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Sports Clothing Line, Adidas, makes a move to join the Crypto Revolution

Adidas has entered the crypto space with a partnership with Coinbase and the metaverse playground The Sandbox announced this week.

The agreements have been kept under wraps so far, but they represent the powerhouse apparel company’s first major entry into crypto and the thriving blockchain space.

Adidas, the well-known sportswear firm, recently took to its Twitter page to excite its community with the news of a collaboration with Coinbase, which it described as “probably nothing.”

Several top brands have made the move to liaise with crypto projects, and the  German sportswear behemoth may be one step closer to accepting digital asset payments and making the first foray into “metaverse gear.”

Crypto Payments in View?

Adidas is rumoured to be partnering to facilitate crypto payments for the sportswear company, potentially introducing a digital asset payment gateway to the Adidas community.

Sandbox, a virtual Metaverse initiative, tweeted at Adidas recently, directing users to a 144-parcel Adidas Original place on its platform. Sandbox proposed a deal in which the two entities co-design their future.

After Adidas tweeted that it would be establishing an “adiVerse” utilizing the Metaverse platform, SAND, The Sandbox’s native coin, surged. Pieces of property on The Sandbox were purchased by the sportswear giant, showing its seriousness in the metaverse.

Nike’s Foray into Crypto in Sports

While Adidas may be dabbling in the non-fungible token (NFT) industry, it would be following in the footsteps of its competitor Nike, which is attempting to bring its sneakers to the Metaverse.

Adidas has long trailed behind companies like Nike, which recently teamed with Roblox on a virtual branding project called ‘NIKELAND.’ Nike also has a long history with patents, with numerous recent requests to the US Patent & Trademark Office indicating that the company may be expanding its footprint in NFTs and the metaverse. In late 2019, the leading sports gear manufacturer was granted a patent for “CryptoKicks.”

Coinbase is Leading Crypto Adoption

This will not be Coinbase’s first collaboration with a sports or esports group. The crypto firm has been leading a crypto adoption in the sporting community and has announced several partnerships in the past. They formerly collaborated with Team Liquid, one of the top professional esports teams in the world.

Excitement in the Air

Thousands of people have already expressed their excitement at this news, indicating that it might have a significant impact on the crypto market. These types of collaborations have a significant impact on the value of cryptocurrencies, particularly those listed on Coinbase.

It’ll only be a matter of time before other brands adopt cryptocurrency and embrace the Metaverse concept. Overall, the Adidas and Coinbase relationship is a win for crypto traders, implying widespread adoption is a foregone conclusion.

Latest Crypto News: Metaverse Group Purchases Land in Decentralnd as part of its Plans to Expand its Platform

As part of its expansion plans, the Metaverse Group, based in Decentraland, declared that it had completed the biggest Metaverse land acquisition ever recorded. The company, which is an affiliate of Tokens.com, purchased 116 plots of land in Decentraland’s Fashion Street sector. The total area of the land purchased is 6,090 square feet, and it cost 618,000 MANA tokens, or around $2.5 million.

The land will be developed for fashion exhibitions and commerce by Metaverse Group. It will also develop alliances with fashion firms interested in expanding their presence in the Metaverse, particularly in Decentraland. According to Sam Hamilton, the Decentraland Foundation’s Head of Content., fashion is the next point of attraction and growth in the Metaverse.

Metaverse Group is Expanding

Since Tokens.com became the company’s major stakeholder, Metaverse Group has made a number of deals. On Nov. 17, the publicly traded Canadian blockchain investment business invested $2.75 million in Metaverse Group to expand its ownership of the company from 50% to 70%. The cash will be used by Metaverse Group to purchase more land in Metaverses, including Decentraland, Somnium Space, The Sandbox, Cryptovoxels, and Upland.

MetaSoccer Raises Money for Soccer on Metaverse

In the Metaverse, MetaSoccer has raised $2.2 million to build soccer games and a soccer club administration tool. Play Ventures, Defiance Capital, Parafi Capital, DAO Maker, Kyros Ventures, Metrix Capital, and Peech Capital led the funding round.

Users can create virtual soccer teams and win tournaments or manage teams over the course of a season with MetaSoccer. Users can earn MSU tokens in the Play to Earn (P2E) game by trading players, beating teams, and obtaining endorsements on the system.

According to the co-founder and MetaSoccer COO Patxi Barrios, the goal is to create a unique platform for digital football that would hold similar hype as traditional soccer. Barrios explained his intention  “to create a new generation of digital native football players and clubs which will achieve similar ratings to those of professional football leagues.”

