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Business

Get Ready For This African NFT Marketplace

Nandi, the new NFT marketplace for African digital art, is coming soon.

The African Digital Art Network, a global collective of Black digital artists, has launched a new platform to let Black artists and creators across the African diaspora promote their work and get compensated for it.

The platform was launched by the Network at the AfricaNXT conference in Lagos, Nigeria, earlier this month. Chinedu Enekwe, who is also a co-founder of the African Digital Art Network, co-founded the Nandi NFT Marketplace.

According to Enekwe, the Nandi Marketplace was inspired by a conversation he had with Jepchumba, a co-founder of the African Digital Art Network. Jepchumba was at first apprehensive of getting involved with NFTs, according to Enekwe, because no one had contacted her with a genuine community focus.

Enekwe, a graduate of Howard University School of Law who has a bachelor’s in engineering from Maryland, said: “I explained my idea, to launch an NFT marketplace and create an ecosystem, build an ecosystem that would include a studio for creators that has the ability to fundraise. But more than anything, it’s a way to help brands and creators to get paid.”

Non-fungible tokens, or NFTs, are digital tokens that reside on a blockchain and serve as proof of ownership of a digital file. Osinachi and other African artists have developed new ways to succeed in this medium. Osinachi created art using Microsoft Word. At Christie’s London, an Osinachi collection titled “Different Shades of Water” sold for more than $200,000.

The African Digital Art Network is also unveiling the Nandi Cowry community, which Enekwe describes as a global network of cultural leaders, tastemakers, and creators, in conjunction with the introduction of the NFT marketplace.

The community will be represented with a collection of 10,000 NFTs designed by Johannesburg-based artist Sindiso “R!OT” Nyoni and minted on the Celo proof-of-stake blockchain. The NFTs, according to Enekwe, will have three degrees of membership: Tribe, Chief, and Founding. The Celo stablecoin ( CUSD), will be used to price each tier, with prices ranging from $25 to $10,000.

Enekwe argues that his decision to use the Celo blockchain stems from a desire to be carbon negative or neutral. The Nandi NFT marketplace will support Ethereum once it switches to proof-of-stake.

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Business News

Dynamic Bitcoin Helps Crypto Market Surpass $2 Trillion Barrier

As the first quarter comes to a close, Bitcoin (BTC) and other cryptocurrencies look to be gaining popularity.

Cryptocurrency has surpassed the $2 trillion mark and is proving to be very durable in the face of global turmoil.

Bitcoin has fully recovered from its early-year losses as of Tuesday. In the first 30 days of the year, BTC went from $47,733.40 to $35,070.10, and it hasn’t recovered since.

Bitcoin, the market leader, broke out from the limited $34,000-$44,000 range it had been trading in for the bulk of 2022 on Monday, reaching an all-time high of $47,765.

As a result of a steady rebound from a low near $40,000 on March 21, the cryptocurrency is up 18 percent. The top cryptocurrency was trading at $47,899 on Coingecko on Tuesday, up 16 percent in the last seven days.

Despite the positive market movement, analysts cautioned that declaring the end of Bitcoin’s price volatility is premature.

Market analysts will hold off on making any conclusions about the volatility until the price continues to rise for at least another week.

Its relative stability, at least in comparison to recent performance, contrasts sharply with stock markets, traditional currencies, and even safe-haven gold, all of which have been roiled by Russia’s invasion of Ukraine and Federal Reserve tightening.

Its 30-day volatility is around 4%, according to futures trading website Coinglass, which is more than two-thirds that of June 2021. This year’s high was 4.56 percent on March 16.

This metric shows how far a currency has deviated from its own established norms, and Bitcoin has continued to see huge swings, including a 17 percent increase on March 1.

It is, however, significantly less volatile than it was in 2021, when it could swing by as much as 40% in a single day.

Touching The $2 Trillion Mark

On Friday, the overall value of the cryptocurrency market surpassed $2 trillion, according to analytics firm CoinMarketCap.

To put it in context, the market momentarily reached $3 trillion on Nov. 10 when Bitcoin hit $69,000.

The growth of coins and tokens has aided the sluggish ascent back past $2 trillion – CoinMarketCap now lists 18,511 cryptocurrencies, an increase of around 5,000 since November.

While Bitcoin remains the most expensive cryptocurrency, its market share has steadily declined from 70% of total value in early 2021 to 42% on Tuesday.

Many cryptocurrency investors believed they could predict Bitcoin’s fate before the volatile cryptocurrency deserted them financially.

