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6 Must-Read Tips For Better NFTs and NFT Trading and Investing in 2022

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NFTs experienced a significant boom in 2021. In this article, we will cover the details you need to pay attention to when investing in NFTs in 2022.

Anonymous  team

The original NFT Bill of Rights warned about anonymous artists and extended it to the Anon or “unoxxed” teams. Some or part of the team may be exposed for a myriad of reasons, but at least 50% of the team should be fully exposed and discoverable on social media and elsewhere.

  • Moreover, just because a person has a picture on the site does not mean that the person exists.
  • These could be stock photos or AI / ML generated images such as: This person does not exist.
  • You can click Update to see an example. Learn more about our position on anonymity.

Fake accounts and fake followers

Today, buying an old established Twitter account, or even buying a follower, has never been easier. Not only check the Twitter account of the project you are investigating, but also check the Twitter account of “Team” behind the team.

Currently, there are some warning signs.

Account is too old (older than NFT), and it is probably a renovated account of NFT. If you have a large one for the Twitter account, run through Twitter audit and check the tampering of the trailer.

In addition, mismatch bots are incredibly difficult.

Bots we saw an example where users can set up 20 frauds in a few minutes in WLS. This is a service that is easy to create an unnecessary account for people who are easy to create an unwanted account. (such as loop WGMI, GM).

Expensive (or free) coin awards

More and more projects start with NFT premium price tags. Current hype discourages price discovery and allows authors to charge more original coin prices than before.

This is fine for a particular project, but always be careful.

If you feel it isn’t right, the project isn’t worth pursuing. In particular, a checkmark in any of the other boxes indicates that it is a dangerous project.

In addition, free mint has fewer and fewer successful tactics for projects.

Some scammers have found that they can publish their semi-polished websites for free with a little effort. Once the project gains momentum and excitement, the project can generate 100500 ETH volumes, and if the project requires 10,000 ETH, it will be between 25,000 and 150,000 with little effort. (Develop smart contracts for hundreds of dollars with five.)

Limited art

Look for a wide range of artwork, properties, etc. unless the artist is specifically established (and you have a portfolio that you can check). Variety and rarity. It is important to maintain a consistent art profile and portfolio. Even if you don’t love art, or it doesn’t resonate with you, it’s worth passing.

Copy websites

The ongoing theme of high-risk projects is website design and integration. 

The copy-and-paste project began to sprout like weeds after an early version of the banana repository was found on GitHub that provided a complete NFT (Soup to Nuts) project deployment that anyone could download and edit. Today, the coordinated group offers literally many projects in one day, all with slightly different graphics or website customizations. By monitoring the projects you own, you can easily see which projects are similar to each other and avoid pitfalls. Check out the daily drops on the Drop Calendar.

Lack of innovation

The final concern about the project is about the roadmap. Are the projects on the roadmap oversized / promising? Both can be a big danger signal for the project.

The two big red flags here are 1. Does your project basically have a roadmap available? After booting, there are probably no additional utilities.

In addition, you need to be careful if your project is too promising (AAA games, Play to Earn, advanced tokenomics / staking features).

In addition, you need to have a basic understanding of securities laws and regulations in your country (because this can be a carpet in the long run).

Toxicity

Although not widely known, it is a violation of OpenSeaToS for a project builder to clean up the floor. If you do this, your project may lose things like the blue checkmark.

Also, if a project (including moderators) overwhelms valid criticism of the project, it indicates that something else may be happening behind the scenes.

Derivatives

99/100 times the derivative is sign of red flag. There are outliers, but they are not common. Blockchain makes it very easy to copy metadata, graphics, etc. and make basic changes. There are examples of derivatives that take in ideas and fuse them with something else to become truly unique (and a new creation in their own right). However, if you’re not sure, it’s worth skipping the project altogether.

Conclusion

Most projects (even if they aren’t intended for carpet) are designed to get you out of ETH. Approach a skeptical project.
surveys, team surveys, roadmaps and more. If you miss the project, there will be another 3550 tomorrow.

Do your own research and find the strategy that suits you. More importantly, scammers have the knack for investigating the latest trends and techniques in combination with the ability to exploit human nature to prey on prey (moderate agnostics).

