Yalla Crypto #11 - Gary Vee NFT & VeeCon + Top Blockchains for Launching Tokens

Global Headlines

Last week was all about a significant downturn that hit the entire crypto market in an instant. However, as every cycle has its ups and downs, this drop is a calculated part of the bigger picture, and is not as negative as many would think. In fact, some assets have already started what seems to be a reversal from the lows, which creates exciting opportunities for all investors.

General crypto market performance

The market is down from last week’s values, having lost around 20% of its overall valuation. With crypto assets such a drop is not unparalleled, we’ve seen numerous recoveries after even greater dips in the past. Bitcoin (BTC) is trading around the $23,000 level, with many expecting it to be the support line bullish investors can get a hold of. If BTC fails to stop at $23,000, we could see the price decreasing more towards the $20,000 level.

Ethereum's Ropsten Proof-Of-Stake "Test Merge" Goes Live

Ethereum (ETH) just took a big step towards fully implementing Proof-of-Stake (PoS) as its consensus mechanism with Ropsten’s successful launch. The highly anticipated upgrade nears going live, which will mean ETH will stop using the costly and energy-intensive Proof-of-Work (PoW) to secure its network.

Do Kwon Accused To Have Siphoned $80M Per Month With Luna

Terra (LUNA) founder Do Kwon has been accused of draining around $80M off of Luna during its peak times. As a consequence, he has been summoned by the South Korean prosecution and, if proper grounds are found for the allegations, will face trial on the matter.

New York Will Require Stablecoins To Be Backed By Assets

The New York State Department of Financial Services (NYDFS) have issued a bill proposal that includes all stablecoins to be backed by conventional assets, such as fiat currencies, or other cash equivalents. These funds will also need to be separated from the issuer's operational funds, and solely be reserved for the valuation peg.

New Bill To Force U.S. Congress To Disclose Crypto Holdings

A new bill is set to make every congress member to publicly disclose crypto holdings. If it passes, the world will be able to have a glimpse at representatives’ crypto assets.

UFC And VeChain Announce $100M Partnership

UFC and VeChain made a significant, 5 year deal that will see VeChain securing all of UFC’s related digital and physical assets, it becoming UFC’s go-to blockchain solution provider, and it being included in numerous promotional content surrounding the globally watched fights.

MENA Highlights

New UAE regulation imposes fines and jail terms for people dealing in unlicensed crypto payments or virtual currencies

A video published by the UAE Public Prosecution has announced imposing penalties consisting of imprisonment and a fine of up to AED 500,000, or one of two for dealing with virtual currencies that are not officially recognized in the UAE, or for dealing in unlicensed digital payments.

Saudi Arabia releases its first NFT digital souvenirs

Saudi Arabia’s Ministry of Tourism and the Saudi Tourism Authority has released its first NFT digital souvenirs which was presented to the delegation of the 116th session of the Executive Council of the UNWTO. This comes as part of the Kingdom’s tourism strategy to accelerate the sector’s growth pace.

Bin Zayed Group partners with Caduceus to build a Twin City Metaverse Experience.?

The Twin City metaverse experience will use VR technology to bring the city of Dubai into people’s homes, offering up all the city’s delights from its renowned shopping malls to its theme parks, and theater shows to the many famous cultural attractions it hosts.

Dubai-Based “Five Hotels and Resorts” To Accept Bitcoin And Ethereum Payments?

FIVE Hotels And Resorts, a major hospitality establishment based in Dubai is planning to branch out in the Swiss capital and start accepting crypto payments for bookings and services.

Dubai burger joint Pickl steps into the Metaverse

Pickl, Dubai’s award-winning burger joint has announced opening a virtual restaurant in the metaverse. The burger joint released several images to provide a glimpse of what the restaurant would look like in the metaverse.?

UAE School Provides Blockchain Enabled School Passport for Students

The Repton Family of Schools in the UAE has partnered with EduChain Inc., the Canadian based EdTech innovators, to create the region’s first K-12 blockchain-secured multimedia digital portfolio,?Repton Passport. The Repton Passport will allow students and alumni from the three Repton schools in the UAE to safely receive, manage and share their academic and extracurricular accomplishments via unique links, multiple platforms and social media.

Weekly Market Performance

Top Reads

What To Do When Crypto Prices Are Dropping In 2022

The first question many ask is why are crypto prices down in the first place. To answer that, we have to zoom out a bit and take a look at the entire global economy, not just the crypto market. Some aspects behind Bitcoin’s price drop could include record-high...continue reading ?

VeeFriends NFTs: Crypto Keys to Global Networking

The NFT space is full of exciting projects and collections that often connect to known faces of the tech and business scene. VeeFriends is no exception—in fact, it is among the hottest NFT collections launched by entrepreneur/influencer tycoon Gary “Vee” Vaynerchuk....continue reading ?

Top Blockchains That Allow Token Launching In 2022

New crypto token minting is one of the most powerful and popular features within the industry, but why is it important to know which blockchains support such activity? The answer lies in the liquidity and exposure these launches bring to blockchains and...continue reading ?

Cryptos to Follow This Week: LINK, GALA, & More

It can often be challenging to double down on a few crypto tokens out of the thousands available, so we figured a little guidance could come in handy. In this article, which is the second installment of a series of pieces, we’ll try to bring three to four tokens...continue reading ?

Spotlight Topic

Gary Vee and NFTs: What Happened at VeeCon?

The world of NFTs (Non-Fungible Tokens) attracted millions of individuals worldwide, including world-famous celebrities and business persons. Gary “Vee” Vaynerchuk was among the few who actually took an active part in spreading the word and launched an NFT collection or got involved in the crypto world in some way...continue reading ?

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