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YouTube channels hacked and rebranded for live-streaming crypto scams

by Donna Ryder

Google’s Threat Analysis Group (TAG) attributes the attacks to a group of hackers recruited in a Russian-speaking forum, who sell the hacked YouTube channels to the highest bidder.

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YouTube channels hacked and rebranded for live-streaming crypto scams

A new report shared by Google’s Threat Analysis Group (TAG) highlights an ongoing phishing campaign against YouTube creators, typically resulting in the compromise and sale of channels for broadcasting cryptocurrency scams.

The TAG attributes the attacks to a group of hackers recruited in a Russian-speaking forum, who hack the creator’s channel by offering fake collaboration opportunities. Once hijacked, the YouTube channels are either sold to the highest bidder or used to broadcast cryptocurrency scams:

“A large number of hijacked channels were rebranded for cryptocurrency scam live-streaming. On account-trading markets, hijacked channels ranged from $3 USD to $4,000 USD depending on the number of subscribers.”

The YouTube accounts are reportedly being hacked using cookie theft malware, a fake software configured to run on a victim’s computer without being detected. TAG also reported that the hackers also changed the names, profile pictures and content of the YouTube channels to impersonate large tech or cryptocurrency exchange firms.

According to Google, “the attacker live-streamed videos promising cryptocurrency giveaways in exchange for an initial contribution.” The company has invested in tools to detect and block phishing and social engineering emails, cookie theft hijacking and crypto-scam live streams as a countermeasure.

Given the ongoing efforts, Google has managed to decrease the volume of Gmail phishing emails by 99.6% since May 2021. “With increased detection efforts, we’ve observed attackers shifting away from Gmail to other email providers (mostly email.cz, seznam.cz, post.cz and aol.com),” the company added.

Google has shared the above findings with the Federal Bureau of Investigation (FBI) of the United States for further investigation.

Related: CoinMarketCap hack reportedly leaks 3.1 million user email addresses

Over 3.1 million (3,117,548) user email addresses were reportedly leaked from a crypto price-tracking website, CoinMarketCap.

According to a Cointelegraph report, Have I Been Pwned, a website dedicated to tracking online hacks found the hacked email addresses being traded and sold online on various hacking forums.

CoinMarketCap acknowledged the correlation of the leaked data with their userbase but maintains that no evidence of a hack has been found on their internal servers:

"As no passwords are included in the data we have seen, we believe that it is most likely sourced from another platform where users may have reused passwords across multiple sites."

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Shiba Inu (SHIB), a spin-off to Dogecoin (DOGE) token, reached an all-time high following a price surge of more than 46% in just two days. The SHIB/USD trading pair was valued highest at $0.00003941 during press time. 

The latest price jump of SHIB token is attributed to an ongoing bullish trend from Oct. 15, which helped the cryptocurrency’s value rally by more than 26%. Since Oct. 17, SHIB maintained week-long support at roughly $0.00002796 before resuming to bull run to its all-time high.

In the last seven days, Shiba Inu’s market value surged over 50% and currently stands as the 13th biggest cryptocurrency in terms of market capitalization, just three positions away from Dogecoin.

Currently, Shiba Inu holds the biggest circulating supply of nearly 395 trillion. Back in September, the Dogecoin-inspired token jumped 40% after Elon Musk, CEO of Tesla, tweeted about the arrival of a new Shiba Inu puppy called Floki.

Floki has arrived pic.twitter.com/2MiUKb91FT

— Elon Musk (@elonmusk) September 12, 2021 \n\n

A Cointelegraph analysis from Oct. 18 foresees SHIB token to target the $0.00005200 mark, determined by an expected rebound after the selloff season.

Related: Crypto is impossible to destroy, says Tesla CEO Elon Musk

The growth of Dogecoin and Shiba Inu is primarily attributed to support from Tesla CEO Elon Musk. In a recent conference hosted in California, Musk said:

“It is not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement.”

Moreover, the entrepreneur believes that the United States government should “do nothing” for regulating cryptocurrencies.

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Blockchain is rapidly becoming the innovative force industry insiders have been promising for years. The number of projects and artists offering their works using it as a core technology may be shifting the current economic model under which most musicians operate.

Non-fungible tokens, or NFTs, allow independent artists to earn income and engage with their fan base without always relying on a label or streaming service like Spotify. In March, 3LAU, an electronic dance music producer, sold more than $11 million worth of tokens redeemable for real-world goods — including music — in addition to a $3 million token holder who bid for the right to collaborate with the artist. Paul Oakenfold, another well-known EDM DJ, announced in September he would be launching a tokenized album on the Cardano blockchain.

