Binance ropes in Khaby Lame as Brand Ambassador

The popular crypto exchange announced Khaby Lame – the most popular Tik Tok artist as their brand ambassador. The Senegalese artist is 22 years old and has more than142.8 mn followers. Binance has signed the artist to debunk the myths around Web3. Khaby will use his signature style to dispel the misconceptions around Web3. 

Khaby said in a statement that he was curious about the Web3 space and always wanted to do something around it. So when a leader like Binance approached him, he jumped right in because he believes that the agenda of simplifying Web3 for everyone aligns with his skill of showcasing ‘life hacks’. 

Binance took to Twitter to announce their partnership with Khaby Lame and said “Meet our new brand ambassador @KhabyLame, the most followed creator on TikTok’’ Through this partnership Binance aims to spread Web3 education, launch Khaby Lame’s NFTs and grow Binance’s ecosystem. 

The global vice president of marketing, Binance, James Rothwell added “Lame has become a cultural icon and one of the most entertaining creators globally – His charm and sense of humor, will bring relevance and relatability as we scale Web3 adoption’’.

Crypto assets like NFTs have really empowered the creator community. Snoop Dogg and Eminem also joined the Web3 club with their latest video where they transform into Bored Apes (the famous Bored Ape Yacht Club NFT collection) and now Khaby became the brand ambassador of Binance. 

Also Read: Top Crypto Partnerships in 2022

The State of NFTs in the bearish market 

Market Cap of NFTs’	$12,101,817,748.22
Sales Volume of NFTs’	$7,431,889.53
Sales of NFTs’ (last 24 hours)	21,690

*All prices are latest by 11:30, 01  July  2022.

Source: Coinmarketcap 

According to the numbers, the NFT sales have plummeted. Top-performing NFT projects like BAYC also took a hit in the last few weeks. Top NFT collections like Otherdeed from Otherside are down by 0.05% while Crypto Punks are down by 0.02% 

The Terra Luna collapse and other crypto assets taking the bearish sentiment of investors towards Ether which happens to be the king of NFT purchases is one of the reasons that NFTs are experiencing a shakedown. 

According to reports by Nansen, the volume of NFT trades had declined by 55% and Eth’s value slipped to 43%. The numbers clearly show why the trades have been so low. An analyst at Bloomberg recently stated that the markets have seen the bloodbath and will return to the consolidation phase soon. 

As per today’s NFT statistics, Bored Ape Yacht Club sales have jumped to + 0.07% with floor price at 90.48 ETH and recording 7 sales in the last 24 hours. The estimated market cap of BAYC is 1,039,358.62 ETH as of today. 

Another interesting observation by market watchers is that the price value of the top-performing NFTs has considerably dropped along with crypto assets dipping in the red, the trades and number of collectors haven’t dropped largely in comparison to the volume and price drop of NFTs. These numbers and observations indicate that there is still hope for NFT artists and collections to see brighter days ahead. 

Additional Read: How to buy NFTs