TronWeekly

Crypto World News

You are here: Home / Search for "metaverse"

Search Results for: metaverse

Elrond [EGLD] nears $400 to chart new all-time-high: What’s next?

by

Elrond [EGLD] price taps a new high of $395 today, rising by almost 25% and ending the weekend on a high note. The native token has been grabbing the limelight following its stellar rise after announcements of several high-profile projects. The Elrond ecosystem boasts itself as a technology hub for a new generation of the internet that includes fintech, decentralized finance [DeFi], and the Internet of Things [IoT].

Most recently, the popular Internet-scale blockchain launched an ambitious liquidity incentive program for its Maiar DEX DeFi platform. The latest initiative represented a massive push towards boosting decentralized finance [DeFi] adoption “beyond the current boundaries” in the digital asset ecosystem.

As a matter of fact, Elrond’s growth across decentralized finance (DeFi) protocols has risen by leaps and bounds. At the time of writing, the network charted an all-time high in terms of total value locked (TVL) with $975 million, a surge of 43% in the last 24 hours, according to DefiLlama.

In addition to that, the native token’s price movement appreciated by more than 4830% since the beginning of this year. The overall positive development in the network has been reflected in its price as well.

Let’s delve into the price indicators.

Elrond [EGLD] short-term price chart

EGLDUSD 2021 11 21 14 26 46

The 27th rank coin soared to more than 13% over the last 24 hours. At press time, it was changing hands at $394.92 The digital asset recorded a 24-hour trading volume of $569 million. With the ever-rising volume, the price technicals look encouraging.

As gauged from the 4-hour price chart, The Relative Strength Index [RSI] climbed higher in the overbought territory after moving above 70 demonstrating that buyers are dominating. The MACD indicator too reiterated the bullish narrative. At the same time, the Klinger Oscillator [KO] further signals confirmation of an upswing in the price movement. In brief, Elrond is poised for bigger gains.

Quentin Tarantino’s “secret” Pulp Fiction NFT drowns in troubled water

by

Prominent director Quentin Tarantino was the latest to dive into the NFT space. However, his secret Pulp Fiction NFTs had a lot of trouble surrounding them.

Non-fungible tokens aka NFT has everyone under its arm. A wide range of individuals have either rolled out their own NFT or have jumped into the bandwagon by purchasing them. The crypto-verse has undoubtedly garnered increased recognition following the emergence of NFTs. The fact that celebrities were diving into the space lured several into the market. Recently, director Quentin Tarantino surprised all his fans by announcing the sale of NFTs based on Pulp Fiction, a cult favorite movie.

Just a couple of days ago, Tarantino revealed that he would roll out about seven NFTs. This list included certain scenes from the early script that did not make to the screen. Quentin Tarantino fans were over the moon following this news. However, a seemingly huge roadblock was restricting the launch of this NFT.

Quentin Tarantino forthcoming NFTs slapped with a lawsuit

Entertainment firm, Miramax filed a lawsuit against the director alleging that Tarantino it still entails the rights to the movie. Quentin Tarantino reportedly kept his Pulp Fiction NFT plans under the wraps. Miramax had no idea and finally decided to hit back with a lawsuit.

Citing breach of contract, Miramax’s lawuit against Tarantino read,

“Left unchecked, Tarantino’s conduct could mislead others into believing Miramax is involved in his venture. And it could also mislead others into believing they have the rights to pursue similar deals or offerings, when in fact Miramax holds the rights needed to develop, market, and sell NFTs relating to its deep film library.”

The entertainment agency suggested that it wanted the court to put a hold and dissolve the sale of the Pulp Fiction NFTs. Additionally, Miramax wants Quentin Tarantino to handle the legal fees and costs in the copyrights infringement case.

Tarantino decided to respond through his attorneys who suggested that the sale of NFTs would come under the partial rights that the director entailed.

