Crypto News

What Is Play-and-Earn by BeaRex and Why It Is Revolutionary for GameFi

BeaRex has kicked off a new era for GameFi fans: the Play-and-Earn era (P&E). This approach takes into account the interests of all participants in the blockchain gaming ecosystem: those who want to play for money, as well as those who just play for fun. After all, the cheerful 2D runner was primarily created so that players could enjoy themselves in its universe, and if they can earn money from their skills and acquire resources in the process, all the better! In this article, we explain why making money in games is a revolutionary concept, what obstacles Play-to-Earn players currently face, and why BeaRex is absolutely the last word in blockchain gaming. The secret to the success of the world’s most popular games is having simple rules and the ability to play on mobile devices. BeaRex combines both of these in a game with a plot that echoes the famous Mario. The game’s main character is a bear who runs along an endless obstacle course, collects berries and other resources, and tries to escape from a dinosaur. The berries are needed to make smoothies, and what happens after the bear drinks it is really worth seeing! Depending on the ingredients, the world around him changes in the most unexpected way, and to predict the metamorphosis is quite impossible. The Main Ingredient of Success: Play-and-Earn GameFi, or monetized blockchain games, can prove to be a constant source of income for players. It has evolved into a surging technological trend over the past year, just as fresh and booming as decentralized finance (DeFi) was a couple of years ago. And this is no surprise, as GameFi combines three key ingredients — game mechanics, NFT, and DeFi — to attract millions of potential users. The GameFi phenomenon appeared at the junction of gaming and cryptocurrencies. DappRadar, which tracks blockchain industry activity, reported in November 2021 that games are responsible for about half of blockchain use cases. At the same time, about 2.5 million unique active wallets (UAW) are connected to decentralized applications (DApps) daily! The essence of Play-and-Earn boils down to the following: users receive tangible, and not purely virtual, money for developing within the game. This is a huge step forward for the entire gaming industry, since now ordinary players can reap profits by taking part in gameplay, and not just celebrity streamers. This significantly increases the number of people who want to play. And it’s precisely thanks to blockchain technology and cryptocurrencies that all this has become possible. BeaRex Eliminates the High GameFi Entry Threshold Despite the abundance of incentives to enter GameFi, there are still restraining factors. The main obstacle is the cost of entry. In order to get on board, you need to shell out hundreds, if not thousands, of dollars. It is clear that this isn’t affordable for everyone, especially considering that many of the players flocking to Play-to-Earn are from poorer countries. In fact, in some places, playing a P2E game can bring in more money than working! Many players with respectable incomes cannot afford the exorbitant start-up costs either, even if they know they’ll be able to earn back their investment in the future. Moreover, people usually want to try out a number of different games and aren’t ready to immediately slap down several thousand dollars to be able to play something once in a while that they may not even end up liking. BeaRex’s Solution: Combining Free-to-Play and Play-to-Earn Original It is precisely due to the demand for an easy and flexible way to enter GameFi that BeaRex has developed a new, more advanced version dubbed Play-and-Earn. P&E is a hybrid model that includes both Play2Earn and Free2Play capabilities. This combination allows gamers not only to earn money but also play for free while increasing their skills and having fun along the way. Players can try their hand at short tasks to earn ‘karma’ so that they can take on more profitable tasks and grow their income later. BeaRex solves the problems of GameFi participants’ two main groups: investors and players. Investors want to put money into GameFi but often don’t have the time to play. In fact, they may not be interested in gaming at all! Players have the opposite problem: they love games and want to play but often don’t have the money to buy expensive game NFTs. BeaRex offers a solution: a player who doesn’t want to play for some reason can pay an experienced player a fixed price in tokens to pass through the levels for them. Thus, the investor receives passive income, while the player can enter the game and start earning with the investor’s character without buying an expensive NFT, which they may not be able to afford. But that’s not all! BeaRex is first and foremost a universe created for the pure enjoyment of playing the game. The main philosophy of the project is that everyone should be able to play, and when players are ready to make money, they can buy NFT Bears and switch to Play-to-Earn mode. Four BeaRex Game Modes Play-for-Fun: A completely free mode in which you can train and enjoy the game on a smartphone. All game progress can be saved and used in Play-to-Earn mode later. In order to start earning, the player must buy an NFT bear. Investor Mode: This is ideal for people who want to earn money from P2E but don’t know how to play or don’t want to. With the help of the order board, you can rent your Bear out to a more experienced player who will play it to pass through levels, collect gaming resources, and earn profits, which can be split between you. Play-and-Earn: This regime is for gamers who want to play the game and pass through its levels with their own bear. Everything is simple here: all the profits of your hard labor are completely yours to keep. Order Execution Mode: This is for players that have their own bear but see the benefit of taking a more powerful animal from an investor to earn more. The greater the player’s skill, the cooler and more profitable the tasks they can take on. Animated Series and the BeaRex Metaverse BeaRex is not just a game, but also an animated series! Work on an animated series based on the game has already begun. The first episode will be released at the end of 2022, and the entire first season will be available in 2023. The series will follow the adventures of bears from the very first NFT collection, which will be sold in mid-July of this year. Owners of the bears portrayed in the cartoon will receive royalties from series rentals. BeaRex Beta Launch BeaRex has already launched a beta version in an Instagram mask. A bright and absolutely mind-blowing universe awaits you here: collect berries, prepare smoothies, and save the world from dinosaurs, while earning money along the way or just playing for fun. There is currently a special offer for all game participants on Instagram: play the game in an Insta mask and earn 500 TRIP tokens. And all players will participate in a $5,000 NFT draw. Good luck in the game!   Image: Original

