Marshall Mathers III, better known as Eminem, joined the Bored Ape Yacht Club (BAYC) by purchasing one of the nonfungible token (NFT) Bored Apes for $462,000 on OpenSea's NFT marketplace. Eminem's Bored Ape depicts a gold chain necklace and khaki army cap that he wears in real life and has been officially added to his portfolio by OpenSea.
The NFT nicknamed the “EminApe” was created by GeeGazza in collaboration with Bored Ape. The transaction was completed by digital agency Six, which has previously worked with other celebrities in the NFT sector including Wu-Tang Clan, Tycho and Galantis.
This is not the first time that Eminem has invested in NFTs. The Missouri-born rapper currently owns several OpenSea NFTs with the handle "Shady Holdings." Eminem's portfolio also comprises a number of Lil Baby Doodles X NFTs, with Ditaggdogg#1, the rapper's stencil artwork and Superlative Apes #3880 being one of them.
The quantity of Bitcoin (BTC) held by private corporations increased significantly during 2021, building on increases from the previous year.
In a Monday tweet, on-chain analyst Willy Woo claimed that public companies holding “significant BTC have gained market share from spot ETFs as a way to access BTC exposure on public equity markets.”
This has been more noticeable since MicroStrategy’s “Bitcoin for Corporations” conference on Feb. 3 and 4, 2021. The online seminar aimed to explain the legal considerations for firms seeking to integrate Bitcoin into their businesses and reserves.
Michael Saylor’s MicroStrategy is a leading business intelligence firm and is known for being particularly bullish on BTC, owning almost $6 billion in crypto assets.
Cryptocurrency exchanges have an important role in driving adoption around the world, but even the biggest operations face significant challenges when trying to expand their services. The advent of Bitcoin (BTC) and the subsequent development and launch of numerous other cryptocurrencies have changed the way people look at transacting across the world. Dependency on traditional banking systems is no longer the only option available to people.
Blockchain networks and cryptocurrencies are able to bypass conventional financial systems and allow people to transact directly, without having to go through a centralized institution. In an ideal, cryptographically secure world, users would transact peer-to-peer, but there are some barriers to entry for the uninitiated. Therefore, most of those new to crypto use exchanges as their entry points into the ecosystem as they convert their fiat currency into their cryptocurrency of choice. In 2020, users are spoiled by choices with the sheer number of cryptocurrency exchanges operating internationally.
This Daily Dose was brought to you by Cointelegraph.