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Binance Wishes to Co-invest $500M In Elon Musk’s Takeover of Twitter

Daily Market Wrap

Crypto market cap: 1.68 trillion, down 7.30%

BTC price stands at USD 36,459, down 8.29%

ETH price stands at USD 2,747, down 6.77%

Top gainer: Anchor Protocol (ANC), up 15.47%

Top loser: STEPN (GMT), down 18.63%

News of the Day

Why it matters:

  • According to an updated Schedule 13D filing with the SEC, a $500 million commitment from Binance and $800 million from venture capital firm Sequoia were revealed

  • A Schedule 13D is a form that any entity that wishes to acquire more than 5% of a company’s equity shares must submit to the SEC

  • Some say the commitment list has led to speculation about how will such crypto exchanges change the makeup of “Crypto Twitter”

Crypto daily spotlight

Brief introduction: Illuvium is an open-world open-world fantasy battle game, NFT creature collector, and auto battling game built on the Ethereum Blockchain. As the first AAA game on Ethereum, Illuvium seems to take pride in providing a source of entertainment to both casual gamers and hardcore DeFi fans through a range of collecting and trading features.

Why it matters:

  • 20000 out of 100000 Land NFT plots in total will be available for the first sale

  • All the land-type NFTs will be used in Illuvium: Zero, which is an upcoming mobile companion game created by the makers of Illuvium

  • Owning a land in Illuvium: Zero will benefit land holders to harvest Fuel which is used in the main Illuvium crypto game. Also, approximately 5% of all in-game revenues go to landholders

  • There will be 5 tiers of Land Plot in the First Sale in which Illuvium will host a live event streamed on Twitch to auction the tier 5 land parcels

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