Crypto News Ethereum

Snoop & Gary Vee Got “Ownership” Of A Basketball Team With Ice Cube’s BIG3 NFTs

These BIG3 NFTs might become one of this year’s most entertaining stories. The 3-on-3 basketball league created by Ice Cube and Jeff Kwatinetz offers utility beyond belief for its “BIG3 Ownership” NFT collection. The Fire tier NFTs holders will get to effectively affect the game and the league via video calls with the team and coaches. They’ll also get the chance to be Team CEO, which is what Snoop, Gary, and the other projects seem to be looking for. “A BIG3 NFT holder is effectively a part of the team from the moment they wake up to the moment they go to sleep,” claims the league. These Ethereum-based NFTs come with “ownership-like benefits” in “two-tier options comprising 12,000 editions – 1,000 for each of the league’s twelve teams that include 25 Fire priced at $25,000 each and 975 Gold priced at $5,000 each.” From those 25 Fire ones, a Team CEO is selected. So, each of the prominent buyers got all of the available ones for particular teams. The BIG3 league’s season five starts on June 18th, and it will receive live coverage on CBS and Paramaunt+. Will the owners and their NFT collections receive some of that coverage? And will they bring their own particular audiences to the BIG3 basketball league? The BIG3 League Announces Its NFT Series Recently, “Ice Cube guaranteed on a recent Twitter space that the league will be around for 100 years”. Considering the BIG3 is going into its fifth year, what we have here is a low time preference situation. In the blog post announcing the superpowers that the BIG3 Ownership NFT collection contains, they presented the project comparing Web 2.0 to Web3. “You can read a blog, comment on a blog, or even start your own blog. You can follow your favorite players on Twitter or Instagram. All of that is fine, but none of it allows you to make an actual impact on your favorite players, team, or league. Web 2.0 provides engagement. Web 3.0, which the BIG3 is diving into with this NFT drop, takes you past engagement and into an empowering experience.” The NFT excels in utility, among many other things it guarantees: attendance to parties after gamedays and invites to practices. Reserved owner suites, backstage access area, player and coach meet-and-greets. Plus, a championship game experience and “even a championship ring if your team wins the whole thing.” Plus, because it’s the law for NFT projects, “a dedicated Discord page for BIG3 owners.” However, the killer app is ownership. How Do The BIG3 NFTs Guarantee Ownership The new Team CEO is chosen among the 25 Fire tier NFT holders. Besides that, every one of those 25 will have “a direct and tangible impact on the league” by: “Access to weekly calls with your team to talk strategy leading up to each game” “Weekly video calls with referees to discuss rules and how you think their calls impacted the last game” “The unique opportunity to connect with commissioner Clyde Drexler as well as league founders Jeff Kwatinetz and Ice Cube three times a year to discuss fundamental strategy, changes, and ideas for the league” So yeah, owners will get to speak with Clyde the Glide and Ice Cube.  ETH price chart on Kraken | Source: ETH/USD on TradingView.com The New Owners: Snoop Dogg, Gary Vee, And More This is where it gets interesting. Since we’re talking about an NFT, members of the community came out in full force to support the idea. And to get into the conversation. So far, the celebrity owners that bought the 25 Fire tier NFTs from their respective teams are: Snoop Dogg and co-founder of PayPal Ken Howery got the 25 for team Bivouac. Gary Vaynerchuk and his VeeFriends NFT collection got the Triplets, who won the 2019 Championship. As referenced in our article about them, NFT community DeGods bought Killer 3. Bill Lee from MyDoge wallet brought the Dogecoin community by purchasing the 25 Fire-Tier for Aliens using DOGE. This was “the largest commercial transaction in history for the cryptocurrency.” Krause House, a basketball-focused Decentralized Autonomous Organization, got the Ball Hogs. Relevant Quotes From BIG3’s Site Speaking on the phenomenon, BIG3 co-founder Ice Cube said: “We are absolutely thrilled to have Snoop, Ken, and their communities on board with the BIG3. Having someone with Ken’s knowledge and experience wanting to be a part of our league demonstrates that we are moving in the right direction. Snoop is an undisputed legend who has jumped headfirst into the Web3 space and clearly understands the importance and the value of what we are trying to create. Together, I know they will take Bivouac to new heights and we can’t wait to get started.” For his part, GaryVee said: “I’ve been incredibly impressed with the pop culture relevance of the BIG3 league. Over the last several months I’ve been able to get closer with Cube and the rest of the team and I’m extremely excited about the impact of the Blockchain on professional sports. All of those ingredients create a scenario where I am excited to join this incredible league.” And BIG3 co-founder Jeff Kwatinetz contributed:  “We are thrilled to partner up with Bill and have the MyDoge and Dogecoin communities be represented by the Aliens. We have made history with this transaction, and we hope it inspires others in the Doge world to support the team whether by purchasing the Gold-Tiers, by attending games, or by tuning in.” As you can see, everyone is focusing on communities and the merging of the audiences. This is a win-win situation if we ever saw one. There could very well be enough star power in this deal to take both the BIG3 League and the NFT community to new heights. Featured Image: BIG3 Ownership NFT promotional image from the site | Charts by TradingView

