SOCIAL

Meta Looks to Sell Off its Diem Cryptocurrency Project Due to Ongoing Challenges and Restrictions

Published

3 years ago

January 26, 2022

Meta Looks to Sell Off its Diem Cryptocurrency Project Due to Ongoing Challenges and Restrictions

After three years of development, and a raft of changes to its name, scope, leadership and purpose, it seems like Meta’s trouble cryptocurrency project may soon come to an end.

According to reports, Meta’s looking to pull the pin on its Diem/Novi crypto project, with company representatives seeking expressions of interest on its sale.

As reported by Bloomberg:

“The Diem Association, a cryptocurrency initiative once known as Libra backed by Meta Platforms Inc., is weighing a sale of its assets as a way to return capital to its investor members, according to people familiar with the matter. Diem is in discussions with investment bankers about how best to sell its intellectual property and find a new home for the engineers who developed the technology, cashing out whatever value remains in its once-ambitious Diem coin venture, said the people, asking not to be identified because the discussions aren’t public.”

That would be a significant step back for Meta, which launched its original Libra crypto project to much fanfare in 2019, with former PayPal chief David Marcus at the helm of the initiative.

But the project saw strong resistance from the start.

Maybe it’s because it was coming from Meta (then Facebook), or maybe it was due to widespread distrust of crypto projects, but many regions came straight out and said that they would not support the company creating its own currency. The public backlash saw many of the initial big-name backers pull out, including Visa, Mastercard and PayPal, all key names which had leant credibility to the initial concept.

That, already, put the entire experiment in limbo, because without the support of major financial institutions, Meta’s options for the project were limited. It seemed, then, that the project would likely fade away, but then in May 2020, Meta announced that it was changing the name of its crypto wallet from Calibra to Novi.

In October last year, after a long period of no news, then Novi chief David Marcus announced the next major step forward for the project, with the launch of a pilot of its Novi digital wallet in the US and Guatemala, enabling users to send and receive money between the two regions.

That was the first concrete steps we’d seen in making the project a workable reality, but still, many regions are still very skeptical of cryptocurrency, and with India, in particular, moving to ban cryptocurrencies outright, the value of the project was also lessened, potentially to the point where it’s now no longer viable in broader terms.

India, it’s worth noting, is where Meta sees the most potential for money transfers and eCommerce, as it looks to cement its apps as key connective tools in the emerging market.

Shortly after the launch of the Novi payments pilot, David Marcus left the project, and maybe that was the final flag, the signal that it was just never going to make it.

Which now leads to these new reports, that Meta’s looking to sell it off – though it is worth noting that the reports suggest that Meta is looking to get out of the Diem Association, the parent group overseeing the project, with no mention of the Novi payment project specifically.

I would assume that they are intrinsically tied together, but maybe there’s a way for Meta to continue to support and develop its Novi payments option independently, though that does seem like a stretch.

So what would a sale of Diem, and the failure of Meta’s crypto push, mean for crypto more broadly?

I mean, resistance is steadily growing for cryptocurrencies in general, with more regions now moving to cut them off completely, including Russia, China and Indonesia in recent months. A report published the Library Law of Congress late last year showed that the number of countries and jurisdictions that have either banned or restricted cryptocurrencies has more than doubled since 2018, due to concerns around scam activity, market price fluctuations, and environmental impacts as a result of crypto ‘mining’.

Yet, at the same time, many western nations are seeing a boom in sales of crypto-aligned projects like NFTs, and with Web3 advocates essentially tying the growing tech movement into crypto development, it is actually gaining momentum in some circles, despite concurrently rising concerns.

But as noted, western markets are not where Meta saw the most potential value in its crypto project. Meta’s real aim has been to build native, in-stream payments into its apps, in order to further embed their use into developing markets, like India and Indonesia. Both of these regions see high remittance activity, with people transferring money back to family, and Meta originally saw Diem as a vehicle for removing fees from such exchanges, which would then get more people moving their money through Facebook and WhatsApp.

And once they’re already shifting their money around in its apps, that would make it much easier for Meta to parlay that behavior into eCommerce, expanding utility, and importance, for the millions of people in these markets.

But it does seem like that’s not to be – and given that, it makes sense for Meta to move on.

Though it’s not a great endorsement for the potential of crypto, in a broader sense. If Meta, with all of its resources and influence, can’t find a real use case for crypto, does that suggest that its potential value is not as high as some advocates think?

That might be a stretch, but as more regions move to ban crypto projects, and more big players step away from the sector, it does seem like the challenges are rising, which could, eventually, put the brakes on the entire crypto movement.

Source link

Up Next

Germany weighs ban on Telegram, tool of conspiracy theorists

Don't Miss

China restricts activists’ social media ahead of Olympics

Click to comment

You must be logged in to post a comment Login

SOCIAL

12 Proven Methods to Make Money Blogging in 2024

Published

5 months ago

May 14, 2024

Entireweb News Bot

This is a contributed article.

