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Gwyneth, Shaq, Paris, Eminem — A Deep Dive Into the NFT Collecting Habits of the Rich and Famous

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Gwyneth, Shaq, Paris, Eminem — A Deep Dive Into the NFT Collecting Habits of the Rich and Famous

Gwyneth, Shaq, Paris, Eminem — A Deep Dive Into the NFT Collecting Habits of the Rich and Famous

Over the last year, celebrities have been dabbling in non-fungible token (NFT) collectibles and a few of their purchases have brought them attention. For instance, a number of socialites, luminaries, big-name personalities, and today’s top brass have purchased NFTs from the Bored Ape Yacht Club (BAYC) collection. While they paid a pretty penny in ethereum for the BAYC NFTs, many celebrities have deep pockets when it comes to other NFT collections as well.

Celebrities Love NFTs

A whole bunch of famous people own non-fungible tokens (NFTs) and the trend has picked up a great deal during the last 12 months. A lot of times, celebrities share their NFT purchases on social media when it comes to significant acquisitions like expensive Bored Ape (BAYC) NFTs.

Records show a few dozen well known public figures own BAYC NFTs, as the collectibles have become a status symbol of sorts. Stars like the NBA’s Stephen Curry, Shark Tank’s Mark Cuban, NBA legend Shaquille O’Neal, comedian Jimmy Fallon, and rap star Snoop Dogg are all BAYC or MAYC owners. In addition to the BAYC NFTs, celebrities are also collecting a number of NFTs from other collections and many luminaries have vast quantities of NFTs.

Eminem

Marshall Mathers III, professionally known as Eminem is a hip-hop star and an avid NFT collector. At the end of April 2021, Eminem launched his first NFTs, which were beat-inspired animated digital collectibles made for fans. In August, with his friend and CEO of Goliath Records, Paul Rosenberg, Eminem participated in the Makersplace Series A funding round. Then in January 2022, Eminem purchased Bored Ape Yacht Club #9055 for $452K. Since then, the American hip-hop star has bought a whole lot more NFTs and he still owns BAYC #9055.

Gwyneth, Shaq, Paris, Eminem — A Deep Dive Into the NFT Collecting Habits of the Rich and Famous

Records show Eminem has 4,064 NFTs from 134 collections and he’s a big fan of BAYC, Mutant Ape Yacht Club (MAYC), Clonex, Doodles, Kongz, World of Women (WoW), and a Gucci Grail Mint Pass NFT. Eminem owns MAYC #922 worth $45K, Clonex #10644 valued at $29K, and Clonex #17146 worth $29K as well. Slim Shady has a lot of ethereum (ETH) in his wallet as well and at the time of writing, he holds 152.41 ether worth around $395K. On Wednesday, December 29, 2021, Eminem’s wallet had around 0.1722 ether but on Friday, January 28, 2022, he accumulated a hefty sum of 387.43 ethereum (ETH).

Shaquille O’Neal

The basketball legend and sports analyst for Inside the NBA, Shaquille O’Neal, commonly referred to as Shaq, is also a big NFT collector. Data shows Shaq’s most valuable NFT, in terms of estimated price value, is Mutant Ape Yacht Club (MAYC) #14452 worth $44.1K but he also owns Creature #9018 worth $5.2K, and many other digital collectibles.

Gwyneth, Shaq, Paris, Eminem — A Deep Dive Into the NFT Collecting Habits of the Rich and Famous

At the time of writing, Shaq’s wallet holds 890 NFTs from 90 different collections. Currently, Shaq doesn’t keep as much ethereum in his wallet as Eminem, as his wallet only holds 0.5928 ether worth $1,537, using today’s ETH exchange rates. A number of people have sent Shaq ERC20 tokens of all types and unique names as well.

Paris Hilton

The media personality, socialite, and entrepreneur, Paris Hilton has been a fan of digital currencies for quite some time. Hilton is also a huge fan of NFTs and the metaverse and she’s got a significantly sized collection of NFTs today. Statistics show Hilton has 1,699 NFTs from 118 collections. Hilton’s most valuable NFT, in terms of estimated price value, is Bored Ape Yacht Club #1294 worth $211K.

