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Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes

One of the hedge funds badly burned in the infamous GME social media driven short squeeze is closing down, while GameStop itself has just completed its $1.13 billion equity offering.

According the Financial Times, London-based White Square Capital operated by Florian Kronawitter has closed its main fund and will return capital to investors.

White Square Capital reportedly had $440 million in assets under management (AUM) at its peak. The hedge fund was one of many that suffered double digit percentage losses from short positions in January, when the Wall Street Bets subreddit helped pump GME’s price from $21 on Jan. 12 to around $345 on Jan. 27.

However the FT reported a source as saying the fund’s closure was unrelated to its GameStop misadventure. In a letter to investors, co-founder Kronawitter cited the traditional equity long-short model was being “challenged” in the current financial climate, as there are “way too many fish in the pond” that operate with the same long-short strategy.

“The traditional edge is being arbed away [eroded by other investors], there’s an oversupply of capital,” Kronawitter said.

The co-founder also highlighted that the hedge fund’s opportunities for arbitrage have “diminished” due to the “onslaught of capital caused by central bank monetary interventions.”

These factors are also accompanied by the relative ease of access to information and cheaper investment alternatives, with Kronawitter asserting that it brings it to question how the management fees from hedge funds can be justified in the current market.

In a Reddit thread discussing the news on the r/wallstreetbets subreddit, members of the group shared their delight, with user “turtleduck77” likening hedge funds that shorted GME to dominoes falling, noting that its “Time to invest in dominoes! The game not the pizza.”

Related: New decentralized crypto exchange is inspired by r/Wallstreetbets

GameStop completes ATM offering

Yesterday GameStop announced the completion of an at-the-market (ATM) equity offering, with the company selling five million shares of common stock generating almost $1.3 billion before commissions and offering expenses.

“GameStop will use net proceeds from the ATM Offering for general corporate purposes as well as for investing in growth initiatives and maintaining a strong balance sheet,” the announcement read.

One of the growth initiatives likely to be funded is GameStop’s NFT marketplace set to be launched on Ethereum.

While details are sparse at this stage, the firm’s blockchain division is reportedly headed by the former business operations leader of Ethereum and Loopring DEX, Matt Finestone.

The smart contract platform is based on the ERC-721 NFT standard and was created by foobar, a developer who has worked on wrapper solutions for the classic version of Crypto Punks, HD Mooncats, and MooncatHelper NFT projects in the past.

While top crypto assets and memecoins have been in a major down trend since May 12, GME’s meme stock has increased 36.6% within that time frame, increasing from $161 on May 12, to $220 as of today, according to TradingView.

In comparison, data from CoinGecko shows that crypto’s nearest equivalent in meme coin Dogecoin has cooled down, has dropped 64% — declining from a price range of $0.50 on May 12, to $0.18 today.

Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes

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What is NFT in Crypto? and why it matters in crypto world?

Understand NFT in Crypto

It is seen that the Non-fungible tokens (NFTs) have exploded from the ether this year. Ranging from any form of art and any kind of music, types of tacos, and varieties in toilet paper, these particular digital assets have been selling like the exotic Dutch tulips from the 17 to-century—some even for around millions of dollars.

However, are these NFTs worth your money or this hype? Experts say that NFT crypto is a bubble poised to pop, much like the previous dot-com craze or the Beanie Babies. However, others believe that the NFTs have come here to stay and change the investing game forever.

Table of Contents

  • What is essentially meant by an NFT?
  • How Is an NFT Different from Cryptocurrency?
  • How do the NFTs Work?
  • Why are NFTs so popular?
  • What are the NFTs usually used For?
  • What are the risks to be kept in mind while investing in NFTs?
  • What is the possible future for the NFTs? 
  • How do I get to invest in NFTs?
  • Conclusion

What is essentially meant by an NFT?

To get to know the famous question of what is NFT crypto, one must understand how NFT is essentially a particular digital asset that tends to represent numerous real-world objects like any art, certain music, countless in-game items, and multiple videos. They are usually bought and are as well sold online and often about cryptocurrency. These have generally been encoded with the same particular type of underlying software as many other cryptos.

Numerous NFTs, which are at least in these particular early times, have been multiple digital creations that are already existent in some other form in any other platform, like the several iconic video clips from that of the NBA games or any different securitized versions of any state of digital art that has already been floating around and about on Instagram.

