CRYPTO CORNER EPISODE 360
Market Analysis, Updates, News & Reviews
In today’s episode I discuss the hot topics of the day:
- Adidas Teases Possible Metaverse Project
- Grayscale Reports That Metaverse Will be a Trillion-dollar Market by 2025
- Coinbase Acquires BredWallet (BRD)
- Top Chief Staff Depart From Coinmarketcap
☝These are my opinions, not financial advice, always DYOR.
HOT TOPICS TODAY:
Adidas partners with Coinbase in what could be their entry into the NFT space. They are keeping it a mystery for now, not revealing any details about this and the announcement was in an ambiguous tweet saying “We partnered with @Coinbase. Probably nothing,” to which Coinbase replied with a handshaking emoji.
However, earlier, Adidas showed interest in the metaverse space judging by this tweet exchange between Adidas and NFT Metaverse The Sandbox from a couple of days ago:It is quite obvious in my view, that Adidas is entering the NFT space as Coinbase is already developing a dedicated service for that. Adidas announced the organization of an NFT drop with Jacksonville Jaguars quarterback Trevor Lawrence earlier this year, so they’re not new to the concept and have been very successful in their first experience. Metaverse experience might their next move and quite rightly so.
Another headline from today’s hot topics is a report published by Grayscale saying that Metaverse will be a trillion-dollar market by 2025.
Just a few days ago a piece of virtual real estate in the very popular metaverse Decentraland was sold for a record value of $2.4 million (USD) and another one on Axie Infinity sold on November 23 for 550 ETH which was approximately $2.4million (USD) at the time of purchase. Axie Infinity is currently the top performer when it comes to gaming and metaverse tokens. Mana also – they’re both neck in neck.
Grayscale said that:
“Compared to the $10 billion that companies like Facebook plan to invest, and the amounts that could follow from other companies and venture capitalists, the Metaverse is in its early innings.”
Research director David Grider and research analyst Matt Maximo from Grayscale said that Metaverse as an interconnected, experiential, 3D virtual world… it will form a durable, user-owned Internet economy that spans the digital and physical worlds.
The Metaverse is still emerging, but many key components have started to take shape and are revolutionizing everything from e-commerce to media & entertainment, and even real estate, the report stated.
US-based crypto exchange Coinbase announced the acquisition of crypto wallet startup BreadWallet, now going by the Acronym BRD, aiming to create more secure and reliable access to the encrypted decentralized world for users.
Coinbase officially announced on Twitter that the BRD team has deep expertise in the self-custody of encrypted wallets, which will help the adoption of web3.
As soon as the acquisition news was reported, the token price soared by more than 500% – from approximately US$0.16 to US$1.01, according to data from CoinMarketCap.
In April, CoinMarketCap was acquired by leading crypto exchange Binance for something like $400 million (although the full amount was never disclosed.)
As a result, the crypto community was concerned whether CoinMarketCap’s independence could be jeopardized. Well, as it appears, the top executives at the firm have indeed left…
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The information contained in this article is for informational purposes only. Nothing herein shall be construed to be financial or legal advice. The content of this video reflect solely my own opinions. Purchasing cryptocurrencies poses considerable risk of losses.
All information is meant for public awareness and contains what is already in the public domain. Please take this information and do your own research.
Crypto Jargon A-Z is the most comprehensive crypto dictionary (glossary) of all the terms, acronyms and slang that you will find in crypto guides, videos, articles and social media posts. Get more than 1000 terms compiled and defined in a simple way, and enhance your knowledge and understanding of the jargon you see every day. Available on Amazon (Kindle format): https://www.amazon.com/dp/B07Y9DT3H
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