Around the same time as Bitcoin, Ethereum (ETH) hit a day high of $3,431 per unit.

Bitcoin currently holds 40.3 percent of the $2.26 trillion market, while Ethereum  controls 18.1 percent.

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Business News

Hacker Drains $622M From Axie Infinity’s Ronin Ethereum Sidechain

Ronin, an Ethereum sidechain created for the popular NFT game Axie Infinity, was hacked, and an estimated $625 million in cryptocurrency was stolen from its bridge.

Sky Mavis, a developer, announced that the exploit occurred on March 23 but was just detected yesterday. According to the team’s report, the attacker utilized “hacked private keys” to carry out the exploit and so was able to fabricate transactions to claim the monies.

The attacker took 173,600 WETH or Wrapped Ethereum (almost $597 million) and 25.5 million USDC stablecoin (nearly $25.5 million), totaling around $622 million in crypto assets. The majority of the assets stolen are still in the hacker’s wallet.

According to the report, the attacker was able to sign transactions from five of the Ronin network’s nine existing validator nodes, which is the required threshold for signature approval. The attacker eventually acquired access to Sky Mavis’ four validators as well as one operated by Axie DAO.

“The validator key scheme is set up to be decentralized so that it limits an attack vector, similar to this one, but the attacker found a backdoor through our gas-free RPC node, which they abused to get the signature for the Axie DAO validator,” the report reads.

“This traces back to November 2021 when Sky Mavis requested help from the Axie DAO to distribute free transactions due to an immense user load,” it continues. “The Axie DAO allowed  listed Sky Mavis to sign various transactions on its behalf. This was discontinued in December 2021, but the allow list access was not revoked.”

Sky Mavis says it has enlisted the help of law enforcement, Chainalysis’ forensic cryptographers, and its own investors to “ensure that all money is recovered or refunded.”

Axie Infinity Co-founder Jeff Zirlin described it as “one of the bigger hacks in history.” Some of the drained funds have already been sent from the attacker’s wallet to exchanges, and Zirlin said that “there’s a chance that they can be identified and brought to justice.”

Sky Mavis has disabled the bridge that connects Ronin to the Ethereum mainnet, allowing users to send dollars and assets back and forth, as well as the Katana decentralized exchange that runs on Ronin, as a result of the security incident.

Axie Infinity’s AXS and SLP tokens, as well as Ronin’s own RON governance token, are currently safe, according to the business. Sky Mavis discovered the flaw after someone tried to withdraw 5,000 ETH of their own money from Ronin and noticed that the bridge was down.

Wormhole, a cross-chain Ethereum/Solana bridge that was attacked for $320 million worth of WETH in early February, appears to be comparable to the Ronin bridge hack. Jump Crypto eventually repaid the stolen monies, presumably as a bet on the Solana ecosystem’s future.

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Business News

Sudan’s Apex Bank Warns Citizens against Dealing in Cryptocurrencies


According to the Sudan News Agency (SUNA), the Central Bank of Sudan (CBOS) has warned nationals of the Northeast African country against dealing in any sort of cryptocurrency due to the considerable dangers involved. Financial crimes, electronic piracy, and the possibility of digital currencies losing their value are among the high risks mentioned by the apex bank. Cryptocurrencies pose legal dangers in the country, according to CBOS, because they are not defined as money or even private money under the Republic’s laws.

Furthermore, the currency lacks material cover and is not issued by authorized or accredited authorities that legally bind them, according to CBOS, which also identified a global trend of promoting currency trading on social media.

According to the Brookings Institution, Africa is the third-largest growing cryptocurrency market in the world and the fastest-growing among developing economies.

Kenya, South Africa, and Nigeria are also among the top ten nations in the world for cryptocurrency adoption, according to Chainalysis’ 2021 Global Crypto Adoption Index. However, not all African countries are accepting of cryptocurrencies. According to research from the Library of Congress in the United States, 23 of the 51 countries that have banned cryptocurrencies are African countries.

While four African countries, Algeria, Egypt, Morocco, and Tunisia, have enacted outright bans on cryptocurrency, 19 others, including Nigeria, Africa’s largest economy, have imposed implicit limitations.

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Business News

Bitcoin and Ethereum Spike by 5% Amid Crypto Market Surge

As the entire crypto market surged on Sunday, the price of Bitcoin and Ethereum skyrocketed and pushed over recent price limits. According to CoinMarketCap, Bitcoin has risen more than 5% in the last 24 hours to $47,020, and Ethereum has risen 5% to $3,292. Polkadot (DOT) is up 7% in the last 24 hours, Dogecoin (DOGE) is up 6%, Solana (SOL) is up 5%, Avalanche (AVAX) is up 4%, XRP is up 3%, and Cardano (ADA) is up 3%.

