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<ul class="summary-list"><li>Trump's digital trading card NFTs soared in value to nearly $1,700 USD following his indictment.</li><li>Trump became the first former president to face criminal charges when a Manhattan grand jury voted to indict.</li></ul>Donald Trump's digital trading card NFTs have spiked in value, with the highest sale at nearly $1,700 following his indictment in the Manhattan district attorney's investigation. According to <a href="https://www.newsweek.com/donald-trump-nft-prices-soar-following-indictment-1791961" target="_blank" rel="noopener">Newsweek</a>, the floor price of Trump's NFT trading cards was 0.41 Ethereum (ETH), or about $748 USD, on March 30 when Trump was indicted. As of publication on April 1, the floor price ticked up 1.9% to $967.38, or 0.5299 ETH, according to <a href="https://nftpricefloor.com/trump-nft-digital-trading-cards" target="_blank" rel="noopener">NFT Price Floor</a>, a site that indexes and complies data on NFT trading and marketplaces. Trump's NFTs had an average sale of 0.5737 ETH, or roughly $1,000 — rising 1.45% in the last 24 hours. The highest sale soared to 0.9298 ETH, which equates to nearly $1,700 — an increase of 10.16% in the same period, according to the site. The New York <a href="https://www.businessinsider.com/trump-indicted-new-york-stormy-daniels-hush-money-payment-2023-3" target="_blank" rel="noopener">grand jury voted to indict Trump</a> on Thursday after <a href="https://www.businessinsider.com/inside-trump-grand-jury-room-70s-era-furniture-indictment-2023-3">weeks of hearing evidence</a> in the investigation of <a href="https://www.businessinsider.com/who-is-stormy-daniels-porn-star-affair-donald-trump-2018-1" target="_blank" rel="noopener">hush money paid to adult film actress Stormy Daniels</a> before the 2016 election. The historic indictment made Trump the first former US president to be charged with a crime, though he has long called the investigation a political witch hunt by Manhattan DA Alvin Bragg. Trump faces over 30 charges in the indictment, according to a <a href="https://edition.cnn.com/politics/live-news/trump-indictment-hush-money-stormy-daniels/h_9ba863b633ff6ad45f4703e86cc10026" target="_blank" rel="noopener">CNN</a> report. Trump's campaign on Friday also said it had raised more than $4 million within 24 hours following news of the indictment. The campaign said that over 25% came from first-time donors and that the average contribution was $34, signaling "that the American people see the indictment of President Trump as a disgraceful weaponization of our justice system by a Soros-funded prosecutor." Officials from the DA's office wanted Trump, who is due in court by April 4, to <a href="https://www.businessinsider.com/doanld-trump-indictment-friday-surrender-secret-service-needed-time-2023-3">surrender on Friday</a>, but his lawyers argued that <a href="https://www.politico.com/news/2023/03/30/manhattan-da-wanted-friday-trump-arrest-00089853" target="_blank" rel="noopener">Secret Service needed additional time</a> to plan his escort. Trump attorney Joe Tacopina previously told Insider that Trump is likely to <a href="https://www.businessinsider.com/trump-plans-surrender-manhattan-indictment-tuesday-joe-tacopina-2023-3">surrender to the Manhattan DA's office on Tuesday</a>. In the days leading up to his indictment, Trump, who is seeking reelection in 2024, had been confident that an indictment would be weeks away, and Thursday's indictment took him and his staffers by surprise, according to <a href="https://www.washingtonpost.com/politics/2023/03/30/trump-indictment-ny-stormy-daniels/#link-2UXWINMOIRAAHPCG7MUQ2RVQ44" target="_blank" rel="noopener nofollow">The Washington Post</a>. The former president had been joking about "golden handcuffs" in the days prior to the indictment and seemed <a href="https://www.businessinsider.com/trump-golden-handcuffs-joke-indictment-new-york-2023-3" target="_blank" rel="noopener">"deflated" and "irritated" after the historic indictment</a> was announced. On Wednesday morning, Trump posted on Truth Social that he had <a href="https://truthsocial.com/@realDonaldTrump/posts/110106476277781338" target="_blank" rel="noopener">"SUCH RESPECT"</a> for the grand jury, which would vote to indict him about 24 hours later. Trump then changed his tune, saying he had been indicted by <a href="https://truthsocial.com/@realDonaldTrump/posts/110114627876562286" target="_blank" rel="noopener">"Thugs and Radical Left Monsters,"</a> adding that the United States has become "A NATION IN SERIOUS DECLINE."

