Seven Bits is back with another daily update on blockchain and cryptocurrency. Check out our top picks for this week below!
The Saudis NFT Sold out within Hours:
The Saudis is a famous collection of 5,555 NFTs created by multiple assists focusing on memes and art. After being sold on foundation, a leading NFT marketplace, the collection was sold out within hours. The cheapest NFT edition was for 0.75 ether ( around $867). However, the price peaked at about 1.3 ETH (approximately $1,650) last Saturday due to surging popularity.
The Saudi NFTs focus on memes and art, with each piece in the collection representing a different theme. The sale was open to anyone with an Ethereum wallet, and the 5,555 NFTs were divided into three editions: the "People's Edition," the "Founder's Edition," and the "1% Edition". The collection has so far collected 6,700 ETH (roughly $7.7 million) in sales since its mint.
The Saudis project is gaining popularity as it is one of the few NFT collections sold to the public. Most NFTs are currently being sold in private sales or via auction houses. The collection's popularity is also a testament to the growing interest in NFTs, which are cryptographic tokens that can represent digital assets such as art, music, or videos.
Blockchain Can Make Social Media Interoperable, Says FTX CEO
FTX crypto exchange CEO Sam Bankman-Fried has said that he believes blockchain technology can make social media interoperable. He made the remarks during an appearance on the latest episode of Unconfirmed, a podcast about all things crypto.
Bankman-Fried noted that while many social media platforms are available, they are siloed and don't talk to each other. This, he said, is because social media companies are incentivized to keep users on their own platforms. However, he believes blockchain can change this by allowing users to own their data and choose which platform to share it.
Talking about the potential of blockchain, he said: "I think the big thing that blockchain enables is, it's the first time we've had a technology that allows people to own their data […] And so I think what blockchain does is it gives people a choice over which platform they want to use. It could make social media interoperable."
He further said that blockchain could establish a secure payment method allowing content creators to be paid for their work directly by users. He believes this will help reduce the power of social media platforms and make them more user-centric.
34% of Gamers Want to Use Crypto in the Metaverse
Metaverse is the most popular trend among cryptocurrency users, with 34% of gamers saying they would like to use crypto in the game, according to a new survey. In addition, the survey conducted by Globant found that 25% of respondents said they would like to use crypto in Fortnite, while 20% said they would like to use it in World of Warcraft. It also found that 18% of gamers would like to use crypto in Minecraft, while 17% said they would like to use it in Call of Duty.
The survey was conducted among 1,000 gamers from the US, UK, Canada, and Australia. It found that gamers are increasingly interested in using crypto in games, with 34% saying they would like to use it in the Metaverse. It is up from 28% who said they would like to use it in games in 2020.
The survey also found that gamers are becoming more aware of crypto and its potential use in games. For example, when asked if they knew what cryptocurrency was, 70% of respondents said they did, up from 60% in 2020. Additionally, when asked if they would like to use cryptocurrency in games, 34% said they would, up from 28% in 2020.
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