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A handful of investors claim the notoriously battered NFT sector is showing fresh signs of life after a spectacular fall and hordes of so-called crypto goblins are swarming to events across New York City this week to tout their non-fungible tokens.

NFT.NYC, which began Tuesday at the Javits Center and ends Friday, has played host to more than 800 speakers and 100 events for the closely-knit investors in NFTs — pieces of collectible, authenticated digital art that has included the “Bored Ape” and “CryptoPunks” series.

Despite becoming a punchline among crypto skeptics over a major boom-and-bust in 2022, NFTs are still drawing steady interest, according to Alex Taub, co-founder of Goblintown, an NFT collection whose name refers to so-called “goblin” investors who have blown their cash on failed crypto purchases.

While Goblintown’s basic releases sell for between $500 and $1,000, rare or one-of-a-kind NFTs can go for more than six figures, according to Taub. The current lowest asking price is $492, while the most expensive sale in the last 90 days went for more than $11,000, according to NFTpricefloor.com.

A lot of people say NFTs are dead — and in a lot of ways, most of them are, Taub, the CEO of Truth Labs, told The Post. But the teams that are still around and building things, theres still a lot of value to be created.

NFT enthusiasts are undeterred even after the high-profile implosion of convicted fraudster Sam Bankman-Frieds FTX empire. At one point, the floor price for the Bored Ape Yacht Club, arguably the most popular NFT collection, rapidly collapsed by 75% from more than $400,000 in April 2022 to less than $100,000. Currently, it is hovering just above $39,000.

HiHI! @McGoblinBurger Ill be working at the truck today pic.twitter.com/CyD6QCRi2R

Overall, NFT prices are still far below their peak in 2021 and 2022, according to NFT Price Floor COO Nicolas Lallement. While the initial surge in NFT popularity took place on the Ethereum blockchain, new projects tied to bitcoin and Solana have seen a spike in trading volume.

Activity is still way lower than two years ago, but there are signs to be optimistic, especially on high-end NFTs, said Lallement, who pointed out that two NFTs from the popular CryptoPunks collection recently sold for more than $15 million each.

A Goblintown-themed food truck, dubbed McGoblin Burger has been making pit stops at several NFTs.NYC events. The down-but-not-out crypto enthusiasts gathered in the pouring rain to scarf smash burgers outside the Cellar Dog in the West Village on Wednesday night.

A lot of people in the crypto space are like, were back, Taub said.

Welcome to @goblintown ? pic.twitter.com/smHadMT7Ia

Aside from building brand awareness, Taub said the truck will serve as a hub for the projects tight-knit community, who show up to crypto events in goblin masks in an oddball show of solidarity.

NFT proponents face an uphill climb to convince the general public. A report by dappGambl last year found that an eye-popping 95% of NFT investments had become worthless as crypto bottomed out.

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Through this week, the price of Bitcoin has jumped 53% to more than $67,000 since the start of the year. Ethereum, another popular digital currency closely tied to the NFT sector, is up 43% to $3,370.

Regarding the overall market, first thing to highlight is that crypto markets are highly cyclical and capital has a strong tendency to move to the new shiny thing, Lallement added.

Goblintown issued 10,000 NFTs for free just as the crypto sectors meltdown began in mid-2022. The project, which is loosely inspired by J.R.R. Tolkiens The Hobbit,” has poked fun at the inherent volatility and skepticism tied to crypto investments from the start. Its website initially joked that the founders have no roadmap and no utility.

Its a goblin kinda night pic.twitter.com/B7SYOpdJ31

Ive seen this so many times where we go up, theres euphoria, then it crashes, everyones like, this is over, and it comes back even stronger, Taub said. Every time, time and again, it does the same thing. Were just in that cycle.

The conference drew more than 16,000 attendees in 2022, but that number dropped to roughly 6,000 last year as Bitcoin imploded.

As The Post has reported, the jump in bitcoins price is largely related to the SECs approval of spot ETFs, which were taken as a vote of confidence from skeptical regulators and made crypto available to a wider pool of investors.  

