NFT News by Thebittimes.Com

The cryptocurrency market recently experienced a downturn, with significant declines in gaming token s as Bitcoin’s value approached $40,000. The cryptocurrency market declined on Monday, notably impacting gaming token s. As Bitcoin (BTC) approached the $40,000 mark, gaming token s experienced larger drops, according to CoinGecko. Immutable’s IMX token decreased by 8% to $1.80, as Beam (BEAM) and Gala Games (GALA) saw around a 7% decline. Axie Infinity’s AXS governance token fell over 6%, and its in-game SLP reward token dropped by 7%. The only token not experiencing a dip is Ronin (RON), which has increased by 34% in the past week, reaching a price of $2.32, and is now among the top 100 cryptocurrencies. It peaked at $2.52 on Sunday, marking its highest value since February 2022. You might also like: ProShares Bitcoin ETF trading declined over 70% since spot Bitcoin ETF launch These market movements within gaming token s reflect broader trends in...

SoftBank-backed metaverse firm Improbable has sold one of its major gaming venture s to an Irish video game developer. According to a CNBC report, Improbable sold its multiplayer games developer The Multiplayer Group (MPG) for $97.1 million to Keywords Studios, an Irish video game industry services company. While this transaction aligns with Improbable’s broader venture builder strategy, analysts have raised concerns about the company’s ability to effectively commercialize its technology, citing perceived technical limitations and high associated costs. In a commentary to CNBC, Greg Martin, co-founder and managing director of Rainmaker Securities, a private market trading firm, noted that Improbable’s business model remains uncertain, saying “the jury is still out if they have a viable business model going forward.” You might also like: Metaverse firm, Improbable, changes tact after slashing losses by 85% However, Improbable’s CEO, He...

Does your RNG have sufficient randomness? Is it secure against tampering? Is it decentralized? These qualities are critical to building a viable metaverse. Quantum mechanics tells us that what looks like a highly predictable and orderly universe is built on a world of unpredictability and mere probability. While the quantum world looks bizarre, it can be understood and even harnessed for technology like semiconductors, LEDs, and quantum cryptography. Something similar can be said about randomness in the metaverse. What looks like a system built on random values produced by random number generators (RNGs) is, in fact, based on programs with a method behind them that can be understood — for good or ill. The pivotal role of random numbers Random numbers are of great importance in a number of applications, including games, security systems, decentralized autonomous organization (DAO) governance, and nonfungible token (NFT) generation. If your game cannot access randomly generated numbers,...

Data NFTs can revolutionize the data brokerage industry by offering transparency, control and monetization possibilities for users. ABCDEFG Reshaping the way data brokerage works The data brokerage industry, which thrives on the buying and selling of user data, has grown into a multi-billion-dollar market that’s projected to reach over $462 billion by 2031. Data brokers act as intermediaries, selling personal information they collected from various sources to third parties. But the lack of transparency in the industry leaves users in the dark about what data is being collected, how it is used and who profits from it. Due to the proliferation of Web3-native technologies, internet users can tackle legacy issues about how they interact with the digital world, such as the ownership of personal data. In the Web2 world, individual data ownership rights stand as a gray area from a legal perspective. However, the Web3 era brings a new approach to the way personal data is handled by introducin...

A new survival MMORPG PvP enables players to set up shop within the game and become a core part of the blockchain economy. The concept of the metaverse was conceived with the aim of providing humanity with a better life in the digital world. Today, video games are leading the way as the most active bridge for physical and digital world interactions. The same goes for blockchain-based games, as gamers who have tasted true ownership of digital assets flocked to Web3 games. Data shows that over half of active blockchain wallets were used in the GameFi space in 2022. As the blockchain gaming market gets crowded, players start to expect more from  play-to-earn (P2E) games. Users put game improvements as the top expectation for blockchain gaming in 2023. However, having a good game is not enough for gamers, either — another study showed that over 51% of users participate in GameFi to make profits. As a result, poorly designed game economies became the leading factor affecting GameFi profits...

NFT gaming goes to space in the upcoming Tachyon Domination. In the rapidly expanding world of NFT gaming, new projects are racing to redefine what can be done both within the games themselves and in the broader economic ecosystem in which these games exist. One new project, Tachyon Domination, has moved the arena to space, inviting users to compete with each other for galactic supremacy while offering numerous opportunities to earn on their efforts. Tachyon Domination has taken a somewhat unusual approach to blockchain gaming. Rather than requiring players to purchase access to the game via NFTs or tokens, the game is free-to-play. Players are transported some 300 years into the future when scientists have discovered a new, remarkably powerful metal that allows people to travel faster than light speed. The game is an RPG where players choose their character type and what kind of weapons they will use and then compete for rewards issued in the game’s native $TADT governance token. We ...

Celebrities are facing huge losses on their Bored Apes bought during the NFT peak, but big names like Sony and Adidas are pushing further into the industry. Celebrities facing huge losses from BAYC NFTs The hype behind the Bored Ape Yacht Club (BAYC) over the last year resulted in many celebrities investing in the Ethereum-based nonfungible token (NFT) collection, with many such as singer Justin Bieber paying top dollar. Bieber paid 500 Ether (ETH) for BAYC #3001 on Jan. 29, which at the time was valued at around $1.28 million, while the current top offer on the NFT cracks just over $69,500. According to data from NFT Price Floor, the floor price for the collection has fallen considerably since it peaked at 144.9 ETH on May 1 this year, which at the time was worth around $396,760, to a current low of 48 ETH, valued at $58,589 at the time of writing. Many other celebs also rode the wave of hype that saw the Yuga Labs made NFTs become a “blue chip” collection, such as entrepreneur Gary ...

The play to earn gaming industry has taken a large hit over the course of the bear market, with industry titans such as AXIE and SAND having taken a large hit. However, there are many who believe that the world of play to earn gaming is now making a comeback with the rise of the play to earn gaming sensation Calvaria: Duels of Eternity.  Calvaria is a play to earn game built for the masses One of the reasons that many play to earn games struggled to gain traction during the last bull market, and why many have flailed during the bear market, has been the lack of focus on building a gaming ecosystem that is designed with the masses in mind.  Calvaria is primarily a battle card game that involves the native token and NFTs, allowing players to wage war against one another in order to earn rewards.  The Calvaria DAO  The Calvaria DAO is one of the main selling points of the project, in that the team has a strong focus on ensuring the ecosystem is...

Ava Labs has partnered with BLDR to launch its first Web3 game. Notably, the former is the software company providing support to the Avalanche blockchain and its ecosystem. The latter, on the other hand, is a subsidiary of Japanese gaming house and internet media company GREE. On its part, GREE has been making high-engagement Web2 games, that include the development of a host of popular games, including Naruto and multiple mobile versions of Final Fantasy. Avalanche ’s developer Ava Labs will, notably, help “spur” BLRD’s growth into blockchain gaming . It’ll do so by “ providing technical , marketing, business, and ecosystem support .” The official statement noted that with the latest partnership, “ BLRD plans to make a broad entry into Web3 gaming, including game development and distribution on Avalanche, NFTs, running validators, and investing in third-party games. “ The new Web3 game is set to launch next year. Comment...