Welcome back to the Netcoins weekly crypto news update! This week has seen a surge in some crypto prices while new faces enter the NFT space. To start, we highlight the Shibu token, which reached an all-time high this week. After that, we go into a few stories regarding the NFT space. WWE and McDonalds are jumping into the space for the first time, and Adobe will be implementing an NFT option into their photoshop platform. To wrap things up, we then touch on the Squid Game crypto, which saw a dramatic rise in just one week. All of that and more on this edition of the weekly crypto news update.
Shiba Inu Hits All-Time High As Cryptocurrency Rally Continues
Shiba Inu has reached an all-time high
, becoming one of the biggest digital currencies by market value in the process.
The response to the meme coin Dogecoin, Shiba Inu increases more than 40% in just a week. With this increase, Shiba Inu has become the 11th biggest cryptocurrency.
The coin has seen more than a 45,000,000% increase year-to-date. However, following a Tweet from Tesla’s Elon Musk stating he doesn’t own Shiba, the digital currency dropped about 10%.
This increase coincides with
significant growth over the past month.
Photoshop Adds a ‘Prepare as NFT’ Option
Adobe Photoshop, a raster graphics editor, will be adding a “Prepare as NFT” save option to Photoshop by the end of the month.
Adobe is putting this feature in place to prevent the minting of art by those who didn’t create it.
Currently, no rules are surrounding the prevention of someone minting an NFT with content they did not create.
Adobe is looking to combat this as they will be providing a way to show that the NFT you are minting wasn’t stolen if connected with an NFT marketplace that works with them.
https://petapixel.com/2021/10/26/photoshop-to-add-prepare-as-nft-to-save-options/
WWE Joins the NFT Space With Fox
World Wrestling Entertainment (WWE)
, one of the largest professional wrestling organizations, will be joining the NFT space.
Alongside Fox Entertainment’s Blockchain Creative Labs, WWE will be launching an NFT marketplace for WWE tokens and collectibles.
WWE will create authentic NFTs that celebrate the company’s entire catalogue of digital assets. This catalogue will include iconic moments, WWE Superstars, and events like WrestleMania and SummerSlam.
Additional details about the NFT marketplace’s name and launch date will be announced in the coming weeks.
The project also marks Blockchain Creative Labs’ first-ever content deal with a non-Fox property.
McDonald's cooks up first NFT play by flipping rare McRib into digital art
McDonalds is breaking into the NFT space
for the first time with a sweepstake that is releasing in tandem with the return of the McRib on November 1st.
This marks the 40th anniversary of McDonalds’ iconic sandwich, so to celebrate, it has been sanctified as a limited number of NFTs. The NFT will allow fans to own a permanent piece of digital McRib memorabilia.
McDonalds will hand out these NFTs by November 12th to 10 of their Twitter followers.
Squid Game Cryptocurrency Sees Exponential Growth in First Few Days
Squid Games, a hit Korean Netflix show, has created an online equivalent of the game within the show for fans to participate in and earn crypto in the process.
To participate, you need the Squid cryptocurrency to play, which as of Tuesday was only with 1 cent; however, by Friday, the value skyrocketed to $5.42 Canadian a token.
Squid is a play-to-earn cryptocurrency, where people play the game to earn more tokens.
The more that join, the larger the reward pool will be. Also, each round will cost Squid to join, with the price of admission increasing the further you get into the game.
That wraps up the news for the week.
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The information provided in the blog posts on this platform is for educational purposes only. It is not intended to be financial advice or a recommendation to buy, sell, or hold any cryptocurrency. Always do your own research and consult with a professional financial advisor before making any investment decisions. Cryptocurrency investments carry a high degree of risk, including the risk of total loss. The blog posts on this platform are not investment advice and do not guarantee any returns. Any action you take based on the information on our platform is strictly at your own risk. The content of our blog posts reflects the authors’ opinions based on their personal experiences and research. However, the rapidly changing and volatile nature of the cryptocurrency market means that the information and opinions presented may quickly become outdated or irrelevant. Always verify the current state of the market before making any decisions.
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