Terra LUNA and Terra USD (UST) crash caused massive losses for investors globally. The crash prompted reactions from regulators globally, and in South Korea, regulators […]
Animoca Brands, the company advancing digital property rights for gaming and the metaverse, and its subsidiary The Sandbox, a leading decentralized virtual world, today announced the listing of SAND on Coincheck, the largest crypto trading exchange in Japan. Coincheck users can now access SAND on Coincheck in the markets of SAND/JPY and SAND/BTC. SAND is […]
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Widely followed crypto strategist Michaël van de Poppe is calling rallies for a trio of altcoins, including decentralized oracle platform Chainlink (LINK) and virtual reality platform Decentraland (MANA). Van de Poppe tells his 604,200 Twitter followers Chainlink is potentially setting up for a bounce after losing over 86% of its value from its all-time high […]
The price of Bitcoin hit its lowest since 2020 on 12th May 2022 and crashed to $26000. This major crypto crash has hit Metaverse coins […]
The Metaverse is now a million-dollar investment opportunity, which offers various investment options in different forms of assets like cryptos, stocks, NFTs, metaverse land, ETFs, […]
South Korean officials plan to question representatives from the country’s five largest crypto exchanges about the recent Terra (LUNA) collapse. According to a new report from local news outlet Newspim, Korea’s ruling party will hold an emergency meeting with representatives from Upbit, Bithumb, Coinone, Korbit and Gopax to discuss the ramifications of LUNA’s $40 billion implosion. […]
The post Korean Authorities To Interrogate Crypto Exchanges About TerraUSD (UST) Collapse: Report appeared first on The Daily Hodl.
A popular crypto analyst is weighing in on a pair of altcoins as the markets try to navigate out of a rocky month of trading. In a new strategy session, Coin Bureau host Guy tells his 2.05 million YouTube subscribers that he still anticipates cross-chain decentralized finance (DeFi) lending protocol Kava will grow, noting that […]
Earlier this year, Polkadot, the interoperability-focused blockchain network, launched the Polkadot Pioneers Prize to attract new talent and accelerate the advancement of zero-knowledge (ZK) technology and the overall Polkadot infrastructure. Through the Polkadot Pioneers Prize, Polkadot’s plug-and-play privacy protocol Manta Network has joined 22 other ZK companies, funds, and foundations to launch ZPrize – an […]
The gaming industry is pegged to hit the $200 billion mark by 2024 and is constantly outperforming expectations. Play-to-Earn (P2E) is trending in GameFi, besides being a significant catalyst for crypto adoption. According to Triple-A, the total revenue from blockchain gaming has risen from $321 million in 2020 to $1.5 billion in 2021. Blockchain-based games have attracted 1.22 million unique active wallets (UAW) in Q1 2022. Popular titles like Axie Infinity and Decentraland accounted for 22,000 of those. The promise of decentralized ownership, inclusive decision-making procedures, and attractive financial incentives are the primary factors drawing gamers to P2E. GameFi’s success has been a massive push for crypto and blockchain’s acceptance and legitimacy, propelling adoption. GameFi — Gaming That Pays for Real GameFi combines gaming and finance, as the name suggests. It is the financialization of video games using blockchain-based methods to let users monetize their gaming experiences. Play-to-Earn (P2E) is a primary feature of this model. Traditional games have centralized business models where producers retain the maximum profit share, whereas in-game assets aren’t interoperable. Gamers thus have little or no way to monetize grinding or in-game achievements. Moreover, gaming studios have the final say over the game’s development trajectory, the supply of in-game assets, and their use cases. On the other hand, P2E games adopt the principle of decentralization, letting gamers receive crypto-based rewards for achieving in-game goals. Gamers also retain their in-game items—like avatars, modifications, weapons, pets, and land—in non-fungible tokens (NFTs). GameFi thus ensures genuine ownership of in-game assets while making them interoperable and tradable in secondary markets. Crypto Community’s Response to GameFi Projects There is a growing recognition that GameFi boosts engagement in the entertainment sector by integrating gaming and financial processes as giants like Epic Games and Ubisoft are diversifying their ventures to develop blockchain games that support crypto and blockchain-based assets. Games like Fights of the Ages (FOTA) are on a quest to provide more immersive blockchain gaming experiences. FOTA is a AAA multiplayer online battle game with a fantasy universe inhabited by various races. The game utilizes NFTs to allow digital property ownership and let users own valuable assets, collectable through the gameplay. The in-game economy enables players to earn by competing in tournaments and races. FOTA’s metaverse integrates Microsoft Mesh, the world’s first platform supporting Mixed Reality (MR). This provides players with a highly immersive experience, blurring the virtual and real worlds. Final Thoughts GameFi creates an environment where gamers can use their skills to earn crypto while playing. This provides an incentive for gamers and educates them on the benefits of using cryptocurrencies. Gamers also benefit from faster and more secure crypto transactions. This makes gaming a more enjoyable experience since players no longer worry about waiting long durations for their payments. Though blockchain games are still in the nascent stages of development, they are positioned to compete with traditional pay-to-play and free-to-play games while disrupting the gaming sector. The economic incentives they carry will push the adoption of cryptocurrencies, blockchain, and digital assets forward.
