Facebook’s Metaverse to support NFTs, Mastercard reveals new crypto offerings, and guess which player is the new face of cryptocurrency now? These stories and more this week in crypto.
Facebook has unveiled an ambitious framework to create a virtual world known as the Metaverse. The new company name, Meta, reflects the company’s goal of integrating the real and digital worlds in an ever more transparent way, using technologies such as virtual reality and augmented reality. Part of that vision also includes a role for non-fungible tokens and its upcoming cryptocurrency, Diem.
Financial giant Mastercard is expanding its crypto offerings and services to its loyal customers. The company provides users with digital wallets that will allow them to trade, hold and sell digital assets. Customers will also benefit from a new loyalty program that will reward them in virtual currencies through the company’s partnership with Bakkt.
El Salvador added 420 more bitcoins to its holdings. The purchase was made as Bitcoin briefly fell to its two-week low. In a Twitter thread, President Bukele also explained that El Salvador has a trust that holds both cryptocurrency and US dollars. When bitcoin appreciates, the government withdraws that profit in US dollars.
A new token to play to win, Squid Game, seeking to capitalize on the popularity of Netflix’s hit Korean survival drama, has grown by 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 surge in prices may be tempting, there have been several reports of users unable to sell the digital token. Our recommendation is to always use caution when trading!
Coinbase’s mobile app was the most popular app on the App Store this week in the United States, ahead of TikTok, YouTube and Instagram. Coinbase’s iOS app, launched in June 2014, has seen nearly 1.5 million downloads so far, with downloads surging sharply this week. The app is currently the second most popular app in the Google 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 allow NFT sellers to link their Adobe ID to their crypto wallet, allowing compatible NFT marketplaces to display some sort of verified certificate proving that the source of the art is genuine.
Tom Brady threw a record 600th career touchdown last Sunday, but his wide receiver Mike Evans, not realizing the importance of the ball, gave it to a fan in the stands. Realizing its importance, the team negotiated with the fan who agreed to receive $ 100,000 in gifts, including a Bitcoin in exchange for the balloon.
Oscar winner Matt Damon stars in Crypto.com’s new global advertising campaign “Fortune favors the brave”. The 60-second commercial features Damon taking viewers on a historic journey of courageous men who made a difference in the world. The campaign aims to accelerate the world’s transition to cryptocurrency.
Many thanks to Unstoppable Domains for being our sponsor this week. With Unstoppable Domains choosing Polygon as your Layer 2 solution, starting November 15, 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 apps and claim your NFT domain with the link in the description!
That’s what happened this week in crypto, see you next week.