Crypto News

The Evolution of Gaming and Its Integration into the Crypto Universe

From arcade systems to home consoles and mobile apps, gaming has made its way into the lives of billions across the world. As a result, gaming is a popular activity for many in the modern age and remains one of the globe’s most profitable industries. The first recognized example of a gaming machine debuted at the 1940 New York World’s Fair and was based on the ancient game of Nim. Played by about 50,000 people, the computer won more than 90% of the time. In the mid-20th century, gaming was regarded as an oddity and primarily was just the subject of scientific and academic research projects. It was not until 1967 that the first prototype multiplayer video game system emerged. By 1972, the design turned into the Odyssey console that later inspired Atari’s Pong video game. The 1990s finally brought the gaming industry to prominence. The rise of 3D gaming and successful franchises like Mortal Kombat and Sonic the Hedgehog cultivated generations of loyal gamers. Interest in gaming also established companies like Nintendo and Sony as household names. The Internet Revolution And The Rise Of Modern, Digital Gaming The rise of the internet and better computer processing power ushered in new gaming frontiers. Games and graphics became more intricate while internet servers allowed global gamers to play together. In addition, online storefronts like the Apple App Store and Xbox Live Marketplace made buying and updating games much more effortless. Ease of access through these tools helped bring gaming into popular culture. In 2018, a Newzoo report revealed how mobile gaming revenue had captured more than 50% of the global gaming market, bringing in about $70 billion in revenue after enjoying a decade of double-digit growth. By 2021, the worldwide gaming market revenue had jumped to $178.2 billion as continued technological innovation led to more impressive year-over-year totals. Estimates project the number of global video game players will jump to just over 3 billion in 2023, up from 2.69 billion in 2020. While the popularity of titles like Lost Ark, Fortnite, and PlayerUnknown’s Battleground has drawn many to the gaming industry, growth also comes through the marriage of cryptocurrency and gaming, primarily through the ‘play-to-earn’ model. Blending entertainment with financial speculation, Axie Infinity users can buy NFTs and use their virtual ‘creatures’ to win battles and create new NFTs. The platform made $1.3 billion in revenue in 2021. From Q1 2021 to the same period in 2022, blockchain-based gaming jumped by 2,000%. Crypto Developers Look To What Works In Traditional Gaming And Aim To Replicate Crypto gaming has grown in popularity as developers work to understand how to welcome traditional gamers into the Web3 world. One strategy is to offer free-to-play gaming options for those who might be newer to the cryptocurrency world, following in the legacy of apps like Angry Birds or Candy Crush that allowed users to jump into a game quickly. Crypto gaming’s social aspects are also taking shape as guilds and DAOs begin to spring up in conjunction with the space’s more popular titles. But the play-to-earn model, where crypto users can collect assets while playing, stands as one of the most transformational aspects of the gaming world. The structure brings in a shift from a ‘publisher or developer first’ game economy to a ‘player first ecosystem’ where gamers stand to benefit instead of companies releasing titles. As a result, play-to-earn games like Axie Infinity and DeFi Kingdoms continue to grow in popularity as gamers flock to platforms where they can enjoy an energetic community and win. The technology continues to prove its potential as projects like Illuvium, one of the most anticipated blockchain titles in the gaming industry, develop gameplay similar to most AAA games available today. There is no doubt that the potential for play-to-earn games is nearly limitless. They can cater to different gaming genres, one being a classic card trading game where users can hold their card packs as NFTs. One project that aims to do just that is Shiryo. Shiryo players will be able to mint packs of NFT cards, form decks, and compete against each other in individual games and weekly competitions for rewards that include tokens, cards, card packs, and avatars. Powered by the Ethereum blockchain, Shiryo’s multiplayer experience comes from Amazon’s AWS Gamelift service, as traditional platforms like Steam do not allow NFT-based games. Team members plan to release more packs and boost gameplay in the future after launching the first couple of phases in late 2021. Continued investment from venture capital firms and the play-to-earn model’s popularity only attracts more people to blockchain-based gaming. As a result, the industry remains strong even amid immense volatility in cryptocurrency markets. Crypto gaming only looks to accelerate as more people, especially traditional gamers, get comfortable with virtual currencies and see how crypto-focused games continue to deliver on their promises.  

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Sinan Energy — Renewable Energy Plants: The 21st Century’s New Gold Mines

Sinan Energy — Renewable Energy Plants: The 21st Century's New Gold Mines

Renewable energy is a big emerging market and experts believe new-age renewable energy plants are the gold mines of the 21st century. This is mainly because of the benefits derived from renewable energy, which include environmental benefits, low investment risk, consistent cash flows, explosive demand, and reduced operating costs. Carbon credits further increase the potential […]

