TikTok drop its first NFTs collection and China’s crypto ban reveals digital yuan CBDC goals

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Today’s short news:

TikTok couples up with Immutable X to bring its users NFTs. Rapper Lil Nas X will be the first creator to launch his collection this month.

During a funding round last month, the Sydney-based start-up raised $82 million, signalling significant investor interest in their vision and NFTs in general.

As such, while non-fungibles continue to divide opinion, it’s becoming more apparent that the arguments against them don’t faze those in the know.

And for today’s second short news, we need to look more at China

Chinese regulatory authorities gave yet another shock to the crypto-verse by imposing a ban on all cryptocurrency transactions on September 24. This measure came just as the market was beginning to recover from the government’s June prohibition on cryptocurrency mining activities.

The fear, uncertainty and doubt (FUD) that resulted from the ban caused Bitcoin (BTC) to crash nearly 9% within five hours, from exchanging hands in the $45,000 range to bottoming out at $41,142. Soon after, Alibaba announced that it would be banning any sale of cryptocurrency rigs and related accessories starting October 8.

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Posted by Alex Vartmann
Web3 guru, and enjoys sugary liquorice.