crypto blog
Tezos scores $27M deal with Man United, Baby Doge backs Hoffenheim
Manchester United, one of the world’s most popular soccer (or football) teams is reportedly set to announce a multi-year training kit sponsorship by Proof-of-Stake blockchain platform, Tezos. First reported by The Athletic, the deal is apparently in excess of $27 million per year, allowing Tezos to place its logo on the team’s training uniform. Manchester United have reportedly finalized filming promotional material ahead of the official announcement. The report also speculates that the partnership may involve collaboration in the technology space, such as a Metaverse or other Web3 project. Tezos has made heavy investment into sports sponsorships. In May 2021, RedBull racing announced Tezos as its official blockchain partner. Tezos to build its first NFT fan experience which wa...
NFT battles: Nike takes seller of unlicensed NFT sneakers to the court
Popular sneaker maker Nike has started the “licensed NFT” wars by taking an online reseller called StockX to court for trademark infringement or sale of unlicensed nonfungible token (NFT) sneakers. According to a Reuters report, Nike has filed a lawsuit against the reseller in the New York Federal court demanding an undisclosed amount in damages and a halt of sales on such virtual collectibles. StockX reportedly started selling Nike sneaker NFTs in January and promised buyers they can redeem the real-world version of the sneakers in the near future. Nike in its 50-page complaint claimed StockX has sold nearly 500 NFT sneakers with the Nike branding which has dented their reputation and legitimacy. The shoemaker brand also alleged the NFT sneakers were being sold at inflated pri...
Bitcoin price bounces after Amazon stock gains 15% in US tech comeback
Bitcoin (BTC) recovered much of its recent losses on Feb. 4, but concerns remained that a retest of $30,000 was incoming. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $38,600 remains focal pivot Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to $38,000 Friday, up over 2% in 24 hours. The pair saw a strong comeback overnight after suffering at the hands of United States stock sellers for two days straight. A similar turnaround for tech stocks later on Thursday, with Amazon gaining 15%, set the stage for Bitcoin to rise in step, with BTC proponents nonetheless criticizing the over volatility of some equities. The rebound, meanwhile, could go some way to averting a deeper retracement for Bitcoin, this nonetheless favored by Cointelegraph contributo...
Bitcoin bulls may ignore Friday’s $730M options expiry by saving their energy for $40K
The past few months have been less than pleasant for Bitcoin (BTC) bulls, but they are not alone. Persistent comments from the United States Federal Reserve hint at plans to raise interest rates in 2022 and thi is causing investors to seek protection in inflation-protected bonds. The monetary authority signaled its intention to substantially raise the benchmark interest rate and they will also gradually reduce the monthly purchase of debt assets. Even though some crypto investors deem Bitcoin digital scarcity as inflationary protection, that does not change its volatility. In turn, it causes the asset price to move in tandem with risk markets. Bitcoin price at Coinbase, USD (right) vs. Russell 2000 index (left) The above chart shows Bitcoin price in blue stacked against the smaller U.S. li...
South Park destroys Matt Damon’s Crypto.com ad in season premiere
More than three months after its release, the ad from crypto exchange Crypto.com featuring Hollywood star Matt Damon was the subject of ridicule in the latest episode of the animated series South Park. In the first episode of its 25th season titled “Pajama Day”, the creators of South Park took on people in the United States refusing to wear a mask and once again associated crypto investments with scams. Characters in the show attacked Damon’s appearance in an TV spot titled “fortune favors the brave”, showing the actor speaking about Crypto.com amid a digital landscape of historic figures. “My dad said he listened to Matt Damon and lost all his money…” “Yes, everyone did! But they were brave in doing so!” The criticism is likely related to cryptocurrencies losing more than $500 billion in ...
3 reasons why Telos (TLOS) price hit a new all-time high
It seems crypto winter is upon us and during times like these, projects that continue to forge ahead by focusing on development and expansion are often rewarded by traders who are looking to set up long positions where strong fundamentals trump the absence of short-term gains. One project that has weathered the storm in the crypto markets to establish a new all-time high is Telos (TLOS), a blockchain network created with the EOSIO software that aims to bring speed and scalability to smart contracts for decentralized finance (DeFi), nonfungible tokens (NFTs), gaming and social media. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.42 on Jan. 10, the price of TLOS has soared 229% to a new high of $1.39 thanks in part to a record-high trading volume of...