The world of blogging continues to thrive in 2024, offering a compelling avenue for creative minds to share their knowledge, build an audience, and even turn their passion into profit. Whether you’re a seasoned blogger or just starting, there are numerous effective strategies to monetize your blog and achieve financial success. Here, we delve into 12 proven methods to make money blogging in 2024:

1. Embrace Niche Expertise:

Standing out in the vast blogosphere requires focus. Carving a niche allows you to cater to a specific audience with targeted content. This not only builds a loyal following but also positions you as an authority in your chosen field. Whether it’s gardening techniques, travel hacking tips, or the intricacies of cryptocurrency, delve deep into a subject you’re passionate and knowledgeable about. Targeted audiences are more receptive to monetization efforts, making them ideal for success.

2. Content is King (and Queen):

High-quality content remains the cornerstone of any successful blog. In 2024, readers crave informative, engaging, and well-written content that solves their problems, answers their questions, or entertains them. Invest time in crafting valuable blog posts, articles, or videos that resonate with your target audience.

Focus on evergreen content: Create content that remains relevant for a long time, attracting consistent traffic and boosting your earning potential.
Incorporate multimedia: Spice up your content with captivating images, infographics, or even videos to enhance reader engagement and improve SEO.
Maintain consistency: Develop a regular publishing schedule to build anticipation and keep your audience coming back for more.

3. The Power of SEO:

Search Engine Optimization (SEO) ensures your blog ranks high in search engine results for relevant keywords. This increases organic traffic, the lifeblood of any monetization strategy.

Keyword research: Use keyword research tools to identify terms your target audience searches for. Strategically incorporate these keywords into your content naturally.
Technical SEO: Optimize your blog’s loading speed, mobile responsiveness, and overall technical aspects to improve search engine ranking.
Backlink building: Encourage other websites to link back to your content, boosting your blog’s authority in the eyes of search engines.

4. Monetization Magic: Affiliate Marketing

Affiliate marketing allows you to earn commissions by promoting other companies’ products or services. When a reader clicks on your affiliate link and makes a purchase, you get a commission.

Choose relevant affiliates: Promote products or services that align with your niche and resonate with your audience.
Transparency is key: Disclose your affiliate relationships clearly to your readers and build trust.
Integrate strategically: Don’t just bombard readers with links. Weave affiliate promotions naturally into your content, highlighting the value proposition.

5. Display Advertising: A Classic Approach

Display advertising involves placing banner ads, text ads, or other visual elements on your blog. When a reader clicks on an ad, you earn revenue.

Choose reputable ad networks: Partner with established ad networks that offer competitive rates and relevant ads for your audience.
Strategic ad placement: Place ads thoughtfully, avoiding an overwhelming experience for readers.
Track your performance: Monitor ad clicks and conversions to measure the effectiveness of your ad placements and optimize for better results.

6. Offer Premium Content:

Providing exclusive, in-depth content behind a paywall can generate additional income. This could be premium blog posts, ebooks, online courses, or webinars.

Deliver exceptional value: Ensure your premium content offers significant value that justifies the price tag.
Multiple pricing options: Consider offering tiered subscription plans to cater to different audience needs and budgets.
Promote effectively: Highlight the benefits of your premium content and encourage readers to subscribe.

7. Coaching and Consulting:

Leverage your expertise by offering coaching or consulting services related to your niche. Readers who find your content valuable may be interested in personalized guidance.

Position yourself as an expert: Showcase your qualifications, experience, and client testimonials to build trust and establish your credibility.
Offer free consultations: Provide a limited free consultation to potential clients, allowing them to experience your expertise firsthand.
Develop clear packages: Outline different coaching or consulting packages with varying time commitments and pricing structures.

8. The Power of Community: Online Events and Webinars

Host online events or webinars related to your niche. These events offer valuable content while also providing an opportunity to promote other monetization avenues.

Interactive and engaging: Structure your online events to be interactive with polls, Q&A sessions, or live chats. Click here to learn more about image marketing with Q&A sessions and live chats.

9. Embrace the Power of Email Marketing:

Building an email list allows you to foster stronger relationships with your audience and promote your content and offerings directly.

Offer valuable incentives: Encourage readers to subscribe by offering exclusive content, discounts, or early access to new products.
Segmentation is key: Segment your email list based on reader interests to send targeted campaigns that resonate more effectively.
Regular communication: Maintain consistent communication with your subscribers through engaging newsletters or updates.

10. Sell Your Own Products:

Take your expertise to the next level by creating and selling your own products. This could be physical merchandise, digital downloads, or even printables related to your niche.

Identify audience needs: Develop products that address the specific needs and desires of your target audience.
High-quality offerings: Invest in creating high-quality products that offer exceptional value and user experience.
Utilize multiple platforms: Sell your products through your blog, online marketplaces, or even social media platforms.

