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Major Dogecoin Twitter User Posts “Dogecoin Community Will Support Musk”

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Major Dogecoin Twitter User Posts “Dogecoin Community Will Support Musk”

Elon Musk does not need any introduction as he is a well-known figure worldwide. Moreover, his support for a meme-currency has made that token reach its peak. The CEO of Tesla, Elon Musk, was showing his constant support to Dogecoin through his tweets. Besides, Elon Musk’s support for DOGE was the trend for a few days on the Twitter platform. 

Dogecoin enthusiasts have become larger in number following Elon Musk’s support for DOGE and surprisingly, the price of DOGE will rise immediately after his tweet. Similarly, it has been days since Elon Musk’s tweet has gone viral regarding Dogecoin. But now, a Twitter user has posted that the Doge community will support Elon Musk.

Tweet States “Mutually Beneficial Relationship”

A Twitter account with a Dogecoin profile @itsALLrisky which has over 183,000 followers has posted that the support for Elon Musk won’t be unnoticed. The tweet also states that Tesla’s CEO support for DOGE is a “mutually beneficial relationship”. This refers to the support from the dogecoin community to Elon musk would never fade.

The photo on the tweet was Boris Vallejo with Atlantis holding the Earth. Elon Musk’s face appears on the giant, and a Shiba Inu Doge character stands nearby, offering assistance.
However, at the beginning of this week, Musk endorsed the idea of the AMC cinema chain accepting Dogecoin as payment. Moreover, he tweeted to reduce the fees of Dogecoin earlier this week. If Musk again starts to show his support to Dogecoin through posts then the price may hit its new ATH soon. Gradually, Dogecoin might also lead the crypto market with its step towards heights.

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VeChain Foundation Announces Vote To Implement Upgrade

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VeChain VET

Via their Twitter handle, the VeChain Foundation announced the start of the voting process that will allow the community to decide to implement or reject a major update to their network: Proof-of-Authority (PoA) 2.0. This upgrade could usher a new wave of blockchain “mass adoption”, the announcement said.

As NewsBTC reported, the PoA 2.0 upgrade will eliminate the tradeoffs of the Nakamoto Consensus and Byzantine Fault Tolerance (BFT) consensus implemented on cryptocurrencies such as Bitcoin.

Related Reading | VeChain And DNV Launch First Blockchain-based IVF Service App

If approved via the voting process, the upgrade will enable blockchain VeChainThor to benefit from a high throughput capability. In addition, the PoA 2.0 upgrade will bring guaranteed data finality to the network to attract more companies and high-volume use cases without compromising its security. The Foundation said:

(…) the VeChain Research and Development teams have been working on a massive upgrade of the VeChainThor blockchain called SURFACE (PoA 2.0), standing for a Secure, Use-case-adaptive, Relatively Fork-free Approach of Chain Extension.

The VeChain Foundation believes this update will allow the blockchain VeChainThor to “lead the pack on the road to mass adoption due to the development of many revolutionary technologies”. If approved the PoA 2.0 will operate as one of the first “combined consensus mechanism”.

The voting will take place from October 11 at 10:00 pm (UTC+8) to October 18, 2021, at 10:00 pm (UTC+8). The authority masternodes and Economic X nodes will have a 40% voting authority each, while the Economic nodes will have a 20% voting authority.

Related Reading | Why The VeChain Foundation Met With China’s Government Officials

These entities will have to confirm or reject the implementation of the PoA 2.0 in its first phase, to introduce the Verifiable Random Function (VRF) as a source of randomness.

Part of the VIP-193, this mechanism will “balance the unpredictability and the unbiasedness” of the block production on the blockchain VeChainThor to increase its level of security. The foundation claimed:

After months of testing by the core team, as well as our partners and community developers, we are now confident that this upgrade is ready to be deployed on the main net.

Potential Impact On The Price Of VeChain (VET)

As seen below, the VeChain Foundation disclosed their roadmap for the implementation of the PoA 2.0. Much of the progress on the testnet has been achieved with similar progress on the mainnet route.

Source: VeChain Foundation

The Foundation called on every stakeholder on the blockchain VeChainThor to cast their vote. In that way, the implementation of PoA 2.0 can continue to make progress.