Donald Trump's NFT trading cards jumped in value to almost $1,700 after Manhattan indictment

In a new trend that indicates the utilization of blockchain technology in the music industry, Hindi Rock giant <keyword id="19787" type="General" weightage="20" keywordseo="euphoria" source="Orion">Euphoria</keyword> is set to launch its latest album titled 'SALE', in the form of a Non-Fungible Token (<a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">NFT</a>). The band will drop the music album NFT and nine behind-the-scene photographs on the invite-only NFT project Token Runway, after which it will be auctioned before its public release. The auction commenced on September 9 and culminates on September 12, subsequent to which, the album will be released on September 14. The album 'SALE' is the 8th one by Euphoria, composed of 7 songs that will take listeners on a ride across genres, sounds, styles, emotions and life experiences. Written at various points of time in Euphoria Founder Singer-Writer Palash Sen's career, each song stands for a real-life story witnessed or felt by him and the band. The album essentially is 17 years of hard work and passion condensed into 7 soulful tracks. Talking about the music NFT drop by Euphoria, Priyank Mahajan, Co-Founder, Token Runway says, "After decades of experience in the field of entertainment and media monetization we are excited to embark on this blockchain powered journey with Token Runway. The system is built in a manner which guarantees trust amongst sellers and buyers, which lets the creators focus on their craft. We are excited to be able to work with Euphoria on our first NFT as the band being a legend has a history of many firsts, and will keep striving to bring exclusive and rare NFTs to our community." Explaining the rationale behind slipping into the NFT trend, Euphoria Founder &amp; Singer Palash Sen says, "We believe that it is important to take our music to all communities. This will widen the outreach of our work to the global blockchain community and we certainly are looking forward to it. As seasoned musicians, we think it is essential for us to be a part of this movement. We come from a time when it was impossible to release an album without a label or a rich dad. NFTs offer a whole new distribution mechanism without affecting the artist's other revenue streams." In the music space, an NFT can be stated as a piece of creative work that is stored on a <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">digital ledger</a>. Artists and musicians can create NFTs to auction off various forms of digital media to their fans. This marks the beginning of an era when artists are able to do business directly to fans and sell their NFTs like they used to with self-produced CDs. NFTs operate on a blockchain, which is a publicly accessible and transparent network -- meaning anyone can see the details of any NFT transaction. Computers involved in the transactions become part of the network, which keeps updating and can't be hacked. These NFTs or digital tokens have gone mainstream in the last year, as many international musicians sought out additional revenue streams in the digital audio distribution of the pandemic. The release of the album as an NFT by Euphoria will also be the first of many other NFTs by the band with Token Runway over the coming years as they see a massive potential for growth via this new trend. "In the long run, fans will have access to exclusive work from the musicians and will bring back the concept of ownership of music like in the case of CDs, cassettes and records. For the musicians it will provide new reasons and challenges to better their craft," said Palash. Speaking to IANSlife about the future plans, Palash says: "After the release of SALE as an NFT, we are also going to be working on creating a year long calender or a roadmap to release further content, memorabilia, Euphoria demos, and several other special things relating to the band's journey. It is definitely exciting as it helps us connect with an audience that is interested in and seeks off beat collectibles. Being an independent artist, our options are limited. But then, the sky is the limit." "We have been working on this album for over 17 years, it was not till recently we thought of doing an exclusive pre-release SALE as an NFT. It so happened that we were in the process of releasing the album when the NFT trend set in. As we had the album almost ready we decided to take the plunge with it, mainly to test waters and gauge the response from our audience. We are very happy to have collaborated with Token Runway for our very first NFT project. It has been truly euphoric to work with them." <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true"></a><a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/opensea-is-still-reeling-from-the-crypto-flash-crash-value-of-cryptopunks-slashed-in-half/articleshow/86068443.cms">The biggest NFT platform in the world is still reeling from the crypto flash crash — value of CryptoPunks slashed in half</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-crypto-start-up-plans-to-do-for-solana-what-alchemy-did-for-ethereum-with-1-5-million/articleshow/86057583.cms">INTERVIEW: Here's how SolRazr plans to do for Solana what Alchemy did for Ethereum with $1.5 million in its pocket</a>

