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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been considered by many as one of the most famous silkscreen artists because of the use of vivid colors in his pieces. However, he has also been known more recently for his contemporary works using laser and hologram technology. He is recognized as a pioneer of contemporary laser art. Some of his most famous works include, ‘Dreams of Disney’ and ‘Restoring of Mercedes-Benz’.

“Now through the power of blockchain and its application in NFT technology, Mr. Yamagata’s works are immortalized into an immutable public ledger. That is a very powerful thing for both artists and art collectors alike”, Mr. Di Franco added.

One of the most important factors in the art world is provenance and the history and context of both the artist and the artwork itself. Now through the use of blockchain, there is a complete and fully transparent history of the artwork’s lifespan starting at the artist and ending at current owner. NFTs bring unprecedented ownership and historical accuracy with guarantees that cannot be provided elsewhere.

“The NFT market is still young, but many like Mr. Yamagata, have expressed interest in using this new medium to reach a new market and bring value to their existing clients. There is a growing movement of individuals and businesses that have a purchasing appetite for these unique digital assets”, continued Mr Dizon.

XENO’s VIP service commenced with Mr Yamagata’s (and other digital items) listed in auction and direct sale formats with great success and positive feedback from users. It is looking to roll out a wider Closed Beta in the near future while ramping up for a full Public Beta launch on its own network in June 2021.
 

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Ethereum Price Outlook as the DXY Index Crash Continues

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Cryptocurrency prices remained in an upbeat tone on Thursday as the US dollar index continued its bearish move. Bitcoin, the biggest cryptocurrency in the world, rose to $23,165, the highest level in months. Similarly, Ethereum has risen by more than 4% in the past 24 hours while BNB Coin and XRP surged to $307 and $0.41, respectively. 

US dollar index retreats

Cryptocurrencies have an inverse relationship with the US dollar index. For example, the DXY, which looks at the performance of the greenback vs other currencies, soared to a 20-year high of $115 in 2022. As that happened, cryptocurrencies like Bitcoin plunged during the year.

The foundation of this relationship is the Federal Reserve. In most periods, the US dollar index tends to rise when the Fed is extremely hawkish and vice versa. And it was extremely hawkish in 2022 as it hiked interest rates by more than 400 basis points. 

Therefore, while the Fed has remained hawkish recently, the US dollar has dropped because of what the data is saying. Data published recently showed that America’s inflation is easing. The closely watched consumer price index dropped to 6.5% in December while core inflation fell to 5.7%. 

At the same time, other parts of the economy are showing that the American economy is indeed recoiling. Retail sales dropped sharply in December while many…

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INJ Crypto Surges After Injective Launches a $150M Fund

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Injective Protocol’s INJ price jumped sharply on Wednesday as demand for the coin roared back. The token jumped to a high of $2.46, which was the highest point in months. At its highest point on Wednesday, the token was up by over 90% from the lowest level in 2023.

What is Injective Protocol?

The blockchain industry is made up of numerous layer 1 networks like Ethereum, Solana, and Avalanche. All these projects have tools that make it possible for developers to build on top of them. They are all used to build applications in industries like non-fungible tokens (NFTs) and DeFi.

Injetive Protocol is a layer 1 project that focuses on the DeFi industry. It is built on top of Cosmos ecosystem to make it easy for developers to build auto-executing smart contracts that are faster and cost-effective. Injective Protocol has raised millions of dollars from the likes of Mark Cuban and Panterra Capital.

According to its website, Injective has made over 152 million on-chain transactions with an average transaction cost of less than $0.01. Some of the top applications built on Injective are Helix, Astroport, and Frontrunner. 

Helix is a decentralised orderbook crypto exchange for trading digital assets with zero gas fees. Frontrunner, on the other hand, is a sports prediction market while Astroport is a popular AMM for swapping crypto assets.

Injective’s INJ token…

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The Graph’s GRT Recoils After Optimism, Celo, Avalanche Integration

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The Graph’s GRT token price pulled back on Thursday even after the positive ecosystem news. GRT pulled back to a low of $0.076, which was a few points below this week’s high of $0.088. The token has surged by over 47% this year. 

The Graph adds Optimism

In a statement, The Graph announced that it will add Optimism to its network as it continues to expand its ecosystem. This means that Optimism developers will be able to use The Graph’s query technology to access data in their platforms. The data will be served by subgraphs on the decentralized network. 

Optimism is a leading layer-2 network that helps developers to build decentralized applications. Like other layer 2 platforms, Optimism supercharges dApps by increasing their speeds and lowering their transaction costs.

Optimism has been used to supercharge 97 DeFi dApps that have a total value locked (TVL) of more than $646 million. Some of the top dApps that use its technology are Synthetix, AAVE V3, Velodrome, Curve, and Uniswap V3.

The Graph’s integration came in the same week that the network integrated other networks like Celo,Arbitrum, Avalanche, and Gnosis. All these blockchains are solving important challenges in the blockchain industry. Combined, they all have a total value locked (TVL) of more than $3 billion.

The Graph price prediction

The Graph Price

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