Category: NFTs

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Crypto News Market Analysis NFTs Trading

Filecoin pumps +52% in a Single Day amid Partnership with new NFT Ecosystem

File coin is trading in an uptrend here like many other altcoins. The Cryptocurrency Filecoin just went up +52% in a single day by breaking a Rising wedge pattern with strong buying volume and surges over +135.74% in a week.

What is Filecoin?

Filecoin is a system that hosts data in a decentralized manner with the goal of storing “humanity’s most important information.” Unlike cloud-storage companies which are prone to the problems of centralization, Filecoin leverages its decentralized nature to protect the integrity of a data’s location, keeping it easily retrievable and hard to censor.

Filecoin Quick Stats

SYMBOL:FIL
Global rank:9
Market cap:$18,203,679,833 AUD
Current price:$289.51 AUD
All time high price:$296.30 AUD
1 day:+52.38%
7 day:+135.74%
1 year:+5405.74%

Filecoin Price Analysis

At the time of writing, Filecoin is ranked 9th cryptocurrency globally and the current price is $289 AUD. This is a +135.74% increase since 26th March 2021 (7 days ago) as shown in the chart below.

Source: TradingView

After looking at the above 4-hour candle chart, we can clearly see that Filecoin was trading inside the Rising wedge pattern on the FIL/USDT pair. The first resistance was on the $220 AUD price levels which Filecoin broke with a strong bullish trend buying volume and is now heading towards the all-time high price in AUD. Seeing that many altcoins are holding strong this week, Filecoin is likely to continue to increase in the uptrend if the traders keep buying with high volume.

“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”

What do the Technical indicators say?

The Filecoin TradingView indicators (on the 1 day) mainly indicate FIL as a strong buy, except the Oscillators which indicate FIL as a neutral.

So Why did Filecoin Breakout?

General market sentiment seems to suggest cryptos are in the middle of the bull run season, which could have contributed to the recent breakout. Another reason for this sudden pump in price could be whales secretly buying Filecoin for the next Altcoins rally. It could also have contributed to some of the recent news regarding partnership with the new NFT Ecosystem.

Investment giant Grayscale recently launched a Filecoin trust, looking at purchasing FIL tokens and offering institutional investors the FIL-backed shares. Soon after, the trust attracted interest from mainstream investors: ByBt.com data showed that Grayscale Filecoin Trust added 45,550 FIL to its reserves.

Read more Filecoin News.

Where to Buy or Trade Filecoin?

Vite has the highest liquidity on Binance exchange so that would help for trading FIL/BTC or FIL/USDT pairs. However, if you’re just looking at buying some quick and HODLing then Swyftx exchange is a popular choice in Australia.

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Cardano NFTs

Cardano Could Support NFTs Marketplaces Soon

As the popularity of NFTs (Non-Fungible Token) grows, Cardano’s co-founder Charles Hoskinson is planning to integrate NFT marketplaces into the protocol, adding that negotiations are already being made with top marketplaces.

Currently, the project is working on Alonzo, its next fork, and Hoskinson has been exploring the NFT movement in the meantime. In a podcast, he said that Cardano has the capacity to develop an ecosystem for these marketplaces to operate seamlessly next to decentralised exchanges.

With NFTs we’ve already approached several of the top-10 marketplaces and begun discussions porting them over to Cardano. It’s an easy conversation, and it’s just engineering resources.

NFTs Being Sold for Millions

Hoskinson spoke about NFTs in a previous podcast, stating that current DAapps only work for speculation, like NFT items being sold for millions of dollars and not addressing the real issues of the DeFi community:

“Most DApps are currently centralised by a small group of actors who control the changes in the protocols, we have to actually listen to what people are saying”

While Cardano is currently in the middle stage of its upgrade, working on the programmability at the base layer, the protocol is “overwhelming subscribed” from companies interested in its network.

We’re overwhelmingly subscribed. At the moment, our company has no more capacity to service the deal flow that comes in for Cardano. People come to me, unless it’s a super high-value deal, and some have, we jump them up the queue, we say ‘No’ and turn them down.

Hoskinson previously said that over 100 companies could migrate to Cardano once the Goguen upgrade is finished. Despite not having smart contracts yet, the protocol will not host Ethereum-based smart contracts, which would “lead the company to the same issues such as scalability and high gas fees.”

