British crypto enthusiasts were busy consolidating and rebalancing during the last gasp of 2021. Finder.com surveyed 2,013 internet users in the United Kingdom in December 2021 with varying results.
Since the last survey conducted in October 2021, U.K. crypto ownership crept up by 1 percentage point from 5.2% to 6.1%, while Ether (ETH) dominance continues to manifest. Coming in at third place, just behind Singapore and Australia, the U.K.’s Ether ownership among crypto holders consolidated at 32.9%, with XRP the third-most widely held crypto, at 17.4%.
Curiously, interest across the 27 countries that Finder.com surveyed shows that the global average adoption rate for Ether decreased from 28.2% in October to 24.4% in December. U.K. ETH holders are holding the line, while the world’s ETH ownership declines.
There are no prizes for guessing the U.K.’s most popular cryptocurrency. Bitcoin (BTC) takes first place at 42.8%, but it is also showing weakness. While a 42.8% figure almost reflects the Bitcoin dominance ratio, it has plummeted from highs of 56.7%.
The overall cryptocurrency market dipped considerably in December, while analysts’ predictions missed the mark for a $100,000 BTC in 2021. The overriding crypto sentiment has been bearish since BTC first wicked to $42,000 in early December.
The story of the IreneDAO NFT craze started in October when 28-year-old Chinese crypto influencer and model Yuqing Irene Zhao came up with the idea for “So-Col” with her business partner, Benjamin Tang.
So-Col is short for “Social Collectables,” Irene explained to Cointelegraph, and the platform aims to help content creators monetize their content and build communities with their fans.
Branded as the “decentralized version of OnlyFans, Discord, Twitch, and Patreon,” the platform allows content creators and influencers to convert their social media content into non-fungible collectible items (NFTs.) It is powered by StarkWare’s layer-two solution StarkEx and leverages the decentralized ID protocol.
Fast-forward to Tuesday last week, Tang and Irene launched a sticker pack for Irene’s Telegram community to use on the messaging app. The stickers feature superimposed photos of Irene with meme slang text used by members of the crypto community like “gm”, “wen Binance”, and “yes ser.”
The sticker pack immediately gained a lot of traction, reaching 2,000 installations within four days according to Irene. On Wednesday, she was contacted by a fan called “libevm” – who told Cointelegraph they would prefer to stay anonymous – on Twitter, who suggested that she consider turning the sticker pack into NFTs.
Irene agreed, and they tokenized the stickers into 1,106 NFTs on the OpenSea marketplace by Friday. The NFTs are described as an “access pass” to the DAO’s “Genesis Tribe,” initially distributed with a free mint. They’re currently trading at a floor price of 1.47 Ether ($4,668), with a total volume traded of 2,000 Ether ($6,351,180).
“We at So-Col thought it was a great idea as we wanted to create a prototype for our core concept of a community-driven creator economy. We then extended the idea into a DAO, and "libevm" and my co-founder Ben hacked it together within a day,” she explained to Cointelegraph.
This Daily Dose was brought to you by Cointelegraph.