News
Hyperspace shuts down NFT marketplace on Solana
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2 weeks agoon
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adminHyperspace, a multi-chain non-fungible token marketplace and launchpad, is shutting down its platform on Solana.
The project announced this on Sept. 3, noting that the decision to shut down its NFT marketplace on Solana (SOL) was a difficult one. Hyperspace plans to fully sunset the Solana offering by September 17, 2024, and has advised users to delist their NFTs before this date.
In addition to removing website support for Solana NFTs, the platform will also sunset its application programming interface. This will begin on Sept. 17, as the Hyperspace team posted on X.
“While it’s a difficult decision to make, we’re proud of having been a part of this vibrant ecosystem since Solana summer first started and we’re excited for all that’s to come.”
Hyperspace Avalanche and Sui NFT marketplaces
Hyperspace launched in 2021, entering the market just as the NFT boom followed the Covid pandemic. The platform boasted backing from some of the biggest crypto venture capital firms in the industry, including Dragonfly, Pantera, and Coinbase Ventures.
Despite a slowdown in NFTs in late 2021 and 2022, Hyperspace quickly grew. Apart from Solana, the NFT marketplace is shutting down on Sui (SUI).
Are NFTs dead?
In the broader digital collectibles market, projects such as CryptoPunks, Bored Ape Yacht Club, Pudgy Penguins, and Art Blocks remain top NFTs by sales and volume.
However, the NFT market has failed to see any meaningful recovery since the broader crypto market’s slump during the 2022 bear market.
A recent report suggests that nearly 96% of NFT projects are dead, with 43% of holders currently at a loss. Declines in volume amid this collapse have impacted NFT marketplaces and aggregators, including market leaders OpenSea, Magic Eden, LooksRare, and Blur.
The bear market aside, regulatory issues are also likely to be a major factor. Recently, the U.S. Securities and Exchange Commission issued a Wells Notice to OpenSea over allegations of offering unregistered securities.
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Fractal Bitcoin: A Misleading Affinity
Web3 gaming adoption is driven by platforms like Telegram
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blockchain games
Web3 gaming adoption is driven by platforms like Telegram
Published
1 hour agoon
September 18, 2024By
adminA recent report commissioned by Elympics, a Web3 gaming protocol, highlighted how Telegram and blockchain technology have transformed the gaming world.
The research report, shared with crypto.news and based on feedback from nearly 1,000 global gamers, shows how platforms like Telegram and the rise of “compete-to-earn” games are driving the adoption of Web3 gaming.
The success of Telegram as a gaming platform was evident in the survey results, with 53.56% of players choosing it as their preferred platform for playing mobile games. This highlights Telegram’s growing influence in the gaming space and its ability to attract a large, engaged player base.
Most respondents, 78.77%, reported playing games daily, while 15.19% indicated they play a few days a week.
With the rise of competitive gaming, the report delved into the impact of blockchain games and their community-driven advances on the gaming industry.
“Our research shows that with the entry of social platforms such as Telegram into the Web3 world and the skill games growth with community-driven money competitions, we are seeing the start of mass adoption by players around worldwide. Gamers enjoy winning through competition so we build games meeting this need.”
Tom Kopera, COO of Elympics
Traditionally, games have been centralized, meaning a company controls the game’s development, design, and rules. In blockchain games, the power is more decentralized—players have more control, and they can own in-game assets that can’t be easily tampered with.
“Blockchain decentralizes the ownership, turning players into investors of time and money into their beloved games.”
Stan Fiedor, General Manager Europe of Wemix
This ownership includes everything from virtual items to characters to NFTs, which are stored on a blockchain and can even be traded outside of the game.
Mass adoption of blockchain games
One of the major points in the report is how these new games can transform mobile gaming. Blockchain-based mobile games offer players the chance to monetize their skills and gameplay, turning a previously passive activity into one with financial rewards.
The report noted that blockchain gaming is on the verge of mass adoption, with “a growing interest from gamers eager to participate,” according to Michał Dąbrowski, CEO of Elympics.
However, the report noted that Web3 gaming is still overcoming skepticism due to the flaws of its earlier versions. Initial blockchain games faced issues like poor design and broken in-game economies.