Many venues around the world are still unable to hold live concerts due to restrictions broughton by the pandemic, and some streaming services do not offer a sustainable income for artists. Rather than shirking COVID-19 guidelines, some performers and organizers have turned to blockchain technology in the form of metaverses and NFTs for alternative solutions. In August, Epic Games’ Fortnite hosted a virtual concert with singer Ariana Grande and others.

One project claims to be revolutionizing the music space, offering music fans creative access to top artists, while wetting the palette of blockchain newbies and veterans through the merging of blockchain technology with mainstream entertainment. Animal Concerts’ fans can go to live or virtual concerts, while also retaining some control of their own content with the platform's utility tokens. NFTs also play a large role, used for virtual venue tickets, future live events, avatars for fans, and souvenirs for certain performances.

“We are at the apex of several emerging technologies, streaming, VR, metaverses and NFTs and well positioned to capitalize on this as the only one bringing it all together in one place,” said Animal Concerts CEO Colin Fitzpatrick. “For musicians this is the first new major revenue stream in a decade, and an exciting and innovative way to interact with their fans. We’re democratising concerts and bringing the power directly back to the artists themselves.”

Related: NFTs are a game changer for independent artists and musicians

Animal Concerts says its business model is focused on bringing in 100 million crypto users into the space in the next 12 months, offering a seemingly closer connection with performing artists than in-person venues have been able to provide for the non-VIPs. According to the project, there may be no limit to the number of people able to engage with musical artists by combining the best features of streaming, concerts, metaverses, NFTs, and crypto. Animal Concerts is already selling an exclusive collection of NFT tickets that incorporate a live concert and meet-and-greet with Grammy award-winning rapper Future in Miami on October 30. Other perks include roundtrip flight, beachfront hotel, bottle service, and access to the Maxim Model Lounge.

Whether blockchain technology will help revitalize the music industry as the epidemic continues to take a toll on many countries around the world remains to be seen. However, expanding consumer engagement to the virtual and offering a way to democratise the concert industry may revolutionize the space. If the more than one million people who watched Ariana Grande perform virtually in Fortnite in August is any indication, along with the $20 million she nabbed for the gig, companies like Animal Concerts may be saying “Thank U, next” to the mainstream concert industry.

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The Texas Ethics Commission proposed a new rule that permits government officials and politicians to accept Bitcoin (BTC) and cryptocurrency contributions. 

The proposal was filed with the Texas Secretary of State, which sought to address and clarify the reporting requirements of political contributions made with cryptocurrencies. According to the filing:

“The new rule permits candidates, officeholders, and political committees to accept cryptocurrency. It does not distinguish between any types of cryptocurrencies, like Bitcoin.”

If approved, cryptocurrency donations and contributions will need to be reported as in-kind contributions or as investments, not currency. According to the Commission, this move “mirrors the way the Federal Election Commission (FEC), Internal Revenue Service (IRS) and Securities and Exchange Commission (SEC) treat cryptocurrency contributions.”

The proposal clarifies that political and governmental campaigns will not be able to permitted to spend cryptocurrencies directly and will require to liquidate cryptocurrencies before spending the proceeds. However, the Commission mentioned:

“The rule would not require filers to liquidate their cryptocurrency holdings within any particular timeframe.”

In addition, the proposal plans to counter the high volatility of cryptocurrencies by directing filers to report the value of any accepted cryptocurrency as the fair market value at the time of receipt.

The legality of every crypto contribution will be determined by an affirmation that the contributor is not a foreign national. According to the filing, the new rule is proposed under Texas Government Code §571.062, which authorizes the Commission to adopt rules to administer Title 15 of the Election Code.

Related: Cryptocurrencies now recognized under commercial law in Texas

The state of Texas recently approved two house bills that promote cryptocurrency blockchain adoption.

According to a Cointelegraph report, Texas House Bills 1576 and 4474 were signed into law by Governor Greg Abbott that allows the establishment of a blockchain working group and amends the state's Uniform Commercial Code to recognize cryptocurrencies under commercial law.

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CoinMarketCap, a price-tracking website for cryptocurrencies, has reportedly fallen victim to a hack that leaked 3.1 million (3,117,548) user email addresses. 

The information came into light after the hacked email addresses were found to be traded and sold online on various hacking forums, and revealed by Have I Been Pwned, a website dedicated to tracking hacks and compromised online accounts.

CoinMarketCap, a subsidiary of Binance cryptocurrency exchange, confirmed that the list of leaked user accounts matched its userbase:

“CoinMarketCap has become aware that batches of data have shown up online purporting to be a list of user accounts. While the data lists we have seen are only email addresses, we have found a correlation with our subscriber base.”

