Play-to-earn
Finance Redefined: Axie Infinity creator raises $150M, DApp daily users surge to 2.4M and more
The decentralized finance (DeFi) world saw another week of increased on-chain and developer activity even when the overall market cap took a slight dip amid overall market retrace. The creators of the popular play-to-earn nonfungible token (NFT) game Axie Infinity raised $150 million to reimburse hack victims of the Ronin bridge exploit. The decantralized application, o daily user count surged to 2.4 million in the first quarter of 2022, while SushiSwap (SUSHI) and Synthetix (SNX) were booted out of Grayscale’s popular Decentralized Finance Fund. The widely-popular DeFi protocol Yearn.finance announced its support for the newly-passed ERC-4626 tokenized vault standard. The price momentum of the majority of DeFi tokens remained in red over the past week, as the overall crypto market registe...
Yield Guild Games Hits 20K Axie Infinity P2E Scholarship Milestone
The popular gaming guild YGG has reached a milestone in terms of new scholars for the Axie Infinity platform and various other play-to-earn games. Yield Guild Games reported 20,700 unique Axie Infinity scholars in February, an increase of 8,500% since the same month last year when there were just 241. The milestone marks a “new record in the play-to-earn space” said YGG in an announcement shared with Cointelegraph. The play-to-earn scholarships allow new players to borrow a team of Axie NFTs from the Guild. Their in-game earnings are then split between the player, the community manager, and the YGG DAO. YGG reported that in February, scholars farmed more than 26.4 million SLP, the native token for Axie Infinity. This figure represents a 57% increase from January’s farming figures. It added...
The Sandbox Metaverse hits 2M users, begins K-Pop partnership
The Sandbox metaverse game owned by NFT investment giant Animoca Brands has surpassed 2 million registered users amid its play-to-earn season 2 alpha launch. The crypto game backed by NFTs and its native SAND token has been in the works for roughly four years, and the latest preview into the game comes just a couple of months after its long-awaited season 1 alpha launch in late November. Season 2 officially went live earlier today and any user is able to freely explore 35 different virtual experiences including a sneak peek of the “Snoopverse” in partnership with popular rapper and new-found NFT proponent Snoop Dogg. There are 200 quests that players can complete to earn a chance of getting an Alpha Pass NFT, which will reward the owners up to 1,000 SAND worth roughly $3,000 at current pri...
FTX.US job posting reveals blockchain gaming unit in the works
FTX.US, the American arm of the global crypto derivative and spot exchange FTX, seems to be launching a new blockchain gaming unit. As per a job posting by the crypto exchange, the firm is looking for software developers for its upcoming blockchain and gaming unit. The new gaming unit will be focused on bringing more gaming developers to the blockchain-based gaming ecosystem that incentivizes players via crypto tokens and nonfungible tokens (NFTs). The job posting revealed that the exchange is looking for software engineers with a robust knowledge of the C# programming language and the Unity gaming engine. FTX didn’t respond to Cointelegraph’s requests for comments at the time of publishing. Reportedly, the new platform would be catered as “crypto-as-a-service” that would...
Here’s why AI-equipped NFTs could be the real gateway to the Metaverse
Nonfungible tokens (NFTs) have been largely acquired as proof-of-profile pictures (PFPs) that represent a brand, embody culture or ultimately, reflect as a static status symbol. Blue-chip NFTs like the Bored Ape Yacht Club or Cool Cats were not originally backed by any tangible utility other than speculative value and hype, along with the promise of an illustrative roadmap, but in 2022, investors are looking for a little bit “more.” However, nonfungible tokens are finding their use beyond branding and status symbols by attempting to build out an existence in the Metaverse and some are ambitious enough to start within it. The Altered State Machine (ASM) Artificial Intelligence Football Association (AIFA) has introduced a novel concept to NFTs called nonfungible intelligence or NFI. By...
Yield Guild Games Raises $1.45M for Philippine Typhoon Relief
Yield Guild Games (YGG) has raised $1.45 million to support people affected by December 16’s Typhoon Odette in the Philippines, with nearly $1 million already dispersed to people in need. The funding was used to purchase essential goods like medicines, power generators, and canned food, which were turned over to the Philippine Army and Navy and non-profits to distribute among affected communities. There is still about $458,000 worth of crypto and tokens that have been donated to the relief fund but they have yet to be converted to fiat currency for deployment, according to a representative from YGG. Our Transparency Report for Typhoon #OdettePH relief efforts is up! @yieldguild raised $1.45M and has so far disbursed a total of $992K to date. Meanwhile, our direct financial assistance...
Behind the scenes of the first AAA shooter game built on the blockchain
Shrapnel is the world’s first AAA shooter game built on the blockchain, at the intersection of community, creation and ownership. The team is comprised of BAFTA and Emmy award-winning talent that has worked on blockbuster franchises such as HALO, Call of Duty, Madden, Bioshock, Destiny, Star Wars, Hawken Skylanders, Westworld and more. It is built on the blockchain gaming platform, Forte. In an exclusive ask-me-anything session with Cointelegraph Markets Pro, Don Norbury, head of studio at Neon Media, the game’s developer, offered an in-depth take on what the game has to offer. Shrapnel game banner. Source: Shrapnel Cointelegraph Markets Pro User: When I think of gaming, I think of Galaga, Pac-Man, Tomb Raider, Timesplitters. These games were fun and puzzling and con...
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