Altcoins Analysis Bitcoin Blockchain

PROJECT XENO Partners Up With Floyd Mayweather Jr. For NFT Auction

PROJECT XENO Partners Up With Floyd Mayweather Jr. For NFT Auction

PROJECT XENO, a gaming platform by CROOZ, announced today its partnership with Floyd Mayweather Jr, a former professional boxing world champion in five weight classes. The partnership seeks to launch the first NFT auction featuring special limited Mayweather characters. The auction offers a limited edition of 10 NFT up for grabs. Participants will also get […]

Crypto News

5 Ways that Blockchain is Reshaping the Betting Business

If there’s one takeaway that society has gained from the betting industry, it’s that traditional casinos are not designed to favor the bettor—the house always ends up winning. At the end of the day, a casino is simply a business, and like any other business, it is designed to ensure profitability. The reality is, traditional casinos have a slew of built-in advantages to ensure that it always comes out on top, not their customers. This is known as the “house edge” and represents the average gross profit the casino expects to make from each game. The more users play, the greater the odds are that the result of their play will match up with the house edge—and that they will lose money. This house edge vastly varies among the different casino games, with blackjack being the lowest and keno the highest. In 2013, The Wall Street Journal gained access to a private casino database, discovering that only 13.5% of bettors end up winning. Bettors getting taken advantage of by casinos is a culture that unfortunately continues to be the reality for traditional betting. However, the emergence of blockchain technology aims to change this by giving the power back to the user. Players who bet on the blockchain can bet against one another in eSports, regular sports, and other games without going against the house. While emerging metaverse casinos hold a lot of similarities to traditional casinos, there are also some notable differences. More options One of the first advantages of metaverse casinos instead of traditional casinos is the range of games available. Bettors will not only be able to bet on blackjack, slots, and roulette. Take the new metaverse casino Planet Maya for example. Planet Maya has raised an undisclosed amount from some of the top players in web3 at a staggering valuation. The platform, which aims to become the world’s first collaborative and decentralized online casino metaverse, hosts over eight categories of games, including hundreds of sub-categories, from poker, binary sports, esports betting, racing, and many more. Endless experiences Not only will metaverse casinos have endless betting opportunities, but they’ll also have a limitless pool of live experiences to immerse themselves in. Planet Maya plans on giving users the option of experiencing live entertainment such as concerts and stand-ups, live sports, esports championships, and boxing matches via the immersive experience of virtual reality. Convenience Not only will the Metaverse make betting more diverse for users, but it will also make the activity simpler. From signing in to playing online games to sitting through betting sessions. The entire experience will be delivered via a virtual headset in an immersive, true-to-life experience where users can walk around without being bound to their chairs. Transparency It’s no secret that online poker allows users an advantage by not being able to display their poker faces. The metaverse allows for reality to set in here since users can move their avatars around and have real-life simulations of body language. This way, it’s much easier for players to gauge their opponents. The transparency of blockchain allows bettors to verify the odds prior to setting bets. Its immutability of it means the odds cannot be rigged or changed mid-bet, unlike most online casinos. Security Within the transparency of blockchain is the power of privacy. Through the anonymity blockchain offers, casino metaverses are able to offer the most privacy users can get. Finally, one of the key differentiators between traditional casinos and metaverse casinos is the payment method. Metaverse casinos mainly cater to cryptocurrency transactions, allowing for much faster, cheaper, and more secure payments to online casinos. No more running to the concierge to convert cash for tokens; betting in the metaverse makes transactions not only more secure but also decentralized and free from a single authority. Up until the dawn of the metaverse, casinos in both real-life and online traditionally have had one goal, to profit from players. The emergence of DeFi and blockchain technology is giving rise to a new form of betting where players can have not only more diverse experiences but also more security, transparency, and choice.

Crypto News

The Diversity of NFTs: Beyond Digital Art

NFTs are perhaps the most misunderstood blockchain-related product. Since they entered mainstream consciousness in 2021, they have been invariably associated with digital art. But NFTs have utility beyond the high-end art world. Digital collectibles are on the rise, with athletes especially interested in using NFTs to crystallize iconic moments in sports history. In the gaming world, many developers are working on incorporating NFTs in video games as playable items. Lastly, the greatest application of NFTs is yet to come in the metaverse. In this article, we will explore the world of NFTs beyond digital art and bring your attention to some of the coolest projects in this space, and perhaps more importantly, introduce the best platforms you can use to access NFT products. Most people’s introduction to NFTs was in 2021, when digital artist Beeple, sold his artwork 5,000 days at Christies for a staggering $69million. Since then, NFTs have been a staple of mainstream culture, with digital artists increasingly using the technology as a way to directly interact with their clientele. But enough about art – what else are people doing with NFTs? Digital collectibles are perhaps the second best-known NFT product. Everyone has of course heard of Bored Ape Yacht Club, a collection of computer-generated images of lackadaisical primates that totaled over $180 million in sales in a single week in February according to Business Insider. But NFTs are also big in sports. In 2021, Tyson Fury, the lineal boxing heavyweight champion partnered with FOMO labs to create an NFT collection. The creme de la creme of the collection, ‘Lineal’ by Tyson Fury sold for nearly a million dollars, becoming the highest-selling boxing-related NFT ever sold. FOMO Lab,  the leading IP specialists, FomoVERSE architects and creation studio has brought to market a myriad of futuristic NFT collections to the space. Over in the auto world, the Miami Crypto Experience also partnered with FOMO labs to put the first-ever Porsche on the blockchain. NFTs are also disrupting the music industry through an innovative melding of blockchain technology and music: PVLACE of 808 Mafia also linked up with FOMO Labs to create a collection that included original musical compositions accompanying the NFTs. But the full extent of NFT utility will be demonstrated through the metaverse. In a cross reality space, a myriad of use cases for NFTs appears as digital admission tokens and more. The applications are endless, but what the NFT space needs is a platform that can bring together these functions in an accessible and productive setting. FOMO Lab serves as a one-stop-shop for all aspects of the NFT ecosystem, from a launchpad for assisting in the growth of new crypto projects, to a multi-chain NFT marketplace – The Avenue Marketplace – which has interoperability across different blockchains. This type of holistic approach to creating an NFT ecosystem is the kind of forward vision needed to truly push the boundaries of what blockchain technology can achieve and to provide users with ownership over their digital assets.