Robotos NFTs to be Released by Time Studios

Time Studios, Time Magazine’s television, and film division are working on a children’s show centred on Pablo Stanley’s Robotos NFT series. The Robotos NFT package contains 10,000 “droids” assembled from over 170 attributes at random. The studio’s move into the NFT building is part of a larger plan to explore and deliver unique creative methods across several media platforms.

According to Keith A. Grossman, Time President, “There is so much incredible IP being developed within the NFT space. We are proud of the role Time can play by providing these creators with our platform and access to alternative mediums.”Time has been a supporter of NFTs, and a few months ago, it released its TIMEpieces NFT collection, which featured static photos and animations with a “Building a Better Future” motto.

Crypto Payment platform, Moonpay Announces New Fund Raising to be used to Grow the Platform

MoonPay, a crypto payments infrastructure provider, has raised a massive $555 million in funding from Coatue and Tiger Global, valuing the company at $3.4 billion. The company was previously self-funded and profitable, with net revenue of $150 million this year.

Moonpay Offers Quality Services

The platform has been offering quality services to its customers. Users can pay for crypto and digital assets with a card, Apple Pay, or even open banking through MoonPay. Since its launch in 2019, the company has handled transactions in over 90 cryptocurrencies, with over 7 million users.

MoonPay undertakes Know-Your-Customer (KYC) checks to authenticate a customer’s identification, partnering with businesses all over the world to guarantee local requirements are followed. MoonPay also bears the time and financial consequences of chargebacks or fraudulent cryptocurrency transactions.

Moonpay has Mainstream Attention

Moon pay has already gained mainstream attention and was recently praised by popular show host Jimmy Fallon. During a recent interview with digital artist Beeple, talk show presenter Fallon gave a shout-out to the company. Fallon purchased his first NFT using the company’s services.

The startup, according to Fallon, is “PayPal for crypto” and is integral for the growing crypto world. When asked if he agreed with this characterization, Soto-Wright, Moonpay’s CEO, responded that, while he wants MoonPay to be its own brand, he sees the payment mechanism as the “passport” to Web3, similar to how PayPal was to e-commerce.

Funds to be used for Expansion

According to MoonPay’s team, there is a clear outline of how the newly raised funds will be used. The money will be used to hire additional workers, extend geographic coverage, and provide new payment options.

MoonPay’s co-founder and CEO, Ivan Soto-Wright,  in an interview, remarked that the company is considering mergers and acquisitions. He said, “There are companies that can help us move faster in certain geographies or help improve certain components of the infrastructure stack. We want to bring a billion people into the crypto economy by 2030. We can do that faster by partnering with other companies.”

MoonPay claims that since 2020, transaction volume has climbed 35 times, and the company’s personnel has grown from five to over 130. An investment round drawing some of the world’s greatest investors, according to Soto-Wright, will help the company scale even further.

Blossom Capital, a returning backer, and new investors Paradigm, NEA, and Thrive were among the other investors in the round.

Reaction to the Fundraising

In a press release, Coatue Managing Partner Kris Fredrickson revealed his excitement over the recent partnership and also expressed his anticipation over the possible wider adoption the partnership will produce.

 He said, “We are excited about the opportunity in crypto, but one of the challenges to mainstream adoption is offering the same seamless experience that users have come to expect from modern internet products. MoonPay has impressed us with its product, infrastructure, and execution. We are excited about the opportunity in crypto, but one of the challenges to mainstream adoption is offering the same seamless experience that users have come to expect from modern internet products. MoonPay has impressed us with its product, infrastructure, and execution.”

NFT Plans

MoonPay is working on a means to simplify the checkout process on NFT marketplaces as its next target.  MoonPay has begun beta testing this solution with a number of partners, including OpenSea, Binance, and Dapper Labs.

Last week, Monday’s NFT ambitions garnered high-profile support after popular singer Post Malone shared a clip where he used Moonpay to purchase an Ape NF.

Elrond Launches Maiar DEX Liquidity Reward Program Worth $1.29 Billion

Elrond, a high-throughput blockchain capable of expanding beyond 100,000 transactions per second while maintaining low latency and cheap costs, recently thrilled its community with the huge announcement that It’s debuting a $1 billion liquidity incentive program to help launch its Maiar DEX DeFi platform faster.

According to reports, Elrond’s announcement could be the largest DeFi incentive scheme ever. It’s a big step toward expanding DeFi acceptance beyond the crypto space’s current limitations. Above all, it aspires to make DeFi more widely adopted.

More Details 

The incentives will be priced in MEX,  the Maiar DEX governance, and utility tokens. As a result, Maiar DEX users will receive $1.29 billion in MEX tokens. This will only apply to users who provide liquidity in the EGLD, MEX, and USTC coins. Furthermore, $282 million of the $1.29 billion will be spent in the first month.

