, 2021.
The world of cryptocurrency moves fast, and there are dozens of stories published every day. Keeping up with all of it would be a full-time job! So, we’ve decided to keep an eye out for what we feel are the most relevant, interesting, or fun crypto and crypto-adjacent stories and provide our readers with a weekly round-up. This is your round-up for the week beginning Monday, December 13th, 2021.
A Letter From the Team
We’ve been quiet… but that’s changing.
Many of you have noticed that we’ve been conspicuously absent from Discord. We own the fact that we’ve neglected one of the most important parts of Swapp - our community. Our team and our products have grown exponentially in the last several months, yet we were still operating like the small-but-mighty group that initially launched our token. More people, more products, and insufficient structure and process meant our team was strained by the volume and pace of work that needed to be done. As a result, we lost focus on keeping our community informed and engaged. We regret this.
To fix this we spent the last week working with consultants and brought in additional advisors to ensure that we’re structured properly for the growth we’re experiencing, and responsive to the community as a whole. We’re excited about the changes we’re already seeing internally, and we look forward to proving to everyone who’s been engaged with our Discord, Telegram, or Twitter that we hear you, and we’ll have a much stronger presence in the community going forward.
The Swapp Team
Ooof, there are mistakes, and then there are mistakes. NFT owner Max listed his Bored Ape NFT for sale on OpenSea Saturday. Only Max made a tiny yet colossal error, costing him hundreds of thousands of dollars. He meant to price the Ape at 75 ether, about $300,000, but instead listed it as 0.75 ether or about $3,000.
Max proclaims himself a “solo traveler, bored ape (I have no idea what he means by that either), marketing agency owner, and NFT investor. Perhaps Max should add proofreader to his list of professions going forward. A more clever person created a bot programmed to find things priced undervalue, and the clever little bot snapped that sucker up before Max could fix his mistake.
Max doesn’t have any recourse. The money is gone, and someone got one of the highly valuable and much sought-after Apes for a song.
We’ve highlighted a few stories about the world of fashion, finding various ways to cash in on NFTs, including creating virtual items for virtual worlds. And now Nike is getting in on the game. Nike just bought RTFKT Studios, a company that creates virtual sneakers and collectibles.
The company’s February collaboration with FEWOCiOUS, a teenage artist, to sell real sneakers and matching virtual ones sold 600 pairs in six minutes, netting more than $3 million. This is the kind of world Nike is hoping to enter, calling RTFKT Studios, which was only founded in January 2020, “a leading brand that leverages cutting edge innovation to deliver next-generation collectibles that merge culture and gaming.
Watch for the next NFT crossover. The world of sports has been an early NFT champion and adopter, so you can bet you’ll be seeing NFT Air Jordans any day now.
The south and rustbelt are littered with long-abandoned mills and factories. They blight the communities where they’re located and can be dangerous as they often become shooting galleries for squatters. Could cryptocurrency mining be a solution? It will be in one rustbelt town.
A former paper mill in Coshocton, Ohio, is being transformed into a co-mining facility by Standard Power. The company is demolishing what’s left of the abandoned mill to clear space for 34 additional shipping containers, the “offices” where the mining takes place. Standard Power is also working on refurbishing an existing substation on the site that will provide additional energy to the site and the city.
Customers provide the miners, and Standard Power provides the electricity, a secure network, and around-the-clock monitoring. Standard Power is undertaking a similar project to another nearby city, Conesville, bringing jobs and clearing blight for another hard-hit former industrial town.
Imagine waking up, grabbing your coffee, and checking on your crypto portfolio only to discover you became a billionaire overnight! That’s what happened to some disbelieving investors when the meme coins they bought for fun were up, in some cases millions of percentage points on Coinbase.
As you would expect, and hopefully, they realized before quitting their jobs, it was a massive glitch. Podcasters Chris Messina saw his account balance sitting at $479 billion! News spread quickly on Twitter, so Coinbase released a statement:
“We’re aware some customers are seeing inflated values for non-tradeable crypto assets on Coinbase. This is a display issue only and does not impact trading.”
The display issue was quickly resolved, leaving a few sad temporary billionaires to cry into their coffee.
Were you on TikTok doing the Kiki Challenge prior to October 1? Are you a US resident? If so, TikTok may owe you some money as part of a $92 million class-action settlement alleging the social media site collected and shared personal data from users with third parties without the users’ consent.
You won’t be getting much, though, as the settlement applies to nearly 89 million TikTok users in the US. The suit alleged that TikTok violated state and federal law by taking and transmitting “private legally protected data.” The suit also accused TikTok of “extracting a broad array of private data” that was used to “track and profile TikTok users” for targeted ads. TikTok was also accused of collecting information from users’ unpublished draft vides in an amended complaint. So TikTok has your Kiki Challenge outtakes too!
How much money each claimant will receive depends on how many who are eligible to receive payouts file for their share.
Many of us are concerned about our online privacy and take steps to secure it. But what about our privacy when we’re out and about in the world? Scott Urban has a solution for us. Urban has created sunglasses called Reflectacles designed to protect us from digital surveillance.
Urban has been a sunglasses designer since 2005 and recently became interested in privacy issues. This interest prompted him to create a new line meant to confuse or block various forms of electronic surveillance.
The basic IR-Pair model has lenses that will block infrared radiation that make the eyes unreadable to infrared cameras and facial recognition technology that converts infrared data or heat signatures into electronic images. The Phantom has the same IR lenses, and a layer of reflective material distorts the heat signature of the wearer’s face. The Ghost reflects visible and infrared light, concealing the wearer’s privacy in flash photos and videos.
Reflectacles look like ordinary sunglasses and come with light or dark IR lenses. The glasses range in price from $48 to $188 and can be ordered with prescription lenses.
The Swapp Team