Crypto News Dec 16, 2021

  1. 5 things to consider when evaluating a new blockchain 

The combination of smart contracts and blockchain expanded the application scenario of blockchain, entering the 2.0 stage with Etherum as an excellent representative. Most DeFi projects were basically developed only on Ethereum due to its user-friendly development experience and mature network environment. Hence, Ethereum has led this industry of blockchain. A blockchain is a network that supports various types of application development such as DeFi. Unlike on-chain projects, blockchain networks as the infrastructure focus more on the construction of its ecosystem. Once the ecosystem is formed, the Matthew effect will appear and eventually the head blockchain will take up more than 80% of the market share.

Unusual trades are often a sign of funny business, as in the case of the person who spent $530 million to buy an NFT from themselves. In Saturday’s case, the cause was a simple, devastating “fat-finger error.”  The Bored Ape Yacht Club is a collection of 10,000 NFTs, each depicting an ape with different traits and visual attributes. It may sound arcane, but it’s one of the most prestigious NFT collections in the world. Here the owner, real name Max or username maxnaut, meant to list his Bored Ape for 75 ether, or around $300,000. Instead he accidentally listed it for 0.75, one hundredth of the intended price.

Mark Cuban is one of the richest people in the world, But the wealthy maverick is also gaining attention these days as a vocal proponent of blockchain and cryptocurrencies. He thinks that where blockchain technology is today is similar to the early stages of the internet. The billionaire has also invested in several blockchain companies. These include dClimate, the first decentralized blockchain network for climate data, and Blocto, which offers a crypto wallet and nonfungible token (NFT) marketplace.

Observing the cryptocurrency market, you may have seen that if Bitcoin’s price drops, other cryptocurrency values follow suit. The inverse is also true: when bitcoin prices rise, we can expect altcoins to follow suit. When it comes to cryptocurrency, Bitcoin is typically regarded as the first and most important. Investors and industry players have turned to Bitcoin for comfort that there is demand for cryptographically protected digital assets in a market that is arguably still in the proof-of-concept stage. Etherium’s ecosystemic approach to blockchain is a good illustration of how the cryptocurrency market continues its rapid evolution.

Coinbase is bringing NFTs to the desktop browser. People who use Coinbase Wallet for desktop browsers will soon see a new tab called “NFTs,” which will let you access the non-fungible tokens (NFTs) associated with your wallet address. While Coinbase is better known for its cryptocurrency exchange, the company has also been working on a couple of self-custody wallets under the Coinbase Wallet brand. This type of wallets put you in charge of your crypto assets as private keys are stored on your devices. In addition to the new NFT feature, Coinbase has been working on better support for testnets and alternative networks. 

if we’re talking purely about performance, meme coin Shiba Inu has delivered what might be the biggest single-year gain we’ll ever witness. The gains in Shiba Inu are the result of numerous factors, including the fear of missing out, more crypto exchanges listing SHIB for trading. If crypto investors are enamored with the prospects of blockchain-based gaming, they should consider Axie Infinity , which looks to have a good shot at handily outperforming SHIB next year. Another cryptocurrency with a real shot to crush Shiba Inu’s returns in 2022 is Avalanche. A third digital currency that can run circles around Shiba Inu next year is the ultra-popular Cardano.

Cynthia Gentry plans to gift an NFT of a digital land lot for her sister and parents to share in the metaverse. It could cost thousands of dollars, depending on factors like metaverse game, demand and size. San Francisco-based Anisha Sunkerneni is looking forward to gifting her close friends and family their first digital assets, including Ethereum Name Service (ENS) domains and NFTs. The ENS creates a domain, like ”.com,” for the Ethereum blockchain that represents an investor’s cryptocurrency address. An ENS domain name appears as something like “YourName.eth,” rather than the random string of letters and numbers that typically signifies your wallet.

Rarible is the eighth largest marketplace in all-time sales, according to statistics, with $260.45 million in sales across 88,258 traders. Rarible says it has expanded its multi-chain compatibility as it now supports a total of three blockchains which include Ethereum, Flow, and now the Tezos proof-of-stake (PoS) blockchain. The NFT marketplace originally started its services leveraging the Ethereum network but in mid-November, Rarible launched support for the Flow blockchain. The team revealed intentions to create multi-chain compatibility at the end of June, after Rarible raised $14 million from investors.

The Layer 1 blockchain’s AVAX token is up 13.5% today, propelled by yesterday’s announcement that the USDC stablecoin would go live on the network. AVAX started rallying shortly after the news dropped even as many other assets on the market stalled. It’s currently trading at $91.52, which is still around 36% short of its all-time high price of $145 recorded in November. Avalanche is a Proof-of-Stake blockchain that offers compatibility with the Ethereum Virtual Machine. It offers high-speed, low-cost transactions, which has made it one of Ethereum’s strongest competitors alongside Solana. 

  1.  Baltimore ad agency Harvey created NFTs to support the National Aquarium 

Baltimore-based consumer experience and creative agency Harvey has released a series of limited-edition nonfungible tokens (NFTs) to support the conservation mission at Inner Harbor’s National Aquarium. With the increasing popularity of the blockchain and cryptocurrency, Harvey is bringing eyes to an organization that’s dear to the city and often tops the list of reasons folks visit Baltimore. At a base level, as explained in previous reporting, NFTs are digital items that contain verification that the item is authentic and unique.