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

“In a Way, Immortal” is the name of the NFT sold by Barcelona (FC Barcelona)
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Updated 02 August 2022
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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 $23,405, 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.”


Egypt accounts for 19% of global date output

Updated 6 sec ago
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Egypt accounts for 19% of global date output

JEDDAH: Egypt has emerged as the world’s largest producer of dates, generating around 2 million tonnes annually from more than 24 million date palms, according to the Ministry of Agriculture and Land Reclamation.

The government is seeking to further strengthen the sector by expanding the cultivation of high-value export varieties, the Egyptian Cabinet said, noting that more than 200 facilities — including processing plants and packing centers — support the industry. Many of these facilities have undergone recent upgrades through combined public and private investment.

Global demand for dates is rising steadily. According to market research firm Mordor Intelligence, the global dates market is projected to grow from about $29.33 billion in 2025 to approximately $44.07 billion by 2031.

Growth is being driven by increasing consumer preference for natural sweeteners, health-oriented diets, and improved cold-chain infrastructure that supports broader distribution and exports.

Egypt’s date exports have recorded significant growth, supported by quality improvements and successful efforts to access new markets across Europe, Asia, and Africa, the Cabinet statement said.

The release highlighted contributions from the UAE, which helped rehabilitate the date factory in Siwa Oasis at a cost of roughly 14 million Egyptian pounds ($298,000), renovated and upgraded the date complex in El-Kharga in the New Valley for about 17 million pounds, and established a date cooling complex in the Western Desert oases with a storage capacity of 4,000 tonnes. These investments have helped enhance efficiency across the production chain.

Further expansion is underway through the development of specialized industrial complexes for dates in key industrial hubs, including Sadat City, Borg El Arab, 10th of Ramadan City, and 6th of October City.

Agriculture and Land Reclamation Minister Alaa Farouk said Egypt accounts for approximately 19 percent of global date production, reiterating plans to focus on export-oriented varieties with higher added value.

Speaking during a tour of the sixth Cairo Date Festival at the Agricultural Museum in Dokki, Farouk emphasized the need to improve post-harvest systems such as sorting, grading, and packaging to ensure compliance with international quality standards.

He also urged research institutions and agricultural faculties to accelerate innovation in disease-resistant varieties and adopt smart farming technologies to address climate change and pest-related challenges.

Matrouh Gov. Maj. Gen. Khaled Shoaib underscored the importance of coordination between the agriculture ministry and major palm-growing governorates to boost production and enhance value through processing and packaging.

Cairo Gov. Ibrahim Saber said exhibitions such as the Cairo Date Festival play a key role in supporting local producers, expanding marketing channels, and stimulating economic activity, particularly for small and medium-sized enterprises, while ensuring the availability of high-quality products at affordable prices ahead of Ramadan.