11. Sponsorships and Brand Collaborations:

Partner with brands or businesses relevant to your niche for sponsored content or collaborations. This can be a lucrative way to leverage your audience and generate income.

Maintain editorial control: While working with sponsors, ensure you retain editorial control to maintain your blog’s authenticity and audience trust.
Disclosures are essential: Clearly disclose sponsored content to readers, upholding transparency and ethical practices.
Align with your niche: Partner with brands that complement your content and resonate with your audience.

12. Freelancing and Paid Writing Opportunities:

Your blog can serve as a springboard for freelance writing opportunities. Showcase your writing skills and expertise through your blog content, attracting potential clients.

Target relevant publications: Identify online publications, websites, or magazines related to your niche and pitch your writing services.
High-quality samples: Include high-quality blog posts from your site as writing samples when pitching to potential clients.
Develop strong writing skills: Continuously hone your writing skills and stay updated on current trends in your niche to deliver exceptional work.

Conclusion:

Building a successful blog that generates income requires dedication, strategic planning, and high-quality content. In today’s digital age, there are numerous opportunities to make money online through blogging. By utilizing a combination of methods such as affiliate marketing, sponsored content, and selling digital products or services, you can leverage your blog’s potential and achieve financial success.

Remember, consistency in posting, engaging with your audience, and staying adaptable to trends are key to thriving in the ever-evolving blogosphere. Embrace new strategies, refine your approaches, and always keep your readers at the forefront of your content creation journey. With dedication and the right approach, your blog has the potential to become a valuable source of income and a platform for sharing your knowledge and passion with the world, making money online while doing what you love.

Image Credit: DepositPhotos

Source link

SOCIAL

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

Published

7 months ago

March 18, 2024

Max

Snapchat Explores New Messaging Retention Feature: A Game-Changer or Risky Move?

In a recent announcement, Snapchat revealed a groundbreaking update that challenges its traditional design ethos. The platform is experimenting with an option that allows users to defy the 24-hour auto-delete rule, a feature synonymous with Snapchat’s ephemeral messaging model.

The proposed change aims to introduce a “Never delete” option in messaging retention settings, aligning Snapchat more closely with conventional messaging apps. While this move may blur Snapchat’s distinctive selling point, Snap appears convinced of its necessity.

According to Snap, the decision stems from user feedback and a commitment to innovation based on user needs. The company aims to provide greater flexibility and control over conversations, catering to the preferences of its community.

Currently undergoing trials in select markets, the new feature empowers users to adjust retention settings on a conversation-by-conversation basis. Flexibility remains paramount, with participants able to modify settings within chats and receive in-chat notifications to ensure transparency.

Snapchat underscores that the default auto-delete feature will persist, reinforcing its design philosophy centered on ephemerality. However, with the app gaining traction as a primary messaging platform, the option offers users a means to preserve longer chat histories.

The update marks a pivotal moment for Snapchat, renowned for its disappearing message premise, especially popular among younger demographics. Retaining this focus has been pivotal to Snapchat’s identity, but the shift suggests a broader strategy aimed at diversifying its user base.

This strategy may appeal particularly to older demographics, potentially extending Snapchat’s relevance as users age. By emulating features of conventional messaging platforms, Snapchat seeks to enhance its appeal and broaden its reach.

Yet, the introduction of message retention poses questions about Snapchat’s uniqueness. While addressing user demands, the risk of diluting Snapchat’s distinctiveness looms large.

As Snapchat ventures into uncharted territory, the outcome of this experiment remains uncertain. Will message retention propel Snapchat to new heights, or will it compromise the platform’s uniqueness?

Only time will tell.

SOCIAL

Catering to specific audience boosts your business, says accountant turned coach

Published

8 months ago

February 26, 2024

Entireweb News Bot

Catering to specific audience boosts your business, says accountant turned coach

While it is tempting to try to appeal to a broad audience, the founder of alcohol-free coaching service Just the Tonic, Sandra Parker, believes the best thing you can do for your business is focus on your niche. Here’s how she did just that.

When running a business, reaching out to as many clients as possible can be tempting. But it also risks making your marketing “too generic,” warns Sandra Parker, the founder of Just The Tonic Coaching.

“From the very start of my business, I knew exactly who I could help and who I couldn’t,” Parker told My Biggest Lessons.

Parker struggled with alcohol dependence as a young professional. Today, her business targets high-achieving individuals who face challenges similar to those she had early in her career.

“I understand their frustrations, I understand their fears, and I understand their coping mechanisms and the stories they’re telling themselves,” Parker said. “Because of that, I’m able to market very effectively, to speak in a language that they understand, and am able to reach them.”Â

“I believe that it’s really important that you know exactly who your customer or your client is, and you target them, and you resist the temptation to make your marketing too generic to try and reach everyone,” she explained.

“If you speak specifically to your target clients, you will reach them, and I believe that’s the way that you’re going to be more successful.

Watch the video for more of Sandra Parker’s biggest lessons.

Source link