NFT Weekly Roundup: Polygon’s Sustainable Minting, Oscars NFTs, And, Yes, Poop Emoji NFTs

NFT Weekly Roundup: Polygon’s Sustainable Minting, Oscars NFTs, And, Yes, Poop Emoji NFTs

As another busy week comes to an end, the NFT universe witnessed many new developments. From Polygon teaming up with leading brands to unique new collectibles up for grabs – here are the top NFT news bytes of the week.

Polygon to Offer A Sustainable Way of Minting NFTs

NFT creation platform Cent will integrate Polygon with its Valuables platform to offer sustainable minting solutions. The company is already using Polygon’s blockchain solutions to mint NFTs while lowering the environmental impact by 99%.

As of now, NFT transactions are processed via a Proof-of-Work (PoW) consensus mechanism, requiring the consumption of enormous computational resources to mine each transaction. However, Polygon changes this by utilizing plasma with its Proof-of-Stake (POS) sidechain called Matic POS, powering much higher speed and lower cost transactions.

Nomine(eth) Launches NFT For 2021 Oscar Nominees

NFT Weekly Roundup: Polygon's Sustainable Minting, Oscars NFTs, And, Yes, Poop Emoji NFTs

Hollywood’s biggest award show, the 2021 Oscars, is just around the corner. To celebrate the milestone, Nomine(eth) has partnered with prominent artists such as Jack Butcher, Daniel Popper, Osinachi, Lirona, and Celebrity Chef, Rocco DiSpirito to drop exclusive NFTs for all 5 top awards categories.

Scheduled to be auctioned on Rarible, the drop also includes a unique tribute piece in honor of Chadwick Boseman. All proceeds from the tribute piece will be donated to the Colon Cancer Foundation. Additionally, each of the nominee’s names will be signed into the description of the NFT when minting, permanently recording their achievement in the 93rd Academy Awards.

Blockchain Investment Firm Hashed Invests in NFTbank.ai

Hashed, a leading blockchain-focused venture capital fund, has led the seed funding round of Contxts.io, the organization behind NFT portfolio management platform NFTbank.ai. Alongside other top VC firms, namely, Digital Currency Group and 1kx, Hashed’s investment pushed the total funding cap to $1.4 million.

NFTBbank.ai is integrated with numerous leading NFT marketplaces in the blockchain segment, providing in-depth tools for asset management. The platform also supports NFTs on the Ethereum and Polygon networks, allowing users access to numerous NFTs at once.

Cryptopoops Launches The World’s “Shittiest” NFTs

Most of the OG memes have already found their way into the NFT ecosystem. In keeping with the trend, Cryptopoops has officially launched the “poop emoji” NFTs in all shapes and sizes. Each Cryptopoop is unique and meticulously crafted from over 50 properties and millions of combinations.

A total of 6,006 Cryptopoops can be programmatically generated. An Ethereum smart contract assigns unique traits and a backstory for each Cryptopoop when it is minted on the blockchain. Traits will be stored in the ERC721 token itself, and owners will also receive a 1080p image stored on IPFS and be pinned to ensure extended durability.

With sustainable minting, Hollywood embrace and investment from a leading blockchain VC, are NFT finally gone mainstream? Let us know what you think in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, CryptoPoops, Nomine(eth)

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Bitcoin tumbles 10% in 12 hours to trade below $50,000

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Expert panel divided over best way to achieve diversity in crypto sector

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If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Leading Yield Farming Ecosystem DYP Now on Binance Smart Chain

DeFi Yield Protocol (DYP), a leading crypto yield farming ecosystem offering an innovative yet secure way for the crypto community to earn returns just grew bigger. The platform handling over $45 million in crypto assets has recently integrated Binance Smart Chain (BSC) to its staking and governance infrastructure. By doing so, it has enabled enhanced liquidity for the community while opening doors to further innovation in the space.

With Binance Smart Chain integration, DYP users are now able to diversify their investments by providing liquidity to PancakeSwap as well as Uniswap pools and receive rewards in ETH, DYP and BNB denominations. The new PancakeSwap pools introduced following the latest development includes DYP/BNB, DYP/ETH and DYP/BUSD. The bridge between ETH and BSC blockchains makes DYP available on both ledgers and can be swapped for BNB at any time.

A Platform That Encourages Yield Farming

Yield Farming is an important feature of the DeFi ecosystem as it enables users to provide liquidity and earn rewards in exchange. However, the staking process on most of the platforms isn’t really that user-friendly, making it hard for those who aren’t expert crypto users to benefit from it.