Crypto News

Blue Chip NFTs 101 – A Brief Look At Solana’s ‘DeGods’

In our latest installment of ‘Blue Chip NFTs 101,’ we’re taking a dive into non-Ethereum chain NFTs; we’ll be working our way through top 10 blockchains and their biggest NFT projects, all while still highlighting major noteworthy projects that are on Ethereum. In our first piece in the series, we covered the remarkable rise of ‘Moonbirds,’ the latest NFT project that has seemingly skyrocketed to blue chip status practically overnight. Let’s take a look at The Fundamentals: Solana’s NFT Status Solana has had it’s fair share of critics in recent years – the chain has had periods of intermittent downtime, and it is often criticized as carrying more centralized qualities relative to comparable and competing chains. The objective of this write-up isn’t to evaluate the nature of the chain, but rather to hone in on one of the biggest NFT projects in the ecosystem. We’ll leave a deep dive of Solana’s blockchain structure for another day, because one thing leaves little questioning – Solana was an early mover in being an Ethereum competitor that offered an NFT ecosystem with affordable gas prices. At current standing, the hot trending topic in Solana NFTs is undoubtedly Okay Bears – a newer PFP NFT project that has gained traction as the Solana ecosystem has grown. DeGods: Current Standing DeGods have far and away the highest floor price in the Solana NFT ecosystem, consistently commanding north of 200 SOL while routinely maintaining a top 5 position in daily volume. The 10,000 mint project has a market cap that encompasses nearly 20% of the total Solana NFT market cap, according to data from Solana NFT aggregator Hyperspace. DeGods has a bit more of a ‘legacy’ standing in the Solana ecosystem, but as with any early mover, it can be difficult to maintain the standing as challengers emerge. The biggest challenger in recent weeks has undoubtedly been Okay Bears, which have been the face of Solana on communities like NFT Twitter, and has blown away Solana volume over the past week with over $40M worth of Okay Bears being bought and sold. DeGods certainly have a higher ceiling, but having less than 10% of that volume over the same timeframe suggests that Okay Bears could be gunning for the top spot as the Solana landscape continues to grow. Solana (SOL) doesn’t have the legacy standing in NFTs that Ethereum has, but the blockchain has seemingly secured the #2 spot when it comes to NFT communities. | Source: SOL-USD on TradingView.com Related Reading | Tron Is Trading Within It’s Triangle Pattern; What Awaits The Coin Next? Recent Buzz: A Major Acquisition What is DeGods doing to cement it’s positioning as a Solana ‘blue chip’? It’s easier said than done, but the DeGods community recently made a splash and made some headlines by dishing out roughly $625,000 for a team acquisition in Ice Cube’s ‘BIG3’ basketball league. The league brings 3×3 half-court basketball with a twist, and has consistently hosted ex-NBA athletes and ex-college stars (some of which have even returned to the NBA floor after appearing for the BIG3, a la Joe Johnson). DeGods purchased 25 NFTs of the BIG3’s ‘Killer 3s’ team at $25,000 a piece, in a decision made by the NFT community’s DAO late last month. Almost equally impactful could be the moves that follow suit. Announced over the weekend was a similar move from music mogul (and well-known crypto fan) Snoop Dogg, who teamed up with PayPal co-founder Ken Howery to purchase 25 NFTs of their own, this team for the league team ‘Bivouac.’ This sponsorship model from the BIG3 is especially unique, and the league has opened up it’s own Ownership Model Twitter page, as well as a dedicated whitepaper outlining how the sponsorship model operates. Crypto and blockchain technology is running rampant through the BIG3 and DeGods can safely consider themselves ‘early.’ There’s plenty more on the horizon for DeGods as well. In a recent ‘State of the Union‘ address, the team addressed a native token (and some of the comments of skepticism around it), events, and a dedicated clip around the logic behind the DAO purchasing the BIG3 team. Little is certain in the NFT landscape, but DeGods is seemingly well-positioned to be a Solana staple with it’s current engaged community and active, aggressive approach. Related Reading | APE Takes A Beating As It Sheds 50% Of It’s Price Featured image from degods.com, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice. *The writer of this content does not own any of the NFTs mentioned in this article, nor do they hold SOL or any other Solana-based NFTs at time of publishing. This content is produced solely for educational and informational purposes.