Indian rock band Euphoria set to launch its next album as an NFT

<ul class="summary-list"><li>A <keyword id="11939873" type="UNKNOWN" weightage="60" keywordseo="cryptopunk" source="Orion">CryptoPunk</keyword> <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> worth nearly $1 million was sold at 95% below its market value.</li><li>CryptoPunk 7557 was sold for 4.444 ether, around $19,366 early Monday, data from Etherscan show. </li><li>But the listing history reveals it has been sold at much higher prices in the past.</li></ul>A CryptoPunk non-fungible token worth nearly $1 million was sold Monday at 95% below its market value in what may have been a mistaken listing.The purchase price for <a href="https://www.larvalabs.com/cryptopunks/details/7557">CryptoPunk 7557</a>, a female punk with a tiara, came in at <a href="https://etherscan.io/tx/0x8924ef9e6267450f4587ad6677d56dc29da32f51792e32e42a6c757f83d3839a">4.444 ether</a>, which was worth around $19,366 at the time, data from Etherscan show. <a href="https://www.theblockcrypto.com/linked/122884/cryptopunk-worth-850000-sells-for-just-a-fraction-of-its-price">The Block</a> was first to report the news.But the listing history reveals it has been sold at higher prices. It was last bought in July for 59.99 ether, or $135,213. And in September, the previous owner put it up for sale for 8,888 ether, or $31 million.And similar NFTs suggest a market value around $1 million. Currently, the lowest asking price for a punk with a tiara is 350 ether, or about $1.5 million, while the most recent purchase of a tiara punk went for 196.69 ether, about $843,000.Monday's transaction may have been a victim of a mistaken period or comma. Instead of 4.444, perhaps it should have been 44.44 ether, 444.4 ether, or 4,444 ether - all of which would have been substantially more expensive.In total, there are 10,000 24 x 24-pixel <keyword id="12418197" type="UNKNOWN" weightage="60" keywordseo="cryptopunks" source="Orion">CryptoPunks</keyword> with no two that are exactly alike. Other characters in the collection are composed of nine aliens, 24 apes, 88 zombies, and 6,039 males.Most recently, a CryptoPunks NFT sold for <a href="https://markets.businessinsider.com/news/currencies/cryptopunks-nft-sells-over-500-million-void-larva-labs-ethereum-2021-10">$532 million</a> in October only for crypto enthusiasts to discover that the transaction was inflated by the owner by buying and selling it himself for higher prices, according to Larva LabStill, CryptoPunks have commanded eye-watering prices. In June, one alien punk fetched <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.sothebys.com%2Fen%2Fbuy%2Fauction%2F2021%2Fnatively-digital-cryptopunk-7523%2Fcryptopunk-7523?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener">$11.8 million</a>, setting a <a href="https://markets.businessinsider.com/news/currencies/cryptopunk-nft-covid-alien-draftkings-sothebys-auction-fungible-token-2021-6?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">new world auction record</a> for a single CryptoPunk, luxury auction house Sotheby's said.In August, global payments giant Visa bought a CryptoPunk for <a href="https://www.theblockcrypto.com/post/115333/visa-buys-cryptopunk-first-steps-nft-commerce">$150,000</a> triggering another <a href="https://www.theblockcrypto.com/linked/115356/90-cryptopunks-get-snapped-up-in-one-hour-following-visas-150000-purchase">massive wave of purchases</a> with 90 of them changing hands in the space of a single hour.NFTs have <a href="https://markets.businessinsider.com/news/stocks/nfts-majority-americans-surveyed-digital-art-more-than-a-fad-2021-4-1030272455?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">soared in popularity</a><a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener"> this year</a>. The tokens are <a href="https://www.businessinsider.com/non-fungible-tokens-nfts-have-taken-over-heres-why-theyre-important-2021-4?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">digital representations</a> of artwork, sports cards, or other collectibles tied to a blockchain, typically on ethereum. Each NFT has a signature that can be verified in the public ledger and cannot be duplicated nor edited.When people buy NFTs, they gain the rights to the <a href="https://www.businessinsider.com/why-are-people-buying-nfts-investing-in-nft-crypto-art-2021-3?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">unique token</a> on the blockchain, not the artworks themselves. But the fact that the information on a blockchain is next to impossible to alter makes NFTs appealing, especially to artists.

A CryptoPunk NFT worth nearly $1 million was sold at 95% below its market value in what may have been a mistaken listing

<ul class="summary-list"><li>The cryptocurrency market shrunk more than 2% over the past 24 hours, alongside a selloff in stocks. </li><li>The bigger coins were down on Wednesday, with ether down over 3%, threatening to break $3,000.</li><li>So-called "<keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword> killers" <keyword id="5294933" type="UNKNOWN" weightage="60" keywordseo="cardano" source="Orion">cardano</keyword> and <keyword id="12150390" type="UNKNOWN" weightage="60" keywordseo="avalanche" source="Orion">avalanche</keyword> saw the previous week's gains all but wiped out.</li></ul>Cryptocurrency prices were down on Wednesday, as the overall market declined more than 2% in value, pushing the total capitalization below $2 trillion, as a wave of risk aversion swept across the investment landscape, in light of surging bond yields and rising inflation expectations.The global <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> market is now worth around $1.95 trillion, having peaked at close to $3 trillion in mid-November, according to CoinMarketCap. This dip comes after US Treasury yields hit two-year highs, which also caused <a href="https://markets.businessinsider.com/news/stocks/stock-market-today-bond-yields-treasury-oil-tech-stocks-bitcoin-2022-1">stocks to sink</a>. This has been a common theme so far in 2022, as the Federal Reserve repeatedly <a href="https://www.businessinsider.com/federal-reserve-tapering-interest-rates-inflation-fomc-december-asset-purchases-2021-12?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">signals</a> that it could hike US rates several times throughout the year. Higher rates tend to weigh on more speculative assets, as investors are more likely to put their cash into areas of the market that they perceive to be less risky.This correlation is supported by Arcane Research reports that link the S&amp;P 500 to <keyword id="11893902" type="UNKNOWN" weightage="60" keywordseo="bitcoin" source="Orion">bitcoin</keyword>. "Currently, the S&amp;P 500 seems to dictate the direction of bitcoin and the overall crypto market, evident by correlations reaching new highs. Bitcoin's 90-day correlation to the S&amp;P 500 is currently at its highest since October 2020," the company said in a note. <a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> fell more than 1% to $41,471, while <a href="https://markets.businessinsider.com/currencies/eth-usd">ethereum's ether token</a> suffered heavier losses of more than 3%, falling to $3,070 and threatening to dip below that $3,000 mark for the first time since September.<keyword id="11961769" type="UNKNOWN" weightage="60" keywordseo="altcoins" source="Orion">Altcoins</keyword> suffered more severely as cardano dropped 8% to $1.38 and avalanche dropped 5% seeing it sit at $82.31 at the time of writing.Several altcoins had logged significant gains last week as capital flooded into <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> and <keyword id="11899100" type="UNKNOWN" weightage="60" keywordseo="defi" source="Orion">DeFi</keyword> projects built on alternative smart-contract platforms to ethereum. The so-called 'ethereum killers' have made impressive gains over the past year.<a href="https://markets.businessinsider.com/news/currencies/ethereum-eth-killers-nfts-defi-solana-cardano-wax-crypto-investing-2022-1">JPMorgan reported</a> that ethereum's dominance in the NFT space had gone from 95% at the beginning of 2021 to around 80%. In particular, <a href="https://markets.businessinsider.com/currencies/ada-usd">cardano's ada token</a> had seen significant gains over the past 10 days, as it was up over 30% at one point according to data from CoinMarketCap. The altcoin founded by ethereum co-founder Charles Hoskinson is one of 4 cryptocurrencies considered by some analysts to be a major threat to ethereum as it is <a href="https://markets.businessinsider.com/news/currencies/ether-outlook-4-cryptocurrencies-considered-ethereum-killers-crypto-solana-cardano-2022-1">"more scalable."</a> However, the budding crypto is still some way off all-time highs of $3.10 from September 2021.