Universal Music unveils new NFT band ‘Kingship’; More details

by

The Nonfungible token aka NFT market is heating up lately owing to the announcement of several creative projects. Prominent Dutch–American multinational music corporation, Universal Music Group [UMG] has officially dived into the Metaverse realm and announced a new music group called Kingship. The music band will be made up of some well-known nonfungible tokens notably the Bored Ape Yacht Club [BAYC]. Four virtual cartoons figures from the ape-themed club would be part of the metaverse group, as revealed by the music label firm.

Moreover, the team behind the proposed music band will eventually roll out performances as well as release original music. However, there wasn’t any mention of a particular date with regards to the supposed musical extravaganza. Speaking more on the occasion, Label founder Celine Joshua stated,

“Just as we would with any artist or creator, my team and I will work with Kingship to sharpen their vision and develop their unique sound. Each member of the group has their own story and personality that influences and contributes to Kingships’s overall narrative. Will create backstories for the apes and eventually sell NFT performances, providing buyers with unique musical experiences.”

NFT collector, Jimmy McNeils a.k.a j1mmy.eth who furnished the 3D apes for the group and has the commercial rights over the digital collectibles termed that the band represents a new area of the ownership of the NFT market.

Latest Buzz around the NFT domain

It is well known that the NFTs have become one of the most preferred places to earn money according to some owners. Special mention must be made to the famous Bored Ape Yacht Club which consists of thousands of unique digital graphics resembling bored monkeys. By the end of last month, one such artwork of the ape raked in a record $3.4 million in sales. According to the online marketplace OpenSea, two such NFTs are now priced at around a staggering $125k. 

1 1

A few days ago, the largest NFT marketplace, OpenSea steered more than $10 billion in cumulative transaction volume this year since it opened its doors back in 2017. Today, the BAYC sales have risen significantly in the past 24 hours, increasing by 94% along with and the floor price surging to 42 ETH owing to Jimmy Fallon’s recent change of avatar to BAYC on his Twitter profile.

Gemini to list Shiba Inu and other DeFi tokens for users

by

Gemini, a cryptocurrency exchange based in New York, has announced support for new DeFi tokens along with people’s favorite Shiba Inu. In an attempt to provide better services to its users, the crypto exchange has also included Metaverse tokens in its list.

“Shiba Inu (SHIB), Audius (AUDIO), Mask Network (MASK), Wrapped Centrifuge (wCFG), Quant (QNT), Radicle (RAD), Burn (ASH), SuperRare (RARE), Fetch AI (FET)*, and Numeraire (NMR) are now supported for deposits and custody on Gemini.”

said the announcement from Gemini

The cryptocurrency exchange earlier supported the custody of API3 and USD Coin (USDC) and now will list them for trading too. The trading will “first open on our API/FIX and ActiveTrader applications for USD trading pairs,” as the announcement said. 

The trading will then start on the Gemini Mobile App and website. Furthermore, there are now around 60 new tokens that will be available for custody, with 16 new tokens available for custody. The cryptocurrency exchange is the first regulated digital asset service provider in the United States to provide trading for API3, ASH, and RARE.

Gemini steps in for Metaverse

Metaverse tokens have grown in popularity as Facebook’s recent transformation to Meta turned every investor bullish on these tokens. The listing of said tokens on the Gemini exchange depicts the gradual transformation and increased interest in Metaverse projects.

Recently Nike, the major firm in the designing and footwear industry, also decided to enter the Metaverse as it filed for seven trademark applications with the U.S. Patent and Trademark Office on Oct 27. This development was revealed by CNBC.

Also, the humongous rise of the metaverse token, Decentraland (MANA), which also backs the Grayscale Decentraland Trust, portrays the rising interest in metaverse-based projects. Using the token, users can buy, develop, and sell LAND in the Decentraland metaverse as it represents land ownership in the virtual world.

MANA rose by more than 163% in just two weeks, reaching a new all-time high at $4.69. Currently, as per data from the Gemini exchange, the Decentraland token is down by 11.48%, and nearly 30% from its all-time high.