Crypto News

How Plugin’s Blockchain Technology Helps Industries Adapt To Climate Change

With the growing threat of climate change, many industries need precise weather forecasting every hour. Plugin’s blockchain solution provides decentralized, verifiable weather data. Problems with existing weather information technology Weather intelligence platforms collect weather-related information from distributed radar and satellite systems. While this is useful for gathering data from remote corners of the world, it limits the scope of weather forecasts to wider geographic regions, such as cities and states. These generic weather forecasts don’t provide details on how the weather will change in a specific street or neighborhood. But having this type of information empowers businesses to make more informed decisions. Why industries need better weather data Weather data is collected in various ways globally, but the most popular data collection methods are satellites and hyperlocal sensors. While satellites cover a wide range of geography, they compromise accuracy in specific areas that hyperlocal data can mediate. Hyperlocal data collection is the most efficient form of data collection. One of the largest industries relying on weather updates is the agriculture sector, and the more detailed the weather forecast, the better. Bringing that information to farmers all over the world will prove to be a challenge, although blockchain technology could facilitate the matter. The future effects of climate change will necessitate better weather information for agriculture. IPCC chairperson “Hoesung Lee” said that  “The next few years will be crucial for the state of climate change in this century. This is why an updated assessment of mitigation is more important than ever”. Why extreme weather increases the importance of weather data Many industries, ranging from aviation and agriculture to automobiles and transportation, are significantly affected by weather phenomena like fog, freezing rain, thunderstorms, heavy wind, or even a drop in temperature. The present increase in extreme weather events, accelerated through climate change, is significantly increasing the importance of detailed weather data from trustable systems. Advantages of putting weather data on the blockchain With every industry getting disrupted by new technology, blockchain wins over competitors by offering immutability, trust, security, and decentralization. Putting weather data at a granular level on the blockchain powers many use cases with real-time data at the push of a button. The alternative is a centralized data structure, which is vulnerable to malicious attacks and systemic errors. XDC’s Plugin Decentralized Oracle Network offers due support here. How Plugin Weather Forecast Node (Plugin WFN) solves the weather data problem Plugin, a decentralized oracle built on XDC Network offers decentralized weather data. This data gets collected and processed through registered weather stations (hyperlocal sensors) placed across different places worldwide. The weather data from these nodes gets collected and processed at near real-time velocity and pushed into a data lake. This can be scaled up highly by setting up similar units across the globe, forming a great data lake. The information collected in Data Lake is at a granular level. Each weather unit has latitude and longitude coordinates tagged with data. This provides weather information that is cryptographically signed when uploaded to the Plugin blockchain, so anyone who needs weather information for a smart contract can verify its provenance. The provenance information cannot be forged or falsified. Plugin WFN data providers are duly compensated by Plugin for providing an important fuel for the future: weather data. There are periodic checks performed at registered weather nodes as a measure of quality. Due to climate change-induced extreme weather phenomena, such weather data is needed for validation and verification of crop insurance claims, which offer payouts when specific conditions are met. It can also be used by commodities investors hedging against drought or even logistics companies to re-route their cargo on land when unfavorable weather conditions persist. How Plugin’s system will build a new economy The Plugin Weather Forecast Node use case setup by Plugin on the XDC Network brings the data from various regions across the globe at a granular level. Through efficient data processing from various units across the globe, Plugin’s data lake will build a new economy in the future, decentralized world. Using the decentralized application UI, users can get real-time or near real-time data from weather units currently deployed across the region. By selecting ‘Country’, ‘State’, and ‘City’, users can view the data at a latitude/longitude level. More filters can be enabled to drill down to the granular level. These data can be pushed onto the blockchain using smart contracts, and events can be triggered to make insightful decisions. Plugin Weather Forecast Node is currently open to the community members. In the near future, it will improve the efficiency of many industries, including agriculture, aviation, and insurance. Plugin (ticker PLI) is listed on various crypto exchanges such as Bitrue, Liquid, HitBTC and Globiance. The future is here. WELCOME TO THE PLUGIN WEATHER FORECAST NODE (Plugin WFN).  

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Brace For Impact: A Dot Com Magnitude Crash To Rock The Crypto Market?

The crypto market has been through a rollercoaster of a weekend. It follows on the back of bitcoin listing its footing above the $40,000 level last week, although the digital asset has done a good job holding above the $36,000 support level. However, it seems that the end of this bear trend may not be near given some recent chart action happening in the stock market. If this prediction comes to fruition, then the market may see more value shaved off its market cap soon. A Dot Com-Like Crash? Peter Brandt has recently posted a concerning chart that shows eerie similarities to the dot com crash of the early 2000s. Brandt is known for predicting the crypto market crash of 2018 and is a respected chartist in the space. Having proven to know his charts, his predictions have become quite popular among crypto investors. Related Reading | TA: Bitcoin Consolidates Below $39k: What Could Trigger Another Decline This is why Brandt posting a chart of the Nasdaq 100 that looks like that of the dot com chart right before the crash has worried investors. Basically, if this turns out to be like what happened in 2001, then the market may see a lot of stocks lose their value very quickly. BTC recovers above $38,000 | Source: BTCUSD on TradingView.com Now, it is important to note that the Nasdaq is trading at a significantly higher point than it did in the early 2000s. However, the recent market movements seem to closely mirror the movements recorded before the crash. Brandt has termed this deja vu with arrows pointing out the similar market patterns from both points in time. "It's Deja Vu all over again"–Yogi Berra, late 20th Century American philosopher pic.twitter.com/aFch8sx1PA — Peter Brandt (@PeterLBrandt) April 21, 2022 How This Affects Crypto As the crypto market has gotten bigger, the correlation with the stock market has risen drastically over the past few months. This has closely tied the movement of the stock market to that of the crypto market. What this means is that when the stock market goes up, so does the crypto market, and vice versa. Therefore, a dot com magnitude crash in the stock market could have some dire implications for the crypto market. If stocks were to lose a significant portion of their value over a short period of time, the crypto market is likely to follow, leading to massive crashes across both large and small cryptocurrencies alike.  Related Reading | Bitcoin Struggles To Hold $40K While Crypto Track US Stocks This does not fall far from Brandt’s prediction for the leading digital asset in the crypto market. Bitcoin which continues to face opposition at the $40,000 mark may decline to as low as $28,000 according to Brandt. This would be the completion of a bear channel, he added. Regardless of whether a dot com-like burst is imminent or not, indicators for the crypto market are currently not favorable. With the market down almost 50% from its all-time high, there may be more downtrend to come as investor sentiment continues to shift into the negative. Featured image from CNBC, chart from TradingView.com