March 4: Crypto Summary
OpenSea, MetaMask block users. Solana NFTs coming to OpenSea.
gm to everyone reading crypto news in 5 mins or less.
WAGMI
Markets
Here are today’s market moves:
Here's what you need to know:
OpenSea, MetaMask confirm they will block users in U.S.-sanctioned countries
I read the news and my jaws dropped. MetaMask, you too??
I always thought it was completely decentralized! Not as decentralized as they claim to be!
These companies are complying with the law - the problem is the US government forcing them to act this way and block/delete accounts of users in US sanctioned countries. Users in Venezuela will be unable to access their MetaMask wallets starting Thursday. OpenSea is blocked in Iran today, as it has been for some time in Venezuela. The app/website can still be viewed using a VPN.
But worry not.
If you panicked just like I did after hearing about the news and were confused, I spoke to some of my ‘intelligent’ crypto friends and got to know that MetaMask just provides a ‘User Interface’ for you to access your funds on the blockchain.
In simple words, MetaMask is just a ‘blockchain viewer’.
Your funds are safe on the blockchain. All you need to do is use a different wallet AKA blockchain viewer like Trustwallet. Import your seed phrase in it and you’re good to go.
You will NEED your previous seed phrase to access your funds while using another wallet. So better write that 12-word phrase down somewhere and keep it really close to your heart.
Opensea plans to add Solana-based NFT support
Solana as a blockchain has been in the hype for sometime now. But users of the Ethereum network find it a bit of a pain to switch platforms just to access another blockchain. OpenSea offers support for several blockchains including Polygon.
Leaks from Opensea show that the platform might soon introduce new NFTs based on the Solana protocol. These images were discovered by Jane Manchun Wong, a popular tech blogger who specializes in tracking down leaks from tech companies.
Ukraine cancels airdrop and turns to NFTs instead
From Vice Prime Minister of Ukraine himself:
For those uninformed, Ukrainian Government officials had previously announced that anyone who donated by March 3 would receive an airdrop token as a reward. This news caused a large total number of donations, though relatively few of much size.
After the cancellation, many commenters on Twitter, all of whom were hopefully joking, wrote that they had been "rugged" by Ukraine 😂
Just $1.93 fee was taken to transfer $41,696,461 (1000 BTC)
Here’s the transaction visible to literally everyone.
Meanwhile ETH users:
Check this out
Still thinking of getting into the NFT world?
Get a PoohNFT for free. Only pay gas. 3 NFTs per wallet.
DYOR. Not financial advice. I just liked the art.
Did you hear?
Billie Eilish has filed trademarks for NFTs.
10% of all Bitcoin transactions still originate from China despite official ban.
Crypto lingo of the day
ATH:
All time high aka the highest price of an asset. Also known as, the time when we decide to buy and then we see ATL.
Did you like this edition? Let us know!
Your comments help us improve. Click on a link below to share anonymous feedback!