Monday’s downturn in crypto markets sent several tokens lower, with cardano, polkadot and shiba inu all falling by over 15%. Despite this, there were some notable exceptions which rose to start the week, WAVES being one of them. WAVES WAVES was trading in the green on Monday, as prices rose by as much as 9% […]
Artist collaborations will play a key role in the future of NFT development. For example, Entertainment Asset Pte, Ltd, or DEA, is working with INIMI to launch a digital idol project. In addition, working with a music artist collective will lead to a limited set of music NFTs, ushering in a new era for non-fungible tokens. Project B-IDOL Is Coming Soon NFT technology often revolves around digital artwork, which can be linked to real-world art, although it doesn’t have to be. However, non-fungible tokens are not limited to images, as they can also represent video, music, or other files. The Project B-Idol NFT collection will span a limited number of music NFTs, introducing a different take on the non-fungible token concept. The collection results from a collaboration between DEA and INIMI, the music artist collective directed by SUNNY BOY. A collaborative effort will often help reach a broader audience and bring more credibility to a new NFT collection. DEA and INIMI will launch the collection in the summer of 2022 on the BNB Chain. Moreover, users can acquire the assets through PlayMining NFT Premier, the NFT marketplace built by the DEA team. An INIMI spokesperson adds: “It is a great honor for us to participate in the B-idol project. We have always been very interested in the NFT scene, so we are thrilled to have been asked to participate in this project. We wrote this song with a wish to warm the hearts of people who are experiencing tragic events currently going around the world. We hope our thoughts and prayers will reach as many people as possible.” Project B-idol is a digital idol project developed as NFTs. The limited number of music NFTs will cover various styles of music produced by artist collaborations and community-initiated music productions. Furthermore, creators of these music NFTs can partake in producing Project B-idol through a community voting process. That voting will help determine the future direction of the project. PlayMining Continues To Build Momentum The collab between DEA and INIMI is another feather in the cap of the PlayMining team. DEA spearheads the PlayMining initiative to remove secondary market issues for creators and consumers through GameFi elements. Moreover, PlayMining lets anyone play blockchain games and earn DEP tokens for participation. Holders can leverage these DEP tokens to purchase NFTs on the PlayMining NFT Premier marketplace, including accessing the Project B-idol collection. Additionally, DEA and PlayMining step up their game through the INIMI collaboration. INIMI has established itself as a collective of Tokyo-based artists known for their music featuring pop-culture crossovers. Moreover, INIMI empowers Asian artists and enables them to collaborate globally. The team includes core members such as Monjoe, Cheney, Canchild, Kosuke. etc.
BTC and many altcoins are fast approaching the “capitulation phase,” which is typically followed by the market finding a bottom.
At this point, it is no longer news that bitcoin has now hit its lowest point in three months. The last time the digital asset had seen its price break below $34,000 had been in late January but had continued to hold up well after this. Last time, the low market momentum following the market crash on December 4th had been the culprit. This time around, a whole different beast is behind the wheel of the tumbling asset value. Stock Market On The Rocks Bitcoin’s correlation with the stock market had been on the rise in the past couple of months, eventually hitting a high point in the first quarter of 2022. This correlation had continued to define the market movements of cryptocurrencies over the last few months. In multiple moves, the crypto market has been mirroring the stock market and this same mirroring has triggered the recent downtrend. Most notable has been the decline in the NASDAQ. Dominated by tech stocks, the Nasdaq has taken a beating in the market. In the last week alone, it has lost 1.5% and on a year-to-date basis is not faring as well having lost about 22% in this time period. Related Reading | Tron Is Trading Within Its Triangle Pattern; What Awaits The Coin Next? As the Nasdaq went down last week, so has the crypto market. One difference though has been that the tumble in the crypto market has been more pronounced. It’s easy to see why this is the case given that the largely unregulated crypto market remains more volatile than its stock market counterparts. Hence, coins like bitcoin have recorded about 10% losses in the last week. Now, while the stock market correlation has had a hand in the recent market crash, it is not the only reason for this. Market sentiment had been declining in recent times and this has given rise to more fear in the market. So a crash has been one that is long in the making. Looking To The Future Of Bitcoin Since the crypto market usually follows the movements of bitcoin, looking at the future of this digital asset can often help to see where the market might be headed. With the recent crash, the market has seen more than $200 million taken off the total market cap but indicators point out that this might only be the beginning. Bitcoin had seen multiple bull rallies in 2021 in a pattern that is unheard of in the market. These rallies which had seen the price hit an all-time high of $69,000 have since subsided and are now naturally giving way to the next bear market. Related Reading | TA: Ethereum Bears Aim Big After Recent Breakdown Below $2.5K With the decline, bitcoin is now trading below every significant short and long-term indicator. Being under the 200-day moving average means that investors do not believe that the digital asset will be recovering above $40,000 anytime soon. Since BTC has now lost its footing at its strongest support level, which was $36,000, bears now have majority control of the market. It is likely that the market will see BTC below $30,000 following this crash before any significant recovery. Featured image from TIME.com, chart from TradingView.com
PRESS RELEASE. Singapore – Game Space is proud to announce the release of Merge Bird on its GameFi-as-a-Service (GaaS) platform. Merge Bird is an on-chain version of the once-popular game ‘Flappy Bird’. Game Space has chosen it as the first on-chain version to pay tribute to the tenth anniversary of ‘Flappy Bird’. Game Space will […]
Bitcoin and altcoins declined sharply in the first quarter in a selloff that was partly triggered by a shift in central bank policy.
Let me start off by saying that a lot of us are facing an acute shortage of fiat aka money to invest and are probably balls deep. Lets just look at the bloodbath right now The market right now BTC – ATH is $68,789.63 and the current price is 33,279$. When we reachieve ATH, that…
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Is the recent big drop in the price of eth connected to the drop in stock market prices? If yes, why should the price of eth have any connection with stock prices since these are very different types of assets? Thanks submitted by /u/NoahsArkJP [link] [comments]
Inflation is sky rocketing, higher interest rates are coming which will mean less money coming into the market, Chinese manufacturing supply chains are crashing thanks to their forced lockdowns in all the major cities AND currencies in countries like: Argentina, Turkey etc are close to hitting hyper inflation. Economic recessions here we come. submitted…
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