Nvidia Suffers Crypto Revenue Drop After New Ethereum Policy
- changes its policy to a proof-of-stake policy.
- Nvidia (NASDAQ:) suffers drop in cryptocurrency revenue after new Eth policy.
- In addition, for 14 consecutive years, each Oscar nominee for Best Visual Effects has used Nvidia technologies.
Nvidia suffered a drop in Crypto revenue after Ethereum decided to switch to a proof-of-stake policy. This new policy has been announced for some time now, but no action has yet been taken. However, this has been affecting the market since the announcement.
The American multinational Nvidia is still suffering a drop in revenue of more than 75%. Additionally, as is well known in the crypto community, Ethereum miners have made a lot of money over the past year as the price of the token hit an all-time high.
Nvidia’s top-tier gaming GPUs had been largely repurposed to mine Eth, but after the latest changes, the company is losing a large chunk of its crypto profits. Although one could suggest that it is not a fall.
In recent news, Nvidia celebrated that for 14 consecutive years, every Academy Award nominee for Best VFX has used NVIDIA technologies. The news was announced in a tweet on Nvidia’s official Twitter page (NYSE:).
For 14 consecutive years, every Best Visual Effects Oscar nominee has used NVIDIA technologies. From desert planets to magical dragons, discover how the latest technology, powered by #NVIDIARTX, is helping artists push creativity and bring stunning visuals to the big screen. https://t.co/b5MzjEKieP
— NVIDIA Design and Visualization (@NVIDIADesign) March 10, 2022
The 94th annual Academy Awards are set to take place on Sunday, March 27. The event will feature five nominees, including Spider-man: No Way Home, all of which embrace the latest technologies powered by Nvidia RTX.
Speaking on the occasion, Daire Byrne, Global Systems Manager at UK film, visual effects, computer animation and stereo conversion company, DNEG, said:
Every show we get is different from the last, and NVIDIA RTX with vGPU allows us to scale memory and performance specs up or down to meet the needs of our artists.
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