Crypto market slips below $2 trillion in value as sell-off wipes billions off big hitters like bitcoin and ether, as well as altcoins

<ul class="summary-list"><li>Value for <keyword id="12453019" type="General" weightage="60" keywordseo="play-to-earn" source="Orion">play-to-earn</keyword> <keyword id="2721952" type="General" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> games comes from a variety of sources, not just one thing.</li><li>A game's popularity and demand for its underlying crypto token are all part of the equation, along with transaction fees.</li><li>Such a business model relies on a constant new flow of players entering the ecosystem and adding value that can be extracted by others. </li></ul>Play-to-earn games like <a href="https://markets.businessinsider.com/news/currencies/ethereum-axie-infinity-cryptocurrencies-tokens-slp-axs-markets-2021-8">Axie Infinity</a> and <a href="https://markets.businessinsider.com/news/currencies/metaverse-real-estate-property-sales-virtual-land-sandbox-decentraland-2021-11">Decentraland</a> are blowing up across the crypto world. They seem to be revolutionizing the gaming industry with a new, <a href="https://markets.businessinsider.com/news/currencies/play-to-earn-crypto-gamefi-nft-games-axie-infinity-huobi-2021-10">highly engaging format</a> with huge appeal. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> What is the source of the money? The value across all play-to-earn games comes from the currency that players earn within the platform. But not every game has the same model, and some small names are only looking to cash in on the <a href="https://markets.businessinsider.com/news/currencies/metaverse-crypto-blockchain-battle-facebook-meta-big-tech-axie-sandbox-2021-12?utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets">metaverse craze</a>. Most games have native tokens for in-game purchases and trading between players. They derive value through the use of their tokens which users and cryptocurrency traders <a href="https://markets.businessinsider.com/news/currencies/best-performing-cryptocurrencies-metaverse-tokens-of-the-year-2021-12">deem valuable</a>, according to blockchain developer James Bachini. For instance, the model used by <keyword id="11919548" type="General" weightage="60" keywordseo="axie-infinity" source="Orion">Axie Infinity</keyword> counts on players making a chunky upfront investment in game-specific NFTs (or Axies, in this case). Gamers can then trade their in-game digital assets — earned from playing — at an appreciated price with other gamers, who continue the loop to inject value into the gaming economy. "If everyone decides to leave and exchange their Axie tokens for other digital currencies, then the token value collapses," Bachini said. "If the game continues to be successful, then demand for the token continues." The game's owners and investors have the belief that <a href="https://www.businessinsider.com/how-to-invest-in-axie-infinity-play-to-earn-gaming?r=US&amp;IR=T">people will continue playing and funneling money</a> into it. That's because digital asset ownership is gaining mainstream acceptance. Indeed, Axie's axs cryptocurrency gained an eye-watering 18,000% over the course of 2021, while <keyword id="12222085" type="General" weightage="60" keywordseo="decentraland" source="Orion">Decentraland</keyword>'s mana token rose by 4,000%, ranking the two of them among the best performers overall last year from the crypto space, all thanks to the popularity of play-to-earn games and the metaverse. Am I guaranteed to earn money through playing? No. But it depends on the amount of time you invest in the game, its popularity, and the demand for the in-game assets or underlying token. "Play-to-earn is not a magic pill that will make any game profitable for players, yet it sets a precedent and a canvas for such a value-distributing game," said Diego Di Tommaso, cofounder of open-source AR platform OVR. Is the business model sustainable? Possibly, but there are a number of problems associated with this concept because the appeal of earning money could dilute the gaming experience. One major risk is a game's ability to continue growing the economy it intends to build. The only way a play-to-earn model can be sustainable is having the game's users be of high quality, according to Adrian Kolody, founder of DeFi startup Domination Finance. Being entertained and actually having a good time while playing could be watered down by <a href="https://www.bloomberg.com/news/articles/2022-01-15/gamefi-is-a-new-crypto-craze-what-s-it-all-about-quicktake">people using bot-farmers</a> as a way to make the most of the game purely for the sake of residual income, he said. "Bot behavior also incentivizes the auto-dumping of the token rewards that you receive from these games," he said. "This leads to negative price action, and can mean certain death for some of these projects who rely on their token to do well for sufficient runway." Moreover, continuous trading of in-game assets creates the need for a constant inflow of new players to maintain the business model and develop revenue streams. How is the game itself earning anything? Easy one. Transaction fees! New players incur a fee for purchasing in-game currency, and this represents a major revenue stream for the game. The most appealing part of the game is the price appreciation of native tokens. Games with solid communities and brands have an edge over others. "Axie's sustainability will be based on how fast it can grow its player base and drive additional utility to its in-game assets," said Koh Kim, head of ecosystem at blockchain infrastructure startup Mysten Labs. "Axie has literally changed people's lives – that's their competitive advantage. No other play-to-earn game has that level of loyalty."

