Autor Cointelegraph By Brian Newar

Nifty News: Grow-to-earn with Snoop — and is Dorsey’s tweet priceless or worthless?

Nifty News: Grow-to-earn with Snoop — and is Dorsey’s tweet priceless or worthless?

Uverejnil používateľ | apr 21, 2022 |

The nonfungible token (NFT) of the first ever tweet made on Twitter by founder Jack Dorsey is currently struggling to attract a bid even 1% of its sale price last year.The iconic “genesis tweet” was sold for 1,630 Ether (ETH) valued at $2.9 million about a year ago on March 22, 2021. The highest current bid for this attempt to auction it is 10.3 ETH worth about $31,739 on NFT marketplace OpenSea.The nonfungible token (NFT) of the first ever tweet made on Twitter by founder Jack Dorsey is currently struggling to attract a bid even 1% of its auction price last year.The genesis tweet made on Twitter by founder Jack Dorsey.Its owner, Bridge Oracle founder Sina Estavi hoped the tweet would generate at least $50 million dollars, half of which he said he would donate to charity after closing the auction in an April 7 tweet. I decided to sell this NFT ( the world’s first ever tweet ) and donate 50% of the proceeds ( $25 million or more ) to the charity @GiveDirectly ‌‌‌‌‌‌https://t.co/cnv5rtAEBQ pic.twitter.com/yiaZjJt1p0— Estavi (@sinaEstavi) April 6, 2022Estavi appears to have grossly overestimated the amount of money the tweet would sell for. When he initially listed the item on OpenSea, the highest bid was valued at about $277. Currently, the average bid is for about $8,731. Low interest in this piece of social media history may be a symptom of a general decline in frothiness across the crypto industry. Although NFT trading volumes have been rising over the past month, they are still far from all-time highs. Volumes on Bitcoin (BTC), ETH, and on decentralized exchanges (DEX) have also been dropping off.Using NFT art to support Ukrainian refugeesFour Ukrainian artists living in Sydney are using the popularity of digital art in NFT form to generate funds to aid over five million refugees from the embattled nation.The OpenYourHeart campaign hopes to collect at least $5 million from the sale of four limited-edition NFTs and from ETH donations to Habitat for Humanity, a house-building charitable organization. The art will be sold at a May 5 auction.One of the artists in the quartet, Olena Vigovska feels that this auction gives her a way to help her friends and family in her home country. “My friends and relatives are still back in Ukraine and any opportunity to help them is precious.”NFT art Towards the Light by Ukrainian refugee Tetiana Koludenko.Among the four works of art will be three paintings and one photograph that heavily incorporate the colors blue and yellow like the national Ukrainian flag. The auction will take place online and the gallery is based in Australia.First WNBA team to issue NFTsThe New York Liberty WNBA team will kick off its 26th season in the league with an NFT drop to commemorate its home opener against the Connecticut Sun on May 7.Proud to be the first #WNBA team to launch an #NFT. Nail art. Digital art. 2022 season. 1/3 pic.twitter.com/tIcrSu8PAj— New York Liberty (@nyliberty) April 18, 2022

The collection of 400 NFTs will be minted before game time and sold on Polygon for $50 each. Buying a ticket to the game and whitelisting your wallet address by May 1 will see you awarded the NFT for free. Ticket prices start at $55.Each NFT depicts a spinning numbered nail polish bottle that says it is from the home opener for the team.OKcoin to launch an NFT marketplaceCrypto exchange OKcoin is set to launch its own NFT marketplace which it says will have zero fees and no limit on the royalties creators can earn on secondary purchases.OKcoin CEO Hong Fan announced the marketplace on April 19 and said the exchange would drop an exclusive NFT collection which members of the waitlist will get first crack at.By lifting the cap on creator royalties, Fong said that the marketplace will further “empower creators with NFTs in the same way that blockchain technology empowers financial freedom with cryptocurrency.”Snoop to grow greener pasturesCrypto investor and marijuana connoisseur Snoop Dogg is combining two of his passions by partnering with the MOBLAND Metaverse platform to cultivate weed farms.MOBLAND plans on releasing a limited collection of digital weed farm NFTs along with content from NFT artist Champ Medici. The weed farms will introduce the concept of grow-to-earn to the platform as well, which offers special utility and benefits to owners of digital land.Other Nifty NewsAmerican crypto exchange Coinbase has launched the beta version of its long-awaited NFT marketplace. The limited functionality will currently allow early testers to buy and sell NFTs, and create online profiles.Crypto exchange Kucoin’s venture capital division has committed $100 million to help artists and creators scale up their business operations to larger audiences. The funds will be tied in with the exchange’s own NFT marketplace, putting it in competition with OKcoin and Coinbase’s own similar marketplaces.

