USA News Group - Shortly after Facebook changed its corporate name to Meta Platforms, Inc. (NEO: FACE), cryptocurrency investors saw the rebranding as a sign of growing acceptance of the metaverse trend. This coincided with a rising interest in altcoins and meme coins such as Dogecoin (DOGE) and its dog-faced competitor Shiba Inu (SHIB) saw sharp rallies, causing Robinhood Markets, Inc. (NASDAQ: HOOD) to field questions about when they'll add more of these coins to its trading platform. As the two dogs duke it out, Coinbase Global, Inc. (NASDAQ-NMS: COIN) already now supports Shiba Inu, and Hello Pal International Inc. (CSE: HP) (OTC: HLLPF) has primary exposure to mining DOGE. Meanwhile popular theater chain AMC Entertainment Holdings, Inc. (NYSE:AMC) is officially already accepting DOGE and is considering accepting SHIB as well.
Despite having the same breed of dog as their respective avatars, DOGE and SHIB are quite different. DOGE is a coin, not a token, meaning it has its own chain that enable it to be mined. Whereas SHIB is a token, existing on the Ethereum (ETH) blockchain. One of the biggest differences between the two is supply, where SHIB has one quadrillion in supply, whereas DOGE has a current supply of ~132 billion.
Busy creating new DOGE coins, is Hello Pal International Inc. (CSE: HP) (OTC: HLLPF), which in October announced they're in the process of upgrading their Litecoin/Dogecoin mining rigs to the latest Antminer L7 Model.
"Dogecoin, often referred to as 'the people's coin', is being rapidly accepted and adopted internationally," says Hello Pal Founder and Chief Executive Officer, KL Wong. "We remain committed to our crypto mining strategy and the implementation of cryptocurrency within our social platform, so this upgrade will help us achieve this goal."
The company sold 4,500 of its existing Antminer L3+ mining rigs for a consideration of USDT 2.1 million (approximately CAD$2.67 million). Using those proceeds, Hello Pal purchased 100 units of Antminer L7 mining rigs, which are the latest Litecoin/Dogecoin mining rigs to be released by Bitmain. L7 mining rigs have a hashrate of 9500 MH/s, which is 19x more than that of the existing L3+ and is one of the most profitable mining rig in the world currently on the market.
Apart from the increased mining power, these miners require less maintenance, making them easier to house in mining facilities due to the reduced space it will require compared to the electricity fees received by the mining facilities. These advantages also mean that Hello Pal will have a lot more flexibility in terms of where its mining rigs can be housed.
Once mined, trading platforms such as Robinhood Markets, Inc. (NASDAQ: HOOD) and Coinbase Global, Inc. (NASDAQ-NMS: COIN) will give new investors and users access to new supplies.
A social media campaign asking "When #shiba?" targeted Robinhood specifically.
"Our customers want new coins," said Robinhood CEO Vlad Tenev cautiously on an investor call. "[But] we're having to carefully evaluate whether we can add new coins in a way that's safe for customers and in line with regulatory requirements."
Meanwhile, the trading platform is offering free DOGE along with Bitcoin (BTC) and ETH through a sweepstakes partnership with fast-food giant Burger King.
"Crypto is fun. It's also deeply technical. Finding ways to make it more accessible, to break down that emotional barrier for people getting involved in the market, is something that we're constantly prioritizing," Christine Brown, Robinhood Crypto COO, told Yahoo Finance.
Unfortunately for users of Coinbase Global, Inc. (COIN) who wanted to join in on the Shiba Inu rally, the cryptocurrency exchange providers went offline, leaving traders unable to sell their holdings.
Users were quite unimpressed, as it took Coinbase too long for the fix to come, as the price of Shiba Inu had already plummeted by the time the issue was resolved. However, when online, Coinbase users can trade SHIB, unlike current users of Robinhood.
Despite its challenges, Shiba Inu officially went on to surpass Dogecoin in market value, hitting $40 billion.
Already accepting Dogecoin, popular "meme stock" AMC Entertainment Holdings, Inc. (NYSE:AMC) has floated the idea of also accepting SHIBA as well.
"As you know, you can now purchase AMC gift cards using cryptocurrency, and our IT group is writing code so that soon we can accept online payments in bitcoin, ethereum, litecoin, and dogecoin among others," wrote AMC CEO Adam Aron. "Should we strive to take shiba inu too?"
Phrased as a poll, the CEO received an overwhelming positive response close to 90% in favor of the movie theater chain accepting it.
Earlier in October, Aron announced: "As we work to accept online crypto payments, now you can buy AMC Theatres digital gift cards (up to $200 per day) with dogecoin and other cryptocurrency using a Bitpay Wallet. Accepted on our website, mobile app, and in theatres."
The crypto market is still feeling the effects of the announcement of Facebook changing its name to Meta Platforms, Inc. (NASDAQ:FB). So far, many early adopters of the virtual worlds in the Metaverse aren't impressed.
"They are essentially trying to build what many of us have been building for years but rebrand it as their own," said Ryan Kappel, an American who for more than two years has hosted meet-ups in different metaverses.
"I think Facebook has made this early name change to essentially secure the new trademark legally as soon as possible as more brands become interested," said UK-based crypto investor Pranksy, who said he first bought virtual world real estate around early 2020.
Meanwhile, the announcement from Meta caused another currency to surge, namely one called Decentraland (MANA), which quickly hit an all-time high of $4.16 on Saturday, according to CoinMarketCap data, up 400% from where it was trading shortly after Facebook announced it was changing its name to Meta.
"[It] brings together our apps and technologies under one new company brand," said Meta CEO Mark Zuckerberg with the name change announcement. "Meta's focus will be to bring the metaverse to life and help people connect, find communities and grow businesses."
For More Information please visit: https://usanewsgroup.com/2020/11/16/live-streaming-is-taking-the-market-by-storm/
USA News Grouphttp://USAnewsgroup.firstname.lastname@example.org
Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). MIQ has been paid a fee for Hello Pal International Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares of Hello Pal International Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Hello Pal International Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Hello Pal International Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
USA News Group is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein. The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact Information:FN Media Group, LLCMedia Contact e-mail: email@example.com U.S. Phone: +1(954)345-0611
View original content:https://www.prnewswire.com/news-releases/metaverse-talk-heats-up-interest-in-multiple-cryptocurrencies-301416902.html
SOURCE USA News Group