Crypto News

NFT Metaverse Pastel World Pushing Art and Tech Boundaries Despite Bear Market

Web3 venture Krew Studios has released further details about its much-hyped NFT avatar project Pastel World, both in a lengthy Twitter thread and freshly-updated litepaper. The startup, which was behind the smash-hit NFT collection MASKS from actor/artist Jordi Mollà, describes Pastel World as the “most ambitious project released by the Krew Universe to date,” one whose multi-chain model will “pave the way for future collaborations” with emerging crypto communities. Manga Meets Metaverse Pastel World is the brainchild of singer-songwriter JVCKJ, formerly one half of multi-platinum pop pair Jack & Jack, and London-based illustrator Uriah Barrett-Thomas. An NFT/PFP collection in the mould of CryptoPunks, but with more utility, the series features authentic manga art and follows a fantastical storyline which ostensibly doubles as the project’s roadmap. In a nutshell, each tokenized avatar is a “Prophet” journeying through space and time equipped only with a magical backpack, an enchanted item that must be nurtured to ensure survival in Pastel World. In due course, the metadata for each NFT will refresh, causing a gem to appear on Prophets’ backpacks – a precious stone that determines which ‘zone’ each character must inhabit. Moreover, each customizable element of the NFTs will play a part in the continued narrative. To quote the aforementioned tweet thread, “The creativity that infuses the lore filters down to the planetary environment, divided into painstakingly mapped zones such as Cloud9, Fairy Kingdom, and The Grounded where the undead roam.” Although Pastel World came about as a result of the aforementioned artistic collaboration, Krew Studios has been heavily involved in the creative and technical process via its web3 launch studio, Krew Labs. The company’s eponymous creative agency will also handle marketing and community management going forward. “Anyone can create 10,000 PFPs and slap a theme on top, but it takes skill to craft an entire universe around an NFT collection,” says Rambino, Krew Studios’ co-founder. “One of the things that impressed us most about Pastel World was the lore.” In all, 8,800 Pastel World NFTs have been minted on Ethereum and the team intends to pursue various integrations with other web3 communities, including those that have been incubated by the platform’s launchpad, Krew Universe. With the upcoming introduction of special traits and accessories concealed in Prophets’ backpacks, and the evolution of the planet’s various zones, it is thought that Pastel World will transition into a full-blown metaverse. Staying Bullish in a Bear Market Like several other projects in the web3 space, Krew Studios is at pains to stress that it’s business as usual despite bearish market sentiment. The recent downturn has seen a sharp decline in NFT floor prices, with the industry still struggling to shrug off the reputational damage it suffered as a result of Terra’s spectacular crash. In fairness, Krew’s optimism for the success of Pastel World isn’t delusory. As well as leveraging the talent and profile of both JVCKJ and Barrett-Thomas, the company is banking on its considerable production experience: prior to switching its attention to web3 in 2021, Krew Studios had worked on projects for clients such as Universal Music, Boohoo and Epic Records. Over the past year, the studio has expanded its team to ensure it possesses the necessary experience to make a mark in web3. In-house creatives include experts in blockchain, digital art and gaming, while an experienced advisory team has been brought on board to help guide promising NFT artists and brands determined to make a splash in the crypto world. In the near term, Krew’s goal with Pastel World is to nurture a passionate and engaged community of token-holders and traders, the better to cement the project’s status in the growing metaverse economy. The firm is also building infrastructure for upcoming web3 ventures and creating a private club for art collectors, Mask World, featuring curated NFTs.  

Altcoins Bitcoin

Crypto Trader Warns 50% Drop Will Slam Two Ethereum Rivals, Predicts Massive Capitulation Incoming

A widely-followed cryptocurrency analyst is expressing bearish sentiment on two Ethereum (ETH)-competing altcoins. Pseudonymous crypto analyst Capo tells his 263,800 Twitter followers that the prices of two layer-1 platforms could fall by over 50% from the current levels. Starting with Fantom (FTM), Capo says that the native token of the smart contract-enabled blockchain is flashing […]

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Altcoins Bitcoin Ethereum

$3,500,000,000 Hedge Fund Doubles Down on Bitcoin (BTC), Ethereum (ETH) and Algorand (ALGO): Report

