💰 Binance launches NFT loan feature
Traders can use blue-chip NFTs to borrow crypto
Hey Waivly Crew! 🌊 Binance is launching an NFT loan feature to rival Blend. OpenAI has introduced a $1 million grant program aimed at revolutionizing AI governance.
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OpenAI offers $100K grants for ideas on AI governance
OpenAI is launching a program to award ten $100,000 grants to fund experiments in setting up a democratic process for deciding what rules AI systems should follow.
In an announcement on Thursday, OpenAI said it’s seeking to fund individuals, teams, and organizations to develop proof-of-concepts for a “democratic process” that could answer questions about guardrails for AI.
The company plans to learn from these experiments and use them as the basis for a more global — and more ambitious — process going forward.
“While these initial experiments are not (at least for now) intended to be binding for decisions, we hope that they explore decision relevant questions and build novel democratic tools that can more directly inform decisions in the future,” OpenAI wrote. “This grant represents a step to establish democratic processes for overseeing AGI."
The grants will be provided by OpenAI's non-profit arm. It said the project results will be free and accessible to the public.
Those interested have until June 24th to submit their grant application. Once the application period closes, OpenAI will select ten successful recipients.
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Binance's NFT marketplace has introduced a new feature that enables users to borrow cryptocurrencies using NFTs as collateral.
The new service, called Binance NFT Loan, will initially support ether (ETH) borrowing against "blue-chip" NFTs, such as Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki, and Doodles.
According to the platform, the tool offers instant liquidity, competitive interest rates, zero gas fees, and liquidity protection. It uses a "Peer-to-Pool" mechanism where Binance acts as the pool for loans.
The current interest rate on NFT loans is 3.36% p.a., and loan to value ratio ranges from 40% to 60%, according to the Binance NFT website.
With the launch, the Binance NFT marketplace will directly compete with "Blend," a peer-to-peer perpetual NFT lending protocol launched by Blur earlier this month.
Vertex Labs has announced its acquisition of Digimental Studio, the creative force behind 3D NFT fashion brand Hape, for $12 million.
The acquisition is expected to strengthen Vertex Labs’ standing as the world’s leading provider of Web3 and AI infrastructure.
Digimental Studio is set to merge with Vertex Labs’ metaverse protocol, Vertex Network, and 3D metaverse platform, LightCycle, the latter of which Digimental will take the lead on the creation and development of.
Under Vertex Labs, Hape will continue to form new partnerships with fashion, lifestyle, and luxury players, providing them with unprecedented access and infrastructure support within the Web3 space.
In addition, Hape plans to introduce a new staking program for its community members.
“Joining forces with Vertex Labs opens up an exciting new chapter for Digimental Studio. As we enter the HAPE 2.0 era, our collaboration will push the frontiers of the digital world," said Matt Sypien, founder of Digimental Studio.
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