Madonna Loses Metaverse Virginity

Google has co-opted the word “Non-fungible” to use as an environmental statement with its trademark application for “non-fungible planet.” Can you smell the irony?

Earlier this week, Terra blockchain announced it had purchased $125 million in bitcoin. Subsequently, BTC’s value rose to over $44,000. If we learned anything from Elon Musk’s pumping of Dogecoin, it should be this: If it’s popular and a celebrity (whether a person on two legs or an entity with a rep) takes an interest, the crypto asset’s value will likely rise. Bitcoin is the king of cryptocurrencies. If another blockchain the size of Terra (#9 in market cap rankings) buys it, the price will go up. Even if the news is nothing but a rumor. Basic economics.

Material Girl Madonna has acquired a Bored Ape for more than half a million dollas. Like a metaverse virgin, she wants to know what to name her new NFT. Meanwhile, the Ukraine supports its military by selling NFTs. And two Frosties masterminds have been arrested over a $1.1 million NFT rug pull. Papa don’t preach! Music makes the people come together.

Meta is threatening to shut down Facebook and Instagram in Europe, but political leaders say life would be better without it. Personally, if they did shut down two of the largest social media platforms in the world, that would be a good thing for cryptosocial media and decentralized social platforms. We’d likely see massive growth in alternatives.

Mark Zuckerberg discusses his vision for the metaverse, but is it safe? Grimes, the Canadian musical sensation (is there such a thing?) is introducing a children’s metaverse book.

Thinking about buying bitcoin at an ATM? Here’s what you need to know.

Interest in crypto is going through the roof. Americans under age 50 are bullish on cryptocurrencies, long-term. Still, most people who have heard of cryptocurrency see it as high-risk.

Is the decentralized web here to stay?

As regular readers of Cryptocracy know, I’m big on the growing ecosystem of cryptosocial media. That’s why I don’t mind recommending the best platforms that pay users in crypto for posting to them. Hackernoon recently published my article 6 Social Platforms To Help You Connect With Other Crypto Degens (then they asked me a few questions and I had the gall bladder to answer them.) But I got to thinking … are there moral considerations regarding cryptosocial? And what if Facebook paid its users in crypto? How many Facebook millionaires would there be?

Ampleforth is building a decentralized stablecoin.

How to tell if your token is a security using the Howey test.

One crypto hacker has decided he’d like to donate his worthless millions to charity. Geez, talking about generosity.

The Foundation for Interwallet Operability (I didn’t know there was such a thing) has completed its integration with Opera’s Android browser. Where are the donuts?

Thailand has banned digital currency payments.

Snark and commentary in italics. What did you expect?

Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.

First published at Cryptocracy. Not to be construed as financial advice.

Image Source: Getty Images via Bloomberg Wealth