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Giveaways NFTs

NFT Giveaway – Get This Rainbow Pikachu NFT for Free!

We’re giving away an NFT each week for a few weeks to reward our readers, and help them participate in the crypto space and learn about non-fungible tokens (NFTs).

This weeks giveaway is this cute rainbow pikachu! You can view the item on the NFT marketplace OpenSea.

How to win:

  1. Follow us on Twitter
  2. Comment on the Twitter Thread why you would like to win

Good luck!

Update: This giveaway has ended and winner is below.

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Crypto Art Crypto News NFTs

TIME Magazine is Auctioning NFTs and Accepting Crypto For Subscriptions

TIME magazine has revealed that it is going to be joining the blockchain and crypto space by accepting crypto as payment for their digital subscriptions, as well as holding an NFT auction.

Three Time Magazine Covers to be Auctioned

TIME has designed its first-ever cover exclusively as an NFT, featuring the title “Is Fiat Dead?” It’s a reference to one of its most iconic cover designs from the April 8, 1966 “Is God Dead?” and April 3, 2017 “Is Truth Dead?” editions — and an acknowledgement of the rise of digital currency as an asset class.

Time on SuperRare

TIME’s red border is one of our or most iconic assets. We already have an existing business with the cover store in the analogue space. Moving into the NFT collectibles is a natural extension for us […]

Keith Grossman, TIME magazine President

Grossman also stated that it is their job to provide access to world-class content regardless of medium or payment type. One of their long term goals are to provide the media industry with a “turnkey enterprise solution” through crypto and NFT offerings, inspired by the work being done by The Washington Post with Zeus.

And so our goal is to get there first to get there fast. And then to be able to open it up to others.

Keith Grossman, TIME magazine President

TIME Accepting Crypto for Their Magazine Subscription

One of the other steps the magazine is taking, is by accepting crypto for their digital subscription. As yet it isn’t known which currencies they will be accepting, as soon as we find out we’ll update it here.

Time will be joining a growing list of major U.S. companies that are using/accepting cryptocurrencies including Tesla, Mastercard, Microsoft and many more.

TIME Magazine looking for a crypto savvy CFO

TIME is looking for a CFO, and one of the key job requirements? “Comfort with cryptocurrencies.” The Job listing just shows the magazine’s conviction to not be left behind the technological curve.

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Crypto News Dogecoin NFTs Sports Worldwide

Crypto.com to Launch an NFT Platform Featuring Celebrities in Music and Sports

Crypto.com to Launch an NFT Platform Featuring Celebrities in Music, Sports

Popular digital currency exchange and trading platform, Crypto.com is venturing into the non-fungible token (NFT) market. 

The exchange announced on Tuesday that it’s launching a NFT marketplace, which will exclusively feature content from celebrities in different industries, including sports and music. Noteworthily, this follows the growing interest and boom in the NFT market.

Crypto.com Collaborates with Snoop Dogg, Aston Martin, and Others

The Crypto.com NFT marketplace is launching this Friday as an invite-only platform, per the announcement. It’s basically aimed at delivering unique and compelling content. Hence, the exchange partnered with celebrities in sports, athletics, music, and art for the inaugural contents on the soon-to-launch NFT marketplace. 

The partners include Snoop Dogg, Aston Martin Cognizant Formula OneTM, Klarens Malluta with Lionel Richie, Axel Mansoor, Bag Raiders, BossLogic, and many others. The crypto exchange intends to collaborate with more mainstream artists in the coming weeks. 

First F1 Team to Join the NFT Market

The partnership with Aston Martin Cognizant Formula One Team comes as they are planning to return to F1 racing after 60 years.

We’re excited to be the first Formula 1 team to offer a new way for our fans to own a piece of our history. The collection of NFTs we’re making available capture the very first moments of our return to F1 after more than six decades

Jefferson Slack, Managing Director at Aston Martin Cognizant Formula One Team.

Meanwhile, Crypto.com noted in the announcement that the NFT platform would be open to both users and non-users of the exchange. Among other things, the platform will allow collectors or the celebrities’ supporters to purchase or sell their NFTs using over 20 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Dogecoin (DOGE).