While confirming the correlation of the 3.1 million (3,117,548) user email addresses with its userbase on Oct. 12, the company has assured that the hackers did not gain access to any of the account passwords. “We have not found any evidence of a data leak from our own servers — we are actively investigating this issue and will update our subscribers as soon as we have any new information,” CoinMarketCap spokesperson said.

Despite the confirmation, CoinMarketCap has yet to identify the exact cause of the hack. Responding to Cointelegraph's request for comment, CoinMarketCap said:

\"As no passwords are included in the data we have seen, we believe that it is most likely sourced from another platform where users may have reused passwords across multiple sites.\"

Related: Hackers exploit MFA flaw to steal from 6,000 Coinbase customers — Report

A recent hack on the Coinbase crypto exchange resulted in the compromise of 6,000 user accounts.

The attack was a result of exploiting the exchange’s multifactor authentication (MFA) system, which suggests that the hackers had access to the user’s email addresses. According to Coinbase, the attackers identified a vulnerability in the account recovery process:

“In this incident, for customers who use SMS texts for two-factor authentication, the third party took advantage of a flaw in Coinbase’s SMS Account Recovery process in order to receive an SMS two-factor authentication token and gain access to your account.”

While the value of stolen assets has yet to be revealed by Coinbase, the incident was complemented by thousands of formal complaints from the account holders against the company.

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NFT development studio Mojito announced Friday that they have raised $20M in seed funding from a number of investors including internationally known auction house Sotheby's.

According to an announcement published in Forbes, Sotheby’s auction house, in partnership with Future Perfect Ventures, Creative Artists Agency and NEA’s Connect Ventures, contributed to the round at Mojito’s estimated value of $100 Million.

The Delaware-based start-up indicated that it will use this new injection of capital to grow and develop its engineering teams, make a better version of its current NFT platform and further develop its NFT trading and investment platforms.

The NFT market has seen its total monthly sales drop from early September, though numbers have held at between $1.8 and $2.1 billion for the last month, according to nonfungible.com. The NFT market’s total monthly sales hit an all-time high of $3.7 billion on Sept. 4 after a steady rise in late July. $31 million of the current total NFT market sales comes from the sale of art-based assets.

Digital art marketplaces such as OpenSea achieved prominence during this time as well, reportedly hosting 98 percent of the market’s transactions through August 2021.

Art dealers and museums have taken notice, and are beginning to follow suit as they chase the money that is apparent in this new market. Both Sotheby’s and Christie’s auction houses have had a number of successful NFT auctions in the past year. Christie’s was the first of the two to host a global auction of an NFT.

Mojito previously aided Sotheby’s in the development of its new digital NFT marketplace, known as Metaverse.

Businessman and TV personality Kevin O’Leary, a one-time vocal opponent to cryptocurrency-based investments, recently stated his belief that the NFT market would become bigger than Bitcoin during an interview on the Pomp podcast.

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Social media platform Reddit appears to be hiring workers to support the design, build and maintenance of a nonfungible token (NFT) platform.

According to a Greenhouse job posting, Reddit is looking for a senior backend engineer for a platform responsible for “millions of users to create, buy, sell and use NFT-backed digital goods.” The position requires at least five years of experience in backend development as well as the ability “to design and implement complex distributed systems operating under high load.”

“If there is one thing we’ve noticed with NFTs, they too have an incredible power to create a sense of participation and belonging,” said the job posting.

“With every new NFT project, a vibrant community of owners pops up with it. Fans of today’s biggest creators and brands are now flocking to buy digital goods directly from them — to support them, to gain exclusive access, and to feel a greater sense of connection with them. Over time, we believe this will only grow, and NFTs will play a central role in how fans support their favorite creators and communities.”

Reddit has acted as a medium to bring together crypto users for years, with the platform’s subreddits largely responsible for pumping prices of tokens including Dogecoin (DOGE). Users can also earn the platform’s Community Points — digital currency-like tokens in the form of Moons or Bricks — by posting certain content to earn rewards.

Related: Twitter and TikTok embrace NFTs: Mainstream adoption incoming?

While some crypto exchanges have been slowly launching their own NFT marketplaces, social media platforms have also been working to support the technology, if not create a competitor to OpenSea. Social media giant Facebook hinted that its Novi wallet would likely support NFTs, and Twitter revealed in September that it was working towards allowing users to display an NFT as their profile picture.

“The NFT movement has only just begun,” said Reddit.