SkyBridge Capital founder Anthony Scaramucci is reportedly devoting nearly half of his firm’s $3.5 billion worth of assets under management to Bitcoin (BTC), Ethereum (ETH), Algorand (ALGO) and crypto-related stocks. Scaramucci says in a new interview with Bloomberg that SkyBridge Capital has “adapted and repositioned” during the pandemic, noting that the firm hopes to eventually […]

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Crypto News Ethereum

The Top 5 Most Valuable NFT Collections And A Tool To Track Them Down

Some of these NFT collections are so ever-present that they are already part of the collective unconscious. Others, the general public has not even heard about.  What makes an NFT collection valuable? Market capitalization is the potential value of the whole collection, based on its size and the value of the individual pieces. In the case of NFTs, it’s hard to pinpoint, because it’s a volatile market with lots of action all-day-every-day. Agreeing on which are the most valuable #NFTs collections is certainly hard. We created a matrix called "Most Valuable NFTs Collections" and it shows the 20 most valuable collections, sorted by their market capitalization. Access this data for free here: https://t.co/wXJyMCmRBD pic.twitter.com/PyzbPMDKCk — IntoTheBlock (@intotheblock) April 21, 2022 When IntoTheBlock announced their list, they presented it by saying, “Agreeing on which are the most valuable NFTs collections is certainly hard.” Besides market capitalization, the “Most Valuable NFT Collections” list tracks number of owners, volume trade, average price, and number of sales. All of those stats are pretty common when discussing NFTs, but it’s certainly helpful to have them all on an interactive database. The page also displays useful graphs that put everything into perspective, like “All-time Most Traded Collections,” “Collections With Most Unique Owners” and “Booming NFT Collections.” With that being said, let’s dive into each of the collections in the Top 5 and give some insight about them. #1 NFT Collection: Bored Ape Yacht Club At the moment, the BAYC surpassed the all-powerful Cryptopunks as the most valuable NFT collection. This is not surprising, since the Bored Apes became part of popular culture and are on their way to becoming mainstream. On their official site, they describe themselves as “A limited NFT collection where the token itself doubles as your membership to a swamp club for apes. The club is open! Ape in with us.” As with most successful products, the Yuga Labs creation doesn’t come without its share of controversy.  #2 Cryptopunks They might not have been the firsts, but the Cryptopunks are certainly responsible for spearheading and popularizing the NFT movement. At first, you could mint them for free. Nowadays, the average price is 76.64 ETH. On their official site, they describe themselves as “The Cryptopunks are one of the earliest examples of a “Non-Fungible Token” on Ethereum, and were inspiration for the ERC-721 standard that powers most digital art and collectibles.” The creators recently sold the whole collection to Yuga Labs. And, of course, controversy follows this project as well. And, they’re also on their way to mainstream adoption. ETH price chart on Capital.com | Source: ETH/USD on TradingView.com #3 NFT Collection: Mutant Ape Yacht Club At first, these ones were free as well. They came into the scene as a way to reward BAYC members. Owners received an airdrop of “Mutant Serum,” using it they could mint a mutant version of their ape as a completely new NFT. Nowadays, the average price is 32.99 ETH. They don’t have an official site, but this is the NFT collection’s Open Sea page. As you can see by its place on this list, the interest in this collection keeps growing. #4 CloneX The collaboration between legendary Japanese artist Takashi Murakami and “digital artifacts” creator RTFKT is a success like no other. This might have to do with Nike’s recent acquisition of the company. The NFT collection ’s official site doesn’t describe itself, but NFT News does, “CloneX NFT collection is not only equipped for the Metaverse and features high-end avatars, but also marks the beginning of a community-focused environment ” #5 NFT Collection: Moonbirds The newcomer of the bunch is the Moonbirds NFT Collection. Their official site describes them as, “a collection of 10,000 utility-enabled PFPs that feature a richly diverse and unique pool of rarity-powered traits.” Since they’re so new, they’re easily beating all of the other collections in number of daily sales. Of course, the NewsBTC team has been covering the story as it happens. Other NFT collections in the Top 10: Azuki, Sandbox’s LANDs, Doodles, Veefriends, and Meebits. Featured Image: the most valuable list, taken from this tweet | Charts by TradingView

