Nike NFTs will integrate with EA Sports games; Avalanche has reached 1 million monthly users; Dogecoin investors sued Elon Musk!
Avalanche network surpasses 1 million monthly users for the first time
According to Avalanche developer Ava Labs, the most important reason for this growth was the recently launched AvaCloud. AvaCloud is an existing platform for launching “private blockchains” on the Avalanche network.
Using subnets, developers can create customizable blockchains and decentralized applications.
Emin Gün Sirer, CEO of Ava Labs, said the following about Ava Cloud:
“Before AvaCloud, building your own blockchain could cost millions of dollars and a long time. Today, you can launch your own network in a short time. And you don’t need to hire specialist engineers to do it.”
Sirer stated that creating a subnet using AvaCloud “should be as easy as creating a new website,” noting that this ease would also increase adoption.
Another Ava Labs official, Jonh Hanas, told The Block:
“This growth among Avalanche users is also a reflection of the partnerships with Amazon Web Services and Evergreen. We have consistently had decentralized app launches and the number of subnets is growing every day.”
Nike NFTs will integrate with EA Sports games!
As a great example of cryptocurrency adoption through brand collaborations, Nike’s NFT platform Swoosh will soon be integrated into EA Sports games. This could allow Nike’s virtual shoes and apparel to appear in games.
Making a statement on June 1, Nike stated that NFTs will begin to be included in EA Sports games in the coming months. However, neither Nike nor Electronic Arts have disclosed which games Nike’s virtual products will be shown in.
Although Nike first announced the .Swoosh NFT platform in November 2022, it did not release the NFT collection until early 2023.
On May 15th, .Swoosh released its first NFT collection. This collection was a virtual shoe line called Our Force 1, a nod to the brand’s iconic Air Force One shoe line. At the time of publication, more than 97,000 sneaker NFTs had been sold to approximately 53,000 addresses, according to Polygonscan data.
Nike entered the metaverse in December 2021 by acquiring virtual sneaker and collectibles brand RTFKT. He then launched the virtual world Nikeland.
Nike entered the metaverse with the acquisition of virtual sneaker and collectibles brand RTFKT in December 2021. It also later announced its own virtual world, Nikeland, to the market.
Dogecoin investors sued Elon Musk!
A group of Dogecoin investors has filed a lawsuit against Elon Musk for alleged token price manipulation.
In the lawsuit filed on May 31 in the US Southern District Court of New York, investors claimed that the purpose of Musk’s moves on Twitter was “cryptocurrency manipulation” and that Musk used it to profit from DOGE transactions. According to the complaint, Musk managed to profit from the asset by changing Twitter’s logo to DOGE.
Investors submitted their first complaints on the subject in June 2022. However, the first frame of the case was changed. They first filed a court amendment claiming that Musk was conducting an “inside trade” with Dogecoin. However, they even claimed that the token is a security under SEC standards.
“This is a securities fraud case resulting from the market manipulation and insider trading of Elon Musk, the world’s richest man, who uses a pop culture phenomenon to promote himself and his companies, and to promote his own interests,” the complaint said.
Musk replaced the Twitter logo with DOGE on April 3.
Musk did not make a statement on the subject at the time of writing. Elon Musk is frequently on the agenda by tweeting about Dogecoin and other cryptocurrencies and increasing its value.
After Musk bought Twitter in October 2022, the platform’s value dropped by 33%. Elon Musk announced on May 12 that Linda Yaccarino, former head of global advertising and partnerships at NBCUniversal, will take over.