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Uncategorized

Arweave’s Token Soars After Meta’s Integration Announcement

November 3, 2022 - Around 2 mins mins to read
AR, the native token of blockchain-based data storage service Arweave, soared after Facebook and Instagram’s parent company Meta announced plans to preserve its creators’ digital treasures on the Web3 platform.
Arweave's Token Soars After Meta's Integration Announcement
Arweave's Token Soars After Meta's Integration Announcement 3

Late Thursday, Stephane Kasriel, Meta’s head of commerce and finance technology, announced the Arweave integration on Twitter.

According to the Web3 platform’s CEO and co-founder Sam Williams, the connection means Instagram users may now issue digital collectibles for their posts that are housed on Arweave.

In other words, Meta is using decentralized storage technology to offer data permanence to its network. Arweave allows users to save information indefinitely. Once entered, the data cannot be changed. Users must spend the AR token to obtain storage space.

As a result, in the last 24 hours, the token has increased by more than 70%, from $10.2 to $17.7. The market cap has risen to $1.029 billion, making it the world’s third-largest Web3 token.

Arweave's Token Soars After Meta's Integration Announcement
AR daily chart. Source: Coincu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
Uncategorized

Arweave’s Token Soars After Meta’s Integration Announcement

AR, the native token of blockchain-based data storage service Arweave, soared after Facebook and Instagram’s parent company Meta announced plans to preserve its creators’ digital treasures on the Web3 platform.
Arweave's Token Soars After Meta's Integration Announcement
Arweave's Token Soars After Meta's Integration Announcement 6

Late Thursday, Stephane Kasriel, Meta’s head of commerce and finance technology, announced the Arweave integration on Twitter.

According to the Web3 platform’s CEO and co-founder Sam Williams, the connection means Instagram users may now issue digital collectibles for their posts that are housed on Arweave.

In other words, Meta is using decentralized storage technology to offer data permanence to its network. Arweave allows users to save information indefinitely. Once entered, the data cannot be changed. Users must spend the AR token to obtain storage space.

As a result, in the last 24 hours, the token has increased by more than 70%, from $10.2 to $17.7. The market cap has risen to $1.029 billion, making it the world’s third-largest Web3 token.

Arweave's Token Soars After Meta's Integration Announcement
AR daily chart. Source: Coincu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News