Autor Cointelegraph By Sam Bourgi

Binance US officially launches trading services in Connecticut

Binance US officially launches trading services in Connecticut

Uverejnil používateľ | jan 20, 2022 |

United States cryptocurrency exchange Binance US, which operates separately from the global Binance platform, has officially opened its trading services to residents of Connecticut. Beginning Jan. 20, Connecticut residents can register to buy, sell and trade digital assets such as Bitcoin (BTC) and Ether (ETH) on the Binance US platform, the company announced Thursday. Residents will also have access to the Binance US mobile app on Android and Apple devices. Binance US launched in 2019 to provide regulated crypto trading services to residents of the United States. Currently, the trading platform is approved to operate in 44 U.S. states and intends to secure approvals across all 50 states and territories. Binance US CEO Brian Shroder said his firm’s expansion reflects the growing demand for digital assets in the country. A new survey of Americans conducted by crypto platform Voyager Digital seems to corroborate that view. According to the survey, nearly two-thirds, or 61%, of Americans may purchase digital assets this year. Fifty percent of the survey participants said they would invest more in cryptocurrencies if they understood the asset class better. Related: Crypto mainstream adoption: Is it here already? Experts answer, Part 3Meanwhile, separate data from Arcane Research shows that the United States is dominating the Bitcoin trading arena. So far this year, U.S. trading hours account for 43% of Bitcoin’s average 24-hour trading volumes.Binance US wants to go public on the US stock market. Amid a myriad of regulatory concerns across the globe, is this a good idea for the brand? https://t.co/sREkorqjUh— Cointelegraph (@Cointelegraph) July 25, 2021As Cointelegraph reported, Binance US is eyeing a “mega funding” deal through an initial public offering. Binance CEO Changpeng Zhao expressed confidence in the U.S. firm’s ability to raise the funds even after investors reportedly backed out a similar initiative last summer over regulatory concerns.

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THORChain brings DeFi yields and swaps to DOGE

THORChain brings DeFi yields and swaps to DOGE

Uverejnil používateľ | jan 19, 2022 |

Cross-chain liquidity network THORChain has enabled support for Dogecoin (DOGE) — bringing a new suite of decentralized finance (DeFi) capabilities to the popular memecoin.Beginning this week, users have the ability to swap DOGE or earn yields on their DOGE holdings using THORSwap, a non-custodial decentralized exchange. In practice, this means users can swap DOGE for native assets such as Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), Litecoin (LTC) and stablecoins such as Tether (USDT), USD Coin (USDC) and Binance USD (BUSD). All swaps between THORChain assets, including DOGE, can be completed in one step without the need to bridge, wrap or peg assets. A THORChain developer informed Cointelegraph that a liquidity pool has been established for DOGE. The pool gives DOGE liquidity providers the ability to earn yields on their deposits from trading fees. Like other liquidity providers on THORChain, depositors have impermanent loss protection based on the length of time of each deposit. Chad Barraford, THORChain’s technical lead, said the integration gives DOGE “a new level of self-sovereignty” by allowing users to enter and exit the market free of Know Your Customer (KYC) regulations. Barraford said Dogecoin’s new DeFi capacity “changes the fundamentals of the asset both as a store of value and as a medium of exchange.”At its peak in November 2021, THORChain amassed over $400 million in total value locked, or TVL, which reflected a massive early interest in cross-chain swapping solutions. Just one month earlier, THORSwap concluded a $3.75 million private token sale that was supported by IDEO CoLab Ventures, Sanctor Capital, Nine Realms, 0xVentures and others. Tesla merch buyable with Dogecoin— Elon Musk (@elonmusk) January 14, 2022Related: Vitalik Buterin gives thumbs down to cross-chain applicationsDOGE rose to prominence in early 2021 after major influencers — notably, Elon Musk — talked up the merits of the memecoin on social media. In the process, DOGE became an accepted form of payment for Dallas Mavericks tickets and, more recently, Tesla merchandise. It currently ranks 11th by total market capitalization with a value of $21.8 billion, according to CoinMarketCap.

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a16z, Google lead $20M investment in Africa Web3 game publisher Carry1st

a16z, Google lead $20M investment in Africa Web3 game publisher Carry1st

Uverejnil používateľ | jan 19, 2022 |

Web3 and social games publisher Carry1st has raised $20 million in Series A funding to further expand product development in Africa — a continent that could become the premier hub for the gaming industry over the next decade. The investment round was led by Silicon Valley venture firm Andreessen Horowitz, which has been highly active in the blockchain space, with additional participation from Avenir and Google-parent Alphabet. Carry1st’s existing backers, including Riot Games, Konvoy Ventures, Raine Ventures and TTV Capital, also participated in the investment round. The cash injection will be used by Carry1st to expand its content portfolio, grow its in-house development team and spearhead a new growth strategy to attract tens of millions of new users. A key pillar of its growth strategy is developing infrastructure to support play-to-earn gaming, which allows users to monetize their gaming experience. Alphabet’s investment in Carry1st is part of its Africa digital transformation initiative, which was announced in October 2021 by CEO Sundar Pichai. At the time, Pichai identified Africa as a major growth driver for the digital economy with an estimated 300 million people expected to come online over the next five years. If existing trends are any indication, many of those new users will be gamers. As a leading publisher of social games in Africa, Carry1st appears to be in a unique position to capitalize on this potential. In addition to providing a full-stack publishing platform, the company develops games with embedded payments solutions and online marketplaces to support monetization. The company has publishing deals with several developer studios, including Tilting Point, the publisher of Nickelodeon’s SpongeBob: Krusty Cook-Off and Sweden’s Raketspel. Africa is quickly asserting itself as one of the biggest consumer markets for peer-to-peer payments and decentralized networks. Several major economies in the region, including Nigeria, have embraced Bitcoin (BTC) for payments and remittances. Blockchain analytics firm Chainalysis estimates that the continent’s crypto market grew 1,200% between 2020 and 2021. The gaming industry is expected to grow exponentially over the next 10 years, creating new opportunities for Web3 and play-to-earn business models. Related: Binance sponsors AFCON to further develop crypto adoption in AfricaAccording to research from Newzoo and Cary1st, the number of gamers in Sub-Saharan Africa is set to grow 275% over the next decade.

