Quote of the week:
“I think it [cryptocurrencies] could have some real upside. My sense is there are more buyers than sellers. It’s an asset class that I think is durable.” – Rick Rieder, BlackRock’s chief investment officer of global fixed income
Mass Adoption Continues: Google: This past week, the giant search engine Google partnered with NFT leader Dapper Labs. Google Cloud stated it will serve as a network operator for Dapper Lab’s Flow blockchain. This partnership was created to support blockchain development in an ecosystem of NFTs, games, and applications. Source: https://cointelegraph.com/news/google-partners-with-nft-leader-dapper-labs-to-support-flow-blockchain
Altcoin Update: Polkadot (DOT): Polkadot is a blockchain network that supports many interconnected parachains. Over the past 56 days, Polkadot has rallied by 256%. Over the past 30 days, Polkadot’s $39 billion market capitalization has outperformed Ethereum by 66%. Even after its incredible rally, many bulls see Polkadot hitting a new all-time high in the short-term future.
U.S. Mass Adoption Across Industries: Real Estate: Magnum Real Estate Group is accepting Bitcoin as a payment option for the sale of Gramercy Park Retail at 385 First Avenue in New York City. The building is worth approximately $29 million. Many real estate firms have seen the value of cryptocurrencies and have started to accept them as a payment. For example, WeWork has accepted cryptocurrencies for workspace use and KPG Funds have let its office tenants use cryptocurrency for rent. Source:
International Regulation: Cuba: On Wednesday, September 15, cryptocurrency became a legal method of payment for commercial transactions and investments in Cuba. Resolution 215 of 2021 was issued by the central bank of Cuba, which recognized cryptocurrencies, including Bitcoin, as a legal form of payment.
NFTs Potential: Benefiting Charities: NFTs have come to the forefront of our cryptocurrency and blockchain vocabulary this past year; although it’s just the start, its potential is limitless. NFTs offer content owners and creators the ability to monetize their creations. Recently, though, NFTs have proven their ability to benefit philanthropic organizations and raise funds for charitable causes. NFTs offer more than just monetary donations, and many are realizing their potential. This past week, Tito Rodriguez took a philanthropic stand and began to raise money for charity through the NFT drop of the Snoop Dogg RIAA Certified Platinum Plaque. Source:
And, that’s a wrap!