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The market for nonfungible tokens (NFTs) might be struggling during this "NFT Winter," but there are signs of life if you know where to look. 2039 Total views 25 Total shares Listen to article 0:00 Opinion Join us on social networksHeadlines predicting the death of Bitcoin are nothing new. Over the past decade, weve seen every permutation of why Bitcoin is dead imaginable, yet the current crypto winter has brought very few of these dire proclamations.

It seems a little different this time. Maybe its hard to pen such a eulogy with Bitcoin (BTC) hovering around $28,000, and a spot Bitcoin ETF on the horizon. Doesnt seem like Ethereums dead either.

But the blockchain industry and its commentators still need a corpse to poke at, and thats what theyve found with the putrid cadaver that is thenonfungible token (NFT) market.

Related:The economy is surging which means it might be time to start buying Bitcoin

NFTs are dead. Deceased. Lifeless. NFTs are the Norwegian Blue from Monty Pythons Dead Parrot Sketch. And the grave dancing has commenced; to quote a recent Rolling Stone headline, Your NFTs are actually finally totally worthless.

Rolling Stone is right most NFTs are indeed utterly worthless.

Yet that should not be surprising to anyone whos been in crypto for a few cycles. Most of the ICO tokens from the 2017 bull market vintage were dead by the 2018/19 winter. Likewise, the countless DeFi protocol tokens post-DeFi-summer of 2020.

Today, more than 1.8 million tokens have an aggregate market cap of a little more than $1 trillion. But the top 10 largest protocols and tokens account for over 93% of the total.

Do the math. Thats a long, long tail of worthless zombie coins. The vast majority of all tokens die. So why should NFTs be any different?

The barrier to entry to create an NFT project in the hope of striking it rich was (and remains) low. Anyone can, and seemingly did, create an NFT collection in a few minutes with a few keystrokes.

Related:Bitcoin ETFs: A $600B tipping point for crypto

So what happened when a frenzy of trading activity and money flooded into this new corner of the crypto market in mid-2021? The free market responded exactly how it was supposed to: it provided supply. And supply ? quality, especially in this industry.

Weve seen the same cycle again and again, this just happens to be the first real NFT winter.

A-listers have quietly taken their NFT Twitter avatars down. Jimmy Fallon isnt shilling apes with Paris Hilton on late-night TV. Ashton Kutchers Stoner Cats has settled with the Securities and Exchange Commission (SEC). A collective sense of embarrassment abounds.

NFT trading volumes have collapsed, from around $1 billion a week in mid-2021 to early-2022, to sub-$100 million today.NFT trading volume by chain. Source: CryptoSlam

Its bleak. But, as I said back in October 2021 about NFTs, Peaks and troughs are nothing new, it’s what emerges from them which is what’s worth paying attention to.

For those curious and open-minded enough to look beneath the surface of the NFTs are dead generalization prevalent today, there are signs of life amidst the rubble.

In September, news emerged that PayPal filed a patent application in March surrounding an NFT purchase-and-transfer system.

Pudgy Penguins continues to expand into physical toys, first selling on Amazon in March and recently expanding to 2,000 Walmart stores across the U.S. (Disclaimer: I own a fat penguin jpeg.)

Doodles have collaborated with casual footwear brand Crocs in a similar effort to merge the physical and digital, with a likewise similar collaboration between Gary Vees Veefriends and Reebok.

At a concert over the summer, Harry Styles fans could download an app featuring a self-custodial digital wallet for future NFT rewards. Meanwhile, Justin Bieber is collaborating with a blockchain music platform to turn a song into an NFT with royalty streams to the NFT holders.

The top auction houses continue to bring mainstream artists into the NFT world, Keith Haring with Christies for example, and Sothebys partnering with Ledger to offer a co-branded Ledger Nano X (hardware wallet) for buyers of premier digital art.

If you keep looking youll find more and more signs of life, because NFTs are not dead.

The fundamental technological primitive of what NFTs are and what they offer will not die, any more than blockchain will die. They will simply continue to evolve while the weak hands, weak teams, scams, copycats, and fast money fade into history, another footnote from another crypto cycle.

