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Gaming industry to have a 'blockchain-connected' future, studio execs say
“We believe strongly that there will be some element of play-to-earn or play-and-earn in most games within the next few years,” said WAX executive Michael Rubinelli.
With blockchain slowly finding its way into the video gaming industry, sector veterans and executives of nonfungible token (NFT) blockchain WAX believe that there will be more connections between games and blockchain networks in the future.
In a Cointelegraph interview, WAX head of publishing David Kim and WAX Studios head of game studios Michael Rubinelli shared their insights on NFTs, the metaverse and blockchain gaming.
According to Kim, despite having less search interest on Google, engagement with games, the metaverse and NFTs is not dead. “On the WAX blockchain, we saw a doubling of the number of sales transactions at the start of Q4 2021, and it has remained elevated ever since,” he said.
“I’m not sure if the "hype" will go back up, but we believe that long term, interest in and engagement with metaverses and NFTs will grow ad infinitum as utility increases and security concerns are allayed.” Read More
Blockchain forensics firm finds millions in sanctioned crypto wallet
Elliptic has discovered a dubious crypto wallet with “significant crypto-asset holdings” in the millions of dollars.
Blockchain security and forensics firm Elliptic has been working with authorities to expose crypto wallets affiliated with sanctioned individuals or organizations.
The United Kingdom-based company has discovered a wallet with “significant crypto-asset holdings” in the millions of dollars that may be linked to sanctioned Russian officials and oligarchs.
Speaking to Bloomberg on Monday, Elliptic co-founder Tom Robinson said that crypto could be used for sanctions evasion. However, it has been widely reported and is now generally accepted that Russia is very unlikely to pivot to crypto-assets to circumvent the sanctions.
The report did not specify the exact value of the crypto in the wallet it discovered or the nature of the assets it held. Robinson added that the scale of the use of crypto is in question, explaining:
“It’s not proving out realistic that oligarchs can completely bypass sanctions by moving all their wealth into crypto. Crypto is highly traceable. Crypto can and will be used for sanctions evasion, but it’s not the silver bullet.” Read More
Why LimeWire Chose Algorand For Its Comeback
Popular peer-to-peer file sharing service LimeWire will make a comeback on the blockchain. Per a press release, the platform will relaunch as a non-fungible token (NFT) marketplace running on Algorand.
LimeWire has selected this network, the release claims, due to Algorand’s alleged energy consumption levels which make them the blockchain “of choice for energy-efficient NFT marketplaces”. The network will provide a scalable platform with low-cost transactions, and an Ethereum-Polygon bridge.
As LimeWire previously reported, the platform will support its marketplace with its own native token called LMWR. In addition to the capacity to transact with LimeWire NFTs, users will allegedly have access to “exclusive community”, voting rights, and access to a reward system.
The platform will let content creators, initially musicians, to launch digital assets so fans can buy, sell, and trade them without the “technical hurdles” of alternatives. In that way, LimeWire attempts to onboard users by offering them a unique experience, and access to unique items, from their favorite artists.
The press release claims:
Music fans and collectors will be able to buy and trade a variety of music-related assets, such as limited editions, pre-release music, unreleased demos, graphical artwork, exclusive live versions, as well as digital merchandise and backstage content. Read More
Melos Studio Set To Pilot Its Web 3.0 Content Discovery Mechanism
Melos Studio, a music NFT creation platform, plans to launch a web 3.0 content discovery mechanism this year. The platform aims to design this discovery mechanism based on the web 3.0 content recommendation algorithm and apply it to the entire platform’s music NFT. The web 3.0 content discovery mechanism can help add value to the community by assisting creators in creating high-quality music content and making it easier for fans to access works of their choice, thereby benefiting music creators, users and future bands on Melos Studio.
It’s worth noting that Melos Studios has over 800,000 registered users and 116,000 Twitter followers as a result of its active participation in various activities. One of Melos’s distinguishing features is its user interface, which makes it simple for users to enjoy the music content.
According to a global NFT market study, the total market value of NFTs in 2021 was around $31.4 billion, while the Melos Studio had a monthly trading volume of over $2.7 million for music NFTs in January 2022. It is also worth noting that the Melos marketplace is ranked among the top 10 NFT trading platforms on the Binance Smart Chain and is ranked among the top five in the DAppRadar BSC marketplace. The growing web 3.0 industry’s primary channel for content creation is NFT, and Melos intends to use those NFTs to deliver high-quality music content. Read More
Innovations that will change the way we work and interact online.
The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed, free speech platforms are partisan to the left or right and deal with de-platforming and boycotts from payment providers.
It’s widely notorious that the actions of the tech giants have divided nations and are the source of countless societal harms, including rampant censorship, promoting violent extremism, spreading false information, and unfairly stamping out its competition.
