[PRESS RELEASE – London, UK, April 17th, 2024]

In a pioneering move within the industry, MetaWin in collaboration with law firm BCLP, has successfully tokenized a Tesla Cybertruck, transforming it into a digital asset wrapped in a legally binding contract and minted as a Non-Fungible Token (NFT). This NFT, which represents full ownership rights to The Cybertruck, has been launched on the Ethereum Base Layer 2 blockchain operated by cryptocurrency giant Coinbase.

This contest marks a significant milestone as the world’s first tokenized vehicle asset, offering participants an opportunity to win a Cybertruck through a transparent, on-chain process. Entry into the competition is free and easily accessible via a Web3 wallet, with significantly reduced gas prices on the Base Layer 2 blockchain compared to Ethereum’s Main Net.

Rebecca Hanwell, Operations Manager at MetaWin, highlighted, “By leveraging the Ethereum Base Layer 2 blockchain, we not only minimize transaction costs but also ensure complete transparency and immediate transfer of ownership for every aspect of this contest – from entry registration to prize allocation.”

Users can scale their entries by purchasing MetaWin NFTs directly from the website. Each purchase includes a number of free entries, which are registered on-chain at the time of purchase. At the competition’s conclusion, the winner may opt to have the Cybertruck delivered directly or choose an alternative prize of $125,000 in USDC/T, should delivery not be feasible.

Participants can enhance their chances of winning by acquiring MetaWin NFTs directly from the platform. Each purchase includes complimentary entries, seamlessly registered on-chain at the time of purchase. At the conclusion of the competition, the winner can choose to have the Cybertruck delivered or opt for an alternative prize of $125,000 in USDC/T, if delivery is not feasible.

The Tesla Cybertruck, renowned for its unique design and celebrity endorsements, serves as an extraordinary prize. It remains under the stewardship of MetaWin, with its VIN number detailed in the NFT contract.

Rebecca Hanwell further noted, “The Cybertruck not only represents an exceptional vehicle but also embodies the technological innovation driving our vision at MetaWin. Hosting this contest on the blockchain ensures that every step of the process is as revolutionary as the prize itself.”

The competition is now open for entries, with the drawing scheduled for June 1, 2024. The winner will receive their prize promptly upon the contest’s conclusion, showcasing the efficiency and potential of blockchain technology in modernising traditional asset ownership. For more information and to participate in this extraordinary contest, visit MetaWin.com.

About Metawin

MetaWin is the premier platform for on-chain prize competitions and instant win games, offering a diverse range of entertaining challenges for users to enjoy. By harnessing cutting-edge blockchain technology, MetaWin provides a transparent, fair, and secure gaming environment, making it the go-to destination for blockchain enthusiasts and gamers alike.

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While the crypto market has seen some bearish price action recently, a few meme tokens are bucking the trend.

Over the past 24 hours, Shiba Inu (SHIB) and Pepe (PEPE) have rallied, showing the resilience of joke coins in the current market climate.

However, a new meme project called Dogeverse (DOGEVERSE) is generating the most buzz – with many touting it as the next breakout star in this niche.

Shiba Inu & Pepe Price Defy Crypto Crash with Resilient Rallies

Since yesterday, SHIB has bounced over 6% to trade around $0.000022, while PEPE is up 5% to $0.0000051.

The green candles for these two tokens stand out more when considering that the broader meme coin market has seen spot volumes contract by 35% over the same period.

That SHIB and PEPE have been some of the only meme coins to withstand the bearishness demonstrates how resilient demand remains for the top “culture coins.”

However, it’s worth noting that these tokens were actually up by double-digit percentages overnight before profit-taking caused a slight selloff this morning.

Regardless, SHIB and PEPE have managed to hold on to most of their gains.

Looking ahead, investors will be hoping they can break through minor resistance levels located just above their current price points.

Should these levels be broken, SHIB and PEPE could have a clear path back to last week’s peaks, representing a 27% to 47% rise, respectively.

Geopolitical Fears & Fed Fears Can’t Shake SHIB & PEPE

The gains made by SHIB and PEPE are even more remarkable considering the macroeconomic headwinds affecting the crypto market.

Over the weekend, geopolitical tensions flared after Iran conducted a series of drone strikes against Israel, spooking investors and leading to a sell-off of risk assets.

Meanwhile, spot Bitcoin ETFs have now seen net outflows for three consecutive days totaling over $58 million, according to SoSoValue data.

