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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StoneX executes its first cash-settled bitcoin (BTC/USD) swap

StoneX Markets, a subsidiary of StoneX Group Inc. (StoneX), a provider of execution, post-trade settlement, clearing, and custody services across asset classes and markets worldwide, today announced that it successfully executed and settled its first cash-settled BTC/USD swap. The counterparty to the trade was one of StoneX’s institutional FX clients, Liquidity Solutions Global, the London-based […]

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Crypto News

Unizen Grows Its CeDeFi Exchange, Adding ZCX/USDT Trading Pair Into The Mix

CeDeFi exchange platform Unizen is adding new options for holders of its utility token with the addition of the ZCX/USDT trading pair on its platform. Unizen is the operator of a smart exchange platform that’s focused on marrying centralized and decentralized exchanges, a concept known as CeDeFi. Its platform operates under customary financial regulations yet also plays nicely with modern innovations within the world of decentralized finance. Through Unizen, traders get to access the liquidity of centralized exchanges and the unique functionality of various DeFi apps, along with the best possible rates when trading different assets. Besides its advanced trading options, Unizen offers Dynamic Multi-Asset Staking functionality where users can stake their ZCX tokens in an array of liquidity pools to earn rewards in multiple kinds of crypto assets. ZCX also enables governance, with holders able to vote on various issues affecting the platform that require the community’s consensus. In addition, ZCX holders get to participate in crowdfunding on ZenX Labs, which is Unizen’s accelerator for emerging crypto projects. Given the versatility of the ZCX token it has seen big demand from Unizen’s community. There will likely be a lot of interest in the ZCX/USDT trading pair, which gives holders the ability to easily swap their tokens with Tether stablecoins. There is more to come as well, as Unizen has promised that this is the first of many new listings to emerge on its platform. Over the coming weeks and months, Unizen said plans to launch multiple new trading pairs that will provide additional options and opportunities for its users. As to what those new pairs will be, that hasn’t been revealed. However, Unizen said the forthcoming pairs will include a number of “partner projects” as well as the winners of its “Tournament of the Alt” competition. With so much to look forward too, Unizen believes its platform is all set to become the “destination of choice” for retail and institutional investors looking to explore the emerging world of CeDeFi.   Image source: Unizen

