Nifty News: Apecoin no longer goes to bananas, Pharrell pulls out Doodles and more…

Nifty News: Apecoin no longer goes to bananas, Pharrell pulls out Doodles and more… – Mail Bonus

Apecoin, the Ethereum symbol associated with the popular and almost certainly not 4Chan-linked Bored Ape Yacht Club NFT project, saw its market value fall by 67.2% or $ 4.3 billion in May and has continued to decline since then.

Despite bearish macro factors looming over both cryptocurrencies and stock markets throughout 2022, May was a particularly difficult month for cryptocurrencies (thanks Terra!)

Like many other assets, Apecoin could not escape the weight of this downturn and its market value fell by 4.3 billion dollars and stood at about 2.1 billion dollars before May 31, where the price fell from 21.27 dollars to 6 $ 97, according to CoinGecko.

APE / USD: CoinGecko

The trading volume was around 5.7 billion dollars at the beginning of May but decreased to 498 million dollars at the end of the month.

Since then, the market value has continued to decline to $ 1.3 billion, with the price at $ 4.40 per token at the time of writing, but the 24 hour trading volume is now around $ 264 million. It is the lowest since it came on the market in March.

Overall, Apecoin has fallen 83.5% from its historic high to $ 6.81 billion at $ 26.70 per token on April 28.

Pharrell Williams signs up for Doodles NFTs

Doodles, one of the main NFT projects in the space, founded by renowned artist Burnt Toast, has signed iconic musician Pharrell Williams as chief brand manager.

To date, the Doodles NFT project has generated approximately $ 503 million in additional sales since its launch in October 2021, and the team is now preparing for its second NFT launch of 10,000 identified avatars in the time to come. will be revealed later this year. year.

Williams is the man behind the beloved, amazing, headlining song “Happy” which has been played for more than 1 billion on YouTube and will work to guide the project’s strategy regarding artwork, music, product lines, animations and shows / public events. The musician will also produce a Doodles-inspired music album entitled “Doodles Records: Volume 1.”

The announcement was made at the NYC NFT event on June 22, where the project also revealed that it had closed a funding round led by Reddit, founder Alexis Ohanian, VC company, Seven Seven Six. However, the amount was not disclosed.

“I’m a big fan of the brand,” Williams said in a video message, adding that “We are going to build from the core community outwards and bring Doodles to new heights, new levels.”

NFT art is helping the overall art market: Specialist

Art expert Magnus Resch believes that the general introduction of NFT technology helps to break down barriers in art galleries and is attracting new buyers in a field that has often struggled for numbers due to its elitist nature.

Resch is an art market economist and holds a Ph.D. in Economics from Harvard University. He has also written two books on the art industry called “Board of Art Galleries “ and “How to become a successful artist. ”

Resch spoke to Art News on June 23 and pointed out an interesting point about symbolic art, arguing that price transparency and relatively easy shopping make it much less threatening for new collectors to enter the market:

The biggest problem in the art market is that we have too many visitors and too few buyers, the number of buyers is decreasing. And why is that? Because buyers are afraid to go into the art world. It’s too elite, it’s not open to first time buyers. If you do not succeed in convincing a novice [to join] into the art world we will all fail.

“But NFTs can help solve this issue. “All of a sudden people are buying because they had full price transparency and automatic access,” he added.

Connected: Inflexible air drops: Could the NFA be the next big acronym in the crypto space?

Solana is building a smartphone, a joke

Solana blockchain / Solana Labs founder and CEO Anatoly Yakovenko has announced that the team will be releasing an Android web3-based smartphone in the first quarter of 2023 called Saga.

The phone will have a 6.67-inch 120Hz OLED display, 512GB of storage, 12GB of RAM and will be powered by the latest Qualcomm Snapdragon 8 Plus Gen 1 chip. It will also have a 50 megapixel main camera and a 12 megapixel ultra-wide shooter. It will be priced at $ 1,000 and pre-orders with a deposit of $ 100 are now open.

It has not yet been revealed whether the phone will go offline every other month and will require manual restart.

Other great news:

Instagram’s parent company, Meta, announced on June 22 that it will begin testing NFT on Instagram Stories using the augmented reality platform Spark AR.

eBay, the e-commerce giant, announced on June 22 the acquisition of KnownOrigin – an NFT marketplace that will help the company advance into the world of blockchain technology and digital collectibles.