These relentless outflows could be attributed to the one-two punch of lingering sticky inflation and comments from Federal Reserve chairman Jerome Powell, who hinted at keeping interest rates higher for longer.

Yet amid all this turbulence, the demand for SHIB and PEPE has persevered.

While the overall sector has been hit, these two coins have remained resilient – which is great news for their “diamond hands” holders.

New Dogeverse Token Brings Multi-Chain Staking to the Meme Coin Space

SHIB and PEPE aren’t the only joke coins defying the meme coin market downturn.

The new kid on the block, Dogeverse, has continued gaining steam – recently passing the $6 million milestone in its presale phase.

Investors have been rushing to buy DOGEVERSE tokens at the current price of $0.000296 before an impending hike kicks in.

But Dogeverse brings much more to the table than a discounted price point.

Its multi-chain architecture allows DOGEVERSE holders to bridge their tokens between Ethereum, BNB Chain, Polygon, Solana, Avalanche, and Base.

An investor could purchase on Ethereum, bridge to Solana, and immediately start staking using Dogeverse’s protocol to earn a projected 168% APY.

This portable liquidity and staking functionality is helping Dogeverse capture the attention of new meme coin enthusiasts – and those interested in earning passive income over time.

Combine this with a capped total supply of 200 billion tokens (which contrasts with Dogecoin’s unlimited supply), and it’s easy to see why the buzz has been building on social media platforms.

Whether it’s Austin Hilton calling Dogeverse a “very cool” project or the project’s Telegram channel hitting 2,300 members, the momentum signals that this could be a new meme coin to watch in 2024.

Visit Dogeverse Presale

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Preliminary data from Farside Investors revealed that four of the new spot Bitcoin ETFs had another day of zero flows on April 16.

These were Bitwise (BITB), Invesco Galaxy (BTCO), WisdomTree (BTCW), and Hashdex (DEFI).

Additionally, Grayscale’s GBTC and ARK 21Shares’ ARKB had outflows of $79.4 million and $12.9 million respectively.

Nevertheless, Bloomberg ETF analyst James Seyffart said this was perfectly normal.

To all those people emailing us, saying we have a bug, because that many flows cannot be zero and its too much of a coincidence. See this thread from @JSeyff

Bitcoiners clearly do not understand ETFs, we are so early… https://t.co/aLhTiJX3IS

— Farside Investors (@FarsideUK) April 16, 2024

Why Zeros Don’t Matter

On April 16, Seyffart said that on any given day, the vast majority of ETFs will have a flow number of zero, adding that “this is very normal.”

He said that there are around 3,500 ETFs in the US, and on April 15, 2,903 of them had a flow of exactly zero. Moreover, nine of the newly launched eleven spot Bitcoin ETFs, including Fidelity (FBTC), had a flow of zero that day.

He explained that shares are produced or destroyed in creation units, which only happens when there is a mismatch in supply and demand.

“That mismatch has to be large enough to justify tapping the underlying market,” and a bigger mismatch than a creation unit, he added.

Moreover, creation units are the lots that ETF shares are created and redeemed in. Every ETF can have different-sized creation units. In the case of the spot Bitcoin ETFs, they are blocks of shares ranging from 5,000 to 50,000 shares, he said.

“A creation or redemption will only happen if there is a large enough mismatch in supply and demand AND the cost to make a market by doing that creation or redemption is lower than simply hedging and making markets the old fashioned way.”

Okay too many questions about #Bitcoin ETFs and zero flows — a few quick thoughts:

1. On any given day, the vast majority of ETFs will have a flow number of ZERO — this is very normal. There are ~3,500 ETFs in the US. Yesterday 2,903 of them had a flow of exactly zero

— James Seyffart (@JSeyff) April 16, 2024

Third Day of Outflows

Minor mismatches will see the market makers handle trading of shares just like they would a stock, Seyffart explained. However, “it needs to be lopsided and more than a creation unit in either direction for market makers to tap the underlying market,” he added.

Therefore, when these mismatches are large enough, there will be significant inflows or outflows of the underlying asset, and when they are too small, there will be zeros.

Nevertheless, April 16 was the third trading day in a row with an outflow as a net aggregate of $58 million left spot Bitcoin ETFs. This was due to a tiny inflow of $25.8 million for BlackRock (IBIT) and outflows from GBTC and ARKB.

The underlying asset, BTC, recovered marginally, briefly reclaiming $64,000 during the Wednesday Asian trading session, but slipped in the following hours.