Breaking News
LAST CHANCE for Cyber Monday SALE: Up to 54% off InvestingPro! Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Crypto Flipsider News – Grayscale Metaverse Forecast, Adidas Crypto Partnerships, DOGE Shorts ATH, Cathie Wood’s New Strategy, NFT Record Sale

CryptocurrencyNov 25, 2021 10:02AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Crypto Flipsider News – Grayscale Metaverse Forecast, Adidas Crypto Partnerships, DOGE Shorts ATH, Cathie Wood’s New Strategy, NFT Record Sale

Read in the Digest

  • The Metaverse is a $1 Trillion Opportunity, Adidas (OTC:ADDYY) Finds its First Crypto Partners, MetaWars Launches the ‘First’ Cross-Game Metaverse Launchpad
  • Cathie Wood is Testing a New ‘ARK On Steroids’ Strategy
  • Dogecoin Shorts on Bitfinex Hit All-Time High, Traders Expecting Squeeze
  • NFT Newsbites: NFT Becomes Collins Dictionary Word for the Year, Christie’s to Auction on OpenSea, NFT Yacht Sells for $650,000

The Metaverse is a $1 Trillion Opportunity, Adidas Finds its First Crypto Partners, MetaWars Launches the ‘First’ Cross-Game Metaverse Launchpad

Since Facebook’s corporate rebrand as Meta, the metaverse has grown to become one of the most talked-about topics. A recent Grayscale report shows that the rate of active metaverse users has increased by more than 10 times between May 2020 and June 2021.

In the report “The Metaverse, Web 3.0 Virtual Cloud Economies,” Grayscale writes that the “market opportunity” in making the metaverse available for the masses may be worth over $1 trillion. The report adds that capitalists are already looking to take advantage of the sector.

Confirming the increasing number of entrants into the metaverse, Adidas has announced its first-ever crypto partners. Adidas is lacing up to enter the metaverse by partnering with Coinbase (NASDAQ:COIN), and one of the first metaverse platforms, the Sandbox.

Looking into the future, MetaWars has launched a Launchpad portal to revolutionize GameFi. The MetaWars Launchpad is the first platform that will allow gamers to transfer their characters, currencies, and assets between game worlds.

Flipsider:

  • The metaverse is not a new concept, being around for almost three decades. Neal Stephenson coined the term in1992

Why You Should Care

Although in its early stages, the metaverse has already shown signs that it could change how we work, play, and interact in the future

Cathie Wood is Testing a New ‘ARK On Steroids’ Strategy

American investor and the founder, CEO and CIO of Ark Invest, Cathie Wood, said her firm is internally testing out a strategy that would take her $19.44 billion ARK Innovation ETF (ARKK) to the next level.

She explained that the strategy would involve shorting stocks in the big benchmark indexes — a more aggressive bet on the old guard being upended by new technology in the years ahead.

Wood believes that those benchmarks were where the bigger risks were longer-term. In her interview on Wednesday, she opined that the strategy, now available for employees, can be likened to “Ark on steroids.”

Flipsider:

  • While Wood admits that there are gains in the strategy like technologies, the bigger wins were still several years out

Dogecoin Shorts on Bitfinex Hit All-Time High, Traders Expecting Squeeze

Dogecoin, which started as a joke, now ranks as the 10th largest cryptocurrency. As the DOGE price declines steadily, the number of margin DOGE short positions hits a new all-time high on Bitfinex.

The news was shared by Sir Doge of the Coin, as he advised the Doge community to squeeze. In a short squeeze situation, many investors short a stock (bet against it), but the price of the stock ends up shooting up instead.

The GameStop (NYSE:GME) saga is a very popular short squeeze event. The short squeeze helped pull GameStop and AMC out of bankruptcy, as many hedge funds placed their bets against GameStop.

In addition, the DOGE experienced one of its biggest bull runs in 2021 as GameStop outperformed expectations. Now, the DOGE community is hoping that a short squeeze would pull Dogecoin, which is 70% down from its ATH, to new highs.

Flipsider:

  • The price of Dogecoin is showing no signs of bullish momentum, with DOGE dropping by 30% in the last month

Why You Should Care

The power of decentralization shown in the GameStop Saga was able to bend Wall Street. If there is anything Dogecoin is famous for, it is a strong community not afraid to attempt anything

NFT Newsbites: NFT Becomes Collins Dictionary’s Word for the Year, Christie’s to Auction on OpenSea, NFT Yacht Sells for $650,000

The 2021 NFT hype has officially been endorsed, as Collins Dictionary chose “NFT” as its Word of the Year. The UK-based dictionary company defines NFT as;

Abbreviation for

  • non-fungible token: a unique digital certificate, registered in a blockchain, that is used to record ownership of an asset such as an artwork or a collectible
The NFT space has set another record with the sale of The Metaflower Yacht for $650,000 (149ETH). The NFT Yacht, which was created by Metaverse developer, Republic Realm, has become the most expensive NFT item in The Sandbox metaverse.

Continuing the trend, the British auction house, Christie’s, has partnered with the NFT marketplace, OpenSea, to auction a series of non-fungible tokens to art collectors around the world rather than its website. Christie’s is behind two of the biggest NFT sales, Beeple’s “Everydays” collage and “Human One” sculpture.

Flipsider:

  • While NFT has become one of the biggest spaces in crypto today, some investors still believe digital arts are overpriced and overhyped

Why You Should Care

The popularity and use cases for NFTs are growing at a breakneck pace, which could lead to greater adoption of digital art.

EMAIL NEWSLETTER

Join to get the flipside of crypto

Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.

[contact-form-7] You can always unsubscribe with just 1 click.

Continue reading on DailyCoin

Crypto Flipsider News – Grayscale Metaverse Forecast, Adidas Crypto Partnerships, DOGE Shorts ATH, Cathie Wood’s New Strategy, NFT Record Sale
 

Related Articles

UK digital services tax targets crypto exchanges
UK digital services tax targets crypto exchanges By Cointelegraph - Nov 28, 2021

A recent update to Her Majesty’s Revenue and Customs (HMRC) regulations has introduced a digital services tax that will be levied on cryptocurrency exchanges operating in the...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email