Shiba Inu, Crypto Billionaires, and Legends of Hip Hop
Yesterday we discussed Shiba Inu’s big jump – and its bull run has continued throughout the night.
During my last recording, I mentioned Shiba was up to the 26th largest coin, based on market cap. It did drop momentarily – but is now up to the 20th largest.
Could it hit the top 10? Well, it would need to grow about 230% to knock PolkaDot out of its 10th spot.
One of the causes for renewed interest in Shiba has been Elon Musk posting a photo of his Shiba pup, which investors believe signals his support.
Shiba Inu has also been joining more and more platforms like Coinbase. It’s been said that Robinhood is locked and ready to bring on the coin, as well as other altcoins. It’s speculated there will be an announcement this week.
No matter how you feel about Robinhood, and what it’s done in the past with stocks like Gamestop – it’s a platform with a lot of users. When we saw it adopt Doge, that coin spiked creating a lot of wealthy people.
The more places you can buy the coins, the better.
Another reason Robinhood has received a lot of criticism in the space is that it doesn’t have a way to send money using a wallet.
As it turned out, that’s expected to change as well. Robinhood has started allowing people to sign up for a waiting list to get a crypto wallet. It’s about to start a testing phase, but I imagine it will roll out shortly after testing.
I did sign up for the waiting list, but I’m over 100k down the line. When it opens up, I’ll let you know how it goes.
Circling back to wealthy people made from crypto – the Forbes 400 Richest people list this month included six new crypto billionaires – bringing the total up to 7.
Before it was only the Ripple co-founder on the list, Chris Larsen.
I apologize now for any mispronounced names.
The newcomers to the Forbes list are Sam Bankman-Fried – who is the richest billionaire in crypto – and is currently the CEO of FTX CRypto Exchange.
He’s joined by. Coinbase founders Brian Armstrong and Fred Ehrsam.
Cameron Winklevoss and Tyler Winklevoss, twin co-founders of cryptocurrency exchange, Gemini.
And Jed McCaleb, an early pioneer in the blockchain space. He was also co-founder and CEO of Ripple.
Global adoption of crypto has taken an important step in the right direction. The Principles for Financial Market Infrastructures and International Organization of Securities Commissions released a consultative report on applying the international payments standards to stablecoins.
These groups were responsible for putting together international standards for payment systems after the 2008 global financial crisis – which exposed what can happen when innovation is not regulated.
Their proposed guidance will help with the international adoption of stablecoins, which can again give legitimacy to all coins and tokens.
This report can also help people who want to make new stablecoins ensure that their work will be adopted by international standards of financial institutions.
Now, if you are someone like me and looking for the next crypto to sit on – Forbes released an article on an interesting token that’s been exploding. OMG.
OMG is built on the Ethereum network, and has increased 150% since September.
The OMG Network aims to create interoperability between different asset classes such as fiat and cryptocurrency.
Another altcoin-making News is called Nano. It’s being touted as an eco-friendly. Nano takes a new approach to the way blockchains are made.
Right now, chains like Bitcoin are built on a massive chain with different computers all agreeing on the same blocks.
With Nano, each account created has its own blockchains it works on – called account chains. When a computer finished its chain, other computers on the network check it – and update their records.
The benefit of Nano is that it has low transaction fees because it discourages mining for profit – which is the reason for bitcoin’s high energy use that’s highly criticized.
Of course, before you invest in any token or coin you should look into the technology and make sure you believe in it.
Now it’s time to move over to the World of NFTs.
Russel Simmons, co-founder of Def Jam and a pioneer in the hip hop world is releasing a series of NFTs with Snoop Dogg. This collection features legends of the hip-hop world.
When discussing why he created this series, Simmons was quoted saying “respect for the founding fathers of hip hop needs a reboot.”
He claims the NFTs are museum quality and expects them to go up in value.
The collection goes on sale on October 10th on the Tokau marketplace.
Artist Damien Hirst is expected to showcase over 10,000
His exhibition will be part of this year’s Frieze London art fair.
He’s secured a partnership with LG and will be presenting his work on OLED LG TVs. The exhibition is rightfully called LG x Damien Hirst: A History of Painting.
If you love games and are interested in NFTs but are confused about where to start, there may be a fun way to enter the market. There’s a trend we mentioned yesterday of play-to-earn games popping up.
Well, Sky Mavie just raised $152 million at a nearly $3 billion valuation to help grow its Axie Infinity.
Axie Infinity has hit No. 1 in NFT collectibles, even though it’s not available on the iOS or Android app stores. You can find it on PCs, Mac, and it can be played on mobile devices.
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Resources:
7 Crypto Billionaires On The Forbes List
Global Standards for Stablecoins
Russell Simmons Says His NFT Collection with Snoop Dogg Is About ‘Respect’
Damien Hirst to Showcase 10,000 NFTs in Innovative Exhibition
Sky Mavis raises $152M at nearly $3B valuation for Axie Infinity play-to-earn NFT game
