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Weekly Roundup: Binance Announces NFT Marketplace Plans, Cryptolocally Launches Crypto Academy

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2021 is the year of non-fungible tokens. The NFT release in memory of Chadwick Boseman and TIME Magazine’s plans to integrate NFTs are some of the recent proofs. This week, Binance announced plans to launch an NFT marketplace. To learn more about this upcoming launch and other top stories, please read on.

Binance Announces Plans to Launch NFT Marketplace

Binance has announced plans to launch an NFT marketplace in June 2021. The company wants the marketplace to become the biggest non-fungible token trading platform, allowing users to mint, buy, and sell NFTs.

Binance wrote: “We aim to create an intuitive digital platform, bringing together artists, creators, and crypto enthusiasts from around the world. Furthermore, Binance NFT will share the same account system as Binance.com.”

Binance will charge a one percent nominal fee, and creators will get a one percent royalty fee for all subsequent sales.

CryptoLocally Acquires Finance Bridge Trading Academy

Finance Bridge Trading AcademyThe world’s first truly decentralised P2P trading platform, CryptoLocally, has recently revealed its acquisition of Finance Bridge Academy, Africa’s fastest-growing online trading school.

With this acquisition, CryptoLocally has launched the CryptoLocally African Academy to enable its African users to learn more about cryptocurrencies and crypto trading.

“Africa is home to millions of tech-savvy youth who are very eager and receptive to technological innovations, especially for innovations that may give them the opportunity to achieve financial freedom and stability. Needing and eager to learn, they are the perfect demographic to introduce this burgeoning asset class that will revolutionize financial services in the near future and step towards a more equitable financial system in the region,” says Hugo Campanella, co-founder of CryptoLocally.

Cardano Deploys Blockchain Project in Ethiopia

Cardano has collaborated with the Ethiopian government to deploy “a blockchain-based student and teacher ID and attainment recording system.” This system will verify grades and monitor performances remotely.

The identity solution, Atala PRISM, will create immutable records across 3,500 schools, five million students, and 750,000 teachers. The system will also reduce grade fraud and enable employers to verify the grades of job candidates.

The collaboration is in line with the government’s 2025 digital transformation strategy. The country is also exploring the application of the PRISM platform in the agriculture supply chain, healthcare, and transport.

In another initiative, Cardano will partner with World Mobile Group to offer sustainable internet connectivity to subscribers in Tanzania and Zanzibar. Thanks to the digital identity solution Atala PRISM, subscribers will have access to digital banking services, healthcare, and education.

Bundle Africa Adds More Tokens

Bundle Africa has recently added ten more tokens: PancakeSwap, Uniswap, Venus, VeChain, BitTorrent, Chiliz, WINK, Holo, Stellar, and SafePal. This brings the total number of digital assets on the platform to 25.

The Binance-backed crypto app has shown tremendous growth, processing transactions worth more than $85 million in 2020.

To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.

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Join Us for a Live Telegram AMA with Cryptolocally on Monday, May 17

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Telegram AMA with Cryptolocally

Join us on Monday, May 17, at 2pm EAT (12pm WAT) for a Live Telegram AMA (Ask Me Anything) with Cryptolocally’s co-founder Hugo Campanella. 

Cryptolocally is a fast-growing peer-to-peer crypto exchange that has entered the African market with the intention to provide more crypto on- and off-ramps as well as DeFi earnings opportunities to Africa’s crypto community.

Join us in our Telegram Community to ask Cryptolocally any question you’d like on Monday! 

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Weekly Roundup: Bitcoin Drops Below $50,000, Paxful Billboards Hit Lagos

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Bitcoin chart

In this week’s news roundup, we will cover the recent drop in the price of bitcoin, Paxful’s new advertising in Lagos, and the upcoming CryptoLocally AMA that we will host on our Telegram group.

Bitcoin Drops Below $50,000 After Elon Musk’s Energy Tweet

In an interesting twist of events, Tesla has stopped accepting bitcoin for car purchases. As a result of the announcement and the company’s reasoning, the price of bitcoin dropped below $50,000. Tesla’s stock also fell by about 1.3 percent in after-hours trading, according to an article on MarketWatch.

Bitcoin took a hit after Elon Musk tweeted his concerns over the effects of bitcoin mining on the environment. The tweet read: “Tesla has suspended vehicle purchases using bitcoin. We are concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.”

