• Tue. Apr 23rd, 2024

Assessing Most Recent NFTs, AI, and Metaverse Developments: NVIDIA & ApeCoin in Play

Megan Ford

ByMegan Ford

Mar 27, 2023
  • NVIDIA Focuses on Artificial Intelligence
  • Votes opposing Additional NFT Collections in the ApeCoin’s Clique
  • Investigating NFT Holdings’ Multi-Link Capacity in the Metaverse

NVIDIA’s chief technology officer (CTO), Michael Kagan, reportedly stated that he believes cryptos don’t offer anything worthwhile to society. This claim is interesting since it was implemented immediately following NVIDIA’s chief executive officer (CEO) at GPU Technology Conference (GTC) 2023. It addressed AI’s significance, suggesting AI constitutes the most important part of computing.

Kagan recently shared his opinion, saying that the primary reason why individuals used NVIDIA’s GPUs in mining was that cryptos demanded a lot of simultaneous processing capacity. Kagan accepted that the business profited from this but did not consider it to benefit society.

Kagan contends that applications like ChatGPT, which uses artificial intelligence, use NVIDIA’s processing capabilities better. He stated that it could be more lucrative to mine cryptocurrency with GPUs. Jensen Huang, the CEO of NVIDIA, revealed at GTC 2023 how he handed the very first special-purpose supercomputer to the OpenAPI organization, which would operate servers belonging to ChatGPT.

The relationship between NVIDIA and cryptocurrency mining needs to be stronger. While the business made an effort to restrict its customers from employing its GPUs or gaming devices during mining, it did introduce a series of graphics cards named NVIDIA CMP that were specifically made for mining.

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NVIDIA observed an increase in income during the mining boom after introducing low hash rate (LHR) cards, and several of its key partners covertly sold GPUs to significant crypto users. The SEC fined the business $5.5 million for failing to inform investors of the revenue generated by its GPU mining operations.

As there was an excess of inventory because of the tremendous demand for GPUs at this time, some quarters have returned to normal. Prices for graphics cards also soared.

Votes Oppose Additional NFT Collections in ApeCoin’s Clique

The ApeCoin community rejected the plan to launch two additional non-fungible tokens (NFT) collections, Ape Coin Pet Club and Ape Coin Armory Club.

The plan, which offered to give away 20,000 NFTs for each collection to the cryptocurrency community without charge at a projected price of $168,000, was rejected by the ApeCoin decentralized autonomous organization (DAO). Just 10.01% of voters from the total approved the idea, compared to 83.95% who opposed it.

Owing to its interlinked structure, the suggested NFT sets Ape Coin Pet Club and Ape Coin Armory Club. It could be connected with other metaverse and NFT initiatives such as The Sandbox, Decentraland, and Otherside. The idea indicated, among other possibilities, that the NFTs might have been used in the 3D sector of other cyberspace initiatives.

NFT-based images bearing the ape emblem on a shield and the animals which would be part of the Ape Coin Pet Club were displayed in the proposal. According to the suggestion, every NFT across both sets was distinctive in its own right, and some had more unique qualities than others.

Investigating NFT Holdings’ Multi-Link Capacity in the Metaverse

The Bored Ape Yacht Club’s (BAYC) organizer, Yuga Labs, has revealed the names of the event’s captains. In the virtual competition, the four captains— Cordell Broadus, Brycent, Jimmy Wong, and Lowbellie—led four different teams, giving 10,000 Otherdeeds NFT custodians a chance to check out the Otherside metaverse. With nearly 7,200 players playing at once, the event was a success.

NFTs continue attracting investors, and Bitcoin non-fungible tokens are becoming more well-known. Recently, Yuga Labs auctioned off its first collection of Bitcoin-established NFTs, dubbed Bitcoin Ordinal, and made $16.5 million only in a day. TwelveFold, one of the collection’s assets, was sold to the highest contender in the auction for more than 7 BTC.

Megan Ford

Megan Ford

Megan Ford is an accomplished news writer with a talent for capturing the essence of a story. With a keen eye for detail and a dedication to accuracy, her articles provide readers with a captivating and well-rounded perspective on current events.

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