Crypto News Ethereum

Ethereum To Delayed Merge?, ETH Price Plunges Below $1,700

Ethereum has broken below $1,700 since July 2021. At that time, ETH’s price was reacting to the downside due to an increase in selling pressure across the crypto market. Related Reading | TA: Ethereum Holds Key Support, Why ETH Must Clear This Hurdle This time, Ethereum seems to be reacting to poor macro-economic conditions, and a potential delay in its most important milestone in recent history: The Merge. The event that will complete ETH’s transition to a Proof-of-Stake (PoS) blockchain. At the time of writing, Ethereum (ETH) trades at $1,680 with a 6% and 8% loss in the last 24-hours and 7-days, respectively. ETH is one of the worst performers in the top 10 by market cap followed by Solana (SOL), Dogecoin (DOGE), and XRP. The Ethereum network recently saw the successful deployment of “The Merge” on its oldest testnet, Ropsten. This was celebrated by the community with many claiming a mainnet launch could be possible by August or September this year. “The Merge” implementation on Ropsten saw some difficulties, but ETH core developer Tim Beiko claimed they were addressed and “all fixed”. The Difficulty Bomb is part of the mechanism that will enable Ethereum to migrate to a PoS consensus. This mechanism will progressively increase mining difficulty and prevent these actors to support a second ETH based on Proof-of-Work (PoW). As Beiko explained, the Difficulty Bomb is already having an impact on the network: The bomb is being felt on the network, and, in true bomb fashion, it appeared quicker than predicted Block times are ~14s and the Arrow Glacier EIP (authored by yours truly) predicted “a ~0.1 second delay to block time by June 2022 and a ~0.5 second delay by July 2022. ETH core developers agreed on delaying this mechanism for at least 2 months. This will provide them with more time to work on the migration to a PoS consensus. What A Difficulty Bomb Delayed Means For Ethereum However, ETH core developers seem to disagree on what delaying the Difficulty Bomb implies for Ethereum. Ben Edgington, Lead Product Manager for Teku, an Eth2 client developed by ConsenSys, announced the following: (…) we will push back the Ethereum difficulty bomb. We say it won’t delay the Merge. I sincerely hope not. Every extra week on PoW generates close to 1 Million tonnes of CO2 emissions. Edgington believes developers should agree on a Merge mainnet target. In that way, clients and the ETH community can “prepare”. In that sense, Beiko replied that the event is still expected to take place at some point from August to November this year. He believes only a “catastrophic event” could delay “The Merge” this year. Beiko concluded the following on setting a specific date for “The Merge”: I guess my view is that having an explicit target, at this point, basically wouldn’t change the speed of output from client teams, at least on the EL (Execution Layer). We have many implicit ones (devcon, bomb) as well as intrinsic motivation. Related Reading | Bitcoin Spot To Derivatives Flow Forms Historical Bullish Pattern Despite the progress on this important ETH event, the market is already soft, and any potential signs of weakness could contribute to an increase in selling pressure.

