Monat: Juni 2022

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Solana price recap: UniLayer CEO says SOL is attracting investor attention

Solana price rose to an intraday high above $41.00 on Friday as the crypto market registered some gains following a brutal start to the week.

The digital asset, which is ranked 9th among the largest cryptocurrencies with a market cap of $13.6 billion, surged from lows of $36.65 to hit $41.04 according to data from CoinGecko..

The cryptocurrency has experienced a bullish move over the week, with SOL/USD having traded at around $27.64 on 19 June.

Solana price jumps on Saga phone news

On Thursday June 23, Solana Labs, the platform behind the development of the Solana ecosystem, released a major reveal that coincided with SOL price going up.

The hot news concerned the launch of Saga, a flagship crypto-focused smartphone designed to help drive Web3 adoption, including the use of NFTs.

The news was a boost not just to Solana, but the wider crypto ecosystem, Alex Belets, the CEO of UniLayer Network, a L1 blockchain and interoperability platform, told CoinJournal.

Solana is attracting investors

While the current market conditions do not offer so much to smile about, Belets says Solana could be having a different story building up.

“It’s difficult to be bullish about any token in the current market, but Solana does continue to attract investor attention,” he added.

Positive news this definitely is for an industry that has seen so many negative headlines. However, Solana still has a big challenge that it must address – how to handle massive traffic that often ends with the network outages.

So while investors continue to bet big on the platform, Belets says one interesting thing to watch out for is “how developers tackle this critical issue in the face of a smartphone launch“

SOL/USD is nearly 10% up on the day at $40.12 (as of writing), while the upside has Solana trading more than 32% higher since its weekly low.

SOL trading volumes have also jumped, with 24-hour trading volume up by more than 13.6%. The market cap has increased by over 8% in the same period.

The post Solana price recap: UniLayer CEO says SOL is attracting investor attention appeared first on CoinJournal.

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Mogul Productions and Trace Network Labs partner to bring Movies to the Metaverse

Mogul Productions, the decentralized platform that seeks to promote NFTs and DeFi in the movies and entertainment sector, is going big on the move with a new partnership. 

As announced on Friday, the firm has signed a major partnership with Trace Network Labs to help bring the movie experience to the metaverse.

Growth in the NFTs and Metaverse sector

Blockchain technology has completely changed the landscape when it comes to digital avatars, whose growth trajectory, to state the least, has been on an upward trajectory since the 70s.

Today, digital avatars and the non-fungible token (NFT) and metaverse space are shaping interactions virtually across every aspect of life.

According to an industry expert’s observation highlighted by CoinJournal, “The metaverse will bring true value for digital assets, mainly in the form of NFTs. It will give people the ability to recreate themselves in any shape or form they would like and to reinvent their identity altogether. It will bring to life digital pets of all kinds.”

Mogul Productions and Trace Network want to drive the next level of growth in this sector through their partnership. Essentially, Mogul wants to bring the movie experience and movies to the metaverse.

Use NFTs to experience the Metaverse

Some of the most popular NFT collections in the world today have seen millions of dollars in sale volumes, with the creators of blockbusters such as the Bored Ape Yacht Club, CryptoPunks, and Azuki helping unlock a whole range of success stories.

Alongside this, there has been the steady drive towards the reality of the Metaverse, a virtual world where real-life humans can interact and do pretty much everything else via avatars. 

While tech giants such as Meta Platforms, Apple Inc and Google are all working on delivering the metaverse, the entertainment space is already seeing events in the virtual world. 

Mogul wants to use its partnership with Trace to help drive this to the next level, with NFTs at the heart of it. Notably, the platform wants to allow individuals to mint their own avatarsand use them in the metaverse to experience events such as film premieres.

The collaboration will also see Mogul’s Cinematic Metaverse expand to provide users with new features such as branded wearables and other Mogul products.

With these, users can unlock several exciting experiences, including access to exclusive “Behind The Scenes” events – all in the metaverse.

The post Mogul Productions and Trace Network Labs partner to bring Movies to the Metaverse appeared first on CoinJournal.