Autor Cointelegraph By Sean Moore

GameStop releases public beta NFT marketplace

GameStop releases public beta NFT marketplace

Uverejnil používateľ | júl 12, 2022 |

Gaming giant GameStop (GME) launched its own non-fungible token (NFT) marketplace on July 11. The new NFT marketplace intends to deliver low fees and high speeds. Users of the marketplace can buy, sell, trade, and create NFTs. The marketplace features functionality to enable users to view statistics for NFTs, and educational material is also provided. Educational content includes everything from NFT basics to how to connect a wallet to the marketplace is covered.It’s a non-custodial, Ethereum Layer 2-based application, and users can connect to the marketplace using the GameStop Wallet or other Ethereum (ETH) compatible wallets. Cointelegraph reported in May regarding the GameStop Wallet and plans for the new NFT marketplace.The marketplace displays featured NFTs and NFT creators and collections on the app’s main screen. A deeper analysis of the market is also possible through the Explore interface. There are currently 236 NFT collections in the marketplace.Related: NFT hype evidently dead as daily sales in June 2022 dip to one-year lowsSeveral Web3 games are coming to the marketplace through Immutable X, including Illuvium, Gods Unchained, and Guild of Guardians. GameStop partnered with Immutable X back in February.This is a public beta of the application, and users should expect outages until the full version of the marketplace is released.

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Former head of TikTok gaming leaves Web2 to build core Web3 protocol

Former head of TikTok gaming leaves Web2 to build core Web3 protocol

Uverejnil používateľ | júl 8, 2022 |

Cointelegraph had the opportunity to chat with Jason Fung, former head of gaming at TikTok, about his new company Meta0, why he decided to make the leap into Web3 and what he feels the future has in store for him. The former gaming head expressed an elevated level of excitement, proclaiming that it was Day One for the fledgling Metaverse technology startup. Fung explained that he plans to bring his wealth of knowledge and experience in gaming and software development to achieve a grander version of what the Metaverse could be.“Many Web2 companies are trying to figure out how metaverse fits into their business models. What does it mean to transfer the ownership of assets to users and to be more decentralized? Is it worth the risk associated with giving up control and ownership? There are legal considerations among others to think through before moving that direction.”Fung said that Meta0 aims to encourage others in the Web2 space to begin making moves into Web3 and join the effort to build the Metaverse while solving real-world problems.Related: Nifty News: NFT and Web3 gaming console to launch in 2024, Chinese firms to check ID for NFT buying and moreHis career focus has been on tournament platforms and esports, though he worked on mini-games and created new player experiences while at TikTok. He explained that his deep interest in gaming and blockchain helped him to identify the issues facing Metaverse development in its current iteration. He spoke about interoperability as one of the major issues facing the Metaverse, namely between implementations, protocols, technologies and companies involved with developing this space.When asked about the newly announced Digital IF Interoperability Consortium, he called it a step in the right direction, noting that there are very few standards at the moment. Fung told Cointelegraph, “We want to make blockchains to work together and communicate with one another. We evaluated what are the pros and cons of different blockchains and the best use cases for interoperability.”“Meta0 allows game developers to build different parts of their games on different blockchains simultaneously. Cross-chain interoperability will come into play. Some of the developers we are talking to now appreciate our multi-chain game development approach.”Meta0 is also working closely with Waves Labs, the growth engine for the Waves Ecosystem, in an incubation program to help raise awareness and assist the new company and its initiatives. Fung said that they are set to announce a Waves Fund in the near future. He commented that Waves is a great incubator, making dreams and realities come true.Meta0 hopes to bring games to Web3 in an effort to solve the interoperability issues currently seen in the Web3 space. For developers, this means an API and SDK that can integrate directly into games. For gamers, it means easier access to Web3-based gaming. For Jason, he told Cointelegraph it means a bright new beginning, saying “There is a lot more to tell of this story.”

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Reddit announces new blockchain-backed ‘Collectible Avatars’

Reddit announces new blockchain-backed ‘Collectible Avatars’