Here’s the reason behind Axie Infinity’s [AXS] impressive streak above $155

by

Popular NFT-based online video game Axie Infinity has continued to post an impressive rally after a period of dull market momentum. After an astonishing rally of over 125%, its native AXS token climbed to an all-time high of $155. According to data provided by IntoTheBlock on Monday,

Axie Infinity’s impressive ascent can be attributed to the roll-out of a huge airdrop to early supporters and the launch of staking for the AXS token. It recovered greatly from a low of just $47 in the last week of September.

ITB’s tweet regarding the same read,

“The price of Axie Infinity token AXS catapulted to a new ATH of $155 propelled by a huge airdrop to early supporters and the launch of staking for AXS token. AXS also saw a massive increase in perpetual swaps volume today with +9 billion, the second-largest ever.”

FA2rhLbXoA0zLyA
Here's the reason behind Axie Infinity's [AXS] impressive streak above $155 6

Axie Infinity exponential growth

Created by Sky Mavis and released in 2018, the Axie ecosystem has bolstered the trend of play-to-earn. The recent stats released by DappRadar gave an overview of its adoption. As a matter of fact, the project noted over $2 billion in NFT sales volume, strengthening Axie’s position as the most valuable NFT collection. As a result, the project went on to eclipse already established biggies such as CryptoPunks, Art Blocks, and NBA Top Shot.

pasted image 0
Here's the reason behind Axie Infinity's [AXS] impressive streak above $155 7

The crypto-based game and blockchain-using metaverse project Axie Infinity has risen sporadically in a very short span of time. Especially in Southeast Asian regions such as the Philippines and Vietnam, the protocol is fueling a digital economy powered by cryptocurrency assets. Many are also deriving the main source of income from the Axie ecosystem precisely in areas where traditional financial and banking services are not easily accessible and are often expensive.

In addition to that, the ownership of the AXS token is also on an upward trajectory. ITB had recently revealed that there are more than 17,480 address holders with AXS. This figure essentially demonstrated a new peak and a whopping appreciation of more than 400% in terms of year-to-date [YTD]. It can be inferred that the latest growth signals the growing popularity of Axie Infinity and play-to-earn non-fungible token [NFT] gaming.

FAYBcY2WYAQNNt4
Here's the reason behind Axie Infinity's [AXS] impressive streak above $155 8

The World’s first community-driven NFT, manga & anime series on the Cardano Blockchain – ADA Ninjaz

by

The ADA Ninjaz NFT is a collection of randomly generated 2D avatars. The designs are inspired by the popular Seinen anime art style, combining attributes from traditional ninja lore with modern-day clothing assets. The lore will be focused around a raging war between 3 individual clans (more details to come), each with their own unique identity and reason for fighting for their clan’s survival.

On top of collectible NFTs, ADA Ninjaz will be the world’s first community-driven manga series. Owners of ADA Ninjaz NFTs will be given voting power to decide the ultimate fate of each clan. Founded by two friends whose goal is to develop one of the strongest anime communities within the NFT space. We want to show the world how incredibly fun, intelligent, and powerful the anime community is and that all of us can do anything when united as one.

This is a tribute to the digital age, ADA Ninjaz is taking the themes of manga and anime that billions of people grew up in love with, integrating it with blockchain technology, and opening up a world of opportunities within the metaverse, both for developers and the future community.

VISION

Imagine a world where like-minded Ninjaz come together to engage, play, and just have good old fashion fun. Maybe it’s in the physical realm, with clan meetups to discuss the latest news on all things ADA Ninjaz and anime. Perhaps it’s in the virtual realm, where you can log in as your purchased NFT and fight in a battle royale-style tournament, or even attend a virtual music festival.

What if, instead of watching your favorite 2D anime on a computer monitor, you get to watch it in 3Dand from the point of view of your favorite character? This is the future and vision of the ADA Ninjaz ecosystem. We aren’t just bringing manga into the NFT-universe. We are striving for something so much more while respecting and appreciating the beauty of the NFT world and community. The ADA Ninjaz team aims to see Ninjaz merchandise worn by groups of friends around the streets.

