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Crypto Still In Limbo

Crypto Still In Limbo

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Crypto Still in Limbo But Investors Stay Confident in 2023

Last April, Fidelity Investments customers got the news that they will have the feature to add the digital commodity to their retirement plans through a first-of-its-kind service. At the time, Bitcoin was trading about $38,000, below 45% of its highest value.

When the company’s 401(k) plan came to light the following fall, the value of Bitcoin took a steep dive. Prices fall due to the deteriorating financial conditions and the $60 billion collapse of the digital currencies Luna and TerraUSD. Bitcoin saw another bad year as it fell down to $20,000 in November. Meanwhile, the once $32 billion-valued cryptocurrency exchange FTX got a massive hit on the jaw and reached Chapter 11 bankruptcy. It imposed a shadow over the industry as the fallout from its collapse spread like wildfire. The quick demise of the exchange would further undermine investor trust in digital assets, driving Bitcoin’s price to $15,480, its lowest level in two years.

Several U.S. senators, notably Dick Durbin and Elizabeth Warren, encouraged Fidelity to review its support for Bitcoin. The reason was that the digital assets exposed retirement funds to unjustified risk. “Any investment strategy based on catching lightning in a bottle, or motivated by the fear of missing out, is doomed to fail,” they stated in a letter. “We are already in a retirement security crisis, and it should not be made worse”.

One of many major companies that stands tall till now is Fidelity. It still claims openly that digital assets have a lot of potential. Ironically, given that Bitcoin’s aim is to eliminate financial brokers and enable people to control their own money, traditional banking titans are gradually adopting cryptocurrencies. Their entry could cause crypto to deviate from its fundamentals and weaken the characteristics that make the sector unique, like asset’s self-custody and transaction clarity.

Big Companies are Moving into Web3

Big enterprises are entering the market because they have the expertise to provide products that customers would instantly trust, including BlackRock and Fidelity.

BlackRock, the biggest investment manager in the world with $8.6 trillion in assets under administration, and Coinbase signed a collaboration agreement last August. The partnership will allow Aladdin clients to own and exchange digital assets including Bitcoin.

Nasdaq Digital Assets, the cryptocurrency initiative, came to market in September. The platform believes that its new venture would enable a greater level of institutional involvement in digital assets. It will start by providing businesses with a secure way to store cryptocurrency.

We have also BNY Mellon, the oldest bank in America, holding Bitcoin and Ethereum for its customers. Bitcoin and Ethereum are the first and second largest cryptocurrencies by market value right now. BNY Mellon has $1.8 trillion in managed assets and $42.2 trillion in assets under administration as of September 30.

Moreover, we have Wall Street giants Fidelity, Charles Schwab, and Citadel Securities founded EDXM, a crypto exchange. The facility combines cutting-edge technology with best practices from conventional banking, including an emphasis on regulatory compliance and conflict-of-interest mitigation.

These institutions have made it clear to use digital assets as a substitute for stocks/bonds when making investments. The bulk of funds that made investments in cryptocurrencies last year aimed to diversify their portfolios more by using digital assets.

Crypto’s Inclusion in Investment Portfolio is a Necessity

Some businesses are learning about blockchain technology with the goal of using it as the foundation for future mainstream market operations. In the tokenization process, BlackRock CEO Larry Fink predicts that blockchain will help generate digital assets that replicate securities such as stocks and bonds.

Last year, despite a global market collapse, cryptocurrency remained more appealing than it was before. In a poll conducted by Fidelity of more than 1,000 institutional investors, the results were interesting. It came to light that 51% had a positive opinion of digital assets in 2022 as opposed to 45% in 2021. The significant advantage of digital assets was the major attraction for institutional investors. Majority of the institutional investors are of the opinion that Digital assets do have a concrete role in investment portfolios.

Despite cryptocurrency’s severe volatile market in the year 2022, financial institutions and banks are happily involving themselves in the market. These institutions are positive and expect to drive higher trading volume. While financial firms trade tokens, retail traders are more likely to purchase and hold cryptocurrencies.

Cryptocurrencies are more transparent than conventional money. Experts have argued that ownership information is maintained on public digital ledgers. Theoretically, this also makes it simpler to follow the flow of cash among market players. However, many financial organizations are reluctant to reveal their plans in advance. Adam Struck, managing partner, and founder of Struck Capital said some people prefer to trade cryptocurrency with businesses like Galaxy Digital or Genesis to mask their tracks.

Despite the crypto winter and FTX collapse, many big names in investment firms and institutions are confident. They believe that crypto will bounce back and is here to stay.