Play-to-earn crypto games have exploded onto the scene and are shaking up gaming business models. Here's how they work, and where the value comes from for investors.

<ul class="summary-list"><li><keyword id="11931714" type="UNKNOWN" weightage="60" keywordseo="solana" source="Orion">Solana</keyword>'s sol jumped by as much as 24% on Friday to hit $146.37, its highest level on record.</li><li>It's now the 7th biggest coin by market capitalization at $42 billion, pushing <keyword id="11955066" type="UNKNOWN" weightage="60" keywordseo="doge" source="Orion">doge</keyword> down into 8th place.</li><li>Solana has gained popularity for its DeFi capabilities, including smart contracts, and its scalability.</li></ul>Solana's sol hit an all-time high on Friday, extending a run that has seen it double in value in the space of two weeks, thanks in part to the booming popularity of <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> applications such as non-fungible tokens. Sol rallied by as much as 24% to a high of $146.37 earlier in the day and was last up around 8% at $138.83. Its market value is now around $42 billion, according to <a href="https://coinmarketcap.com/">Coinmarketcap</a>, meaning it has knocked <keyword id="11955065" type="UNKNOWN" weightage="60" keywordseo="dogecoin" source="Orion">dogecoin</keyword> at $38 billion into 8th place in terms of market capitalization.So-called alt-coins have rallied sharply in recent weeks. That's thanks in part to a series of network upgrades and to the growing capabilities of various blockchains, including solana, to house applications such as non-fungible tokens (NFTs) or decentralized finance (DeFi) projects. "The love for Solana is best attributed to the growing opportunities its <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> capabilities are ushering in," Yuri Mazur, head of data analytics at CEX.IO broker, told Insider. "To catch on the innovative NFT projects being rolled out atop the blockchain, users need to hold a certain amount of sol tokens to mint their favorite NFTs. This added use case of sol is causing an increased demand for the digital currency, and ultimately, for its price," he said.Sol's popularity centers on the Solana blockchain's DeFi capabilities, including the smart contracts that make it a rival to <keyword id="11892696" type="UNKNOWN" weightage="60" keywordseo="ethereum" source="Orion">ethereum</keyword>. It currently hosts around 400 projects on its network."Various digital currencies have their distinctive traits, and solana is not an exception. Bolstered by the scalability of its underlying blockchain network, the coin comes very handy for cheap transactions, offering a more required convenience to users," Mazur said.Sol's whitepaper was released by Solana's founder and CEO <a href="https://www.crunchbase.com/person/anatoly-yakovenko">Anatoly Yakovenko</a> in <a href="https://dyor-crypto.fandom.com/wiki/Solana_(SOL)#Basics">2017</a>. It was released on the Binance cryptocurrency exchange in April 2020, when it debuted at around $0.21."At this rate, nothing is likely to stump the growth of the coin from crossing beyond the $200 price mark in the next two weeks. With the positive sentiment the digital currency has garnered in the NFT metaverse, this new high may be attained sooner than later," Mazur said. "No doubt, Solana can compete with the top 10 and reach the top 5," Dmitry Mishunin, founder and CEO of HashEX, a smart contract audit company said. The top five <keyword id="11895317" type="UNKNOWN" weightage="60" keywordseo="cryptocurrencies" source="Orion">cryptocurrencies</keyword> by market cap are bitcoin, ether, cardano's ada, binance coin and the tether stablecoin, according to data from Coinmarketcap.