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Crypto focused SPAC raises $115M in Nasdaq IPO

Crypto focused SPAC raises $115M in Nasdaq IPO

Uverejnil používateľ | apr 20, 2022 |

Aura FAT Projects Acquisition Corp. (AFARU), a special purpose acquisition company (SPAC), has closed its IPO on Nasdaq and raised $115 million, with a focus on crypto industry assets.The Cayman Islands-incorporated SPAC raised an impressive $100 million during its April 13 initial public offering (IPO) plus an over-allotment of $15 million, bringing its total to $115 million according to an announcement from the firm on April 19.It also has funding from sponsorships with Singapore-based financial services firms Aura Group and Fat projects. The SPAC’s website states that it has a presence in Australia, New Zealand, Singapore, Indonesia, Vietnam, Thailand, Malaysia, and the Philippines.Aura FAT will target acquisitions in the blockchain sector as it has a stated interest in emerging technology companies that deal with Web3, crypto, digital ledger, and e-gaming assets. On April 1, the Bitcoin (BTC) mining company PrimeBlock announced its merger with the 10x Capital Venture Acquisition Corp II SPAC. The merger is valued at $1.3 billion and will make PrimeBlock a publicly traded company.Related: Self-regulatory organizations growing alongside new US crypto regulationLate in March, the Thunder Bridge Capital Partners IV SPAC merged with the Japanese crypto exchange Coincheck to form the Conicheck Group N.V. The merger is valued at $1.25 billion and is expected to be listed on Nasdaq in the second quarter of this year.

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Australia’s first Bitcoin ETF could attract $1 billion after launch next week

Australia’s first Bitcoin ETF could attract $1 billion after launch next week

Uverejnil používateľ | apr 20, 2022 |

Financial regulators have greenlit Australia’s first Bitcoin ETF to begin trading on April 27 and the Australian Financial Review reports it could see up to $1 billion in inflows.An ETF is a regulated exchange traded fund that allows investors to benefit from the price of Bitcoin (BTC) without needing to own any coins themselves directly.Cosmos Asset Management beat out local contenders VanEck, BetaShares, and EFT Securities to issue Australia’s first Bitcoin ETF. Each firm has been in the running to close out regulatory approvals since at least March, according to the Sydney Morning Herald.The Cosmos Asset Management Bitcoin ETF will be listed on CBOE Australia with approval from the Australia Securities Exchange (ASX) Clear capital markets clearinghouse. Approval was made after Cosmos landed the minimum four market participants to support the 42% margin requirements needed to cover risk according to an April 19 article by the AFR.The Cosmos Bitcoin ETF offers indirect exposure to spot Bitcoin investing through the Canadian Purpose Bitcoin ETF. Trader at Australian wealth management firm Zerocap, Kurt Grumelart, called the ETF approval “exciting” and commented that it “validates further institutional adoption” following the record breaking launch of the Betashares CRYP fund, which invests in crypto-exposed US Shares. On its launch in Nov 2021 the fund saw $10M of net inflows within the first ten minutes.Grumelart expects the new Bitcoin ETF to be similarly successful“The event marks a large step forward for Australia and mainstream acceptance of the crypto industry as a whole.”Grumelart predicted that a successful launch will lead to an influx of other players. “If overseas markets are any indication, it is likely that a successful launch will lead to a host of listings for crypto asset based funds outside of Bitcoin,” he saidThis will be the second crypto related ETF from Cosmos since last year when the firm issued its Global Digital Miners Access ETF.Australian regulators have been working to hammer down clear-cut rules for the crypto industry over the past year. The Australian Securities and Investments Commission (ASIC) wants more authority over the industry, but Senator Andrew Bragg thinks that is inappropriate until cryptocurrency is recognized as a financial asset under Australian law.Related: Aussie opposition under fire as election looms: ‘7 words is not a crypto policy’Grumelart said he believes clarifying the rules will aid the development of the industry. “As the new ASIC regulations come out governing crypto assets, we expect greater clarity for local custodians and service providers, opening up this as an avenue within the coming year.”“As the new ASIC regulations come out governing crypto assets, we expect greater clarity for local custodians and service providers, opening up this as an avenue within the coming year.”

