Crypto News

Dogecoin (DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout

Dogecoin struggles to maintain its momentum, dropping steadily by 9%. And it seems investors are letting the chips fall where they may. Following the announcement that Elon Musk would buy Twitter, DOGE soared 26% and everything went bullish especially after the news that the Tesla CEO bought Twitter for $44 billion. Suggested Reading | Dogecoin (DOGE) Trading Volume Plunges – Here’s Why Musk Shakes Things Up For DOGE Apparently, the popular meme coin had a sharp spike in April 5 when Musk decided to join Twitter’s board with a 9.2% stake. Now, DOGE is losing all the gains and dropping hard in a short span of time. It seems that the buy pump following the Twitter acquisition of Musk was practically short-lived. Today, DOGE is slipping fast at 9%, according to CoinMarketCap. Currently, the DOGE value is a little above $0.14 per coin which reached its peak yesterday at around $0.1667. In the early months following its launch, DOGE surged and it even peaked at above $0.73 in May 2021. Since then, Dogecoin has had difficulty gaining traction despite being perpetually linked to the self-acclaimed “Dogefather” Musk. His clever memes and tweets stir more attention for dog-inspired meme coins. DOGE total market cap at $18.10 billion on the weekend chart | Source: TradingView.com Most Popular Dog-Inspired Meme Coin Dogecoin was a dog-inspired coin (Shiba Inu dog in particular) created as a joke. It was swiftly created in a matter of three hours. After its creation, Musk was very open about his support to DOGE (and other digital tokens), being what he calls as the people’s crypto. His snaps at Twitter directly impacts DOGE price. The centibillionaire’s influence on the crypto is definitely beyond hype because he can step on the gas and the brakes and it all just happens like clockwork. Suggested Reading | Dogecoin (DOGE) Jumps 30% After Elon Musk Buys Twitter DOGE On Twitter A lot of Dogecoin followers expected that Musk buying Twitter will help speed up DOGE’s tempo. It did for like 24 hours but the excitement and interest quickly dissipated. DOGE on Twitter is certainly something to look forward to. Currently, Twitter already allows tipping using Bitcoin and Ethereum. The social media juggernaut also allows customers to use their Ethereum NFTs as profile photos, being a part of their premium subscription.  With the addition of Dogecoin, customers will have more options in payments. Majority of cryptos are down by 3% at the moment. Shiba Inu has even slipped further down at 3% in the last 24 hours. Meanwhile, the Shiba Inu coin is now set at a market value of $0.00002326. It’s all looking a little bleak at the moment for the crypto world but better days are ahead.   Featured image from The Motley Fool, chart from TradingView.com

Altcoins Analysis Bitcoin Blockchain

Cardano-based Da Vinci’s Locker NFT Marketplace Launches Sale of its $DVL Token

Cardano-based Da Vinci’s Locker NFT Marketplace Launches Sale of its $DVL Token

DaVincis Locker, an NFT marketplace based on Cardano, has launched the private sale of its $DVL Vinci Tokens. The sale started on 5th April 2022 and is still ongoing. The Cross Chain NFT marketplace will use Atomic Swap/Virtual machines that will make Davinci’s Locker a marketplace where anyone can turn their Photos, Ideas, Music, Videos, […]

Crypto News

Celebrity NFTs – What Do They Actually Achieve?

More and more celebrities are joining in on buying and creating NFTs. But where can you actually buy a celebrity NFT? And what does it achieve? During your morning social media scroll, you may have noticed, among all the selfies and vacation photos, the messages from celebrities endorsing NFTs. NFTs are assets on the blockchain that are unique thanks to their identifying information recorded in smart contracts. Creators may tokenize anything from music and photographs to videos or illustrations using NFTs. Most of the discord surrounding NFTs goes down on Twitter since the platform supports NFTs being used as profile pictures in hexagonal frames instead of the typical circle frames everyone else has to use. As the hype grows, celebrities like Paris Hilton, Justin Bieber, and Gwyneth Paltrow have joined the bandwagon. If you have the rare privilege of owning a Bored Ape Yacht Club NFT, you know you get exclusive access to communities and digital rooms where your favorite celebrity hangs out and talks to fans. But it’s not just about buying the latest ape from the Bored Ape Yacht Club or nabbing the latest XCOPY artwork. Celebrities are now creating their very own NFT pieces; Snoop Dogg, for example, has his collection up on OpenSea, and Paris Hilton has teamed up with Superplastic to curate the “Past Lives, New Beginnings” collection. Canadian musician, Grimes, has sold $6 million worth of digital artworks owing to the fact that she was among the first to cash in on the NFT game. Her WarNymph collection of 10 artworks made Grimes among the best-selling NFT creators in the world, successfully creating enough hype and demand for her work. Even Eminem jumped on the bandwagon when he released his “SHADYCON” collection on Nifty Gateway, raising $1.8 million selling digital action figures and instrumental tracks. The problem here, of course, is that not everybody can get their hands on a piece of art created by their favorite star. When they miss out on upcoming celebrity NFT drops, they miss out on the chance to connect with these celebrities. This creates an untapped potential in the space, and one company has figured out how to capitalize on it while giving fans a chance to get closer to their idols. With so many celebrities emerging as voices for cryptocurrencies and NFTs today, there is a need to create a space for singers, actors, and sports stars where they may produce and host their collections for a wider audience. Making it easier for them to join in the blockchain revolution may even encourage long-time fans of these artists to take the plunge into cryptocurrency and NFTs themselves. This platform for celebrities will be hosted by nOFTEN, a brand-new NFT marketplace bringing the luxury gallery experience to the digital world. This digital gallery, however, will only feature collections curated by celebrities for fans to trade, share, buy, sell, and experience special moments never seen before. The platform serves as a medium to connect artists with their fans, creating a simple way for them to engage with dedicated fans and reveal exclusive content in the form of NFTs. These contents would include a personalized video, a new song, a chance to dine with a celebrity, and a video call, among other prizes. All of the above would be supported by the blockchain network, Etherlite, and incorporating these along with the website will tie the whole project together and encourage both communities – artists and fans – to participate and engage with each other. The digital gap is closing as people move to the metaverse for everything from work and school to grocery shopping and sports. nOFTEN closes the gap further by connecting artists with their adoring fanbase, providing both with an opportunity to learn, marvel at the art, and grow.