NFT.NYC organizers could not immediately be reached for comment.

Taub said the co-founders decided to return the truck after a previous appearance at NFT.NYC in 2022 got a positive reaction. McGoblin Burger is a fixture in the NFT projects bizarro mythology.

Overall, the conference has a much more upbeat feeling than it did just one year ago.

Theres a lot of excitement. People who werent going to come now are coming. The vibes are very strong in terms of upbeat and positive. Its less like, were all going to make it and more like, crypto is inevitable, Taub added.

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Science

Crystalline Ice Discovered in Space: New Study Reveals Hidden Order in Cosmic Ice

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Crystalline Ice Discovered in Space: New Study Reveals Hidden Order in Cosmic Ice

Water ice coats many outer solar system bodies – from Jupiter’s icy moon Ganymede (above) to interstellar dust. On Earth, ice freezes into a neat crystal lattice, but in the deep cold of space it was assumed to form a completely amorphous (glassy) solid. A new study by University College London and Cambridge scientists challenges this picture. Their computer simulations and X-ray tests on cosmic “low-density” ice suggest it actually contains tiny crystalline grains. In some models roughly 20–25% of the ice was in crystal form, overturning the long-held view that space ice is entirely structureless.

Simulations reveal hidden nanocrystals

According to the paper, computer simulations of space ice showed it contains nanocrystals. In one approach, researchers cooled virtual water to –120 °C at different rates to form model “ice cubes.” Depending on the cooling speed, the simulated ice ranged from fully amorphous to partly ordered. Structures with roughly 16–19% of the molecules in tiny crystal clusters best matched published X-ray data for low-density ice. In another simulation, thousands of nanometer-sized ice grains were packed together and then the remaining water molecules were randomized. This produced ice about 25% crystalline, yet still reproduced the known diffraction pattern.

In laboratory experiments the team also made actual low-density amorphous ice by vapor deposition and gentle compression. When these samples were slowly warmed to crystallize, the resulting ice showed a “memory” of its formation method.

Implications for planets and origins of life

The findings give “a good idea of what the most common form of ice in the Universe looks like at an atomic level,” which is important for models of planet and galaxy formation. They also bear on theories of life’s origins. Partly crystalline ice has less internal space to trap organic molecules, potentially making it a less efficient vehicle for amino acids or other prebiotic compounds. However, Dr. Davies notes that pockets of fully amorphous ice still exist, so cosmic dust grains and cometary ices could continue to harbor organic ingredients in those disordered regions.

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Chancellor Rachel Reeves considering ‘changes’ to ISAs – and says there’s too much focus on ‘risk’ in investing

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Chancellor Rachel Reeves considering 'changes' to ISAs - and says there's too much focus on 'risk' in investing

The chancellor has confirmed she is considering “changes” to ISAs – and said there has been too much focus on “risk” in members of the public investing.

In her second annual Mansion House speech to the financial sector, Rachel Reeves said she recognised “differing views” over the popular tax-free savings accounts, in which savers can currently put up to £20,000 a year.

She was reportedly considering reducing the threshold to as low as £4,000 a year, in a bid to encourage people to put money into stocks and shares instead and boost the economy.

However the chancellor has shelved any immediate planned changes after fierce backlash from building societies and consumer groups.

In her speech to key industry figures on Tuesday evening, Ms Reeves said: “I will continue to consider further changes to ISAs, engaging widely over the coming months and recognising that despite the differing views on the right approach, we are united in wanting better outcomes for both savers and for the UK economy.”

She added: “For too long, we have presented investment in too negative a light, quick to warn people of the risks, without giving proper weight to the benefits.”

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Rachel Reeves’s fiscal dilemma

Ms Reeves’s speech, the first major one since the welfare bill climbdown two weeks ago, appeared to encourage regulators to focus less on risks and more on the benefits of investing in things like the stock market and government bonds (loans issued by states to raise funds with an interest rate paid in return).

She welcomed action by the financial regulator to review risk warning rules and the campaign to promote retail investment, which the Financial Conduct Authority (FCA) is launching next year.

