Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Bakkt: Nearly 50% of gig workers open to getting paid in crypto

Bakkt’s study carried out in June and July found that 38% of gig workers are open to being paid in crypto, and the number jumps to nearly 50% for those willing to receive part of their gig pay in crypto.

Bakkt Holdings, Inc. (NYSE: BKKT), a leading digital asset platform offering a range of cryptocurrency services including buying and selling of Bitcoin and Ethereum among others, has released the findings of a new study showing almost half of people working in the gig economy are okay with getting a portion of their wages paid in crypto.

The US-based company announced this on Friday, with the findings part of a study dubbed “Gig Workers & Crypto Study.” This study happened at a time when crypto volatility was at its peak between mid-June and early July.

Crypto appeal among gig workers growing

In its assessment, and from the responses received regarding cryptocurrency payments in the gig industry, 38% of the respondents said they would accept all their pay in crypto. Narrowing this question to whether they would accept a portion of the pay in cryptocurrencies, nearly 50% said they would.

20% of the gig workers involved in the survey said they have been paid in crypto before.

“The increasing appeal and the existing usage of cryptocurrency among gig workers came through clearly in our study,” Nicolas Cabrera, Bakkt’s chief product officer of payments said in the press release.

Crypto has seen increased acceptance as a salary payment mode among most sectors within the gig economy. Most of the workers in the various industries, including freelancers, social influencers, and rideshare drivers, are increasingly tech savvy and thus more willing to accept crypto.

“While this group could benefit from increased understanding of how crypto can be used, rideshare drivers, food delivery drivers and other gig workers cite crypto as the next generation of currency and are drawn to the potential increase in the value of their pay,” Cabrera noted.

The post Bakkt: Nearly 50% of gig workers open to getting paid in crypto appeared first on CoinJournal.

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Jack Dorsey’s firm, Block Inc., posts $1.47B Q2 profits, Bitcoin revenue drops

Former Twitter CEO Jack Dorsey’s digital payments firm, Block Inc., registered a $1.9 billion profit in the second quarter of 2022 despite the ongoing turmoil within the crypto market. Revenue from Bitcoin services, however, dropped and only accounted for about $41 million of the overall profit.

The firm cited price volatility and lack of consumer demand for the reduced revenue from Bitcoin compared to past years.

The Q2 report showed that the digital payment firm saw its year-to-year profits climb by about 29%. This comes amid the reduced Bitcoin business.

Block Inc. Bitcoin business

Block Inc. generates Bitcoin revenue primarily from BTC trading services through its digital payment application Cash App. The reduced gross Bitcoin gross profit suggests that Bitcoin could be a high-cost venture for the digital payments firm.

Commenting about the reduced Bitcoin revenue, Block Inc. stated:

“The year-over-year decrease in Bitcoin revenue and gross profit was driven primarily by a decline in consumer demand and the price of bitcoin, related in part to broader uncertainty around crypto assets, which more than offset the benefit of volatility in the price of Bitcoin during the quarter.”

The Block also realized a $36 million impairment loss on its BTC holdings, although that is just a loss on paper.

The firm was, however, quick to emphasize that the slump in Bitcoin profits does not reflect the broader performance of the firm’s business.

Following Block’s Q2 performance, investors seem to be quite impressed despite the fact that the firm’s stock dropped by over 7% in the after-hours trading.

The post Jack Dorsey’s firm, Block Inc., posts $1.47B Q2 profits, Bitcoin revenue drops appeared first on CoinJournal.

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Mummy.io partners with Polygon Studios to scale their metaverse

Immerse play-and-earn MMORPG games platform, Mummy.io has announced a partnership with Polygon Studios to scale its metaverse and allow its community to access more opportunities.

The partnership will help Mummy to introduce new NFT collections and in-game utility integrations to enhance the experience of players of the P&E game. Polygon Studios is an ecosystem that hosts a myriad of Web3 companies including lending dApps, decentralized exchanges, sports betting, play-to-earn games, NFTs, and DAOs.

Over the past 7 months, Polygon has grown tremendously seeing over 19,000 dApps joining the platform.

First airdrop of Stelae NFTs

Along with announcing the partnership, Mummy.io also announced the launch of its first airdrop of Stelae NFTs, which is the first artifact of a Series of 3 with a Demo Chapter 1: Battle of Ankhahur the Fallen in summer 2022.