Solana's sol token rallies over 20% to record highs and overtakes dogecoin in market value, driven by the surge in new NFT projects

<ul class="summary-list"><li>eToro launched an <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> fund in Miami on Thursday, as part of an initiative to support digital arts.</li><li>The $20 million fund will buy non-fungible tokens to help artists and musicians.</li></ul>eToro announced a $20 million fund to buy, support and fund NFTs and their creators in Miami on Thursday as the bitcoin conference took over the city. "As one of the first companies to offer <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> alongside more traditional assets, it is only natural for eToro to serve as the bridge to bring new users into NFTs and the metaverse. We're incredibly excited to see the developments in this space over the coming months," Yoni Assia, co-founder and chief executive of eToro, said. This announcement comes a week after Delta, an investment portfolio tracker company which eToro purchased in 2019, added NFTs to its platform. The fund is part of a new initiative from eToro, called <a href="https://www.etoro.art/en/etoro-art">eToro.art</a>, which will support NFT creators and brands.eToro.art allows creators to fill in a form to apply to partner with the investing platform's new initiative, as it looks to discover and support digital artists. The site also showcases eToro's NFT collection, which a portion of the fund will go towards, including pieces from Bored Ape Yacht Club, CryptoPunks, World of Women and <a href="https://www.etoro.art/en/etoro-art/collection">more</a>. <a href="https://twitter.com/yoniassia?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">Assia</a> has a Bored Ape Yacht Club NFT as his profile picture on Twitter, as well as appearing to have purchased the ENS domain name YoniAssia.eth – all the hallmark signs of a crypto native in 2022.Guy Hirsch, Managing Director, Global NFTs at eToro<a href="https://www.businessinsider.com/crypto-nft-investing-tips-extreme-alpha-gains-etoro-director-2022-4"> spoke with Insider this week</a> about the potential of digital art and why it's time to consider NFTs as part of your investment strategy. Hirsch went on to tell Insider that even investors who are on the fence about investing in NFTs may end up owning basketball or football NFTs as digital collectibles, which he sees as replacing physical collectibles – NBA were one of the first sports brands to explore NFTs with <a href="https://nbatopshot.com/">NBA Top Shots</a>.Without noticing, you might just end up owning an NFT because of your affinity to a certain brand, he said."NFTs converge culture, technology, and investing. As the leading social investing platform, eToro is well positioned to lead this space, and eToro.art will bring creators and investors together through technology, uniting communities around art," Hirsch said. Part of the trading platform's goals includes improving how digital art is valued, Hirsch <a href="https://www.cnbc.com/2022/04/07/crypto-trading-platform-etoro-launches-20-million-nft-fund-as-industry-approaches-inflection-point.html">spoke</a> with CNBC about the launch and how digital art is currently being valued. "We see new services emerging that will be akin to the appraisal process of traditional art. Within a year or two we'll have third-party services that will appraise individual pieces and give you an approximate price on what you're about to buy or what you own in a way that would be agreed on by market participants," he said. According to the eToro <a href="https://www.etoro.com/about/">website,</a> the company first offered <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> trading in 2013, before adding more crypto assets to its platform in 2017. Data on eToro's website shows bitcoin now has almost 22 million followers on the platform, out of a total 27 million users, with more than 32% of those followers investing in bitcoin.Read more: <a href="https://www.businessinsider.com/stock-market-crash-recession-watch-investing-analysis-outlook-deutsche-bank-2022-4" target="_blank" rel="noopener noreferrer">Deutsche Bank predicts the S&amp;P 500 will slide by 20% next year — and shares the 4 recession drivers it's watching right now</a>

Retail investing platform eToro launches $20 million NFT fund to support artists and brands

