Tag: Crypto Gaming

The Unstoppable Growth of Crypto Market

by Blockchain News

SOFTSWISS, a gambling software development company with one-stop-shop iGaming software solutions and services for online casinos or sportsbooks, on Saturday released a report that compared the state of cryptocurrency in the 1st quarter of 2021 and 2022.

Based on the results of the SOFTSWISS Game Aggregator and the SOFTSWISS Casino Platform, the company’s corporate report indicated that the global trend has witnessed the growing popularity of cryptocurrencies.

The report also showed that crypto gambling has continued to grow. According to the statistics, the sum of bets in cryptocurrencies in Q1 2022 rose by 116.7%, more than doubled compared to the same period last year.

Andrey Starovoitov, the Chief Operating Officer at SOFTSWISS, talked about the development and said: “Crypto gambling has become an independent, full-fledged, and extremely promising line of business. Brands adapted to these conditions have an advantage such as wider opportunities for operation and, accordingly, a wider audience.”

The report showed that while betting using fiat currencies still holds the leading position, with 64% of the total volume, the share of crypto is steadily rising. The share of betting using crypto coins in Q1 2022 increased to 35.9% from 26.3%, the report stated. According to the findings, in the first quarter of 2020, the share of crypto grew by 29%. The report said that if such dynamics continue, then the share of fiat and crypto in betting may become equal over the course of the next year.

However, SOFTSWISS’ report indicated that Bitcoin is decreasing its share. The startup said that although it introduced Bitcoin as its preferable cryptocurrency, the digital coin has decreased its share in Q1 2022 by 10%. This is related to the growing interest in Ethereum and Litecoin, the top altcoins, whose share has increased by 3.45% and 2.95% respectively. According to the report, the precise share of the top 3 cryptocurrencies in Q1 2022:

Bitcoin (BTC) 72.80%

Ethereum (ETC) 13.45%

Litecoin (LTH) 6.45%

“The strong growth of other altcoins demonstrates the interest in more advanced coins in terms of technology such as Ethereum. More players will prefer to diversify their funds with other cryptocurrencies. This is a positive trend related to the development of the market,” Starovoitov

The Contributions to Crypto Growth

While 2021 was a big year for cryptocurrency, 2022 is also showing positive trends. The global crypto market size was valued at $1.49 billion in 2020 and grew by 12.8% in 2021. The market is projected to continue growing in 2022.

This year, institutional and retail interest in crypto has continued to skyrocket. Thanks to long-standing investors like Elon Musk and top regulators like the Biden’s administration, which has increasingly expressed interest in new regulations for crypto.

An increase in the need for operational efficiency in financial payment systems, improved market cap, improved data security, and an increase in demand for remittances in developing countries are the major factors that drive the growth of the global crypto market.

Besides that, an increase in demand for cryptocurrency among financial institutions and banks and untapped potential in emerging economies are expected to create lucrative opportunities for market expansion in the future.

 

Image source: Shutterstock

Source

Tagged : / / /

The Unstoppable Growth of Crypto Market

by Blockchain News

SOFTSWISS, a gambling software development company with one-stop-shop iGaming software solutions and services for online casinos or sportsbooks, on Saturday released a report that compared the state of cryptocurrency in the 1st quarter of 2021 and 2022.

Based on the results of the SOFTSWISS Game Aggregator and the SOFTSWISS Casino Platform, the company’s corporate report indicated that the global trend has witnessed the growing popularity of cryptocurrencies.

The report also showed that crypto gambling has continued to grow. According to the statistics, the sum of bets in cryptocurrencies in Q1 2022 rose by 116.7%, more than doubled compared to the same period last year.

Andrey Starovoitov, the Chief Operating Officer at SOFTSWISS, talked about the development and said: “Crypto gambling has become an independent, full-fledged, and extremely promising line of business. Brands adapted to these conditions have an advantage such as wider opportunities for operation and, accordingly, a wider audience.”

The report showed that while betting using fiat currencies still holds the leading position, with 64% of the total volume, the share of crypto is steadily rising. The share of betting using crypto coins in Q1 2022 increased to 35.9% from 26.3%, the report stated. According to the findings, in the first quarter of 2020, the share of crypto grew by 29%. The report said that if such dynamics continue, then the share of fiat and crypto in betting may become equal over the course of the next year.

