Schlagwort: crypto business

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Iconic rapper Ice Cube joins the Dogecoin bandwagon

Ice Cube (O’Shea Jackson Sr), an iconic rapper, has joined the Dogecoin bandwagon endorsing an “incredible and historical” DOGE transaction. His entry into the Dogecoin world is closely related to the BIG3, a basketball league he co-founded. 

BIG3 features former NBA stars in a three-on-three formation as opposed to the usual five-on-five basketball games.

Last month, BIG3 launched a new ownership league model which allows each of the 12 teams to sell their tokenized stakes. Each team is allocated 1000 Non-Fungible Tokens (NFTs) that is, 975 ‘’Gold’’ NFTs worth $5,000 each, and 25 ‘’Fire’’ NFTs at $25,000 each.

On Wednesday, Bill Lee, MyDoge wallet co-founder, tweeted to Ice Cube “if ya dig DOGE, me and the DogeArmy will take one as well,” referring to Ice Cube’s previous post that Snoop Dogg was purchasing two teams.

Replying to Lee, Ice Cube tweeted “come on wit it Bill, you know i’m down with the DogeArmy.”

Although it’s not clear how serious Ice Cube is with the DogeArmy, BIG3 on the same day announced in a press release that Lee bought all the 25 ‘’Fire’’ NFTs worth $650,000 (4.86 million DOGE) for the ‘’Alien’’ team using DOGE.

Ice Cube described this as an ‘’incredible and historical ‘’ transaction while BIG3 called it the “largest commercial transaction in history” of DOGE.

The ‘’Fire’’ NFTs signify utility benefits and the higher end of ownership like voting rights, names, game management, merchandise, and licensing rights for team logos or voting rights and intellectual property. Additionally, if the owner sells their ‘’Fire’’ NFT, they get a 40% sale cut-off.

In an announcement, Lee also delved into the NFT projects slightly saying:

“While others are buying NFT images of apes and owls, I believe that NFTs with utility are the next frontier. It is a dream to own a basketball team and the BIG3 is shifting the NFT game by offering ownership rights such as licensing/IP, team voting/management, and merchandising.”

The post Iconic rapper Ice Cube joins the Dogecoin bandwagon appeared first on Coin Journal.

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Yuga Labs reimburses transaction cost for failed BAYC land sale

Yuga Labs, Bored Ape Yacht Club (BAYC) NFT collection creator, announced on Twitter that it has reimbursed the gas fees or transaction cost of every person who was unable to buy digital land of Yuga Labs’ Otherside metaverse due to technical problems.

Yuga Labs confirmed this in a tweeter thread saying:

“We have refunded gas fees to everyone who made a transaction that failed due to network conditions caused by the mint. The fees have been sent back to the wallets used for the initial transaction.”

Multiple purchases and reimbursing the failed transaction cost

The mint of Otherdeed non-fungible tokens (NFTs) garnered the Yuga Labs company $320 million in sales over the weekend. 

Data from Etherscan showed that the company spent a total of 90.57 ETH ($265,000) to reimburse almost 650 individuals with the largest refund of 2.6 ETH ($7,500) going to a single individual.

For the company to ensure that the process was efficient, they tapped a MultiSender, a dApp that doesn’t need a wallet to interact with or even confirm the contract before receiving a payment, to distribute the funds to their respective owners. 

In the case of multiple failed transactions, the MultiSender app combined it with a single refund.

The largest NFT Mint in the NFT world

The highly anticipated Yuga Labs NFT land sale of “Otherside’’ has shaken the Ethereum blockchain by becoming one of the largest NFT mints in the history of the NFT world. Besides, it has set the gas fee to the moon by setting them to record highs with some of the buyers paying thousands of dollars for a single NFT they did not receive.

However, last weekend after the sale, Yuga Labs tweeted that they were working on reimbursing the money to those who had failed transactions.

The post Yuga Labs reimburses transaction cost for failed BAYC land sale appeared first on Coin Journal.

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Zilliqa Token (ZIL) price surges amid social media sentiment spread

Zilliqa (ZIL) is one of the best performers in the crypto market today. It has rallied by over 20% today.

At the time of writing, ZIL was trading at $0.08889, up 25.67% after hitting a daily high of $0.09776 before pulling back.

Zilliqa trend on social media

According to reports from LunarCrush, a market and social media activity monitor for cryptocurrencies, the ZIL token was among the most discussed cryptocurrencies.

These market and social sentiments are considered the main reason behind the token rally helping the coin to cover some of its past 30 days’ drop of 37%.

In addition, the token rally has also been influenced to some extent by CEO Ben Livshits’s move of revealing the project roadmap. The CEO said that the project will concentrate on building and integrating Metaverse, gaming, and DeFi applications.