It’s unclear what sparked the rebound, but it’s likely a combination of short- and long-term causes, such as crypto news and larger market trends.

The S&P 500, for example, has been rising for a week, and Bitcoin’s correlation with stocks is at a 17-month high. Do Kwon, the architect of the Terra (LUNA) system, has stated in a Twitter Space that he intends to buy billions of dollars in Bitcoin and store it in a reserve to back the stablecoin TerraUSD (UST). The official Bitcoin wallet address of the Luna Foundation now owns over $1.1 billion, and Kwon intends to amass up to $10 billion in BTC.
According to Glassnode, Bitcoin exchange balances are at their lowest in more than three years, indicating greater demand and interest in transferring Bitcoin off exchanges to cold storage solutions such as hardware wallets.

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Business News

ExxonMobil plans Bitcoin mining in Nigeria

ExxonMobil, an American oil firm, has completed preparations to mine Bitcoin in Nigeria.

Eric Obrock, ExxonMobil’s NGL Trade Outlook Advisor, proposed Bitcoin Proof-of-Work mining for unused pure gasoline, which could reduce CO2 emissions by 63 percent.

According to several reports published on Saturday, the move is aimed at phasing out the use of pure gasoline in mills.

According to a source, the goal is to convert wasted natural gas into electrical energy, which will be used to power Bitcoin miners housed in shipping containers. North Dakota has already started the initiative.

The operation, which started in January 2021, is specifically designed to reduce international gasoline flaring. ExxonMobil is a member of the World Financial Institution’s “Zero Routine Flaring by 2030” project.

Though no date has been set for when the plan would go live in Nigeria, the West African country is one of the few countries chosen for the mission. Bitcoin and other cryptocurrencies are illegal in Nigeria.

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Business News

African Digital Art Network Launches Nandi NFT Marketplace on Celo

By introducing the NFT marketplace Nandi, the African Digital Art Network, a global group of Black digital artists, is taking its first steps into Web3.

The new website promises to provide a forum for Black artists and creators to promote their work while also allowing them to gain financially from Web3 across the African diaspora. The platform was introduced by the African Digital Art Network earlier this month during the AfricaNXT conference in Lagos, Nigeria.

Chinedu Enekwe, who is also a Co-founder of the African Digital Art Network, co-founded the Nandi NFT Marketplace. The Nandi Marketplace is named after Queen Nandi, the mother of the  legendary Zulu monarch Shaka. Enekwe, a Howard University School of Law graduate with a Bachelor’s Degree in Engineering from the University of Maryland, said: “I described my plan to start an NFT marketplace and build an ecosystem, which would include a studio for creators with the potential to generate funds. But, above all, it’s a means to assist companies and creators in receiving payment.”

The Nandi Marketplace was born out of a conversation Enekwe had with Jepchumba, a co-founder of the African Digital Art Network. Jepchumba was first apprehensive to get involved with NFTs, according to Enekwe, because no one had contacted her with a genuine community focus.

Non-fungible tokens, or NFTs, are digital tokens that reside on a blockchain and serve as proof of ownership of a digital file. Osinachi and other African artists have developed new ways to succeed in this medium. Osinachi created art using Microsoft Word. At Christie’s London, an Osinachi collection titled “Different Shades of Water” sold for more than $200,000.

Black artists and innovators have a long history of being unable to profit from their work, with many being pushed into unethical contracts or unintentionally signing away their intellectual property rights. Russell Simmons, co-founder of Def Jam Records, introduced the Masterminds of Hip Hop series of NFTs last year to help recompense artists, stating at the time that “respect for the founding fathers of hip hop needs a renewal.”

The African Digital Art Network is also unveiling the Nandi Cowry community, which Enekwe describes as a global network of cultural leaders, tastemakers, and creators, in conjunction with the introduction of the NFT marketplace. The community will be represented with a collection of 10,000 NFTs designed by Johannesburg-based artist Sindiso “R!OT” Nyoni and minted on the Celo proof-of-stake blockchain. The NFTs, according to Enekwe, will have three degrees of membership: Tribe, Chief, and Founding. The Celo stablecoin, CUSD, will be used to price each tier, with prices ranging from $25 to $10,000.

Enekwe argues that his decision to use the Celo blockchain stems from a desire to be carbon negative or neutral. The Nandi NFT marketplace will support Ethereum once it switches to proof-of-stake.