Some final tips to keep you safer:

  • Find Your Tribe: Find a Discord Community with a solid track record of project reviews and open communication / dialogs about the pros and cons of the project.
  • DYOR: Cross-link to artists, websites, embossed sites, etc. A five-minute study can save thousands of dollars in ETH that can be lost if you accidentally emboss a rug project.
  • If in doubt, pass the project
  • Do not sign anything opened from email. (Actually, you need to send the email in a different browser than your wallet).

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What is Baby AGI: A Comprehensive Guide For Beginners

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Artificial Intelligence (AI), an omnipresent force subtly weaving through the fabric of modern life, has ushered in a new era of innovation and automation. From virtual assistants like Siri and Alexa to the sophisticated recommendation engines driving platforms like Netflix and Amazon, AI’s impact is unmistakable. A groundbreaking stride in AI’s evolution is the emergence of Baby Artificial General Intelligence (AGI), an advancement poised to reshape our existence by automating a diverse spectrum of tasks. This article delves into the essence of Baby AGI, its mechanics, and the boundless vistas it opens for application.

Introducing Baby AGI: Pioneering Autonomy and Efficiency

Laying the foundation for an era of self-sustaining AI, Baby AGI is a groundbreaking autonomous agent meticulously crafted using the Python programming language in tandem with the OpenAI and Pinecone APIs. This innovative entity possesses the prowess to independently initiate and execute tasks, effectively revolutionizing workflow dynamics. Much akin to its human counterparts, Baby AGI demonstrates the capacity to learn, comprehend, and execute tasks spanning a myriad of domains, distinguishing itself from the narrower confines of specialized AI.

Exploring Baby AGI’s Boundless Potential

While the infancy of Baby AGI’s journey is undeniable, the scope of its applications is nothing short of prodigious. From crafting literary marvels to orchestrating intricate travel plans, Baby AGI promises the ability to undertake tasks demanding a human-like grasp of context and nuance. Crucially, it is imperative to grasp that Baby AGI doesn’t supersede human intellect; rather, it serves as an invaluable tool for task automation, driving productivity gains across domains.

Embarking on the Journey: Navigating the Prerequisites

Utilizing Baby AGI mandates a trifecta of essentials:

  1. Adequate Hardware: While specific hardware prerequisites remain nebulous, a computer boasting a minimum of 4GB RAM is advised to ensure seamless operations. Optimal hardware guarantees expedient task execution.
  2. API Key Activation: Empowering Baby AGI necessitates procuring API keys from OpenAI and Pinecone. This entails simple steps for key generation.
    • OpenAI API Key Generation:
      • Access platform.openai.com, then log in or establish an account.
      • Click the profile icon, selecting “View API Keys.”
      • Create a new secret key with a designated name.
    • Pinecone API Key Generation:
      • Visit pinecone.io and access your account or create a new one.
      • Navigate to “API Keys” on the left-hand side, then proceed to generate a new API key.
  3. Stable Connectivity: Unlike offline AI tools, Baby AGI thrives on an unwavering internet connection, underscoring the need for dependable connectivity.

A Comprehensive Guide to Harnessing Baby AGI’s Potential

The journey commences by embracing the steps outlined below:

Step 1: Python Installation

Begin by installing Python, an essential programming language requisite for executing Baby AGI. Visit python.org, acquire the latest version of Python, and follow platform-specific installation guidelines.

Step 2: Acquiring Baby AGI Files

Through your terminal (Mac/Linux) or Command Prompt (Windows), input “git clone https://github.com/yoheinakajima/babyagi.git” and press Enter. This directive triggers the download of imperative Baby AGI components from the designated GitHub repository.

Step 3: Package Installation

Within the downloaded directory, execute “pip install -r requirements.txt” in the terminal or Command Prompt. This single command orchestrates the installation of essential packages, forming the bedrock of Baby AGI’s operational architecture.

Step 4: Configuration Precision

Upon successful package installation, locate and rename the “.env.example” file to “.env”. This configuration file is instrumental in establishing the operational context for Baby AGI.

Step 5: Enabling API Integration

Edit the renamed “.env” file using a text editor to input your OpenAI and Pinecone API keys. These keys imbue Baby AGI with the prowess to interact with external services, accentuating its capabilities.

