Rally, a social token platform, has announced nonfungible tokens (NFTs) on its sidechain will no longer be accessible. Users reported across social media platforms that Rally said the platform’s sidechain will “begin to sunset” after Jan. 31, leaving users unable to access NFTs once the site fully shuts down. The site’s developers did not say that they would be offering another path forward in the future, but hinted at building “leaner web3 experiences and/or products on mainnet.” “2022 was a challenging year not only for the platform, but also for the entire crypto industry,” said Rally. “The team has worked …

The crypto world is going through a transformative chapter that is bound to revolutionize how the internet works and how online communities interact, and social tokens are at the heart of the latest inflective developments. Their rise comes at a time when transactional frameworks, such as Web3, are gaining popularity, especially among crypto enthusiasts. Social tokens support the democratization of social networks by enabling brands, influencers and businesses to create and monetize their own online communities using blockchain technology. Daniel Nagy, vice president of Swarm — a decentralized data storage and dispensation firm — spoke to Cointelegraph regarding the new …

There is no shortage of visionary scenarios about how Web3 might unfold, but one of the latest, “Decentralized Society: Finding Web3’s Soul” — a paper published in mid-May by E. Glen Weyl, Puja Ohlhaver and Vitalik Buterin — is close to becoming one of the top 50 most downloaded papers on the SSRN scholarly research platform. The attention, one might suspect, has much to do with the participation of Buterin, blockchain’s wunderkind and the legendary co-founder of the Ethereum network. But it could also be a function of the paper’s ambition and scope, which includes asking questions like: What sort …