Livshits also laid a roadmap that will play a major role in the achievement of the industry’s future goals.

Zilliqa’s partnerships

Zilliqa has partnered with the Blockchain Gaming Alliance (BAG) to unveil Metapolis which according to Zilliqa is the first ‘Metaverse as a Service Platform’ to be built on stack technology. BAG also announced its collaboration with Atomic Wallet to support Zilliqa’s blockchain Non-Fungible Tokens (NFTs). 

ZIL token has also been listed on a number of crypto exchanges like BitGet, BitPanda, and Binance in the recent past.

Zilliqa team also aired their views concerning the Metapolis rumors by saying that Metapolis is an extended reality that has powerful capabilities. Besides, blockchain firms surpassed 2 million blocks.

The post Zilliqa Token (ZIL) price surges amid social media sentiment spread appeared first on Coin Journal.

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Avalanche (AVAX) price surges after AVAX dedicated investment trust launch

Avalanche’s (AVAX) price has rallied over 10% today following the news of the launch of Valkyrie, a prominent digital asset manager, and the increasing interest in Avalanche among institutional investors. 

At the time of writing, AVAX was trading at $67.25, up 10.91% after hitting a one-week high of $67.35 and the 11th largest cryptocurrency by market cap.

Valkyrie announcement and interest among institutional investors

The rally was greatly influenced by the Valkyrie announcement on Wednesday in a press release about the launch of an investment trust dedicated to AVAX. With the announcement, the asset manager is anticipating that more institutional money will be drawn into the Avalanche blockchain since there has been a growing interest among institutional investors in AVAX after Ethereum’s plan to shift to the medium this year. 

The trust will allow institutional investors to acquire token exposure without buying them directly as well as invest in AVAX on their behalf, however, according to Valkyrie, the trust will be available to qualified investors only.

In addition, Valkyrie praised Avalanche as one of the fastest smart contract platforms in the entire blockchain industry.

Crypto market influence on AVAX

AVAX surge was also influenced by the broader crypto market which has experienced significant gains today.

The rise in the entire crypto market was influenced by the investors’ relief after U.S Federal Reserve raised the rates as anticipated. In the last 24 hours the total crypto market capitalization has experienced an increase of about $100 billion.

Proof-of-stake networks adoption

There has been a growing interest in other Proof-of-Stake, PoS tokens, like AVAX, ADA, and SOL as Ethereum plan to shift to a PoS network, besides, Avalanche is now being seen as a major competitor for Ethereum.

The institutional investors seem to be attracted to PoS tokens as an alternative investment to Bitcoin. This is because of the lower energy requirement in the Proof-of-Stake tokens as compared to that of Proof-of-Work tokens making it one of the best choices for environmentally conscious regulators.

Additionally, Digital fund managers like 21Shares, CoinShare, and Grayscale have also launched PoS-exposed products as the demand from their institutional clients continues to grow this year.

The post Avalanche (AVAX) price surges after AVAX dedicated investment trust launch appeared first on Coin Journal.

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Here is why Axie Infinity is up by 15% in the last 24 hours

Axie Infinity is the best performer amongst the top 50 cryptocurrencies by market cap. 

The cryptocurrency market has performed well over the past 24 hours and the total market cap could break past the $1.8 trillion mark soon. The market has added nearly 3% to its value in the last 24 hours, which is a positive considering its performance in recent days. 

Bitcoin, the world’s largest cryptocurrency by market cap, could soon reach the $40k psychological level after adding 1.6% to its value over the past few hours. Ether remains the second-largest coin and is also trading in the green zone. ETH looks likely to break past the $3,000 resistance level soon.

AXS, the native token of the Axie Infinity gaming ecosystem, is the best performer amongst the top 50 cryptocurrencies by market cap. AXS has added 15% to its value in the last 24 hours and now trades above $34 per coin.

The rally comes after the Axie Infinity team introduced a token burn tool for its SLP token. Smooth Love Potion (SLP) is the in-game asset of the popular blockchain-based gaming metaverse Axie Infinity.

The tool would enable tournament organisers to activate SLP buy-in that gets burned to help balance the economy.

Key levels to watch 

The AXS/USD 4-hour chart shows that Axie Infinity is recovering from its recent slump. The MACD line remains below the neutral zone but could soon cross into the positive zone if the rally continues.

The 14-day relative strength index of 59 shows that AXS could soon enter the overbought region.

If the bulls remain in control, AXS could surpass the first major resistance level at $38.90 before the end of the day. However, the second major resistance level at $48.87 should cap further upward movement in the short term. 

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