Only after a successful vote by all stakeholders, an implementation on our main net can take place, and that’s why we need your vote! Voting can be done by all those that are eligible using Sync or the VeChainThor mobile wallet.

VET has failed to positively react to the announcement by the VeChain Foundation. In the daily chart, VET records a 2.9% loss trading at $0,11, at the time of writing.

VeChain VET VETUSDT
VET with minor losses in the daily chart. Source: VETUSDT Tradingview

VET’s current price action could be driven by Bitcoin recent move to the upside reaching into May’s highs. In the coming days, most of VET’s price performance will be determined by the BTC Dominance.

Related Reading | This VeChain Partnership Will Enable VET Holders To Buy On Ebay, Amazon And Others

In that sense, holders could take up the opportunity to increase their holdings as VeChain enters a key channel, as pointed out by analyst Justin Bennet:

VET continues to coil above its long-standing channel support. The fun begins above 0.155. I’m using this time to accumulate.

VeChain VET VETUSDT
Source: Justin Bennett via Twitter

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FTX CEO Sam Bankman-Fried Reveals Reason Behind Billions Of Dollars Tether Purchase

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Picture of FTX Exchange CEO Sam Bankman-Fried

The come-up of the FTX cryptocurrency exchange has been one of the most inspiring stories out of the crypto space. Its success put its CEO Sam Bankman-Friend on the path to become one of the richest crypto billionaires. The 29-year-old was featured on the Forbes 2021 List of 400 Richest People In America, which saw the CEO named as the richest crypto billionaire.

Although FTX has had an impressive track record, the road to the present was not always an easy one. CEO Sam Bankman-Fried opened up on some of the challenges the exchange encountered when it had opened its doors for business. In a piece on Bloomberg Businessweek, the CEO revealed that the crypto exchange had faced significant challenges in getting the banks onboard.

Turning To Tether

CEO Bankman-Fried told Bloomberg that the company had major problems with getting the banks to work with them. This was because banks are very skeptical about working with crypto-related institutions due to regulatory problems and had refused to work with his exchange. “If you’re a crypto company, banks are nervous to work with you,” Bankman-Fried said.

Related Reading | Value Of Ethereum Held By Miners Reaches Five-Year Record Levels

Taking this in stride, the CEO had turned his attention to something else; Tether. Its ease of use made it the obvious choice for the cryptocurrency exchange in light of its bank issues. Hence, investing in the stablecoin had been the solution to this problem. Tether allowed FTX customers to transact and trade on its platform, and the company could hold Tether instead of going through the hassle of converting crypto to U.S. dollars.

USDT price holding steady to dollar | Source: USDTUSD on TradingView.com

Bankman-Fried revealed that the company had purchased billions of dollars of USDT in order to help users trade on their platform. But has clarified that the crypto exchange does not actually treat the stablecoin like it does the dollar.

Battling It Out With The Law

Tether has been in various long-running legal battles. The company has been accused of circumventing laws and bank fraud, which resulted in a probe from the U.S. Department of Justice. Another class-action lawsuit had been filed against the stablecoin issuer, but Tether had emerged victorious in what it called “a clumsy attempt at a money grab.”

Related Reading | Why A Parabolic Move Is Expected For Bitcoin, Billionaire Mike Novogratz

Most of Tether’s woes have been linked to how much of its issued coins are backed by real currency. The stablecoin issuers claim that the coins are 100% by cash and cash equivalents but investors are wary of this as data shows that only about 2.9% of all issued coins are backed by cash reserves. The largest of its backing is in commercial papers, which account for about 65.4% of Tether’s reserves.

Despite these, Tether still remains a top 5 cryptocurrency by market cap. It boasts the highest number of trading pairs in the crypto market and has a market cap of $68 billion.

Featured image from Decrypt, chart from TradingView.com
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Coinovy: Your Solution to Everything Crypto

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coinovy

The unprecedented growth of digital assets and their trading in the past few years came as a pleasant shock to the global financial markets. As of October 2021, the total crypto market cap is comfortably sitting at over $2.1 trillion, with 300 million users spread across the globe. These numbers might seem huge at first, but on further inspection, we realize that they are minuscule in comparison to our traditional financial systems.