Crypto News

Everything You Need to Know About Play-to-Earn on Algorand in 2022

The gaming industry is diverse and ever-increasing, and recent developments prove that this also applies to blockchain-powered gaming. As the latest estimates suggest, the number of crypto wallets related to gaming witnessed an astounding increase from 29,563 at the start of 2021 to a whopping 754,000 in the third quarter of 2021. With this impressive growth rate, it is no surprise that savvy crypto investors have started to focus on the next big thing in the crypto market: play to earn gaming. Axie Infinity, for example, touched an astonishing market cap of $7.8 billion, which some experts believe led to a frenzy for P2E games. Other P2E games, such as The Sandbox, saw an upsurge in activity, reaching millions of users globally. So far, most of these popular P2E titles are based on the gold standard of smart contracts, Ethereum. However, similarly to the DeFi space, users and investors alike have started to voice their concerns about Ethereum’s limitations, namely scalability and high transaction fees. To tackle these issues, P2E game developers turned their attention to Ethereum alternatives that can truly support the growth of this nascent industry. Boasting a multi-billion dollar market capitalization, Algorand ($ALGO) is undoubtedly among the most prominent Ethereum challengers in 2022. Since its launch in 2019, the ecosystem has seen plenty of migrations from both existing and new projects – including various P2E developers. Thus, without further ado, let’s take a look at everything Algorand has to offer to the P2E industry right now. Why choose Algorand over Ethereum? Algorand fans often describe the blockchain as one of the world’s most decentralized, scalable, and secure DLT infrastructures. It has a vast ecosystem of projects, including cutting-edge NFT marketplaces, some of the leading crypto tools and resources available in the market, and projects that are trending in the DeFi economy. Technologically, Algorand comes with all the Layer-1 features and capabilities that crypto enthusiasts know since Ethereum – including its smart contracts, Algorand Virtual Machine (AVM), atomic transfers, and rekeying features. Among its most stand-out features is the AVM. What AVM brings to smart contracts is that it interprets TEAL (Transaction Execution Approval Language) programs, consisting of a set of opcodes, to implement the logic of Smart Contracts and Smart Signatures. In a nutshell, it makes the process more scalable, fast and secure, less risky, low-cost, and fast. And with a block time of fewer than five seconds and a transaction fee of less than $0.0013, Algorand is currently among the most efficient Layer 1 solutions on the market. The atomic transfer features of Algorand help make complex transfers smooth and high-speed. Complemented by a nominal transaction fee, these transfers are significantly low-cost for execution. These atomic transfers are compatible with all Algorand assets and multi-party transfers, which is a substantial advantage for P2E developers and players Finally, the rekeying feature of Algorand helps solve operational bottlenecks by entrusting users with the option to change their private spending key without changing their public address. Apart from efficiency, rekeying also brings flexibility without losing continuity in the process. Algorand and P2E The Algorand ecosystem is growing, and it’s growing fast. According to official numbers, there are now more than 500 organizations worldwide leveraging the blockchain. When it comes to play-to-earn, the Algo Gaming Guild could verify north of 40 projects that are currently building on Algorand. This includes trading card games like Algo Clash, racing games including Drone Racing League, and real-time strategy games such as zCircuit and Cosmic Champs. While speaking of the utility benefits of Algorand as a platform for P2E Games, Sayan Mukherjee, the Head of Business Development of Zone, an Algorand-based P2E game, says