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[June Week 4] PEN TALK

Today’s Topic

📌 Protocon-Klay Zodiac ‘Building NFT community’ MOU

📌 ‘Crypto Twitter’ world of Elon Musk

📌 Is the Cryptocurrency party finally over…?

Protocon-Klay Zodiac ‘Building NFT community’ MOU

Image Credit: Korea Economic Daily

News about Protocon’s new partnership!

Continuing with the MOU with Open Meta operating the metaverse real estate platform OpenMetaCity, Protocon has signed a strategic partnership with NFT project ‘Klay Zodiac’ for building an NFT community last week.

Both projects are going to cooperate in establishing domestic and foreign cooperation networks, expanding the ecosystem of each project, and supporting marketing and public relations.

Klay Zodiac, an NFT project based on Klaytn, is now in the limelight by adapting an evolutionary mechanism through NFT fusion. This mechanism is similar to other projects like CryptoKitties and Axie Infinity in its way of generating a new character through the interbreeding of characters, and this also means creating new value from the newly-generated character.

Klay Zodiac has mentioned that Protocon’s technology will significantly help in project expansion, and Protocon, which is developing a Mainnet and Minecraft-based blockchain game ‘Blockcity’, is also expecting a great synergy between them.

I hope this partnership will be a win-win situation for both projects!

Korea Economic Daily

‘Crypto Twitter’ world of Elon Musk

Image Credit: Twitter of Elon Musk

Twitter’s board of directors has recommended their stockholders to approve of selling Twitter to Elon Musk, CEO of Tesla, and his ‘Crypto Twitter’ world might come to reality. There is a high possibility of applying cryptocurrency in its service if Elon Musk, who has already mentioned crypto on Twitter several times, takes over Twitter.

As the news spread, Dogecoin (DOGE), which is Elon Musk’s favorite, is on the rise. On June 19th, Musk tweeted that he would continue to support Dogecoin and said that he would buy even more. This was also his first comment about cryptocurrency since being sued for $258 billion by investors for the pyramid investment scheme. Nevertheless, Elon Musk, the Dogefather is still expressing his affection for Dogecoin.

Although everything is still unknown whether Elon Musk is going to take over Twitter or not and what kind of cryptocurrency service is going to be applied, Dogecoin holders are looking forward to Dogecoin being the payment method of Twitter.

Twitter says it will put the company’s sale to a shareholder vote at the end of next month.

News1

Is the cryptocurrency party finally over…?

Image Credit: CoinMarketCap

The cryptocurrency market is still continuing to fall further and further. Investors who had previously been flocking to real estate and stocks due to inflation, rising interest rates, and economic downturn are now leaving one-by-one, declaring a “stop-loss” to prevent further losses.

According to CoinMarketCap, the market cap of cryptocurrencies as of June 22nd was $913,620,025,532 (about 1,191 trillion Korean Won), representing a decrease of about 70% compared to last November, where the market cap reached an all-time high of $2,904,441,786,523 (about 3,826 trillion Korean Won). Looking at the market cap graph, it can even be said that the cryptocurrency market is returning to its earlier state prior to revival.

Industry experts predict that only the cryptocurrencies that have the “payment and settlement” function, the original function of Bitcoin, will remain after this cryptocurrency recession. It appears that it will likely take a considerable amount of time for the cryptocurrency market to make it through winter and spring, and we might have to see if only a ‘few useful cryptocurrencies’ will survive as many predict.

JoongAng Ilbo

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