Even after cryptocurrencies successfully stood the test of time and flourished in the wake of the pandemic, their adoption rate seems to be low. This is mostly because of their lack of accessibility and liquidity. The truth is that the complex processing involved in the buying, selling, storing, and trading of cryptocurrencies deters people from getting involved in the decentralized space. Wallets like Metamask, where users can buy and store cryptos, are not user-friendly and DEXs do not accept fiat payments. So, beginners are only left with centralized exchanges to buy crypto from. To make things worse, users are forced to rely on too many platforms for their different needs in the crypto space, which becomes extremely difficult to manage.

However, these centralized exchanges, as we’ve seen recently, have some serious security issues, and a single hack can wipe off all users’ assets. These factors combined make digital assets unappealing to beginners. But, we now have a solution to all these accessibility woes in the form of Coinovy.

The All-Rounder Wallet

Coinovy is an all-in-one cryptocurrency wallet application that aims to make cryptocurrencies easily accessible to the masses. Through its all-inclusive interface, the platform aims to minimize the friction for everyone to buy, sell, store, trade, insure, shop, and withdraw cryptocurrencies. It is built so as to lower the barriers to entry for beginners while still ensuring that it effectively caters to the needs of seasoned crypto users.

The Coinovy wallet acts as an excellent bridge between the traditional finance and digital asset worlds to ensure seamless transfer of funds. As a multicurrency wallet, it supports a variety of digital assets including BTC, ETH, and LTC, meaning that users no longer have to rely on multiple wallets to store their assets. What stands out the most, however, is the crypto-to-fiat conversions that Coinovy facilitates. Users can withdraw the crypto assets stored on Coinovy wallet to a global VISA-powered debit card and spend it anywhere with ease. This debit card can also be linked to Apple Pay, making it even easier to spend cryptos.

Apart from being a crypto wallet, Coinovy is a crypto exchange that features more than 100 exchange pairs so users can easily trade their tokens of choice. Furthermore, users of Coinovy are assigned an International Bank Account Number (IBAN) that makes it easy for them to transfer funds across the globe to over 150 countries. For those worried about the safety of your assets on this platform, Coinovy has partnered with BitGo to insure user assets and compensate them in case of a security threat.

With these features, Coinovy sorts the accessibility problem, but that’s not all. Coinovy has a lot more to offer to the crypto world.

Considering the problem of interoperability that is prevalent in the crypto world, Coinovy has created a bridge that facilitates cross-chain transactions between Binance Smart Chain and Ethereum. The platform also provides instant loans of up to $5000 to users against their crypto holdings in a bid to help them fund other ventures of their life without having to lose their crypto by selling etc?. Or, users who have their crypto assets lying idle can stake them directly on Coinovy and earn handsome incentives. Apart from this, Coinovy also helps investors grow their assets with AI-based predictions and forecasts on asset values.

Coinovy Token

To power the platform and to settle transactions, Coinovy has a native token called C2F. This ERC-20 token has a maximum supply of one billion C2F and serves as a payment method on the platform, alongside all the other supported cryptocurrencies. The holders of the C2F token are entitled to various incentives and discounts provided on the Coinovy platform. They can also use it for paying fees, purchasing goods and services, exchange listing, staking, and advertising on the Coinovy platform.

What Does the Future Look Like?

With cryptocurrencies growing in popularity by the day, we now have so many new users looking to make their way into the world of decentralization. To all of these new users, Coinovy comes as a welcome windfall. It lowers the walled gardens of the crypto ecosystem to make it more accessible to everyone across the globe. If implemented well, Coinovy could become key to the mass adoption of cryptocurrencies.

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Ojamu Launches on Uniswap After Successful IDO Launch

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Panther and BUMPER Protocol announce partnership to provide seamless DeFi user experience

Singapore, Singapore, 11th October, 2021,

Ojamu is excited to announce the listing of its native OJA token on the Uniswap platform, after selling out its IDO in minutes in the first ever triple-IDO on the PAID/IGNITION Global, Asia and India platforms. The Uniswap listing marks an essential milestone for the MarTech platform which leverages Ai (Artificial Intelligence), NFTs (Non-Fungible Tokens), and Blockchain technology, enabling Brands to reach their digital marketing goals.