DYP is presenting a solution by providing one of the most user-friendly and secure yield farming protocols in the present-day crypto market. On DYP, anyone can provide liquidity and earn rewards in ETH or BNB. With potential yields of up to 442.63% APY, the DYP ecosystem has so far paid close to $16.5 million in ETH and BNB rewards to its community.

Apart from the easy-to-use intuitive interface, the platform incorporates automated vaults and a unique Anti-Manipulation Feature that prevents the whale advantage. The Anti-Manipulation feature automatically converts DYP farming rewards to ETH or BNB every 24-hours to prevent large token holders from dumping the platform’s native token. The conversion is carried out in such a way that the price drop is restricted to -2.5%.

With Binance Smart Chain integration, the DYP ecosystem has signaled its intention to eventually become a blockchain agnostic yield farming protocol. With sustained momentum, the platform could achieve it sooner than expected.

Start Yield Farming on DYP

DYP has recently released a detailed tutorial to onboard both new and existing users to yield farming on BSC. Users can follow the instructions to stake their BNB and DYP tokens on PancakeSwap with 3-, 30-, 60- or 90-day lock-in periods.

Meanwhile, DeFi Yield Protocol allows users to swap DYP tokens from Ethereum Network to Binance Smart Chain Network using DYP Bridge dApp. Instructions for which are available here.

DYP has few more announcements in store for the near future which will include the DYP Earn Vault that is currently awaiting a security audit report, DYP Tools, under development DYP NFT dApp V1.0 and a brand-new UI design.

 

TimeCoin (TMCN) Offers New DeFi and NFT Opportunities for Content Creators and Fans

TimeCoin (TMCN) Offers New DeFi and NFT Opportunities for Content Creators and Fans

TimeCoinProtocol is a decentralized sharing economy platform for dApp developers to easily create and operate new services. It has a successful eSports dApp and the company will soon launch NFT marketplace and DeFi functionalities that offer amazing opportunities for content creators and fans.

TimeCoin Raises Funds for DeFi and NFT Developments

TimeCoin (TMCN) launched a Special Token Sale on February 15th, 2021. The project was initially financed by a few investors who invested around $4 million, now the tokens will be sold on the OTC market for the first time. The sale serves specifically to raise funds for the development and enhancement of the project, and in particular for the eSportStars dApp.

The Alpha version of eSportStars was released in October, 2020, and have already acquired 10,000 users. It is available in Japanese, English, Chinese, Hindi and Portuguese, and the developers plan to expand support for more than 30 languages. The project requires further development, as well as the implementation of DeFi and NFT functionalities in the TimeCoinProtocol and other dApps, and new funds to support development and marketing costs.

TimeCoin (TMCN) Offers New DeFi and NFT Opportunities to Content Creators and Fans
TimeCoin is planning to create an NFT marketplace where VTubers and other creators can trade NFT items.

TimeCoin CEO, Masato Kakamu, explained in a recent AMA: “We want to create a place where professional players, creators, and fans can easily earn money which also helps them to better engage with their fans. To extend the eSportStars service, we want to offer esports gambling as well. We offer eSports mining for eSportStars participants to earn TimeCoin. The more TimeCoin participants own, the better service they can get.”

TimeCoin can offer an innovative DeFi system which is called Creator Sponsor Staking (CSS) along with the NFT marketplace. Fans can increase their TimeCoin holding by 12% after 6 months of staking and 24% after 12 months of staking. The increased portion will be split 50/50 between the fans and the creators. In return for sponsoring, creators will provide memberships with exclusive services, NFT digital items, services and discount coupons.

TimeCoin (TMCN) Offers New DeFi and NFT Opportunities to Content Creators and Fans

To finance these developments, the decision has been made to launch two special, off-market token sales. The first sale will run until April 30th, 2021, and the second one will be launched on May 1st, 2021 and will last until May 31st, 2021.

To learn more about the project visit the website and follow developments on Telegram.


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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

TA: Ethereum Trims Gains, Here’s What Could Trigger A Fresh Rally

Ethereum traded to a new all-time high at $2,646 before correcting lower against the US Dollar. ETH price is now trading below $2,300, but it is likely to remain well bid above $2,000.

  • Ethereum rallied to a new all-time high near $2,646 before correcting lower.
  • The price is now trading well below $2,300 and the 100 hourly simple moving average.
  • There was a break below a major bullish trend line with support near $2,400 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is showing bearish signs and it could even retest $2,050 or $2,000.

Ethereum Price Corrects Lower

Ethereum remained in a strong uptrend above the $2,400 and $2,500 levels. ETH even broke the $2,600 level and traded to a new all-time high near $2,646.