However, SOFTSWISS’ report indicated that Bitcoin is decreasing its share. The startup said that although it introduced Bitcoin as its preferable cryptocurrency, the digital coin has decreased its share in Q1 2022 by 10%. This is related to the growing interest in Ethereum and Litecoin, the top altcoins, whose share has increased by 3.45% and 2.95% respectively. According to the report, the precise share of the top 3 cryptocurrencies in Q1 2022:

Bitcoin (BTC) 72.80%

Ethereum (ETC) 13.45%

Litecoin (LTH) 6.45%

“The strong growth of other altcoins demonstrates the interest in more advanced coins in terms of technology such as Ethereum. More players will prefer to diversify their funds with other cryptocurrencies. This is a positive trend related to the development of the market,” Starovoitov

The Contributions to Crypto Growth

While 2021 was a big year for cryptocurrency, 2022 is also showing positive trends. The global crypto market size was valued at $1.49 billion in 2020 and grew by 12.8% in 2021. The market is projected to continue growing in 2022.

This year, institutional and retail interest in crypto has continued to skyrocket. Thanks to long-standing investors like Elon Musk and top regulators like the Biden’s administration, which has increasingly expressed interest in new regulations for crypto.

An increase in the need for operational efficiency in financial payment systems, improved market cap, improved data security, and an increase in demand for remittances in developing countries are the major factors that drive the growth of the global crypto market.

Besides that, an increase in demand for cryptocurrency among financial institutions and banks and untapped potential in emerging economies are expected to create lucrative opportunities for market expansion in the future.

 

Image source: Shutterstock

Source

Tagged : / / /

This Ethereum-Based Gaming Altcoin Is Ready for Massive Rally, Predicts Coin Bureau

by Dailyhodl

The pseudonymous host of crypto YouTube channel Coin Bureau says one Ethereum-based gaming altcoin is primed to surge in the coming weeks.

In a new video, the analyst known as Guy tells his 1.62 million YouTube subscribers that The Sandbox (SAND) could become the biggest gaming cryptocurrency on the market.

SAND is the native token for The Sandbox, an Ethereum-based virtual world that allows fans of video games to build, own and monetize their gaming experiences. SAND is the 63rd-ranked crypto asset by market cap, trading at $3.36 at time of writing, up more than 33% in the past seven days.

Guy still thinks the gaming altcoin has room to grow.

“SAND seems to be pretty overextended, but it’s not crashing nearly as quickly as I expected. In fact, it looks like its uptrend is scheduled to continue.

This is for a few reasons: First, NFTs. As I mentioned a few moments ago, NFTs from the Sandbox are some of the most traded of any NFT collection. Many of these purchases are being made in SAND, which creates demand.”

The pseudonymous analyst also notes that SAND’s mid-sized market cap means it will take less cash to push up the price relative to larger metaverse cryptos such as Axie Infinity’s AXS.

Guy also argues that SAND’s tokenomics are “robust.”

“SAND has a maximum supply of 3 billion, its initial and current distribution is solid, and its vesting schedule is evenly spread out.

Now that said, it’s worth pointing out that we are approaching another vesting cliff that’s set to begin in December. This will see another 300 million SAND unlocked and potentially sold on the open market. The last vesting cliff happened back in July and it seems to have suppressed the price of SAND around that time. This means we could see the same thing happen again come December 1st.

Now, even so, SAND’s technicals are looking good, and that’s the fourth reason why it might continue moving to the upside. If my measurements are correct, we could see SAND rally by 2x in the coming weeks, assuming the rest of the crypto market doesn’t crash, of course.”

[embedded content]

I

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/vectorpouch/monkographic

Source

Tagged : / / / / / /

Nifty news: Polyient marketplace, Ronaldinho drop, and a ‘staggering’ $4800 NFT sale …

by Cointelegraph

Investment firm and development studio Polyient has unveiled an NFT marketplace with decentralized finance (DeFi) functionality.