Altcoins Ethereum

Number of NFT Collections Doubles This Year As Total Trading Volume Exceeds $54,000,000,000: IntoTheBlock

Crypto analytics platform IntoTheBlock is revealing that the number of non-fungible token (NFT) collections has risen dramatically in the first four months of 2022. In a new tweet, IntoTheBlock says that the number of NFT collections on the Ethereum (ETH) blockchain has more than doubled since the year started, from around 40,000 to a total […]

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Bitcoin Crypto News Ethereum

Galaxy Digital’s Jason Urban What Will Drive Ethereum To Flip Bitcoin

The school of thought that Ethereum will one day flip Bitcoin is one that has been around for a while. Although debates around this have subsided following the bull rallies that rocked last year. However, it seems not everyone has forgotten about this. One of those is Galaxy Digital’s trading co-head Jason Urban. The trading veteran shared his thoughts on the crypto market and what he believes will push Ethereum to eventually flip Bitcoin. Ethereum Merge Is The Catalyst In an interview with Kitco News, Galaxy Digital Co-Head of Trading, Jason Urban explained why he believed that Ethereum will end up flipping bitcoin. The major driver identified by Urban was the upcoming ETH Merge. This merge will give Ethereum another edge over bitcoin, both of which still utilize the proof of work mechanism. However, after the merge, Ethereum will move to proof of stake, requiring significantly less energy to carry out transactions. Related Reading | Terra Users Heads Up, Why NEAR May Launch Native Stablecoin With A 20% APR The increased speed and scalability of the network will also give it an edge. Making it a more valuable digital asset.  Pointing to the rapid adoption of the digital asset, he told Kitco News that it shows more people are beginning to understand what Ethereum is about. The leading smart contracts platform presents a unique opportunity with its widespread utility, hence, making it a great play for institutional investors. ETH price crumbles to $3,200 | Source: ETHUSD on TradingView.com “There’s scalability and things that now become very valuable and will allow ETH to grow and so smart institutional investors are seeing that,” Urban noted. “They’re not going to create a more ESG compliant crypto and that is driving institutions into such a degree that we may see more institutional money going into Ethereum than Bitcoin because of the whole energy consumption angle.” When Will The Flippening Happen? For highly volatile digital assets like Bitcoin and Ethereum, trying to predict their future value can often be a short in the dark. But Urban has placed a timeframe in which he believes that the market may see ETH flipping BTC. Related Reading | Mike Novogratz Doubles Down On $500,000 Bitcoin Prediction The timeframe he offered shows that the trading co-head does not expect to see the flipping happening anytime soon. However, the timeline for the future is not very wide. Answering the question, Urban said that he sees this taking place “in the next two to three years” which is the “soonest” time that he expects this to happen. “As people become educated in the space and they understand what the value proposition of crypto is they start to understand the power of smart contracts that layer one that so many brilliant minds can build on. Ethereum is the copper, Bitcoin is the digital gold.” Ethereum is trading at $3,250 at the time of this writing. It is currently sitting at less than 10% of the value of bitcoin, although its market cap shows a smaller gap compared to the pioneer cryptocurrency. Featured image from CNBC, chart from TradingView.com

