Bitcoin (BTC) bulls faced strong headwinds on March 22 that quickly dampened any attempt at a breakout above the $58,000 level despite comments from United States Federal Reserve Chair Jerome Powell which called the top cryptocurrency a “substitute for gold.” Data from Cointelegraph Markets and TradingView show that traders made several attempts to push BTC above $58,000 over the past two days only to be rejected, with Monday’s failure resulting in a pullback to the $54,000 support level. On-chain analysis shows that while BTC price struggles to climb back above $60,000, whale wallets have been in accumulation mode over the …

All the trendy aspects of the crypto space — non-fungible tokens, institutional adoption of Bitcoin, the quirkiness of Dogecoin — have found a home with Tesla CEO Elon Musk. In a tweet today, the billionaire claimed he would be selling a musical non-fungible token, or NFT, with lyrics based on the hype surrounding the technology: "It’s verified, it’s guaranteed." The video clip playing the song features a pair of diamond hands underneath the moon with Shiba Inu dogs — likely a reference to Dogecoin — circling. I’m selling this song about NFTs as an NFT pic.twitter.com/B4EZLlesPx — Elon Musk (@elonmusk) …

Electronic music legend Aphex Twin is the latest artist to join the ongoing nonfungible token, or NFT, mania in the music industry. Richard James, popularly known as Aphex Twin, officially announced on Saturday his own release on major NFT platform Foundation. I’m on @withFND 0x2B867e8B4EfDB9a792a5A9C5524B7f61CF143b4Ahttps://t.co/m8iEeChAzw — Aphex Twin (@AphexTwin) March 14, 2021 According to the piece's page on Foundation, the NFT sold at online auction for 72 Ether (ETH), worth around $127,917 at publishing time. The starting price of the piece was 1 ETH, or about $1,800. Entitled “/Afx/weirdcore,” the audiovisual NFT piece appears to be a defective and animated …

The Kings of Leon’s tokenized album and NFTs sale that began on March 5 has generated at least $1.45M, or 820 Ether, in sales in its first five days according to figures on the Open Sea platform. However Rolling Stone reports that a band representative estimates the revenue is above $2 million, with $600,000 of that going to the Crew Nation Fund for supporting live music crews affected by the pandemic. The landmark reportedly event suffered teething problems as many of the band’s fans were complete newcomers to cryptocurrency and NFTs, resulting in a decision to extend the sale by …

As blockchain technology increasingly becomes part of the mainstream conversation, its integration with today's most used technologies is bound to increase. This means that it's only a matter of time before video streaming, digital music and social media see gradual blockchain integrations take place. Audius (AUDIO) is one project that is chasing the first-mover advantage in the music streaming sector. The music-sharing and streaming protocol facilitates transactions between creators and listeners, making it relatively effortless for users to distribute and monetize audio content. The project has received increasing attention for its approach to decentralizing the music industry and on March …

Square’s majority stake in Jay-Z’s streaming service Tidal could potentially result in some blockchain-related functionalities on the platform, according to one analyst. Avivah Litan, a technology analyst at consulting company Gartner, suggested that Square’s $297 million investment could push Tidal to start taking advantage of new technologies like blockchain and cryptocurrencies, Reuters reports Friday. With Square’s help, Tidal would specifically benefit from the technology of non-fungible tokens, or NFTs, which allows artists to certify ownership for photos, videos and other digital content, the expert noted. NFT technology could easily track the provenance of autographs and memorabilia, potentially making them even …

American rock band Kings of Leon is the latest music project to jump on the bandwagon on the non-fungible token, or NFT, industry. After a four-year break, including a delay caused by the COVID-19 pandemic, the Nashville family band is back with something more than just their eighth music album. On Friday, Kings of Leon will release its new album, When You See Yourself, in the form of an NFT token, dropping three types of tokens as part of a series called “NFT Yourself,” the project told Rolling Stone. The album itself will be released on traditional platforms like Spotify …

Nonfungible tokens are being used to explore a new business model that puts music makers back in control of sales and copyright issues. Grammy-winning producer Illmind released what he calls the “first ever NFT-backed sample loop/melody pack” on Thursday, putting a collection of 10 “melody compositions” up for auction on the Mintable NFT market app. Based on Ethereum, the NFT is titled "Alorium" and contains an exclusive link to a file containing individual audio tracks of the compositions. It also comes with a “royalty-free guarantee” and a contract that gives the NFT owner rights to use the audio files for …

User-owned virtual world Decentraland is celebrating its one-year anniversary true to form with a virtual party open to all. “Relive the past 12 months of events, competitions, exhibitions, gatherings and more with messages from the community and the results of the #DCLFilmClub promo video contest screened for all,” read the party’s announcement blog post. Attendees will receive a proof-of-attendance protocol nonfungible token and will get the first look at The White Rabbit, an in-game club. Community members are also pitching in on the effort, with one land rental service offering a legendary item giveaway to celebrate. DJ and crypto aficionado …

Famed musician, producer, and Cointelegraph Top 100 awardee 3LAU has announced an upcoming NFT auction celebrating the three-year anniversary of his 2018 album Ultraviolet. The highest bidder will be able to collaborate with 3LAU on a new track. 3LAU’s “Ultraviolet Vinyl NFT Collection” is scheduled to be auctioned over two days from Feb. 26 on Origin Protocol’s decentralized e-commerce platform, Dshop. Auction participants will have the chance to bid on 33 one-of-a-kind “Vinyl NFTs” that are redeemable for exclusive access to unreleased music, special edition vinyls, and unique fan experiences. Auction winners will also receive up to 11 bonus song …

Mike Shinoda, the musician and co-founder of rap-rock band Linkin Park, launched an auction on Rarible last night for “Zora,” a nonfungible token (NFT) music clip from a forthcoming song. In doing so, Shinoda joins an ever-growing throng of celebrities and influencers who are dipping their toes into NFT tech — and bringing their considerable fanbases along for the ride. Late last night Shinoda revealed the drop with a short Tweet: I made a thing: https://t.co/nxirMUsCvb #NFTs #Cryptoart @ourZORA — Mike Shinoda (@mikeshinoda) February 6, 2021 In a follow-up thread Shinoda described the auction as an “experiment,” and seemed to …

Gene Simmons, a rock and roll legend and a known fan of cryptocurrencies like Bitcoin (BTC), has reaffirmed his bullish stance on crypto by purchasing several cryptos. The Kiss frontman said on Feb. 1 that he now owns several cryptocurrencies including XRP and Dogecoin (DOGE). Simmons did not hint at how much he invested and noted that his statement is not a recommendation. Not recommending any of these to anyone. But yes, I also bought Dogecoin, XRP and others. Make of it what you will. — Gene Simmons (@genesimmons) February 1, 2021 Simmons claimed that he has also bought and …