⛷️ $5 Billion Found & Billionaires in Davos
Reddit's bet, lawsuit against AI ⚖️
Gm tech enthusiasts,
Since 2020, the world has witnessed a tremendous surge in wealth creation, totaling $42 trillion. However, the distribution of this wealth may not be as equitable as one would hope. According to a recent report, a staggering 63% of this wealth is concentrated in the hands of the top 1% of the population.
Let’s dive in.
Headlines 📰
Davos. ⛷️
Last week, the World Economic Forum's annual meeting in Davos brought together global leaders from the economic and political spheres to address some of the world's most pressing issues, including climate change, inflation, international confrontations, technological threats, and the potential for these issues to combine into a “polycrisis” such as resource wars caused by climate change.
Due to a lack of sufficient snowfall, skiing was not an option this year, hopefully further emphasizing the urgency of addressing climate change.
Reddit Scales. 💯
Reddit has revealed plans to utilize Nova, a scaling solution, for its Community Points rewards program. This week, the program was officially launched, allowing subreddits to activate community points to establish user reputation, function as an in-community currency, and even participate in decision-making for shared resources. In essence, subreddits are evolving into tokenized communities.
$5 Billion Found. 💰
According to a presentation made to the FTX creditor committee today, it has been revealed that half of the assets worth $181 million identified by FTX US were transferred without authorization following the company's bankruptcy filing. Additionally, FTX's restructuring team has reported identifying a significant amount of liquid assets, totaling $5.5 billion, including $1.7 billion in cash, $3.5 billion in cryptocurrencies, and an additional $300 million in liquid securities.
Lawsuit against AI Art. ⚖️
Three artists, Sarah Andersen, Kelly McKernan, and Karla Ortiz, are taking legal action against Midjourney, Stability AI, and DeviantArt for their use of the AI art-generating tool, Stable Diffusion. The artists assert that the tool infringes on the copyrights of millions of artists, raising questions about whether the AI-generated art constitutes derivative work or plagiarism.
The lawsuit claims that Stable Diffusion utilises pieces of copyrighted images without permission. However, the creators of AI art-generating tools argue that their use of existing pictures to train the AI to create new artworks falls under the "fair use" doctrine, which permits the use of copyrighted materials for transformative purposes.
Speed Round 🕺
Nifty Island added support for 3d Nouns avatars.
The first NFT drop from National Geographic didn't go quite as planned.
The official ToysRUs NFT collection coming to Solana.
Wikipedia got its first makeover ever.
Peter Thiel made $1.8B cashing out at BTC peak
OpenAI CEO Sam Altman said about GPT-4 that “people are begging to be disappointed and they will be” regarding the hype around it.
McDonalds is creating a metaverse experience for the Chinese New Year with artist Karen X. Cheng.
Tweet Check. 🐦
To Watch. 📺
New Article. 🖊
This one is not new but an updated one! Discord just acquired the Gas app - which I wrote about a while back. Here’s the updated article!
Whaat?
On Christmas morning, Molly Sampson, a 9-year-old, discovered a 5-inch long tooth from a megalodon, an extinct shark known for being one of the largest predators in history. This was not a coincidence as she has been collecting shark teeth since she was a toddler and has accumulated more than 400 of them.
-Aleyna
Disclaimer: Investing in NFTs comes with inherent risk including technical risk, human error, platform failure and more. This newsletter is strictly educational and nothing we offer is financial advice. We are not professionals or licensed advisors. Views my own and not any other company I’m affiliated with.
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Great edition thanks for sharing