Bitcoin Crypto News

The NFL’s First Team To Accept Crypto? The Tennessee Titans

The Tennessee Titans will be the first NFL team in the league to accept cryptocurrency payments, according to emerging reports. While details are limited, it’s now known that the club will utilize a third-party payments provider to allow for larger, recurring purchases via Bitcoin. It’s unknown who exactly that payment provider is, if other crypto token payments will be supported now or in the future, and a timeline for such support (as well as potential timelines for broader support for more simple transactions like one-game tickets). Nonetheless, it’s still substantial news for a league that has historically been hesitant in allowing crypto integration. The NFL’s Opening Up?  In recent weeks, new reports emerged that the NFL would lighten it’s restrictions around cryptocurrency deals for clubs, while still keeping some gates involved; while teams could now form cryptocurrency partners, there would still be restrictions around stadium signage and deal-length (capped at three years). Nonetheless, this still showed a signal that the league was warming up to crypto-related deals. To date, the NFL has sought out a stiffer stance on crypto deals, relative to most other leagues, that have engaged through a variety of sponsorship channels – from league-wide deals to individual team jersey sponsorships. For the Tennessee Titans, while the functionality of Bitcoin-supported payments will only be available for large and recurring payments, the team has expressed a desire to have payment support for everything from tickets to merchandise and in-game food and beverage. Nonetheless, the move still secures the Titans as the first team in the NFL to accept crypto payments in any capacity. In the near-term, expect major payments for things like season tickets, suites, etc. to be the major crypto-related revenue for the team. Adoption news has left BTC charts unbothered. | Source: BTC-USD on TradingView.com Related Reading | TA: Bitcoin Steadies Above $43K, Why BTC Could Recover Higher Tennessee Titans Joining The Short List The Tennessee Titans join an exceptionally short list of professional teams in the ‘big four’ of sports leagues (NFL, NBA, NHL, and MLB) that accept crypto payments; the MLB’s Oakland Athletics and the NBA’s Dallas Mavericks and Sacramento Kings are the only major league clubs in the U.S. to make active strides in accepting crypto payments. Expect this list to continue to grow, particularly as broader industry partnerships come to life – such as the recently announced Strike & Shopify deal. As crypto payments continue to see broader adoption, and as crypto exchange and blockchain technology sponsorship deals continue to grow and evolve, there be an increasing amount of clubs and even leagues that feel that there is a slice of the pie that they’re missing out on. Related Reading | Mike Novogratz Doubles Down On $500,000 Bitcoin Prediction Featured image from Pixabay, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

Bitcoin Crypto News

Mike Novogratz Doubles Down On $500,000 Bitcoin Prediction

Mike Novogratz has once again reiterated his support for the $500,000 future prediction for bitcoin. The Galaxy Digital CEO who was recently at the Bitcoin 2022 conference held in Miami had spoken in favor of the cryptocurrency once more, highlighting the future potential of the digital asset. Novogratz gave his prediction speaking at the conference but this is not the first time that the billionaire would be making such a prediction. Pushing Bitcoin To $500,000 Novogratz who put bitcoin at $500,000 in the next half-decade had shared thoughts behind this prediction. One of those had been the economy and the growing inflation rates that have been plaguing it. The Federal Reserve had been working non-stop with increasing interest rates and stuff but the billionaire notes that once the Fed begins to take a pause from all of this, then the digital asset would resume its upward movement. Related Reading | Bitcoin Trading Volume Continues To Remain At Low Levels The billionaire expects that not only will the central bank raise interest rates due to the high inflation, but it will also likely raise these interest rates by as high as 50 basis points. However, this cannot continue on forever and the Fed will eventually need to ease up. This is when Novogratz predicts that bitcoin will go “to the moon”. This is what the billionaire expects will push the price of the digital asset as high as his $500,000 prediction. BTC trading at $43,800 | Source: BTCUSD on TradingView.com Novogratz did not stop at $500,000 though. The Bitcoin proponent and maximalist also explained that he expects the digital asset to eventually reach as high as $1 million apiece. Wary Of The Dollar It seems bitcoin was not the only asset of concern for Novogratz during the Miami conference. He also touched upon the United States dollar as he expressed hope that the currency would continue to be strong instead of continuing to fall.  Piecing together the relationship between bitcoin and the dollar, the billionaire explained that the dollar going to infinity would mean Bitcoin going to infinity which would overall not be good for the Western world in any way. Related Reading | Bitcoin Exchange Traded Products Near 1% Of Total BTC Supply “I go to bed and I pray that the stewards of the U.S. economy don’t screw it up,” said Novogratz. “I really do pray that the dollar is going to be strong and it doesn’t go to infinity because Bitcoin going to infinity means the rest of the Western world has really fallen apart.” The Galaxy Digital CEO had previously said that he sees bitcoin going to $500,000. He had explained that he saw most cryptocurrencies dying out with time but that more people would want to own the digital asset which would be the major driver behind it hitting this price point. Featured image from Somag News, chart from TradingView.com

