Snoop Dogg’s NFT Empire is Expanding
The American rapper known as Snoop Dogg is sharing his new music in the form of non-fungible tokens (NFTs), which will be released on the Cardano blockchain.
This NFT launch was conducted through a collaboration between Clay Nation and Snoop Dogg.
Clay Nation posted the official announcement on March 31, 2022, where we can see a video of Snoop Dogg and Champ Medici having a discussion when Charles Hoskinson, the founder of Cardano, shows up on the TV and invites them to collaborate.
— Snoop Dogg (@SnoopDogg) March 31, 2022
The rapper met Hoskinson on Twitter Spaces, where anyone could attend the event through the social media platform.
Yes, I’ll be with Snoop on the 5th. I have the best job in the world https://t.co/mzoChtqRDS
— Charles Hoskinson (@IOHK_Charles) March 31, 2022
This could also be an indication that Hoskinson could potentially appear in a future music video minted on the Cardano blockchain in the form of an NFT.
Clay Nation is a collection of 10,000 digital NFT characters made of clay.
However, this is not the first time the rapper has launched a non-fungible token (NFT) collection or has been a part of one.
On November 25, 2021, Snoop Dogg announced an NFT known as “Decentral Eyes Dogg,” which consisted of animation with several portraits of him and an NFT that sold for 188 Ether (ETH).
Then in February of 2022, Snoop Dogg released songs in collaboration with Gala Music, where 25,000 NFTs were released in circulation and where the rapper reportedly raised $125 million.
Other high-profile investments from Snoop Dogg include being an early investor in Reddit, Robinhood, and the Swedish payments company Klarna.
Due to all of this, we can see that Cardano is next in the lineup of the NFT endeavors that Snoop Dogg is pursuing, and this could lead to an increased usage of the blockchain, as well as higher demand for the ADA cryptocurrency.
The actor and comedian Martin Lawrence also started selling his Cardano-powered NFTs. On June 11, 2022, Lawrence announced that he sold his first NFT for 3,000 ADA, titled “Zoltan Roberts,” from the collection known as “Martin: The Reunion.”
Steve Aoki, one of the most well-known DJs on a global level, said that he makes more from NFTs than from music royalties.
Aoki sold an NFT for $888,888.88 last year, which was paid by former T-Mobile CEO John Legere. This was a part of his collection known as “Dream Catcher,” which was created by visual artist Antonio Tudisco.
Today’s the day 😍😍 u can get my Dream Catcher collection at 11am PST / 2pm est on @niftygateway! Amazing visuals by @antonitudisco. Top buyers will also receive an @infiniteobjects video print of the art too!! Woo!!! Get urs before they’re all gone!! 🙏https://t.co/8Jm23duSwt pic.twitter.com/GjbmcJs37z
— Steve Aoki (@steveaoki) March 7, 2021
Based on Steve Aoki’s experience, it is clear that artists such as actors, DJs, rappers, or anyone else within the creative industry can monetize their content or create new content directly through the usage of a blockchain platform.
This means that releasing their art in the form of an NFT is a lot more financially viable when compared to just relying on royalties gained from their other content.
Artists create NFTs to enlarge their community, directly engage with it on a deeper and more intimate level, grow their wealth, and have a higher level of control over how their art is created, distributed, and monetized.
On June 20, 2022, Cardano (ADA) was trading at a value of $0.4964.
PrivaCrip to Power a Blockchain Network That Could Follow Cardano & XRP
When the first decentralised blockchain was popularised in 2008 by Satoshi Nakamoto, the door was open for people across the globe to transact more securely and seamlessly. Many blockchain networks have been built and powered by native crypto tokens, including PrivaCrip (PRCR).
Native tokens exist for several reasons. Aside from acting as digital currencies, they perform various functions. Helping blockchains improve data traceability, security, transparency, and trustworthiness shared throughout the network. They also assist in reducing costs through their ever-evolving efficient methods.
Cardano (ADA) and Ripple (XRP) are among the best blockchain-based cryptos that this article will discuss. We will also look at how PrivaCrip (PRCR) will power a blockchain network set to launch into the crypto space.
Top Tier Crypto Makes its Mark – Cardano (ADA)
Cardano (ADA) has been around in the crypto space since 2017. The Proof-of-Stake (PoS), Ouroborous Cardano (ADA), was established using a research-based methodology.