Markethive Goes Next Level:
Known for its evolutionary and innovative ethos, Markethive continues to expand its decentralized “all-in-one” platform with the development of a unique news feed interface that completely embodies the user experience (UX) in the framework of “don’t make me think.” A concept brought to light by author Steve Krug, a usability expert, cites that usability is fundamentally about human psychology. Read More
Ethereum ‘Merge’ edging closer with final Kiln testnet launch
The Kiln testnet is the final public testing phase before the long-awaited Ethereum ‘Merge’ and the end of proof-of-work consensus.
The much-anticipated ‘Merge’ on the Ethereum network is another step closer to becoming a reality after the final public testnet Kiln launched to put it through its paces.
On Monday, the Ethereum Foundation urged network stakeholders to run tests using Kiln “to ensure a smooth transition on existing public testnets.”
“We strongly recommend that developers run through a full testing & deployment cycle on Kiln and report any issues with tools or dependencies to those projects’ maintainers.”
Ethereum developer Tim Beiko confirmed that Kiln has gone live and will soon be ready to merge with the Beacon Chain in a Monday tweet. The testnet launched late last week in proof-of-work (PoW) mode only. Read More
Samsung, Qualcomm Back FreedomFi, Helium’s 5G Crypto Network Partner
FreedomFi raises $9.5 million to scale its decentralized network with Helium and trim the price of 5G gateway hardware.
FreedomFi, which makes firmware and hardware to power Helium’s new token-powered 5G network, just raised $9.5 million.
Samsung and Qualcomm are among the firms that backed FreedomFi via their respective venture arms.
Helium’s bet on building a decentralized wireless network to power Internet of Things (IoT) devices appears to be paying off, with over 640,000 active nodes earning tokens around the world. Now the project is expanding into 5G connectivity—and its partner FreedomFi has just added allies like tech giants Samsung and Qualcomm in a new funding round.
FreedomFi announced today that it's raised $9.5 million in Series A round to continue building its decentralized 5G network alongside Helium. Samsung’s Next venture arm participated in the round, alongside Qualcomm Ventures and Blueyard Capital.
FreedomFi provides the firmware and small-cell hardware that power Helium’s newer 5G network, enabling individual node operators to tap into the decentralized network and earn HNT tokens for providing service to a nearby smartphone, laptop, and tablet users.
It’s a big step up from Helium’s original network, which uses low-power nodes that collectively create a distributed network for things like sensors and trackers. Helium and FreedomFi’s 5G network will have to handle significantly more data from smart devices, and the hardware needed to join the network is likewise much more expensive. Read More
Ethereum Merge testing on Kiln mostly successful, save for one minor bug
“Post-merge blocks are being produced by validators, and they contain transactions!” said Ethereum developer Tim Beiko.
On Tuesday, Ethereum developer Tim Beiko tweeted that Kiln successfully passed the Ethereum Merge, with validators producing post-merge blocks containing transactions. Kiln will be the last Merge testnet — formerly Ethereum 2.0 — before existing public testnets are upgraded. “Merge” involves taking Ethereum‘s Execution Layer from the existing proof-of-work (PoW) layer and merging it with the Consensus Layer from the Beacon chain, turning the blockchain into a proof-of-stake (PoS) network. The Foundation writes:
“This merge signals the culmination of six years of research and development in Ethereum and will result in a more secure network, predictable block times, and a 99.98%+ reduction in power use when it is released on mainnet later in 2022.”
However, it appears not everything went according to plan during testing. According to Kiln Explorer, there were several errors relating to contract creation. In a follow-up tweet, Beiko said a client was not producing blocks consistently, though “the network is stable, with >2/3rd of validators correctly finalizing.” A fellow Ethereum developer, Marius Van Der Wijden, commented on the matter as well, pointing out that Prysm was proposing bad blocks during the transition on Kiln. Read More
New application merges DeFi 2.0 protocols with yield optimization on Polygon
As DeFi users switch between platforms for higher returns, 2.0 protocols are becoming more crucial for lasting value.
Decentralized finance (DeFi) first took the world by storm in 2020. Now, two years later, the world has grown to know several successful DeFi projects. Despite these successes, like any new field, several problems have also arisen.
Consider Bitcoin (BTC), which introduced the world to cryptocurrencies and blockchain but could only be used for payments, and its successor, Ethereum, which opened the world to additional technology use cases. Similarly, as DeFi 1.0 brought about earning opportunities and liquidity concerns with users switching between platforms to pursue better rewards, 2.0 protocols are looking to build stable value with more advanced concepts.
Helping to usher in this era is LeoFinance, a team that has been building and managing applications over the past three years. Its collection includes social apps such as LeoFinance and LeoMobile (for iOS and Android), both of which exist as the backbone for the team’s larger goals. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