Step 6: Igniting Baby AGI

Within your terminal or Command Prompt, input “python babyagi.py” and hit Enter. This catalyst sets Baby AGI in motion, ushering in its active presence and potential for interaction.

Step 7: Catalyzing Interaction

Elevate Baby AGI’s prowess by offering input that encapsulates your AI agent’s designation, the focal domain, and the inaugural task you seek to delegate. This framework defines its mission, enabling adept execution guided by your specifications.

A Glimpse of Baby AGI in Action

Illustrating Baby AGI’s potential, envision a scenario where it functions as a cyber insurance underwriter, identifying vulnerabilities primed for cyber insurance claims. Tasked with grasping cyber insurance nuances and dissecting potential linked.com issues, Baby AGI exemplifies task automation at its zenith.

Navigating Current Usage and Future Trajectories

Though yet to infiltrate commercial applications, Baby AGI captivates researchers and pioneers. Yohei Nakajima’s Baby AGI project harnesses machine learning and reinforcement learning, mirroring human growth patterns. Foreseeing the dawn of advanced educational tools and more sophisticated chatbots, the path forward entails overcoming challenges of safety and ethics.

Concluding Remark

Baby AGI crystallizes the zenith of AI evolution, steering us towards the realization of AI agents mirroring human cognition. Pioneering the realm of task automation, this nascent marvel harbors potent potential. Though in its infancy, Baby AGI pledges to empower and reshape the landscape of productivity.

(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Forbes.)

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What is Wrapped?

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red and white gift box with ribbon bow

Wrapped is a term used in the cryptocurrency industry to refer to a digital asset that represents another asset or currency on a different blockchain. This allows users to trade or use assets on one blockchain, while still retaining the value of the asset on its original blockchain.

For example, the Wrapped Bitcoin (WBTC) is an ERC-20 token that represents Bitcoin (BTC) on the Ethereum blockchain. When a user wraps their BTC into WBTC, they receive an equivalent amount of WBTC on the Ethereum blockchain. This allows them to use BTC in Ethereum-based decentralized applications (dapps) or trade BTC on Ethereum-based decentralized exchanges (DEXs) without needing to transfer the actual BTC to the Ethereum blockchain.

The process of wrapping an asset involves locking the original asset on its blockchain and minting an equivalent amount of the wrapped asset on another blockchain. The wrapped asset is then pegged to the original asset’s value, usually through the use of a smart contract. When a user wants to redeem their wrapped asset for the original asset, the wrapped asset is burned, and the original asset is released back to the user.

Wrapped assets are useful because they allow for interoperability between different blockchains and can increase liquidity and trading volumes for certain assets. They can also enable new use cases for assets that were previously restricted to a specific blockchain.

In addition to WBTC, there are many other wrapped assets, including Wrapped Ether (WETH), Wrapped Litecoin (WLTC), and many others.

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What is Wash Trading?

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Free person in washing machine

Wash trading is a practice that involves buying and selling a cryptocurrency asset for the purpose of creating the impression of greater market activity and trading volume than actually exists. It involves a trader simultaneously buying and selling the same asset to manipulate the price and create a false sense of demand and liquidity.

In the context of cryptocurrencies, wash trading is a fraudulent activity that can deceive investors and traders into thinking that a particular asset is more popular and valuable than it really is. This can lead to an artificial price increase, which can be exploited by the traders involved in the wash trading scheme.

Wash trading is typically used by unscrupulous traders and market manipulators who want to artificially inflate trading volumes or prices to attract other investors or traders to buy the asset. It is also sometimes used to manipulate prices to trigger stop-loss orders or liquidations, which can cause panic selling and create opportunities for the wash traders to profit.

Wash trading is illegal in traditional financial markets, and many jurisdictions have laws against it. In the crypto industry, some exchanges and regulators have taken steps to crack down on wash trading, including implementing monitoring tools to detect and prevent it.

Investors and traders should be cautious of assets with unusually high trading volumes, as they may be subject to wash trading. It’s important to do your own research and use reliable sources of information before investing in any cryptocurrency.

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Disclaimer: ATHCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.