While crypto markets shed billions during the last seven days, non-fungible token asset sales are still up 81% since last week. Statistics indicate $4.7 billion in NFT sales were settled in seven days among 326,733 buyers, and Ethereum saw a continued rise in NFT sales volume. NFT Sales Remain Strong Despite Crypto Market Price Reversal Bitcoin, ethereum, and a myriad…
Miners can burn virtual currency tokens using the proof-of-burn (PoB) consensus mechanism. Proof-of-burn is one of several consensus mechanisms blockchain networks use to verify that all participating nodes agree on the blockchain network’s genuine and legitimate state. A consensus mechanism is a collection of protocols that use several validators to agree on the validity of a transaction. PoB is a…
This week in coins. Illustration by Mitchell Preffer for Decrypt. Global crypto markets fell 8.5% overnight. That’s right: in 24 hours, the total market capitalization of cryptocurrencies across the globe plunged down to $1.63 trillion. To put that into perspective: At this time yesterday morning, the total market cap of crypto was still above $2 trillion. Today’s wipeout is indicative…
Big news for the NFT crowd: you can now make your NFT your Twitter profile picture. Well, yes, you could have done that before, but now you can verify through blockchain that you own it, and Twitter will reward you with a hexagon around it. And it’s only for Twitter Blue subscribers, only on iPhones, and only in the U.S.,…
The price of bitcoin tapped a new low this year hitting $34K per unit at just after 5 a.m. (EST) on Saturday morning. Bitcoin is now down over 48% lower than its all-time high (ATH) reached two months ago on November 10, 2021 — when it jumped above the $69K mark. During the last week alone, bitcoin has lost 17%…
Though the likes of Bored Apes and Pudgy Penguins take the headlines, and the potential for decentralized finance (DeFi) and play-to-earn gaming is undeniably grand and exciting, the marketing potential for nonfungible tokens (NFTs) deserves equal attention. It boils down to this: With NFTs, virtually anything can be gamified to promote desired marketing outcomes. Gamification — defined by Gabe Zichermann,…
sponsored 2022 is ramping up to a buzzing year for the metaverse. Upcoming projects like Next Earth aim to usher in a new era of user-governed virtual worlds. Next Earth is a metaverse that uses blockchain technology to manage virtual land NFTs on a 1:1 replica with Earth. This allows users to buy, sell, and trade virtual land as they…
At Decrypt, we believe in experimenting with the technology we write about. And for the last year or so, I’ve been writing a lot about the film industry’s growing interest in crypto, from its first tentative flirtations with blockchain to full-fledged DAOs aiming to shake up the way films are funded. Making a film—even a short one—is an expensive business.…
Banks in Russia are preparing to dive into the pilot phase of the digital ruble project and some are already testing transactions with the currency. Trials have started with customer-to-customer (C2C) payments and Bank of Russia plans to expand the types of operations in the future. Digital Ruble Pilot Launches With 12 Participating Banks The Central Bank of Russia (CBR)…
Bitcoin (BTC) refused to stem recent losses during Jan. 22 as predictions of a flight to $33,000 and lower looked increasingly likely to become a reality. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView. Open interest “still not flushed” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it fell through $35,000 during the first half of Saturday. With few silver…