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Crypto Still In Limbo

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DEFY Mobile Game: Metaverse Move-to-Earn Augmented Reality

DEFY is a groundbreaking mobile game that introduces a novel concept known as “move-to-earn” while merging elements from both the virtual and real worlds to create an immersive metaverse experience. Running on the Polygon blockchain, DEFY focuses on restoring digital identity and personal data ownership within the framework of the decentralized Defiance Of Society.

Players of DEFY find themselves in a world where a faceless organization called Future Systems has taken control of global networks, promising free internet access to all but at the cost of privacy and individuality. People now rely on Future Systems for basic needs, leading to dissatisfaction among some. In this scenario, players take on the role of operatives assisting a character named Kha0s, a systems administrator within Future Systems, in his mission to bring down the organization. They use a mobile app to infiltrate the network, steal a new global currency called FCOIN, and thwart Future Systems’ control.

One of the game’s unique features is the use of NFT Virtual Private Masks, allowing operatives to hide their identities from Future Systems as they navigate the digital landscape. Players must be cautious, as Future Systems deploys security measures, including drones that pursue operatives. Operatives can either outrun these drones or use an electromagnetic pulse device to disable them.

DEFY doesn’t stop at “play-to-earn” but introduces “move-to-earn” and “learn-to-earn” elements. Players engage in physical activity as they play, promoting better health, and also learn the fundamentals of coding in an enjoyable and rewarding manner.

In terms of in-game currency, DEFY employs a dual-token system. FCOIN is the in-game currency that players can earn by participating in various activities within the game. It is used to purchase and enhance NFT assets, creating a rewarding cycle within the game. Premium mask holders can transfer FCOIN to Kha0s’ bank account, where they will receive DEFY tokens based on their contributions of FCOIN. The more FCOIN they contribute, the more DEFY tokens they receive.

In summary, DEFY is an innovative mobile game that combines virtual and real-world elements, promoting physical activity and coding skills while offering a unique play-to-earn experience within a dystopian narrative where players battle against a controlling organization.

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The 7th Seal – Game Review

The 7th Seal is a tactical, turn-based, play-to-earn, multiplayer, strategy game that embarks on an epic struggle to claim the empty throne. The Seventh Seal, a labor of love, began in late November of 2020 by two software developers, who holds its inaugural land sale. Six players—three human players and three AI players—play each game. The game’s development is now at the Alpha stage. Three different gameplay options will be available: Solo (single player), Hot Seat local multiplayer, and Internet Async Multiplayer.

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Final Form: Mastering Strategic Evolution in the Interdimensional Card Battler

Ex Populus has made a significant impact in the gaming industry with the release of “Final Form,” a digital card-based auto-battler game that premiered on the Xai platform. What distinguishes Xai from other platforms is its unique “layer-3” status, designed specifically to cater to game creators operating in the Web3 space. “Final Form” offers players a distinctive gaming experience as they build new decks for each match, and their choices unfold cinematically. The game’s logic is built on Arbitrum Nova, a cutting-edge decentralized blockchain, ensuring transparency and long-term sustainability for the game. “Final Form” takes trading cards to the next level, providing peer-to-peer card mobility while adhering to high ERC standards. Importantly, it’s not just a product of Ex Populus but a collaborative effort with fans worldwide, making it a truly community-driven gaming ecosystem. In “Final Form,” players find themselves in a distant future where an enigmatic artifact called “God’s Tooth” resides on a remote alien world. This mysterious obelisk serves as a focal point, creating a quantum rift through dimensions that draws characters from various multiverses into an expansive interdimensional battleground. In this cosmic collision, only a select few can attain their ultimate, Final Form. Players engage in intense battles using limited edition cards, summoned companions, mutates, and relics to construct formidable battle decks. Gameplay in “Final Form” places a strong emphasis on skill, rewarding the most adept players who rise to dominance. A central mechanic is card evolution, powered by Chromos earned through battles, which elevates cards to Legendary Rarity. However, this evolution comes at a price, as players must sacrifice cards, introducing an element of scarcity. Victories in successive matches enhance a player’s card inventory and grant Chromos for further evolution. “Final Form” draws inspiration from Rogue-Lite and Souls-Like games, where losses carry significant consequences, requiring players to start anew while retaining their Limited Edition cards. The game’s rule-set, inspired by traditional card decks, encompasses aspects like rarity, health, attack, and abilities, ensuring adaptability for a diverse range of potential trading card games. Tokenomics play a crucial role in the “Final Form” ecosystem. Each victorious battle rewards players with Chromos, the in-game Evolution currency. Higher rarity cards grant more Chromos, adding to their value. Players can combine Chromos with lower-tier cards to evolve and enhance their card collection, further enhancing the rarity and value of their cards. This scarcity of rarities contributes to the overall value of the trading card ecosystem. The community response to “Final Form” has been overwhelmingly positive. Players have praised the game’s aesthetically appealing card designs, and excitement is running high. Additionally, there has been discussion about Xai, the Layer 3 platform developed by Offchains labs and its integration into the Arbitrum ecosystem, showing the growing interest in the blockchain technology that underpins the game. Overall, “Final Form” has made a significant impact in the gaming world, offering a unique and engaging experience to players while leveraging blockchain technology to create a thriving gaming ecosystem.