\n\n\n\n\n\n\n\n\n\n",audio:"https://s3.cointelegraph.com/audio/74776.79585925-1e8f-4fcd-8c1a-981c764f8388.mp3",facebookShares:d,twitterShares:d,linkedinShares:d,redditShares:d,views:5864,shares:my,tags:[{id:"113",slug:mF,title:mG,url:"/tags/reddit"},{id:aC,slug:cq,title:aD,url:ak},{id:"4358",slug:"tokens",title:"Tokens",url:"/tags/tokens"},{id:"7146",slug:"social-media",title:"Social Media",url:"/tags/social-media"},{id:hm,slug:hn,title:ho,url:fr}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=74776regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:eY,isDeleted:a,isDisclaimerHidden:d,isSponsored:a,isPressRelease:a,isExplained:a,slug:"polygon-pays-2m-bounty-on-bug-which-could-have-compromised-850m-in-user-funds",url:mm,absoluteUrl:"https://cointelegraph.com/news/polygon-pays-2m-bounty-on-bug-which-could-have-compromised-850m-in-user-funds",title:hf,youtubeVideoIdCover:c,cover:mn,datePublished:eG,dateHuman:eH,humanDateTime:"2021-10-22 18:16",dateISOFull:"2021-10-22T17:16:03+01:00",publishedDateTimeObject:{year:y,month:u,day:ao,hour:eJ,minute:eF,second:r,millisecond:f},categorySlug:af,categoryUrl:ag,categoryName:ah,authorName:f_,authorUrl:f$,authorAvatar:hl,previewText:"The white hat hacker speculated that the bug might have been created from \"using someone else’s code and not having a 100% understanding of what it does.\"",twitterLeadText:"The largest bug bounty reported prior to this incident was roughly $1M",badgeSlug:j,badgeName:ai,fullText:"

White hat hacker Gerhard Wagner has earned $2 million after reporting a solution to a potentially costly “double-spend” bug on the Polygon network.

In an Oct. 21 blog post from Immunefi, a security service that helps facilitate bug reports in decentralized finance projects, Polygon network’s Plasma Bridge was at risk of having $850 million removed by a knowledgeable hacker. According to the project, the vulnerability would have allowed attackers to exit their burn transaction from the bridge up to 223 times, quickly turning an amount like $4,500 into $1 million profi.

Immunefi reported the double-spend exploit worked by first depositing Ether (ETH) through the Plasma Bridge and starting the withdrawal process after the transaction was confirmed. A hacker could then wait a week and resubmit the same withdrawals with the exception of \"a modified first byte of the branch mask.\" Provided the hacker was able to begin with $3.8 million, they could have potentially depleted all $850 funds from the bridge’s deposit manager at the time.

Polygon agreed to pay its maximum amount for a bug bounty report — $2 million — following Wagner’s initial report on Oct. 5. According to the platform, the bug has already been deployed on the mainnet after testing, Wagner has received the funds, claimed to be “the highest bounty ever paid out in history,” and no user funds were lost with the exploit.

Wagner speculated on his Medium page that the bug might be due to “using someone else’s code and not having a 100% understanding of what it does.” He added the solution was “not very elegant” but did fix the double-spend exploit.

Related: White hat hacker paid DeFi’s largest reported bounty fee

Before this latest $2 million payout, the largest bounty for a white hat hacker had gone towards programmer Alexander Schlindwein, who in September discovered a vulnerability in Belt Finance’s protocol and was awarded $1.05 million. However, the U.S. Department of State may topple that record if a hacker is able pass on information on terrorist suspects, extremists and state-sponsored hackers — the government said it would be offering rewards of up to $10 million.

\n\n\n\n\n\n\n\n\n\n\n\n",audio:"https://s3.cointelegraph.com/audio/74761.237d169e-5014-48ba-881c-a1cc227f7be4.mp3",facebookShares:d,twitterShares:d,linkedinShares:d,redditShares:d,views:8085,shares:219,tags:[{id:aC,slug:cq,title:aD,url:ak},{id:gV,slug:gW,title:gX,url:gY},{id:mH,slug:mI,title:mJ,url:mK},{id:"9415",slug:"defi",title:ht,url:hu},{id:"9577",slug:"polygon",title:"Polygon",url:"/tags/polygon"}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=74761regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:fX,isDeleted:a,isDisclaimerHidden:d,isSponsored:a,isPressRelease:a,isExplained:a,slug:"hilbert-group-forms-coin360-jv-with-cointelegraph-and-chiron-partners",url:mo,absoluteUrl:"https://cointelegraph.com/news/hilbert-group-forms-coin360-jv-with-cointelegraph-and-chiron-partners",title:hg,youtubeVideoIdCover:c,cover:mp,datePublished:eG,dateHuman:eH,humanDateTime:"2021-10-22 17:30",dateISOFull:"2021-10-22T16:30:00+01:00",publishedDateTimeObject:{year:y,month:u,day:ao,hour:eF,minute:gb,second:f,millisecond:f},categorySlug:af,categoryUrl:ag,categoryName:ah,authorName:fs,authorUrl:hv,authorAvatar:"https://s3.cointelegraph.com/storage/uploads/view/8ad504119f606b2b8f4fece56680108f.jpg",previewText:hh,twitterLeadText:hh,badgeSlug:j,badgeName:"Announcement",fullText:"

