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LIRIK announces NFT collection, receives backlash – Dot Esports

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Lirik is thinking about cancelling his massive NFT project.
During a Twitch livestream yesterday, variety streamer LIRIK discussed his plans to release a collection of NFTs on the Ethereum blockchain. With over 2.8 million followers on Twitch alone, LIRIK’s audience quickly became polarized on his involvement in the NFT space.
“I am doing a personal NFT collection with people from my community,” LIRIK said.
Digital art on the blockchain has become another avenue for Twitch streamers and influencers to further monetize and expand their brand presence. LIRIK believes NFTs may be valuable digital assets in the future, citing recent hype around a metaverse and the future of gaming.
The streamer clarified he is not collaborating with any clip-related NFT sites such as MyClipsTV, which recently shut down due to copyright issues. But many viewers spammed “scam” in his chat, accusing the streamer of swindling his fans. LIRIK was quick to refute the allegations and clarified his plans for the NFT collection.
“I’m not promoting a scam site…this is literally going to be sold off my website,” he explained.
On the price points for his upcoming NFT release, LIRIK said there will be 10,000 NFTs minted, and each one will be priced at $50. He compared the price point to buying a shirt from a merch store.
The sudden and intense backlash in response to LIRIK’s NFT collection has made the streamer possibly rethink his plans, however.
“Apparently there’s fucking blood in the water on NFTs,” LIRIK said.
NFTs, or non-fungible tokens, are tokens that exist on a blockchain such as Ethereum, where digital “smart contracts” verify the token’s unique identity. Because each NFT has a unique identity on the blockchain, they can be distinguished from other NFTs via blockchain technology, even if they appear the same.
In effect, NFTs are a way for digital art enthusiasts to verify the authenticity of an image they have purchased. NFTs are typically released, or minted, in batches, similar to how paintings can be released in a numbered series.
© 2021 Dot Esports

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FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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NFT Collections Will Be Regulated Like Cryptocurrencies Under EU’s MiCA Law, Official Says – CoinDesk

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