cryptonews

In the 2021/2022 season, cryptocurrency companies heightened the sponsorship revenue of the National Basketball Association (NBA) to a record $1.6 billion.

This disclosure came via a report from the Consumer News and Business Channel (CNBC) today, June 1, 2022.

The $1.6 billion sponsorship revenue of the NBA represents a 14.28% increase when compared to the $1.4 billion it earned in the previous season. In the 2018/2019 season, the NBA made $1.2 billion in sponsorship money.

The year-on-year increase in partnership revenue from crypto companies puts it as the second most lucrative sponsorship category for the NBA after the technology category.

Peter Laatz, the global managing director of the International Events Group (IEG), said:

The cryptocurrency category’s sponsorship sending spree is like nothing we have ever seen before.

The sponsorship agreements often include arena naming rights, company name or logo attachments on players’ jerseys, etc.

One of the NBA’s crypto deals this season includes a league agreement with Coinbase, a leading cryptocurrency exchange based in the United States. The deal is worth $192 million over four years.

The Los Angeles Lakers also signed a 20-year arena-naming rights contract with Crypto.com. The contract is worth $700 million. Likewise, the Golden State Warriors signed a $10 million global rights agreement with FTX, a crypto derivatives exchange. FTX also secured the arena naming rights for the Miami Heat on April 7, 2022.

Other categories estimated to pay the NBA over $100 million annually include banks, telecom, and merchandise.

EGO.com, a Cardano-based NFT services provider with an iconic name, has been making rounds within the NFT space. This up-and-coming project with a promise to facilitate a “Digital Renaissance in art” is quickly gaining a “crypto gem” reputation in the current bear market.

EGO.com, a decentralized creative realm for artists and collectors, is quickly gaining the attention of retail and institutional investors within the Cardano ecosystem. Harnessing the power of Non-Fungible Token (NFT) technology, EGO.com has marketed itself as the key player in facilitating the NFT market transition from “JPEGs with bragging rights” to a “Digital Renaissance” in art.

The project has seen substantial investor interest, even within an otherwise squeamish market dominated by ‘bearish’ sentiment. EGO.com private sale, which has been running since May 25, has been attracting record numbers of investors who have been persuaded by the potential of EGO.com to radically reshape the trajectory of modern art with the help of NFTs. The private sale is still ongoing (until June 15), and some of our readers may be eligible. Please reach out to sales@ego.com.

EGO.com has also secured a strategic partnership with ADAX, a Cardano-based exchange, with an EGO.com public sale scheduled to take place on ADAX on June 16, with a 24-hour priority round for ADAX stakers. Projections derived from early private sale data indicate substantial investor interest, signaling the likelihood of a massively oversubscribed first round.

About EGO.com

EGO.com is a fully decentralized creative realm built on the backbone of Plutus smart contracts. Led by a team of artists, art dealers, and DeFi professionals, EGO.com is harnessing the power of NFT technology to ensure that artists and collectors make the most of their digital assets. Artists can show off their prowess by minting NFTs of their artwork. Collectors can earn rewards from staking their Cardano-based NFT collections. Investors can hedge against short-term price fluctuations in style. Every step towards the ‘Digital Renaissance’ in art, EGO.com is there to provide professional, 360° degree support for all of your NFT needs.

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Disclaimer: Any information written in this press release does not constitute investment advice. CoinQuora does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release. CoinQuora is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.

The World Crypto Economic Forum be Celsius (WCEF) will take place online on June 2&3rd, and will gather over a hundred of speakers, entrepreneurs, crypto enthusiasts, and industry leaders for a discussion of the latest trends both in the business (Web3, DeFi, DAO, NFT, Meta, IDO, etc.) and technological worlds (everything blockchain).

Three years ago, we convened at a large-scale conference in San Francisco with Nick Szabo, Michael Arrington, and other influential members of the blockchain industry to create an event specifically for the crypo industry. We had over 1,000 guests come to listen to more than 100 speakers discuss the industry.

Since then, we have received numerous requests to consider hosting the WCEF again. This year, we were actually blessed enough to bring the team back together for another event.

As we are adapting to this new reality and the needs of our partners, we decided to move our event online. This way, we will be able to give more people access to our program and, at the same time, cut the costs and free our sponsors from spending hefty budgets in such market conditions. 

All the speakers, including Michael Arrington (TechCrunch) and Dr. Chandra Duggirala (Portal) that were previously announced move with us to online format and will participate in the event. A number of notable entrepreneurs and blockchain professionals are also expected to attend, such as Vinny Lingham (Waitroom/Civic Technologies), Jonathan Nelson (HF.Capital), Nathalie Kara (Propy), Lori Corpuz (@ NFT OASIS), Miko Matsumura (Gumi Cryptos Capital), Greg Osuri (Akash Network), William Bear (Nearverse) and others.

The online WCEF by Celsius will also include networking sessions and Q&A sessions with top executives. We’ll also provide the recordings to our guests, so they can access them after the event.

Get your ticket for the online event here: https://hopin.com/events/wcef2022/registration 

Disclaimer: Any information written in this press release does not constitute investment advice. CoinQuora does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release. CoinQuora is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release.

Cardano (ADA) is down by 7.13% in the last 24 hours, according to crypto market tracker CoinMarketCap.

Currently, the price of ADA is $0.6049. This ranks the coin sixth on CoinMarketCap’s list of the biggest crypto projects by market cap – below Binance Coin (BNB) and above Ripple (XRP).

This slight pull back in ADA’s price on the last day follows after the coin rallied by more than 20% the day prior.