Crypto News

CoinEx CEO: Breaking Financial Shackles & Making Crypto Trading Easier

CoinEx, a crypto exchange that serves more than 3 million registered users in over 200 countries and regions, has adopted a new brand slogan — Making Crypto Trading Easier. We interviewed Mr. Haipo Yang, CoinEx’s founder and CEO, and discussed topics concerning CoinEx and the future development of the crypto industry. Q: What are the considerations behind CoinEx’s new slogan — Making Crypto Trading Easier? A: Today’s crypto market has entered a new stage in terms of technological progress, market scale, and user base. At its height, the total market cap of cryptocurrency approached $3 trillion. Meanwhile, surpassing Facebook, Bitcoin has become one of the 10 most valuable assets globally. Cryptocurrency is now an integral part of global assets, and crypto technologies are also influencing more industries and users. At the same time, many are daunted by crypto technologies. In their view, the market is reserved for geeks and professional investors only. Such a stereotype is not wholly unfounded — many trading platforms out there are indeed designed for professionals. They just keep introducing new functions and pile up all features and products without considering user capabilities, which discourages many newcomers. Picture this: An average user visits a crypto exchange to buy Bitcoin. However, swamped by derivatives like delivery contracts and European options, he has no idea how to buy Bitcoin at all. Are such platforms really designed for the general public? They think users might need this or that but ignore the most important fact that for most users, it is not that easy to complete the very first crypto trade. Decentralized crypto technologies are created to serve the public in the first place. All crypto users deserve respect —not only just the professional, but also retail investors, deserve access to the crypto industry. The dismissal of beginners and retail users goes counter to the crypto sector’s original mission, which is to break the financial monopoly. As such, we work to remove users’ misgivings about the crypto industry and break financial shackles. We want to deliver a message that crypto trading is a level playing field and that finance is by no means the privilege of certain groups of people. We will build a bridge that connects users with the crypto space. As a gateway to the crypto market, CoinEx helps users complete each crypto transaction with ease. Q: The slogan upgrade of CoinEx involves strategic adjustments in terms of branding, product and technology. Could you shed light on the future vision and strategic plans of CoinEx? A: CoinEx will “make crypto trading easier” through product, token listing, and user services. First of all, when it comes to products, we exercise restraint and never pile functions upon functions. Instead, CoinEx promises to offer sufficient and satisfying functions. Unlike many exchanges that offer an excessive number of redundant functions, CoinEx pursues “EASIER”. This does not mean that there are fewer things you can do on CoinEx. On the contrary, we aim to turn sophistication into simplicity by building products that meet real demands. In addition, we also attach great importance to token-listing. CoinMarketCap shows nearly 20,000 types of crypto assets globally. However, many of them come with great risks. As we can see today, most trading platforms suffer from either a lack of diversity or garbage assets. This is why our research team spends plenty of time screening the cryptos available in the market. To a certain extent, CoinEx saves users the trouble of risk filtering, allowing them to invest easily in assets minimizing users’ workload. Last but not least, CoinEx emphasizes user service. Here at CoinEx, we offer professional, efficient and considerate user services. When beginners are confused with crypto-related products, which is frequently the case, they can always turn to our intuitive beginner guides, all-encompassing help documents and humanitarian user support. CoinEx respects each ordinary user via first-rate services. Q: Compared with the past, many professional investors like VC firms, hedge funds, and asset managers have joined the crypto market. Will this lift up the investment threshold of the crypto space? Do retail investors still have a chance in such a market? A: Professional investors and retail investors are not in an antithesis relation. The fact that more investors have joined the industry comes as a recognition of the market and injects more liquidity into the crypto space. It is natural that an established market will attract various investors, but that does not mean there are no opportunities for retail investors. Here, we can compare the crypto market with conventional financial markets. In a conventional financial market, large investment banks are inherently centralized. A company needs to go through a complicated process before it can go public. As such, stocks can only be issued via big institutions, while primary markets are exclusive to professional investors. Retail investors, on the other hand, are kept out of this process. Such a centralized monopoly incurs expensive costs and creates a high threshold. Essentially, stock issuance offers funds to project teams and creates investment opportunities for investors. Meanwhile, intermediary players like investment banks and VC firms do not improve capital efficiency. Blockchain and crypto technologies have brought a new decentralized solution that allows retail investors to directly participate in primary markets through IDO and IEO, thereby breaking the monopoly of professional investors. Over the past few years, we have seen many new attempts in the crypto industry, covering DeFi, meme and Play-to-Earn. Many of these new categories are neither created by professional traders, nor are designed for big institutions. The crypto sector is now accessible to all, which means that every investor has the opportunity to profit from cryptos. Q: During the last two years of rapid growth, CoinEx has always prioritized user experiences and user demands. How do you put “EASIER” into practice during constant product iterations? In the future, what are your priorities for streamlining the trading experience? A: We have been focusing on mechanisms, interaction, and content-guided when upgrading CoinEx products. Users use a product to meet their intended goals. As such, “EASIER” means that we should help users meet such goals as quickly as possible. As for product mechanisms, we hope that users can meet their goals via the simplest operations. For instance, Swap, a new feature recently launched by CoinEx, helps users meet one simple goal, which is to swap one type of cryptocurrency for another. Unlike other swap products that often ask users to account for complicated terms such as slippage, market price, and limit price, CoinEx Swap is backed by a set of independently developed smart algorithms, which only requires users to enter the target cryptos and the swap amount, and everything else will be handled by CoinEx. With Swap, users benefit from fast conversions at excellent prices. Other than mechanisms, we also value interaction, which covers webpage interaction and visual guides. Instead of stacking up all the functions and information on one page, CoinEx strives for simple content that allows users to spot the function they need at the first glance. Moreover, we will keep improving our text introductions and product descriptions in content guidelines, helping all users get started with CoinEx right away through simple, intuitive expressions. During the interview, Haipo Yang also mentioned that the improvement of user experiences is a never-ending process. According to him, product development requires unremitting efforts. CoinEx insists that crypto assets should be made available to the general public. It aims to “break financial shackles” and strive for “EASIER” with user-centered design (UCD) or user-driven development (UDD) by improving its products. We have every reason to believe that driven by CoinEx’s efforts, the crypto trading sector will provide new opportunities for more retail investors.  

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What do crypto whales do to maximize their wealth even in times of volatility?

What do crypto whales do to maximize their wealth even in times of volatility?

Individuals who hold a significant amount of cryptocurrency are often referred to as crypto whales. As these users have more liquidity to spread around, they are more eager to tap into low-risk yield farming. However, those options are available to anyone with any level of crypto holdings. Crypto Whales Seek New Opportunities There is much […]

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Stablecoin Regulations Need To Allow Room for Failure, Says Crypto-Friendly SEC Commissioner Hester Peirce

U.S. Securities and Exchange Commission (SEC) official Hester Peirce says future stablecoin regulation needs to allow room for “failure” amid the collapse of Terra (LUNA) this week. While speaking at the annual Digital Monetary Institute Symposium on Thursday, Peirce predicted that stablecoin regulation could be on the horizon. “I think one place… We might see […]

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