Last week was packed with developments from some of the top crypto projects and we’re excited! But the biggest thing was a new statement from the CBN Governor concerning crypto 👀. In other news, Ethereum is tackling their network fees before they get swallowed by the competition. Ripple is also trying to light the fuse again and Manchester City has some news for its fans. Finally, the Jack Dorsey NFT auction is over!! Enjoy!
Nigeria: A State of Statements 🇳🇬
Godwin Emefiele, Governor of the Central Bank of Nigeria, recently talked about the importance of digital technology like blockchain in Nigeria’s future. “The CBN did not place restrictions from use of cryptocurrencies and we are not discouraging people from trading in it,” said Emefiele. “What we have just done was to prohibit transactions on cryptocurrencies in the banking sector.” There’s no telling where this is headed so we’re just going to chill and watch.
ETH: Another Berlin Wall 🧱
Over time, ETH has seen a separation on its network as more people try to use it. Its price has increased quickly and network fees (paid when you try to send ETH from one wallet to another) have risen. This creates a divide between people who can afford the high network fees, and smaller creators and newbies who can’t. So Ethereum developers are working on an upgrade, called ‘Berlin,’ that will hopefully fix the problem. Fingers crossed 🤞🏾
Ripping through the Charts 🚀
Like everyone else, we can’t wait to see how the SEC Vs Ripple ‘wahala‘ ends. Almost every week, there’s a new development that changes everything. The adrenaline spikes, combined with the uncertainty are giving us a headache. But the good part is that XRP seems to be making its way out of the stagnant fog it’s been stuck in all year. Its price is up by at least 16% in the last week and may continue this cycle for a while.
For the City Fans ⚽️
Okay so boom! Football fan tokens are a big deal today. When Covid-19 came, fan tokens became popular and Manchester City is dipping its finger in the pot. The club will launch CITY tokens via socios.com. Other clubs like Juventus and FC Barcelona have been doing this for some time so it’s no surprise that the 5th most valuable football club in the world wants in. These tokens will give fans access to VIP rewards, polls, promos, games, and AR-enabled features.
Big Bird Bucks 💸
The auction for an NFT of the first ever tweet, “just setting up my twttr” by Jack Dorsey is officially over and the highest bid was $2.5 million by Malaysian businessman, Sina Estavi. It’s exactly 15 years to the day it was tweeted and still managed to cause a bidding war. According to an earlier tweet by Dorsey, the money will go to ‘Give Directly African Response’, a charity that focuses on sending money to Africans in need.