‘Talking’ NFTs, Current Market Trends, & a Festival in Cannes
The Current Market
In a cautious effort to recover from last week’s plunge, the majority of the top 10 cryptocurrencies by market capitalization, followed Bitcoin and Ether upward towards recovery, on Thursday afternoon in Asia. According to data from CoinMarketCap, Bitcoin increased 1.97% over the previous day to trade at US$21,742.28 as of 4 PM in Hong Kong, while Ethereum increased 4.87% to US$1,706.91. The majority of the top 10 cryptocurrencies saw gains; XRP increased by 1.79%, and Solana increased by 3.88%. Dogecoin gained 2.56%, while Cardano increased by 2.62%. However, over the past seven days, all of these tokens have been in the red. The largest gainer of the day in Asia was Ethereum Classic, which increased 11.46% to US$37.09, still falling short of the token’s all-time high set a month ago of US$45.51.
On Friday at 10 AM Eastern time (10 PM Hong Kong), U.S. Federal Reserve Chairman Jerome Powell delivered the keynote address at the Fed’s annual economic symposium in Jackson Hole, Wyoming. Investors in all markets are keeping an eye out for any clues about how the Fed perceives the rate of inflation and what that might signal for the future of U.S. interest rates. Wei Zhou, CEO of Philippine-based e-wallet business Coins.ph, said in an interview with Forkast that “global assets have been struck across the board, not just crypto, but stocks and real estate. But I do believe that ultimately the ETH story, or the true Web3 narrative in terms of user growth, will prevail.”
According to a recent poll from the educational platform study.com, over 60% of parents in the United States want their children to begin taking cryptocurrency programs as soon as they graduate from high school. The educational platform combined the information from 210 college graduates and 884 American parents who took part in the research. People who have a deep understanding of the bitcoin market made up the participants. When asked if cryptocurrency should be taught in schools, 64% of parents said yes. 68% of parents had cryptocurrency investments, and on average, they had generated $766 in profit from their investments, which they used to pay for their youngsters’ education.
When asked when the ideal moment to begin crypto instruction was, 24% of the parents responded that it was ideal to begin in high school. 67% of college students who took part in the study admitted that they had made cryptocurrency investments and had used the proceeds to pay an average of $1,086 toward their education. The results of an Investopedia study are consistent with the rising student interest in cryptocurrencies. It was discovered that 1 in 5 college students invested their student loan funds in cryptocurrencies rather than using them for living expenses. Union Catholic High School began educating its students about cryptocurrencies as early as 2018. The history of cryptography and blockchain technology were the main topics of the class. But many prestigious U.S. institutions have already incorporated blockchain and cryptocurrencies into their curricula. MIT, Oxford University, and Harvard University are at the top of the list.
The Future Market & NFTs
According to Edward Moya, senior market analyst at foreign exchange Oanda, the crypto winter might finally be coming to an end. Despite recent negative market headlines, some cryptocurrency investors are starting to purchase more bitcoin (BTC) and other cryptocurrencies. “More of the holder money is, in my opinion, beginning to increase their exposure and add to their positions, as you can see. The crypto winter may have ended, he suggested during “All about Bitcoin.” He responded following last week’s market collapse, which shattered expectations of a quick recovery in the price of bitcoin, following the market meltdown earlier this year.
In a report released on Monday, analysts at the cryptocurrency research firm Delphi Digital said that if bitcoin follows the pattern of other historical price cycles, it may drop as low as $10,000 before eventually rising. The crucial question, according to Moya, is if bitcoin “continues to show” that it won’t amplify stock market losses during risk-aversion days. According to Moya, the future of cryptocurrency may still be “choppy” for a while. However, “we might see the momentum really come into place and propel crypto far higher” if interest in taking on more risk for bitcoin increases.
