CRYPTO BLOG ALERT

The United Arab Emirates has adopted a favorable approach towards crypto. Now, its postal operator is issuing NFTs to commemorate National Day. The United Arab Emirates’ postal operator is issuing nonfungible token (NFT) stamps to commemorate the federation’s 50th National Day, offering further evidence that digital collectibles are gaining mainstream appeal globally.  Emirates Post Group, or EPG for short, announced this week that it has become the first postal organization in the Middle East and North Africa to issue digital-collectible stamps. The new stamps, which will be unveiled on the Dec. 2 National Holiday, consist of blockchain-based digital twins that will be sold as digital collectibles linked to their physical counterparts. A total of four stamps, each with a distinct design consisting of a national theme, will be issued. Buyers will be able to see the digital design linked to the physical stamp they purchase after scanning a QR code printed on the card. To activate the di

Facebook’s metaverse plans have caused discomfort in the crypto community, but there’s every reason to believe in a decentralized future for metaverses. Facebook has been planning its foray into the metaverse for some time now — possibly even several years. But it’s only recently that its ambitious expansion plans have catapulted the concept into mainstream headlines across the globe. Renaming the parent company to Meta was perhaps the biggest, boldest statement of intent the firm could make. Suddenly, major news outlets were awash with explainer articles, while finance websites have been bubbling with excitement about the investment opportunities in this newly emerging sector.  However, within the crypto sphere, the response has been understandably more muted. After all, decentralized versions of the metaverse have been in development around these parts for several years now. Even worse, the tech giants’ cavalier attitude to user privacy and data harvesting has informed many of the mo

According to the game's developers, it's the largest sum ever paid for virtual real estate. In a tweet posted by Axie Infinity late Thursday, a lucrative land plot within the monster-battle fantasy nonfungible tokens, or NFTs, game sold for 550 ETH ($2.3 million). Axies are creatures that users command to duel other players, battle enemies and complete daily quests. They are also NFTs that can be bred (minted), bought and sold freely. The game takes place in the world of Lunacia, which is inhabited by Axies. It is a 301 x 301 square grid where each section represents a tokenized plot of land called Terra, which players can also buy, sell or rent out to other players at will. The land that was sold yesterday is classified as Genesis, which is the rarest form of virtual real estate available in the Axie Infinity ecosystem. Monsters, known as Chimeras, spawn in the game and terrorize Lunaria. By defeating Chimeras, players earn Smooth Love Potions (SLPs), which can then be sold at

Blockchain games, NFT creators and major corporations are looking to acquire space in the Metaverse. Here’s how the growing sector is impacting SAND, MANA, GALA and WAXP price. Bitcoin’s (BTC) recent foray back below $56,000 sparked a wide-ranging sell-off across the cryptocurrency ecosystem and talks of the price hitting $100,000 by the end of the year quickly morphed into concerns about an impending bear market that could thrust prices into the doldrums for a year or longer.  While there appeared to be absolute carnage in the markets judging by peoples' reaction to the BTC pullback, not all tokens were negatively impacted and gaming tokens focused on the emerging Metaverse have managed to stay in the green. Data from Trading View shows that while the price of Bitcoin dropped below $57,000, the price of Metaverse tokens climbed higher, including a 160% gain for Gala (GALA), a 78% rally for WAX (WAXP), a 62% breakout for The Sandbox (SAND) and 45% for Decentraland (MANA). BTC/USDT

Rapper Post Malone bought two Bored Ape Yacht Club NFTs for a combined 160 ETH via a new Crypto fintech startup Moon Pay. Rapper Post Malone is the latest celebrity to move into nonfungible tokens (NFT) by promoting a major NFT project and a cryptocurrency firm. In his latest collaboration with The Weeknd, a music video for “One Right Now,” Malone purchased an NFT from Bored Ape Yacht Club (BAYC), one of the world’s biggest NFT collections featuring 10,000 unique digital collectibles living on the Ethereum blockchain. In the video, Malone buys the NFT via MoonPay, a fintech startup focused on providing cryptocurrency payments infrastructure. The firm reportedly plans to reach a valuation of $3.4 billion after conducting its first-ever venture capital round. Released on Monday, the music video has since amassed over 5 million views. Apart from the music video, Malone purchased two Bored Apes for a combined 160 Ether (ETH) ($682,000) in TikTok videos by MoonPay. One of the videos reflect

