Here are the most important headlines of November 19th 2018:
A $318 Million Art Sale Registered on Blockchain
The cryptocurrency market is finding its way to our day-to-day lives as we speak. Recently, An American Place: The Barney A. Ebsworth Collection Evening Sale hosted by Chrtistie’s in New York. The total amount raised by thirteen artists was an amazing $317,801,250. The most notable piece sold was Chop Suey (1929) made by Edward Hopper. This painting was bought for a total of $91,875,000. Other notables names sold are :
- Willem de Kooning’s Woman as Landscape (1954-55) – $68,937,500
- Jackson Pollock’s Composition with Red Strokes (1950) – $55,437,500
- Arshile Gorky with Good Afternoon, Mrs Lincoln – ($14,037,500)
But the most important – the auction was made in partnership with Artory. Artory can be described as “a blockchain-based Registry tracks provenance for art and collectibles, leveraging the industry’s first object-oriented database.”. A total of 42 art pieces were sold and stored on Artory’s private Ethereum blockchain implementation. The Artory blockchain keep all the necessary information for an art peice such as : sales, final prices, auction dates, item titles, restorations and even thefts.
With Artory, all the buyers have a secure and immutable digital record of the sale, proving ownership. But one thing that Artory doesn’t store on its blockchain are the name of the buyers – for privacy reasons. They could prove the ownership by the Digital certificate issued every time and art piece is sold.
The ETF, The Dump and The Bitcoin’s Price
The Good: Bitcoin will have its first ETF this week. With the $HODL ticker. Why the HODL ticker you might wonder? Well, this explains it all. The ETF is set to launch in only a few days. And, it appears that the market is ready for it. A Reddit user called AT82DZ compared Bitcoin’s graph with the Gold one:
Full thread here. Indeed, the graphs look similar. But, its important to note that the gold chart represents the evolution over the 50 years while the Bitcoin one is only for 2 years. Another thing to take into consideration is the fact that Bitcoin is a high volatile asset. Also, the evolution of Bitcoin was astonishing and fast. It took Bitcoin 1789 days to reach $1,000 for the first time. 1271 days to reach $2k. 23 days to reach 3k. And so on, you can check the Bitcoin growth evolution. Same goes with the decreases in price, unfortunately.
However, a Bitcoin ETF could be beneficial – as it might improve the price over faster period of time. That doesn’t mean that once the ETF is live the BTC will ‘go to the moon’ – but we can expect to see a bounce in a few months.
The Bad: The dump continued today and Bitcoin dumped under $5,000 on Kraken Exchange. The dump didn’t stopped and some users think this is related to the BCH ABC and BCH SV exchanging the funds to USD. But also, there might be another reason. There are a few days before BAKKT and the first Bitcoin ETF will go live. And institutional investors wants to buy crypto as cheap as possible. However, even if Bitcoin will have its first Bitcoin ETF – it doesn’t mean the clients will rush in to buy crypto. Same with Bakkt. It took Bitcoin 10 months to grow from $1,000 to $5,000 last year. And another one to reach $19,000. Same thing with the decrease in price. It took Bitcoin 10 months to reach $5,000 value again from its top value.
The Ugly: The price will probably stay in this region or even decrease in the short term. The ETF & Bakkt don’t guarantee that institutional investors will rush into crypto. Besides this, the demand for cryptocurrency is way lower than last year. And you can see this using Google Trends. On a more optimistic note, its possible that a few investors will get into cryptocurrency. Hopefully, the bears won’t be there to tear their investments apart. Moreover, there’s another ugly part of the cryptocurrency that needs to end: The BCH dispute.
Tim Draper’s Investment Fund Hosted a Private CEO Summit For Its Portfolio Companies
Tim Draper knows how to manage its investment portfolio. He may not be the best Bitcoin price predictor – but he knows hot o manage its portfolio companies. Recently, Draper Network hosted a private summit called DVNCEO (Draper Venture Network CEO Summit ). Here, companies like Vechain, Aelf, Ledger, Gridcube, IoTex and ODX, could meet representatives from established corporations – such as Panasonic, Nestle, Ford, Siemens, Delta Airlines, Capital One and many others.
IoTeX is proud to be a @DraperNetwork Portfolio company and invited to attend #DVNCEOsummit representing the #blockchain sector, having 1-on-1 meetings with 60+ Big Corporations like #Panasonic, #DeltaAirlines, #Siemens, #CapitalOne, #SAP, #StateFarmInsurance, #TATA and more! pic.twitter.com/eUtAn7vMrf
— IoTeX (@iotex_io) November 16, 2018
There aren’t many information about the discussions from the summit, as it was a closed doors summit. But, there’s a possibility to see a few new partnerships for the Draper Ventures portfolio companies. Even the bear market is still here, it’s nice to see that blockchain and similar fintech technologies are still in demand.
Blockchain Gaming – Soon on PS4
You may soon play your favorite blockchain game on PlayStation 4. How’s that possible? Due to the launch of Non-fungible Tokens (NFTs). Arcade Distillery, a company creating titles for PS Vita, PS4, Xbox One and Nintendo Switch, is now working to build a PS4 game with the Ethereum blockchain integrated.
Plague Hunters is a turn-based strategy RPG game build on the Ethereum blockchain. The game will be unfortunately a single player one – but will have some PvP elements vs NPCs. The game will be free-to-play and will also have a P2P marketplace where users could purchase different in-game rewards. The game has recently passed the Play Station’s terms and conditions alongside with the Sony Review Process – even though the game has elements of blockchain technology in it.
If the game will manage to be available on PS4 – it will be the first among his type and will probably set and example for others that a blockchain game can work on PS4 too. Plague Hunters will be launched in Q1 2019. There are also PC and Nintendo Switch planned, where the team works as we speak. There’s also the opportunity to be listed on Xbox One, but the team cannot declare nothing about that yet.
Other Important News
- Cryptocurrency Is ‘a Big Deal’ But Needs Institutional Investment, Says KPMG Report
- Kraken Calls Bitcoin SV (BSV) an “Extremely High-Risk Investment
- Op-Ed: The Bitcoin Cash ‘Hash War’ was Never [Just] about the Hash
- Bitcoin Falls Below $5,000 for the First Time in 2018 on Coinbase
- Bitcoin Mining Firm Is Using Green Energy to Realize Impressive Profits
If you’ve missed yesterday’s news, you can check them our here: Daily Cryptocurrency News – 18th November 2018
Image Source: mining
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