Recently, there was a sharp decline in bitcoin, resulting in a bearish reaction in ether below $2,500. The price broke many supports near $2,450 and $2,400. There was also a break below a major bullish trend line with support near $2,400 on the hourly chart of ETH/USD.

The pair broke the 61.8% Fib retracement level of the key upward move from the $2,051 swing low to $2,646 high. It is now trading well below $2,300 and the 100 hourly simple moving average.

Ethereum Price

Source: ETHUSD on TradingView.com

Ether tested the 76.4% Fib retracement level of the key upward move from the $2,051 swing low to $2,646 high. It is now recovering higher, but there are chances of more losses below $2,200. If the bears remain in action, the price could test the main uptrend support a $2,000, where the bulls are likely to appear.

Fresh Increase in ETH?

If Ethereum remains stable above $2,050 and $2,000, it is likely to start a fresh increase. An initial resistance on the upside is near the $2,280 and $2,300 levels.

The main resistance is near the $2,350 level and the 100 hourly simple moving average. A successful close above the $2,350 level and the 100 hourly simple moving average could start a fresh increase. In the stated case, ether price is likely to climb above the $2,400 and $2,450 levels.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is now gaining momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now well below the 30 level.

Major Support Level – $2,050

Major Resistance Level – $2,350

Report: Banking Giant Natwest to Refuse Service to Businesses That Accept Cryptocurrencies

Report: Banking Giant Natwest to Refuse Service to Businesses That Accept Cryptocurrencies

The major retail and commercial financial institution National Westminster Bank (Natwest) has categorized cryptocurrencies as “high risk” and refuses to serve business customers who accept digital assets for payments. A Natwest board member, Morten Friis, explains the bank has no appetite for dealing with these types of customers as Natwest is taking a “cautious approach” toward this technology.

Natwest Will Refuse to Do Business With Companies That Accept Cryptocurrencies

Reports show that the popular UK-based financial incumbent and wealth manager Natwest is refusing to serve business customers who accept cryptocurrencies. The same bank established in 1968 from a merger between Westminster Bank and National Provincial that suffered from intense scrutiny after being involved in the stock market crash of 1987.

The report written by theguardian.com’s banking correspondent Kalyeena Makortoff explains that Morten Friis, a Natwest board member and head of the bank’s risk committee is taking an adverse approach toward crypto-assets. Friis notes that the bank has no cravings for dealing with crypto customers and digital assets are “high risk” from Natwest’s perspective.

“We have no appetite for dealing with customers, whether taking them on as new clients or having an ongoing relationship with people, whose main business is backed by an exchange for cryptocurrencies, or otherwise transacting in cryptocurrencies as their main activity,” the bank’s risk manager stressed during a shareholders meeting on April 21.

Friis further asserted:

We think of cryptocurrencies as high risk and we’re taking, for that reason, a cautious approach to this. It’s an area where regulation is very much in evolution and we’ll obviously respond to that as things change.

A Few Banks Are Taking a Stand-off Approach Toward Crypto-Assets

Natwest’s current opinion echoes the same warning the UK’s Financial Conduct Authority (FCA) issued in March. The FCA warned that “younger investors are taking on big financial risks.” Moreover, the financial incumbent HSBC has been taking a stand-off approach toward crypto assets as well. Essentially, HSBC has chosen to bar investors from buying into stocks from firms that hold bitcoin. Reports this week also indicate that HSBC is even taking issues with Coinbase shares (COIN).

The bank Natwest has not been without controversy, even beyond the market rout on ‘Black Monday’ back in 1987. Ten years later in 1997, the corporate and investment banking arm Natwest Markets disclosed that the banking group had lost £50 million. Further research proved the loss was upwards of £90.5 million and because of these further investigations, faith in Natwest declined rapidly. However, the Bank of England (BoE) stepped in and curbed the resignation of top Natwest officials.

In 2016, Bitcoin.com News reported that Natwest was one of the first UK high street banks to introduce the charging of negative interest rates against its customers. Reports at that time noted that only business customers would feel the new policy, but the announcement shook markets and caused faith to drop as well.

Many crypto-asset supporters would say that Natwest is a shining example of why bitcoin and the myriad of digital assets exist. From the controversies in 1987, 1997, 2016, even today, the bank has witnessed a declining trust from the public. More recently, the Financial Conduct Authority (FCA) invoked criminal proceedings against Natwest for allegedly failing to comply with money laundering rules.

What do you think about Natwest explaining that the bank refuses to do business with businesses that accept crypto assets? Let us know what you think about this subject in the comments section below.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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