his development team chose Algorand because of two primary reasons. First, there are speed, scalability, and low transaction costs. “The Algorand blockchain is really fast with immediate transaction finality. It enables us to give a near web2 experience to gamers globally with respect to speed,” Mukherjee says. Secondly, Mukherjee says, Algorand is carbon negative. “Zone has a massive NFT ecosystem with the AFK Elephants (afkelephants.com), which also act as P2E rewards. Building the GameFi ecosystem on Algorand solves global ESG concerns while the users have a top-notch user experience. It gives the popular gaming term “gg” a new meaning altogether – green gaming!” Earn vs. Play Even though the P2E industry is growing every single day, experts have already spotted a bottleneck that could curb the popularity of the space. While gamers usually appreciate economic rewards for their playing time, many have pointed out that contemporary P2E titles are more “earn” than “play.” In other words, they just aren’t fun to play. Unsurprisingly, the Algorand community has developed high hopes for one of its most promising upcoming P2E titles, Cosmic Champs. The project, which was already named as one of this year’s top NFT games by CoinMarketCap, and praised by the media as Algorand’s “most technically advanced game design,” is on a mission to become a contender for the top P2E release across all blockchains in 2022. Developed by the gaming studio Mad Shapes, Cosmic Champs, a universe of real-time battle arenas, is the first three-dimensional real-time P2E game to land on Algorand. The studio has significant experience developing 3D mobile games and has been involved in the creation of various successful titles prior to its venture into P2E. Additionally, unlike most P2E projects, Cosmic Champs is frictionless and immensely user-friendly – players aren’t even required to have a wallet or prior crypto-knowledge. As Matt Blanchard, a co-founder of Cosmic Champs says, “our game will be free to download and free to play. It’s important that the P2E economy has a level playing field that welcomes everybody, anywhere in the world. That’s the key to mass adoption.” Of course, despite its focus on gameplay, Cosmic Champs still offers considerable economic incentives to its player base. In fact, as a result of better gameplay mechanics, the team expects player loyalty and thus user rewards to be quite competitive, potentially surpassing the earning potential of most of its peers. To reinforce this notion, the developers have added a native token to the game’s NFT rewards, which is scheduled to launch on April 21, 2022. According to Blanchard, the utility of the $COSG token and a future DAO will not only make users feel actively involved in the governance of the game, but it will also help to further grow the Cosmic Champs game into an entire gaming metaverse. Among $COSG’s use cases are staking rewards, purchases on an NFT marketplace, minting new NFTs, and benefits for the gameplay. Additionally, Cosmic Champs also allows for fractional NFTs that help maintain high-quality character aesthetics, necessary for the game to succeed in the long run, while helping to mint a significant number of NFTs that set the ground for a thriving user base. Cosmic Champs is about to take #GameFi on Algorand to a whole new level 💥 High quality, 3D graphics 💥 P2E with their $COSG token 💥NFT Marketplace 💥Modelling for multi-games in Multiverse 💥Built to transition into a community DAO Read more in their Medium article👇 https://t.co/EC5i8sZI7K — DA̷REN.Algo (@Bmorecmore) April 4, 2022   Overall, the game is inclusive, engaging, and exciting for casual and novice participants and hardcore gamers. It is a highly democratic arena that allows anyone to play without having the Cosmic Champs NFTs. In the future, by utilizing and expanding on successful DeFi concepts like staking and earning, the project could grow exponentially – and this, of course, also foreshadows a bright future for the whole Algorand ecosystem.