Bitcoin

Unveiling the Future of Crypto-Art: Sastanaqqam

Published

2 years ago

May 31, 2023

Unveiling the Future of Crypto-Art: Sastanaqqam’s Journey and the Metaverse Revolution. Interview with Mohamed Azzi

In a fascinating exchange at the 2023 Blockchain Economy Summit in Istanbul, Petar Velchev of CoinReporter engaged in a deep dive with Sastanaqqam’s Mohamed Azzi about his company and its place within the rapidly evolving crypto-art landscape.

Azzi, whose firm, Sastanaqqam, is a comprehensive ecosystem built around a single token, spoke about the philosophy behind the company’s unique moniker saying that It’s basically all about questioning yourself and using that introspection to rise in the work ecosystem.

The company’s main objective, Azzi went on to share, is to usher artists into the web3 ecosystem by providing them with the tools to digitize their art. To this end, Sastanaqqam has created a marketplace for digital art, a virtual museum for displaying it, and a non-custodial wallet to handle transactions on these platforms. The company’s operations are based on the Polygon platform, and they have plans to introduce a native token, the blue token, soon.

Azzi revealed that their virtual museum is also a Virtual Reality (VR) experience designed to democratize access to digital art, while simultaneously boosting the visibility of artists and their work. He also mentioned future plans to construct virtual galleries for renowned collections, particularly in Germany.

When quizzed about the concept of the metaverse, Azzi noted that it has existed for a long time but is now becoming increasingly democratized. He sees a future where the metaverse will have practical and beneficial uses. Although Sastanaqqam is not yet fully integrated into the metaverse, Azzi assured that they are prepared to enter it, with an ecosystem adaptable to this new reality. He envisions the metaverse as a potential platform for showcasing art globally.

On the topic of meme coins, Azzi expressed that success could come from unconventional beginnings, but ultimately, the value and utility brought to the token are what matter. He said that meme coins lacking in useful applications or characteristics would eventually fade away.

Azzi firmly believes in the potential of art as a sound investment, a belief strengthened by the emergence of digital art and NFTs. He views the rise of cryptocurrencies as a promising development that offers security, transparency, and greater access to financial services. While recognizing the risks associated with investing in cryptocurrencies, he feels they hold the potential to revolutionize our financial system.

All in all, the conversation painted a picture of an innovative company working to bridge the gap between traditional and digital art, while also preparing to immerse itself in the exciting possibilities of the metaverse.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CoinReporter.io and EUReporter.co does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Related Topics:Bitcoin CBDC DeFi Featured Metaverse

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Coinbase Teams Up with Apple Pay to Simplify Cryptocurrency Purchases

Published

5 days ago

December 4, 2024

Editor

In a significant stride towards mainstream adoption of cryptocurrency, Coinbase, one of the largest and most recognized crypto exchanges in the United States, has announced a partnership with Apple Pay. This collaboration marks a pivotal moment in the integration of traditional payment methods with the burgeoning world of digital currencies, making it easier than ever for consumers to enter the crypto space.

Streamlined Access to Cryptocurrency

The integration of Apple Pay into Coinbase’s Onramp platform means that users can now purchase cryptocurrencies like Bitcoin, Ethereum, and others using Apple’s payment service directly within third-party apps. This move is aimed at simplifying what has historically been a complex process of converting fiat currency into crypto. Coinbase Onramp, formerly known as Coinbase Pay, now supports Apple Pay, offering an almost instantaneous method for users to fund their crypto purchases. This is particularly beneficial for those new to the crypto ecosystem, reducing the barriers to entry by eliminating the need for multiple exchanges or lengthy KYC (Know Your Customer) procedures.

A Leap Towards Mainstream Adoption

This partnership signifies more than just a technical integration; it’s a clear signal of cryptocurrency gaining legitimacy in the eyes of major corporations. With Apple Pay boasting approximately 640 million active users worldwide, and over 90% of retailers in the U.S. accepting it, this integration could potentially expose millions to the world of cryptocurrency. The move also comes at a time when the crypto market is experiencing renewed interest, with Bitcoin nearing $100,000, fueled by pro-crypto sentiments from incoming political administrations.

Benefits for Developers and Users

For app developers, this integration is seamless. Those already using Coinbase Onramp don’t need to take any extra steps; Apple Pay will automatically appear as an option for eligible purchases. This is particularly advantageous for developers of blockchain and crypto-focused apps, who can now offer their users a familiar and trusted payment method. Users benefit from a faster, more secure, and straightforward payment process. The convenience of using Apple Pay for crypto transactions is expected to encourage more frequent and less cumbersome trading activities.

The Broader Impact

The collaboration could serve as a catalyst for other tech and financial giants to explore similar integrations, potentially leading to a broader acceptance of cryptocurrencies in everyday transactions. However, it’s important to note that while Apple Pay can now be used for buying crypto, it does not yet support selling or converting crypto back into fiat through this method, showing that while the integration is innovative, it’s a step in what might be a longer journey towards full crypto-fiat interoperability.

Conclusion

Coinbase’s partnership with Apple Pay is a testament to the evolving landscape of digital finance where traditional and new-age technologies are merging to create more accessible, secure, and efficient financial systems. As cryptocurrencies continue to gain traction, such integrations could play a crucial role in normalizing digital assets within the mainstream economy. This development not only underscores Coinbase’s commitment to enhancing user experience but also reflects Apple’s nuanced shift towards embracing the crypto industry, potentially foreshadowing further innovations in this space.

This integration is not just about simplifying transactions; it’s about shaping the future of how we interact with money, blending the security and convenience of established payment methods with the innovation of blockchain technology.