Reports Bored Ape creator in talks with A16z: Potential valuation $5B
Silicon Valley tech VC Andreessen Horowitz (A16z) is reportedly eying an investment in Bored Ape Yacht Club creator Yuga Labs, with a reported valuation as high as $5 billion. Sources for the Financial Times revealed that Yuga Labs is seeking funding for a multi-million dollar piece of the company. If a deal is secured, it would mark the first institutional investment Yuga Labs has accepted as its popular nonfungible token (NFT) collection has become one of the biggest in the industry. The terms of the deal have not yet been set and negotiations may be canceled outright. Neither A16z nor Yuga Labs have confirmed the talks p Bored Ape Yacht Club (BAYC) is currently the second-most traded collection on the largest NFT marketplace OpenSea, with 380,821 ETH ($1 billion) in total traded volume....
Automakers are minting NFTs, but is there a strong use case?
Just before the turn of the 19th century, Carl Benz announced what is now widely considered as the world’s first commercial automobile. At the time, it would have been impossible to predict how this one product could spur the development of a multi-trillion-dollar industry over the course of the next century — but it did. From refueling stations and maintenance garages to tech giants like Uber, the world has created countless businesses catering specifically to the concept of car ownership. This, in turn, has led to more profound innovation within the automotive space, producing an array of services that are collectively worth much more than the automobile manufacturing industry alone. Digital ownership is taking over the web, and as the world continues to make large strides toward integra...
US lawmakers reintroduce bill to stop IRS from taxing crypto transactions under $200
A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200. According to a Tuesday draft of the Virtual Currency Tax Fairness Act of 2022, Washington Representative Suzan DelBene is seeking to amend the Internal Revenue Code of 1986 to exclude gains from certain personal transactions of virtual currency. If signed into law, the bill could stop the Internal Revenue Service, or IRS, from requiring U.S. filers to pay taxes on capital gains from crypto transactions of $200 or more. “Antiquated regulations around virtual currency do not take into account its potential for use in our daily lives, instead treating it more like a stock or ETF,” said DelBene. “Virtual currency has evolved rapidly in the past few y...
Gamestop partners with Immutable X for NFT marketplace, announces $100M grant for creators
On Thursday, iconic brick-and-mortar video game retailer GameStop announced a partnership with layer-2 nonfungible tokens, or NFTs, Ethereum (ETH) scaling solution Immutable X to develop GameStop’s upcoming NFT marketplace. GameStop will utilize Immutable’s technology for trading and minting NFTs. We’re thrilled to announce that @Immutable is taking another leap forward in the gaming & blockchain industry by partnering w/ @GameStop to power their NFT Marketplace: https://t.co/Tase31CBt3 Continue for more… pic.twitter.com/8v6Titg3kq — Immutable | $IMX (@Immutable) February 3, 2022 Immutable developers claim that the new NFT marketplace will be 100% carbon neutral with no gas fees. In addition, both Immutable and GameStop will launch a $100 million grant program denominated i...
OpenSea monthly volumes top $5B as NFTs continue to mainstream
In the last two weeks, Azuki, Bored Ape Yacht Club, CloneX and Mutant Ape Yacht Club have seen significant increases in floor prices and total sales volume. Over the last seven days alone, all four projects have generated an estimated $365.9 million in value, according to data from OpenSea. While the crypto market is steadily recovering from its lengthy bloodbath, nonfungible token (NFT) marketplaces like LooksRare and OpenSea have consistently generated about $100 million in daily total volume. LooksRare vs. OpenSea daily volume. Source: Dune Analytics It seems that crypto Twitter is expressing their speculation on the recent market pump to blue-chip momentum while others are hopeful their holdings will make their appearance in the upcoming SuperBowl a bag pumping event for their po...
Are SOL, ADA and ETH worth buying on February 3, 2022?
Solana (SOL), Cardano (ADA), and Ethereum (ETH) are all blockchain networks that have smart contracts and tackle blockchain scaling. Each project aims to solve scaling issues and aims to heighten its dApp ecosystem. All of these tokens have the potential for growth. Solana (SOL), Cardano (ADA), and Ethereum (ETH) are all solid blockchain projects which are competing against each other in terms of functionality. We will be going over if each token is worth buying on February 3, 2022. Should you buy Solana (SOL)? On February 3, 2022, Solana (SOL) had a value of $94.89. The all-time high value of the Solana (SOL) token was on November 6, 2021, when the token reached a value of $259.96. This means that at its ATH value, the SOL token was $165.07 higher in value or by 173%. In terms of the perf...