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More volatile than Bitcoin? Netflix shares plunge 25%

More volatile than Bitcoin? Netflix shares plunge 25%

Uverejnil používateľ | apr 20, 2022 |

The stock market has once again made crypto look stable by comparison with the Netflix (NFLX) stock price dropping 25% in after-hours trading tod.The news that sparked the dramatic tumble was the revelation on Tuesday that the streaming service has lost 200,000 customers in the first quarter of 2022 and projects it will lose a further two million subscribers this quarter. This marks the first time the company has tallied losses in user numbers since 2011 according to Bloomberg.Investors reacted by dumping NFLX shares in after-hours trading, causing prices to crash to a new yearly low of $258.90. When trading opens for the day at 1:30pm UTC on April 20, it is unclear what price the stock will open at. Such price action has drawn some glee from the crypto community who have long faced criticism from traditional investors that crypto is too volatile. Crypto analyst and host of the YouTube channel Into the Cryptoverse Benjamin Cowen tweeted to his 622,000 followers today that the NFLX crash reminds him of “how stocks became more like #crypto, rather than the other way around.”Watching $NFLX drop -26% after hours reminds me how stocks became more like #crypto, rather than the other way around— Benjamin Cowen (@intocryptoverse) April 19, 2022The NFLX stock price has performed worse in 2022 than Bitcoin (BTC) has this year. NFLX has lost 57% since Jan 1, 2022 when it was at its height for the year at $597.37. By comparison, BTC is down 11% overall since its 2022 opening price of $46,319 to $41,288 according to CoinGecko. Other tech stocks have seen crypto-like daily losses this year. On Feb. 2, PayPal (PYPL) dropped 20% from $172.77 to $139.89. On the same day, Meta Platforms (META) — fomerly Facebook — dropped 25% from $327.82 to $244.65.But before crypto pundits get ahead of themselves, it must be noted that Bitcoin has fallen harder than those tech stocks during previous crypto market crashes. The last time BTC fell at least 25% in a single day was March 12, 2020, when it fell 41% from $7969 to $4776.Related: Meta may introduce tokens and digital currency lending services to apps: ReportAnalysis carried out by crypto research firm Into The Block and released on April 16 found that BTC and Ether (ETH) “have been less volatile than many stocks, especially those with crypto offerings.”Its analysis used the Sharpe ratio to compare volatility across different investments. The lower the score, the less volatile the asset. Bitcoin received a score of -0.02, while Square (-0.05), MicroStrategy (-0.02), and Coinbase (-0.02) either matched on underperformed BTC.Lower Returns, More Volatility – Contrary to popular belief, $BTC and $ETH have been less volatile than many stocks, especially those with crypto offeringsThe Sharpe ratio accounts for returns relative to price volatility. Here, most crypto companies match or underperform BTC pic.twitter.com/sV0QSsCR6J— IntoTheBlock (@intotheblock) April 15, 2022

Host of the Coin Stories podcast Natalie Brunell tweeted today that Netflix might be able to solve some of its current problems by adding BTC to its balance sheet.Maybe $NFLX should get some #Bitcoin content (and BTC on its balance sheet). ‍♀️— Natalie Brunell (@natbrunell) April 19, 2022

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Crypto startup Blockchain dot com planning 2022 IPO

Crypto startup Blockchain dot com planning 2022 IPO

Uverejnil používateľ | apr 19, 2022 |

Crypto exchange and block explorer Blockchain.com has begun talking with American banks to explore how it may hold an initial public offering (IPO) as soon as this year.Bloomberg reported on April 19 that sources familiar with the situation said that the talks were merely preliminary conversations and that the tech startup’s plans could change at any time.If it succeeds in going public with an IPO, it would be only the second crypto exchange in the U.S. to pull off the feat. Coinbase was the first to go public in 2021 at an opening price of $381 per share of COIN with a valuation of nearly $100 billion. Blockchain.com is currently valued at about $14 billion following a funding round with global venture capital firms. Blockchain.com is a cryptocurrency financial services company that began as the first Bitcoin block explorer in 2011 and later created a popular crypto wallet application.The race to be the second public crypto exchange in the U.S. is now on. Binance.US, the American branch of the largest crypto exchange in the world, also plans on going public as soon as it can demonstrate independence from the primary exchange according to founder, Changpeng Zhao. Aiding in the exchange’s efforts is a recent $200 million seed round of funding that awarded it a pre-money valuation of $4.5 billion. Related: Blockchain.com launches asset management for institutional investorsRegulatory complications have been the main hindrance keeping crypto exchange juggernauts from going public in the U.S. Binance.US CEO Brian Shroder argues that the firm has a strong business and is working with local regulators to ensure it can list without complications.

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