Research is the backbone of Cardano (ADA) and is integral to its success in the cryptocurrency market. Cardano (ADA) uses an evidence-driven mechanism and peer-reviewed research to run its ecosystem to drive its evolution.
Among many things, Cardano (ADA) helps establish DeFi products and provides a suite of financial solutions. Crypto enthusiasts can stake Cardano (ADA) for a chance to earn rewards for their holdings.
With 2022 providing challenges in cryptocurrencies across the globe, Cardano (ADA) is one of the few cryptos to see a surge in on-chain trading volume this year. CoinMarketCap lists Cardano (ADA) as the 7th largest crypto by market capitalization at the time of writing.
Making Waves – Ripple (XRP)
Launched in 2012, Ripple (XRP) is a leading provider of crypto solutions for businesses. Ripple (XRP) provides developers with a solid open-source foundation for executing demanding projects. It is fast, energy-efficient, cost-effective, and reliable.
The solutions provided by Ripple (XRP) enable developers to solve inefficiencies, including asset tokenization and remittance. Therefore, individuals and businesses may apply Ripple (XRP) for DeFi, payments, tokenization, and more.
Crypto enthusiasts with a long-term focus may find Ripple (XRP) a valuable investing tool. Token holders can use Ripple (XRP) for staking its mainnet platform for a chance to grow their earnings and maximise profit.
The New Face Of Privacy – PrivaCrip (PRCR)
The soon-to-launch PrivaCrip (PRCR) is a cryptocurrency built for Web3 data privacy. It will allow users to develop and use permissionless and privacy-preserving applications. This unique feature of PrivaCrip (PRCR) secures apps, protects users, and fosters the creation of many new Web3 uses.
PrivaCrip (PRCR) will drive a blockchain that creates a more empowering and inclusive internet. It will enable developers to build secure dApps using private contracts based on original privacy research (OPR) to revolutionise Web3.
PrivaCrip (PRCR) will begin pre-sale soon and has an initial token price of 0.10 USD. According to the whitepaper, there will be a total supply of 190 million tokens, of which 40% of the total supply will go to the pre-sale.
Crypto enthusiasts who purchase PrivaCrip (PRCR) during the pre-sale will receive the most significant long-term rewards and bonuses. Those who buy with Bitcoin (BTC) will receive a 10% bonus. Also, those using Ethereum (ETH) to purchase will receive 15% of the total PrivaCrip (PRCR) they purchase as a bonus.
10% of PrivaCrip’s (PRCR) total supply is up for distribution as staking rewards, meaning that token holders who stake will receive rewards for their contribution to the crypto’s advancement.
Blockchain networks are continuously evolving, and so are the crypto tokens that power them. Cardano (ADA) and Ripple (XRP) have contributed tremendously to the success of their blockchain networks, gathering mass appeal.
PrivaCrip (PRCR), for its part, will drive a security-enabled blockchain and scalability in private DeFi, empower data tokenization, and bring together a fast-growing community. Acting on its promise, it has the potential to become the next big mover in cryptocurrency.
For more on PrivaCrip (PRCR), check below:
Cardano (ADA) Withdrawal Fees Waved by Bitrue Exchange
Singapore-based cryptocurrency exchange made Cardano one of its base trading pairs earlier this year
Singapore-based cryptocurrency exchange Bitrue announced that it had temporarily waived withdrawal fees for the Cardano (ADA) cryptocurrency.
The trading platform says that the move is meant to celebrate the support it received from the community behind the cryptocurrency.
Users will be able to withdraw ADA without paying any fees until mid-September.
Bitrue has stressed that it wants users to have “as much choice as possible” when it comes to custody options. Those who want to hold their ADA tokens will not be able to do so without paying an additional commission.
At the same time, Bitrue has touted its “Power Piggy” yield-farm investment program for those who want to earn passive income with ADA.
As reported by U.Today, Bitrue introduced the token as its base currency back in February.
In June 2021, it also became the first cryptocurrency trading platform to add support for Cardano-based native tokens.
Last month, Bitrue also announced a staking initiative with the ADA cryptocurrency. It decided to contribute a million tokens to some of the top Cardano staking pools in an effort to boost the level of decentralization.
Earlier this year, SundaeSwap (SUNDAE), the native token of the SundaeSwap exchange, also became available on Bitrue.
WingRiders Losses 59% Of Its Total Value Locked, Plunges Cardano TVL Below $100M
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
– Advertisement –