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Galaxy Survivor: 3D Metaverse P2E NFT GameFi on Avalanche

“Galaxy Survivor” is a cutting-edge 3D metaverse Play2Earn NFT GameFi, set in a futuristic sci-fi universe on the Avalanche blockchain. The game revolves around interstellar civilizations competing for supremacy in The Galactic Metaverse, using advanced technology and Galaxy (GLXY) token NFTs to build space crafts and engage in real-time strategy battles. Players can choose their allegiance among three warring galactic empires, each with unique attributes and technologies. In the game’s lore, three powerful empires, Atropos, Lachesis, and Morta, once coexisted peacefully until an event called the Apocalypse devastated their civilizations, leading to intense rivalry. Atropos turned to lethal MUN weapons, Lachesis employed artistic warships armed with LASER technology, and Morta harnessed the enigmatic Quantum Force. Players must lead their chosen faction to victory in this fractured galaxy. The gameplay offers various modes, including Single-Player (Campaign and Bounty Hunter) and Multi-Player (World Boss). Each player begins with a unique Mothership tied to their chosen Empire and can engage in strategic combat and fleet construction. The game’s three in-game modes offer a rich gaming experience. The tokenomics of Galaxy Survivor consist of a dual-token system: $GLXY and $SURV. $GLXY serves as the game’s official currency and is used in the Marketplace, Limited Box Sale, Special Events, Staking, and Farming. On the other hand, $SURV is a utility token obtainable and usable within the game’s ecosystem. Players can earn $SURV through various in-game activities, adding depth to the gameplay. Community response to the project has been highly positive, with participants praising the professionalism of the development team and the project’s potential. “Galaxy Survivor” presents a captivating blend of NFT gaming, blockchain technology, and immersive sci-fi storytelling, offering players a unique and engaging gaming experience in the metaverse.

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Best P2E Games list 2024

Crypto Still In Limbo

P2E News, short for “Play-to-Earn News,” is a category of updates and information within the broader spectrum of Crypto News, Web3 News, NFT News, and Blockchain News. These terms are all interconnected and represent various facets of the rapidly evolving digital landscape.

Play-to-Earn (P2E) is a gaming model that has gained immense popularity within the crypto and blockchain communities. In P2E games, players can earn cryptocurrencies or NFTs by participating in the game, often through activities like completing quests, collecting items, or trading assets. P2E News covers developments, announcements, and trends related to these innovative gaming experiences that allow players to monetize their in-game efforts.

Crypto News, on the other hand, focuses on the broader world of cryptocurrencies, including Bitcoin, Ethereum, and a multitude of altcoins. This category encompasses news about market trends, regulatory changes, new blockchain technologies, and updates related to various tokens. Crypto News is a fundamental aspect of the blockchain ecosystem, as cryptocurrencies serve as the primary means of value transfer and exchange within the Web3 space.

Web3 News is an umbrella term that refers to the next-generation internet, often characterized by decentralized applications, blockchain technology, and smart contracts. The Web3 ecosystem seeks to provide a more user-centric and decentralized internet experience. This category of news covers developments in decentralized finance (DeFi), non-fungible tokens (NFTs), and various other applications built on blockchain technology. For the ultimate and best play to earn games list, check our friends of playtoearngames.com.

NFT News focuses on Non-Fungible Tokens, unique digital assets that are indivisible and represent ownership of a specific item, artwork, or collectible. NFTs have gained prominence in the art world, gaming industry, and entertainment sector. NFT News keeps enthusiasts informed about NFT sales, new projects, and partnerships within the NFT space.

Blockchain News pertains to the foundational technology behind cryptocurrencies and Web3 applications. Blockchains are decentralized ledgers that record transactions across a network of computers, ensuring transparency and security. Updates in this category might include innovations in blockchain consensus mechanisms, interoperability between different blockchain networks, and industry applications beyond cryptocurrencies.

In summary, P2E News is a niche subset of Crypto News, Web3 News, NFT News, and Blockchain News. It focuses on gaming experiences where players can earn cryptocurrencies or NFTs, while the other categories encompass a broader range of topics within the decentralized digital landscape, including cryptocurrencies, web3 technologies, NFTs, and blockchain advancements. Collectively, these categories shape the landscape of the digital economy, offering insights into how technology is revolutionizing various aspects of our lives.