Sweden-based Hilbert Group AB, United States-based Cointelegraph and Asia-based investment group Chiron Partners will join forces to launch a new business of COIN360. Under this joint leadership, COIN360 will expand its product suite to become a full-service market data provider covering the full spectrum of digital assets — including decentralized finance (DeFi), nonfungible tokens (NFTs) and security token offerings — for both institutional and retail traders.

Under the new arrangement, COIN360, the crypto market data provider with 4 million monthly visits known for its iconic heatmap, will become a joint venture of the three parties.

Hilbert Group AB, which will list on Nasdaq First North on Oct. 27, is now the majority owner of COIN360, with 60% of the shares.

“Given the large volume of monthly visitors, COIN360.com has the potential for significant revenue, not least from advertisements and SaaS,” said Niclas Sandström, co-founder and CEO of Hilbert Group. “From this basis, the aim is to develop COIN360 into the world’s leading website for potential investors in cryptocurrencies.”

The investment in COIN360 will enable Hilbert Group — which employs a highly data-driven, mathematical approach to cryptocurrency trading — to rapidly build up another business area: the sale of information and data in the crypto field.

Sandström added: “In the crypto segment, Hilbert Group is aiming to build up an offering similar to the one currently provided by Bloomberg in the traditional asset classes. We believe that we can establish profitable sales of data and analysis services relatively quickly. Those who want to achieve long-term success in cryptocurrency trading must have access to reliable data and quality analyses. We believe that such a sufficiently high-quality service is currently lacking, but we plan on filling this gap in the market.”

Sean Hung, CEO of Chiron Partners, said: “We are delighted to partner with Hilbert Group to further grow COIN360. With the partnership, we aim to build a professional, trusted and reliable market data service offering for all digital asset players. Combining both Hilbert Group’s and our expertise and network, we believe it will definitely accelerate the growth of COIN360 to become one of the most trusted digital asset data providers.”

Jay Cassano, CEO of Cointelegraph, said: “COIN360’s heatmap is one of the most iconic fixtures on every crypto trader’s desk. From a brand perspective, this is a natural partnership for Cointelegraph, with our similarly recognizable and beloved art style. I look forward to helping develop COIN360’s data offerings so that we can best inform our readers.”

About COIN360

COIN360 is a cryptocurrency and crypto exchange live data aggregator. COIN360 delivers vital market data in a visually engaging manner. Whether you are a professional or novice trader, media outlet, or just crypto curious, COIN360 offers indispensable tools to stay updated on the latest cryptocurrency market movements.

Hilbert Group is a crypto investment and data analysis firm. Hilbert Group was founded in late 2018 by PhDs in theoretical physics as well as investment banking and hedge fund professionals. The firm is involved in four verticals: asset management, proprietary trading, venture capital investing, and data and analytics. Hilbert Group applies rigorous risk management, quantitative analysis and algorithmic methods to the fast-growing crypto space. With proprietary volatility-harvesting trading strategies, Hilbert Group thrives in the highly volatile environment offered by the crypto market.

Chiron Partners is a leading Asian investment group that focuses on high-growth investment opportunities globally, with expertise in blockchain and late-stage technology companies. In addition to capital, the group strives to support its portfolio companies with its network of talent, investors and marketing resources in order to drive growth and returns.

Cointelegraph is the world’s largest independent digital media outlet covering a wide range of news on blockchain technology, crypto assets and emerging technological trends. Since 2013, Cointelegraph has delivered the most accurate, up-to-date news from both the decentralized and centralized worlds.

