Bitcoin Surges Past $61,000 After Weaker-Than-Expected Jobs Report
Today, Bitcoin climbed back above $61,000 after a weaker-than-expected jobs report. Block and Coinbase posted earnings beats, bolstered by Bitcoin’s first-quarter rally. In this article, we’ll delve into how fashion brand Mintage is betting its brand on the promise of Web 3 and NFTs.
Earnings Reports from Coinbase and Block
Coinbase and Block both released earnings reports Thursday night, reporting better-than-expected results on the back of Bitcoin’s Q1 rally. Let’s dive into the details of their earnings:
– Coinbase reported $1.64 billion in revenue in the first quarter, surpassing expectations of $1.34 billion.
– Adjusted EPS came in at $2.15 compared to estimates of $1.9.
– The company reported $935 million in consumer transaction revenue, up over 100% from a year prior.
– Block reported $5.96 billion in revenue, exceeding expectations of $5.82 billion.
– The company quadrupled its net income from a year earlier.
– Jack Dorsey explained that Block spends less than 3% of its resources on Bitcoin-related projects but will be investing 10% of its gross profit from Bitcoin products into Bitcoin purchases.
Tether Partners with Chainalysis
Tether announced a partnership with blockchain analytics firm Chainalysis to monitor secondary market trading. This collaboration aims to include sanctions monitoring to identify addresses of sanctioned entities and detect illicit transfers.
The Story of Mintage: Integrating Blockchain Technology
The clothing brand Mintage has revolutionized the world of vintage garments by integrating blockchain technology. Let’s explore how Mintage utilizes blockchain and NFTs in their fashion brand:
– Mintage integrates blockchain technology into garments to enhance authenticity and storytelling.
– The brand uses NFC chips to verify the authenticity of vintage items and provide a digital experience for customers.
– Mintage launched collections like “Fruits and Veggies Jeans Drop” and “Patchwork Collection,” embedding NFC tags linked to NFTs in vintage apparel.
Future of Mintage and Collaborations
Mintage has collaborated with iconic brands like Wrangler to create collections of vintage items infused with NFC chips. The brand foresees future collaborations with traditional fashion houses and continued innovation in the Web 3 space, emphasizing consumer loyalty programs and business opportunities.
Hot Take: Fashion as the Leading Use Case of Web 3
The future of fashion lies in integrating technology like blockchain and NFTs into products. Fashion brands, including Mintage, are paving the way for the industry’s transformation. Stay tuned for more innovative collaborations and advancements in the Web 3 space!
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