The launch of live in-game NFTs and a rapidly expanding ecosystem boosted the price of CHZ and showcased the project’s strong fundamentals. This year has seen a number of high profile partnerships formed between the cryptocurrency sector and major sports leagues, teams and individual players. Nowadays players engage with their fans by issuing limited edition NFTs and other perks that are associated with crypto and blockchain technology. Crypto companies are also making their presence known stitching their names on jerseys, buying stadium naming rights and paying for cleverly placed primetime commercials between game breaks. One project that has seen a recent surge in interest thanks to its focus in the world of sports and helping fans interact with their favorite teams and players is Chiliz (CHZ), the blockchain network behind the Socios.com fan engagement platform. Data from Trading View shows that since hitting a low of $0.243 on Sept. 29 the price of CHZ spiked 171% to a daily high

Investment bank Morgan Stanley has stated the metaverse is now the next big investment theme, in a note directed to investors Thursday. Strategists from the bank believe this alternate conception of reality is amassing important interest from companies like Meta (formerly Facebook) and Microsoft, which are already trying to grasp the concept. Some of these companies are already capitalizing on it. ‘Metaverse’ The New Buzz Concept Morgan Stanley, one of the biggest investment banks in the world, announced it considers the metaverse the next big investment scheme, according to a note directed to investors Thursday. The metaverse is a concept that includes the construction of an alternate universe where individuals can model their image to whatever they want to be, and perform real-life tasks such as buying things, gaming with friends, and other activities. The concept has already been grasped by companies that are trying to build their respective takes on it. Facebook was renamed to Meta

MADWORLD will launch NFTs depicting content from the Xtreme Pong tournament. Square Enix is looking at NFT gaming, and a Rare Pepe meme NFT sold for $500,000.  NFT MEETS PING PONG Animoca Brands-backed NFT developers MADWORLD has partnered with popular content creator Airrack to drop NFTs dedicated to his upcoming Xtreme Pong tournament. Airrack has around 2.58 million YouTube subscribers and is hosting a live-streamed ping pong tournament on Saturday, Nov. 13, at 1 pm PST that will feature other content creators such as Zach King, Brent Rivera, ZHC and Bryce Hall. The tournament will feature on Airrack’s YouTube channel, and it will see a total of 12 highly affluent creators battle it out for a stake of the $120,000 prize pool. As part of the event, MADWORLD will serve as the official NFT development partner and create NFTs that give hodlers voting power over future Xtreme events. In an announcement shared with Coin telegraph, Eric Decker (Airrack) emphasized that: “It’s important to

NFTs are given new life with advanced blockchain technologies, digital genetics and location-based technologies. Pokemon gained popularity for allowing players to connect, Tamagotchi for its ability to care for digital pets and Crypto Kitties for their ability to earn on the blockchain. While Pokemon and Tamagotchi shaped the lives of the 90s kids, many quickly abandoned their online creatures as they grew up and took on jobs. Crypto Kitties later aimed to address the concern around earnings by building their digital kitties with unique genetic code with the ERC-721 (NFT) Protocol.  NFTs or nonfungible tokens brought about a new kind of revolution, allowing gamers and collectors to earn real money from their online participation in the community. Each asset was completely unique and guaranteed ownership through the blockchain's transparent nature. While Crypto Kitties took collecting to new heights, the game was static, leaving users with little more than a very nice .png or .gif.

Digital art is a billion-dollar business, with everyone from Paris Hilton to Damien Hirst trading in ‘non-fungible tokens’. But are NFTs just a get-rich-quick scheme masquerading as culture? “It’s actually a lot simpler than you think.” It’s a Tuesday afternoon, and somewhat to my surprise, I’m on the phone to Paris Hilton, who is graciously explaining the world of NFTs. Hilton is many things – a reality star, an heiress, an unlikely lockdown fitness guru who uses designer handbags instead of weights. But until now, she has never been considered a significant player in the art world. When artists have acknowledged her, often they’ve done so to fetish her image. In 2008, Damien Hirst bought a portrait of her by the artist Jonathan Yeo, in which her body is constructed from collaged images cut from porn magazines. Yet in the past year she’s become a surreal figurehead in the NFT scene: a world flush with crypto dollars and high on a promise to transform the worlds of art and commerce. Wh