How Is an NFT Different from Cryptocurrency?

NFT basically stands for non-fungible token. It has been generally built by using the same particular type of programming, just like cryptocurrency, which would either be Bitcoin or Ethereum; however that is where this similarity would end.

It is to be understood that any form of physical money or any cryptocurrencies are basically “fungible,” meaning that they might get traded or exchanged for one another. They have also been equal in their value, just like one dollar would always be of the same value as another dollar. Similarly, one Bitcoin would always be similar to any other singular Bitcoin. The fungibility of Crypto makes it a relatively reliable means of being able to conduct transactions on any given blockchain.

However, NFT cryptos are indeed different. Each NFT has a unique digital signature, making it impossible for these NFTs to get exchanged for another or become equal to any one of the others and hence are deemed non-fungible. 

How do the NFTs Work?

NFTs tend to exist on a particular blockchain, usually a specific distributed public ledger that records the multiple transactions that occur. You would probably be the most familiar with any blockchain as a basic underlying process that makes these cryptocurrencies a usual possibility.

To be very specific, these NFTs are usually held on the various Ethereum blockchain, even though the other blockchains might give them the necessary support.

The NFT, which is created, or rather “minted” from any of the digital objects which tend to represent both the tangible and the intangible items, often include :

  • Art
  • GIFs
  • Videos and sports highlights
  • Collectibles
  • Virtual avatars and video game skins
  • Designer sneakers
  • Music

It is to be understood that these NFTs tend to get any sort of exclusive ownership rights. Yes, you read that right. The NFT cryptos can have only one particular owner at any given time. The unique data of the NFTs usually makes it extremely easy to get verified with their very own and helps to transfer numerous other tokens in between their owners. The particular owner or the initial creator might also store any precise information within them. For instance, an artist might sign their artwork, and they can do so by including their particular signature in the metadata of the NFT.

Why are NFTs so popular?

This particular coronavirus pandemic has indeed played a massive role in the present NFT boom. The absolute value of these NFT transactions quadrupled and went up to $250 million in the previous year, according to research from NonFungible and the BNP Paribas-affiliated research centre or firm L’Atelier.

That has been in no tiny part since the stay-at-home restrictions had paved a path that eventually resulted in the people spending much more of their precious time surfing on the internet and saving cash, which resulted from the lack of commuting. It has been similar to the particular rise of the retail traders who would be betting on the GameStop and the other, which led to historically unloved stocks, which were eventually promoted on the Reddit board of the WallStreetBets.

What are the NFTs usually used For?

Several blockchain technologies and the best NFT crypto artists and content creators have provided a unique opportunity to monetize their numerous wares. For example, the artists would no longer be dependent or rely on multiple galleries or any particular auction houses to sell their art. Instead, this artist might sell this piece of their art directly to any interested consumers as a specific NFT, which would also allow them to keep with them much more of their profits. In addition to this, the artists might also program in the royalties to receive a certain percentage of the numerous sales whenever their submitted art would get sold to any particular new owner. This has been an attractive feature since the artists generally do not tend to receive any future proceeds right after their art has been first sold.

What are the risks to be kept in mind while investing in NFTs?

NFTs have constantly been catching the necessary attention of several high-profile technology investors, numerous major global corporations, and the famous artistic community. The various NFT proponents tend to say that these could, in turn, turn out to be the future of the multiple collectables and would, in turn, allow the users to be able to prove that they own the necessary digital assets. However, this flurry of interest tends to echo the particular Gamestop Saga and also the rise of the Wall Street Bets available on Reddit. 

Like any other investment, NFTs also tend to come along with their concerns and risks. When given their seeming infancy, the particular fact that these NFTs have yet again been ready to gain a certain mass acceptance would mean that they have been a somewhat speculative investment. This would, in turn, suggest that they have been prone to both the high rises and the steep drops in any such values.

The supply and the necessary demand usually drive NFTs, and as a result of this sudden surge in demand, there have been buyers who are very well prepared and are ready to pay what would seem to be a ridiculous price. However, it is to be noted that there would be no such guarantee to ensure that these prices would always continue to rise.

What is the possible future for the NFTs? 