“Our tangled system of financial advice and guidance has meant that people cannot get the right support to make decisions for themselves”, Ms Reeves told the event in London.

Read more:
Should you get Lifetime ISA? Two key issues to consider
Building societies protest against proposed ISA reforms
Is there £15bn of wiggle room in Reeves’s fiscal rules?

Last year, Ms Reeves said post-financial crash regulation had “gone too far” and set a course for cutting red tape.

On Tuesday, she said she would announce a package of City changes, including a new competitive framework for a part of the insurance industry and a regulatory regime for asset management.

Please use Chrome browser for a more accessible video player

Reeves is ‘totally’ up for the job

In response to Ms Reeves’s address, shadow chancellor Sir Mel Stride said: “Rachel Reeves should have used her speech this evening to rule out massive tax rises on businesses and working people. The fact that she didn’t should send a shiver down the spine of taxpayers across the country.”

👉Listen to Politics at Sam and Anne’s on your podcast app👈  

The governor of the Bank of England, Andrew Bailey, also spoke at the Mansion House event and said Donald Trump’s taxes on US imports would slow the economy and trade imbalances should be addressed.

“Increasing tariffs creates the risk of fragmenting the world economy, and thereby reducing activity”, he said.

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Politics

Chancellor Rachel Reeves considering ‘changes’ to ISAs – and says there’s too much focus on ‘risk’ in investing

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Chancellor Rachel Reeves considering 'changes' to ISAs - and says there's too much focus on 'risk' in investing

The chancellor has confirmed she is considering “changes” to ISAs – and said there has been too much focus on “risk” in members of the public investing.

In her second annual Mansion House speech to the financial sector, Rachel Reeves said she recognised “differing views” over the popular tax-free savings accounts, in which savers can currently put up to £20,000 a year.

She was reportedly considering reducing the threshold to as low as £4,000 a year, in a bid to encourage people to put money into stocks and shares instead and boost the economy.

However the chancellor has shelved any immediate planned changes after fierce backlash from building societies and consumer groups.

In her speech to key industry figures on Tuesday evening, Ms Reeves said: “I will continue to consider further changes to ISAs, engaging widely over the coming months and recognising that despite the differing views on the right approach, we are united in wanting better outcomes for both savers and for the UK economy.”

She added: “For too long, we have presented investment in too negative a light, quick to warn people of the risks, without giving proper weight to the benefits.”

Please use Chrome browser for a more accessible video player

Rachel Reeves’s fiscal dilemma

Ms Reeves’s speech, the first major one since the welfare bill climbdown two weeks ago, appeared to encourage regulators to focus less on risks and more on the benefits of investing in things like the stock market and government bonds (loans issued by states to raise funds with an interest rate paid in return).

She welcomed action by the financial regulator to review risk warning rules and the campaign to promote retail investment, which the Financial Conduct Authority (FCA) is launching next year.

“Our tangled system of financial advice and guidance has meant that people cannot get the right support to make decisions for themselves”, Ms Reeves told the event in London.

Read more:
Should you get Lifetime ISA? Two key issues to consider
Building societies protest against proposed ISA reforms
Is there £15bn of wiggle room in Reeves’s fiscal rules?

Last year, Ms Reeves said post-financial crash regulation had “gone too far” and set a course for cutting red tape.

On Tuesday, she said she would announce a package of City changes, including a new competitive framework for a part of the insurance industry and a regulatory regime for asset management.

Please use Chrome browser for a more accessible video player

Reeves is ‘totally’ up for the job

In response to Ms Reeves’s address, shadow chancellor Sir Mel Stride said: “Rachel Reeves should have used her speech this evening to rule out massive tax rises on businesses and working people. The fact that she didn’t should send a shiver down the spine of taxpayers across the country.”

👉Listen to Politics at Sam and Anne’s on your podcast app👈  

The governor of the Bank of England, Andrew Bailey, also spoke at the Mansion House event and said Donald Trump’s taxes on US imports would slow the economy and trade imbalances should be addressed.

“Increasing tariffs creates the risk of fragmenting the world economy, and thereby reducing activity”, he said.

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