\n\n\n\n\n\n\n\n\n\n\n",audio:"https://s3.cointelegraph.com/audio/74757.e0d032f5-9060-4bdd-b193-59fec76ea977.mp3",facebookShares:d,twitterShares:d,linkedinShares:d,redditShares:d,views:2159,shares:fQ,tags:[{id:gQ,slug:gR,title:gS,url:gT},{id:aC,slug:cq,title:aD,url:ak},{id:"2014",slug:"markets",title:mL,url:"/tags/markets"},{id:"3670",slug:"press-release",title:"Press Release",url:"/tags/press-release"},{id:"9421",slug:"trading",title:"Trading",url:"/tags/trading"}],topics:[],relatedPosts:[],trackingPixelUrl:"https://zoa.cointelegraph.com/pixel?postId=74757regionId=1",showShares:b,showStats:b,isNoIndex:a},{id:fY,isDeleted:a,isDisclaimerHidden:d,isSponsored:a,isPressRelease:a,isExplained:a,slug:"crypto-platform-rally-commits-12m-to-third-party-developers",url:mq,absoluteUrl:"https://cointelegraph.com/news/crypto-platform-rally-commits-12m-to-third-party-developers",title:hi,youtubeVideoIdCover:c,cover:mr,datePublished:eG,dateHuman:eH,humanDateTime:"2021-10-22 17:00",dateISOFull:"2021-10-22T16:00:00+01:00",publishedDateTimeObject:{year:y,month:u,day:ao,hour:eF,minute:f,second:f,millisecond:f},categorySlug:af,categoryUrl:ag,categoryName:ah,authorName:"Sam Bourgi",authorUrl:"/authors/sam-bourgi",authorAvatar:"https://s3.cointelegraph.com/storage/uploads/view/410cc37c638a4a9e6a3868bad2dfb591.jpg",previewText:"The ecosystem is gaining momentum as demand for nonfungible tokens and blockchain-based social communities continue to grow. ",twitterLeadText:"RLY tokens are up for grabs: crypto-social platform Rally has allocated $12 million to external developers through a new grants program. ",badgeSlug:j,badgeName:ai,fullText:"

Crypto-social platform Rally has earmarked $12 million for external developers to improve the functionality of the ecosystem, potentially setting the stage for new innovations that would benefit creators. 

The grants program will be distributed through RLY tokens, the native cryptocurrency of the Rally ecosystem, the company announced Friday. A community-elected developer council controls $5 million worth of RLY, giving it considerable sway over which types of bounties and rewards get distributed.

Prior to establishing the new program, Rally awarded third-party developer grants to Bonfire, MintGate and David Young, the creator of the PLAY coin, which is built on Rally.

Rally enables creators and artists to launch their own cryptocurrency and establish independent communities directly on the platform. When asked about what types of third-party development work the company would like to support, Rally vice president Stephanie Pereira said, “we are focused on what would benefit creators the most right now.” The first three recipients have added value in numerous ways, such as developing an airdrop protocol, integrating social tokens into web-based games and developing customized widgets.

Pereira singled out social tokens and nonfungible tokens (NFTs) as two areas requiring more development work in the future. She explained:

“Social tokens and NFTs are still relatively in their infancy stage, but as more creators lean in and experiment, we’re seeing the need for countless new products and eager to partner with more developers.”

Related: Crypto social governance will lead to online freedom

The NFT market has exploded in popularity over the past year, becoming one of blockchain’s most popular use cases. NFT sales reached a whopping $10.7 billion in the third quarter, shattering all previous records, according to data from DappRadar.

Activity around social tokens is also on the rise. As Cointelegraph recently reported, social token infrastructure provider Roll recently concluded a $10 million Series A investment round with backing from IOSG Ventures, Huobi Ventures and others.

