Bitcoin News and Finance

Blockchain Firm Raises Millions From Andreessen Horowitz, Paris Hilton to Help Monetize AI Mashups

Investors led by Andreessen Horowitz have backed a company that has set out to help content creators monetize their work in the age of artificial intelligence (AI). The tech firm intends to employ blockchain technology to track remixes and mashups that have been spreading online since the invent of AI tools like Chatgpt.

Investors Pledge $54 Million to Support Story Protocol’s Plan to Help Copyright Holders in AI Age

U.S. blockchain company Story Protocol has won the support of a group of investors led by American venture capital firm Andreessen Horowitz for its plan to help content creators track and monetize their work in the times of generative AI, Bloomberg reported.

Against the backdrop of low investor interest in crypto startups, the San Francisco-based tech firm managed to raise $54 million. Among those who offered funding for its project are also Hashed, Endeavor, Samsung Next, TPG Capital founder David Bonderman, and Paris Hilton’s 11:11 media.

Besides receiving equity in Story, whose valuation was not disclosed, Andreessen has also obtained the right to buy digital tokens, if the company decides to issue such, although co-founder Jason Zhao indicated that it does not currently intend to do so.

The launch of Openai’s Chatgpt and other platforms utilizing artificial intelligence attracted millions of users to AI tools which led to a spike in remixes and mashups online, the report notes. Lawsuits filed by copyright holders have also surged in number.

In response to this trend, Story Protocol is building a blockchain-based repository of intellectual property for various types of content, including prose, images and audio, that an author would be able to register their work with and then use connected apps to sell licensing rights.

“In a year or two the level of remixed content through GenAI is going to be so much higher,” remarked Story’s other co-founder, Seung-Yoon Lee. He gave an example with a song featuring AI-generated versions of the voices of artists Drake and the Weeknd which became viral before it was shut down by Universal Music Group. At the same time, Lee also pointed out:

You can’t go and cease and desist everything.

The investment will allow Story Protocol to launch its blockchain technology in the first half of 2024, Jason Zhao noted. It comes despite a venture capital drought in the crypto space with funding for startups declining since prices of digital assets dropped last year and amid an ongoing regulatory crackdown on the industry.

Do you think crypto companies should develop more products with AI applications to attract investment? Share your thoughts on the subject in the comments section below.

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Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r

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