Andreessen Horowitz (A16z) is launching a new fund that will exclusively invest in the gaming and metaverse industries. The new $600 million fund is comprised of a pool of dedicated cash and a new internal structure aimed at locating acquisitions inside the gaming vertical. The fund, which aspires to establish the future of the gaming […]
Crypto regulations have posed a challenge for several governments as they struggle to balance the need for consumer protection and encouraging innovation in the promising industry. Statements from a top official at the International Organization of Securities Commissions (IOSCO) reveal that the concerns around the nascent market have risen to the level of global importance. […]
What a peculiar combination: bitcoin and pizza. Nonetheless, an entire day has been designated for each of these occasions. All of this is done in recognition of the innovations that crypto has brought to the world. Since their creation, cryptocurrencies have dominated the global virtual currency landscape, and now everyone is mining this coin or […]
From digital tokens to play-to-earn games, blockchain technology has disrupted several industries. Today, it is entering the education sector. From cross-border payments to synthetic assets, distributed blockchain ledgers and their tokenization utilities have created powerful financial products that are globally accessible. While blockchain is democratizing finance, its usability doesn’t have to be limited to cryptocurrencies. Another industry that carries equal weightage as finance and needs an immediate restructuring is education. The current system doesn’t cater to all students equitably. Some have more access to higher-level education, while others struggle to get the bare minimum, which was primarily observed during the pandemic. So to make sure such disparity never occurs again and all learners have access to top-notch education, there has to be a solution fundamentally changing the education system from the inside out, and many believe blockchain technology powering the metaverse is the way to go. Blockchains Can Make Structural Changes to Education The distributed ledger technology can significantly impact how teachers and students interact and how academic documentation is done. Educators can program lessons and curriculums onto a blockchain by leveraging smart contracts. Furthermore, smart contracts can distribute academic credits to students upon completing all course modules. Aside from automation, blockchains excel at rights management and privacy protection. As a result, researchers attempting to publish their papers can retain full ownership of their work while avoiding traditional publication procedures. For educational institutions, blockchains reduce the burden of file storage and document verification. Currently, most institutions use centralized cloud servers to store student data, making them vulnerable to single-point failures. To overcome this, institutions need decentralized file storage systems. They ensure data is secure and that no third party can alter student records. Moreover, it costs considerably less compared to cloud storage. Education Meets Metaverse For Immersive Learning Experiences While blockchains vastly improve the efficiency and security of business and academic processes within education systems, it alone doesn’t address the main problem: student engagement. Since the pandemic, the new normal for students has been online learning. Although online tools have made education more accessible, they still lack the ability to provide immersive learning experiences. This is where metaverses step up to the plate. Blockchain-powered metaverses can transform online learning environments into virtual spaces with enhanced social interaction and gamified learning techniques. While education in the metaverse is a fairly new concept, there are projects like Edverse making headway. Edverse is creating the most immersive and insightful education metaverse on blockchain by bringing teachers, learners, promoters, creators, and institutions together. Edverse also values gamified learning. They are introducing tokens and NFTs to incentivize all stakeholders for their contribution and participation. Similar to play-to-earn, Edverse incorporates learn-to-earn and wear-to-earn incentive models. Educators can transform their learning modules into NFTs and sell/rent them on an open marketplace. And when learners complete these modules, they earn experience points which can be redeemed for $EDV tokens. Edverse is also suited for educational institutions or promoters. They can buy, create, and rent co-learning spaces to launch new custom courses and advertise on a global stage. In addition to gamification, Edverse is raising the bar for global learning standards. It covers learning journeys from Kindergarten to Class 12, with a focus on skill empowerment, physical strengthening, and ancient sciences. New Education Revolution Around the Corner? Education is one of the largest industries in the world that is untapped technology-wise. Many online platforms and tools are improving the medium of learning at scale, but the experience remains old-school. The use of blockchains can structurally change the way education is available to students and eliminate the issues in academic documentation and evaluation. Metaverses with blockchain solutions and advancements in VR/AR are needed to make that next jump in the digital-first world for the education sector. With increasing awareness and widespread acceptance, it is not too far stretched to see institutions and learners adopt blockchain in some capacity in the near future.
CKarma is a recently launched NFT-based play-and-earn game that enables players to collect NFTs, utilize them in battle, and even trade them for money. To participate, players first need to purchase an NFT card on CKarma’s virtual platform. Each NFT presents a mutant animal, which the gamer uses to battle in the land of Zaios. […]
The crypto staking industry is worth over $18 billion and is projected to be worth over $40 billion in 2025 by JP Morgan, following Ethereum’s […]