Charles Hoskinson, the founder of Cardano (ADA), recently provided an update on talks surrounding the potential acquisition of Coindesk, the largest cryptocurrency news website. During his most recent ask-me-anything (AMA) session on YouTube, Hoskinson said that he had signed a non-disclosure agreement (NDA) and could not reveal details about where the discussions stand as of now. However, he did say that the much-talked-about deal was unlikely to take place.
Hoskinson also refuted rumors about acquiring American media behemoth CNN, stating that he has no interest in traditional broadcast media. Instead, the crypto mogul’s decision to potentially acquire Coindesk stems from his broader interest in bringing more innovation and journalistic integrity to the crypto media scene. He suggested turning various news pieces into non-fungible tokens to allow people to interact with them, arguing that it would be “really cool” if people could view each separate story as a living object.
The news of Coindesk’s potential acquisition comes after its parent company, Barry Silbert’s Digital Currency Group, was hit by the crypto crisis. Genesis, one of the DCG’s subsidiaries, is on track to file for bankruptcy after suspending withdrawals for users in mid-November. The acquisition price of Coindesk has been rumored to hover around $200 million.
The acquisition of Coindesk by Cardano would be a significant move in the crypto industry and could potentially shake up the media landscape. However, it seems like it is very unlikely now. Hoskinson noted that he doesn’t think he’s going to acquire Coindesk, but the process is still ongoing.
The idea of introducing non-fungible tokens to the media landscape is an interesting one. Non-fungible tokens (NFTs) are digital assets that are unique and not interchangeable. They are typically used to represent a digital asset, such as a song, artwork, or collectible. By introducing NFTs to the media landscape, readers would be able to interact with news pieces in a more engaging way.
For example, readers could purchase an NFT associated with a news story and receive exclusive content related to that story. This could include behind-the-scenes information, interviews with the story’s subjects, or even exclusive audio or video content. This could help to generate more revenue for news outlets, as well as providing readers with additional content related to their favorite stories.
It is unclear at this point whether or not the acquisition of Coindesk by Cardano will take place. However, it is evident that Hoskinson is interested in bringing more innovation and journalistic integrity to the crypto media scene. The introduction of NFTs to the media landscape could be a great way to do this, as it would allow readers to interact with news pieces in a more engaging way.
Overall, the potential acquisition of Coindesk by Cardano would be a major step forward for the crypto industry. It would provide readers with more access to reliable and accurate news, as well as the potential for new and innovative ways of interacting with news pieces. However, it seems like the acquisition is unlikely to take place, as Hoskinson has stated that he does not think he will be acquiring it. Regardless, the idea of introducing NFTs to the media landscape is an intriguing one, and one that could potentially revolutionize the way that readers interact with news stories.