According to the survey, the most common reason for not playing blockchain games is uncertainty about how to get started, with 32.11% of respondents citing that they “have no idea how to start.”
Today, the industry has learned from some of these mistakes, with developers focusing on creating better games with solid economic models that encourage fair play and real ownership of digital assets. Elympics believes that, by adding real-world stakes to gaming, Web3 could be the next big shift in the industry.
TON and Telegram
TON (TON) and Telegram have embraced blockchain to drive engagement and revenue without compromising user trust, the report noted. TON has become a popular hub for hyper-casual games like Notcoin (NOT) and Hamster Kombat, attracting millions of users.
Telegram’s simplified crypto wallet, automatically integrated for non-US users, eliminates barriers to entry, helping onboard millions of real users effortlessly.
Blockchain games on TON appeal to both casual and competitive gamers, offering a seamless experience that feels no different from traditional Web2 games.
The report concluded that platforms like Telegram are helping to bridge the gap between Web2 and Web3, creating an ecosystem where players may not even realize they are engaging with blockchain technology.
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Culture
“PickleBit”: Proof of Workforce, Fold, and Pickle Pop Partner on Pickleball Tournament, Offer Bitcoin Prize Pool
Published
4 hours agoon
September 18, 2024By
adminThe Santa Monica-based non-profit Proof of Workforce Foundation has partnered with Bitcoin financial services company Fold and Pickle Pop to organize a Bitcoin-themed Pickleball tournament, offering a $5,000 prize pool for entrants and winners.
The tournament is slated to be held on October 18 in Santa Monica, California during the Peer to Pier Bitcoin Festival. Featuring both a semi-pro and amateur division, the winner of each division will receive their payouts in bitcoin. Entrants will also have the opportunity to win Bitcoin hardware wallet devices provided by CoinKite.
“This will be an incredible event, bringing together two talented and high growth communities, Bitcoiners and Pickleballers, to support creative re-use of commercial space on the 3rd street promenade”, said Proof of Workforce Founder and Santa Monica firefighter Dom Bei.
Earlier this year, Bei’s Foundation partnered with the City of Santa Monica to launch the Santa Monica Bitcoin Office, making it the first U.S. city to do so.
“The Santa Monica Bitcoin Office is already bringing communities and revenue opportunities to key areas of our economic revitalization strategy, and has done so at zero cost to the city”, said City of Santa Monica Vice Mayor Lana Negrete. “This is exciting and an example of collaborative and innovative ideas to reimagine retail on 3rd Street.”
Brian Harrington, Senior Marketing Manager at Fold, added:
“I’ve loved seeing the Bitcoin community grow in Southern California over the years and what the city of Santa Monica is doing with it is amazing.”
Participants can register for the tournament on the PickleBit tournament website, where they will also receive bitcoin rewards for signing up and playing in the tournament.
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Bitcoin ETF
BlackRock Releases a New Report, "Bitcoin: A Unique Diversifier"
Published
8 hours agoon
September 18, 2024By
adminAsset management giant BlackRock, with over $10 trillion in assets under management, has published a new report touting Bitcoin as a unique portfolio diversifier. This marks the latest embrace of Bitcoin from the world’s largest asset manager.
Earlier this year, BlackRock launched a Bitcoin exchange-traded fund (IBIT), rapidly becoming one of the most successful ETF launches ever. The Bitcoin ETF already has over $21 billion in assets under management.
BlackRock CEO Larry Fink also recently changed his sceptical stance on Bitcoin, admitting he was “wrong” to dismiss it. The firm has steadily released research explaining Bitcoin’s potential role for investors.
The new report explains that while volatile, Bitcoin is fundamentally detached from other asset classes over the long term. It argues Bitcoin’s adoption depends on global concerns over monetary stability, geopolitics, fiscal policy, and political stability – the inverse of traditional “risk assets.”
“Bitcoin, as the first decentralized, non-sovereign monetary alternative to gain widespread global adoption, has no traditional counterparty risk, depends on no centralized system, and is not driven by any one country’s fortunes,” the report states.
As major traditional finance players like BlackRock increasingly embrace Bitcoin, its reputation and adoption will likely accelerate, bringing it further into the mainstream. BlackRock’s continued pro-Bitcoin stance reflects growing acceptance by global financial institutions.
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