Meta Partners With Polygon For NFT Push, Madonna and Beeple Launch NFT Collection, El Salvador Buys the Dip

Written by Lindi Miti

May 11, 2022

Meta Partners with Polygon for NFT Push

Ryann White, CEO of Polygon, announced on Twitter that 0xPolygon is partnering with Meta, Mark Zuckerburg’s metaverse project, to create an NFT platform for Facebook and Instagram. 

Meta announced their NFT pilot on Instagram this week. They will give NFT access to a small number of US-based creators. Meta marketplaces (Instagram and Facebook) currently have 1 billion active users, compared to OpenSea’s, the largest NFT marketplace, with 1 million active users.   

Polygon, a layer two Ethereum scaling platform, was chosen by Meta because of its neutral carbon footprint, its ability to scale on Ethereum, and its ecosystem infrastructure.   

Madonna and Beeple Launch NFT Collection

Madonna, the queen of Pop Music, collaborated with Beeple, an American digital artist, to launch an NFT collection called Mother of Creation. Mother of Creation collection consists of three animated videos representing a different form of birth in contemporary society. 

All three NFT videos are one minute in length. The first piece, Mother of Nature, denotes a woman giving birth to a tree and features poetry by Madonna. The second piece, Mother of Evolution, depicts a woman giving birth to butterflies and features lyrics from Madonna’s Justify My Love. The third and final piece, Mother of Technology, shows a woman giving birth to robotic centipedes and features a poem by Rumi. 

The collection will be available for auction, on Wednesday 11th of May, at SuperRare NFT Marketplace. All proceeds will go to three charities that benefit women and children in need. 

El Salvador Buys the Bitcoin Dip and Reveals Bitcoin City Plans

President of El Salvador, Nayib Bukele, announced on Twitter that El Salvador bought the bitcoin dip. The country topped up its bitcoin holdings with an additional 500 bitcoins purchased at an average price of $30700. 

El Salvador now has 2,301 bitcoins, valued at $71.1 million at current prices. President Bukele started buying bitcoin in September 2021. The country adopted bitcoin and the US dollar as legal tender in the same month. 

President Bukele also revealed the architectural plans for El Salvador’s Bitcoin City the same day. El Salvador plans to build a ‘Bitcoin City,’ powered by geothermal energy from a nearby volcano. The construction will begin in 2022, and the city will have no taxes except for value-added tax.

Written by Lindi Miti © Crypto University 2022   

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