Gwyneth, Shaq, Paris, Eminem — A Deep Dive Into the NFT Collecting Habits of the Rich and Famous

The businesswoman and model is also a fan of her own NFTs, and other collections like Clonex, Machine Hallucinations, and a Gucci Grail Mint Pass. Hilton also keeps a low amount of ethereum in her wallet, as she currently holds 0.1119 ether worth $290. Although, the wallet holding all her NFTs has around 1.8 wrapped ether (WETH) and $53.6K worth of origin protocol (OGN).

Gwyneth Paltrow

The American actress and businesswoman Gwyneth Paltrow has been into bitcoin for years and these days she is all about non-fungible token (NFT) collectibles. Currently, Paltrow’s wallet holds 82 NFTs from 12 different collections.

Gwyneth, Shaq, Paris, Eminem — A Deep Dive Into the NFT Collecting Habits of the Rich and Famous

Her most valuable, in terms of estimated price value, is a BAYC NFT (#6141) worth $223K. But Paltrow is also a fan of World of Women (WoW) NFTs and the popular Gucci Grail Mint Pass. Paltrow has a myriad of WoW NFTs such as Woman #7743, #7742, and #7812. Furthermore, Paltrow’s wallet only holds 0.477 ETH worth $1,236 using current exchange rates.

Collecting Blockchain Art Gives the Public a Whole New Perspective

Celebrities buying expensive art has been a trend for a long time, but unlike a private art sale, blockchains open up a whole different perspective. Blockchains show their whole collections and an assortment of other data that may have gone unnoticed in a traditional or private setting. The trend of famous people purchasing NFTs doesn’t seem like its going to slow down any time soon and the fact that everyone can see their shiny digital collectibles probably pleases them.

What do you think about celebrities and their fascination for NFTs like Bored Apes and many other collections? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Miami’s Mayor Remains Unfazed by Crypto Crash, Still Receives His Paycheck in Bitcoin

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Miami’s Mayor Remains Unfazed by Crypto Crash, Still Receives His Paycheck in Bitcoin

Despite the tragedy of TerraUSD (UST) de-pegging and the subsequent chaos that plagued the cryptocurrency markets, Miami’s mayor remains resolute in receiving his salary in Bitcoin, but it seems he has other streams of income.

At the World Economic Forum (WEF), Miami Mayor Francis Suarez told attendees of a panel that he was still receiving his paycheck in Bitcoin and has no plans to stop. Suarez’s comments are coming on the heels of plummeting cryptocurrency prices over the last few months with Bitcoin down by over 30% in the last 2 months.

The Mayor told the audience that he remains unperturbed by the mayhem in crypto streets and will continue accepting his salary in Bitcoin. A reason for his cool, calm, and collected nerves is because of his multiple income streams that might serve as a buffer during volatile moments.

“I will note, for the record, that it’s not my only salary,” said Suarez. “It’s a different decision than if a person was deciding to take their salary in Bitcoin if it was the only source of income for them.”

Mayor Suarez drew the attention of cryptocurrency enthusiasts last year when he announced that he will begin taking his entire paycheck as Mayor in Bitcoin. Before the announcement, Suarez publicly announced his desire to pay government employees in Bitcoin as part of efforts to improve crypto adoption in the city. 

Making Miami the crypto capital of the U.S. 

Mayor Suarez has been making moves to make Miami a leading crypto hub since his assumption of office. The city has been receptive to cryptocurrency miners, and there have been conversations about allowing citizens to pay bills and taxes with crypto.

“I want us to differentiate ourselves as a crypto capital of the United States or the world,” he said in an interview with Bloomberg.

Suarez has been backing his claim with actions, with the city famously launching MiamiCoin which netted the city over $5.2 million. In November 2021, there were plans for the city to distribute $21 million to Miami’s citizens through the ambitious plans to create a digital wallet for each citizen.

