Business

What is Sorare and how to play it?

Sorare is where fantasy soccer and cryptocurrency meet. For soccer fans, this is a way to be competitive off the field and invest heavily right away. Users can play the game online in their browser or download the Sorare app. In this article, you will read all about what exactly Sorare is and how it works. What is Sorare? Sorare is a blockchain-based fantasy soccer game adored by many soccer fans worldwide. The founders of the platform want to give fans the opportunity to develop and play the game, even when they can’t play it on the field. Users can buy, trade, sell and manage a virtual team with digital player cards. By competing against other users of this fantasy football game, you can earn points. It’s more than simply playing virtual tournaments because you need to build strategies a...

DeFi-ing exploits: New Chainalysis tool tracks stolen crypto across multiple chains

Blockchain analytics firm Chainalysis has released a new tool to track transactions across decentralized finance (DeFi) protocols and multiple blockchains. Chainalysis launched a beta version of its Storyline software on Wednesday. Touted as a “Web3-native blockchain analysis tool,” Storyline aims to track and visualize smart contract transactions with a focus on nonfungible tokens (NFTs) and DeFi platforms. This is in line with the growing popularity and prevalence of NFTs and DeFi in the cryptocurrency space over the past year. Chainalysis provides blockchain analysis and annual reports on cryptocurrency crime trends and other analytics. The ever-changing landscape has seen DeFi and NFTs become important cogs in the ecosystem, with Chainalysis estimating the two sectors account for more ...

Terra crash not a risk to the broader crypto ecosystem, says Huobi Global CEO

As the fall of Terra (LUNA) and TerraUSD (UST) may have a noticeable short-term impact on the decision-making of both retail and institutional investors, it doesn’t pose a risk to the larger crypto ecosystem, according to Du Jun, CEO of Huobi Global CEO.  In an interview with Cointelegraph, Jun explained that the collapse of Terra will affect the ecosystem by slowing down investor interest in crypto as an asset class. However, Jun noted that this will only be a short-term effect. In the long term, the exchange CEO explained that crypto like Bitcoin’s (BTC) demand as a hedge against fiat inflation will grow along with the advent of new applications for blockchain: “In the long term, demand for cryptocurrencies as a hedge against fiat inflation will continue to grow, as well as for appl...

If you’re a sports fan, here are some of the best sports tokens you can get on May 18, 2022

Numerous exchanges have sponsored huge events regarding the sports industry, and as such, sports fans have found a lot of appeal in cryptocurrency tokens that follow that theme. FTX and Crypto.com specifically might have put more than $1 billion dollars into sports sponsorships throughout 2021. We are going to go over the best tokens you can get as a sports fan so you can be a part of the crypto industry: Dotmoovs (MOOV) and Chiliz (CHZ). Throughout the past few years, many blockchain and crypto companies have started to push into the sports industry. Coinbase, Crypto.com, eToro, FTX, and Tezos are some of the biggest crypto companies that are making huge crypto sponsorships and partnerships. There are speculations that FTX and Crypto.com specifically have put more than $1 billion dollars ...

Nigeria introduces new rules for cryptocurrency

Nigeria wants more clarity on digital currency trading. That is why the country has released new rules for crypto. Nigeria’s Securities and Exchange Commission published “rules on the issuance, platform offering and custody of digital assets” for virtual technologies, the commission said on its website. Second-largest trading volume These rules apply to digital assets regulated by the SEC. By providing more clarity on these rules, it could increase trade in the country, according to Bloomberg. It might be better to say: increase even more. Nigeria is responsible for the second-largest crypto trading volume in the world, according to Bloomberg. “Nigeria accounts for the largest volume of cryptocurrency transactions outside the US,” the article reads. The only dubious thing about this statem...

Spotify enters the Metaverse through partnership with Roblox

Spotify, the leading music streaming platform, is ready to enter the realm of Web 3.0. The music streaming giant has joined forces with the popular game Roblox to offer its users a virtual universe experience. “Roblox fans, pack your bags,” the reveal read. Music meets nature Spotify encourages users of the digital universe to visit their new island. Additionally, Spotify’s metaverse in Roblox has a green, nature-focused design and features Spotify’s signature colour scheme, to give those using the Spotify app a familiar feeling. Launched on May 3, Spotify invites its users to perform various tasks to “climb the charts”, or in this case the Roblox leaderboard. Once on Spotify Island, users can do a number of things: Unlock four items for free, experiment with the magic of sound in a crysta...