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b",open:40.72,openFormatted:"40.72",high:43.74,highFormatted:"43.74",low:40.46,lowFormatted:"40.46",volume24hour:828664442.2899406,volume24hourFormatted:"828.66 m",coinTradeVol:dX,coinTradeVolFormatted:dY,supply:dZ,supplyFormatted:d_},{id:as,name:bV,label:bW,url:bX,value:lN,valueAltDesktop:lN,valueAltMobile:lN,changePercentage:iG,changeForWeek:6.25,changeForWeekFormatted:"+6.25%",changeForMonth:21.01,changeForMonthFormatted:"+21.01%",isUp:b,isDown:a,isVisibleOnDesktop:a,isVisibleOnMobile:a,mktcap:10040454802.025272,mktcapFormatted:"10.04 b",open:1.06,openFormatted:td,high:1.151,highFormatted:"1.15",low:1.056,lowFormatted:td,volume24hour:306140909.1092269,volume24hourFormatted:"306.14 m",coinTradeVol:d$,coinTradeVolFormatted:ea,supply:eb,supplyFormatted:ec},{id:R,name:bY,label:bZ,url:b_,value:fi,valueAltDesktop:fi,valueAltMobile:fi,changePercentage:jo,changeForWeek:1.88,changeForWeekFormatted:"+1.88%",changeForMonth:2.04,changeForMonthFormatted:"+2.04%",isUp:a,isDown:b,isVisibleOnDesktop:a,isVisibleOnMobile:a,mktcap:208047913278.91052,mktcapFormatted:"208.05 b",open:gK,openFormatted:gL,high:6.128,highFormatted:tc,low:gK,lowFormatted:gL,volume24hour:16464082838.94369,volume24hourFormatted:"16.46 b",coinTradeVol:ed,coinTradeVolFormatted:co,supply:ee,supplyFormatted:ef},{id:b$,name:ca,label:cb,url:cc,value:lO,valueAltDesktop:lO,valueAltMobile:lO,changePercentage:"+3.25%",changeForWeek:7.92,changeForWeekFormatted:"+7.92%",changeForMonth:27.19,changeForMonthFormatted:"+27.19%",isUp:b,isDown:a,isVisibleOnDesktop:a,isVisibleOnMobile:a,mktcap:31598084516.666782,mktcapFormatted:"31.60 b",open:1.163,openFormatted:ff,high:1.266,highFormatted:"1.27",low:qM,lowFormatted:ff,volume24hour:166511011.02354273,volume24hourFormatted:"166.51 m",coinTradeVol:eg,coinTradeVolFormatted:eh,supply:ei,supplyFormatted:ej},{id:cd,name:ce,label:cf,url:cg,value:lP,valueAltDesktop:lP,valueAltMobile:lP,changePercentage:"-2.17%",changeForWeek:12.3,changeForWeekFormatted:"+12.30%",changeForMonth:-9.27,changeForMonthFormatted:"-9.27%",isUp:a,isDown:b,isVisibleOnDesktop:a,isVisibleOnMobile:a,mktcap:50109130744.21842,mktcapFormatted:"50.11 b",open:215.78,openFormatted:"215.78",high:233.13,highFormatted:"233.13",low:212.67,lowFormatted:"212.67",volume24hour:3604254586.613356,volume24hourFormatted:"3.60 b",coinTradeVol:ek,coinTradeVolFormatted:el,supply:em,supplyFormatted:en},{id:ch,name:ci,label:cj,url:ck,value:lQ,valueAltDesktop:lQ,valueAltMobile:lQ,changePercentage:"-8.18%",changeForWeek:10.14,changeForWeekFormatted:"+10.14%",changeForMonth:14.83,changeForMonthFormatted:"+14.83%",isUp:a,isDown:b,isVisibleOnDesktop:a,isVisibleOnMobile:a,mktcap:19290482139.49149,mktcapFormatted:"19.29 b",open:19.48,openFormatted:"19.48",high:21.08,highFormatted:"21.08",low:rG,lowFormatted:"18.44",volume24hour:17222114.661643542,volume24hourFormatted:"17.22 m",coinTradeVol:eo,coinTradeVolFormatted:ep,supply:eq,supplyFormatted:er}]},currencies:[{id:po,name:k,sign:pp,value:go},{id:pq,name:l,sign:pr,value:gs},{id:ps,name:m,sign:pt,value:gw},{id:pu,name:n,sign:gn,value:gA},{id:pv,name:o,sign:pw,value:gD},{id:px,name:p,sign:py,value:gF},{id:pz,name:q,sign:pA,value:gG},{id:pB,name:pC,sign:pD,value:gH},{id:pE,name:w,sign:gn,value:gJ}],graphs:{}},types:{},user:{isAuthed:a,isAuthedBySocials:a,token:h,id:h,firstName:c,lastName:c,userName:c,avatar:c,email:c,description:c,userGaId:c,ipAddress:"51.158.122.173",analyticsData:[],sessionId:c},vendors:{isVendorsModalShown:a,info:{},localI18n:{}},viewport:{isWindowActive:b,viewportWidth:f,viewportHeight:f,scrollTop:f,scrollIsLocked:a,breakpoint:"XS",isOverlayVisible:a,userDeviceType:{apple:{phone:a,ipod:a,tablet:a,device:a},amazon:{phone:a,tablet:a,device:a},android:{phone:a,tablet:a,device:a},windows:{phone:a,tablet:a,device:a},other:{blackberry:a,blackberry10:a,opera:a,firefox:a,chrome:a,safari:a,device:a},any:a,phone:a,tablet:a},bottomZoneHeight:f}},serverRendered:b,routePath:gN}}(false,true,"",void 