For it to be represented at comic-cons and people to cosplay as their favorite ADA Ninjaz. And of course, to have developed multiple successful indie platformer games enjoyed by millions of gamers. These ambitions are big, but with you — the investors and supporters, the incredible people already associated with ADA Ninjaz, and of course, the wider NFT community, this is possible.

Sneak Peek 8
The World’s first community-driven NFT, manga & anime series on the Cardano Blockchain – ADA Ninjaz 11

WHY CARDANO?

Firstly, the whole of ADA Ninjaz thanks the team over at Ethereum who have been able to deliver an incredible smart contract platform for NFTs to thrive. Without such adoption, the ADA Ninjaz concept may not have had reason to exist.

That being said, it is well understood that the biggest constraint, by far, on the current Ethereum network is the network congestion and consequently high gas (transaction) fees. There are so many issues that come with this, from gas wars through to lost money from failed transactions.

For example, a recent NFT sale cost users $790,000 in failed Ethereum transactions. That alone is enough in transaction fees to purchase an entirely new set of NFTs!

But the biggest problem that we see too often is that smaller buyers (<$500 to invest in NFTs) are immediately priced out of most, if not all big NFT launches. Say you only have $200 to spend on NFTs this month, then paying the same, if not more, in gas fees to buy an NFT, isn’t plausible.

Ethereum is therefore currently a play area for the big boys with big money. That is unfortunately not fair for the smaller investors, the ones who want to grow their understanding of this space, grow their NFT collection, and more often than not, feel a part of a virtual community.

This is why we’ve decided to launch our NFT collectibles on the Cardano blockchain — so that the smaller players have a chance at owning their very own NFT and also be part of this amazing community.

Additionally, the ADA Ninjaz team believes in the Cardano ecosystem. It is okay that the Cardano ecosystem is still young, with smart contracts not yet really mature. We are young too. The beauty of a growing blockchain protocol is that we get ample time to also work on developing our product range and offering. The ADA Ninjaz Team is in this for the long haul.

CORE PARTNERS

NFT-Maker Pro will lead the development of the backend solution and help us launch our project on the Cardano blockchain. Having the Godfather of Cardano NFTs himself, Patrick Tobler and the team at NFT-Maker Pro, rest assured things will be as smooth as they can be on the backend front, as he is second-to-none when it comes to all backend solutions on Cardano.

Le4f Agency will lead the development of the front-end solution. Led by CEO, Kristian Portz, they will create a classic and timeless website for us to share the vision and story that is the ADA Ninjaz universe. With a superb team that is highly experienced in creating a user interface that is engaging, accessible, and most importantly in sync with the Cardano backend, this partnership will enable ADA Ninjaz to really take its front-end to the next level.

Ignacio J. Durruty – master storyteller. A sublime wordsmith, Ignacio possesses significant prowess when it comes to creating stories in fictional universes and screenwriting. His works have received a long list of accolades, particularly in the cinematic space, including, but not limited to:

• 2nd place – 2019 Barcelona Film Festival

• Finalist – 2019 Amsterdam Film Festival

• Finalist – 2019 Davinci Film Festival

• Semi-finalist – 2019 TMFF

• Official Selection – 2019 Las Vegas International film & Screenwriting Competition

Mirai Music Productions, a super Los Angeles-based music production duo that has been onboarded to develop an original soundtrack for ADA Ninjaz.Lead by Riccardo Lovatto and Jacopo Mazza, they will take charge of all things music, transcending written words into sounds and music that will be nothing short of breathtaking.

Riccardo, a music composer, is well-versed in the music of anime and manga, having lived in Japan for several years taught seminars at universities there, whilst playing at Jazz clubs all over the country. In 2018, his first recording “Shinnen” reached the “Top 300 All Genre” chart of Deezer South Korea. Hence, it is of no surprise that they are exactly who the ADA Ninjaz team was looking for to produce the OST.

Manga Panel Origins
The World’s first community-driven NFT, manga & anime series on the Cardano Blockchain – ADA Ninjaz 12

Unleash Your Inner Ninja!