The price movement of ADA recently is a repetitive trend seen in the coin’s history in moments of a build-up to hard fork events. There have been three such moments in the coin’s history, and it looks like the upcoming Vasil hard fork event may have a similar effect on ADA’s price.

However, one thing to note is that the previous three hard fork events were during a bull market, whereas the current upcoming hard fork will take place in a downtrend. This may mean that instead of entering into a bullish rally, which is what the price of ADA has done in the previous three hard fork events, we could see ADA establish a solid price bottom to launch off of.

On the daily chart, the price of ADA has risen above the 20 Moving Average (MA) line and attempted to test the 50 MA line. The 50 MA attempt was met with a slight pull back in price.

However, a retracement at this time may be healthy if the price of ADA can stay above the 20 MA line – allowing ADA to establish a solid foundation to launch off from as the Vasil hard fork approaches. Investors should be cautious as the price of ADA may fall back down to the $0.52 level before rising again.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Meta Apes, a free-to-play and play-to-earn MMO strategy game, declared that it is the first game to go live on the BNB Application Sidechain (BAS). Meta Apes is now accessible for Android devices on Google Play. Also, the platform will launch its iOS app soon.

In detail, Meta Apes is set in a post-apocalyptic world, where there is no humanity, and the new era is under the rule of the Apes. Next on the game agenda is space domination. Here, each player will have to work closely with their Gang to become the strongest Clan and win the ultimate race to space.

Speaking about the game, Taylor Shim, business lead at Meta Apes, remarked that the game originated from the idea of creating a community-oriented game that offers audiences something valuable. Significantly, this includes an opportunity for traditional gamers to earn and truly own their in-game assets and a much more interactive and enjoyable experience for blockchain gamers who are primarily looking to earn.

Taylor Shim also opined about the Meta Apes going live on BAS:

Building on an application-focused sidechain helps us avoid a lot of the common issues seen in blockchain gaming like network congestion and giving us a lot more flexibility in terms of the game design & tokenomics.

Meta Apes has established its roots in Web2 and Web3 realms, using Ankr’s gaming software development kit (SDK). The gaming platform has combined fun games that players love in Web2 with the incentives and monetization mechanisms of Web3. More so, Meta Apes has lifted the ante in blockchain gaming by deploying full Web3 capabilities, intuitive game mechanics, and enhanced scalability.

Meanwhile, Ankr, the platform that helped build the BAS, enables developers to create and operate their blockchain working parallel to the BNB Chain mainnet. Furthermore, using dedicated sidechains, apps, and games like Meta Apes will have higher throughput and extremely low transaction fees.

Moreover, Ankr’s new Web3 Gaming SDK unfolds game studios and developers everything they need to create Web3 games like Meta Apes. It also provides features ranging from best-in-class Web3 infrastructure to NFTs, marketplaces, and multi-chain wallet integrations.

Ryoshi, the anonymous creator of Shiba Inu, returned to the Internet on Monday after a year’s absence, only to delete all of its social media activity and vanish again, leaving only a brief message: “I am not important, and one day I will be gone without notice. Take the SHIBA and journey upwards, frens.”

This revelation puts traders on edge as they wonder if now is the ideal moment to buy or if something else is happening within the memecoin itself that would trigger further losses, even though the pseudonymous founder stated repeatedly that he had no intention of sticking on permanently.

The price of Shiba Inu went from $0.0000114 to $0.0000143 between May 12 and 13. Immediately following a sell-off, this rally retested the $0.0000106 support level.

Fundamental analysis fills in the blanks left by technical analysis. For now, the Shiba Inu developers appear to be focused on improving and expanding the ecosystem with new features like SHIB: The Metaverse. There don’t seem to be any problems with the memecoin at this moment.

However, even though Shiba Inu appears unaffected by Ryoshi’s departure, experts warn that Shiba Inu is not yet out of the woods. There are still numerous dangers around this coin that might make it the next Luna.

According to them, Shiba Inu and Luna are nearly in the same rank. They are ventures that lack a solid product foundation. They lack genuine use cases, and that could be a great obstacle facing the world’s second largest memecoin.

Shiba Inu has been down for the past couple of hours. The memecoin is worth $0.00001169 at the time of writing, according to data from Coingecko.

Ryoshi mysteriously erased all of his prior tweets and Shiba Inu blogs a year after going missing from SHIB. The link to SHIB has been removed from the Medium platform for all of SHIB’s four blogs.

All of Ryoshi’s previous blogs have been removed a year after they were written on May 30, 2021. And Ryoshi hasn’t posted much since he quit tweeting altogether in May of last year.

Twitter handle @RyoshiResearch is regarded as the person or group of persons behind Shiba Inu, the second most popular memecoin in the cryptocurrency world. He may be preparing to return.

His Twitter profile photo has been updated to include a picture of Buddhist Jetsun Milarepa, who was a well-known Tibetan poet and yogi. In the meantime, Ryoshi updated the header image of his account to feature a picture of a cloud and a half moon.

In conjunction with this, Ryoshi has erased his bio from his Twitter account. It was stated before that: “SHIB and LEASH Founder. We do it for the people.”

Additionally, Ryoshi has been quoted as saying, “I am not important, and one day I will be gone without notice. Take the SHIBA and journey upwards frens.”

The price of SHIB has not been impacted by the news in any significant way, in spite of the fact that it has been going down in price over the past few hours; one might say the same thing about the overall market. The price of SHIB is $0.0000117 at press time.

As of right now, no official accounts linked with the memecoin have released any information, and although the community is going wild with speculations, no official statement has been made.