Monday Movers 03

Luxury e-tailer FarFetch accepts crypto payments, while Elon Musk's mention of DOGE on SNL causes price to plummet.

Highlights from the weekend:

  • Dogecoin plummets by 90% after Elon Musk appearance on SNL
  • Luxury e-tailer Farfetch is set to start accepting crypto payments
  • Seth Green retrieves stolen Bored Ape Yacht Club NFT by cashing out $26,000 as a ransom
  • Tatsumeeko, the massive multiplayer online role-playing game (MMORPG) - raises $7.5 million in a seed round
  • SHIB experiences a 44.44% increase in active whale addresses

Words of Wisdom:

"The future of money is digital currency."

- Bill Gates
“If you like gold, there are many reasons you should like Bitcoin.”

- Cameron Winklevoss
"Online identity and reputation will be decentralized. We will own the data that belongs to us."

- William Mougayar

Finblox Performers:

The Scoop:

Farfetch, founded in 2015 - provides a suite of commerce solutions and retail technology for luxury retailers and brands. The British-Portuguese online, fashion, and retail platform sells products from 700 boutiques worldwide. Big names in luxe fashion such as Balenciaga and Gucci have already accepted payments in the form of crypto, and FarFetch doesn't want to be left behind.

“As a platform company, we are continually innovating to serve as the bridge for the luxury industry to new technologies and environments where the luxury customer is today, and where they’ll be tomorrow."

José Neves, Founder of Farfetch

They'll begin by accepting seven cryptocurrencies, but most prominent among them are Bitcoin, Binance Coin, and Ethereum. José Neves, the founder of Farfetch - also added that the integration of crypto payments will serve as testing grounds for them to see what works and what doesn't. A partnership with the German crypto payment gateway Lunu is also underway, so that Lunu can serve as the point-of-sale terminal for in-store payments.

Elon Musk, founder of SpaceX and the CEO of Tesla - appeared on Saturday Night Live on May 8th. The Forbes billionaire jokingly explained the meaning of Doge coin to the hosts and audience, but little did he know that it would dip during the broadcast. DOGE slid by 21% despite Elon mentioning that it was his favorite cryptocurrency.

Doge Elon Musk cryptocurrency SNL Dogecoin
Who let the Doge out? Elon did.

Investors were selling during the show, and DOGE even reached 69 cents at one point - plunging further to 56 cents as soon as the show ended. Musk poked too much fun at Dogecoin, which may have been cause for concern for some investors. He later moved to Twitter, asking investors to proceed with caution when investing - especially after he noticed the dip his words had caused. Musk reiterated his belief that people shouldn't invest their entire life savings in cryptocurrency, and that everyone should stay mindful while investing.

Tatsumeeko, the Web3 incarnation of the Discord-hosted massive multiplayer online roleplaying game - recently raised $7.5 million in a seed round. They aim to incorporate NFTs that can authenticate digital assets to enable a new business model for the game using blockchain technology. DeFiance Capital, Delphi Ventures, and Bitkraft Ventures led the seed round, which included investors from Binance Labs, Animoca Brands, and more.

Tatsumeeko Web3 Discord David Lim Bitkraft Ventures
All systems go with Tatsumeeko.

The potential of the game was first spotted in 2015, when Tatsumeeko realized that it could build a cross-platform gaming ecosystem that'll evolve from Discord into other online social platforms. The team aims to continuously develop its game with support from gaming VCs and partners, while sharing their vision of a play-and-earn fantasy MMORPG that exists on both mobile and Discord.

"Family Guy" star Seth Green paid a massive sum to reclaim his rightful title as the owner of his stolen Bored Ape Yacht Club NFTs. Four of his NFTs, worth over 300K - were stolen last month, including Bored Ape #8398. This NFT was invaluable to him since it was intended to be the star of his upcoming TB show "White Horse Tavern." The transaction took place with NFT collector "Mr. Cheese" and "DarkWing84," through crypto escrow platform NFT Trader.

The collectors claimed that they bought the NFT without any strings attached, and happily resold it again to Green after he was scammed. OpenSea, the largest NFT marketplace - filed a report for Bored Ape #8398, and froze the NFT so that no one could buy or sell it. This was the main reason why Seth decided to consult the aforementioned Twitter users through NFT Trader.

Shiba Inu’s utility recently spiked among whales, and WhaleStats reported that SHIB ranks as one of the most-used smart contracts. The recent analysis claimed that there was a 44.44% spike in active addresses as whales interacted with billions of SHIB.

Shiba Inu is powering the world's first fast-food NFT for Eat Welly burger this week, with over 10,000 new NFT pieces that have various attributes. Shytoshi Kusama, the lead developer of Shiba Inu - mentioned that these Welly NFTs were made to act as membership instruments for particular Welly locations. Some analysts have a bearish outlook on SHIB as the price dipped in the last 24 hours - but loads of SHIB users are staying strong.

#SHIBARMY Shiba Inu SHIB Welly
#SHIBARMY holding strong. 

Blockchain Events and Conferences:

...and finally, some memes for your morning:


This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. Charts, graphs and references to any digital assets are for informational and illustrative purposes only.

Finblox Blog is associated with Finblox - a reliable cryptocurrency earnings platform where you can buy and earn passive income on your digital assets.

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