As we transition from this NFT winter into a new season, expect to see NFT projects that are more sophisticated and commercially viable, enriching the ecosystem in new and meaningful ways.Tama Churchouse is the COO of Cumberland Labs, an early-stage Web3 incubator, and a founder of Digitali, a community-driven NFT Wiki that serves as a comprehensive database for NFT collections.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. # Cryptocurrencies # Decentralization # Analysis # Metaverse # Crypto Collectibles # Web3 # NFT # Opinion

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Samantha Morton calls for manslaughter charges over deaths of children in care

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Samantha Morton calls for manslaughter charges over deaths of children in care

Actor and director Samantha Morton has said councils who fail to prevent the deaths of children in care should face manslaughter charges.

Warning: This story contains references to suicide.

In a powerful interview with Sky News, the Oscar-nominated, BAFTA-winning actor and director, who grew up in care, said Britain’s care system needs to be “completely rethought”.

It comes after a Sky News documentary, A Girl Called Nonita, told the story of 18-year-old Nonita Grabovskyte, who died in the care of the state following a catalogue of failures by those responsible for her care.

Nonita took her own life on railway tracks in December 2023, just two weeks after her birthday. She had previously told doctors and social workers that she intended to kill herself as soon as she turned 18. But nothing was done to prevent her death.

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Unseen: A girl called Nonita

“I was a child of the state, just like Nonita,” Morton told Sky News.

“I was put in care at birth until I got the letter to say I was no longer the council’s responsibility. I was kicked out at 16 and put into a homeless hostel.”

After spells of homelessness, she found a local TV actors’ workshop and managed to secure roles that would eventually lead to Hollywood.

But she says she has never forgotten her childhood, which saw her in and out of children’s homes and foster families.

“The lack of care historically is shocking,” she said. “But the lack of care today is worse. Back then, it felt like there was at least some comeuppance.

“The system now is not fit for purpose. It needs root and branch reform. It needs to be completely rethought.”

The young people who grew up in care who have died in England since 2020

2020: 40

2021: 30

2022: 60

2023: 90

2024: 80

Source: Department for Education

The data shows a sharp rise in deaths among care leavers – young adults who have aged out of the care system and are expected to live independently, often with little or no support.

The Department for Education only began collecting data for care leavers aged 22 to 25 in 2023, meaning the true scale of deaths over the past decade is likely to be far higher.

Morton says councils should be held more accountable for the deaths of children in their care, especially if local authority failings contributed to deaths.

Pic: Invision/AP
Image:
Pic: Invision/AP

‘State manslaughter’

“A failure to care has massive consequences,” she told Sky News. “And the consequences are that people like Nonita die. I believe that that is a kind of state manslaughter.

“And individuals who fail to do their job properly should be in a dock.”

Education Secretary Bridget Phillipson has told Sky News that deaths of care-experienced young people should “shame us all”.

All deaths of children in the care of the state must be reported to the government via the Child Safeguarding Incident Notification Scheme.

But there are doubts as to whether all deaths are being reported.

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Phillipson: ‘Nonita was failed on so many levels’

‘Shames us as a country’

Ms Phillipson told Sky News she has asked officials to urgently review the process to check for underreporting.

“I’m concerned about serious incident notifications – about making sure we’re receiving all notifications of such incidents taking place,” she said.

“Because it’s only if we know what’s happening, if we fully understand what’s going on in the lives of children, that we as a government, as a country, can provide the support they need.”

Read more from Sky News:
PM vows to fight plots to oust him
Thousands of NHS staff to lose jobs

Ms Phillipson added: “It shames us all as a country that we so badly fail many of the most vulnerable children who’ve experienced such appalling trauma and abuse in their early lives.

“I read every single notification personally – and it always stays with you. Every case is a child or young person who deserved better.”

If you have been affected by any of the issues raised in this story, help, and support is available. You can call Samaritans free on 116 123 anytime day or night. You can also email jo@samaritans.org or visit www.samaritans.org to find support online.

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Sally Kirkland, famous for her Oscar-nominated roles in The Sting and Anna, dies aged 84

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Sally Kirkland, famous for her Oscar-nominated roles in The Sting and Anna, dies aged 84

Sally Kirkland, a former model and Oscar nominated actress known for her roles in films such as Anna, The Sting and JFK has died aged 84.

Her representative, Michael Greene, said Kirkland died on Tuesday morning at a Palm Springs hospice.