Crypto News

Win NFTs and Prizes: A Cosmic Guide to Phemex Universe

Phemex continues to celebrate all it’s achieved so far, making it their mission to help everyone Break Through and Break Free. It is well-known that the conventional frameworks for financial services are often inefficient and unfair. As blockchain technology continues to digitize and decentralize the world, fresh opportunities for financial freedom are gradually emerging. With a successful past, Phemex now keeps a vigilant and hopeful eye on the future and the platform is no stranger to adopting nascent concepts. This time, Phemex is bringing the Phemex Universe to everyone and  is now opening its doors for crypto enthusiasts who want to become a Citizen X. With a vision to delve into different business areas: new currencies, financial tools, investing opportunities, games, NFTs, and a lot more, Phemex is looking into a freer tomorrow, where every crypto user is empowered. The recently launched Phemex Universe will allow users to receive grand prizes and potentially even win their very own NFT. Enjoy the opportunity of winning up to $15 trading bonus! Ten lucky winners will be chosen at random and be awarded their Citizen X cards as NFTs. The campaign period will start 6:00 UTC on April 8 to 6:00 UTC on May 7, 2022, while the winners will be announced on May 30. Jump into the universe Launched in 2019, Phemex is now one of the most prominent and comprehensive cryptocurrency exchanges in the world. Over the past two years, its user-base has grown exponentially as a result of its exceptional and user-friendly features. The Singapore-based platform intends to position itself as the world’s most trustworthy and efficient cryptocurrency derivatives exchange. In addition, Phemex’s user-base has grown tremendously over the past two years, thanks to its unique approach of prioritizing user-oriented features and community feedback. Currently, Phemex hosts over 2 million traders and over 200+  spot trading pairs. What makes Phemex stand out amongst other platforms is that it offers a variety of services for both newbies and experts in the crypto space. Phemex aims to provide users with the best trading experience by making transactions simple and managing risks efficiently. Learn and Win Prizes The “Phemex Universe Campaign”  aims to educate the public about the emerging industry. Here’s how to begin your journey in the universe: Visit the Phemex website Explore the four planets – BTC, ETH, SAND, and DOGE to learn how the Phemex universe works Fun minigames can earn you points that can be exchanged for trading bonuses, so play them! During the promotion period, enter your email address and sign up for Phemex. The trade bonus you earned from the minigame will be yours if you complete KYC verification during the campaign duration Your own Citizen X card can be created by uploading an image or by connecting to your social media accounts Continue by downloading and sharing your Citizen X card on social media. Winners at random will be awarded Citizen X cards as NFTs after the event has concluded. With the Phemex universe, users will not only learn more about crypto but also win rewards and prizes. This campaign is beginner-friendly and offers a quick and easy way to earn money for everyone. Terms and Conditions Qualifiers must complete the tasks on the official page in order to participate in this competition. The promotional benefits of this event are only open for new users who create an account during the event’s duration (April 8, 2022 – May. 7, 2022). On May 30, 2022, at 06:00 UTC, the NFT winners will be announced. Although trading bonuses cannot be withdrawn immediately, they can be used to initiate trades, pay fees, and cover losses. Attempting to withdraw trading bonuses straight from your trading accounts will result in the loss of any remaining bonuses. Profits earned from trading the bonus, on the other hand, can be withdrawn. Each email address is only eligible for one bonus claim. Your bonus will be calculated based on your score. Please keep in mind that in order to receive your bonus, you must register your Phemex account using the email address you provided. India, Venezuela, Indonesia, Bangladesh, Pakistan, Philippines, and Vietnam users are not eligible to participate in or get bonuses from the event. KYC verification is required before a user may claim prizes. Participants may only use one account to participate. Every account that shares the same IP address or UID will be instantly removed from consideration. The following activities will immediately disqualify you: Profits via market manipulation, self-dealing, or wash trades. Only main-accounts are allowed, sub-accounts will not be counted. These rules are subject to change at Phemex’s sole discretion. For more information on terms and conditions, visit the Phemex Universe Campaign Announcement.

