Friday, May 27, 2022
Outlook.com

Facebook Parent Meta To Dive Into NFTs; Ethereum, Shiba Inu Rise

Facebook owner Meta may soon dive into the world of NFT to capitalise on the digital collectible craze. Meanwhile, the prices of Ethereum and Shiba Inu rose in the last 24 hours.

Facebook Parent Meta To Dive Into NFTs; Ethereum, Shiba Inu Rise
cryptocurrency

Facebook Parent Meta may soon allow its users to create and sell non-fungible tokens (NFT) as it is trying capitalise on the digital collectible craze, reported Financial Times. Teams at Facebook and Instagram are designing features that will let users to display their NFTs on their social media profiles, and also help them create the collectible tokens.

In the meantime, the price of Bitcoin was down by 0.41 per cent and was trading at $42,084.95 at 5:00 pm, while its dominance in the crypto market is currently at 40.13 per cent, down by 0.10 per cent in the last 24 hours.

Ethereum (ETH) was trading at $3,144.10, with a rise of 0.96 per cent in the last 24 hours, while Binance Coin (BNB) was up by 0.32 per cent over the same period and was trading at $463.80. Solana (SOL) up by 1.30 per cent to $137.56 and Cardano (ADA) was down by 4.77 per cent to $1.35.

Meme Coins

All major meme coins such as Dogecoin (DOGE), Shiba Inu (SHIB), Dogelon Mars (ELON), and Samoyedcoin (SAMO) have shown a minimal change in the last 24 hours.

Dogecoin was up by 0.91 per cent while trading at $0.1648 at 5:00 pm. Rival Shiba Inu was up by 0.99 per cent and was trading at $0.00002789, Dogelon Mars fell by 042.61 per cent and was trading at $0.000001202, while Samoyedcoin was trading at $0.01838 and recorded a rise of 1.67 per cent.

Overall Scenario

The global crypto market cap was $1.99 trillion, registering an increase of 0.62 per cent in the last 24 hours, while the total crypto market volume was $49.91 billion, down by 39.39 per cent.

NinjaFloki (NJF) became the biggest gainer, recording a rise of 714.17 per cent; it was trading at $0.000009534 at 5:00 pm. On the other hand, En-Tan-Mo (ETM) witnessed maximum loss, falling 88.76 per cent; it was trading at $0.001957.

Latest Update

Viacom18’s Youth, Music and English Entertainment (YME) cluster will soon step into the digital space of NFTs with the announcement of the NFT marketplace Fullyfaltoonft.com. The marketplace will go live on February 14, 2022, and offer digital art conceptualized and created by the team that brings to life brands such as MTV, Vh1 and Comedy Central in India, according to press statement.

“The global media and entertainment industry has recognised the power of NFTs. As one of the world’s largest media markets, India is uniquely positioned to be at the focal point of this ‘Web3 revolution," said Anshul Ailawadi, Head, Youth, Music and English Entertainment, Viacom18.

Moreover, Russia’s central bank on Thursday proposed banning the use and mining of cryptocurrencies in Russian territory, citing threats to financial stability, citizens’ wellbeing and its monetary policy sovereignty, according to various media reports.

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