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Crypto Art Crypto News NFTs

Eight CarbonDrop Artworks From Renowned NFT Artists Attracts Over $2.2 Million

Eight CarbonDrop Artworks From Renowned NFT Artists Attracts Over $2.2 Million

Popular digital artists, including Beeple, are auctioning carbon-neutral artworks as Non-Fungible Tokens (NFTs). This is part of a collaborative effort between the NFT artists and the Open Earth Foundation to create awareness of climate change and essentially raise funds to support its CarbonDrop initiative, which is aimed at improving the planetary condition.

A total of eight artworks have been issued under this initiative, all of which see over US$2 million bids.

CarbonDrop NFTs Attracts Over $2M Bids

The artists involved in the CarbonDrop initiative include Beeple, Refik Anadol, Sara Ludy, Mieke Marple, GMUNK, Kyle Gordon, Andres Reisinger, and FVCKRENDER. The carbon-neutral NFTs are being auctioned on Nifty Gateway, one of the leading NFTs marketplace. So far, the eight artworks combined have amassed US$2,218,951 in bids at the time of writing.

Beeple’s ‘OCEAN FRONT’ NFT has the highest bids in terms of value. It attracted a US$2 million bid during press time. Interestingly, Justin Sun, the CEO and founder of the Tron blockchain, is one of the highest bidders. Meanwhile, other artworks are yet to reach a six-figure bid.

Beeple’s OCEAN FRONT NFT

NFTs Artists Help to Fight Climate Change

All the proceeds from the digital art collection will be donated to Open Earth Foundation, as noted on the auction page. The 501c3 non-profit organisation is on a mission to increase planetary resilience. It harnesses emerging digital technology, such as blockchain and radical collaborations, to deploy and scale concrete systemic solutions at a planetary level.

The NFT auction is also committed to balance its own carbon footprint as detailed on their website.

Each unique carbon offset is pegged to the unique artwork in order to compensate the underlying emissions from the NFT minting. Artists will further commit to offset their historical NFT footprint to create a net positive climate impact.

CarbonDrop.art

Categories
Crypto News DeFi NFTs

Decentralised Music? NFTs Could Cut Out Major Record Labels

Non-Fungible Tokens (NFT) are providing artists and musicians independency by selling their tokenized artworks or albums in DeFi marketplaces, instead of relying on major record labels.

According to Business Insider, more artists are joining the NFT movement by selling their tokenized work for large sums. A new wave of artists is now considering directly offering their music in the form of tokenized products sold on DeFi marketplaces, rather than having it handled by traditional third parties.

Crypto Art Changing the Music Industry

The implications of this new approach appear to be quite significant, for example from a royalties perspective. Many musicians have complained how the current revenue from streaming platforms like Spotify tends to be quite small after the cut taken by labels and distributors. Experts in the music industry have stated that crypto art could indeed shift the power structure of many companies. Researcher Cherie Hu said that NFTs can potentially change the scenario for record labels and their relationship with musicians.

They could provide more incentive for labels to better serve artists. Artists will likely be asking themselves ‘Is my label doing the best job at maximizing the value of my relationship with fans? Do they deserve a cut of these NFTs?’

Cherie Hu [Business Insider]

Millions of Dollars in NFTs

Some of the first and most popular NFT sales were Kings of Leon and 3LAU. Both artists sold their NFT albums for millions of dollars.

Now it seems that artists can connect directly to fans through NFTs by offering special items, maybe even reserved to NFT holders.

NFTs are built on decentralization, connecting fans directly with creators. The current systems in place are opaque and antiquated. NFTs cut out the middleman.

Matt Colon, Steve Aoki’s manager [Business Insider]

NFTs are currently the hottest trend in the fintech space. From books to a single tweet can be auctioned. Jack Dorsey sold his first tweet, which is also the first tweet ever on the social network. Justin Sun, CEO of Tron, offered two million dollars for it.

Auctioning of Jack Dorsey’s first tweet

Users from Reddit are discussing the NFT craze with DeFi, arguing that record labels will have to adapt to new emerging technologies to stay in business.

