Elon Musk changes Twitter pic to Bored Ape NFTs, experts advise thorough research on investments

Elon Musk changes Twitter pic to Bored Ape NFTs, experts advise thorough research on investments

Even as billionaire Tesla CEO Elon Musk has put up a collage picture featuring several Bored Ape nonfungible tokens (NFTs) as his Twitter profile picture, with Ape 5809 in the center, experts have advised that investments should be based on thorough research and that investors should not get swayed by the views of any one individual.

Musk’s Twitter profile picture change was followed by a tweet that said, “I dunno … seems kinda fungible.”

The NFTs featured in Musk’s profile picture are all from different artists, each with a unique design and serial number.

ApeCoin, used to vote on community decisions and other services within the popular Bored Ape Yacht Club (BAYC) ecosystem, immediately surged 20% to $17.60, data showed after the change, and was trading at $157 later in the day.

“We have seen the effect of Musk’s Twitter play on APE. This only goes on to prove once again how vulnerable cryptos are. Any currency, whether fiat or cryptos, should not get swayed by any one person, irrespective of his position or net worth. What is needed here is that the crypto community rallies together and does not buy or sell tokens basis the views of any one individual. There should be thorough research done before buying new tokens. People can make sound returns on their investments only if they invest for the long term based on their own research of the fundamentals surrounding the token,” says Aliasgar Merchant, Developer Relations Engineer at Ignite.

Shortly after Musk made the change, Michael Bouhanna, a contemporary art specialist at auction house Sotheby’s, took to Twitter to call him out for using the image. Bouhanna said he created the picture for Sotheby’s $24 million sale of 101 Bored Apes in September, which included Ape 5809.

Musk, who recently hogged the headlines for acquiring Twitter, is a crypto enthusiast and the recent move shows his apparent interest in NFTs too.

Anndy Lian, Chairman, BigONE exchange, says that Musk is trying to tell people that NFTs are kind of fungible in some ways and that one can replicate it freely, put it anywhere one wants but does not own it.

“The other thing is I do see a surge of 19% on ApeCoin when Elon changed his profile image to Bored Ape NFT. Playing the devil here. I would really hope to see a token plunges next time when Elon tweets about it. This would an interesting social experiment,” Lian adds.

Raj Kapoor, chief Advisor at aCryptoverse, a blockchain and crypto advisory firm, says Musk has a significant influence over the cryptocurrency market and this was clearly on display by this move.

“If we also observe, almost 10 Bored Apes had been sold since Musk revised his Twitter profile photo, and the floor price had raised by 10 Eth. I would call this the Musk Effect,” Kapoor says.

NFTs are non-interchangeable units of data stored on a blockchain that can be sold and traded and are often associated with digital files such as photos, videos, and audio.

BAYC NFTs are highly desired among NFT collectors. The recent NFT project launch by Yuga Labs, makers of the Bored Ape NFT, caused gas fees on Ethereum to rise by thousands of dollars.

Several celebrities have or had put up Bored Ape pictures as Twitter profile pictures in recent times. Basketball star Stephen Curry and musician Steve Aoki are among the celebrities who have done it.

Musk received flak from the NFT community, with some saying Elon Musk made a collage of “screenshotted bored apes his profile picture to troll NFT owners.” Others believe Musk is trying to signal his intention to get into the NFT space.

 

 

 

Original Source: https://blockchainassetreview.com/elon-musk-changes-twitter-pic-to-bored-ape-nfts-experts-advise-thorough-research-on-investments/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Elon Musk again sparks 10% rise in Dogecoin. Does it have more steam left?

Elon Musk again sparks 10% rise in Dogecoin. Does it have more steam left?
Synopsis

Anndy Lian, Chairman, BigONE Exchange said, “Dogecoin continues to rally after Elon Musk’s tweet on meme coin. This has triggered retail investor buying. Together with this trend, the number of long term holders of dogecoin rises.”

New Delhi: After a brutal correction, Dogecoin was back in demand, zooming as much as 10 per cent during Monday’s trade. The largest and biggest meme coins market cap once again topped the $20 billion mark.

Volume on the counter remained strong, with Dogecoins worth over $1.5 billion having exchanged hands in the last 24 hours.

