WEEK 46: NFTs, a source of income for a Russian inmate 🎨; Barbados has an embassy in the Metaverse 💻; AMC Theaters now accept cryptocurrency 🎬

November 15, 2021

Market Brief:

A recent study showed that Dogecoin has more crypt holders than Bitcoin or Ether in the U.S. DOGE isn’t very popular in Asia as Bitcoin, Ether, and Binance Coin. Crypto funds saw an inflow of $1.47 billion last week and broke its previous record of $1.31 billion.

 

Market analysts say that Bitcoin is still in a bullish phase despite pullbacks and some resistance. Solana threw a three-day party for itself, celebrating its rapid growth. 

 

Here are the 24-hour summaries of the five most traded cryptocurrencies as of 16th November 2021:

 

  • BTC -7.63%
  • ETH -8.25%
  • SOL -6.88%
  • XRP -7.61%
  • AVA -5.69%

 

Here’s a summary of the significant changes for the last 24 hours as of 16th November 2021:

Bullish:

  • UMA 28.98%
  • PAXG 0.38%
  • ETHM 79233.32%

Bearish:

  • NKN -12.56%
  • OMG -12.02%
  • LINK -11.86%
  • NU -11.74%
  • CRV -11.30%

 

Russian inmate sells NFTs to support his family

Pavel Skazkin, aka Papasweeds, makes art and sells it from the Russian correctional facility on his iPad. He was arrested for being in possession of a package of marijuana and ecstasy. The 31-year-old creates surreal art which is reflective of the Russian penal system and his life. He’s pledged to donate one-third of the proceeds to Russia Behind Bars, a non-profit focused on aiding inmates and their families.

 

Coinbase holdings can now be shared on social media

Coinbase, the largest U.S. crypto exchange platform is planning to add a new feature where users can share their crypto holdings or portfolio on social media among their friends. The main reason behind the addition of this feature is to empower the crypto-economy and learn from each other according to Rishav Mukherji, the senior product manager at Coinbase.

 

M.I.A. sells album as NFT

Musician and video artist M.I.A. is selling individual tracks from her album Vicki Leekx as NFTs. The album was inspired by Julian Assange and his project WikiLeaks. M.I.A. plans to donate a portion of the proceeds to Courage Foundation, which offers legal support to whistleblowers.

 

AMC now accepting Bitcoin and Ether 

AMC theaters, the largest theater chain in the U.S. is now accepting Bitcoin and Ether for online payment. AMC began accepting doge in October for gift cards and plan to soon accept Dogecoin alongside Bitcoin and Ether. AMC has also announced that they will accept Shiba Inu within two to four months.

 

WazirX userbase has grown tenfold in 2021

WazirX, the Indian cryptocurrency trading reported a 2648% growth in users signing up from Tier II and Tier III cities, in cities other than Mumbai, Kolkata, Delhi, Chennai, Hyderabad, and Bengaluru. WazirX’s trading volume was over $38 billion this year and a lot of it was due to the tremendous help by rural women signing up.

 

Discord scraps plan to integrate with Ethereum

Discord, the popular instant messaging app for gamers recently hinted at integrating Ethereum but faced backlash from the community who was concerned about Ethereums energy usage. The tweet spurred a wave of subscription cancellations and internal conflict among Discord’s staff.

eNaira booms in Nigeria

eNaira, the digital wallet for Nigerian currency has seen 500,000 downloads in the first three weeks of its release. Osita Nwanisobi, a spokesperson for the central bank of Nigeria stated that 78,000 merchants from 160 different countries have signed up for the wallet. Though the Nigerian government banned the use of cryptocurrencies in February, the country has seen a massive surge in crypto users.

 

Barbados now has an embassy in the Metaverse

Barbados, the Caribbean country becomes the first sovereign state to have a digital embassy in the Metaverse, the new 3D iteration of the internet. This further legitimizes the status of the Metaverse. Some things available through the embassy include purchasing land, e-visas, and a “teleport” to transport the user’s avatars between different worlds.

 

Indian MPs say that crypto must be regulated

The first-ever parliament meeting which discussed the field of cryptocurrency took place a few days after Indian Prime Minister Narendra Modi called a meeting with various ministries and RBI about the topic of cryptocurrency.

 

 

 

Interesting financial reads:

 

Twitter CFO Says Investing in Crypto ‘Doesn’t Make Sense Right Now

Economy on a durable path of recovery says RBI article

How the Financial Sector Is Addressing Climate Change—And Why It Matters

U.S. Inflation Hit 31-Year High in October as Consumer Prices Jump 6.2%

Asia markets mixed as China October economic data beats expectations

UK economic rebound slows sharply as supplies hit

 

 

 

 


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