Virtual Tickets, NFT Rewards Programs, Luxury Services, and the Current Market
NFTs holders invested $25 billion in 2021, an enormous improvement over the previous year, when there were only $94.9 million worth of investments. This week, the share prices of cryptocurrency miners increased 9.6%, as bitcoin demonstrated signs of a sustained rebound by crossing the $21,000 barrier. According to Jaran Mellerud, a researcher at Oslo, Norway-based Arcane Research, investors were probably unsure as to how public miners would respond to the bear market. However, they now feel more confidence as the price of the largest cryptocurrency by market cap has stabilized. Digihost Technology, TeraWulf, and Marathon Digital, were in first place, increasing by 26.6%, 18.94%, and 17.62% from Wednesday’s open to Thursday’s close, respectively. TeraWulf’s performance coincided with the company’s announcement on Tuesday that it had increased a $123.5 million loan with Wilmington Trust by $50 million in order to support further expansion. At the time of publication, Bitcoin was up 3.20% per share, to $21,700.10; Ethereum was up 0.59% to $1,222.23; and Solana was up 0.68% to $38.44 per share.
The price of Roblox, one of Web3’s first Metaverse platforms, stock has increased by 25% in the past month, rising by 14% on Tuesday, despite a general market decline, and continued climbing as the week progressed. One of the most popular tickers on the Yahoo Finance site has been the Metaverse gaming play. Bernie McTernan, a Needham Analyst, stated, “It’s not a significant monthly expense for a household because monthly active users of Roblox pay roughly $20 per month for the site.” McTernan is also interested in how Roblox can more effectively monetize its user base through expanded in-game advertising and marketplace sales. Additionally, he doesn’t anticipate that Roblox would suffer from a U.S. recession.
LiveNation has introduced digital commemorative tickets. The tickets are special digital collectibles that come free of charge when you buy concert tickets. Each one is personalized with the specifics of the purchased seat, including artwork from the tour, and is simple to distribute. Tickets for commemorative events are eco-friendly…each one requires less processing power to create than the typical web search or social media post. One free virtual commemorative ticket, a special digital souvenir that is your very own piece of musical history, is included with each qualified ticket (with the exception of verified resale tickets). Share virtual commemorative tickets with friends by accumulating them for favorite performances. Tickets may be kept as a keepsake, shared on social media, given to a friend, or sold to another fan. Commemorative tickets may be accessed through one’s LiveNation account.
Elon Musk arrived Thursday night at Allen & Co.’s Sun Valley Conference, joining the media and technology elite at the mountain hideaway. Musk is scheduled to address the audience on Saturday. It is unclear if he will discuss the conflict surrounding his $44 billion acquisition of Twitter Inc. The billionaire CEO of Tesla Inc. and SpaceX has questioned whether Twitter is fairly reporting the number of spam bots using the service, casting doubt on the agreement. Twitter has frequently stated that less than 5% of its user base is made up of spam bots, and also stated it will keep Musk to his word.
One of the Federal Reserve’s top officials made it quite obvious that the institution, which doubles as a formidable financial watchdog, is paying close attention to the problems emerging as the crypto sector falters. Fed Vice Chairwoman Lael Brainard gave a laundry list of flaws in the digital assets industry in a speech in London on Friday, claiming that “recent volatility has highlighted severe weaknesses in the crypto financial system.” Brainard has been in charge of the Fed’s work on a future digital dollar and has been keeping an eye on conversations over crypto policy. The Fed has been “closely following recent developments where systemic risks have crystallized and many cryptocurrency investors have experienced losses, and strong regulatory safeguards will help enable investors and developers to establish a durable digital native financial infrastructure,” Brainard stated.
The vice chairwoman argues that the drawbacks of cryptocurrency are essentially the same as those of conventional finance, and the industry must adhere to the same safety requirements before it grows to a size that poses a danger to the rest of the financial system. “ We have observed that crypto trading platforms and crypto lending companies combine activities that must be kept apart in traditional financial markets, for instance, some platforms combine market infrastructure and client facilitation with risk-taking businesses like asset creation, proprietary trading, venture capital, and lending, without corresponding regulatory compliance.” The Fed and other regulators have taken notice of TerraUSD’s collapse, which Brainard compared to previous financial runs. All of this, she asserted, supports the notion that an American central bank digital currency “may be an advantage for future financial stability.” A government token of this nature might have significant effects on the private stablecoin market.
Key figures in the Solana ecosystem are accused of illegally benefitting off SOL, the blockchain’s native token, which the lawsuit claims is an unregistered security, in a prospective class-action lawsuit that was filed in a federal court in California last week. The Solana Foundation, Solana Labs, and [Anatoly] Yakovenko’s administration and development of the Solana blockchain, combined, are described as the “cornerstone of the value of SOL stocks” in the lawsuit. In their analysis, SOL was characterized as a highly centralized cryptocurrency that favored its insiders at the expense of regular traders.
The lawsuit is being brought by California citizen Mark Young, who claims to have purchased SOL in late summer 2021. Young claims in the complaint that the creation and sale of SOL satisfy the three criteria set forth in the Howey Test, a decision by the U.S. Supreme Court that is frequently used as a gauge to determine whether a transaction constitutes the sale of a security or not. Young noted a number of SOL token sales, or agreements to sell SOL tokens, in the filing that occurred before the token’s initial public offering.
The travel sector is beginning to embrace digital assets as they gain popularity. Businesses are increasingly attempting to draw cryptocurrency investors from all over the world, and the number of travelers paying with cryptocurrencies is growing. It has now become time for NFTs to familiarize themselves with the tourism industry. As part of a forward-thinking business strategy aiming to combine convenience and innovation hospitality spaces, and equipped to innovate the current hotel loyalty programs, Atlanta-based EV Hotel, the first cryptocurrency and tech hotel brand, announced recently that the brand is creating an exclusive NFT membership for its clients. EV Hotel is the first hotel with an NFT rewards program.
The business aims to innovate the hotel sector through digitalization. The EV Hotel’s technology is improving guest experiences and simplifying business operations and each of its locations will lighten the load on task-heavy hospitality systems and encourage a greater focus on customer service and visitor engagement with technology and cryptocurrency. NFT owners and enthusiasts will have access to a location where they may fully immerse themselves in outstanding services, technologies, cryptocurrencies, and NFT-based experiences in both the real world and the Metaverse.
In Web0 (the real world), luxury hospitality company, The Luxe Week, aims to give visitors unmatched luxury experiences with like-minded people and to make lifelong memories. For millennial travelers, The Luxè Week offers a luxurious vacation experience that includes 100 guests, 10 villas, and 1 week in breathtaking locations. In just seven days, a Luxè Week trip allows one to interact with people from all over the world, stay in amazing villas, and see the top attractions in each location.
Bringing travelers together by building a community of individuals who merely want to live life to the fullest is a goal of The Luxe Week. Not everyone enjoys organizing a trip…it takes a lot of time to read travel blogs, look for the best neighborhood in which to stay, and decide on what excursions to explore. The Luxe Week charters private yachts, hosts VIP parties, and arranges excursions, including snorkeling and surfing lessons. In order to ensure visitors’ safety, Luxe Week provides villa security for every villa. Additionally, the luxury hospitality company offers customized services, including international DJs, photographers, surf instruction, and chauffeurs.
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.