One Billion Dollars, Reese Witherspoon’s New Addiction, and a New NFT Marketplace
There are more good predictions for Bitcoin at the end of the year.
Some analysts have used made a prediction based on stock-to-flow models.
Stock-to-flow measures the current circulating supply of an asset against the flow of new products to forecast price moves.
Their model suggests that Bitcoin could see all-time highs in November, with the potential of it continuing to rise even through to February.
They believe by December it could hit 70,000.
I’ve been reading a lot of predictions that it’s going to go up lately – with very few people expecting a drop. But then again, that might just be confirmation bias on my part.
One of the most important things for cryptocurrency is going to be adopted if we really want to see prices soar. We’ve been seeing more and more financial institutes finally getting behind crypto and we have another big one to add to the list.
Stripe, a large financial services company is hiring on a crypto team. They’re currently looking for four engineers who will help lay the foundation for their crypto strategy as they plan to start web3 payments.
The easier it is for individuals to pay businesses using crypto, the more it will be considered a real currency.
Right now a lot of people still consider it more of a commodity.
We’re going to see more of a boost in adoption, as Binance has come out and said they are going to be spending 1 billion dollars to fund the adoption of Binance and blockchain as a whole.
They said it’s “the biggest funding program of its kind in the whole cryptocurrency industry.”
Binance will be dividing its fund into four different categories.
They will use $100 million for talent development,
$100 million for the liquidity incentive program,
$300 million for the builder program,
and $500 million for the investment & incubation program.
They also said, “The program is designed to boost the growth and innovation of projects and bolster the wider community and create a crypto-native pool of talent that will pave the future of crypto.”
It’s important to note that Binance only launch a year ago and it already created a huge success – and hasn’t shied away from spending its profits to help the industry.
They’ve put seed investments into 40 different projects with up to a million dollars each.
They’ve also incubated another 60 projects in their Most Valuable Builder Accelerator program.
Jay-Z is also pushing the space forward as his Venture Capital firm invested in a tech firm that focuses on the metaverse and building blockchain-based products: Spatial LABS.
sLABS as they like to be knowns, sLABS will launch its first product, “LNQ,” a blockchain-enabled hardware platform that helps onboard young creators to the metaverse
This isn’t Jay-Z’s first investment into blockchains. In May he invested in the $19 million Series A round for Bitski, a self-described “Shopify for NFTs,” or non-fungible tokens.
I guess this is a good time to make the switch to discussing the NFT world.
It seems like there’s no end to the number of celebrities getting involved with NFTs.
Reese Witherspoon recently announced she bought her first NFT and is already looking forward to the addiction. She asked the Twitter world to give her some advice.
And who responded? None other than the collector and NFT advocate Snoop Dogg.
I think Snoop is going to find his way into nearly every episode at this rate. Maybe it’ll be a new segment – what’s snoop doing today in Crypto?
Anyway, he suggested that she connect with one of the most influential women in NFTs @pridesai who could connect her with the best artists and collectors.
If you don’t have enough places to buy NFTs buy now, you can add yet another marketplace to your list.
Coinbase has announced that they are going to be making a new product called Coinbase Marketplace making another place where you can mint, purchase, and show off your NFT collection.
Coinbase will start with Ethereum based NFTs and plans to adopt other blockchains later.
Of course, this comes on the heels of their competitors Gemini and FTX coming out with their marketplaces.
We’re going to end up with an NFT marketplace war soon and it’ll be interesting to see who wins, and what new features and technology will come out of the competition.
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Resources:
Stripe is creating a crypto-focused engineering team to ‘build the future of Web3 payments’
Binance Launches $1 Billion Fund to Boost Adoption of Its Smart Chain and Entire Blockchain Industry
Bitcoin could hit $70,000 in December, based on this valuation model, some analysts say
Reese Witherspoon Gets Into Ethereum NFTs, Snoop Dogg Gives Advice
Jay-Z’s VC Firm Makes Investment to Help Create the Metaverse