“There are so many Black communities that have faced environmental injustice that adding to the future of their degradation just doesn’t sit well with us,” he says.

Building a marketplace is a fantastic start, but it’s not the solution, according to Enekwe. “What is the solution is having possibilities through our studio to engage with brands and other creators—being able to promote the finest Black artists.”

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Business News

Sensi will revolutionize the DeFi space with NFTs and smart yield farming

Sensi, a nearly one-year-old BNB Chain decentralized finance (DeFi) initiative, is set to take a major step ahead.

Sensi token holders have been staking their tokens since last June, providing a risk-free way for consumers to accumulate more Sensi tokens. A staking lock is valid for 28 days, and you can prolong it every week to compound your earnings, which are paid out weekly as a percentage of the user’s holding in comparison to the entire locking pool.

Sensi v3 and the first Sensi non fungible tokens (NFT), which have built-in usefulness to minimize trade fees and extra staking (Sensi locking) incentives, are likely to be released soon, according to the Sensi team. The Sensi Smart Yield platform, which has been in the works for a long time, will now have a more specific launch path, according to the team.

Sensi v3

The forthcoming migration to the v3 core contract will reduce supply for potential future trading pairs on central exchanges while also introducing new capabilities that will interact with Sensi’s NFT goals. The Sensi token’s supply will be lowered by six digits, and users will be able to claim their Sensi v3 tokens in the near future.

Smart Yield

Smart Yield, Sensi’s flagship product, is set to launch in the next two months, after the team has been working on it with development partner FirstBridge since early summer 2021. Smart Yield enables anyone to invest in DeFi and get the benefits of farming profits with less risk than traditional farming. Smart Yield awards will be paid in Sensi tokens. Sensi’s Smart Yield contract, which supports the token value, will buy those reward tokens on the open market. Sensi will also be deflationary by burning a portion of the tokens each month.

Smart Yield invests in 10–15 PancakeSwap liquidity farms automatically. The team has stated that it wants to grow to many farms with varying levels of risk and become a cross-chain initiative. In addition, Smart Yield plans to include NFTs into its platform, implying that an NFT will be created and issued to a Smart Yield user.

The amount of BNB and Sensi staked, as well as the benefits that come with it, will be factored into this tradable NFT. Smart Yield users can sell their NFTs to buyers for a higher-than-market price.

Utility NFTs

Sensi has announced a sale of a unique and limited batch of 150 extraordinary utility NFTs (dubbed Rare and Legendary NFTs) that will be held soon. Holders will receive additional Sensi locking benefits as well as trading cost savings.

The Sensi team appears to have devised a multi-token strategy that will transform the DeFi space. The deflationary Sensi coin appears to be a true gem to own, with a market valuation of under $2 million at the time of writing.

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Business News

Bitcoin roars past $46K

Buying activity in Bitcoin (BTC) increased over the weekend as momentum indicators improved. The cryptocurrency broke over initial resistance at $46,000, but the relief rally could be stifled by tougher resistance at the 200-day moving average, which is now at $48,289 dollars. At the time of reporting, Bitcoin was trading at roughly $47,500, up 5% over the previous 24 hours.

On the daily chart, the relative strength index (RSI) is approaching overbought territory, similar to what happened last October before the sell-off. However, investors appear to be aiming for a 50% reversal of the four-month decline, which would result in more upside to $50,966.

The weekly chart’s momentum signals have greatly improved from the July low of $29,400. On the monthly chart, momentum is still bearish, which could delay a substantial price rebound in the near term.

On paper, the amount of coins entering this age range is already at 480k BTC, which is outstanding, but far below the levels observed in previous key bullish impulses in 2019 and 2021. Despite this, it is equivalent to the 510k BTC accumulation in March 2020, which is noteworthy given the magnitude of the economic shock comparable to present fighting, commodity inflation, and supply chain disruptions.

A continuous upward trend in both of these supply-held metrics would be a positive indicator, whereas a fall would imply a lack of incoming accumulation while LTHs increased their expenditure (Bitcoins stronger holders).

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News Opinions

Top Bitcoin Games For 2022

If you enjoy gaming and cryptocurrency, we have some exciting news for you! There are a number of mobile games that will pay you in bitcoin (BTC) if you play them. This guide will provide you with a comprehensive overview of the finest bitcoin games available in 2022.

  1. Bitcoin Alien Run

This game is for you if you are a fan of SuperMario Kart, it is just the 2D Version. Bitcoin Alien Run is a mobile bitcoin game that allows you to earn bitcoin while playing a fun 2D runner game on your smartphone. You join Daniel D’Alien on daily tasks in Bitcoin Alien Run, and if you complete them successfully, you will be awarded in BTC.

