Connect with us

What's In Your Wallet

Luna Story: A Startup That Raised $2.5 Million and Failed

Published

on

Luna Story: A Startup That Raised $2.5 Million and FailedLuna raised $2.5 million in 2013 but failed just two years later. Despite its impressive early success, the company was unable to keep up with rising costs and competition, which eventually led to its downfall.

What is Luna and what does it do?

Luna is a cryptocurrency startup that was founded in 2013. The company raised $2.5 million in funding but ultimately failed in 2015. Luna was unable to keep up with rising costs and competition, which eventually led to its demise.

Luna was a digital currency exchange that allowed users to buy and sell different types of cryptocurrencies. The company also provided a wallet service to store users’ coins. Luna was one of the first companies to offer this type of service, which made it popular among early adopters of cryptocurrency.

How did Luna raise $2.5 million, and what were their plans for the money?

Luna raised $2.5 million in 2013 from a group of investors, with the goal of using the money to expand their business and become a leading player in the cryptocurrency market.

The company’s plans for the money included hiring more employees, developing new features for its platform, and marketing its services to a wider audience.

Why did Luna fail

The UST stablecoin and Luna, the centerpiece of terra’s ecosystem have been heavily impacted by this recent crypto crash. The UST coin was designed to maintain its value at $1 but has since fallen down below 13 cents due in part to last week’s pegged rate change that temporarily makes it possible for users who hold onto these coins now instead faithfully reproduce their original investments through mining or staking over time without ever getting stale pocket change again.

Luna’s price has fallen to a fraction of what it was just months ago. The coin is now worth less than when people bought them at $116 in April. This kind of implosion hasn’t happened before for small-cap crypto coins like luna with market caps over 40 billion dollars.

Mike Boroughs, co-founder of crypto investments firm Fortis Digital said “This is historic for the crypto markets,” as he watched prices fall dramatically in what has been a defining moment for this new and exciting industry.

Advertisement

What are the lessons that can be learned from Luna’s failure?

Luna’s failure provides a number of valuable lessons for entrepreneurs. Here are some of the most important ones:

1. Make sure you can keep up with rising costs and competition. Luna was unable to keep up with the competition, which led to their downfall.

2. Don’t over-expand your business too quickly. Luna expanded rapidly in order to take advantage of the growing cryptocurrency market, but this may have been too much too soon.

3. Be prepared for fluctuations in the cryptocurrency market. The value of cryptocurrencies can change rapidly, so make sure your business is prepared for these fluctuations.

4. Do your research before investing in a cryptocurrency startup. Not all startups will be successful, so it’s important to do your research before investing in one.

For More NFT News, Click Here.

 

Advertisement

What's In Your Wallet

COGGI NFTs Next Release: Riding the Wave of Success

Published

on

COGGI NFTs Next Release: Riding the Wave of Success

The initial iteration of the COGGI Coin was such a resounding success that it immediately spurred the design and production of the second iteration of the coin.

Currently Working on Putting Together a Brand-New COGGI NFT Collection

Fahura Digital Arts have stated that it is working on generating a second round of COGGI NFT Coins in response to the remarkable success of the original release of the coins. This comes after the initial release of COGGI NFT Coins.

On January 6, after Fahura Digital Arts had some early success with the sale of the first 10 Magical Non-fungible Tokens (NFT) via Miidas NFT, the company announced that it is now working on the next generation of COGGI Coins.

On January 7, the creator of the new collection started making statements about it, while simultaneously pushing the Latin phrase “per liberiore mundi,” which means “For a freer world.”

Fahura Digital Arts, the creator of the Presale “Coggi Revolution” Collection, is the entity responsible for the distribution of the NFTs that are a part of the collection.

In addition, Rice Protocol, which is working in conjunction with CoreDAO to power the NFTs, is providing the necessary computing power. COGGI Coin non-fungible tokens (NFTs) are issued by Fahura Digital Arts in the form of ERC-721 tokens for use on the CoreDAO testnet.

Concurrently with the launch of the CORE mainnet, progress has been made on the creation of the Miidas NFT platform. According to the most recent information from the CoreDAO team, the launch of the mainnet should take place in the very near future.

Advertisement

Because of this, in the not-too-distant future, COOGI NFTs will be able to be mined and traded on open marketplaces.

The fact that the bare minimum required to buy a COGGI Coin has been raised to 176 CORE is evidence that demand for both COGGI and CORE is only growing.

The initial collection had a large number of different designs that were shown on a variety of coins. Many of these patterns were associated with precious stones and jewelry in some way.

Fahura Digital Arts are now conducting a feedback collection effort in order to increase user participation and ensure a smooth rollout of the Core Mainnet. As this article is being written, the vote to decide whether or not the Coggi community will make a promise on the number of times it will meet together is still open.

