The crypto world has had a rough summer. Prices of bitcoin and etherium have plunged in recent months. NFT mania has cooled after the market became flooded with low-quality projects and scams. And regulators have begun cracking down on a slew of crypto companies that have allegedly engaged in dubious behavior and potential fraud.
Despite this dim outlook, over 500 people recently took over the campus of Idyllwild Arts Academy, a private arts boarding school in Idyllwild, Calif., for a weekend festival that local media deemed to be the “crypto Woodstock.”
The event was called FWB Fest, and the artists, writers, musicians, software engineers, start-up founders and creatives who gathered were all united through their membership in Friends With Benefits, a crypto-based online social club that you must purchase a token to join.
At FWB Fest, crypto’s downturn was welcomed. “I don’t think this festival would have worked six months ago,” said Alex Zhang, 26, one of Friends With Benefits’s...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...