Apecoin No Longer Go Banana, Farrell Promotes Doodles And More…

Apecoin, is the Ethereum-based token associated with the popular and It is almost certainly not related to 4Chan The Bored Ape Yacht Club NFT project saw its market capitalization drop by 67.2% or $4.3 billion during the month of May and has continued to decline since then.

Despite the bearish macro factors looming over both the crypto and stock markets throughout 2022, May in particular was a tough month for cryptocurrencies (thanks Terra!)

Like so many other assets, Apecoin has not been able to escape the brunt of this downturn, and its market capitalization to reject by $4.3 billion to nearly $2.1 billion by May 31 as the price fell from $21.27 to $6.97, according to data from CoinGecko.

APE / USD: CoinGecko

Trading volumes amounted to about $5.7 billion at the beginning of May but fell to $498 million at the end of the month.

Since then, the market cap has continued to decline to $1.3 billion, at $4.40 per token at the time of writing, while the total 24-hour trading volume is currently around $264 million. This is the lowest since its launch in March.

Overall, Apecoin is down 83.5% since it reached an all-time high market capitalization of $6.81 billion, at $26.70 per token on April 28.

Pharrell Williams signed for Doodles NFTs

Doodles, one of the most important NFT projects in the space founded by esteemed artist Burnt Toast, has signed acclaimed musician Pharrell Williams as head of the brand.

So far, the Doodles NFT project has I was born About $503 million in secondary sales since its launch in October 2021, the team is currently preparing to drop a second NFT of 10,000 tokens at a time yet to be revealed later this year.

Williams is the man behind the beloved, disturbing, headache-inducing song “Happy,” which has over a billion plays on YouTube, and will direct project strategy related to artwork, music, production lines, animation, and virtual/public events. The musician will also produce a doodle-inspired music album titled “Doodles Records: Volume 1.”

Announcing the announcement at the NYC NFT event on June 22, the project also revealed that it has closed a funding round led by Reddit co-founder Alexis Ohanian, Reddit co-founder Alexis Ohanian. The amount of the capital was not disclosed however.

“I am a huge fan of the brand,” Williams said in a video message, adding, “We will build from the core community outward and bring doodles to new heights and new levels.”

NFT art helps the art market in general: expert

Art expert Magnus Resch believes that mainstream adoption of NFT is helping to break down barriers to art collecting and attract new buyers to a field that often struggles for numbers due to its elitist nature.

Rich is an art market economist with a Ph.D. in Economics from Harvard University. He also authored two books on artwork called “Art exhibitions management And the “How to become a successful artist. “

Talking to “Art News” on June 23, Rich highlighted An interesting point about symbolic art, where he argued that price transparency and relative ease of purchase make it less threatening for new collectors to enter the market:

The biggest problem with the art market is that we have too many visitors and too few buyers, and the number of buyers is falling. and why is that? Because buyers are afraid to enter the art world. It is very elitist, not open to first-time buyers. If you can’t impress the rookies [to join] In the art world, we will all fail.

But NFTs can help solve this problem. And suddenly there are people who are buying because they have complete price transparency and automatic access.”

Related: Non-fouling airdrops: Could the NFA become the next big acronym in the crypto space?

Solana is building a smartphone, cue jokes

Solana Blockchain / Solana Labs Co-Founder and CEO Anatoly Yakovenko has announce The team will release an Android web3 smartphone in the first quarter of 2023 called Saga.

The phone will have a 6.67-inch OLED screen at 120Hz, 512GB storage, 12GB RAM, and will be powered by Qualcomm’s latest Snapdragon 8 Plus Gen 1 chip. It will also have a 50-megapixel primary camera and a 12-megapixel wide-angle camera. It will be priced at $1,000, and pre-orders with a $100 deposit are now open.

No word yet on if the phone will turn off every month and require a manual restart.

Other Nifty news:

Meta, the parent company of Instagram, announced on June 22 that it will start Test NFTs on Instagram Stories Using the augmented reality platform Spark AR.

eBay, the e-commerce giant, on June 22 KnownOrigin’ acquisition announced The NFT Marketplace that will help the company enter the world of blockchain technology and digital collectibles.