The whales (devs and management) were selling their bags gradually over the last few weeks and it had come to the point that the price per coin was getting to be pretty much worthless like 0.0000001 – so they came up with a greasy scammy brilliant new twist. They are going to do basically a…
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Northern Data believes the acquisition will position it as a leading mining firm globally.
In recent times, those in the DeFi and metaverse space have encountered yet another way in which ordinary people can earn considerable amounts of money on the blockchain. Coming in the form of play-to-earn communities, platforms such as Yield Guild Games (YGG) and UniX are early adopters of ecosystems that provide gamers in developing countries with these financial opportunities. Such business models, in theory, could utilize leisure as a way to help reduce unemployment around the world. Although the idea of the play-to-earn model is still in its infancy, it is an idea that is turning heads. “PLAY-TO-EARN | NFT Gaming In The Philippines” is the title of an 18-minute documentary funded by YGG and created by Emfarsis Consulting about a group of people in the Philippines, a country that suffered unemployment as high as 40% during the pandemic. People in the Philippines had been playing Axie Infinity (a blockchain-based game that rewards its players) during the pandemic, discovering that they could earn two or three times the minimum wage by playing. It is apparent that this new “Leisure Economy” could be the dawn of something huge. However, if you are considering joining a play-to-earn gaming guild, don’t let FOMO lead you down the path of making a decision too quickly. New investors in crypto, for instance, have a tendency to jump on the bandwagon of whatever is trending, without doing their own research. Let’s not forget the number of disappointed DOGE holders who filled their pockets with the popular token prior to Elon Musk’s SNL appearance, anticipating a surge in price, only for Musk’s remarks to send the value of the cryptocurrency down rather than up. Evidently, when investing time or money in anything, it’s better to weigh up your options beforehand. So what exactly are YGG and UniX offering players, and how do they differ? Scholarships & Revenue As the price of the NFT pets known as Axies needed to play the game has significantly increased, a profit-sharing model known as scholarships are issued to bring willing new players on board without them having to pay large amounts. UniX and YGG sell or lease their Axies to these new players, known as scholars, providing them with recruitment, coaching and management, in exchange for a percentage of the revenue they earn in the game. Yield Guild Games currently splits the revenue of its scholars in the following breakdown – 70% to the scholar, 10% to YGG, and 20% to a Community Manager. UniX, on the other hand, takes 50% – but don’t let that fool you. Comparing 8,000 scholars from both guilds, 4,000 from YGG produced 580K revenue, whereas 4,000 UNIX scholars would make 1.44 million. Community & Governance Decentralised Autonomous Organisations (DAO) like UniX and YGG issue governance tokens in order to establish levels of voting power among holders. Holders of these tokens will determine how the platform develops. Therefore, community-conscious players may want to consider who exactly the individuals are that have the highest investment in the platform. Although Yield Guild Games ensure that each investor of their Seed and Series A rounds are carefully selected for their depth of understanding of the play-to-earn model’s potential, they are largely composed of venture capitalist firms. Also, in terms of community size, while YGG’s Discord is approaching 60,000, UniX recently surpassed 130K. UniX’s Charity & Educational Programme UniX’s Scholar and Education programme has currently onboarded 1,000 people, giving them access to some of the best teachers from their native country. These teachers don’t only work with UniX Scholars, but also with their 100,000+ community. This free education programme intends to identify and place talented individuals in jobs in blockchain and companies that UniX already has partnerships with. Regular creative and research competitions are run throughout the community in order to scout talent while rewarding members with tokens and points that will later equate to either a scholarship or employment. Furthermore, through the UniX Foundation Fund, access to the education programme will be available to everyone and not just scholarship holders. As the originator of the concept of playing to earn in developing countries, Yield Guild Games is a tempting prospect for newcomers to the metaverse’s leisure economy. However, with UniX’s own native play-to-earn game, Unity, currently, in the works, it will be interesting to see how much more the NFT and the play-to-earn market will shift in their favour going forward. However, one thing we do know is that it is good to shop around.
Amongst the madness in broader crypto, along with Cardano’s substantial volatility, the Alonzo hard fork update for ADA has sought to provide a solution to maintaining its powerhouse status, and continue to dominate the year. This solution, though, has some twists and turns that leave the bulls hopeful and patient. ADA And The Push To The Top Cardano has had an amazing run this year with the new wave of crypto bulls ready to see what ADA will become. Dubbed the “Ethereum killer,” Cardano and it’s founder Charles Hoskinson seem confident that his team will and project will dominate to become the top dog. With Hoskinson’s recent comments that the DeFi space in Cardano’s ecosystem is currently ‘up for grabs,’ smart contracts with Cardano have finally arrived. He also noted that DeFi is now seeing a second wave, and the winners of this move will feature both interoperability and liquidity, as well as the ability to move multi-chain, all with an easily predictable cost. “The way we constructed Cardano was for that second wave” – Charles Hoskinson The founder of Cardano has been one of the main individuals in crypto to express the need for more regulation, governance and much more throughout crypto, and he also understands decentralization is a major necessity. These reasons play a part in why Hoskinson and his team worked on designing Cardano, allowing it to fit and work perfectly with the second wave of DeFi. With the Alonzo hard fork successfully launching, it made a new wave and push for anyone to add smart contracts to the blockchain with ease. How will this impact ADA? Related Reading | Cardano Trends Down As ADA Is In Deep Danger ADA: Currently trading at about $2.213 after big jump to $3.00. Source: ADA-USD on TradingView.com 200 Smart Contracts We Will Have To Wait To See ADA has about 2,300 smart contracts loaded up and ready to go, but within that gang of contracts more than 200 of those won’t see the light of day just yet, according to Cointelegraph. Cardano has some game-changing contracts that remain time locked and unavailable to the public, and many of these very notable projects are not yet ready for the world. However, changing landscapes could come in to play that will change that. One of frozen few is GREED, a rewards token that is redistributing ADA back to holders and providing a new way to distribute and stream both live and recorded music. This list also includes SingularityNET and Cardax – two notable projects with a lot eyes waiting to see what’s next as time progress. As things unfold and more countries address much-needed regulations to crypto currency, all we can do is sit and see whats next for these projects as we wait to find out who will join the list or make a debut.
DeFi farmers are claiming to have made hundreds of thousands of dollars by gaming dYdX ‘s recent airdrop.
Jamie Dimon, the CEO of one of the biggest financial institutions of the world, JPMorgan, has once again let the world know about his stance on bitcoin and cryptocurrencies. Dimon stated that whoever borrowed money to purchase bitcoin was, in his opinion, a “fool.” However, his personal opinion has not clashed with the fact that […]
The SEC asserts that the defendants unlawfully gleaned more than $700,000 through a wash-trading scheme that targeted exchanges offering market maker rebates.
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The tweet from DeversiFi reads: "The blockchain is immutable. But the revolution we are part of is defined by our values as humans." "Thank you to the miner of block 13307440 who we can confirm is returning 7626 ETH that were incorrectly paid today as a tx fee. A post mortem will follow tomorrow." I…
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