 

The announcement that the company was going to start accepting bitcoin payments in February affected the market positively. However, several critics did not support Tesla’s decision to embrace bitcoin, citing that the decision went against the company’s goal to safeguard the environment. This rising criticism could have pushed Tesla to its new decision.

“Cryptocurrency is a good idea on many levels, and we believe it has a promising future, but this cannot come at great cost to the environment,” Musk observed.

Tesla will, however, not sell the bitcoin it had invested. Also, the company will start accepting bitcoin as payment again when mining shifts to cleaner energy. 

Paxful Billboards and Bumper Stickers Hit Lagos

The rising adoption of bitcoin in Nigeria has motivated Paxful to deploy new advertising tools to attract new customers. These tools include bumper stickers and billboards.

According to the P2P platform, there are one million crypto users in Nigeria and 1.1 million monthly trades. Moreover, $100 is spent on each transaction on average, and about $65 million worth of trades are completed each month.

Paxful is also giving away $20 worth of bitcoin to lucky traders and their favourite trade partners this Eid Al-Fitr. To participate in this giveaway, you should have an ID verified account. Participants can enter the giveaway on any of the Paxful social media accounts. Simply enter both your usernames and tag a Paxful user in the comments section. The giveaway will close on May 14 at 11:59 PM EST. Paxful will announce the winners on the blog.

CryptoLocally to Hold AMA on Bitcoin Africa’s Telegram Group

CryptoLocallyCryptoLocally and BitcoinAfrica.io have partnered to hold a Telegram Ask Me Anything (AMA) session on Monday at 2 PM East African Time (GMT +3 hours). The purpose of the AMA is to help crypto users and enthusiasts in Africa to learn more about CryptoLocally.

If you are looking for a P2P platform, join us on Monday for a friendly and informative session with CryptoLocally. Group members will have a chance to ask questions as well. Use this invite link https://t.me/BitcoinAfricaioCo to join our Telegram group ahead of the Monday AMA.

To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.

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Weekly Roundup: Bitzlato Adds Lemonade Finance, NFT Initiative AFEN Partners with Quidax

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nft initiative

In this week’s news roundup, we will cover the new partnership between Bitzlato and Lemonade Finance and other top crypto stories.

Bitzlato Adds Lemonade Finance

Bitzlato, a peer-to-peer (P2P) crypto exchange and a new entrant in the African market, has added Lemonade Finance as a payment method. The partnership will enable users to buy and sell crypto on the platform at zero fees.

Furthermore, Nigerian users can now send Naira to MPesa at zero cost. They can also send local currency to users in Ghana and other countries at no cost.

“This partnership will provide a much-needed gateway that enables the markets we serve to seamlessly interact with each other in a borderless and open environment. We seek to break the barriers that presently exist for cross-border transfers and enable our users to generate value through the opportunities that accrue from cryptocurrency trading,” said Mike Lunov, the CEO of Bitzlato.

Lemonade Finance is a payment platform that facilitates borderless payments within and outside Africa.

NFT Initiative AFEN Partners with Quidax

AFEN Partners with QuidaxThe first government-backed NFT initiative in Africa, AFEN, has partnered with crypto exchange Quidax. The collaboration will allow AFEN to list its token on the exchange.

The AFEN initiative wants to use blockchain technology to revolutionise opportunities in Africa with a focus on arts, education, and real estate. AFEN is using Binance Smart Chain (BSC) for its project.

“We will have the exclusive right to mint legacy African arts upon the launch of our NFT marketplace, adding value to Africa’s art. The $Afen token will be used for transactions on the NFT marketplace. We will release a new roadmap that will include the development stages of its NFT platform as well as extensive tokenomics,” the company recently said.

Crypto Demand on PayPal Exceeds Expectations

According to PayPal CEO Dan Schulman, the demand for crypto on the platform has exceeded their expectations. The payment platform announced the buy and sell crypto service in October 2020. The service became available in November 2020.

“Demand on the crypto side has been multiple-fold to what we initially expected. There is a lot of excitement,” he told TIME Magazine.

He also said that in ten years, the use of cash and credit cards will go down because financial transactions will be taking place through smartphones.

“When all of those things start to happen, then central banks need to rethink monetary policy as well because you cannot just issue more paper money into the system because people are not using paper money,” Schulman explained.

To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.

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