While these might appear to be somewhat speculative at this moment, many technologists believe that NFTs could represent an entirely brand new economy based upon specific digital ownership. 

The songwriters or any such creators could make good money just by selling their works directly to their determined fans and, in turn, collect a specific royalty with every time their deemed NFT gets re-sold. The developers might also be able to build an infrastructure and the platforms, which would help enable these new markets. 

How do I get to invest in NFTs?

Well, if you have been looking for multiple ways to invest in the necessary NFTs, you would be required to be familiar with the cryptocurrency and the essential need to own the same, which would, in turn, have to be kept in a particular digital wallet. You might use specific platforms like that of the CoinJar, the Coinspot, or maybe the Independent Reserve to purchase the required Ethereum, which could, in turn, be used as the necessary currency for the NFTs. 

Conclusion

It is to be understood that there has been a relatively wide range of multiple reasons which prove why people are often attracted towards investing in these NFTs. People might want to collect these NFTs for any particular emotional reasons (which might be the social status), or maybe because of the prospect of the re-selling of these NFT cryptos at a relatively higher price which would, in turn, be based on the necessary excitement and the momentum of that particular moment or the scenario. For better understanding, you might as well refer to  https://www.blockchain-council.org/.

What is NFT in Crypto? and why it matters in crypto world?

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5 Ways to Learn About Cryptocurrency

5 Ways to Learn About Cryptocurrency

There has been a very noticeable shift in the public conversation surrounding cryptocurrencies over the last year. We have seen a marked increase in the amount of institutional interest in the biggest coins, the explosion of Dogecoin, as well as sizable investments from publicly traded companies and other high-profile investors. What’s more, there is a wealth of knowledge online that is free and easily accessible that newcomers can use to better acquaint themselves with crypto. 

An increasing number of businesses are accepting cryptocurrencies as payment for goods and services and the technology used to mine and store coins have improved dramatically. Cryptocurrencies are being touted as the next major store of value in an unpredictable global economy. Naturally, retail investors who may have once ignored this asset class or been entirely unaware of it are starting to take an interest. If you are new to cryptocurrencies, below are 5 ways to learn about them. 

Take a Trading Course

For many people, learning is best done hands-on, and there is really no better way to get this kind of experience than by taking one of the many highly informative crypto trading courses out there. These courses have been springing up a lot in the last couple of years and they are usually a good place to start if you have the money and time to invest and would like to see how trading is done from start to finish, as well as a breakdown of the technology and major currencies themselves. 

You get hours of on-demand video accompanied by live examples of real investing that you can then take and apply to your own crypto strategies. There are beginner and advanced courses, so you can continue the learning for as long as you like and at as high a level as you feel comfortable. 

Read Industry Publications

Formal education is important, but staying up-to-date on industry and market news is crucial for investors, regardless of the asset class. If you want to know what the market is doing, what experts think about particular coins, exchanges and wallets, and where and why you should invest your money, then putting together a daily reading list of journals, magazines and periodicals is essential.

You can simply bookmark the publications you would like to read, but a better way to manage and curate your information diet is using a content aggregator like Feedly, which lets you pick and choose your reading material, segment it by category and then gives you a steady stream of all the new headlines published by these outlets as they become available. 

Use a Mock Trader

Demo trading sites and crypto simulators abound and they are all designed to give you real-time experience buying and selling digital assets without any of the risks. The best way to use these training tools is to spend some time researching the coins you are most interested in trading and then purchasing them using your mock account and trying to understand how and why the prices are fluctuating based on the information you have available to you. Learn why certain coins might go up and others down until you feel confident that you are able to read the market well enough to start putting real money into it on real exchanges. 

Browse Forums 

Every intermediate or advanced investor in any asset class, at one point, started as a beginner. They had to learn the ropes, understand the language, and experience investing first-hand before they eventually evolved into competent, confident investors.

One of the biggest advantages when you are a beginner, in any field, is to be surrounded by people more experienced than yourself, and ideally those who are willing to share their knowledge and experience with you. Even if they are not, however, there is still a lot to be gained just by observing knowledgeable and seasoned investors interact and weigh-in on different crypto-related topics and current events. 