Ojamu, a MarTech platform bringing the power of Blockchain, Ai, and NFTs to empower Brands in both the Blockchain/Crypto and non-Blockchain business spaces, has successfully listed its OJA token on Uniswap, a leading  decentralized global exchange providing several potential trading pairs for the $OJA token. 

The OJA token has been successful throughout its early lifecycle thus far. Ojamu raised $1.7 million through an oversubscribed private sale earlier this month. The private sale participants included Ascensive Assets, A195, Protocol Ventures, Moonrock Capital, MarketAcross, Master Ventures, Morningstar Ventures, X21, Rarestone Capital, Waterdrip Capital, Chain Capital and others.

The IDO sale of $OJA occurred through multiple PAID/IGNITION launchpads. First, members of these platforms could acquire the token through an Initial DEX Offering (IDO) across Ignition, PAID Network India, and PAID Network Asia. Ignition is PAID Network’s decentralized swapping protocol to help Blockchain service providers organize private and public auctions for tokens. During the IDO, investors could acquire tokens for a price of $0.1180. 

About Ojamu

Built to be interoperable across leading blockchains such as Ethereum, Polygon, Polkadot and Solana, Ojamu is a Singapore-based MarTech platform that automates and optimizes digital marketing campaigns across any industry vertical, utilizing real-time data, AI and blockchain technology.

Ojamu enables Brands to reach their digital marketing goals with data-driven predictions and recommendations across all digital channels, both in the blockchain and ‘traditional’ business space.

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Top 7 Crypto Cannonballs for the Week!

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Top 7 Crypto Cannonballs for the Week!
  • Several altcoins outperformed for the past 7 days.
  • Shiba Inu (SHIB) tops the chart for the week.
  • Month of October predicts a major crypto market boom.

The month of October 2021 has been really promising so far. Most of the cryptos performed well to date ever since the start of October. Amidst all this, several altcoins outperformed efficacy. 

With such a profuse month so far, many analysts term that the month of October is to be full of prosperity for the crypto industry. The following list is the top 7 altcoins with the high gains for the past week. Also, these are said to perform impeccably for the rest of the month, as the graphs suggest. 

  1. Shiba Inu (SHIB)

The meme-based Dogecoin (DOGE) killer, Shiba Inu (SHIB) has performed astonishingly since the start of the month. Accordingly so far, SHIB has surged to about 228.8% taking the past 7 days into consideration. Also, now the price stands at $0.0000265 at the time of writing. 

Moreover, many predict that SHIB is said to follow the same surging upwards trend till the end of October. 

  1. Monsters Clan (MONS)

The second highest gainer for the week is the Monsters Clan (MONS). This altcoin is the native token of NFT based blockchain gaming platform Monster Clans. Being just started last month, the performance till date has been quite like a cat on the wall. Besides, last week onwards the altcoin surged up profusely reaching its all-time high of $2.57. 

In addition, the overall gains for the past 7 days amount to about 183.8%. Quite a thrusthy start for a new token though!

  1. Standard Tokenization Protocol (STPT)

The Standard Tokenization Protocol (STPT) is a completely decentralized platform dedicated to the management of digital assets on various bases. The native token of the platform STPT reached its all-time high of $0.27, a few days back this week. In spite of this, the gain rate for the past 7 days approximates to about 122.8%. Also, now the price stands at $0.13 facing a certain decline on the day of writing. 

  1. Lossless (LSS)

The Lossless (LSS) has been steadily on a green graph throughout the past 7 days rising up profusely. The gain momentum for the past week is about 90.4%. Right now the price of LSS stands at $0.45.

  1. Stacks (STX)

The fifth highest gainer for the week is the Stacks (STX). The STX rose to about 72.4% for the past week overall. The layer one blockchain smart contract platform’s token price is now about $2.29 at the time of writing.

  1. Secret (SCRT)

The Secret blockchain network works towards establishing security to the smart contracts. Accordingly, the native token of Secret is the SCRT. The SCRT has shown only bulls throughout the past 7 days. In spite of this, the overall gains for last week amounted to 71.4%. The price of SCRT now stands at $5.02. 

