Discover the top news in crypto for the week!
This week, the Metaverse registered record sales and interest, while 80 percent of the volume of Non-Fungible Tokens (NFTs) comes from retail investors. At the same time, blockchain technology is decentralising the movie industry while the adoption of crypto in the US reaches 25 percent. Find out the top 5 crypto news of this week.
CryptoPunk #6808 tokenized by Sygnum Bank
CryptoPunks is the most noteworthy NFT collection, with sales records reaching $10 million for only one of the 10,000 unique CryptoPunks that exist in the world.
Sygnum, a firm believer in merging technology development with finance, has tokenized CryptoPunk #6808, a rare female CryptoPunk, using its Desygnate primary market issuance platform.
From January 2022, Sygnum clients will be able to exclusively own tokens based on this tokenized CryptoPunk, getting exposure to the new trend of digital art in a flexible and unique manner. Read more
Crypto Primer: Market drivers
Do you know what moves crypto markets? There are several short-term indicators like Bitcoin’s energy use or Tether’s dominance, but certain underlying drivers move crypto in the long term.
At its core, the adoption of protocols is key for their long-term sustainability, while their innovation sets them apart from competitors and leverages growth.
Moreover, regulation, tech challenges, market sentiment, and macroeconomic factors also drive crypto markets. Find out all the metrics moving crypto. Read more
The Metaverse ‘is already here’ and will give cryptocurrencies the opportunity to make it better, a Solana co-founder says
The Metaverse is booming, beating record sales these past weeks, with pieces of digital land being sold for over $2 million, while total sales surpass $100 million.
The virtual world emergence is just starting for Solana’s co-founder, Anatoly Yakovenko, claiming that it is ‘already here but still in a low fidelity, low-resolution state.’
Metaverse’s selling point is tied with crypto’s decentralisation mantra, giving people more economic opportunities in a virtual world. Read more
Retail buyers made up 80 percent of NFT transactions as sales and volumes have boomed this year: Chainalysis
A new study by Chainalysis reveals that most Non-Fungible Tokens (NFTs) sales are from retail investors, reflecting the appeal of NFTs among crypto enthusiasts.
The large majority (80 percent) of NFT trades are from investors allocating less than $10,000, while 19 percent of NFT transactions are from investors buying between $10,000 and $100,000.
Only one percent of the NFT volume is from institutional investors, even though major brands, from luxury art houses to technology companies, have embraced the tokenization trend. Read more
Why the luxury tourism industry is latching onto blockchain technology
Use-cases around blockchain technology keep growing, with countries like Gibraltar using it to issue digital IDs, while Puerto Rico is tackling corruption with the traceability of blockchain.
Beyond the security and traceability assured by blockchain, other industries such as luxury tourism are also embracing blockchain with efficient loyalty programs, tokenized assets, NFTs, and more.
New luxury tourism projects are also using blockchain marketplaces to bolster property development. Read more
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