Liverpool-Real Madrid, final chaos “to speed up NFT tickets”


The turmoil surrounding the UEFA Champions League final in Paris is likely to accelerate the adoption of NFT ticketing in France.

The May 28 match, which saw Real Madrid beat Liverpool to claim the famous 14th European Cup triumph, was marred by disturbing scenes as thousands of legitimate ticket holders were unable to get close to the ground.

Kick-off was delayed, with authorities blaming the arrival of thousands of fans with counterfeit tickets, many of whom support Liverpool. Observers criticized the police operation as officers used tear gas, while local gangs also targeted fans after the match.

France had initially stated its intention to introduce non-fungible tokens for ticketing to the 2023 Rugby World Cup and 2024 Paris Olympics. However, a report submitted by the French government to the Olympics, sent out last week by Michel Cadot in the office of the French Prime Minister, he recommended that it be presented first.

“This would make it possible to foreshadow planned systems and violate working methods, as well as the reflexes of multi-actor management to address difficulties,” Cadot said in the report.

Digital-only NFT tickets, based on blockchain technology and QR codes, would be distributed via SMS just before an event and activated within a security zone at the venue.

NFT tickets could also incorporate access rights to VIP areas among other functions.

Cryptocurrency exchanges Coinbase and BlockFi lay off thousands of employees

Coinbase, the world’s most popular cryptocurrency exchange, will lay off 1,100 employees.

The company’s workforce will be reduced by 18% in a persistent bear market to “ensure we stay healthy during this economic downturn”.

A message from CEO Brian Armstrong informed staff of the news and said that those who have been fired will be notified via personal email as their access to corporate systems will be terminated immediately.

Coinbase recently revoked job offers made to individuals, causing a backlash on social media.

Meanwhile, the smaller exchange BlockFi will lay off 20% of its staff, affecting around 170 people.

Cryptocurrency shorts

Cryptocurrency lending company Celsius, which suspended withdrawals and transfers from your platform recently citing “extreme market conditions,” hired restructuring law firms, reports the Wall Street Journal.

Mairead McGuinness, European Commissioner for Financial Services, has called on EU lawmakers to speed up the transition of its cryptocurrency regulatory framework to ensure sanctions against Russia include cryptocurrency.

Fashion brand Lacoste has launched an NFT project, “Undw3”, to allow holders to vote on products and business partnerships via a decentralized autonomous organization. Sold for $ 96 in Ether at the start, the 11,212 NFTs depict an animated alligator peeking out of the water.

Bill Gates, co-founder of Microsoft, says NFT projects are “based on the greater fool theory”. He said at a TechCrunch environmental conference in California: “Obviously, expensive digital images of monkeys will improve the world immensely.”

Encrypted prices

The combined market capitalization of the 19,800+ coins is $ 900.79 billion at the time of writing (7:00 am in the UK), down 5.9% over the past 24 hours.

Market leader Bitcoin, the original cryptocurrency created by the mysterious Satoshi Nakamoto, has dropped 7% in the past 24 hours to $ 21,225. BTC is down 31% in one week.

Ethereum, the second most valuable cryptocurrency, created as a decentralized network for smart contracts on the blockchain, fell 8% to $ 1,125. ETH is down 38% over the course of a week.

Binance Coin is a cryptocurrency created by the popular cryptocurrency exchange Binance to help its goal become the infrastructure service provider for the entire blockchain ecosystem. Its BNB token dropped 7% to $ 212, leaving it down 27% in seven days.

Cardano is an open source network that facilitates dApps that consider itself an updated version of Ethereum. Its ADA token, designed to allow owners to participate in the operation of the network, dropped 6% to 46 cents and was down 29% over the course of a week.

Ripple’s XRP token, a payment settlement asset exchange and remittance system, acts as a bridge for transfers between other currencies. XRP is down 5% to 30.5c and its price is down 24% from seven days ago.

Solana is a blockchain built to make decentralized finance accessible on a larger scale and capable of processing 50,000 transactions per second. Its SOL token fell 8% to $ 28.11 and is down 29% from a week ago.

Meme coin DOGE was created as a satire on the hype surrounding cryptocurrencies, but is now a major player in the space. DOGE fell 10% to 5.2c, leaving it down 35% in a week. It was surpassed in the price table by market cap by Polkadot.

Polkadot was founded by the Web3 Foundation, based in Switzerland, as an open source project for developing a decentralized web. Its DOT token, which aims to securely connect blockchain, dropped 2% to $ 7.18 and is 22% lower than its price a week ago.

Avalanche is a lightning-fast verifiable platform for institutions, businesses and governments. Its AVAX token fell 9% to $ 15.37 and is down 37% in a week.

To see how valuations of major currencies have changed in recent times – and for a summary of recent cryptocurrency news developments – Click here.

For valuations of the top 100 coins by market capitalization in US dollars, plus 24 hour price change, see below.

Liverpool-Real Madrid, final chaos “to speed up NFT tickets”

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