Bitcoin Crypto News

MicroStrategy Acquires 4,167 BTC And Marathon Holds 1,259 Self-Mined BTC

Another day, another MicroStrategy bitcoin buy. The Michael Saylor-led company is relentless in its BTC accumulation strategy. In a similar position, the bitcoin mining giant Marathon Digital Holdings doubles down on its no-selling policy. Which is also a BTC accumulation strategy. Will these two giants go down in history as pioneers?  Related Reading | Treasury Management Firm Says CFOs Avoid Risk, Bitcoin Won’t Become Corporate Vehicle These companies are adopting the Bitcoin Standard as a way of life. Let’s look at MicroStrategy and Marathon’s stats, where do these new acquisitions put them on the BTC leaderboard? And, how did the market react to both news? MicroStrategy, Even More Aggressive The man himself, Michael Saylor announced the acquisition via his very active Twitter: “MacroStrategy has purchased an additional 4,167 bitcoins for ~$190.5 million at an average price of ~$45,714 per bitcoin. As of 4/4/22 MicroStrategy hodls ~129,218 bitcoins acquired for ~$3.97 billion at an average price of ~$30,700 per bitcoin.” MacroStrategy has purchased an additional 4,167 bitcoins for ~$190.5 million at an average price of ~$45,714 per #bitcoin. As of 4/4/22 MicroStrategy #hodls ~129,218 bitcoins acquired for ~$3.97 billion at an average price of ~$30,700 per bitcoin. $MSTRhttps://t.co/Z45OuJU5KI — Michael Saylor⚡️ (@saylor) April 5, 2022 To clarify, MacroStrategy is a MicroStrategy subsidiary. This seems to be the buy the company did with the $200M bitcoin-collateralized loan they took a week ago. Our sister site Bitcoinist explains and clarifies: “The company took the loan via MacroStrategy, a subsidiary created with the purpose of holding its parent company’s Bitcoin funds. As per the release, the $205 million loans were issued under the Silvergate Exchange Network (SEN) and its Leverage program and will mature on March 23, 2025. The SEN was launched in 2020, the release clarified, to address the demand for BTC collateralized loans.” Even though 129,218 BTC is a lot for just one entity, it’s beneficial to remember that those are not Michael Saylor’s coins. The treasury belongs to MicroStrategy, a public company owned by many. Still, they own almost triple what Tesla owns. And MicroStrategy keeps on buying.  Many people talk about buying the dip. But when the dip comes, they panic and sell (as oppose to buy). This is how you do it.👍 https://t.co/VcAB6NeQoc — CZ 🔶 Binance (@cz_binance) April 5, 2022 Binance’s CEO Changpeng Zhao reacted to the news with high praise. “Many people talk about buying the dip. But when the dip comes, they panic and sell (as oppose to buy). This is how you do it,” he wrote. BTC price chart for 04/05/2022 on Kraken | Source: BTC/USD on TradingView.com Marathon, Even More “Hodling” In a recent press release, Marathon Digital Holdings announced very healthy-sounding numbers. The company “produced a record 1,258.6 self-mined bitcoin during Q1 2022, a 556% increase from 191.8 self-mined bitcoin in Q1 2021 and a 15% sequential increase from 1,098.2 self-mined bitcoin in Q4 2021.” Plus, in March alone, they “successfully deployed 1,320 miners.” About the increase, the company’s CEO Fred Thiel said:  “In the first quarter of 2022, we increased our bitcoin production 15% from the prior quarter and produced a record 1,259 bitcoin even as the global hash rate rose by approximately 17%,” Where does that put them on the bitcoin leaderboard? Well, Marathon “increased total bitcoin holdings to approximately 9,373.6 BTC with a fair market value of approximately $427.7 million.” The company’s accumulation strategy began in October 2020, the last time Marathon sold bitcoin.  Related Reading | Allied Payment Partners NYDIG, Adds Bitcoin To Corporate Treasury  MicroStrategy, The Leaderboard, And The Market According to the Bitcoin Treasuries list, these acquisitions put both companies at the bookends of the Top 5. That is: MicroStrategy, 125,051 BTC Tesla Inc., 42,902 BTC Galaxy Digital Holdings, 16,400 BTC Voyager Digital LTD, 12,260 BTC Marathon Digital Holdings, 8,956 BTC Nevertheless, the market seems to have reacted negatively to the news. At 9 am, BTC traded in the $47K range. It dropped continually during the day and around noon it was trading in the $45.5K range. Is MicroStrategy to blame? Or was it just a coincidence? Featured Image by terimakasih0 on Pixabay | Charts by TradingView