The G7 is getting a lot of attention with this Global Roundup Edition. It is revitalizing Russia with new powers to combat cyber attacks and disinformation originating from the country. Will they succeed?
Due to more updates, NFT sales have sunk to the lowest level since June 2021 DappRadar.. Snapchat has introduced Snapchat +, an exclusive subscription plan starting at $ 3.99 per month.
Buyers are looking to share Meta as Facebook’s parent company grows declining.
Get the full update for this week’s Global Roundup:
G7 strengthens defense against Russian cyber attacks and disinformation
G7 leaders have announced that they will work together to strengthen defenses to protect against disinformation from foreign countries.
Group of Seven leaders agreed on Tuesday to strengthen their defenses against foreign disinformation and cyberattacks, including threats from Russia.
With the rapid increase in cyberattacks in recent months since the start of the Ukraine-Russia War, the G7 leaders’ statements are substantive and show a unified front from Western and Eastern leaders.
At the end of the summit in Germany, the G7 communiqué “is also committed to further strengthening internal security in the light of cross-border threats, including threats from Russia and other authoritarian regimes.” Stated.
NFT sales fall to the lowest level in a year
The market for irreplaceable tokens, such as boring ape artwork, has skyrocketed downwards after sales have plummeted and prices of popular NFTs have plummeted in the past few weeks.
According to data tracker DappRadar, the cryptocurrency niche will record its first month with sales of less than $ 1 billion since June 2021. At OpenSea, the world’s largest NFT marketplace, sales have fallen 75% since May, appearing to be cutting the lowest level since July 2021. Data from the dunes show.
The price of the best-selling NFT is also falling. Some Otherdeed NFTs, which were in high demand at the time of launch in May and clogged the Ethereum network, have dropped their minimum rates by about 30% in the last 30 days.
Even recent events such as the high-profile acquisitions of the NFT platform (such as eBay’s acquisition of the NFT marketplace Known Origins and Uniswap Labs’ acquisition of the NFT marketplace aggregator Genie), the NFT.NYC conference in New York, and Bored Apes’ ApeFest 2022 have failed. Did. To revive investor enthusiasm.
Snapchat Introduces Exclusive Subscription for $ 3.99 / Month
Snapchat has officially launched a paid subscription plan called Snapchat +. This plan offers unique features such as changing the app icon and seeing who has re-watched the story.
Earlier this month, the company confirmed that it was testing this feature without revealing many details. Snapchat + is now official. New subscription plans will begin in the United States, Canada, the United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia and the United Arab Emirates, with more countries coming soon.
“Today, we’re releasing Snapchat +, a collection of exclusive, experimental pre-release features available on Snapchat for $ 3.99 per month. This subscription brings new Snapchat features to some of the most enthusiastic members of the community. We will be able to provide and provide priority support, “the company said.
Apart from custom app icons and story reviews, Snapchat + has the ability to unlock special badges and lock your friends as number one friends, “General directions of where your friends have recently moved. It has a function to confirm.
It’s not yet clear how Snapchat plans to distinguish between features released for beta testers and features released for subscribers.
Many social media platforms are experimenting with subscription-based services to earn more money. Last year, Twitter debuted the Twitter Blue service in Canada and Australia and later expanded to the United States and New Zealand.
Earlier this month, the messaging app Telegram also launched a paid premium tier with features such as more chat folders and the ability to send larger files (up to 4GB in size) with the app.
Snapchat achieved remarkable growth in the first quarter of 2022, but the war in Ukraine expressed concern that the company would reach its revenue targets. In May, the company announced that it could not meet its revenue targets for the second quarter of 2022.
Meta stock attracts the attention of fresh buyers
For years, investors have evaluated Facebook’s parent company as if its growth never slowed down. Fund managers who buy cheap and unfavorable stocks now have the opportunity to finally own shares in MetaPlatforms Inc.
Value companies Dodge & Cox, First Eagle Investment Management and Artisan Partners’ stock pickers bought millions of Meta shares this year. Index tracking investors will also buy. After FTSE Russell reviews its equity benchmarks each year, Meta joined other former growth darlings Netflix Inc. and PayPal Holdings Inc. on Monday. Passive portfolio dollars.
Meta began attracting bargain hunters after the company announced in February that Facebook’s user growth had stagnated and its market share had plummeted. Last week’s stock price reached a record low compared to earnings. For investors who believe Facebook’s problems are temporary, it’s a buying opportunity.
“We own Meta and it’s very bright here,” said David Katz, Chief Investment Officer of Matrix Asset Advisors at Value Farm. “We want to find a dynamic growth company at an affordable price. Meta’s outlook is good, but it’s priced to be down in the long run.”
Value funds look for stocks that are cheaper than their earnings or book value. This is often due to a business recession that at least temporarily impairs sales growth and profitability. Until recently, Meta did not comply with the bill. Due to the large number of people on Facebook, Instagram and WhatsApp, the stock traded at an average of 38 times the estimated earnings in the first five years after the initial public offering in 2012.
By the end of last year, the company’s stock, which changed its name from Facebook to Meta in October, surged more than 780% from its IPO, easily surpassing the S & P 500 and Nasdaq 100. In the meantime, revenue has increased 23 times.
However, due to stagnant user growth, the company lost half of its value this year and is currently trading at 12x revenue, 20x the Nasdaq 100 and 16x the S & P 500.
That’s the size of the week. Enjoy the weekend.
