Crypto
Wazupnaija – Naija Entertainment blogs & Forums – Business – Crypto
Revoland Interview: What exactly does blockchain gaming offer compared to conventional gaming?
Blockchain gaming is quite an exciting space, with new innovations cropping up all the time. With the meteoric rise of both e-gaming and cryptocurrency in recent years, and the various potential use cases that incorporating blockchain into gaming could offer, it makes sense that we are seeing an exciting sector pop up which merges these two dynamic industries. Revoland is one such firm operating in this space. As the first blockchain-based multiplayer online battle arena (MOBA) game, it recently raised $10.6 million during seed and pre-sale rounds. The project calls on gamers to team up with colleagues, family, and friends to compete with other players for rewards in $LAND, a native token of the platform. The title was developed by Chain X Game (CXG): a London-based metaverse g...
Corporate evolution: How adoption is changing crypto company structures
Crypto-focused companies have come a long way since their beginnings in terms of corporate structure, employee motivation, decision-making systems, compliance and other aspects of their operations. While the early 2010s saw startups founded by small groups of crypto enthusiasts, the space has since grown to become home to large institutional businesses. Still, crypto companies are engaged in business, and business is alien to anarchy. The rapid growth of the cryptocurrency industry in the 2010s transformed small, independent businesses into huge conglomerates with thousands of employees and offices worldwide. Investment funds and professional investors own shares of them, many have functioning boards of directors, and their corporate structures have dozens of departments and divisions. But...
Hong Kong’s Securities and Futures Commission warn of nonfungible token risks
On Monday, Hong Kong’s Securities and Futures Commission (SFC) released a statement warning investors about the risks of nonfungible tokens, or NFTs, which have soared in popularity in recent years. The regulatory body wrote: “As with other virtual assets, NFTs are exposed to heightened risks, including illiquid secondary markets, volatility, opaque pricing, hacking and fraud. Investors should be mindful of these risks, and if they cannot fully understand them and bear the potential losses, they should not invest in NFTs.” However, it appears that the SFC’s specific concern lies in the securitization of NFTs. “The majority of NFTs observed by the SFC are intended to represent a unique copy of an underlying asset such as a digital image, artwork, music or...
CertiK shares security tips following third BAYC security compromise in six months
On June 4, the popular nonfungible token, or NFT, project Bored Ape Yacht Club (BAYC) suffered its third security compromise this year. Nearly 142 Ether (ETH) ($250,000) worth of NFTs was stolen after hackers gained access to the Discord account of a BAYC community manager and posted a message with a link to a fake website. The link advertised a limited-time free-NFT giveaway to users who connected their wallets, which were then drained of NFTs. During two prior occasions in April, hackers breached BAYC’s Discord and Instagram pages and managed to siphon 91 NFTs, worth over $1.3 million at the time of the second attempt, via a phishing link. As told by blockchain security firm CertiK, hackers quickly moved stolen funds to obfuscation platform Tornado Cash, making it imposs...
Avalanche price eyes 30% jump in June with AVAX’s classic bullish reversal pattern
Avalanche (AVAX) shows signs of continuing its ongoing rebound move as it paints a classic bullish reversal pattern. AVAX price to $35? Dubbed as “double bottom,” the pattern appears when the price establishes a support level, rebounds, corrects after finding a resistance level, pulls back toward the previous support and bounces back toward the resistance level to pursue a breakout. Since May 27, AVAX’s price trends appear like those typically witnessed during the double bottom formation. Specifically, the AVAX/USD pair on the four-hour chart has bounced twice after testing the same support level near $22.25, and now eyes a breakout above its resistance level — also called “neckline” — near $27.50. AVAX/USD four-hour price chart with “double bottom'...
Top internet of things (IoT) tokens not to miss in June
Helium (HNT), IOTA (MIOTA), and IoTeX (IOTX) are some of the best IoT tokens to get in June. HNT increased by 15%, MIOTA by 8%, and IOTX by 6% in the last 24 hours. Each of these tokens has huge potential for growth in the near future. Helium (HNT), IOTA (MIOTA), and IoTeX (IOTX) are some of the best Internet of Things (IoT) tokens that you can get on June 6, 2022. On June 5, 2022, Helium announced that the community voting for HIP 51 closes on June 7 and reminded users to cast their vote for the evolving network through the DAO. On June 6, 2022, IOTA made a recap video of some of the biggest news, where they announced the Stardust protocol upgrade on Shimmer. IoTeX also announced that the RoninX Foundation joined forces with SPROCKIT, which is an accelerator that brings new tech...