Crypto News

Polygon’s QuickSwap Considers Token Split, Why It Could Be Bullish For QUICK

On a positive trajectory over the last 24 hours and moving along with the general sentiment in the market, Polygon decentralize exchange (DEX) QuickSwap could boost its fundamentals. According to a recent announcement, the project could split its native governance token QUICK. Related Reading | Polygon Token Price Analysis – New All-Time High This Week For MATIC? Dubbed the “most important governance discussion to date” on the platform’s official social media channel, a fierce debate has taken place between Polygon users. This process is critical, and could precede a voting on the token split, depending on its result. The main argument behind the proposal is supported by the potential expansion of the Polygon token, QUICK, supply. The project is currently planning changes on its tokenomics. A change in QUICK’s supply stands as the first and one of the most important. If approve, the community will vote on possibly splitting the Polygon token on a 1:100 or 1:1,000 relation. The team behind QuickSwap clarified the following: This would mean that for every 1 QUICK you now hold, you would hold 100 QUICK or 1000 QUICK after the split. QUICK’s maximum supply would increase from 1 million to 100 million or 1 billion. The split would attempt to “open up” QuickSwap to new users, particularly those with intention to invest but that consider QUICK “too expensive” or with “small chances” of future appreciation. The proposal has managed to secure support from a portion of QUICK holders, others remain skeptical. 5/ One concern is that the split could be deemed a taxable event💸 💰We know how much dragons value their treasure & wouldn't want you to part with yours 🪙We aren't tax experts & can't give tax advice, but stock splits aren't taxable events & token splits shouldn't be either — QuickSwap (@QuickswapDEX) March 5, 2022 QuickSwap’s Co-Founder Roc Zacharias commented the following on the potential implications of the token split on the DEX ecosystem, and its capacity to improve the platform’s components, such as its treasury: If this split DOES work out like we think it might, it could strengthen the treasury (which is owned by all of you the community, it could increase reward value which can increase liquidity and indirectly volume etc, and most importantly, it can bring new users! Please think hard about this. Polygon QuickSwap Token Split And The Polkadot Case Many users, including the team behind the Polygon decentralize exchange platform, have compared this potential token split with the stock market. In the legacy financial system is “common” for companies to issue more stocks via a similar process addressing a concept called Unit Bias. This idea indicates, as explained by the team behind QuickSwap, that an investors might be willing to own “more of a less scarce asset”. In the crypto industry, other projects have conducted token splits in the past often leading to price appreciation. The team behind token swap mentioned Polkadot (DOT), as an example. Via their official Twitter handle, QuickSwap said: (…) when Polkadot did a 1:100 redenomination, $DOT rose from a sub-100 market cap to the 7 position. More recently, Gains Network did a 1:1000 token split & migrated from GFARM2 to GNS. In dismal conditions, GNS did a 6x. Remains to be seen if history will repeat itself with QUICK. However, Polygon, and second layer solution on Ethereum, seem to be attracting a lot of attention as they provide users with a cost efficient and more scalable gateway into the DeFi sector. Today, https://t.co/Y7yxw3SzE7 published a piece analyzing $QUICK's price💰 Wallet Investor suggested that QUICK could be worth $7.95 at year end That's eerily close to the $7.67 I calculated by averaging #DEX tokens If QUICK did a 1:1000 token split & rose to $7.67, WWYD? — 🤗 NrdGrl007 🤗 🐇 🕳 (@nrdgrl007) March 7, 2022 Related Reading | TA: Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level At the time of writing, Polygon (MATIC) trades at $1.43 with a 1.7% profit in the last day.