Head on over to the ADA Ninjaz Discord channel and say hello!

Stay up-to-date with all things Ninjaz on Twitter.

Things to look forward to in the coming days and weeks:

1. The launch of the ADA Ninjaz website and official sale date.

2. The story and lore of the ADA Ninjaz universe.

3. Transparency in the initial allocations/giveaways of NFTs.

4. Development roadmap and whitelisting

For now, stay tuned, keep calm and be a ninja!

Tron Foundation partners with Korea’s first multi-chain decentralized NFT wallet

by

NFT space has been soaring higher than ever. Running parallel to this trend, the Tron Foundation has announced completing integration with Korea’s first multi-chain decentralized NFT wallet, Talken. While Tron is yet to release an official statement on the latest partnership, it took Twitter to reveal that as Talken completes the deployment of Tron, the two parties will explore ways to offer the TRX ecosystem users “a special joint NFT with commemorative significance and circulation value.”

The duo will also offer the token holders with additional perks to encourage Talken’s ecosystem development. The Justin Sun-led foundation’s tweet regarding the same read,

“We are pleased to announce that we have reached a strategic partnership with the NFT infrastructure Talken. We will strive to build an NFT world with a wide range of content without borders, jointly provide digital creators and collectors with better tools and services!”

Tron’s strengthening its foothold in the NFT space

The latest development comes after the foundation formed a strategic partnership with the NFT social platform called DeFine in August. As reported by TWJ earlier, the main objective behind the integration was to explore the TRX ecosystem and let all creators including artists, musicians, influencers, gamers, and athletes to engage and interact with their respective fanbase with digital assets such as non-fungible tokens and social/fan tokens.

A few weeks later, the social NFT platform revealed receiving a strategic investment from the Tron Foundation. DeFine had also announced that the capital raised by the platform will be deployed to scale products, NFT multi-chain ecosystem expansion, and the exploration of NFT-Fi and Metaverse.

Tron Foundation has been very vocal about venturing into the NFT marketplace and its ambitious roadmap to expand its footprint across the space. The TRX ecosystem aims to streamline comprehensive and efficient infrastructure to convert artworks as NFTs on the blockchain. In line with this, the blockchain network had previously launched its first-ever non-fungible token standard TRC-721.

NFT social platform announces strategic investment from Tron Foundation

by

DeFine, a social NFT platform announced receiving a strategic investment from the Tron Foundation. The fund secured by the platform will be used primarily to develop products, NFT multi-chain ecosystem expansion, and the exploration of NFT-Fi and Metaverse. According to the official announcement, DeFine is one of the first non-fungible token platforms to raise investment from the Justin Sun-led foundation.

The platform tweeted,

“We are excited to announce that DeFine became one of the first NFT platforms that has received a strategic investment from Tron Foundation. We will work together to develop the First NFT marketplace in the TRON ecosystem”

As per the latest deal, the Tron Foundation is essentially participating in this investment as a strategic partner, wherein the two entities join forces to develop the first-ever non-fungible token marketplace in the Tron ecosystem and release auctions in the near future.

The latest news comes just a few weeks after, DeFine and Tron formed a strategic partnership. The main objective behind the integration of DeFine on the Tron network was to provide access to users and creators across the world to utilize the platform that is cost and time-efficient. Besides, DeFine also plans to explore bringing its unique non-fungible token-based social profile system to the Tron ecosystem.

Tron’s tryst with NFT ecosystem

The craze behind the non-fungible tokens appears to be in full swing and the Tron founder Justin Sun is no less than an avid fan of the thriving industry. The Chinese wunderkind had recently launched the JUST NFT fund in a bid to mint the world’s top artists on the blockchain.

While commenting on the launch of his very own non-fungible token platform, Sun had earlier said that he believes that the value of the art market is set by the leading artists and works, and only the artists at the very top of the pyramid can hold and grow their value over time.

Additionally, in March this year, the Tron Foundation had launched TRC-721, the first NFT-based standard. Shortly after this, the organization revealed that it was working on revamping BTFS, the biggest system of distributed storage in the world, to generate a robust infrastructure for delivering artworks as NFT collections on the blockchain network.

