Latest Crypto News: Snoop Dogg and Billy Ray Announce Project NFT; Elon Musk backs crypto payments for Twitter

Non-fungible tokens (NFTs) are making a big splash in the mainstream world, now with iconic rapper Snoop Dogg announcing his collaboration with country music singer Billy Ray Cyrus and the Avila Brothers to release an NFT collection. According to a report from Binance, the “A Hard-Working Man” NFT collection will be released in collaboration with Animal Concerts, a pioneer in virtual world events.

The report said that the NFT project would prioritize collaboration between musicians. NFTs will serve as membership cards for IRL events such as concerts, comedies, meetings, celebrations and poker games.

“NFTs are categorized into three categories: The Hustler version will be the first to go live, with 9,999 unique NFTs. Owners will have direct exposure to virtual world events, special celebrations, a Snoop Dogg party at live event, digital concerts, gaming offers, and other perks,” Binance said. Additionally, it noted that Overachiever Edition subscribers will get access to a special event featuring Snoop and Billy Ray, unreleased AHWM gear, multiverse gear giveaways, and more.

The report adds that Snoop has already released several NFT collections and multiverse events and even launched his bakery based on his Bored Ape IP address, in addition to owning a Bored Ape and a private NFT collection worth a fortune.

Elon Musk wants Twitter payment system to accept crypto transactions

Twitter chief Elon Musk reportedly instructed its developers to create the platform’s payment system so that crypto functionality could be added in the future, according to a report by Crypto News outlet Cointelegraph.

According to a January 30 Financial Times report, two people familiar with Twitter’s plans said the payments feature would support fiat currencies to begin with, but would be designed to accommodate cryptocurrencies should the opportunity arise. according to the report. Interestingly, Twitter has long teased bringing payments to the social media platform. Still, it remained unclear whether those payments would involve blockchain or crypto technology, though Twitter’s CEO sees a big role for crypto on Twitter, according to the report.

Meanwhile, in early December, footage was leaked revealing “Twitter Coins” – a secret digital asset being developed for payments and tips on the platform. Many hoped it would involve crypto in some way, according to the Cointelegraph report. More recently, however, the report noted that leaked images of the project in early January did not mention crypto or blockchain technology, much to the dismay of the community. In the meantime, the Payments the system will

go with only fiat support. The report says that for now, Twitter has begun the process of applying for state-based regulatory licenses across the United States that would allow it to introduce payments on the platform.

Bitcoin Mining Revenue Witnesses 140% Increase Since Christmas: Report

Total bitcoin mining revenue (block rewards plus transaction fees) per day has soared nearly 50% since the start of the month, reaching nearly $24 million, according to the Binance report. This development comes despite the significant rise leading to numbers far from the all-time high of over $80 million recorded in April 2021.

Bitcoin’s rally in the first month of the year appears to have boosted profits for the mining community, and data from YCharts shows that BTC’s daily mining revenue fell from $16.1 million on January 1 to 23 $.8 million on Jan. 29 (a 47% increase), according to Binance report.

The figure rarely topped $20 million during the extended crypto winter of 2022, dropping to $13 million shortly after the FTX fallout and ensuing stock market crash. The downward trend continued through December (when bitcoin struggled at around $16,500), with daily bitcoin mining revenue falling below $10 million on Christmas Eve, did he declare. Notably, the figure was at its highest level of over $80 million in mid-April 2021 (when BTC traded near $63,000), the report adds.