A number of NFTs, including CryptoPunk #2821, Mutant Ape #10144, World of Women #7147, and #7730, as well as collections from new NFT projects, were acquired by major podcast publisher iHeartMedia in April. In a later interview, Byrne said, “We started to discover a lot of these are character-based NFTs and we quickly saw that this was content that media firms could use to generate real revenue and reach audiences in novel ways.” The business established the Non-Fun Squad, the first-ever NFT-based media franchise, and a podcast slate based on the themes of previous Web3 products, in an effort to find “new uses for the characters,” according to Byrne. Subsequently, iHeartMedia hired writers to create the characters’ backstories, and podcast producers and voice actors to give them life. “We had an established IP and no prior history. It had no writing on it.” The result is Prop Culture, a “weekly Hangout podcast” that was released in June and makes use of the characters from the NFT collections by giving them “voices” to comment on a variety of subjects, including TV, music, cryptocurrency, current affairs, and pop culture.
It’s simple to think of methods to “grow non-traditional personalities into traditional media goods,” he says. A lifestyle media company, for instance, may use World of Women NFTs to convey pertinent content in an engaging manner. Alternately, a streaming service may use collections to create edgy entertainment. Finding the right fit and then sharing the advantages with the community are the key factors. A media firm can and should follow it as a guide if they don’t want to lose “the possibility to develop a permanent blockchain-enabled link with the consumer,” according to Byne.
The Merge
The exact specifications for the long-awaited Merge blockchain update to a proof-of-stake consensus mechanism were made public by the Ethereum Foundation on Wednesday. Proof-of-stake is a technique for preserving a blockchain’s integrity that prevents cryptocurrency users from minting coins they haven’t earned. It is thought to use less energy than Ethereum’s current proof-of-work structure. On September 6, the Bellatrix upgrade will go into effect on the Beacon Chain. The remaining steps in the Merge process were launched by this upgrade.
Luxury Hospitality & Yachting
The annual Cannes Yachting Festival will also take place on September 6; in 2022, it will be held in the Vieux Port and Port Canto. This year, the most prominent French and international shipyards have recently released around 650 new boats for experts and fans to explore. The Festival’s gates will be open for six days starting on Tuesday, September 6. All will be able to admire the most exquisite marine treasures, cutting-edge maritime gear, and top-tier services on exhibit.
Superyachts are now considered to be a destination in and of themselves. Superyachts are more expensive than residential real estate investments, private jets, fine jewelry, and pricey artifacts, as far as ultra-wealthy possessions go. The yachting industry saw one of its most prosperous years in 2021, with record-breaking yacht sales and an unheard-of rise in demand for yacht investments. Owners of yachts discovered that a superyacht is most suited for offering an exclusive refuge- a private, safe, and nurturing environment, as well as magnificent backdrops and service that is unmatched. As a result, owners of yachts have been reluctant to sell them, which has caused the asking price for superyachts to significantly rise.
Millennials are increasingly choosing to charter superyachts rather than buy them, and this trend is on the rise. Yacht charters might experience a speedier recovery than other tourist destinations if the trend toward private vacations is to continue. In the upcoming months, yacht charters will become more appealing and secure, as you have more control over your surroundings. Contrarily, it has also been amply demonstrated that the value of owning and using luxury brands has to do with one’s capacity for self-extension; chartering a superyacht provides a wonderful mental retreat.
Lazy 8ight Yacht Club
Not to be confined by Web0, or Web3, Lazy 8ight Yacht Club (L8YC), aims to bridge the gap between luxury hospitality and blockchain technology through the integration of NFTs, yacht chartering options, and luxury hospitality services. Lazy 8ight community members not only benefit via discounts on luxury services, but from passive rewards, too. Because of their ties with businesses in the real world, L8YC is able to offer its members considerable savings on its tailored events. The luxury hospitality and NFT company organizes events for NFT communities, Web2 companies, influencers, and individuals, worldwide. Each event is personalized to meet the specific needs of L8YC clients, whether through its 5 Star Michelin rated catering services, yacht and villa events, helicopter tours, security services, or celebrity appearances. The world’s first yacht chartering service on the blockchain set sail on June 11th, 2022, with an unprecedented 50% of profits being distributed to L8YC NFT holders. Until now, yachting has only been accessible to an elite few. With a L8YC membership, their 8,888 holders can enjoy exclusive discounts to the world’s most luxurious style of vacationing.
Be sure to visit Lazy 8ight Yacht Club on their website at http://www.l8yachtclub.com for minting information and available luxury services, or on social media via Twitter, Discord, Instagram, and Medium.
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