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Emirates launches Metaverse and NFT

Emirates launches Metaverse and NFT

created Simon petersApril 19 2022

Both bitcoin and ethereum are struggling at the moment after weakening significantly last week. Bitcoin saw a price swing last week, hitting a level above Thursday on Thursday $ 41before it fell below $ 38 on eToro platform on Monday. Right now it is back just above the $ 40 mark. Ethereum also saw an increase on Thursday to a level above 3100 dollarsbefore the lightning meltdown brought it close to $ 2900. Today, however, it rebounded to just above $ 3000.

The fluctuating prices of both crypto assets illustrate the current tough market for crypto investors as they watch risk assets plagued by current events - something that has traditionally not been such a problem.

But the cascade of post-pandemic events, including rising prices and interest rates, geopolitical problems and other problems around the world, is driving investors towards "real" assets such as commodities, including gold and others.

Cryptocurrencies have to work hard in this environment, but for now it seems to be holding on tight. The market will watch to see if price and rate expectations start to wane and expect a release from tensions in Eastern Europe. The former seems possible at the moment, but the latter is still very distant.

The Ethereum Foundation owns 19 percent. non-cryptographic assets

The Ethereum Foundation, which manages the financing of Ethereum's blockchain development, announced its latest packages, which currently cover 19 percent. non-cryptographic assets.

It currently holds around $ 302 million in non-cryptocurrency assets and investments, which it claims helps provide a greater margin of safety against downturns in the cryptocurrency market. When it comes to cryptocurrency resources, over 99 percent. located in Ethereum.

Although it is worth noting that one of the most important organizations in the development of the second largest blockchaina in the world has large amounts of non-cryptographic assets, this is not a big surprise. The Foundation has not disclosed what these non-crypto assets are, but it is likely to be a fiat currency.

The reality is that normal users and investors, even major crypto foundations, still need to be able to connect to both traditional and crypto financial infrastructure, which makes pooling a portfolio essential. It also shows good risk management by diversifying your asset base - something all investors must keep in mind with any major asset class.

Given the delayed merger and markets looking soft, the decision to hold some of the different assets seems wise. Ethereum is on the path to a new era, but there will no doubt be bumps on that path. Diversification in this context just makes sense.

Emirates launches Metaverse and NFT

Major airlines of the United Arab Emirates, Emirates, announced that they plan to implement solutions NFT and Metaverse for their employees and customers.

As with many of the already announced Metaverse and NFT projects, the details of what Emirates intends to do with its own offering are unknown. However, as an airline, you can imagine that the NFT could be used as part of your loyalty program, while the Metaverse experiences would be a good way to diversify your time onboard your flight to Dubai.

The constant stream of big companies announcing such projects shows us that technology is constantly evolving. The NFT market has suffered from significant weakness over the past few months, but in reality we are in a development phase where the initial hype has subsided and companies are busy working on making tangible products.

As for the metaverse, we're in a similar position where many projects are busy expanding their offering, but the scene is a bit subdued. From the eToro platform data, however, we know that investors are very interested in tokens related to the development of the metaverse, including crypto assets such as MANA, SAND or ENJ.

Pay for cinema in dogecoin

Cinema fans can now pay for tickets in AMC cinemas coins dogecoin and/ or Shiba Inu. The company announced last November that it was looking for ways to accept cryptocurrencies as payments, which has now become a reality with its app using Bitpay when making payments.

This is an exciting development for both tokens, which have had different levels over the past few months. While this development is unlikely to change the situation significantly, it reflects the increasing integration of cryptocurrencies into major financial infrastructure.

Cryptocurrency owners are gaining access to more and more tools and services every day, and that ultimately only goes in one direction. It is unlikely that AMC will benefit much from the cryptocurrency inflow, which stands out as an advertising gimmick, but AMC is just one company in an ocean of possibilities.

The more tokens like dogecoin and shiba inu are accepted, the more it will deviate from fiat currency, which will ultimately be positive for cryptocurrencies.

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About the Author
Simon peters
eToro analyst. A graduate of the Faculty of Mechanical Engineering at Brunel University in London. He is CFA UK Level 4 certified in Investment Management.

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