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NFT marketplace Metaplex raises $46M to expand gaming and metaverse applications

NFT marketplace Metaplex raises $46M to expand gaming and metaverse applications

Uverejnil používateľ | jan 18, 2022 |

Nonfungible token (NFT) marketplace Metaplex has concluded a $46 million investment round to support its strategic pivot into metaverse applications — offering further evidence that existing blockchain networks were looking to capitalize on advances in Web3 technology. The investment round was co-led by venture firms Multicoin Capital and Jump Crypto, with additional participation from Solana Ventures, Alameda Research and Animoca Brands. Over 90 individual investors also participated in the raise, including NBA legends Michael Jordan and Allen Iverson. The funding round will allow the Metaplex Foundation, which oversees the development of the Metaplex protocol, to expand its support for metaverse and gaming applications beginning this year. As an NFT-first protocol, Metaplex has already been used to create over 5.7 million digital collectibles for 85,000 projects, according to the company. Metaplex launched its NFT marketplace on Solana in June 2021 with support from cryptocurrency exchange FTX. The platform was designed to provide infrastructure support to the nascent, but thriving, NFT community. Despite its recent slump, the NFT market is poised to continue growing this year after a record-breaking 2021 that saw creators generate over $17 billion in sales. Debates about the #Metaverse have begun. Crypto leaders are divided over whether Mark Zuckerberg should lead Facebook into the Metaverse. Should he resign, or is he all the company needs to move forward? https://t.co/6VDiUZEHl0— Cointelegraph (@Cointelegraph) November 5, 2021The concept of the metaverse, which refers to a broad digital world that integrates technology and real life, was popularized in 2021 after Facebook rebranded to Meta in its attempt to capitalize on the emerging market. At the time, Vishal Shah, Facebook’s head of metaverse products, said creators will have free rein to create many kinds of digital objects on the metaverse. Related: An Indonesian 22-year-old makes $1M by selling NFT selfies on OpenSeaAccording to Cointelegraph Consulting, metaverses and NFTs have a natural connection in that nonfungible tokens can add a certificate of ownership or authenticity to assets belonging to the digital world. Proof of ownership will become more integral to metaverse applications as they continue to attract more users and concepts such as digital land become more commonplace. 

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NFT-focused Animoca Brands valued at $5B following $358M raise

NFT-focused Animoca Brands valued at $5B following $358M raise

Uverejnil používateľ | jan 18, 2022 |

Hong Kong-based software and venture firm Animoca Brands has secured $358.8 million in capital investments to fuel new acquisitions in the nonfungible token (NFT), gaming and metaverse sectors, further cementing crypto’s biggest trends in 2022. The funding round was led by Liberty City Ventures and had participation from some of blockchain’s biggest venture funds, including 10T Holdings, Gemini Frontier Fund, ParaFi Capital, Provident, Sequoia China, and Winklevoss Capital, among several others. Animoca said the capital injection will go towards financing strategic acquisitions and investments, product development, and license acquisition for intellectual properties. The company said its vision is to create a metaverse that enhances users’ digital property rights through NFTs. Opportunities within GameFi — a broad concept that refers to the financialization of gaming through NFTs and DeFi — are also envisioned as being part of this environment. “Play for fun” or play to earn? The president of Japanese game developer and publisher Square Enix has published a letter to fans, detailing their plans for the metaverse, blockchain and NFTs. https://t.co/MFYFVv2BM2— Cointelegraph (@Cointelegraph) January 3, 2022Regarding GameFi, Animoca referenced industry research showing that the global video game market is expected to reach $829 billion in 2028, up from $180.3 billion in 2021. The industry’s sizable growth is expected to feed into play-to-earn games and other forms of in-game monetization. Animoca raised over $216 million during the course of 2021, while its subsidiary, The Sandbox, concluded a $93 million funding round in early November. With the latest funding, Animoca further cemented itself as one of crypto’s fastest-growing unicorns with a pre-money valuation of $5 billion. That’s more than double the $2.2 billion valuation it received in October 2021. Startups become “unicorns” when they achieve a valuation of at least $1 billion. Several crypto-focused companies have crossed that threshold over the past 12 months, including Amber Group, Bitso, Blockstream, CoinList, ConsenSys, Figure Technologies, OpenSea, and 2TM, among others.[embedded content]Related: OpenSea raises $300M for encrypted digital marketplaceVenture capital funds are betting big on blockchain technology and its role in reshaping the internet and digital economy. As Cointelegraph reported, venture funds poured over $17 billion into blockchain startups through the first 10 months of 2021. That’s more than three times the amount for all of 2020.

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