0,2,0,"_self",null,1,"default","USD","EUR","GBP","JPY","RUR","KRW","TRY",3,4,"Language",10,"en","CNY","1",2021,"EOS","NEO","2","es","promo_button","18.88 m","https://hitbtc.com/?ref_id=5cba0be404aa3","changelly-button","adbutler",50,"xxs","xs","sm","md","lg",5,"23","13","27","7","9","4","Bitcoin","17","22","https://changelly.page.link/ct_button_1","hitbtc-button","11","bybit2-button","bbt","https://www.bybit.com/en-US/register?medium=paid_bannersource=cointelegraphchannel=mkt_campaign=600rewardscontent=en_headerbuttonterm=button",79,138,"article","latest-news","/category/latest-news","Latest News","News",23,"/tags/business","cointelegraph.com","Dogecoin",6,22,"https://cointelegraph.us3.list-manage.com/subscribe/post-json?u=2c088712615955cd2f82aa968id=7376af3992","https://cointelegraph.us3.list-manage.com/subscribe/post-json?u=2c088712615955cd2f82aa968id=aad9f6b505","21","26",48,"/bitcoin-cash-price-index","/ltc-price-index","/xrp-price-index","/xmr-price-index","_blank","Ethereum","12","1.00","414","Business","en.LanguageType.1","74776","/category/market-analysis","Market Analysis","Note that all trading strategies are to be used at your own risk. Before trading, we recommend to make sure that you have a clear understanding of cryptocurrencies and how they are traded.",51,"BTC","/bitcoin-price","ETH","/ethereum-price","3","LTC","Litecoin","XRP","Ripple","6","BCH","Bitcoin Cash","XMR","Monero","8","DASH","Dash","/dash-price-index","/eos-price-index","ZEC","Zcash","/zec-price-index","ADA","Cardano","/ada-price-index","/neo-price-index","14","TRX","TRON","/tron-price-index","15","BNB","Binance Coin","/binance-coin-price-index","16","XLM","Stellar","/stellar-price-index","USDT","Tether","/tether-price-index","18","MIOTA","IOTA","/iota-price-index","19","ONT","Ontology","/ontology-price-index","20","MKR","Maker","/maker-price-index","BSV","Bitcoin SV","/bsv-price-index","DOGE","/doge-price-index","ETC","Ethereum Classic","/etc-price-index","24","XTZ","Tezos","/xtz-price-index","XEM","NEM","/nem-price-index","USDC","USD Coin","/usdc-price-index","28","CRO","Crypto.com Coin","/crypto-com-price-index","29","ATOM","Cosmos","/cosmos-price-index","30","LEO","UNUS SED LEO","/leo-price-index","1.04 b","94.12 m","0.17","2.58 b","0.86","business",9,"es.cointelegraph.com","market-analysis","Changelly",47,95,406132.5,"406.13 k",18852606,"18.85 m",3550004,"3.55 m",118054850.499,"118.05 m",9419099.24,"9.42 m",84000000,"84.00 m",1931746588.15,"1.93 b",99990191217,"99.99 b",1680763.52,"1.68 m",18880931.25,583583.13,"583.58 k",18014103.58442386,"18.01 m",1745615.27,"1.75 m",10393581.02495792,"10.39 m",219372994.46,"219.37 m",1037482376.0129,3299898.82,"3.30 m",12933006.25,"12.93 m",955065852.87,"955.07 m",33250650235.236,"33.25 b",4612636.02,"4.61 m",100000000,"100.00 m",13339351652.71,"13.34 b",100850743811.662,"100.85 b",2422572.29,"2.42 m",166801148,"166.80 m",1230179246.66,"1.23 b",50001802683.9843,"50.00 b",56581852753.13,"56.58 b",71357845272.53734,"71.36 b",38479267.49,"38.48 m",2779530283,"2.78 b",94117538.29,1000000000,"1.00 b",33787.33,"33.79 k",991328.38195493,"991.33 k",1116232.07,"1.12 m",18877807.89423905,6335812385.83,"6.34 b",131827955811.57542,"131.83 b",12377894.68,"12.38 m",210700000,"210.70 m",19446812.01,"19.45 m",893466514.312443,"893.47 m",274416670.96,"274.42 m",8999999999,"9.00 b",2577841896.84,32574825615.643726,"32.57 b",133127371.98,"133.13 m",30263013692,"30.26 b",16069712.15,"16.07 m",281198151.605441,"281.20 m",851669.09,"851.67 k",985239504,"985.24 m","9.60",8,"74788","tr","en.LanguageType.2","de","it","side","Y2hhbmdlbGx5LWJ1dHRvbg==","youtube","74784",21,"2021-10-23",16,"2021-10-22","Oct 22, 2021",15,17,11,"Large devices"," 1200px","Medium devices"," 992px","Small tablets"," 768px","Smartphones"," 480px","Extra small devices","

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