  1. QuarkChain (QKC)

The last in our top 7 crypto cannonballs for the week is the QuarkChain (QKC). The QuarkChain is a decentralized blockchain services provider platform, with QKC as its native token. The QKC has surged about 69.3% throughout the past 7 days. In spite of this, the price of QKC now stands at $0.034. 

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Bitcoin (BTC) Price Expected to Fall With Launch of BTC ETF!

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Bitcoin (BTC) Price Expected to Fall With Launch of BTC ETF!
  • Current Price of BTC around $55K solidly.
  • BTC Exchange Traded Fund (ETF) is expected to be launched very soon.
  • BTC ETF once launched will dwindle the price of BTC down.

The beat around Bitcoin (BTC) is always a hot topic in the crypto industry. This is owing to the fact a solid portion and majority of the crypto industry is based solely on BTC. Indeed, recent times have been quite promising with the BTC. BTC crossed the $55K mark about a few days back, in the first week of October 2021. 

In spite of all this, the BTC Exchange Traded Funds (ETF) is expected to be launched very soon. This would be probably around the 3rd week of October 2021. With such a short period, many expect different outcomes upon the launch of BTC ETF.

 Apart from this, once the Securities and Exchange Commission (SEC) approves the BTC ETF, soon other attributes like BTC-based contracts and much more are expected to follow. Crypto analysts believe that this will lead to another all-time-high (ATH) for BTC, whereas others believe it will be vice versa. 

Analysts Predict BTC Surges with ETF

The SEC will almost completely approve the BTC ETF by October 20. In such terms, indulging the BTC to be traded like a stock upon the stock exchanges multiplies the outcomes in many aspects. 

Upon such approvals, the overall investment in BTC will rise again fueled by stocks profusely. This will in turn raise the price of BTC furthermore. 

Accordingly, many analysts term, likewise for the fourth quarter of BTC in 2020, BTC will reach its ATH in 2021 too. 

Fear of BTC Downfalls

On the contrary, certain CEOs of various financial institutions term that the recent surge of BTC price is completely driven by institutions and firms. On such a basis, the prices of BTC will not remain stable for a longer period. 

In addition, the approval of the BTC ETF many financial institutions CEOs predict will only lead to the dwindling down of BTC, same as at the end of 2020. 

Furthermore, the CEO of Pantera Capital, Hedge fund manager, Dan Morehead sarcastically says to buy such rumors and at the same time to sell the news in regards to BTC ETF.

Also, Morehead comments to remind him when the BTC ETF gets approved. This is so that he could move away from his BTC investments safely or even withdraw a major portion!

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TA: Ethereum Breaking This Resistance Could Spark a Significant Surge

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Ethereum

Ethereum corrected lower below $3,500 against the US Dollar. ETH price remained supported and it is now eyeing a key upside break above the $3,650 resistance.

  • Ethereum started a fresh increase above the $3,500 resistance level.
  • The price is now trading above $3,550 and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $3,560 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could gain bullish momentum once there is a clear break above $3,640 and $3,650.

Ethereum Price Eyes Key Upside Break

Ethereum started a downside correction from the $3,634 swing high. ETH traded below the $3,550 support level and the 100 hourly simple moving average.

However, the price remained well bid above the $3,350 support. A low was formed near $3,375 and the price started a fresh increase. There was a clear break above the $3,500 and $3,550 resistance levels. Ether surpassed the 50% Fib retracement level of the downward move from the $3,634 swing high to $3,375 low.

There was also a break above a key bearish trend line with resistance near $3,560 on the hourly chart of ETH/USD. The pair is now trading above $3,550 and the 100 hourly simple moving average.

Source: ETHUSD on TradingView.com

It is also well above the 76.4% Fib retracement level of the downward move from the $3,634 swing high to $3,375 low. An immediate resistance on the upside is near the $3,600 level. The first major resistance is near the $3,620 level.

The next major resistance is near the $3,650 level, above which the price might start a fresh surge. In the stated case, the price could climb towards the $3,720 level. The next key resistance might be $3,800.

Dips Limited in ETH?

If ethereum fails to continue higher above the $3,620 and $3,650 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $3,550 level.