Binance seeks German license after recent approval by French regulators

The crypto exchange giant aims to become a licensed digital asset service provider in the biggest economy in Europe The move comes just weeks after the exchange acquired regulatory approval from France regulator in a quest to bite into the European market Expansion plans by the world’s largest crypto exchange in terms of volume, Binance, have shifted focus on winning regulatory approval in Germany.  Co-founder and CEO Changpeng Zhao announced that the exchange held back late last year after pressure from financial authorities across several jurisdictions, Germany included, forced them to stop operations. Germany could join Dubai, Abu Dhabi and Bahrain in the list of jurisdictions where Binance has clearance to operate in. Binance CEO recently revealed at a conference that the exchange...

$3B flows to Metaverse and Web3 gaming this month as A16z’s tips in $600M

Venture capital firm Andreessen Horowitz (a16z) has launched a $600 million fund dedicated to gaming startups with a focus on Web3 saying it believes “games infrastructure and technologies will be key building blocks of the Metaverse.” Dubbed “GAMES FUND ONE” the fund will invest in three main areas: game studios, consumer applications which support player communities with Discord used as an example, and gaming infrastructure providers. The a16z team said “the coming Metaverse will be built by games companies, using games technologies” and that the industry has already “solved many of the problems that need to be solved to create the Metaverse.” It believes games will become the “dominant way people spend time.” The move by a16z marks nearly $3 billion committed by venture funds and gaming...

‘Grim Reapers’ financial crimes unit revived to investigate Terra collapse

Legal troubles are mounting for the co-founder of failed Terra crypto project Do Kwon as the South Korean government revives the dormant “Grim Reapers of Yeoui-do” to investigate Terra’s fall. The special investigative and prosecutorial team consists of members from various financial regulators, and is designed to prosecute securities fraud and unfair trading schemes. Potentially at risk are co-founders Do Kwon and Shin Hyun-seong, along with core members of the Terra team. Yeoui-do is the financial center of Seoul. Today: Korea’s “Grim Reapers of Yeouido” – Financial and Securities Crime Joint Investigation Team – are back after 2.5 years. And its first target is $LUNA / @terra_money — Jun (@zunahn) May 18, 2022 Korean news outlet SBS News confirmed on Wednesday th...

Novogratz says LUNA tattoo is a constant reminder investing ‘requires humility’

Mike Novogratz, the billionaire founder of crypto asset management firm Galaxy Digital, has told his followers that his LUNA-inspired tattoo will serve as a reminder to remain humble in the world of venture capital investing.  Following the fallout of the recent LUNA / UST meltdown, Novogratz penned an open letter on Wednesday, telling his followers that: ​​“My tattoo will be a constant reminder that venture investing requires humility.” It was on Jan. 5 tha Novogratz first showed off his wolf-themed tattoo to his 461,000 Twitter followers in an enthusiastic demonstration of his support for the now-collapsed Terra ecosystem. pic.twitter.com/GBZ6qq4kdr — Mike Novogratz (@novogratz) January 5, 2022 Terra’s UST stablecoin, which relied on an algorithm to maintain a peg to the U.S. dollar...

Crypto jobs market holding up despite tech industry cutbacks

The crypto job market shows few signs of slowing down despite high profile cases of staff layoffs and hiring freezes across big tech companies.  In recent weeks, several major tech companies have announced a paring back of staff, citing a downturn in the traditional market and narrowing demand for products that had boomed during the pandemic. Recently announced hiring cuts include Twitter, Uber, Amazon and Robinhood. On Tuesday, movie streaming service Netflix terminated the roles of 150 mostly U.S.-based employees, amidst a slowdown in revenue growth. Earlier this month, Facebook parent company Meta instituted a hiring freeze for most of its mid and senior level positions after failing to meet revenue targets. A Netflix employee post on LinkedIn The crypto industry has not been total...

Fyre Festival Founder Billy McFarland Released From Prison to Halfway House

McFarland has been released from the Milan Federal Correctional Institution in Milan, Michigan, where he was being held, according to the Bureau of Prisons website and confirmed by his attorney Jason Russo. He is now under the management of Residential Reentry Management New York — the administrative office overseeing halfway houses located in southern New York, eastern New York and New Jersey. TMZ first reported the news. McFarland’s release date from the halfway house is currently set for Aug. 30. In 2018, McFarland was sentenced to six years in prison after admitting to defrauding investors in the disastrous 2017 Fyre Festival, which was promised to be a luxury destination music event with extravagant promotion from A-list celebrity influencers. But when ticket-holders showed up to the ...