Categories
Blockchain NFTs Scams

Guggenheim Museum Looking For NFT-Read Intern

The Guggenheim art museum is one of the world’s top repositories of art — and according to new MBA internship opportunities, they may be looking to add some NFTs to their collection. 

Looking To Get In On The Action

Applicants to the internship in question will have to work on the “evaluation of non-fungible token (NFT) based art, a nascent, fast-growing, highly scalable area of the art world.”

They will have to define how blockchain may change the way a museum defines its collection strategy — and more precisely, in what ways should the Guggenheim become a digital experience, alongside more traditional art forms such as paintings.

Just yesterday, a piece of virtual real estate created by artist Christa KIM as an NFT was sold for $500,000. Not to mention the Beeple NFT that sold for over $6 million worth of ETH. 

 Now, the Guggenheim seems to be looking to get in on the action and snap up a few of these NFTs themselves. 

NFTs have soared in popularity within the past month or so —  and generated quite a bit of controversy in the process. While many say that the so-called NFT gold rush is purely a result of the ever-changing nature of art. Others say that they are a fad that will soon pass. 

NFT scams have also started popping up —  for instance, artist Derek Laufman has had his art stolen and made into NFTs without his permission.

 “I was basically kind of annoyed that somebody had, quote, unquote, verified me as on that platform. I dealt with having my art stolen for years. And I’m sort of numb to that. But when somebody is claiming to be you … that kind of, you know, pisses me off.”

But whether NFT should stand for Non-Fungible Token or New-Fangled Token, the past has shown that widespread adoption of crypto assets by well-established companies has only made their value increase – and names like Guggenheim, Sotheby and Christie’s tend to carry weight in the art world.

Categories
Fan Tokens NFTs Sports Tokens

Manchester City Officially Joins Socios, As $CITY Token Adds To The CHZ Sports Fan Token Ecosystem

English Premier League leaders Manchester City officially announced partnership with Socios Fan Token App on Friday 19th March.

The Manchester City digital fan token is called $CITY and will allow supporters around the world access to VIP rewards, club promotions, games as well as augmented reality-enabled features.

The announcement follows other big soccer club names that have already joined such as Juventus ($JUV), Paris-saint Germain ($PSG) and Barcelona ($BAR).

The Socios App is powered by the Chiliz Token (CHZ) which has already mooned 7,000% in the past 3 months.

“We are excited to launch the new Manchester City Fan Token, which will provide another opportunity for our fans all over the world to get even closer to the Club they love. Fans will have access to fantastic competitions and VIP experiences and be able to vote on Club initiatives.

Manchester City Blog Announcement

The Manchester City Fan Token is available to purchase via the Socios.com app. Registered Cityzens will receive an offer to claim their free token through a voucher code in due course.

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Blockchain Crypto Art NFTs

Creator of $500k NFT Mars House Believes Augmented Reality Is Just Around The Corner

NFTs are all the rage now. And although most NFT artworks are simply a rather non-immersive picture or video, the Mars House isn’t. This piece of virtual real estate is “comprised entirely of light”, and “the visual effects of her crypto-home are meant to omit a Zen, healing atmosphere”. It’s also accompanied by a musical score provided by The Smashing Pumpkins – so it’s also yet another musical NFT project.

Digital Real Estate

The Mars House – which recently sold for $500k – was created by artist Krista Kim, a contemporary artist and the creator of the art movement known as Techism. True to the tenets of her vision in which the real world and cyberspace are slowly fusing together, the Mars House can be ported into  a metaverse (virtual world) of the buyers’ choice.

Kim doesn’t see this as a one-off experience though – in fact, she predicts that in the not-so-distant future, we may be living in Augmented Reality.

“Right now, a lot of the [NFT] art that’s currently available on platforms, it’s a very limited parameter of how you can present the art. It’s presented, basically, as a digital file, a beautiful drawing or video on your screen, but my intention was to look beyond that. For me, I actually foresee that we will be living in an augmented reality lifestyle within a very short period.”

Kim commented that her artwork is the beginning of the next generation of NFT art – and that in the future we should expect to see digital customization to people the same way we currently see tattoos.

In fact, this digital customization has already started, with fashion accessories that you can customize by coding them – and coupled with events such as Crypto Fashion Week, the design choices of people both in reality and in virtual environments may be closer than ever to fusing together.