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Transcription
Movements in the metaverse market caught our attention today.
Welcome to The Daily Forkast on November 26, 2021. I’m Megha Chaddah for Forkast News, covering all things blockchain.
Metaverse-related tokens are torn apart with Decentraland taking Axie Infinity to the top of the CryptoMarketCap chart and sportswear maker Adidas getting into the game. We’re going to take a look at this story and many more at to come.
Let’s go from Asia to the rest of the world.
Let’s start with some of the best stories from Asia today.
First, Tether, the issuer of the world’s most popular stablecoin – USDT, says it is happy to work with policymakers.
The U.S. Senate Banking Committee sent a letter to several stablecoin issuers earlier this week inquiring about their operational characteristics.
Tether responded in a series of tweets, saying collaboration is essential for the development of the industry and is dedicated to ensuring customers are properly protected.
Ron Hammond of the Blockchain Association said the letters were likely a sign of an upcoming stablecoins hearing.
Meanwhile, according to The Australian Financial Review, the Reserve Bank of Australia has said it is considering establishing a CBDC for use in wholesale markets.
Earlier this week, the bank’s deputy governor Michele Bullock said CBDCs could lower the cost of cross-border payments and that institutional interest in the technology is growing.
The RBA is already part of an international group of central banks participating in Project Dunbar, testing the use of CBDCs for international settlements.
You can find out more about Forkast. News.
In the markets, tokens linked to the metaverse are on the rise.
However, while a partnership to push the metaverse with Adidas Originals helped the SAND token, it turned out to be more of a wet firecracker for Coinbase.
Forkast. News, Lachlan Keller has more.
The Metaverse has been the hottest trend in tech lately, and the tokens attached to Metaverse projects reflect exactly that.
An expert said Forkast. News that many projects that have lasted for years are finally entering the market alongside a wave of interest in the sector.
“We get a lot of media attention around the metaverse. As we all know from Facebook and Zuckerberg, they want to start their own metaverse, they changed their name to Meta, and it just draws more attention to the space and people start to say, well, maybe it is. -be the future. And then, of course, you get the speculators who are already looking at what’s out there and participating in those ecosystems. “
According to CoinMarketCap, Sandbox’s SAND and Decentraland’s MANA have gained more than 600% over the past month, reaching all-time highs of US $ 8.51 and US $ 5.90 respectively on Thursday.
Decentraland’s growth saw its market capitalization reach US $ 9 billion, overtaking the Axie Infinity AXS governance token, to become the number one token to be won.
The Sandbox, which is a platform built on the Ethereum chain, allows users to explore the virtual world using non-fungible tokens is part of a suite of games offered by unicorn-based Animoca Brands. in Hong Kong. Its SAND token received a boost when sportswear giant Adidas said it was developing an “Adverse†with the platform.
Adidas also announced another crypto-related partnership with the Coinbase exchange. While details are scarce so far, some have speculated that this may be a step towards the company’s acceptance of cryptocurrency payments for its merchandise.
However, his sarcastic tweet that the deal was “probably nothing” does not appear to have helped the Coinbase share price, having fallen around 12% since the start of the month, according to MarketWatch.
Elsewhere in the market, some industry watchers expect Bitcoin’s price volatility to increase, with major trading due to settle monthly options totaling nearly US $ 3 billion on Friday, Deribit settling 2. , 6 billion US dollars alone.
For Forkast. News I am Lachlan Keller.
Meanwhile, the love of crypto landed a soccer superstar in hot water.
A tweet from Andres Iniesta promoting the Binance crypto exchange resulted in a yellow card from the Spanish markets regulator. It is not known if this was a paid promotion. However, the Japanese J1 League player is no stranger to blockchain technology.
Forkast. News Danny Park has more.
Iniesta tweeted “I’m learning to get started with crypto with Binance†with photos of himself using Binance on his laptop and mobile.
The former FC Barcelona and current midfielder of the Japanese Vissel Kobe has more than 25 million followers on Twitter. Iniesta’s tweet has been retweeted over a thousand times, while the same post garnered over 340,000 likes on Instagram.
This prompted a response from Spain’s National Securities Market Commission, warning readers that crypto assets, being unregulated commodities, carry significant risks.
However, this is not Iniesta’s first encounter with blockchain, along with two other former Barcelona stars, Carles Puyol and Ivan de la Pena, Iniesta co-founded Olyseum, a blockchain-powered networking platform for fans. sport.
Meanwhile, other teams and players are experimenting with NFTs. In September, the great Paris Saint-Germain soccer team teamed up with Crypto.com to launch NFTs for their fans.
And in China, Nasdaq-listed internet company The9 Limited has signed an exclusive deal with Korean footballer Son Heung Min, who currently plays for Tottenham Hotspur FC in the Premier League, to release premium NFT collectibles.
While some may be playing a little close to the edge, it looks like the blockchain arena is fast becoming the new playing field for football.
For Forkast. News, I am Danny Park.
And finally, just a little something to keep all the crypto fans away at the end of the week.
It is perhaps not surprising that the subject of many of our stories over the past few months has been named “Word of the Year†for 2021.
While Shortlist of Collins dictionaries showcased both crypto and metaverse, the absolute winner turned out to be NFT, which he defines as “a digital certificate of ownership of a unique asset such as a work of art or a collector’s item.” .
And that’s The Daily Forkast from our perspective here in Asia. Tap like, tap subscribe. Always enjoy it. Help us achieve our goal of reaching more of you. To find out more, visit Forkast.News. I am Megha Chaddah. Until next time.
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