Welcome back to Chain Reaction, where we unpack and explain the latest in crypto news, drama and trends, breaking things down block by block for crypto enthusiasts.
On this week’s Tuesday episode, we spoke with James Zhang, a 24-year veteran of the video game industry—first as an artist, then as a founder and investor. Founder and CEO of NFT art consultancy Concept Art House, Zhang began his career as a concept artist at LucasArts, the studio behind the Star Wars video games.
Concept Art House was launched 14 years ago with the mandate to provide art to video game companies, and during that time the company has helped ship more than 1,000 games, Zhang said. But in 2021, the company focused solely on serving customers building web3 video games, as Zhang was constantly looking for opportunities at this very intersection.
“In the past two years, we have fully converted to web3 and there is no looking back,” said Zhang.
According to Zhang, Concept Art House has worked with both creative brands looking to build a presence through web3 video games, as well as crypto-based companies with no experience in gaming and art creation. The company has worked on projects with NFT giant Dapper Labs, the company behind NBA Top Shot, and comic book creator Frank Miller, best known for writing and illustrating “The Dark Knight Returns.” Last October, it raised $25 million from investors including Animoca Brands and angels like Axie Infinity creator Jeff ‘Jiho’ Zirlin.
But despite Concept’s initial wins in web3, the crypto bear market has hit NFTs particularly hard in recent months, making its job that much more difficult. Zhang said the crypto winter has had three main effects on his business – first, low token prices have made people more cautious about which NFTs they buy; secondly, risk capital financing must last longer; and third, that new token launches are no longer the main catalyst for growth in the NFT space.
Helping artists monetize their skills on the web3 is one of Zhang’s main areas of focus today.
“We want to create a really powerful network of artists that can identify and identify who an artist is and what they’ve worked on in web2 and web3. Instead of creating one [piece of] IP, we want to create a platform that is really friendly to web3 artists,” Zhang said.
Compensation for the artists behind NFTs has been a controversial issue, with artists like Seneca, who illustrated the images for the Bored Ape Yacht Club project, speaking out about not being compensated profitably.
Zhang sees both sides of the issue, saying artists are generally both “underpaid and paid what they’re worth now,” based on market value. He thinks artists need some agency to improve their compensation and sees web3 as a tool that can help them in that process.
“Financially smarter artists who understand the community have more power. They need fewer agents, fewer intermediaries. This is a kind of blockchain promise,” Zhang said.
“I think in the future you’ll see this fork for most professional artists — do you want to try to understand more about finance, your role in it, your role in the community, your role in technology, and contribute as a highly skilled artist? Or do you just want to be really good at painting and drawing?”
You can listen to the full episode to hear more of Zhang’s thoughts on how artists can position their skills in web3, and how he thinks about intellectual property and ownership issues in the NFT world.
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Where is quantum communication used?
Quantum communication has been used for high-security networks in the financial sector. This may interest you : The enduring appeal of the self-taught artist. IDQ, working with the UK’s Colt Technologies and Services Group, implemented a secure critical support line for financial institutions and businesses in Geneva, Switzerland, using IDQ’s Cerberis QKD solution.
Where is quantum key distribution used? Quantum key distribution is only used for key generation and distribution, not for transmitting message data. This key can then be used to encrypt (and decrypt) a message with any chosen encryption algorithm, which can then be transmitted over a standard communication channel.
Does China have quantum communication?
China has created a quantum communications network in space to protect its power grid from attack, according to researchers involved in the project. Part of the grid connects the power grid in the southeastern province of Fujian, closest to Taiwan, to the National Emergency Command Center in Beijing.
Why do we need quantum communication?
Quantum communication is a field of applied quantum physics closely related to quantum information processing and quantum teleportation. Read also : We must invest in the health of Virginians. Its most interesting application is protecting information channels from eavesdropping using quantum cryptography.
How many quantum computers exist in the world?
As of June 2018, there were 11 quantum computers in the world. These computers belonged to IBM, the University of Bristol in England, the Center for Quantum Computing and Communication Technology, the University of New South Wales in Australia, and a research university. On the same subject : Moss Arts Center begins its 2022-23 season. and technology in China.
Which country has the most quantum computers? The US leads the world in quantum computing private equity, with 110 deals closed between 2016 and 2021, compared to China’s 30 deals. In 2019, Google became the first to achieve so-called quantum supremacy, or the creation of a quantum computer that can solve specific problems faster than a classical computer.
How far are we from having quantum computers?
In early 2019, IBM unveiled its first commercial quantum computer. Fast forward to January 2020 and the company claimed at CES 2020 that we are now in the decade of quantum computing (the 2020s).
Is there any quantum computer in the world?
COLLEGE PARK, Md., Feb. 23, 2022–( BUSINESS WIRE )–Today, IonQ (NYSE: IONQ) announced that IonQ Aria, the company’s newest quantum computer, has achieved a record 20 algorithmic qubits and extended its lead as the industry’s most powerful quantum computer, based on a standard application-oriented industry…
Should I join a crypto startup?
Conclusion. Crypto startups are a great source of opportunity. They can be used to raise money, make money, and even create new industries. The need for regulation is increasing, but as long as crypto companies keep this in mind, they should be able to build successful businesses.
What is a crypto startup? Startups develop cryptocurrency-based solutions as an alternative to traditional banking. Even established banks and financial institutions are increasingly opening up to cryptocurrencies. Digital banking products enable the decentralized exchange of cryptocurrencies and other digital assets.
Can you realistically make money with crypto?
Can You Make Money With Cryptocurrency? Yes, you can make money with cryptocurrency. Given the inherent volatility of cryptocurrencies, most involve a high level of risk, while others require domain knowledge or expertise. Cryptocurrency trading is one of the answers to how to make money with cryptocurrency.
Is it too late to get started in crypto?
No, you’re not too late Even some governments have decided to buy, hold and trade Bitcoins – El Salvador is the most famous example – making Bitcoin legal tender in 2021.
Is getting into crypto worth it?
Cryptocurrency can be a good investment if you’re willing to accept that it’s a high-risk gamble that can pay off, but also that there’s a high chance you could lose all your money. The prices of cryptocurrencies, including bitcoin, fell in 2022 amid a global crash in crypto prices.
What is the biggest blockchain company?
Founded in 1911, IBM is a cloud platform and cognitive solutions company—it’s also the world’s largest blockchain company. IBM has helped more than 220 companies develop blockchain applications and data management tools.
What are the top 3 blockchain companies? The Best Blockchain Companies of 2022
- Binance. Founded in 2017 by Chinese-Canadian entrepreneur Changpeng Zhao, Binance is currently the world’s largest digital currency exchange platform. …
- The base of the coin. …
- ConsenSys. …
- Twins. …
- Circuit analysis. …
- Blockstream. …
- Chainlink Labs. …
- Solana.
What is the most successful blockchain?
Ethereum. Ethereum is the best secure blockchain based secure cryptocurrency platform.