NFTs are more than purchasing million-dollar assets, they are about including everyone in the financial revolution. Play-to-earn has become a popular concept in the gaming industry, with the emergence of blockchain technology taking traditional gaming to the next level. However, with so many players entering the market, these platforms are set for significant competition in the long run if they cannot bring anything above and beyond the model itself. Aloha DeFi aims to take the play-to-earn model to the next level by merging it with the concept of learn-to-earn to give participants numerous earning opportunities. Aloha began its journey as a WiFi-sharing platform focused on providing passive income opportunities to users. In practice, the platform allowed users to earn revenue for sharing mobile bandwidth. With all the potential decentralized finance (DeFi) brings, Aloha has since looked to DeFi to provide more passive earning opportunities to its users, acting as a gateway for users i

The Efinity Metaverse Fund will focus on seed equity investments for projects building Efinity. Blockchain gaming platform Enjin is establishing a new fund to support the development of the metaverse ecosystem and make it more decentralized. Enjin, a startup behind the nonfungible token (NFT)-focused blockchain Efinity, has formed a $100-million fund to support ​​Efinity adopters as well as other related projects, the startup announced Thursday. “It is now time for us to turn this into an official, public, and conscious piece of our growth strategy, and support a free, open, and decentralized Metaverse,” Enjin said, adding that it will consider equity investments in seed funding rounds and token purchases to nurture the ecosystem. Dubbed the “Efinity Metaverse Fund,” the new fund also targets organizations that are focused on cross-chain integrations with the Enjin ecosystem as well as collaborative NFT projects on Efinity and Polkadot. The fund will also support gaming projects built

The UFC has collaborated with Crypto.com for its first official NFT, which will be available on Thursday the 12th. On Tuesday, crypto trading and payments firm Crypto.com revealed the release of the first authorized UFC nonfungible token (NFT).  According to the news release, the UFC’s new NFT series will include digital collectibles such as fight night paintings, event posters, championship belts, fighter personas and avatars. On Thursday, the collection of NFTs known as “UFC 268 Packs” will be made available. The upcoming bout “UFC 268: Usman vs. Covington 2” will be represented by this event’s fight posters and belt designs. The NFTs will be accessible for purchase to fans “while supplies last.” According to Coin telegraph in July, the world’s largest mixed martial art entertainment firm, UFC, signed a $175-million sponsorship deal with Crypto.com. During a press conference at Madison Square Garden in New York City, UFC president Dana White announced the agreement, which he said was

Seven of Australia's 87 richest entrepreneurs aged 40 and under are crypto founders, according to the Australian Financial Review. The AFR’s list contains 87 of Australia’s richest entrepreneurs aged 40 and under, with each boasting a net worth greater than AUD 36 million ($26.9 million). The list is topped by Melanie Perkins and Cliff Obrecht, the co-founder and chief operating officer (COO) of popular graphic design software providers Canva. The married couple has an estimated net worth of AUD 16.5 ($12.3) billion between them. Seven crypto luminaires have debuted on the Australian Financial Review’s (AFR) “Young Rich” list of 2021, including the minds behind some of the leading protocols in the decentralized finance (DeFi) and nonfungible token (NFT) sectors. SYNTHETIX Kain Warwick, the founder of derivatives trading protocol Synthetix is ranked as the most affluent crypto figure in Australia, coming in at seventh overall with an estimated net worth of AUD 879 million ($657 mill

The Squid Game token was surging despite multiple scam warnings and topped above $2,800 in a few days of trading before plummeting to less than $0.01 in minutes. Following a mind-blowing price surge, the Squid Game (SQUID) token plummeted over 99% shortly after Twitter flagged its “official” accounts on the social media platform as suspicious. According to data on CoinMarketCap (CMC), the SQUID token experienced its first downward move on Monday, erasing its entire gains from as much as $2,861 and dropping below $1 in a matter of minutes. At the time of writing, SQUID is trading at $0.0054, down about 99% over the past 24 hours with a trading volume of $13 million. According to CMC, the SQUID token has a “self-reported” market capitalization of $2.8 million at the time of publication. “The CMC team has not verified the project’s market cap,” CMC’s warning reads. The token’s fully diluted market cap is $5 million, down over 99%. The drop comes shortly after Twitter flagged accounts repo