Places like crypto subreddits on Reddit.com, or the comment sections of popular podcasts and news outlets are good places to browse, both when you are first starting out and as you begin to learn the ropes. Here are where people who actively invest come to give their two cents on major market goings-on, argue with one another about investments, opportunities and threats, and trade tips and tricks. Absorbing all of this as a new investor can be overwhelming, but watching experienced investors interact is one of the most helpful things you can do as a newcomer. 

Read the White Papers

If you have a math or programming background, and even if you don’t and are willing to teach yourself the basics, it is always worthwhile to start your research into a coin by reading its white paper. Any large investor in cryptocurrency, institutional or otherwise, has read a given coin’s white paper before deciding to invest, as the white paper is essentially the proof of concept for a cryptocurrency.

It lays out how the coin operates, what unmet market need it serves, or which need it serves better than the competition, as well as a list of other important factors including the supply of the coin and how it is mined and validated. There are tips and tricks to getting the most out of a white paper. 

It is important to understand the fundamentals of a coin, and any asset for that matter, otherwise you are investing without really knowing the product. Sure, you might enjoy a bull market or time a major run on a coin and make money, but if you truly understand why something is and will continue to be useful and therefore its adoption and proliferation potential, you can make much more confident and hopefully accurate investment decisions. 

Conclusion 

Learning a new asset class takes time and dedication. This is something you have to chip away at day after day. Cryptocurrencies are highly complex assets, and the underlying technology can be difficult for many people to wrap their heads around. Perseverance is key. If you are new to cryptocurrencies and blockchain and are determined to turn yourself into a knowledgeable, experienced investor, keep the above ways to learn and improve in mind and make every day a quest to learn more about digital currencies.

5 Ways to Learn About Cryptocurrency

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How to Market Your STO (Security Token Offering) Successfully?

Codezeros

Because of the high potential of blockchain in transforming the world, financial services can be enhanced by crypto assets. Undoubtedly, nowadays, people are aware or familiar with utility tokens. But the concept of STO is still new in the market.

How to Market Your STO (Security Token Offering) Successfully?

STO stands for security token offering. It contributes to the launching of a crypto token. If you have high expectations of future returns and profits, you need to market your STO. To begin with the marketing of STO, you need to follow the article.

Initial stage:

To proceed with the initial stage, you need to follow the given below factors:

Being one of the most vital prerequisites for STOs, it serves as a proposal for investors as it holds almost everything associated with your project. Investors must be able to make correct decisions. Thus, you must include information related to legal compliances and regulations. Commercial, financial, and technological details of a security token must be included in a pro-language.

  • One-pager:

One Pager serves as a top-notch overview of a product, business, or service. The enterprises and startups can make use of the one-page document for advertising their offerings to accredited investors.

While launching a security token, make sure that the website is secured with HTTPS. Moreover, sites having HTTPS are preferred to rank higher by the search engines.

  • Simplify your idea:

Before finalizing your idea behind the project, try to discuss it with both of your non-technical or technical friends. And make sure that they understand it well. And if they do not understand it, it is more likely that your website visitors might not understand it as well. Thus, try to make it more practical, easy, and understandable.

  • SEO and blog writing:

To improve the offer value and branding of your project, you may have a blog to attract more organic traffic. Try to publish a new article at least twice a week. Showcase your idea clearly and tell how it is going to transform the world. While opting for STO marketing, focus on the quality of writing rather than the quantity. And make sure that your site is search engine optimized.

PreSTO:

Some of the pre STO strategies are given below:

  • Press release and media outreach:

Media outreach and press releases will make your STO project reach multiple corners of the world. Just do thorough research for press release websites that allows publication of STO press releases.

  • Getting high domain authority backlinks:

Domain Authority or DA is referred to as a search engine ranking score that shows how a site is going to rank on Search Engine Result Pages (SERPs). The higher the DA, the higher your chance to rank better. You may opt for the best security token development service for better results.

  • Social media marketing:

If you want to promote your STO to investors across the world, you may opt for some excellent social media marketing platforms. Twitter, Reddit, Steemit, and Telegram are some of the platforms that you can use.

  • Run video campaigns:

You need to run video ads on multiple video streaming channels like YouTube, Vimeo, and several others. For attracting investors and giving them a clear understanding of your concept, you can market your project’s demo videos.