Additionally, Fahura Digital Arts are the company responsible for developing a variety of non-fungible tokens (NFTs) with a llama theme that is compatible with COOGI Coins. You can find the COGGI Llamas on Polygon, and they host a cast of characters that are boisterous and amusing at the same time.

These llamas in the wild command a very high price as well.

The Satoshi Plus ecosystem is being constructed by the official decentralized organization known as the Core DAO. It gives miners the opportunity to gain access to other revenue streams, which they may accomplish by contributing their hashing power to the chain. As a result, miners can potentially increase their earnings.

Core exhibits a strong respect for the history of the cryptocurrency ecosystem, and this joy is matched only by Core’s excitement for its role in the future of the ecosystem. This fervor is fueled by the ideas that lie at the foundation of both blockchains.

Advertisement

For More NFT News, Click Here.

 

Continue Reading

What's In Your Wallet

Uniswap NFT Future Shines Bright with Launch of Revolutionary DeFi Aggregator

Published

on

Uniswap NFT Future Shines Bright with Launch of Revolutionary DeFi Aggregator

Uniswap, formerly known as UNI, has at long last joined the NFT bandwagon.

As part of the DEX’s most recent effort to seize a section of the market for non-fungible tokens (NFTs), the DEX has announced the release of a new NFT aggregator. This move was made as part of the DEX’s most recent push.

On January 10, Uniswap sent out a tweet in which it announced that the aggregate will consolidate NFT listings from different marketplaces into a single interface, allowing users to view all of the advertising simultaneously.

There were a few different platforms utilized, some of which included LarvaLabs, LooksRare, and OpenSea.

The Uniswap NFT aggregator was developed with the goal of making it easier for NFT traders to compare the prices of different products but what’s even more crucial is the fact that it offers a degree of efficiency that can be deployed as a weapon against the fragmented nature of the market. This is an extremely important feature.

Customers do not need to move from one platform to another in order to discover the best offers or prices since this allows for a unified shopping experience.

Increasing the number of non-fund transfer transactions that are carried out on Uniswap

It was too early to say anything till the time the paper was printed, but it is feasible that Uniswap’s NFT trading volumes may grow as a result of this remark. On the other side, the increase will be dependent on whether or not the efficiency of this new product will be successful in attracting extra users.

Advertisement

An analysis of the company’s past performance revealed that the trading volumes of Uniswap’s non-financial instruments had seen a considerable drop from the highs they attained around six months ago. This was discovered when the company’s history was analyzed. It was a reflection of the general drop that has been witnessed in the market for NFTs over the course of the previous year.

Nevertheless, despite the fall, a considerable amount of commercial activity was still carried out in the market. This was the case despite the fact that the price had dropped. As a result, the brand-new NFT aggregator has the possibility of causing an increase in the number of NFT trades over the course of the following few months.

Will UNI be able to carry on with their rally despite the weather?

Following a significant spike that began around the end of December 2022, Uniswap’s native token, UNI, has been seeing considerable selling pressure as of late. This increase began towards the end of December 2022.

At the time that this article was being written, it was being traded for $5.69, having experienced a little drop in value over the course of the preceding three days.

UNI could still have some room for upward movement, especially taking into account the fact that it had not been overbought at the time that this article was being produced and hence could still have some room for growth.

However, its MFI was already in the overbought zone when we looked at it, which increased the possibility of a probable decrease in value.

New evidence in support of this notion was offered by recent studies on the volume of trades.

At the time that this article was being written, the most current exchange volume figures provided by UNI indicated that there has been a decline in the amount of trading activity that has taken place after a price increase that occurred at the beginning of the week came to an end.

Advertisement

The ratio of money entering the market to money leaving it suggested that purchasers made up the majority of participants in the market.

The fact that UNI’s foreign exchange inflows were greater than its foreign exchange outflows at the time that this article was published is an indication that there was less buy pressure than there was demand.

As a direct result of this, there would almost certainly be an increase in the amount of selling pressure if this trend continued; nevertheless, the bulls may make a comeback if the market climate is conducive to it.

For More NFT News, Click Here.

 

Continue Reading

What's In Your Wallet

Game of Thrones NFTs Draw Mixed Reactions on Crypto Twitter

Published

on

Game of Thrones NFTs Draw Mixed Reactions on Crypto Twitter

The highly anticipated debut of the Game of Thrones NFT has already achieved its maximum capacity and is completely sold out, despite the fact that there have been delays and criticisms that it lacks “creative vision.”

The official “Game of Thrones” NFT collection, which was given the name “Build Your Realm,” was completely drained of all of its available inventory after just seven hours of its release yesterday on Nifty’s NFT marketplace.