The airdrop offers special utilities and features to encourage gamers and NFT collectors.

Mummy.io said that the airdropped NFTs will be minted on Polygon, something that would make Mummy.io benefit from low gas fees, high speeds, and reduced latency. Mummy also aims at leveraging the flexibility, sovereignty, and scalability of Polygon while at the same time ensuring interoperability, security, and structural benefits in a competitive manner.

The MMORPG games

MMORPG is a more complex game genre than other video game genres and Mummy’s team has come out clearly to point out the challenges it faces when developing its games. According to the developers, MMORPG requires specialized software and secure integration of blockchain technology.

The team is hoping to combat these challenges with the onboarding of Polygon and also boost their go-to-market strategy and the process of game development.

With the Polygon partnership, Mummy aims to reach out to 3D gamers around the globe and bring AAA gaming standards to the next level.

The post Mummy.io partners with Polygon Studios to scale their metaverse appeared first on CoinJournal.

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Here is why FLOW is up by nearly 40% in the last 24 hours

The cryptocurrency market could end the week in a positive fashion after adding more than 1% to its total value in the last 24 hours.

The cryptocurrency market has maintained its positive performance over the past few days. The total market cap is closing in on $1.1 trillion after adding more than 1% to its value in the last 24 hours. 

Bitcoin is trading above $23k once again after adding 1% to its value so far today. Ether continues to maintain its price above the $1,600 psychological level heading into the weekend.

FLOW, the native token of the Flow blockchain, is the best performer amongst the top 30 cryptocurrencies by market cap. FLOW has added 39% to its value in the last 24 hours, outperforming the other major cryptocurrencies.

The primary catalyst behind this rally is the announcement by the Flow team that its partnership with Instagram is now active. 

In a tweet on Thursday, the Flow team said select users can now connect their Dapper wallet and showcase their favourite NFTs directly on their Instagram account.

Key levels to watch

The FLOW/USD 4-hour chart is extremely bullish as Flow has been performing excellently over the last 24 hours. The technical indicators show that FLOW is outperforming the broader cryptocurrency market.

The MACD line is deep within the positive zone, indicating bullish momentum. The 14-day relative strength index of 68 shows that FLOW is heading towards the overbought region if the positive momentum can be maintained.

At press time, FLOW is trading at $2.64. If the bulls remain in charge, FLOW could surge past the $3.05 resistance level before the end of the day. However, it would need the support of the broader market to cross the $4 mark for the first time in nearly six months. 

The post Here is why FLOW is up by nearly 40% in the last 24 hours appeared first on CoinJournal.

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Meta’s NFT expansion begins with Instagram NFT integration

Mark Zuckerberg’s company, Meta, has begun its non-fungible token expansion across 100 countries in the Americas, Asia-Pacific, Middle-East, and Africa with Instagram NFT integration.

Meta, which registered a sharp loss in its Q2 earnings report, unveiled its digital asset expansion plan on May 10 this year and Instagram and Facebook, which is a sister social media platform to Instagram, had started by experimenting with Ethereum and Polygon-based NFTs.The pilot phase, however, was only restricted to US users. 

Today’s announcement marks the beginning of expanding Meta’s digital plan across the world with a target of over 100 countries.

In addition to the NFT integration that will give users the ability to post digital collectibles minted on the Flow blockchain, Instagram will also add support for Coinbase Wallet and Dapper Wallet.  

Instagram was selected as the starting point primarily because of its popularity around the world.

Posting NFTs on Instagram

Following the announcement, one simply needs to connect a digital wallet to his Instagram account to post an NFT minted on Ethereum, Polygon, or Flow.

Instgaram is also working on integradting Solana based NFTs.

Some of the third-party wallet integrations that Instagram users will be able to link to include Rainbow, Trust Wallet, Coinbase Wallet, MetaMask, and Dapper Wallet. 

Most importantly, users will not be charged anything for posting or sharing digital collectibles on Instagram.

Besides Meta, Flow enjoys several other notable partners including Animoca Brands, Warner Music, Ubisoft, National Basketball Association, Ubisoft, Ubisoft, Circle, Binance, and OpenSea.

Flow’s integration with Instagram shows Meta has a lot of confidence in the blockchain, which is a major boost for the FLOW token.

The post Meta’s NFT expansion begins with Instagram NFT integration appeared first on CoinJournal.