Top Crypto News: 08/31

After making a daily high of $48,256, Bitcoin is now trading at $46,731. Meanwhile, altcoins are looking strong, and the second-largest cryptocurrency, Ethereum, is trading close to $3,390.

Let’s find out some interesting crypto news for the day.

1 – The State Hermitage Museum | Binance Partnership to Launch Premium NFT Collection

One of the largest and leading museums in the world, The State Hermitage Museum, has partnered with Binance NFT Marketplace to launch a premium NFT collection. As per the tweet, this premium NFT collection is backed by The State Hermitage Museum, which is based in Saint Petersburg, Russia.

Impressively, this collaboration will auction NFT artworks of world-renowned artists such as Leonardo da Vinci, Vincent Van Gogh, and Claude Monet. This NFT auction will begin on the 31st of August and run till September 7, 2021. Binance stated that “there are a total of 5 NFTs for auction, each with a starting bid of 10,000 BUSD.” Notably, the Binance NFT Marketplace launched in the month of June, utilizing the Binance Smart Chain (BSC).

2 – CryptoPunks Reached a Major Milestone, Hits $1 Billion in Lifetime Sales

One of the oldest NFT projects, CryptoPunks, hit a major milestone of $1 billion in lifetime sales. Moreover, CryptoPunks includes a total of 10,000 unique pixel-art portraits of people, zombies, apes, and aliens stored on the Ethereum chain.

As per the report, roughly $637 million of sales was generated within this month. This puts the average sale price of a Punk at 35.13 ETH, which is around $111,853. Notably, gaming and NFTs are on the rise nowadays despite a massive surge in Ethereum transaction fees. Recently, big brands such as Visa and Budweiser also bought NFTs, with Visa dropping $150,000 on a CryptoPunk.

3 – Cardano Foundation Launched Bug Bounty Program to Offer Rewards for Hackers

The Cardano team has launched a Bug Bounty program offering rewards to hackers for locating any issues within the contract platform’s blockchain. As per the tweet, the team has allocated rewards from $300 to $10,000, which will rely on the severity of the problem.

As stated, Cardano has collaborated with a vulnerability administration agency named HackerOne, which makes use of hackers to reveal cyber safety flaws. This coalition would further reward hackers for exposing any vulnerability in its contract platform’s blockchain. The team also has plans to introduce smart contracts on the ADA network. Hence, this will also improve the Cardano blockchain for good contract performance.

4 – Polygon Launches Hackathon With Cumulative Prize Pool of $100K

Our last bit of crypto news for today includes Polygon announcing an online Hackathon with a cumulative prize pool of $100K. As stated, this Polygon Grant Hackathon strives to inspire early-stage ideas and their projects with support from top industry players such as Chainlink Labs, Unmarshal, Pocket Network, and more.

The Polygon team also allocated a cumulative prize pool of $100K with the following divisions:

  • $50K Judge Pool: This prize pool is allotted for the best projects, which will be decided by a panel of esteemed industry veterans.
  • $50K Quadratic Funding Pool: In this pool, the amount received by the project is the donated amount. In addition, an extra amount is matched by the grant pool which is calculated using the quadratic funding formula.
  • VC Funding: This funding is from established VCs such as Fundamental Labs, Jsquare, and more.

Notably, this Hackathon registration started on August 30th. More details regarding this grant can be found here.

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