Both Android and iOS versions of the game are available. Additional advantages of Bitcoin Aliens include a 0.0002 BTC minimum payout, weekly payments on Tuesdays, and customer assistance.

  1. Spark Profit

Spark Profit is a fun bitcoin market prediction tool that is interactive. This financial trading simulation allows you to make predictions on real-world markets like foreign exchange and cryptocurrency.

The more your forecasts are correct, the more you gain. You can cash out your earnings in BTC once you have accumulated enough points. Spark Profit began operations in 2013 and claims to have distributed more than half a million dollars to date. The software pays out weekly to its over 100,000 users and includes a variety of resources and courses to help you get the most of your trading experience.

The game is accessible as an app for iOS and Android devices, as well as a web-based game. Additional features of Spark Profit include: a PC and mobile version and weekly earnings of up to $100 are possible. To withdraw, you must have a minimum balance of 20,000 points. Personal data privacy systems are in place, as well as customer support.

If you appreciate financial markets and have a sense for speculation, this game is for you.

  1. Spells of Genesis

Spells of Genesis is one of the most popular bitcoin role-playing games. The game combines elements of a trading card game with arcade-style gameplay.

Spells of Genesis is a free blockchain-based game that allows you to acquire, trade, and combine orbs in order to create the most powerful gameplay deck and test it against other players while exploring the mythological realm of Askian.

You may genuinely own your in-game items and cards on the blockchain using Spells of Genesis. As a result, you can earn bitcoin while playing the game. You can also collect blockchain cards, which are digital assets that can be stored on the Bitcoin blockchain and bought or transferred outside of the game.

You can learn more by reading the discussions in the community forum. Tradeable blockchain cards, BTC awards, an active community, and customer assistance are among the extra elements of Spells of Genesis.

Spells of Genesis is for you if you appreciate RPGs with the extra bonus of earning bitcoin and tradeable stuff.

  1. Satoshi Quiz

Satoshi Quiz is a free bitcoin game where you may win bitcoin by answering questions from various categories. You have a chance to win 1,000 satoshis for each question you successfully answer.

To win bitcoin, you must be logged in and one of the first three people to properly answer the question. The prizes are given out in a tiered method that varies from question to question. You can also choose between daily, weekly, and monthly awards.

Withdrawals require a minimum balance of 11,000 satoshis, and payments are made at the end of each week. Additional Satoshi Quiz features include live chat, customer assistance via Twitter and Facebook, a Premium Account, and a Faucet option.

Try Satoshi Quiz if you want to play an intellectually interesting game with bitcoin prizes.

  1. RollerCoin

RollerCoin is a bitcoin mining sim in which you compete with your friends to earn bitcoins. This bitcoin game is similar to bitcoin mining, only instead of performing complex calculations, you can earn bitcoin by completing jobs, missions, testing your skills, and playing games.

The game provides a unique experience in which you may be confronted with genuine duties such as electricity bills, data center repairs, rent, and air conditioning charges. Play side missions, do mini-tasks, update your data center, and more to boost your mining power.

Every five minutes, RollerCoin distributes a block reward to all participants based on their mining power. The platform was started in 2018 and has paid out a total of 1.65 BTC so far. On bitcointalk.org, you may follow the community’s debates.

Additional RollerCoin features include a minimum withdrawal amount of 10,000 satoshis, two-day payment processing, and, most crucially, customer assistance.

Do you want to start mining bitcoins? In this bitcoin game, you may learn about it in a fun, gamified way.

  1. Bitcoin Flip

Bitcoin Flip is a bitcoin exchange simulator game that allows you to learn the fundamentals of cryptocurrency trading while having fun. The free bitcoin simulator lets you exchange a number of digital assets including BCH, ETH, XML, and many others online.

Bitcoin Flip provides real-time prices, infographics, and other resources to help you gain a better understanding of cryptocurrency trading. Before you invest in crypto, you can test your tactics against other traders. When you’re ready, you can trade BTC with one of three top-rated brokers.

Bitcoin Flip, unlike the other games on this list, does not pay out in cryptocurrency. It is, however, an excellent game for beginners interested in learning more about bitcoin trading.

Additional highlights of Bitcoin Flip include a mobile version for iOS and Android, multi-asset compatibility, the ability to trade cryptocurrency through a counterparty, and the fact that it is a free game.

If you’re new to bitcoin trading, Bitcoin Flip is a good place to start.