Miami was the center of attention after successfully hosting the Bitcoin 2022 conference. Major players in Bitcoin’s ecosystem like MicroStrategy’s CEO Michael Saylor, ARK Invest CEO Cathie Wood, billionaire Peter Thiel, CEO of Strike Jack Mallers, and others. Nayib Bukele, El Salvador’s pro-Bitcoin president, was scheduled to make an appearance but pulled out due to unforeseen circumstances.

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Billionaire Investor Ray Dalio Says ‘Cash Is Still Trash’, Prefers ‘Digital Gold Bitcoin’

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Billionaire Investor Ray Dalio Says ‘Cash Is Still Trash’, Prefers ‘Digital Gold Bitcoin’

Billionaire investor and hedge fund manager, Ray Dalio, has reiterated his previous call that “cash is trash”. Dismissing equities as “trashier”, the Bridgewater Associates founder said he preferred “a digital gold like bitcoin” instead.

“Of course, cash is still trash,” Dalio said. “Do you know how fast you’re losing buying power in cash?” He was speaking on CNBC’s Squawk Box during the ongoing World Economic Forum (WEF) meeting in Davos, Switzerland.

“When I say cash is trash, what I mean is all currencies in [relation] to the euro, in relationship to the yen,” he explained. “All of those currencies like in the 1930s will be currencies that will go down in relationship to goods and services.”

Dalio is the founder of the world’s biggest hedge fund firm, Bridgewater Associates, which manages around $223 billion. In January 2020, the 72-year-old American investor advised people to diversify their portfolios by “getting out of cash”, which he called “trash”.

Bitcoin as ‘digital gold’

At Davos, Dalio spoke about a range of issues including stocks, the global economic outlook, and the U.S. central bank’s efforts to combat inflation. He said stock markets had become too crowded, and that compared to cash, “equities are trashier”.

“Everybody is long equities, and everybody wants everything to go up,” said Dalio. “The more they hype it the more it becomes somebody else’s financial asset they’re holding. You can’t have that, so you’re going to have an environment of negative real returns.”

For the billionaire, bitcoin (BTC) is a preferred form of investment at a time of worldwide economic uncertainty. His list of safe-haven assets also includes real estate and precious metals such as gold.

“I think blockchain’s great,” Dalio stated. He touted cryptocurrency’s potential as a fix to what he expects to be a tough year for the U.S. economy, marked by high inflation and a lack of real returns on investments. Continuing, he said:

“But let’s call it a digital gold. I think a digital gold, which would be a bitcoin kind of thing, is something that – probably in the interest of diversification of finding an alternative to gold – has a little spot relative to gold and then relative to other assets.”

Bitcoin’s inflation-hedge credentials under spotlight

Dalio’s comments come against the backdrop of rising disillusionment in the credentials of bitcoin as an inflation-hedge asset. Proponents have argued that bitcoin is a gold-like store of value.

In 2020, many people believed BTC was now poised to transition from a risk-on speculative asset to the crypto market’s version of the metal after its correlation to gold jumped to an all-time high.

But that argument may have started to fall apart with the massive decline in crypto markets this year. Bloomberg data shows that BTC’s correlation to gold dropped to almost zero earlier in January, and as bitcoin prices fell in later months, gold continued to rise.

In April, the 50-day correlation coefficient for BTC and gold was around minus 0.4, the lowest since 2018, Bloomberg said. A reading of 1 implies assets are moving in lockstep, and minus 1 is the reverse.

Crypto markets have become more tied to the stock market instead, particularly to blue-chip technology stocks such as Apple, Amazon, and Microsoft. More than $1.5 trillion has been wiped off the face of crypto markets so far this year.

Dalio forecasts ‘squeeze on demand’

Dalio, the Bridgewater Associates founder, painted a gloomy picture of the global economy in 2022. He expects inflation in the U.S and elsewhere around the world to erode the purchasing power of money, saying:

“We are in an environment that we are now going to ask ‘what is the new money?”

