Weekly Flip Thru: DOGE Skyrockets to #1
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DOGE Skyrockets to #1
April Fools! Well, kind of. This week, CoinFlip ran its first Cryptocurrency Madness Tournament! Each day, eight of the coins we list faced off in a vote via Twitter Poll to determine which coin was the fan favorite and move on to the next round. The championship game wrapped up Tuesday, and Dogecoin defeated the number one seeded Bitcoin in a major upset!
Bitcoin is still the world's biggest and most widely-used digital asset, but, the Doge Army is strong - coming out en masse to ensure Dogecoin solidified its place as the fan-favorite coin.
Are you looking to add some Dogecoins to your wallet? You can buy DOGE at any CoinFlip ATM! Click here to find the ATM nearest you!
Were you cheering on the Doge Army during the Crypto Madness tournament? Show your Doge pride with this championship T-shirt! Click here to purchase.
Bitcoin: Now Accepted... Everywhere?
Bitcoin's behavior has been a bit boring over the last few weeks, but that hasn't stopped the cryptocurrency industry as a whole from making big moves.
On Tuesday, PayPal announced that it has started allowing U.S. customers to use crypto to pay at millions of online merchants. When using PayPal, making a payment with bitcoin, ether, litecoin, or bitcoin cash is no different than using a credit or debit card. Just select your desired payment method and proceed with your transaction as usual.
PayPal's announcement came after Visa announced it accepted its first cryptocurrency payment. Earlier this month, the payments company said that it wants to begin allowing people to make payments using bitcoin through the Visa network. Plus, last week, Tesla added bitcoin as a payment option to its website, which means for around 1.2 BTC a new Tesla Model S could be yours!
This news is huge for the crypto industry. It indicates that things are changing, and fast! What has been seen mainly as an asset class that you buy, hold, or sell is now becoming much more like an actual currency you can use to make transactions in the real world.
If you're interested in spending your bitcoin or another cryptocurrency, check out this guide that covers everything you need to know.
NFTs Take Over Music
Last weekend, Saturday Night Live did its best to answer the question on everyone's minds lately: What the heck is an NFT?
In a parody song to the tune of Eminem's 2002 song "Without Me," Pete Davidson, dressed as Slim Shady himself, explained NFTs to Treasury Secretary Janet Yellen, impersonated by Kate McKinnon. Honestly, the song does a pretty good job explaining NFTs and their pop-culture dominance. If you haven't seen the video yet, you can check it out here.
On a more serious note, music artists have been some of the world's most prominent champions of NFTs, with NFT projects popping up all around the industry. Among the world's top-selling NFT artists are electronic music producers and DJs. The top 30 sellers include names like 3LAU, Grimes, Steve Aoki, Deadmau5, and Odesza.
Even mainstream musicians have been toying with the idea of launching NFTs. Last week, singer The Weeknd hinted at releasing a new song in the NFT space soon. Earlier in March, Kings of Leon became the first band to release a new album as a non-fungible token.
Why are NFTs blowing up the music industry right now? A big reason has to do with the COVID-19 pandemic. After more than a year of no concerts or in-person events, the music industry has taken a brutal hit economically. With artists forced to seek new ways of making money in a world that has become more digital, NFTs have been a perfect solution.
If you're looking to learn more about NFTs, check out this Flip Thru from February that answers all the most pressing questions about NFTs.
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