The collection was given the name “Build Your Realm.”

It was probably not difficult to foresee the high degree of demand for these collectibles due to the general attractiveness of the event (and its new spinoff series “House of the Dragon“).

On the other hand, many people are now commenting that the quality of the artwork in the collection is equivalent to the eighth season of the HBO series, which is a big letdown for those who were anticipating a significant improvement.

Nifty’s and Daz 3D, a digital production company, collaborated on the first series of the collection in order to produce non-fungible tokens. Daz 3D was responsible for the creation and construction of the tokens.

November was the month that saw the first public disclosure of the project (NFTs). Each non-fungible token (NFT) that is mined on the Palm blockchain, which is an Ethereum-compatible sidechain developed solely for NFTs, contains several elements from the universe of “Game of Thrones.” Palm is a blockchain designed exclusively for NFTs. This enables collectors to create their very own one-of-a-kind places and avatars by employing NFTs in the construction process.

The NFTs were made available for distribution through a presale of 3,450 Hero Boxes, which was then followed by a general sale of 1,500 Hero Boxes four hours later. In all, 6,050 Hero Boxes were purchased through both of these sales. Each Hero Box may be purchased for a total cost of $150 (or about 0.11 ETH), and in addition to three Story Cards and nine Resource Cards, it includes one Hero Avatar.

Advertisement

The launch of the NFT has been met with criticism for two distinct reasons: difficulties with the mint, and derision directed at the embarrassingly terrible avatar designs. Both of these issues have contributed to the controversy that has surrounded the launch.

Reproducing mistakes and satirizing existing works of art

As a result of the congestion, Nifty’s released an announcement indicating that it had “paused the line temporarily,” assuring consumers that they will either receive a refund for their purchase or see it emerge in the near future.

According to the account of one user on Twitter, after waiting for one hour, they found out that they still had to wait another two and a half hours before they could mint. Another individual stated that by the time that they had gotten their NFTs, the floor price had already gone down.

The lowest price at which an NFT that is a part of a collection may be obtained immediately is referred to as the floor price of the collection.

It is not particularly typical for issues to develop with minting and delivery when a project is first introduced; despite this, the most prevalent criticism is over the avatars’ outward look, namely the hands, which are portrayed as being unrealistic.

“This Game of Thrones NFT collection is just like the last season of the program,” Justin Taylor is quoted as saying in one of his articles. “There is absolutely no creative vision, and the situation is terrible.”

Loopify, a nickname used by the co-founder of the Web3 gaming project Treeverse, referred to the collection as “the ugliest thing I’ve ever seen.” He said this in reference to the collection. In addition to that, he included an illustration of an avatar with very bizarre hands.

Despite the criticism that has been thrown towards the roasting, some people have pointed out that there is still a chance that it will be beneficial for collectors.

Advertisement

For More NFT News, Click Here.

 

Continue Reading

Trending

© Copyright 2022 | All Rights Reserved RISK DISCLAIMER There is a very high degree of risk involved in trading. Past performance is not necessarily indicative of future results. VarsityNFT and all individuals affiliated with this site assume no responsibility for your trading and investment results. All the material contained herein is believed to be correct, however, VarsityNFT will not be held responsible for accidental oversights, typos, or incorrect information from sources that generate fundamental and technical information. Options trading carries significant risk. Futures and futures options trading carries significant risk. Trading securities, security options, futures and/or futures options is not for every investor, and only risk capital should be used. You are responsible for understanding the risk involved with trading options. Prior to trading any securities products, please read the Characteristics and Risks of Standardized Options and the Risk Disclosure for Futures and Options. The indicators, strategies, columns, and all other features are for educational purposes only and should not be construed as investment advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. Affiliates of VarsityNFT may have a position or affect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. All of our partners or affiliated companies are in no way associated with the proprietary information provided by the VarsityNFT Trading Method or software. All returns are based off buy side analysis and do not include commission costs. All projections are based on current returns. The projections do not account for any possible draw down effects on performance and performance projections. Actual returns and projected returns may fluctuate over the course of the service. "VIP" or "Lifetime" designation refers to the lifetime of the product only and not to be assumed to be the lifetime of any individual. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves and hereby and absolutely agrees to indemnify and hold harmless VarsityNFT, its principals, agents and employees. As a Student and Chat Subscriber, we ask that you please cross check the information posted here. We ask that you challenge any information you feel is incorrect. We do not guarantee any of the information that is posted in the chat. All company names are trademarks or registered trademarks if their respective holders. Use of a mark does not imply any affiliation or endorsement by them.

Social Media Auto Publish Powered By : XYZScripts.com