<ul class="summary-list"><li>In an exclusive interview with Insider, the CEO of <keyword id="13139869" type="UNKNOWN" weightage="60" keywordseo="doodles" source="Orion">Doodles</keyword> broke down why its <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> could hold value through a recession. </li><li>Doodles has cleared over $500 million in sales volume, hired Pharrell Williams as an exec, and received funding from a VC firm led by Reddit's co-founder. </li></ul>Since launching last October, <a href="https://opensea.io/collection/doodles-official">Doodles</a> has erupted in popularity to become one of the top non-fungible token collections on the market. Doodles features 10,000 pastel-colored, squiggly drawings living on the ethereum blockchain, with the cheapest one trading at just under $17,000, or about 15 ETH. Newly appointed chief executive Julian Holguin — who just left his post as the <a href="https://www.businesswire.com/news/home/20220506005468/en/Doodles-NFT-Appoints-Veteran-Billboard-President-Julian-Holguin-as-New-Partner-and-CEO">president of Billboard</a> — has plans to push the NFTs beyond the $500 million in trading volume they've already seen. "We want to create joyful experiences for people no matter what product we create, whether it's a video game, a profile picture for Instagram, the music you listen to, [or] real-life attractions," Holguin told Insider during an interview at the <keyword id="14252813" type="UNKNOWN" weightage="60" keywordseo="nft-nyc" source="Orion">NFT.NYC</keyword> conference Wednesday.<div type="image" title="Doodles NFTs" height="1120" width="2240" msid="92411956" hostid="261"></div>But it isn't just cute JPEGs Holguin aspires for — his vision is to transform the company into a Web3 multimedia and entertainment brand that features film, music, and animation. The company named musician Pharrell Williams as the chief brand officer this week. "I'm a big fan of the brand," Williams said in a video message at NFT.NYC. "We're going to build from the core community outward and bring Doodles to new heights."On the same day, Doodles announced it had also raised its first funding round led by the venture capital firm Seven Seven Six, a firm helmed by the co-founder of Reddit, Alexis Ohanian.Doodles' in-person event during NFT.NYC saw enthusiasts and token holders wait in line for up to three hours to gain access to a colorful, real-life Doodles environment. In the 24 hours leading up to Thursday, which coincided with the event in New York, Doodles' online sales volume surged over 1,000% to surpass $3.2 million, according to <a href="https://cryptoslam.io/">Cryptoslam data</a>.<h2>NFTs for an economic downturn</h2>Despite the breakthrough year NFTs had in 2021, weekly sales have declined by more than 80% from a January peak of almost $1 billion, data from <a href="https://nonfungible.com/market-tracker">nonfungible.com</a> shows. And the size of the total <keyword id="11892695" type="UNKNOWN" weightage="60" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> market has fallen below $1 trillion dollars this month, after having topped $3 trillion last year.Bitcoin, the most widely traded cryptocurrency, is hovering around $20,000 currently, after hitting a record $69,000 in November. A slowing economy, coupled with rising interest rates and red-hot inflation has turned investors away from riskier assets.Still, Holguin said the upcoming Doodles 2 collection will cost less, which will lower the barrier to entry. "The economy presents a macro challenge right now for everyone," Holguin said. "But we're really diversifying our business so we're not completely tethered to the price of <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword>. Plus Doodles 2 is going to be the most easily accessible project from a price perspective."In the event of a recession, Holguin said, the last thing people will get rid of will be something like a Netflix or Spotify account — and those kinds of platforms are exactly what Doodles aims to develop on the blockchain.<div type="image" title="Doodles NFT NYC event" height="2016" width="4032" msid="92411957" hostid="261"></div>"If people are at home, and don't have the means to go out and do the things they'd do if they have more disposable income, they're going to be home engaging with online content," he said. "So they'll be right there engaging with our products because we're creating easier points of entry."He said the current rout in the digital asset market was a sign of a "big maturation process" and echoed the belief of both the <a href="https://markets.businessinsider.com/news/currencies/nft-nyc-conference-digital-asset-downturn-blockchain-crypto-jodee-rich-2022-6">founder of NFT.NYC</a> as well as the <a href="https://markets.businessinsider.com/news/currencies/nftnyc-sandbox-us-ceo-metaverse-crypto-winter-digital-time-square-2022-6">US CEO of The Sandbox</a>: Stronger projects with supportive communities are going to be the ones that emerge stronger than before. "Yeah, the economy is going through a down period right now, but this isn't going to last forever," Holguin said. "Doodles is here to let everyone channel their inner child, and understand that everything's possible with the power of your imagination. We're as bullish as ever."

Doodles NFTs hit $500 million in sales and could still weather recession, says CEO who's tapped Pharrell Williams and Reddit's Alexis Ohanian to build a Web3 media giant

<ul class="summary-list"><li>Prices of LinksDAO NFTs roughly doubled after Steph Curry bought a membership.</li><li>The DAO sold out of its 9,094 NFTs just days after it launched.</li><li>LinksDAO is a loosely organized collective that has raised millions in ether, hoping to buy a real-world golf course.</li></ul>The prices of LinksDAO non-fungible tokens roughly doubled after NBA superstar Steph Curry bought a couple of them, which give him membership to a new decentralized autonomous organization trying to buy a golf course.After the Golden State Warriors player made the purchase Monday, he was swiftly welcomed by the cryptocurrency collective."Welcome to LinksDAO, @StephenCurry30 - See you on the 1st tee!" the group said in a <a href="https://twitter.com/linksdao/status/1480656785212166150?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1480656785212166150%7Ctwgr%5Ehb_0_7%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F90139%2Flinksdao-nft-prices-jump-steph-curry-purchase">tweet</a>. The DAO sold out of its <a href="https://opensea.io/collection/linksdao">9,094 NFTs</a> — 6,363 Leisure Membership NFTs and 2,727 Global Membership NFTs — just days after it launched in December and raised nearly $11 million, according to <a href="https://opensea.io/collection/linksdao">OpenSea</a>, where it released its first collection. Since Curry's purchase, the value of the digital collectibles jumped on the secondary market. For the first type of <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword>, the Leisure Membership, the floor price jumped from 0.29 ETH (roughly $904) to 0.72 ETH ($2,245). For the second, more exclusive type, the Global Membership, the floor price has jumped from 1.12 ETH ($3,492) to 2 ETH ($6,236).<a href="https://markets.businessinsider.com/news/currencies/linksdao-memberships-sold-out-raised-11-million-buy-golf-course-2022-1">LinksDAO</a> is a loosely-organized <a href="https://legal.linksdao.io/">cryptocurrency collective</a> that seeks to buy and operate a real-world golf and leisure club for its newly minted members.In this case, the NFTs represent various rights, including the right to purchase a membership at the first physical club acquired by the DAO, along with governance rights via the $LINKS token which launched in early 2022.According to the DAO's roadmap, it plans to acquire a golf course by mid-May and open the club location by early 2023 at the latest. The group also plans to expand to additional locations. DAOs have dominated headlines over the past few months as emboldened crypto-enthusiasts try their hands at crowdfunding. Among the most well-known groups is <a href="https://markets.businessinsider.com/news/currencies/constitutiondao-raises-46-million-buy-rare-copy-us-constitution-auction-2021-11?utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">ConstitutionDAO</a>, which failed to buy a 235-year-old copy of the US Constitution in November. The DAO <a href="https://markets.businessinsider.com/news/currencies/ken-griffin-citadel-constitution-copy-constitutiondao-crypto-collective-meme-stocks-2021-12?utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">lost its bid</a> to the billionaire Citadel CEO Ken Griffin.As for Curry, the golf-loving athlete has been snapping up various NFTs as of late, including a $180,000 bored-looking blue-furred ape from the Bored Ape Yacht Club in <a href="https://markets.businessinsider.com/news/currencies/steph-curry-nft-bored-ape-yacht-club-180000-ethereum-nba-2021-8">August 2021</a>.

