Blockchain and Cryptocurrency News Roundup

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  • May 2, 2022
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2nd May 2022

Here’s a short summary of some of the biggest headlines in Crypto: Central African Republic Adopts Bitcoin as Legal Tender, Second Country Following El Salvador, Web3 Running App STEPN Launches NFT Sneakers with STEPN, and finally, Hong Kong’s K11 MUSEA Launches Large-scale Showcase of NFTs

Central African Republic Adopts Bitcoin as Legal Tender, Second Country Following El Salvador

Central African Republic (CAR) has officially adopted Bitcoin (BTC) as a legal tender in the country.

As confirmed by the Chief of Staff to President Faustin Archange Touadera, Obed Namsio said the bill has been signed into law by the President. According to Namsio, the Central African Republic “is the first country in Africa to adopt bitcoin as legal tender,” Namsio said, adding that “This move places the Central African Republic on the map of the world’s boldest and most visionary countries.”

The CAR is one of the least economically buoyant countries in the world whose economy is solely dependent on mining. With the new legal tender, citizens, as well as businesses, will be able to transact in the digital currency, a trend that will be markedly different from other African nations, like Nigeria, known to have banned financial institutions working in the country from having business relationships with crypto trading service providers.

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Web3 Running App STEPN Launches NFT Sneakers with STEPN

Move-to-earn Web3 running app STEPN has partnered with ASICS to release a limited edition of “STEPN x ASICS NFT Sneaker” Mystery Box Collection.

The NFT sneakers collection was launched exclusively on the Binance NFT Marketplace and hosted on the BNB Chain.

The collection has been co-branded by STEPN and ASICS. Over 195,000 participants and subscribed tickets have been garnered so far for the collection.

ASICS is a manufacturer of performance athletic footwear, apparel, and accessories.

While the total trading value has exceeded US$10 million, the floor price has been maintained at over US$3,000 for the collection.

STEPN, Binance, and ASICS have jointly decided to donate $100,000 from the sale proceeds of the NFT collection to a charitable cause.

STEPN would reward users with crypto via its app for walking, jogging, or running, and to participate, a user must purchase an NFT and start either walking, jogging, or running outdoors to earn tokens. It also allows users to either spend their earnings within the Web3 ecosystem or withdraw the amount to an external account and cash out a profit.

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Hong Kong’s K11 MUSEA Launches Large-scale Showcase of NFTs

Over 200 pieces of art by more than 30 solo artists and NFT projects alike will be on display across nine floors, K11 MUSEA said. The artists vary in age from eight years old to world-class artists such as Tom Sachs and Takashi Murakami among others.

K11 MUSEA said that its ‘METAVISION’ exhibition is curating NFT art by some of the world’s top artists. All of the art on display is collectively estimated to fetch a total of over 26,000 ETH (approximately US$82 million / HK$646 million).

Hong Kong’s local 8-year-old artist Arthus Ng is one of the popular names to look out for at the exhibition as his recent digital drawing of snakes has caught many eyes.

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