Cryptocurrency is a phenomenon many still are coming to terms with. One of the biggest hurdles for the market to overcome is scalability and adoption, which will come with more people taking the time to invest and learn about what crypto has to offer.
As crypto has grown and people are getting to know the industry, there have been some crazy crypto events to unfold. To give you a personable account of some industrial activities, here are some of the more intriguing stories to come about over the years.
Cryptocurrency all started with Bitcoin in 2009. In its first year of operations, the digital coin hit a peak price of $0.40 per bitcoin in 2010. With that in mind, here is a story about four lucky winners that pocketed 25 BTC for placing 5th to 88th in a gaming competition.
In 2011, esports and competitive video gaming were starting to rise, with thousands of people joining in on the action by supporting the professionals or simply becoming one. Although growing, the monetary value of the market wasn’t what it is today, and prizes for placing often were huge.
When Feb rolled around, a major video game, StarCraft hosted an event called the iCCup Star League that gathered 56 of the top players. The prize pool of the event was $1,000 and 25 Bitcoin.
The prize allocations were as follows:
5th – 8th: 25 Bitcoin each
At the time, the 25 Bitcoin bundle was worth $10, making it nothing to get excited about. Little did the winners know at the time that if they were to keep that reward a mere nine years later, it would have been worth $1,625,000! The winners were known at the time as Sziky, Kolll, Hejek and Jumper. It is unknown what the outcome was with prizes.
Do you know what May 22 is?
It is Bitcoin Pizza day! How did it get its name, you wonder? Well, here is the story.
In 2010, on May 22, a computer programmer named Laszlo Hanyecz became the person to complete the first commercial BTC transaction, and you guessed it, he bought PIZZA!
At the time, he paid 10,000 Bitcoin for two pizzas from a pizza shop called Papa Johns Pizza. When he paid, the value of the BTC was at $40 for the total payment. Hanyecz has since told the media that he doesn’t regret paying such a large sum of BTC for two pizzas and that he feels part of Bitcoins history now.
Looking at that 10,000 Bitcoin today, those pizzas came to a whopping total of $440 million today, making them the most expensive pizzas ever bought.
Tupac Shakur is one of the most notable figures in rap, standing side by side with legends like P diddy, Notorious Biggie Smalls, and many others. Despite his death at a young age, the rapper’s popularity continued to grow, forming a large fan base over the years.
With that known by many, a former hip-hop journalist Lawrence “Loupy D” Dotson, announced he has pictures of famed and fallen rapper Tupac that were yet to be seen by anyone by himself. In an interview in 2021, Lawrence stated that “I also considered photo exhibits, museums, all kinds of ways. With NFTs, it’s not just about the asset itself but the story behind the asset. I knew I needed to get my story out there in the public eye.”
To attract sales, the 18-part NFT released was listed on Openseas, as well as the exposure to notable press coverage by RollingStone and Fortune.com. Despite this coverage, the NFTs received no sales, which could be contributed to the price, starting at 25 ETH per NFT, which equates to the value of $100,000.
There was another attempt to sell Tupac’s assets, with pictures being released of the artists taken just 14 days before his death. This picture turned NFT was also not sold. This could indicate a drop in interest in the artist. The going price of that NFT was a shocking 200 ETH ($1 million at the time). The price was later dropped to 10 ETH, but still remained unsold.
With all the unpredictability in the crypto market, it becomes hard to know when and what to invest in. To keep it safe, it would be recommended to stay with options like Bitcoin, Ethereum, and a few others. Be the master of your own destiny, and get started writing your own crypto story that will be filled with returns and successes. For your best results, make sure you down-make any bad buys by taking notes from the stories above.
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