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Weekly Crypto Roundup: Adidas Launches NFT Collection

Today’s Bitmama’s daily roundup of crypto news that covers the most interesting developments in the crypto industry. From Adidas unveiling their NFT collection, to the e-naira currency that isn’t appealing to consumers despite claims of an “Excellent” acceptance rate, in addition to Jack Dorsey appointing three Nigerians to run the Bitcoin trust funds, there’s plenty going on. Let’s get started.

Adidas launches NFT collection
Adidas has partnered with the specialist in non-fungible tokens Bored Ape Yacht Club, cryptocurrency investor Gmoney along with Punks Comic to release its own collection of NFTs as the brand of sportswear continues to expand into the realm of metaphysics.

The Adidas Originals NFT collection which was launched on Friday 17 December 2021, provides the possibility of virtual wearables in the Blockchain-based games in the metaverse known as The Sandbox. The collection will also make physical products, like the hoodie, a tracksuit , and a beanie.

“As one of the aspects of our mission to recognize ideas that are shaping the new era of originality and innovation, we’ve found ourselves at the top of the creative spectrum and innovation, which is known as the metaverse that is open,” Adidas Originals Marketing and Communications Vice President Erika Wykes-Sneyd stated in a letter by News. “It’s an ideal location for Adidas Originals to be: in a world where the possibilities are unlimited and where anyone can create and be recognized with their most innovative ideas.”

The Adidas NFTs are available on for 0.2 ETC ($766) in units. Physical and virtual wearables will become available by 2022.

CBDC (E-Naira) is not appealing to users despite claims of ‘Excellent’ rates of adoption
Certain Nigerian professionals have raised doubt on assertions made by officials of the Central Bank of Nigeria (CBN) that a large portion of the population in the nation of over 200 million are interested in shifting to the recently introduced Central Bank electronic currency (CBDC) which is the electronic naira.

The experts say the electronic currency, which was originally only accessible to Nigerians with bank accounts isn’t equipped with features commonly present in privately issued cryptocurrency. Additionally it is difficult to find enough information about the number of e-nairas that are in circulation. According to experts, it’s that lack of these qualities that make widespread acceptance of CBDC CBDC an extremely difficult target to reach.

Since the introduction of the e-naira late October, CBN has regularly issued updates that indicate Nigerians are excited about a new digital currency that government officials claim will bring millions of dollars in the country’s economy.

Jack Dorsey appoints three Nigerians to head the Bitcoin trust funds
Dorsey who has resigned from her position as Twitter CEO, created Dorsey, who resigned as CEO of Twitter, created the Bitcoin trust fund in collaboration with American hip-hop artist Jay Z.

“I’m extremely grateful for you all and am so in awe,” Dorsey tweeted on Wednesday 15th December 2021, when he announced the top leaders of the Bitcoin trust fund.

They have all been working to support bitcoin development efforts across Africa. Dorsey explained that the team picked the four bitcoin developers from the 7,000 applicants.

“They’ll be working on defining the principles of operation as they contemplate how best to distribute the 500 bitcoin to the development of the project,” Dorsey tweeted.

Former Twitter CEO was a long-time advocate of Bitcoin and has added bitcoin to payment systems of his payment firm, Block. He has repeatedly hinted at leading a global push for cryptocurrency adoption despite the fierce opposition from some countries, such as Nigeria which is where three of the BTrust chiefs hail from.

Dorsey on June 20, 2021 stated that “the Nigerians Nigeria will be leading the way in bitcoin” despite Nigerian authorities’ efforts to stop cryptocurrency trading, citing a an embargo imposed in CBN. Central Bank of Nigeria (CBN).

The Nigerian government’s position on cryptocurrency trading is extended to traditional and fintech banks that act as a gateway to trade and exchange funds.

Dorsey as well as Jay Z had previously announced their plans to donate 500 BTC to create BTCtrust which is an endowment that will help develop bitcoin with a concentration on teams on the continents of Africa as well as India.

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