Month: June 2023

The role of blockchain in combatting fraud and revolutionizing the gaming industry

A new dawn is breaking in the gaming industry, driven by the transformative power of blockchain technology. As this industry — expected to hit $200 billion in 2023 — continues to grapple with the scourge of fraud, blockchain is emerging as a potent ally, armed with its inherent traits of decentralization, transparency and immutability. Moreover, blockchain is not merely a tool to combat fraud but also an innovation set to revolutionize the gaming experience itself. A decentralized defense against fraud Central to blockchain’s appeal is its decentralized nature. In contrast to…

Why Banks Are Setting Up Shop in the Metaverse

The metaverse can be broadly defined as a blockchain-fueled, all-encompassing virtual world that offers new human and socio-cultural experiences. It epitomizes decentralized and immersive social experiences that often involve virtual reality (VR) and augmented reality (AR), opening up an entirely new set of opportunities for social interaction. No single company or application defines the metaverse, and users can use a single, portable identity among metaverse apps. Source

HyperPlay raises $12M in Series A funding round

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On June 8, HyperPlay — a Web3-native game launcher — said it closed its Series A funding round after raising $12 million from investors, including co-leaders Griffin Gaming Partners and Bitkraft Ventures.  Other investors include MetaMask’s parent company ConsenSys, Ethereal Ventures, Delphi, Game7, Mirana Ventures and Monoceros Ventures. HyperPlay, which was established in November 2022 by MetaMask and Game7 DAO, says its platform tackles the Web3 gaming interoperability challenge “head-on,” providing interoperability for Web3 gaming, and allowing developers to work without being bound by centralized entities like Apple, Google and…

EOS turns 5, celebrates the community’s effort to rebuild

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Celebrating the 5th anniversary of the EOS Network, the team behind the protocol highlighted the importance of the community as it looked back on the many challenges it had to face to revive the scalability protocol.  After being launched in 2018, the EOS became known for its network’s performance and for conducting the largest initial coin offering (ICO) in history, with over $4 billion raised during the year-long fundraising process. Despite this, the project did not live up to the hype and expectations and encountered troubles with the United States…

Jack Dorsey-backed Nostr Creator Collaborates With Bitcoin $BTC Firm Zebedee on New Social Media Layer

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MetaMask Institutional to integrate with Fireblocks MPC platform

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Web3 wallet MetaMask will integrate with Fireblocks’ multi-party computation (MPC) platform, allowing Fireblocks users to access the wallet’s portfolio dashboard, according to a June 6 announcement. The integration will be part of the MetaMask Institutional product aimed at institutional investors. It will go live on June 12. Map of prior MetaMask Institutional custody provider integrations. Source: MetaMask MetaMask Institutional is wallet software that offers institutions a variety of features, including the ability to stake and lend crypto. It does not custody funds for institutions. Instead, it allows institutions to choose…

The creator economy is moving to Web3

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Though it is beginning to recede in memory, the bear market of 2022 dealt a major blow to public confidence in blockchain technology’s potential for practical use and mass adoption. The collapse of blockchain platform, Terra, and the dissolution of crypto hedge fund, Three Arrows Capital and global exchange, FTX, damaged the financial well-being and reputation of the entire ecosystem.  Nonetheless, during these challenging times, projects with real substance and use cases have continued to build and develop, and Web2 giants, such as Amazon and Mastercard, have been quietly establishing…

Ankr–Microsoft partnership continues with blockchain creator tool debut

On June 8, decentralized blockchain infrastructure provider Ankr announced the launch of its enterprise blockchain creator tool on Microsoft’s Azure Marketplace. Dubbed “AppChains,” the solution will enable companies to quickly launch a dedicated and customizable blockchain to power various Web3 strategies. Developers can deploy the Polygon Supernet on its first iteration, with more choices thereafter. According to Ankr, AppChains has been available for a year with use in launching application-specific blockchains to power their decentralized applications. However, Ankr’s developers said they are witnessing strong demand from institutional clients for using…

Avail Blockchain Releases Phase 2 of Kate Testnet

On the testnet, users can participate and contribute to the Avail network in multiple ways. They can acquire AVL testnet tokens to test staking and nomination functions, create modular blockchain applications or chains that publishes data to Avail, and join the testnet as validators or light clients, allowing them to verify data availability. Source link