Crypto NFT Today: The latest news in blockchain, cryptocurrency and NFT: 9-15 November 2022
Welcome to another edition of Crypto NFT Today! If you like cryptocurrency, NFTs and riding emotional roller coasters, this is the place to be.
Are you ready for the crunch? Let’s get started.
The FTX token is plummeting
The FTT token value fell 20% on Tuesday following a report last week that Alameda Research may be in financial trouble. Alameda is a trading firm owned by Sam Bankman-Fried – who also owns the FTX exchange platform. Alameda is considered a crypto whale and has placed much of his wealth in FTT, the internal ticker symbol of FTX.
Data from CoinGlass shows that it continues to build short bets on FTT as open interest in the crypto derivatives market has increased by 8% in the past hour to a total of $215 million.
FTT is currently trading down 19% to $17.93. SOL is down 17% and Serum’s SRM token is down 10%. The action is spilling over into bitcoin (BTC), which is down 5.6% at $19,650.
Press release: World Crypto Conference 2023
One of Europe’s most exciting blockchain conferences — World Crypto Conference 2023 — will be held from January 13 to 15 in Switzerland, the global center for traditional finance and one of the world’s most crypto-friendly countries.
Fittingly, WCC2023 takes place just before the annual World Economic Forum in Davos. Delegates to both events will discuss the economic and social impact of technology, and in particular the transition to Web3.
The specific goal of WCC2023 is to bridge the gap between the traditional world of finance and business (TradFi) and the crypto world. It also aims to facilitate mass adoption of crypto-assets and create sustainable, fast and secure financial systems. It will encourage collaboration and networking between TradFi and DeFi companies, connecting traditional IT companies with Web3.
The timing of the event could not have been better, coinciding with the move of several TradFi institutions towards blockchain solutions.
Polygon emerges as the Top Web3 Blockchain
The polygon blockchain emerges as the top web3 blockchain. According to a recent Bernstein research report, the popular blockchain is the leading gateway to move Web2 consumers to Web3.
The system has been chosen by Starbucks, NuBank, Reddit, DraftKings, Robinhood Markets and Instagram.
Polygon’s native cryptocurrency, MATIC, surged 30% in two days last week after Meta said it would introduce a toolkit that would allow Instagram users to create and sell Polygon-powered non-fungible tokens (NFTs).
Web3 and the Blockchain Conference focus on supporting indigenous communities
Web3 and the Blockchain World conference on November 8th and 9th in Toronto are working hard for a diverse program that supports human rights and progress.
Proceeds from the W3B Awards Gala on November 8 will support the Fraser Region Aboriginal Friendship Center Association (FRAFCA) with an NFT Art Education program. FRAFCA’s mission is to promote the health and well-being of urban Indigenous peoples in the Fraser Salish region by providing culturally relevant services, support and advocacy. The NFT Art Education program will be delivered by Tamara Goddard, CEO and founder of Four Our Future Indigenous Economics and co-founder of 400 Drums. This program will enable members of the FRAFCA community to harness the power of Web3 and NFT to keep Indigenous cultures and learning alive.
