1. Home
  2. WAX

WAX

Marvel to Drop Captain America NFT Statues, Fully-Readable Amazing Spider-Man #1 NFTs

Marvel to Drop Captain America NFT Statues, Fully-Readable Amazing Spider-Man #1 NFTs81 years ago on August 31, 1939, the company Marvel Comics was introduced to the world for the first time and people were presented with a whole universe of superheroes. In celebration of Marvel’s birthday and the firm’s collaboration with Veve Digital Collectibles, “Marvel Month” will conclude with special edition Captain America non-fungible token (NFT) […]

Chainlink, Microsoft, Banco Inter collaborate on Brazil’s CBDC pilot

WAX, Gnosis and IOST pack on gains after Bitcoin price hits $50K

GNO, WAX and IOST lead altcoins higher as Bitcoin’s rally to $50,000 signals that the bull market is back on track.

The bull market narrative has returned now that Bitcoin (BTC) price managed to briefly climb above $50,500 on August 23. 

A handful of altcoins have also seen their prices charge higher as the momentum in the market continues to build. For many tokens, the price has been buoyed by new exchange listings and cross-protocol collaborations that have brought a new level of activity and attention to their ecosystems. 

Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were WAX (WAXP), Gnosis (GNO) and IOST (IOST).

WAX benefits listing on Binance

The top performer on the 24-hour chart is WAX, a delegated proof-of-stake (DPoS) blockchain protocol that claims to offer the “world's most proven and eco-friendly blockchain for NFTs, video games and collectibles.”

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.161 on Aug. 19, the price of WAXP surged 242% to an intraday high at $0.55 on Aug. 23 as its 24-hour trading volume rose 21,756% to $2.24 billion.

WAXP/USDT 4-hour chart. Source: TradingView

According to the NewsQuakes™ alert system from Cointelegraph Markets Pro, the sudden spike in price came after Binance announced that it would list WAXP.

Gnosis surges after a partnership announcement

Gnosis, an Ethereum-based decentralized prediction market pushed higher after revealing that the team had joined the ZK Open Legal Working Group to create “legal clarity around the use of ZKPs to unleash their full potential for privacy and scaling applications.” 

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for GNO on Aug. 19, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. GNO price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for GNO has been elevated for some time and reached a high of 78 on Aug. 19, around 6 hours before its price increased by 26% over the next four days.

IOST's staking competition attracts investors

IOST is a decentralized blockchain network that utilizes a novel consensus protocol called “proof-of-believability” to validate transactions at a higher speed than competing networks.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for IOST on Aug. 22, prior to the recent price rise.

VORTECS™ Score (green) vs. IOST price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for IOST began to register green on Aug. 21 and climbed to a high of 72 on Aug. 22, around 8 hours before its price increased by 29%.

Activity for the blockchain has been on the rise thanks to an ongoing staking competition done in conjunction with Moonstake which offers a top prize of 15,500 IOST tokens.

The overall cryptocurrency market cap now stands at $2.139 trillion and Bitcoin’s dominance rate is 43.5%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Chainlink, Microsoft, Banco Inter collaborate on Brazil’s CBDC pilot

Record network activity and a second NFT boom send WAX price higher

WAXP price appears to be gaining strength after the NFT-focused project introduced staking, yield farming and partnerships with companies that offer pop culture collectibles.

Just a few days before Bitcoin (BTC) price plunged below $30,000, the NFT sector was dominating headlines for the second time in 2021, led by a month-long 972% surge in the price of Axie Infinity

Another NFT-focused protocol that has been gaining fundamental strength in recent months is Worldwide Asset eXchange, also known as WAX — a protocol that claims to “deliver the safest and most convenient way to create, buy, sell, and trade virtual items to anyone, anywhere in the world.”

WAX/USDT 4-hour chart. Source: TradingView

Data from Cointelegraph Markets Pro and TradingView shows that between June 27 and July 9, the price of WAX's WAXP token climbed 70% to a high of $0.151 before the Bitcoin-led sell-off pulled the price to its current value of $0.11.

Three reasons for the rally in WAXP include the growing list of well-known brands launching collectibles on the project's blockchain, an active network with fast transaction times and its integration to decentralized finance via cross-chain compatibility with the Ethereum (ETH) network.

Popular brands launch NFT projects on WAX

Nostalgia can be a potent source for attracting an audience willing to engage with a product and WAX has managed to capitalize on this by partnering with somewell-known brands in the United States.

Current partners include Atari, Topps, William Shatner and Capcom and a scroll through the project's Twitter feed shows recent campaigns for Street Fighter V Series 2 cards and special edition Bratz collectibles.

Popular collectibles like baseball cards and Garbage Pail Kids, along with more modern games like Alien Worlds (TLM) offer users a variety of options that help attract a wide audience to the WAX network and this has resulted in an increase in on-chain activity.

WAX boasts the highest activity of any network

A second sign of the growing strength of the WAX network can be found by looking at the 24-hour activity of the top-ranked blockchains, which WAX leads by a wide margin.