Uverejnil používateľ | júl 8, 2022 |

Content aggregation, ranking, and discussion website Reddit announced a new blockchain-backed avatar system on Thursday. Though no official date was revealed, the company suggested that the avatars will be available to the general public in the next few weeks. For now, Reddit is providing first-look early access to a limited number of people who join the r/CollectibleAvatars community.Collectible Avatars are a set of limited-edition artwork created by independent artists who are also users of the Reddit website. The new avatars can be purchased with local currencies, however the announcement stated the artwork is stored on the Polygon (MATIC) blockchain. In addition, management of the Collectible Avatars is handled through Vault, Reddit’s blockchain-powered wallet that functions on Ethereum-compatible chains.Related: ANALYSIS How the Metaverse can revolutionize the fashion industryThis latest move by Reddit aims to empower artists that use the website, as stated in Thursday’s announcement on their website:“From the start, our goal has been to empower artists to create and sell their work. Artists will get paid for every Collectible Avatar that sells on Reddit, less any fees, and are also entitled to receive royalties from secondary sales of their Collectible Avatars on open marketplaces.”The new collection will be available where Reddit users normally build their avatars on the website. Once a Collectible Avatar has been purchased, it can be used as an avatar on Reddit. Owners of the Collectible Avatars will be eligible to receive unique benefits and Collectible Avatar creators will receive a percentage of future secondary sales. From Thursday’s announcement, “Collectible Avatars are currently stored on Polygon, a general-purpose, Ethereum-compatible blockchain. We chose Polygon for its low cost transactions and sustainability commitments.”Reddit said that the avatars aren’t proper NFTs, and cryptocurrencies aren’t part of the process of buying or selling them for now, but indicated that, “Blockchain-backed Collectible Avatars are one of the early steps we’re taking to test out the potential benefits of this concept on Reddit.”Reddit also mentioned future visions the company in regards to the concept’s related features:“In the future, we see blockchain as one way to bring more empowerment and independence to communities on Reddit. Reddit has always been a model for what decentralization could look like online; our communities are self-built and run, and as part of our mission to better empower our communities, we are exploring tools to help them be even more self-sustaining and self-governed.”This isn’t Reddit’s first foray into NFTs, the company released CryptoSnoos back in February of this year.Amidst the crypto crash of 2022, some companies are choosing to build. Other recent NFT developments include a new DappRadar report showing that there could be NFT platform wars ahead, and the Lamborghini-backed GT racing team’s decision to authenticate car parts using NFTs. While art-based tokens have been very popular over the last few years, some have started looking at expiring copyrights as the next potential NFT gold rush.

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NFT platform wars could be ahead, says new DappRadar report

NFT platform wars could be ahead, says new DappRadar report

Uverejnil používateľ | júl 6, 2022 |

DappRader’s Dapp industry report for Q2 2022 raised, among many points, the idea that an upcoming non-fungible platform war could be on the horizon.The report, which was provided to Cointelegraph, spoke of how UniSwap recently acquired Genie and OpenSea purchased Gem in an effort to expand their respective services to include NFT aggregation tools, which “accumulate NFT offers from various trading platforms”. Meanwhile, newer platforms such as Magic Eden and X2Y2 continue to take from OpenSea’s current 75% NFT marketplace dominance. Dappradar stated “These acquisitions will most likely pit OpenSea and UniSwap in direct competition with each other in the near future“. Although OpenSea and UniSwap are well-established entities within the crypto space, they both face competition from outside the crypto industry as well. eBay recently acquired the Ethereum-based, digital art market KnownOrigin in an effort to further expand its digital product offering and capabilities in the NFT space.Related: NFT hype evidently dead as daily sales in June 2022 dip to one-year lowsOpenSea has faced increasing competition with NFT platforms emerging across various blockchains. The report stated that the company “has seen its market share diminished with the arrival of contenders like Magic Eden, LooksRare, and X2Y2.” CNBC reported in April that OpenSea had “more than 1.5 million active users.” According to current data from DappRadar, the platform added 66.03k users in the last thirty days, compared to MagicEden’s 272.97k. The same DappRadar data also shows MagicEden had 14.1M transactions in the last thirty days and OpenSea had only 955.69k. The report also stated, “This quarter Magic Eden accounts for 10% of all NFTs transactions.”In recent news, Meta signaled the closure of its Novi wallet after a 10-month pilot program. The average cost of Ethereum gas fees recently fell to the lowest they’ve been since 2020. Also in NFT news, experts have explained how music NFTs will enhance the connection between their creators and fans.

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DappRadar and LayerZero launch chain-agnostic staking token

DappRadar and LayerZero launch chain-agnostic staking token

Uverejnil používateľ | júl 1, 2022 |

DappRadar and omnichain interoperability protocol LayerZero have launched a new token to enable cross-chain staking across multiple blockchains and Ethereum Virtual Machine (EVM)-compatible networks — a move designed to minimize fees and increase access to staking opportunities.The functionality for the newly launched RADAR token is provided through a set of smart contracts, DappRadar said. One of the contracts is known as the controller and the other as a proxy. The two smart contracts work together to enable the new staking mechanism.Requests made to withdraw or claim rewards are sent to the proxy smart contract. It communicates with the controller contract to determine if the request is valid. If the request is valid, the controller informs the proxy to release the tokens. DappRadar claims this type of cross-chain staking was previously unavailable anywhere.DappRadar also provided documentation instructing users on how to take advantage of this new functionality. The instructions mention that users can “can stake [their] RADAR tokens on the Ethereum blockchain and then claim the rewards on BNB Chain.” These two chains are the first supported, with a rollout for Polygon (MATIC) expected soon.DappRadar describes itself as a decentralized application exploration platform. The RADAR overview mentions that the token will help the company broaden its coverage, pursue faster listings for emerging projects, provide more accurate listings of current projects and offer better portfolio tools. Related: GameFi continues to grow despite crypto winter: DappRadar reportDappRadar and LayerZero first announced their RADAR token in December 2021. Seven months later, the crypto market landscape has changed dramatically, with June capping off the worst quarter in 11 years. Despite the current bear market, other tokens have seen new highs up to 300%.

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