The first key support is now forming near the $3,520 level and the 100 hourly simple moving average. Any more losses could lead ether price towards the $3,400 support zone.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 level.

Major Support Level – $3,500

Major Resistance Level – $3,650

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Dohrnii Academy – A Novel Education Ecosystem for Crypto Investors

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Dohrnii

Dohrnii Academy bridges the gap between novice investors and the crypto market by providing a diverse learning curriculum that is immersive, intuitive, and engaging. The Academy serves as a bridge for investors who want to enter the crypto space but want to learn the basics before diving headfirst.

The Academy’s tenets are deeply rooted in its belief that financial empowerment is a fundamental right. They believe that the current education system is not adapted to the needs of the younger generations and that money management is a topic that is often overlooked in the traditional curriculum. The Dohrnii Foundation uses a deeply gamified approach to learning which also rewards users as they complete tests and quizzes. They call this learn-to-earn. Their system stands out as a game-changer in the education space as they reverse the traditional monetary flow, which usually makes the student pay-to-learn.

Features of Dohrnii Academy

Most first-time investors enter the crypto market with limited knowledge about this space, what moves the market or why it does so. The Dohrnii Foundation places the emphasis on giving access to high-quality content about what they believe to be fundamental bricks of any successful investor’s house: economics, finance, cryptography and blockchain; these are the modules the platform will focus on in the first phase of the project.

Built around these topics is a whole suite of features that the platform will offer.

  • Lessons – This feature focuses on two modules; the first is economics and finance, the second is cryptography and blockchain. The Dohrnii Foundation teamed up with university professors and lecturers to create high-quality lessons and ensure that the curriculum and the themes covered are on par with the best schools and universities. This section is also where you will find the learn-to-earn feature. As users progress along with the curriculum, they go through checkpoints to unlock different types of tests. If they succeed, they get rewarded with tokens.
  • Gamified learning – The Dohrnii team has put a lot of effort into ensuring an engaging and fun experience for the learner. Gamification of the learning boosts productivity through various elements such as peer competition, teamwork, point-scoring, and knowledge testing. The platform has several features focused on augmenting the experience of the learner, one of which is a “challenge” feature that lets users play and test their knowledge against each other, which could be fun!
  • Strategies and Investment Concepts – The platform is also an excellent tool for investors to learn or refresh their memory about crucial investment strategies and concepts. This section lets users navigate some of the most common methods, outlining the biggest mistakes people make while implementing them. They also show you the best investors in the world at that strategy; they call it “The best in the game” section.

Dohrnii stands out for everyday crypto users

The Dohrnii Academy sets itself apart as an education platform for equipping first-time investors and seasoned experts with financial literacy and the knowledge they need to improve their chance of success. Using innovative methods enables the platform to cater to both newcomers and more sophisticated investors by giving each of them an incentive to learn more about aspects of the market and develop their skills further. The platform is truly a revolutionary system as it uses the power of gaming to teach you something that will make a difference in your life.

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Forget NFT Avatars, Owning and Trading NFT Colors Could Be the Next NFT Trend on OpenSea, Rarible and Foundation

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Forget NFT Avatars, Owning and Trading NFT Colors Could Be the Next NFT Trend on OpenSea, Rarible and Foundation

In brief

  • New NFT project, BitColors, wants to give users the ability to own and trade colors as NFT tokens.
  • Just like with CryptoPunks, early adopters may be in for some massive ROI.

NFTs are still such a big deal

Following Beeple’s $69.3 million NFT sales in March, the digital art market appears to have gone into an overdrive mode. In the first half of 2021, the market for non-fungible tokens (NFTs) surged to $2.5 billion. Comparatively, the sales volume of the global NFT market was $338 million in 2020.

From investors spending millions of dollars on CryptoPunks to digital artists churning out new NFTs at a record pace, one could assume that the frenzy is only just beginning. However, some industry experts have argued that the NFT flame will eventually burn out. For instance, Litecoin’s Charlie Lee predicts that the value of most non-fungible tokens will eventually crash to zero as supply overwhelms demand. He wrote:

“The problem with NFTs is that they are non-finite tokens. There is zero cost to create an unlimited number of tokens.”

