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MEXC Global Launches the World's First Blue-Chip NFT Index – CryptoNewsZ

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MEXC Global, one of the most liquid cryptocurrency exchanges with over seven million users, has launched the world’s first index for blue-chip non-fungible tokens (NFTs) to lower the participation threshold for interested retail investors.
In a recent press release, the crypto ramp, which has taken a client-first approach to service delivery, said the decision would prop up the growing market and allow retail investors to own screened and highly coveted NFTs, possibly posting a decent return on investment (ROI).
Under normal market conditions, blue-chip NFTs are out of reach of ordinary users since they can be worth tens, hundreds, or in some instances, millions of dollars in secondary marketplaces like Rarible or OpenSea. Prime examples of blue-chip NFT collections include Moonbirds, Clone X, Meebits, Doodles, and others.
MEXC Global
Zooming in, despite contracted crypto asset prices and the fall of ETH from peaks of around $4.9k in November 2021 to sub $100 by the end of H1 2022, Doodles’ and Moonbirds’ floor prices are at 11 ETH and 23 ETH, respectively. Extrapolating their USDT valuation means they are available for interested users at 17,248 USDT and 36,063 USDT, respectively. At these levels, it is tough for retail investors, mostly fans of the project’s creators and assets, to participate and acquire their cherished NFTs.
MEXC Global is aware of these barriers. Subsequently, they have launched what’s, in essence, the world’s first blue-chip NFT Index for users to take part in the high-octane and lucrative industry. As of mid-August 2022, MEXC Global had released nine NFT indices with support from Moonbirds, Clone X, Azuki, Meebits, Doodles, Invisible Friends, and more. By releasing these indices, MEXC Global provides the rapidly growing NFT community with reliable, liquid indices with the most listed blue-chip NFTs. 
All integrated blue chip NFT indices will be available for trading. For every collection acquired in the primary or secondary market by MEXC Global, the ramp proceeds to tokenize them into one million tokens and list them for interested buyers at a specified price. 
An exciting feature is that tokenized NFTs of any high-value blue-chip artwork, for instance, will bear the same rights as that of an investor or holder with access to the whole asset. NFT rights will be consummate to the number of NFT tokens held and can be freely traded at any time. NFT index holders can also contact the exchange to redeem a complete NFT every week. However, the exchange revealed that holders could readily redeem NFTs twice a week.
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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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