Prices of LinksDAO NFTs roughly double after Steph Curry buys a membership to the crypto collective trying to buy a golf course

<ul><li>A former <keyword id="12012796" type="UNKNOWN" weightage="60" keywordseo="opensea" source="Orion">OpenSea</keyword> employee was charged with <keyword id="6368158" type="UNKNOWN" weightage="60" keywordseo="trading" source="Orion">trading</keyword> <keyword id="11901075" type="UNKNOWN" weightage="60" keywordseo="nfts" source="Orion">NFTs</keyword> based on insider information by the Department of Justice.</li><li>The first-ever <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword> <keyword id="11938290" type="UNKNOWN" weightage="60" keywordseo="insider-trading" source="Orion">insider trading</keyword> case was brought against Nathaniel Chastain, according to the complaint. </li><li>"NFTs might be new, but this type of criminal scheme is not," U.S. Attorney Damian Williams said.</li></ul>The Department of Justice has charged a former OpenSea employee in the first ever NFT insider trading case on Wednesday.Nathaniel Chastain allegedly bought dozens of NFTs in advance of them being featured on OpenSea's homepage, <a href="https://www.justice.gov/usao-sdny/pr/former-employee-nft-marketplace-charged-first-ever-digital-asset-insider-trading-scheme">the DOJ said.</a> An NFT feature on OpenSea's website, which is the largest trading platform for the digital art collections, often benefits from an immediate and substantial increase in price, according to the DOJ.The information Chastain used to buy the NFTs in advance of them being featured on OpenSea's website was confidential. Chastain was a former product manager at OpenSea and was responsible for selecting the NFTs to be featured on the website's homepage. OpenSea's practice is to keep its NFT features confidential until they are posted on the homepage.With advanced knowledge of which NFTs would be featured on the website, Chastain allegedly purchased dozens of NFTs based on the confidential information from June 2021 through September 2021. After the NFTs were featured, Chastain sold them at profits of two to three times his initial purchase price.In an attempt to cover his tracks, Chastain purchased the NFTs using anonymous cryptocurrency wallets and anonymous accounts on OpenSea. But Twitter sleuths <a href="https://markets.businessinsider.com/news/currencies/opensea-mark-cuban-backed-nft-crypto-platform-insider-trading-2021-9">were able to identify Chastain as the rightful owner</a> of the anonymous accounts in September, and OpenSea said in a statement that it was aware of the insider trading. The NFT marketplace has since implemented new policies to prevent future insider trading among its employees."As the world's leading web3 marketplace for NFTs, trust and integrity are core to everything we do. When we learned of Nate's behavior, we initiated an investigation and ultimately asked him to leave the company. His behavior was in violation of our employee policies and in direct conflict with our core values and principles," an OpenSea spokesperson said. Chastain was arrested Wednesday morning and is being charged with wire fraud and money laundering, each of which carries a sentence of up to 20 years in prison. "NFTs might be new, but this type of criminal scheme is not... Today's charges demonstrate the commitment of this office to stamping out insider trading – whether it occurs on the stock market or the blockchain," US attorney Damian Williams said.

You Searched For "nft value" and got 10 results

Donald Trump's NFT trading cards jumped in value to almost $1,700 after Manhattan indictment

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A CryptoPunk NFT worth nearly $1 million was sold at 95% below its market value in what may have been a mistaken listing

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Crypto market slips below $2 trillion in value as sell-off wipes billions off big hitters like bitcoin and ether, as well as altcoins

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Play-to-earn crypto games have exploded onto the scene and are shaking up gaming business models. Here's how they work, and where the value comes from for investors.

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Solana's sol token rallies over 20% to record highs and overtakes dogecoin in market value, driven by the surge in new NFT projects

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Retail investing platform eToro launches $20 million NFT fund to support artists and brands

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Doodles NFTs hit $500 million in sales and could still weather recession, says CEO who's tapped Pharrell Williams and Reddit's Alexis Ohanian to build a Web3 media giant

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The first-ever NFT insider trading charge has been brought by the Justice Department against a former OpenSea employee

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