Crypto on LYO: The Blend — Buy NFTs with Mastercard, Consumer Interest in Crypto Increases, Stablecoin Pegged to Electricity

What happened in the crypto world in the last week? Let’s see some interesting news together!

Buy NFTs with Mastercard

Mastercard has partnered with multiple platforms such as Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and MoonPay to allow its users to buy non-fungible tokens (NFTs) without having to purchase cryptocurrency first.

The 2.9 billion users of the payments giant can now purchase NFTs using their Mastercard debit or credit card on various marketplaces.

Interest Rate in Crypto Sector Increases

Bank of America conducted a survey of 1,000 current and potential users of cryptocurrency exchanges. The results showed that 91% of respondents express interest in buying crypto in the next six months.

Moreover, 30% said they will not sell any of their crypto assets in the next six months. Regarding crypto payments, 39% said they use it for online transactions and 34% use it for in-person purchases.

Stablecoin Pegged to Electricity Developed by Scientists

Scientists at Lawrence Livermore National Laboratory in California have created Electricity Stablecoin (E-Stablecoin), a fully collateralized stablecoin pegged to electricity. This innovation allows the transmission of electricity without physical wires or a grid.

To mine an E-Stablecoin, it requires an input of one kilowatt-hour of electricity. The mined stablecoin can then be used for transactions, just like any stablecoin. For the energy to be extracted, the stablecoin should be burned, which also comes with a fee.