For some context, a non-fungible token is a crypto asset used to represent a tangible or intangible item such as an image, in-game item, real-life artwork, or even real estate. The properties and ownership of the NFT are recorded on a blockchain, allowing it to be traded as a stand-in for the item it represents.

Will Investors Lose Money?

The current NFT landscape is primarily a proliferation of a few successful collections like CryptoPunks and several others. To a large extent, these copy and paste projects do not bring anything new, instead, they rely on randomly generated avatars. Lee is right to an extent based on this argument.

On the flip side, it would be wrong to dismiss the entire NFT market on the premise of the proliferation of digital art and several CryptoPunk wannabes. That being said, the next million-dollar NFT project may not necessarily be a 24×24 pixel art image of misfits and eccentrics or a collage of 5,000 pieces. It might be something entirely out of the box.

Innovation will rule the scenes

Speaking of out of the box, a new NFT project is looking past digital art. The project, known as BitColors, features a collection of 1,000 handcrafted NFT colors. Thus they are creating a rabbit hole where users are allowed to own and trade colors.

BitColors is introducing a new angle to the NFT frenzy as there are currently no other projects like this. Considering its early-mover advantage, early adopters may be able to replicate the success of projects like CryptoPunks in the form of an exponential ROI.

Every color in the collection is handcrafted, with no artificially predetermined traits with no soul in them. BitColors users have the freedom to decide the value of each color based on their own feelings. In general, this appears to be an art project that might catch the attention of auction houses like Christie’s, Hermitage, and Sotheby’s.

Another interesting aspect of BitColors is the fact that it has kept the size of its collection at a relatively small number. With just 1,000 NFTs, the project is priming the future value of its tokens by introducing an element of scarcity.

Conclusion

NFTs are definitely here to stay. The underlying tech behind the sector packs such immense potential. Even though the rave of the moment is to try to buy an NFT at a cheap price and flip it for massive profit, the future of the sector and possible use cases will likely extend beyond what we are already familiar with. In the long run, only projects that bring something unique to the table will stand the test of time.

 

Image by garageband from Pixabay

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India’s First Sports NFTs By Cricketer Dinesh Karthik

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India’s First Sports NFTs By Cricketer Dinesh Karthik
  • Dinesh karthik brings out India’s first sports NFTs.
  • These NFTs are based on Dinesh Karthik’s last ball six epic winnings.
  • Planned to be launched on October 12.

With many Bollywood actors bringing out their own non-fungible tokens (NFT), the NFT fever is all set high for India. In such terms, the famous and legendary cricketer Dinesh Karthik now enters the NFT league too. 

Last Ball Six NFT

Accordingly, Dinesh Karthik has made ready NFTs based on his epic last ball six victory over Bangladesh in 2018. This was during the Nidahas Trophy finals. It was a moment in history for Dinesh Karthik as he was under immense pressure. The match came down to 5 runs from 1 ball, to win the situation for India. 

With all the pressure built up with that single strike, Dinesh Karthik managed a six from the last ball, moving India to victory. 

Moreover, this NFT from Dinesh Karthik will become India’s very first sports-based NFT, once launched. In addition, the NFT will be an artwork and animation digitally rendered which will be of the last ball thrown, the strike by Dinesh Karthik, and also the celebrations after the six-hit. 

Furthermore, this NFT will be featuring Dinesh Karthik’s voicing of his mind thoughts, the pressure faced, and emotions while targeting the last ball for the six. Besides, the NFT will be launched on October 12 and will be sold at an auction though. 

Dinesh Karthik’s Views

Dinesh Karthik terms that particular moment as one of the greatest in his life. In order to preserve the essence of it and thought of making it immortal, Dinesh Karthik decided to make an NFT of it. 

In addition, the cricketer puts out that he wants everyone to feel the emotion and his struggles behind that last ball six hits. Also, he terms he wants to share the same with all his fans and most importantly to make the moment immortal.

Besides, Dinesh Karthik revealed that for this he made good use of the recent pandemic lockdown time to come up with this NFT project. The terms he has obviously done a vast amount of research and his brother-in-law, squash player Saurav Ghoshal helped him throughout the NFT journey. 

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