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BIC’s Video News Show: 5 NFT Altcoins for May 2021

Jessica Walker looks at BIC’s May picks for altcoins behind up-and-coming NFT platforms in this episode of the BeInCrypto video news show. We she’ll go over each platform in detail and look at recent price movements.

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Decentraland (MANA)

The Ethereum (ETH) blockchain powers Decentraland, a decentralized world. Users can buy property, build on it, and monetize it in this virtual world. They can also interact with the applications and content created by other users. It is distinguished by its decentralized existence.

MANA is the native token in this environment. It’s an ERC-20 coin, which means it’s based on the Ethereum blockchain. Users may use MANA to buy land and pay for goods and services in Decentraland right now. MANA tokens are available for purchase on a variety of centralized and decentralized exchanges, as well as swap services.

Looking at the graph, it shows how much NFTs and decentralized real estate have been in the news in recent months. In this scenario, MANA’s price has increased by 700% in the last few months.

https://lh3.googleusercontent.com/tRUAjKTjogrzXNr7ZLUF4R602VPYRXq8AAtVKV86toL9YLdoKHl4YBo35CsompHpLENzgKZDPsdUpvvEWOaaPMOJHjbV7juEmpOR9r4rIOd1DjlRfT2ZddtfIebs2krfuj6Gr5M-

However, momentum is slowing because the price did not surpass its recent peak of $1.63 last week. However, the general pattern continues. Despite the likelihood of a retest, the MANA token may benefit from the continued growth of Decentraland users.

BakerySwap (BAKE)

Centered on the Binance Smart Chain, BakerySwap is a decentralized automated market maker and NFT marketplace. The BAKE ecosystem, which began in September 2020, is driven by BAKE tokens.

Liquidity providers receive these tokens, which can then be used to collect a share of BakerySwap’s trading fees. They also take part in BakerySwap’s governance mechanism, which includes voting.

The chart shows that the price has approximately doubled every day and a half since lift-off on April 28.

https://lh4.googleusercontent.com/GnvswcW_qzMALWJNPSgGZ2_3hun1W0OeySgXuEvrs5nROxAYNGTxxBkNSsZKtrQxDBewIHSdSBnJOGENEjl-jC5vO6Lm0RzcwF2bxW5gueJNQjHZOrkUALLRf36bop3dN1Fcm2tX

After such a rapid rise, several coins experience a drop, and there has been one in the last day. However, the pattern has yet to be broken at the time of recording, so keep an eye on this one.

Chiliz (CHZ)

Chiliz created the Socios.com sports fan engagement platform with its CHZ token. Chiliz essentially offers blockchain-based resources to sports teams and entertainment companies to help them interact and monetize their audiences.

But what does this have to do with NFTs? This year, NFTs are scheduled to be released on the blockchain in the form of soccer trading cards. Similar to what NBA Top Shot has already accomplished with digital basketball trading cards. In this scenario, though, it will be for teams from a variety of sports that have entered the network.

The CHZ chart has only recently reflected the project’s success, rising 900 percent in less than two months.

https://lh5.googleusercontent.com/Vgqa8uO_Pyp3843zGWvGgp2iJrRcJP9xdzPyA1dLGpTW9DvzAqvt2IyXX9v7DfnocGwRfbPbtGup69AYzq7BOiuV_Gwj11lDH4WKb6FD0Q7067ztjgNGOo9fEAUzyo2vuqkhPFeN

We’re currently trading in a range, and with more people trading it, it appears that some profit taking has occurred. But Chiliz is gaining traction, and this may be just the start of the token’s success. One more thing to keep in mind if you’re trading CHZ: long green candles are always preceded by nearly identical drops the next day.

Trilium (TLM)

“Alien Worlds,” a virtual economy in which players complete tasks in order to win Trilium in exchange for a chance to discover unique NFTs. This can then be exchanged for real-world currencies. Economic competition and collaboration are encouraged and promoted among players in this metaverse. This is accomplished by enticing players to fight for a limited resource.

The first is a zoomed-in hourly chart from the previous ten or so days. It depicts a nice, steady climb with no sharp drops, as well as some of the levels to be aware of. However, it does not tell the whole tale.

https://lh6.googleusercontent.com/Cfg2gSumd17c1XySHlMaPlDVUmkVFBRLHVwpoEbGjaAIIeMiEY3gaurB9MWHA_sY2DrndFR8CI-R3ASVh5lyyFP1cho36A7FqjnvZ1xhk16deUEVSDkNF42w1D7nKQ_AI6oj_SXd

Take a look at the volume! In mid-April, TLM experienced a significant increase in volume. Much higher than when it was first published.

https://lh3.googleusercontent.com/AkdZT_9HY0iPaRLHptDW6zHBsG3DRIl99MOeaxqSqIzvXm2gLh6xGYJeXmNUy9PL0Wtc_HMsKddymj81Yao7o28Yvts9W34gXqd38DzY3UUPj9OtiYXAiMgqi8BK_LXVWVqxHa8m

As a result, what we’re seeing now might be a sign of real demand for both the cryptocurrency and the ecosystem, as the volume data we’ve circled confirms.

My Neighbor Alice (ALICE)

Anyone can buy and own virtual islands, as well as collect and create objects, in My Neighbor Alice. Which can then be substituted for NFTs. NFTs are used to represent land, buildings, plants, and animals.

It’s worth noting that the platform includes in-game features such as property rental. This is made possible by a smart contract that oversees all of the rental processes and specifications.

ALICE is the game’s native utility token and is the last of the top five picks for May. It is used as an in-game currency, and its price chart appears to be at a critical point.

https://lh4.googleusercontent.com/6hUG7VFJwpMGTa0FzsJBpvYmJaeAwd2aChEzeCzczTvWpj_pUPWz5wLxufKLTtiea5Oextm0MTR_l4BVv1vyagppb36O6CrUsBwTuUFZY5CmevHk5k3OQi_-AIxZ3HqX2CB7JBCj

Moving on to technical research, we’re seeing the price drop to $16.9, a level that proved to be too high a month ago. On the other hand, the last week’s uptrend is still going high. One of these powers will have to yield, and when the winner emerges, we should see a breakout.

NFT

Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

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A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

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NFT

Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

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The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

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Projects

The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.

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The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

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