On bonds, he said: “The Federal Reserve is going to sell, individuals are selling, foreigners are selling, and the U.S. government is selling because it has to fund its deficit. So there’s going to be a supply/demand problem, that means that it produces a squeeze.”

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Polkadot parachains spike after the launch of a $250M aUSD stablecoin fund

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Polkadot parachains spike after the launch of a $250M aUSD stablecoin fund

Crypto prices have been exploring new lows for weeks and currently it’s unclear what it will take to reverse the trend. Despite the downtrend, cryptocurrencies within the Polkadot (DOT) ecosystem began to rally on May 24 and have managed to maintain gains ranging from 10% to 25%, a possible sign that certain sub-sectors of the market are on the verge of a breakout.

Here’s a look at three Polkadot ecosystem protocols that have seen their token prices trend higher in recent days.

Acala launches a $250 million aUSD ecosystem fund

Acala (ACA) is the leading decentralized finance (DeF) platform on the Polkadot network, primarily due to the launch of aUSD, the first native stablecoin in the Polkadot ecosystem.

Following the collapse of Terra’s LUNA and TerraUSD (UST), traders were searching for “safer” stablecoin options.

On March 23, ACA rallied after the project announced the launch of a $250 million “aUSD Ecosystem Fund” that aims to support early-stage startups planning to build strong stablecoin use cases on any Polkadot or Kusama parachain.

— Acala (@AcalaNetwork) March 23, 2022

Acala also announced the launch of a kickoff rewards program that has set aside 1 million ACA tokens as rewards for LCDOT/DOT, LCDOT/aUSD, ACA/aUSD and aUSD/LDOT liquidity providers.

Following the aUSD ecosystem fund announcement, the price of ACA spiked 31% from a low of $0.364 on May 23 to a daily high of $0.478 on May 24.

Astar rallies after revealing a partnership with Microsoft

The Astar (ASTR) network is a smart contract hub for the Polkadot community that supports Ethereum (ETH), WebAssembly and other layer-two solutions like zk-Rollups.

Since the Polkadot relay chain doesn’t offer Ethereum Virtual Machine (EVM) support, Astar was created to become a multi-chain smart contract platform capable of supporting multiple blockchains and virtual machines so that they can integrate with the Polkadot ecosystem.

On May 24, it was revealed that AstridDAO, an Astar-based protocol responsible for minting the collateralized BAI stablecoin, had signed a partnership with Microsoft to become part of Microsoft for Startups, an initiative “which removes traditional barriers to building a company with exclusive access to technology, coaching, marketing and support.”

— AstridDAO – No.1 native stablecoin on Astar (@AstridDAO) May 24, 2022

If successful, the partnership should accelerate AstridDAO’s go-to-market speed and maximize its market influence. It also includes up to $350,000 worth of benefits through Github Enterprise, Microsoft Teams and Azure credits.

Following the partnership announcement, the price of ASTR spiked 61% from $0.055 to a daily high of $0.0888.

Related: Polkadot vs. Ethereum: Two equal chances to dominate the Web3 world

Uniswap v3 to deploy on Moonbeam

Moonbeam (GLMR) is an Ethereum-compatible smart contract parachain on Polkadot that streamlines the use of Ethereum developer tools to build or redeploy Solidity projects in a substrate-based environment.

Interoperability with the Ethereum network is a highly sought-after capability since a majority of decentralized applications currently operate on Ethereum along with a majority of the value in decentralized finance.

The benefit of EVM interoperability was demonstrated with the May 24 announcement that a proposal to deploy Uniswap (UNI) v3 on the Moonbeam network passed, meaning that the top decentralized exchange in the crypto ecosystem will soon be accessible to Moonbeam users.

— Uniswap Labs (@Uniswap) May 23, 2022

Following the announcement, the price of GLMR climbed 29% from a low of $1.15 on May 23 to a daily high at $1.48 on May 24 as its 24-hour trading volume increased 106% to $75.3 million.

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.

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