Tezos Price Surges Again On The Back Of Doja Cat NFT Launch

The Tezos price surges again on the back of the Doja Cat NFT that was launched over the past 24 hours by the musician so let’s read more in our latest Tezos news today.

With 3.4 million followers on Twitter and 14.3 million on Instagram, the American musician and singer Doja Cat outsized the influence on pop culture. Now, she decided to launch a non-fungible token on the Tezos-powered platform OneOf. The news was quite bullish for the Tezos token as the Tezos price surges again on teh back of the NFT launch. XTZ increased by more than 24% and hit $5.87 at press time.

NFTs are all the rage this period with OpenSea which is the most popular marketplace for buying and selling the cryptographically unique tokens that hit $3 billion in volume last month. Buying one means that users became the owners of a piece of digital content like art, music, or VIP access to events by making cryptographically unique thanks to blockchain technology. Most of the popular projects were all launched on Ethereum like CryptoPunks, Loot, and Bored Apes. Doja Cat’s launch however is different. The Musician instead opted for Tezos and cited its much greener approach to what it is a very pollutive business:

“I don’t know that much about NFTs. But what I do know is that they can be bad for the environment and cost a fortune. Mine won’t.”

Tezos was cited as a green alternative to Ethereum because it uses a proof of stake consensus algorithm rather than a proof of work mechanism and the latter demands huge amounts of energy to power the physical machines that verify the crypto transactions. PoS networks use economic incentives like taking native tokens to become a node operator and help secure a network. OneOf which is the marketplace where Doja Cat launched her NFT collection is powered by Tezos. Besides owning a metallic bust of the artist, NFTs are imbued with concert tickets for concerts as well. All of the owners of NFTs will be invited to an exclusive Discord channel dubbed Planet Doja on September 20.

As recently reported, Deutsche Boerse-backed Crypto finance AG digital asset company and Swiss Incore Bank are launching a new tokenization tool based on the Tezos blockchain. The bank announced a new collaboration with Crypto Finance AG and Swiss IT consulting company firm Inacta to launched new digital financial products based on Tezos which is a decentralized open-source Pos blockchain network.