Top 6 most active blockchain networks. Source: Blocktivity

Data from Blocktivity shows that the 24-hour activity on WAX is now higher than 17 million operations and more than double that of Stellar (XLM), which is its closest competitor. WAX  more than six times the amount of activity on EOS, the creator of the EOSIO software which is utilized by the WAX network.

Yield opportunities arrive through DeFi and staking

The recent introduction of a cross-chain bridge to the Ethereum network allowed WAX to of yield farming and staking on the protocol, which has been enhanced through the introduction of a cross-chain bridge to the Ethereum network.

The WAX blockchain operates with a delegated proof-of-stake consensus model, meaning the simplest way that token holders can earn a yield on their holdings is by staking WAXP on the network to earn an annualized reward rate of 4.42% according to data from Staking Rewards.

Related: Altcoin Roundup: Data shows social metrics surge ahead of DeFi and NFT price rallies

Token holders can also convert their WAXP into WAXE, a version of the token that can operate on Ethereum and be used to participate in decentralized finance (DeFi) by providing liquidity on decentralized exchanges and yield farms.

Through offering opportunities related to NFTs and DeFi, two of the hottest sectors in the cryptocurrency ecosystem, the WAX network is well-positioned to continue to attract new users and maintain a high level of on-chain activity.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Chainlink, Microsoft, Banco Inter collaborate on Brazil’s CBDC pilot

Nifty News: Earn NFTs watching TV, DAO pays $1M for Aoki and 3LAU track … and more

Jenny DAO paid Aoki and 3LAU $1 million to create an NFT, as comedy icon Steve Harvey drops NFTs for charity.

Blockchain-based streaming service Sator has developed a decentralized app that will enable users to earn NFTs, tokens and “other rewards” by watching TV and playing games.

While details are sparse on the exact amount of rewards users can receive, according to the website, NFTs awarded will be directly tied to amount of shows watched, and time spent engaging with puzzles and TV trivia on the app.

Sator CEO Isla Perfito said the firm has created: “An easy and powerful solution for TV producers to turnkey deliver a unique NFT experience of their shows while viewers are tuned in.”

He added that, “NFTs will bring lots of activity to the platform, a fantastic jumping off point for a user looking to dive in to blockchain technology.” 

While it hasn’t been revealed what TV show rights the app is planning to acquire, the company did announced that it recently closed a $2 million seed round which included investment from Faculty Capital, Genesis Block Ventures, Digital Strategies and PetRock Capital.

Jenny from the blockchain

The Jenny DAO has paid $1 million for a one off NFT track produced by DJ’s Steve Aoki and 3LAU.

The one-of-one NFT is a tokenized song named “Jenny” and was commissioned to celebrate the recent launch of the Jenny Metaverse DAO, or Decentralized Autonomous Organization, on Unicly. The NFT contains an unreleased track by Aoki and 3LAU, and is accompanied by visual art from Pieter Hergert.

The NFT was minted on OpenSea by 3LAU, also known as Justin Blau, and then transferred to vault controlled by a smart contract on the Unicly Protocol which enables users to combine, fractionalize and trade their NFT collections.

The metaverse DAO recently pulled together $7 million to fund NFT acquisition for shared ownership between its governance token holders — with the Aoki and 3LAU NFT being the first choice for its collection after the community voted for it earlier this month.

The organization paif Aoki and 3LAU $499,000 each to produce the track, with the transactions conducted outside of OpenSea to avoid fees.

The NFT is likely to be locked up for some time. According to Jenny, the NFTs stored in the Unicly vault can “only be released if consenting Jenny Token holders reach a certain threshold and instruct the smart contract to unlock the vault.”

Comedian Steve Harvey’s NFTs are no joke

While many celebrities have flocked to NFTs in hope of making a quick buck, comedian Steve Havery appears to have entered the game for more selfless-purposes.

The comedian dropped a series of NFTs via Rarible on May 14 to raise funds for his non-profit “Steve and Marjorie Harvey Foundation” that provides outreach services for the disadvantaged youth.

The series includes an open edition with 112 minted tokens depicting a GIF from Harvey’s stand up comedy, and a limited edition of three minted tokens depicting an autograph portrait, and a one-of-one edition. The one-of-one is a tokenized GIF that depicts Harvey’s confused reaction to hearing about NFTs for the first time on his TV, and is on auction until May 21.

Harvey NFTs - Rarible

Bidding has been slow however, the auction started three days ago and the current highest bid is 2.2 Wrapped ETH, or WETH, worth around $6,770.

WAX announces more partnerships for NFT drops

Decentralized entertainment network WAX has announced more partnerships with entertainment brands to release licensed NFTs.

The new partnerships include cult-favorite anime franchise Robotech from Funimation and Harmony Gold, the movie Five Nights at Freddy's from ScottGames, the Bears vs Babies card game from Exploding Kittens and The Princess Bride movie from Act III.

The new partnerships add to an already impressive list of partners such as Major League Baseball, Capcom, Atari, Reebok and DeadMau5.

In June this year, the cult-favorite collectibles creator Funko Pops partnered up with WAX to drop packs tokenized Funk Pop collectibles.

Chainlink, Microsoft, Banco Inter collaborate on Brazil’s CBDC pilot