Greetings Munchers. We're back with our weekly crypto news updates

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Munch Newsletter:

Hello Munchers! 🍩

Here’s what we’ve got lined up for you today:

• Hot News
• Market insights
• Magic Coins
• Personality of the Day
• Crypto Tweets
• Learning Corner

🔥Hot news :

Time Magazine’s Person of the Year on Dogecoin and Bitcoin

• Elon Musk, the CEO of Tesla and SpaceX, has been named Time Magazine’s Person of the Year for 2021.
• During an interview, Musk stated that bitcoin is suitable as a store of value while dogecoin is more suited for transactions.
• Elon Musk said, “Even though it’s created as a silly joke, dogecoin is better suited for transactions.” Read more​

BAYC NFT got sold for $3,000 by mistake!

• Bored Ape Yacht Club NFTs are the most premium and well-known NFTs available.
• Now, despite being valued at $300,000, one of them has been sold for $3,015.
• The NFT was supposed to be listed for 75 ETH, but the holder accidentally placed it for 0.75 ETH. Read more​

Robinhood now has a cryptocurrency gifting feature

• Robinhood, a popular trading application, introduces a feature to gift cryptocurrency to friends and family.
• From December 22, the service will be available. The gift cards have unique designs and can also be personalized with a message.
• The receiver has 14 days to accept the gift once it is sent. If it isn’t accepted, the funds are returned to the sender. Read more​

📈Market insights

Polygon and Reddit’s Co-Founder have pledged $200M for Web3 Social Media

• A $200 million investment fund has been established by Polygon and Alexis Ohanian’s Seven Seven Six VC firm.
• It will concentrate on Polygon-based social media and gaming ventures.
• This is Alexis Ohanian’s second Web3 social media-focused fund to be unveiled since the beginning of November. He announced a $100 million fund last month in collaboration with Solana. Read more​

The USD Coin is now available on Avalanche

• USD Coin is now available on the Avalanche blockchain, increasing the total number of platforms supported to 7.
• USDT, the most popular stablecoin in the cryptocurrency industry, is already supported on Avalanche. However, in DeFi circles, there is still a huge demand for USD Coin.
• The stablecoin’s inclusion in Avalanche could help the platform’s DeFi ecosystem boost. Read more​

Thirty-five ventures to collaborate with Coinbase for NFT drops.

• Many celebrities, athletes, and famous business people are actively supporting NFTs and other upcoming ventures in the crypto space.
• Thirty-Five Ventures, a venture capital firm by basketball star Kevin Durant and Rich Kleiman, has announced a collaboration with Coinbase.
• Thirty-Five Ventures and Coinbase will partner to develop NFT drops. Read more​

💰 Magic Coins

The Sandbox (SAND)

• The Sandbox is a blockchain based virtual world allowing users to create, build, buy and sell digital assets in the form of a game.

• The Sandbox employs the powers of Distributed ledger technology by introducing the SAND utility token, which facilitates transactions on the platform
• SAND has became one of the Top Metaverse tokens in December, currently trading at $5.03 with a total market cap of $4.5 Billion. Read more​

Loopring (LRC)

• Loopring is an Ethereum based open protocol designed for the building of decentralized crypto exchanges
• Daniel Wang, a software engineer, and entrepreneur based in Shanghai, China, is the founder and CEO of Loopring Foundation.
• LRC is presently trading at $2.15 with a market cap of $2.8 Billion and currently available to buy at major crypto exchanges like P2PB2B, Binance, OKEx, CoinTiger, and FTX. Read more​

👨🏻‍💼 Personality of the day:

• Nayib Armando Bukele Ortez is a Salvadoran politician and businessman who is the 43rd and current president of El Salvador.
• He is a pro crypto supporter and made Bitcoin the legal tender for El Salvador on Sept. 7 2021.
• President Bukele kept on buying Bitcoins at major dips, with more than 1500 BTC till date in the National treasury. He also plans to launch a Bitcoin City and mine bitcoin with energy harnessed from local Volcano. Read more​

📱 Crypto Tweets:

📖 Learning Corner:

What are DAOs?

• DAO stands for “Decentralized Autonomous Organization.” Let’s break this down into simpler terms.
• Decentralized - This means there is no central leadership, and decisions are decided by several people rather than one. Autonomous - The concept takes on a life of its own and can encourage people to make itself happen. Organization - It can have its own set of regulations, such as managing its finances.
• It’s an open-source blockchain technology regulated by a set of rules devised by its elected members that automatically carry out specific acts without using a central authority. A DAO can interact with external data and execute orders via smart contracts. It is generally run by a group of stakeholders who are compensated through a token mechanism. A DAO’s rules and transaction records are transparently available on the blockchain. A vote among stakeholders usually sets rules. Proposals are the most common mechanism for a DAO to make decisions. A proposal is accepted if it is approved by a majority of stakeholders.

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