The program was slated to commence on November 19, which coincides with the formal launch of the DeFi platform, DEX, which has distributed ownership in the form of payable MEX tokens to over 60,000 accounts.

According to Benjamin Mincu, the CEO of Elrond Network, “By distributing Maiar DEX ownership to the next billion users, we lay the foundation for a truly global financial system that is accessible to everyone, everywhere.”

Maiar DEX has Been Scrutinized

An appealing feature is that the smart contracts created for the Maiar DEX have been rigorously audited and formalized via Runtime Verification. In reality, the platform has been put to the test in several financially rewarded public events, demonstrating its performance and ability to scale even in the most extreme situations.

All of this, when combined with the Maiar App, which allows first-time users to receive a safe crypto wallet in under 1 minute with just contact information, and the Maiar Exchange’s attractive and easy-to-use UX creates a genuinely strong new standard aimed at driving DeFi growth.

More Incentives

Following the launch and anticipated success, more incentives and schemes have been outlined. According to reports, after the first month, efforts to boost usage will be followed up with a follow-up incentive campaign targeted at users of the system’s main DeFi platforms. These users will also be able to claim MEX tokens based on their usage of products like Uniswap, Pancake Swap, and Sushi Swap.

Elrond Plans to Become the Future of Crypto

Elrond is a brand-new blockchain architecture built from the ground up to deliver a 1,000-fold increase in throughput and execution speed. 

Elrond accomplishes this by introducing two major innovations: a unique Adaptive State Sharding mechanism and a Secure Proof of Stake (PoS) algorithm, both of which enable linear scaling while also providing a quick, efficient, and secure consensus process. 

Elrond seeks to become the backbone of a permissionless, borderless, globally accessible internet economy by processing upwards of 10,000 transactions per second (TPS) with 5-second latency and negligible cost.

Daniele Sesta is Changing the Crypto Space

Daniele Sesta is no stranger to crypto users, especially those seeking to learn new trends and engage in innovative conversations. Sesta is the crypto expert who bombards Twitter with a variety of messages and engages in heavy discussion at all hours of the day.

Those who follow him closely would observe the picture of a frog sitting as the profile picture of his LinkedIn page. Although that might seem weird, it’s no surprise seeing that Sesta loves to dare the unimaginable and is a notorious creative. 

Sesta has several crypto projects to his name and is the founder of wildly popular cryptocurrency ventures such as Wonderland, Popsicle Finance, and Abracadabra. Each of his projects has been met with success, and one can only speculate that Sesta is creating Defi 2.0.

Sesta is developing an entire ecosystem where all of his projects can be used among each other which are also being built across multiple chains, not just AVAX.

Sesta has been in the space

Sesta has a long history in the blockchain business. He has stated in various interviews that he began using Bitcoin in 2011. Much is not known about his personal life, but his expertise speaks volumes. His project Zulu Republic made an impact in the industry in 2018. Daniele claims to speak Italian, Spanish, and English on his LinkedIn profile, although the general consensus is that he is Italian

His Previous Work

Zulu Republic was designed as a digital platform ecosystem based on the Ethereum blockchain, focused on and inspired by the belief that autonomous partnership is the human protocol of the future.  With an emphasis on unrivalled user experience, Zulu’s objective was to make it easier for people to join the cryptocurrency revolution, empowering them to take control of their own financial lives.

Credibility

Sesta’s recent projects Popsicle Finance, Abracadabra, Wonderland, mirror his ambition to spearhead a new type of revolution. While his popularity is still soaring, Sesta is not shy to identify himself with all of his projects rather than hide behind the veil in case things go south. 

Sesta experienced a setback this year but was able to get back on his feet, dragging his reputation with him. The platform Popsicle Finance was hacked for tokens valued at more than $25,000,000 at the beginning of August 2021. This was a major hack, and the price of the $ICE token plummeted as a result.  Rather than hiding, Sesta worked hard to solve the problem, and the stolen tokens were funded and returned to the owners who lost money as a result of the attack.

It’s also worth noting that Popsicle Finance, like most other Defi businesses, was audited, implying that what occurred to Popsicle Finance could happen to any other project in the market.

Defi 2.0 Projects, the Next Big Thing

DeFi is going to be the next big thing in the crypto world. Defi’s total market capitalization is well over $150 billion, and the space is only scratching the surface. This year, a lot of that value grew as more people realized how decentralized apps might deliver the ideal blend of yield and efficiency. The amount of money going into these Defi applications is mind-boggling.

Projects building on Defi 2.0 ( second generation Defi protocols) are definitely going to take the industry by storm, and two of Sesta’s projects, Abracadabra and Popsicle Finance, are listed as some of the top Defi 2.0 projects in the space.