Running STOs:

Some of the running STOs strategies are given below:

  • Deal marketing:

You have to be an expert in explaining your concept or idea if you want to boost your security token selling skills. Opt for security tokens blockchain and keep your project’s CIM upgraded, and collect and create a library of potential buyers and investors.

  • Build credibility through networking:

You need to build trust and network in the field of security token marketing. Understand that the buyers will always look for seamless transactions without any hassles. Thus, act accordingly. In-person promotion of your products will help you in customer trust generation and gain social capital.

When a token is distributed to a community for free or small tasks, it is known as airdrops. This technique of STO marketing will help you to raise micro-tasks freelancers’ groups.

Post STO:

The post STO strategies are discussed below:

  • List STOs on exchange:

Having friendly relations with some key people in the cryptocurrency industry may help you to get through the listing process quicker. Include the token’s name, symbol. Value, min cap, and mas cap while listing tokens.

  • Keep community updated:

On all the channels where you have created profiles, interact with the accredited investors and community members. Try to respond to the queries of the members as soon as possible.

  • Performance marketing:

If you are looking for a cost-efficient solution for marketing your innovative ideas, opt for performance marketing. Additionally, as for the security tokens crypto, it improves visibility. The advertisers and the marketing companies are rewarded for attracting traffic to the site.

Conclusion:

All the above-mentioned steps can help you in marketing your STOs. But, besides all these, you need to make sure that you have proper planning and strategy to overcome the obstacles. If you are unable to do it alone, you may also look for professional help. STO marketing is not an overnight process, and you need to stay patient to get the best results.

How to Market Your STO (Security Token Offering) Successfully?

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‘Doge4Amazon’ Petition Gathers Steam As Thousands Call on Amazon To Accept Dogecoin

No less than 130,000 people have signed a petition for Amazon to accept Dogecoin as a payment option. This comes at the back of Dogecoin’s price surge in recent weeks.

Dogecoin Petition for Amazon

The petition called Doge4Amazon now has a total of 130,000 signatures of people from the Dogecoin community.

It was first launched by an anonymous user named Mark E back in September 2018 on Change.org, where it targeted only 25,000 signatures.

However, it surpassed the 100,000-signature mark last month, which may be attributed to the price rally of the cryptocurrency. 

A link to the petition was reportedly posted on Sunday to the active Dogecoin community on Reddit, where it gained 1,100 upvotes.

Mark E disclosed in a recent update that Amazon was contacted by staff at Change.org on behalf of the petition after the petition surpassed 100,000 signatures.

Founded by former IBM software engineer Billy Markus and product manager Jackson Palmer as a joke in 2013, the price of the Shiba Inu dog meme-based coin has soared, before it crashed recently.

Its valuation is around $29 billion now, falling off a high of $50 billion, according to CoinMarketCap. 

Even though small business owners and entrepreneurs are already adopting the cryptocurrency, the petition aims to push Amazon into becoming one of the first major corporations to use it as a payment method.

With Amazon’s massive 47% market share of the e-commerce retail market in the US and net revenues of over $280 billion as reported in 2019, many expect that it would accept Dogecoin. This is however wishful thinking as the retailer is still yet to accept Bitcoin as a mode of payment.

Early this year, Amazon reportedly posted job vacancies that show that it may be planning to launch its own digital currency project and trial it in Mexico soon. 

The yet-to-be-announced project, which the company sketched out across the job posts, appeared to be a digital currency that will be directly converted for cash and will be used to pay for goods and services on the platform.

Dogecoin’s Steady Rise To Popularity

Thanks to celebrities and billionaires like Tesla CEO Elon Musk and Dallas Maverick’s Mark Cuban, Dogecoin has been steadily rising to popularity in recent months.

Musk has been very vocal about his love for Dogecoin. He posted several tweets hyping the digital asset and even once called it his favorite cryptocurrency.

Shark Tank investor Cuban also recently announced that his NBA franchise would accept Dogecoin as payment for tickets and merchandise.

After his announcement, Cuban revealed that the inclusion of the digital asset as a payment option had paid off as he said the team sold 122,000 DOGE worth of merchandise in March.

‘Doge4Amazon’ Petition Gathers Steam As Thousands Call on Amazon To Accept Dogecoin

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