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Daily Crypto News Feb 22, 2022: Top 3 crypto updates

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In today’s Crypto news, The Warner Music Group, the owner of popular music record labels such as Atlantic, Elektra, and Warner Records, is set to enter the metaverse and NFT world with a music-focused theme park in The Sandbox. Learn more on this new virtual land below.

Following the recent release of an NFT collection with Gala Games for the premiere of his new album, “Bacc on Death Row”, Snoop Dogg, the Los Angeles-based rapper, aims to turn his “Death Row Records” into the First NFT Music Label. Find out more about his NFT & Metaverse plans below.

After India announced its plans to launch a central bank digital currency (CBDC), and the European Commission stated plans to introduce a bill for digital euro in 2023, Taiwan has joined the ranks by announcing plans to complete its retail CBDC simulations by September. Learn more about their progress so far below.

 

Quick Crypto News Roundup! 

 

Daily Crypto News  Feb 22, 2022

Warner Music Group’s Virtual Music Concert

Warner Music Group (WMG), is making its metaverse debut with a music-themed theme park in The Sandbox. The virtual theme park will showcase “concerts and musical experiences” from the music label’s renowned list of artists, including Ed Sheeran, Bruno Mars, Dua Lipa, and Cardi B.

Warner Music has grabbed the metaverse’s equivalent of beachfront land as a first-mover. “We’ll create continuous, immersive social music experiences on the LAND that defy real-world limits and let our artists and fans engage in ways they’ve never done before.” Warner Music Group’s Chief Digital Officer and EVP, Business Development, Oana Ruxandra, stated in a blog post.

Read: Decentraland Vs Axie Infinity: Which is a better Metaverse token 

Source: IndianExpress

 

Snoop Dogg Plans First NFT Music Label

According to statements made by Snoop Dogg on the social networking platform Clubhouse, he may be turning ‘Death Row Records’ into a non-fungible token (NFT) label.

Snoop Dogg seems to know his way around NFTs & the Metaverse. He claimed to have launched a personal NFT collection valued at more than $17 million in September, under the name Cozomo de’ Medici. But this claim has never been validated.

However, the rapper did launch an NFT collection with Gala Games to coincide with the release of his new album, “Bacc on Death Row.” The “Stash Box” NFTs have already sold over $50 million, with each holder receiving an NFT of a song from the album.

Read: How to assess the value of an NFT?

Source: CoinDesk

 

Taiwan To Complete Retail CBDC Simulations

Taiwan’s retail central bank digital currency (CBDC) development is in its second phase. And after completing a feasibility assessment in June 2020, it plans to finish trials of its prototype CBDC in technical simulations in September this year.

According to reports, the existing system is a two-tier system in which users can exchange bank deposits for the new Taiwan dollar digital money. The CBDC will be legal tender and will be linked to credit and debit cards. As a result, there is no age limit, allowing minors to utilize it.

Taiwan has compared itself to developed regions such as Europe, the United States, Japan, and South Korea in terms of motivation towards developing CBDCs. As a result, it wants to make sure that a CBDC can provide benefits over other forms of electronic payment.

Read: How to Mint NFTs: Step by Step Guide

Source: LedgerInsights

Crypto Market Trend February 22, 2022

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

Cryptocurrency  Price (latest by February 22, 2022)  Change in % 
Terra USD (UST) ₹79.28 0.19%
USD Coin (USDC) ₹79.16 0.36%
Binance USD (BUSD) ₹79.16 0.36%

*All prices are latest by 11 AM IST  February 22, 2022.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by February 22,  2022)  Change in % 
Gala (GALA) ₹17.29 18.57%
Quant (QNT) ₹8023.61 17.19%
Flamingo (FLM) ₹15.40 17.10%

*All prices are latest by 11 AM IST  February 22, 2022.*

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