Analysts said that Elon Musk’s tweet again sparked the rally in Dogecoin. Musk, the owner of Tesla Inc, is also known as ‘Doge Father’ among crypto fanatics.

Musk on Sunday tweeted that he is giving “serious thought” to building a new social media platform, a day after he put out a poll on Twitter asking users if they believe the social media giant adhered to the principle of free speech.

When a follower suggested that Musk buy the company (Twitter) and change the logo from a bird to a Dogecoin, Tesla Inc CEO indicated that he likes the idea.

Anndy Lian, Chairman, BigONE Exchange said, “Dogecoin continues to rally after Elon Musk’s tweet on meme coin. This has triggered retail investor buying. Together with this trend, the number of long term holders of dogecoin rises.”

The various factors give a very bullish outlook for Dogecoin, with many analysts forecasting an ascent of around 50 per cent, Lian said.

Market experts said Dogecoin has been in momentum over the last few months, experiencing a roller-coaster ride in price movements.

In a period of little more than two weeks, Dogecoin has jumped as much as 50 per cent, scaling $0.15 on Monday. However, it is still about 80 per cent below its all-time peak of $0.6848.

The volatility in Dogecoin is fairly high and investors should remain cautious while investing in it, suggested Praveen Kumar, Founder & CEO, Belfrics Group, adding that going forward, the volatility would continue and investors should look at some level of profit booking in this upwards price movement.

Experts are swearing by the ever-growing popularity of Dogecoin among retailers on a global level. The rising volumes of the token is indicating the same.

Dogecoin has a tremendous future and will see better upside due to its massive retail involvement, enhanced acceptance, and backing of legendary Elon Musk, said Rahul Kumar, CEO of Lyca Nation, a metaverse based crypto island.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Enigmatic Elon Musk Sets Crypto Riddle with Mysterious DeFi-themed Post

Enigmatic Elon Musk Sets Crypto Riddle with Mysterious DeFi-themed Post

Another day, another Elon Musk-shaped Twitter-based crypto enigma – the Tesla chief and Twitter trickster-in-chief has sent the crypto community into a twist with to a tweet about decentralized finance (DeFi).

Without explaining whether he was being serious or just trolling his followers, Musk tweeted simply:

Musk’s serious or otherwise tweets have previously seen him delve into the world of bitcoin (BTC)dogecoin (DOGE) and even non-fungible tokens (NFTs). But the DeFi-related post appears to indicate that his playfulness – or crypto keenness – knows no bounds.

Twitter users immediately began theorizing as they waited for further clues from the Tesla supremo, who recently announced that Tesla would begin accepting BTC payments for Tesla products in the USA, with more regions to follow.

The now-seemingly-ever-present Tron (TRX) boss Justin Sun seized the opportunity for some humor, tweeting,

“Can you have DeFi on Tesla? For example, you can drive and earn Tesla tokens. The more you drive the more you earn!”

The Three Arrows Capital CEO Zhu Su called Musk “sensei,” and quipped that the community would become his “deFiant pupils.”

More puns were punched out by the blockchain advisor Anndy Lian, who advised that people should “defy current financial norms to embrace the new DeFi economy.”

Others took a more skeptical view of the matter, with the podcaster Luke Martin musing,

“How long until Elon Musk starts pumping his favorite DeFi coins like he did DOGE?”

But others still expressed excitement and all-around joy at a potential hint that Musk might actually branch out into the fast-moving world of DeFi, with a few daring to dream of a world of yield farming – powered by Telsa vehicles.

And in a sharp-witted tweet, the Spartan Group General Partner Jason Choi referenced one of Musk’smost enigmatic Twitter posts yet, writing,

“In retrospect, it will be inevitable.”

But perhaps the real truth of the matter is that Musk just felt the need to indulge in a little wordplay.

In a tweet from around the same time as his DeFi post, Musk wrote,

“If there’s ever a scandal about me, *please* call it Elongate.”

Meanwhile, the top 10 DeFi coins are down by around 4%-5% in the past hour (12:36 PM UTC) and 10%-18% in a day.

 

You can read this news on Google News or on CryptoNews.

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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