Coca-Cola is the latest to jump on to the NFT bandwagon

by

Non-fungible tokens or NFTs have certainly caught the eye of the globe. Several prominent firms were seen exploring the NFT shore and Coca-Cola became the latest one to do so.

NFTs took the world by storm. The COVID-19 pandemic forced the globe to take the digital route. Further embracing digitalization, NFTs grew into popularity. From Fox entertainment to the prominent singer, Katy Perry, everyone and every firm was seen diving into the NFT space. Just yesterday Yahoo! Japan announced its entry into the NFT space. Coca-Cola also joined this list, however, the platform revealed that it was exploring the NFT space with a cause.

In a recent press release, Coca-Cola pointed out that would roll out an array of NFTs in order to raise money through an auction for the Special Olympics.

Coca-Cola to raise money for Special Olympics International

The platform would reportedly hold a three-day auction from 12:01 a.m. UTC on 30 July to 8 p.m. UTC on 2 August, on the OpenSea marketplace. The entire auction and sale of these NFTs would be inspired by video-game loot boxes. These digital art pieces would have “hidden surprises” that would be available to whoever makes the purchase. The collection is formulated in partnership with digital designer Tafi.

Selman Careaga, president, Global Coca-Cola Trademark, addressed the soft drink manufacturer’s latest move and stated,

 “We are excited to share our first NFTs with the metaverse, where new friendships are being forged in new ways in new worlds, and to support our longstanding friend and partner, Special Olympics International. Each NFT was created to celebrate elements that are core to the Coca-Cola brand, reinterpreted for a virtual world in new and exciting ways.”

Furthermore, the auction would entail the “Friendship Box” which be the highlight of the event. A classic Coca-Cola Bubble Jacket along with a Sound Visualizer as well as a Friendship Card would be featured in the auction.

Is Ethereum a Better Asset Allocation for Performance Right Now?

by

After weeks of dull price movement, Ethereum was finally handed over the baton. At a time when Bitcoin and other altcoins were struggling, Ethereum has gained some serious pace. The second-largest cryptocurrency was trading close to its recently established ATH near $2,600.

According to Raoul Pal, former Goldman Sachs executive, Ethereum is rapidly becoming the currency of the digital world while BTC is the “pristine collateral and base layer”. Talking about the world’s largest altcoin’s rise to prominence, Pal noted,

“When you price anything up in DeFi, NFT, community tokens, or even metaverse worlds, everything is basically priced in ETH, including designers time, etc. The ETH space is growing at 100% YoY (vs 50% YOY for BTC) and it is attracting a massive proportion of the developer talent and applications too”

While asserting that he is, in fact, a massive BTC bull, Pal stated that he believes ETH is the better asset allocation for performance right now.

Bitcoin’s Price Stagnates While Ethereum Pops

Here are some fresh stats: Bitcoin’s market cap dominance has hit levels not seen since summer 2018 and was currently found at 50.2%. Ethereum’s dominance, on the other hand, has risen to 14.2%.

Moreover, BTC/USD registered YTD gains of nearly 90%. During the same window, ETH/USD was up by almost 240%.

Historically, whenever Ethereum has outperformed Bitcoin, it catalyzed altcoins’ uptrend. Its price hit a new ATH of $2,547 a few days ago and many experts in the community speculate that the crypto might resume an altcoin rally soon. However, it is important to note that altcoins are yet to step into the spotlight as many of them have failed to recover from the recent crash.

There are eyes at ETH/BTC pair as well. Analysts believe in massive upside potential as they anticipate a potential breakout that could lead to a broader parabolic rally, especially for the altcoins. A prominent cryptocurrency trader called ‘Bluntz‘ noted that the trading pair looks “insane” after market capitulation. His tweet read,

“Eth double bottom on 4h, and eth/btc looks absolutely insane again. Wow, that was the greatest capitulation event i can remember for a long time. even I capitulated most of my lev trades.”