Kirkland had been unwell and struggling to cover medical bills after she fractured six bones last year and developed two life-threatening infections. She had also been diagnosed with dementia.

A GoFundMePage that was set up by her friends to help pay for her ongoing treatment had raised over £45,000 ($60,000).

Michael Douglas, left, and Sally Kirkland appear with their best actor Golden Globes for Wall Street and Anna. Pic: AP
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Michael Douglas, left, and Sally Kirkland appear with their best actor Golden Globes for Wall Street and Anna. Pic: AP

Her biggest role was in the 1987 film Anna, as a fading Czech movie star remaking her life in the United States and mentoring a younger actor.

Kirkland won a Golden Globe and earned an Oscar nomination alongside Cher in Moonstruck, Glenn Close in Fatal Attraction, Holly Hunter in Broadcast News and Meryl Streep in Ironweed.

Born in New York City, Kirkland was encouraged to start modelling at age five by her mother, who was a fashion editor at Vogue and Life magazines. Kirkland went on to graduate from the American Academy of Dramatic Arts in 1961.

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An early breakout for the star was appearing in Andy Warhol’s 13 Most Beautiful Women in 1964.

Sally Kirkland in 2015. Pic: Reuters
Image:
Sally Kirkland in 2015. Pic: Reuters

Some of her earliest roles were playing Shakespeare parts, including Helena in A Midsummer Night’s Dream and Miranda in an off-Broadway production of The Tempest.

She once told the Los Angeles Times: “I don’t think any actor can really call him or herself an actor unless he or she puts in time with Shakespeare.”

Kirkland was also infamous for her nude scenes, often disrobing in films and for social causes. In particular, Kirkland volunteered and advocated for people with AIDS, the homeless and prisoners.

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Thousands of NHS staff to be made redundant after funding agreed

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Thousands of NHS staff to be made redundant after funding agreed

Thousands of job cuts at the NHS will go ahead after the £1bn needed to fund the redundancies was approved by the Treasury.

The government had already announced its intention to slash the headcount across both NHS England and the Department of Health by around 18,000 administrative staff and managers, including on local health boards.

The move is designed to remove “unnecessary bureaucracy” and raise £1bn a year by the end of the parliament to improve services for patients by freeing up more cash for operations.

NHS England, the Department of Health and Social Care, and the Treasury had been in talks over how to pay for the £1bn one-off bill for redundancies.

It is understood the Treasury has not granted additional funding for the departures over and above the NHS’s current cash settlement, but the NHS will be permitted to overspend its budget this year to pay for redundancies, recouping the costs further down the line.

‘Every penny will be spent wisely’

Chancellor Rachel Reeves is set to make further announcements regarding the health service in the budget on 26 November.

And addressing the NHS providers’ annual conference in Manchester today, Mr Streeting is expected to say the government will be “protecting investment in the NHS”.

He will add: “I want to reassure taxpayers that every penny they are being asked to pay will be spent wisely.

“Our investment to offer more services at evenings and weekends, arm staff with modern technology, and improving staff retention is working.

“At the same time, cuts to wasteful spending on things like recruitment agencies saw productivity grow by 2.4% in the most recent figures – we are getting better bang for our buck.”

Health Secretary Wes Streeting during a visit to the NHS National Operations Centre in London earlier this year. Pic: PA
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Health Secretary Wes Streeting during a visit to the NHS National Operations Centre in London earlier this year. Pic: PA

Mr Streeting’s speech is due to be given just hours after he became entrenched in rumours of a possible coup attempt against Sir Keir Starmer, whose poll ratings have plummeted ahead of what’s set to be a tough budget.

Mr Streeting’s spokesperson was forced to deny he was doing anything other than concentrating on the health service.

Read more from Sky News:
Russian troops in Mad Max-style video

Shamima Begum ‘should be repatriated’

He is also expected on Wednesday to give NHS leaders the go-ahead for a 50% cut to headcounts in Integrated Care Boards, which plan health services for specific regions.

They have been tasked with transforming the NHS into a neighbourhood health service – as set down in the government’s long-term plans for the NHS.

Those include abolishing NHS England, which will be brought back into the health department within two years.

Watch Wes Streeting on Mornings With Ridge And Frost from 7am on Sky News.

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