‘WeCryptoEco’ Opens the World’s Largest Solar Powered Farm to NFT Holders
Essex, United Kingdom, 6th June, 2022, Chainwire WeCryptoEco, the brainchild of business visionaries James Ross and Roderick Chisholm, is exploding onto the scene. Founded in 2022, WeCryptoEco, the environmentally friendly crypto mining project, is changing the process by lessening the impact on the earth’s resources. At WeCryptoEco, the team is building the world’s largest solar-powered blockchain, AI, and bitcoin mining farm, instead of mining at all costs. Environmentalists around the world have grave concerns about the regular mining process. Studies show bitcoin mining emits over 37 megatons of carbon dioxide each year. The New Yorker reports that “according to the Cambridge Bitcoin Electricity Consumption Index, bitcoin-mining operations worldwide now use energy at the rate...
DeFi community rallies behind PoolTogether to hit $1.4M NFT defense funding target
No-loss lottery decentralized finance (DeFi) platform PoolTogether has reached 100% of its legal defense funding goal via the sale of NFTs. It has taken the project just ten days to reach its funding goal of 769 Ether (ETH) or $1.4 million, signaling strong support from the DeFi community who are rallying against a lawsuit that some feel is an attack on the greater sector as a whole. the community has spoken @PoolyNFT https://t.co/pJSRUfjk3f — francom.eth (@francom619) June 5, 2022 PoolTogther is currently selling three tiers of NFTs as part of a funding campaign dubbed “PoolyNFT” to fight a class-action lawsuit that it feels has “no merit.” The NFTs are priced at 0.1 ETH, 1 ETH and 75 ETH a pop, and vary in the number of total minted tokens, and the project will eventually roll out ...
BTC price snaps its longest losing streak in history — 5 things to know in Bitcoin this week
Bitcoin (BTC) starts a new week with some fresh hope for hodlers after halting what has been the longest weekly downtrend in its history. After battling for support throughout the weekend, BTC/USD ultimately found its footing to close out the week at $29,900 — $450 higher than last Sunday. The bullish momentum did not stop there, with the pair climbing through the night into June 6 to reach multi-day highs. The price action provides some long-awaited relief to bulls, but Bitcoin is far from out of the woods at the start of what promises to be an interesting trading week. The culmination will likely be United States inflation data, this itself a yardstick for the macroeconomic forces at world globally. As time goes on, the impact of anti-COVID policies, geopolitical tensions and supply shor...
MetaBrewSociety to offer voting rights over a brewery via NFTs and DAO
Munich-based MetaBrewSociety (MBS) will soon offer voting rights on the business decisions of a physical brewery via nonfungible tokens (NFTs) and a decentralized autonomous organization (DAO). The MBS was formed in February this year by a group of beer-loving NFT investors and entrepreneurs that came up with the idea to combine a brewery with the Metaverse, a DAO and NFTs to create a “tangible IRL utility that carries a concrete value” for participants. As part of the project, MBS will offer a range of tokenized “beer share” certificates that offer varying levels of governance rights over a physical brewery in Munich that will also have a presence in the Metaverse. The Sandbox platform is being considered as a potential location. All of the NFTs will entitle the holder to at least 100 can...
Remote roles in blockchain offer flexibility for women: Alien Worlds co-founder
Saro McKenna, the co-founder of nonfungible token game Alien Worlds and CEO of blockchain consulting firm Dacoco, shared perspectives and personal experiences regarding inclusivity within the blockchain industry in an interview with Cointelegraph. Having experienced other male-dominated industries, McKenna shared how she believes that communities within the blockchain industry are “extremely diverse.” She explained that the people working in blockchain are from various backgrounds, and because of this, they offer “unique perspectives and interests.” She also noted that the space gives women who are primary caretakers of their children the opportunity to push their careers forward because of remote opportunities. She explained: “Given women still tend to be the primary caretakers when...
Top 5 cryptocurrencies to watch this week: BTC, ADA, XLM, XMR, MANA
The bears are trying to extend Bitcoin’s (BTC) record of nine consecutive red weekly candles to ten weeks, but the bulls are trying to avert this negative occurrence. Although sentiment remains negative, Arthur Hayes, former CEO of derivatives giant BitMEX, anticipates Bitcoin to bottom out in the range of $25,000 to $27,000. On-chain data from Glassnode shows that smart money may have started accumulating Bitcoin. The net outflows from major cryptocurrency exchanges reached 23,286 Bitcoin on June 3, the highest since May 14. Crypto market data daily view. Source: Coin360 Another positive sign of accumulation is that investment into Bitcoin exchange-traded products (ETPs) was strong in May and has only risen further in the first two days of June, according to an Arcane Research report. The...
