Crypto Moves — Ethereum and Bitcoin fall; Barcelona auctions NFT of Cruyff goal

RIYADH: Bitcoin, the leading cryptocurrency internationally, traded lower on Monday, falling by 1.73 percent to $23,4.5, as of 7:58 a.m. Riyadh time.

Ethereum, the second most traded cryptocurrency, was priced at $1,695 falling by 0.53 percent, according to data from Coindesk.

Barcelona auctions NFT of Cruyff goal for $693,000

As part of its efforts to combat massive debt, Barcelona auctioned off a digital artwork depicting a goal by Johan Cruyff for SR2.6 million ($693,000), according to the Associated Press.

The club’s first non-fungible token sold for SR2 million at an auction conducted by Sotheby’s in New York on Friday.

The final sale price was SR2.6 million due to the auctioneer’s fees.

This artwork depicts Cruyff’s memorable goal from 1973 when he soared through the air with his leg outstretched. “In a Way, Immortal” is the name of the NFT, which was inspired by a quote by Cruyff, the legendary player and coach at Barcelona, AP added.

To pay off its SR3.8 billion debt, Barcelona has been looking for new sources of revenue. Additionally, Camp Nou recently sold off 25 percent of its Spanish league television rights for 25 years, including its naming rights to Spotify.

Ethereum co-founder criticizes metaverse efforts

Ethereum co-founder Vitalik Buterin took to Twitter on Saturday to comment on the “existing corporate attempts to create a metaverse.”

 Buterin stated that a metaverse will happen, but he does not believe the current attempts will succeed, according to Bitcoin.com.

“The ‘metaverse’ is going to happen, but I don’t think any of the existing corporate attempts to intentionally create the metaverse are going anywhere,” Buterin said.

The Ethereum co-founder added: “It’s that we don’t really know the definition of ‘the metaverse’ yet, it’s far too early to know what people actually want. So anything Facebook creates now will misfire.”