Facebook’s Metaverse will support NFTs, Mastercard reveals new crypto offerings, and guess which actor is now the new face of cryptocurrency? These stories and more this week in crypto.
Facebook unveiled an ambitious framework for creating a virtual world known as the Metaverse. The new company name, Meta, reflects the company’s aim to integrate real and digital worlds ever more seamlessly, using technologies such as virtual reality and augmented reality. Part of that vision also includes a role for non-fungible tokens and its forthcoming cryptocurrency, Diem.
Financial giant Mastercard is expanding its crypto offerings and services to loyal customers. The company is providing users with digital wallets that will allow them to trade, hold, and sell digital assets. Customers will also be privy to a new loyalty program that will reward them in virtual currencies through the company’s partnership with Bakkt.
El Salvador has added another 420 bitcoins to its holdings. The purchase was made as Bitcoin briefly dropped to two week lows. In a Twitter thread President Bukele also explained that El Salvador has a trust that holds both the cryptocurrency and US dollars. When bitcoin gains in value, the government withdraws that profit in US dollars.
A new play-to-earn token, Squid Game, seeking to cash in on the popularity of Netflix’s mega-hit Korean survival drama, has risen over 100,000% in the first week. The token will be used to pay for an online game that will launch in November. While the rapid spike in price may be tempting, there were multiple reports of users unable to sell the digital token. Our recommendation is to always exercise caution while trading!
Coinbase’s mobile app was the App Store’s most popular app this week in the United States, ahead of TikTok, YouTube, and Instagram. Coinbase’s iOS app, which was launched in June 2014, has seen almost 1.5 million downloads to date, with a sudden increase in downloads this week. The app is currently the second most popular app in Google’s Play Store.
Adobe is launching a system built into Photoshop that can help prove that the person selling an NFT is the person who made it. The feature, called Content Credentials, will enable NFT sellers to link their Adobe ID with their crypto wallet, allowing compatible NFT marketplaces to show a sort of verified certificate proving the art’s source is authentic.
Tom Brady threw a record 600th career touchdown last Sunday but his wide receiver, Mike Evans, not realising the ball’s significance gave it to a fan in the stands. Understanding its importance, the team negotiated with the fan who agreed to receive $100,000 worth of gifts including one Bitcoin in exchange for the ball.
Oscar-winner Matt Damon is starring in Crypto.com’s new global ad campaign “Fortune Favors the Brave”. The 60-second commercial features Damon taking viewers on a historical journey of brave men who’ve made a difference in the world. The campaign intends to accelerate the world’s transition to cryptocurrency.
A huge thanks to Unstoppable Domains for being our sponsor this week. With Unstoppable Domains choosing Polygon as layer 2 solution, starting November 15th, you will be able to claim NFT domains without paying any claim, renewal or gas fees! Join Polygon’s growing ecosystem of wallets, exchanges and dapps and claim your NFT domain with the link in the description!
That’s what’s happened this week in crypto, see you next week.