The marketplace dubbed “PolyientX” is set for a beta release in August on Ethereum, with an official launch targeted for sometime in the Fall. The initial launch will feature NFTs from Ape In, a DeFi-enabled NFT collectibles game, and Rate Network, a decentralized NFT pricing, and rating protocol.

According to Polyient, users can stake their NFTs in a vault to earn rewards, describing it as “a unique fee share mechanism where users, not corporate stakeholders, are the beneficiaries of transaction activity on the platform.”

There’s also a new token launch method dubbed the “Initial Vault Sale” (IVS), which enables projects to leverage their supporters’ NFT assets “to mint and distribute utility and governance tokens, reward marketplace participation and build sustainable economies.”

Blockchain-based Ronaldinho

Global soccer icon Ronaldinho is launching a new NFT collection in collaboration with creative studio INFLUXO.

The former Paris Saint-Germain, F.C Barcelona and AC Milan star joins a long list of star athletes to enter the NFT sector such as boxer Tyson Fury, NFL players Rob Gronkowski and Patrick Mahomes, and skateboarding icon Tony Hawk.

The NFTs are being sold in two different drops, the first drop features seven unique “masterpiece” NFTs that depict vivid paintings of key moments in Ronaldinho’s career.

The auctions will take minimum increment bids of $10,000, and the NFTs come with a private meetup and dinner with Ronaldinho in Dubai, a roundtrip ticket to get you there and a two-day stay at a five-star hotel. It is unclear if Ronaldinho will be cooking up a storm, or if the dinner will be at a restaurant.

The second drop of “sports legend card NFTs” includes a set of six collector cards which users can purchase for an unspecified price. They will be airdropped an additional card NFT that accompanies the series, and if they collect all six NFTs plus the airdropped token, they will be entered into a sweepstake for a chance to win the “Dubai experience” from the masterpiece NFTs.

The sale is being hosted on INFLUXO and the NFT drop date reads “coming soon.”

Animoca Brands acquires blowfish

Top NFT game and property developer Animoca Brands (F1 Delta Time, The Sandbox) has acquired Blowfish Studios, an indie game developer for around $6.6 million. The acquisition also includes payments of around $19.2 million on conditional employment and performance targets.

Animoca made the announcement on July 29, and noted that it will be working closely with Blowfish to “align efforts relating to blockchain integration, fungible tokens, non-fungible tokens (NFTs), play-to-earn capabilities, synergy opportunities, and product launches.”

Blowfish is a Sydney-based firm founded in 2010 by Benjamin Lee, a veteran of the computer software and 3D graphics industry, and Aaron Grove, an award-winning visual effects supervisor.

The firm has published several multi-platform games such as “Qbism, Siegecraft, Morphite, Projection: First Light, and Storm Boy.”

“Animoca Brands is incredibly thrilled to welcome Blowfish, a team that significantly expands our capacity in the cross-platform games space and that has a strong interest in and understanding of blockchain,” said Yat Siu, the co-founder and chairman of Animoca Brands.

Vitalik signs up for Mark Cuban-backed NFT platform

NFT platform “AlchemyNFT” announced a $6 million funding round on July 29. It was backed by Crypto.com Capital, Framework Ventures, Mechanism and billionaire entrepreneur (and DeFi rug-pull victim) Mark Cuban.

The funds will go towards a new project dubbed “AutographNFT” that enables the signing of unique digital assets such as NFTs with social network IDs. According to the firm Ethereum’s Vitalik Buterin was one of the first to digitally sign his autograph at the project’s beta launch.

The Alchemist NFT: autographnft.io

The AutographNFT platform enables NFT creators to seek out popular “Twitter-verified” figures and offer them money to autograph an NFT. The platform gives the signer the option to donate all or some of their “signing” proceeds to a charity such as “Save the Kids.”

According to the listing of “The Alchemist” NFT, Buterin was paid 0.1 ETH, worth around $243, to sign the NFT.

Related: NFT-based game Splinterlands raises $3.6M via private token sale

Publicist claims NFT sale of $4800 is a ‘staggering’ sum

Public relations media releases are often full of hyperbolic jargon and puffery that paints an all too pretty picture.

But we had to laugh at a July 28 PR announcement from Kinahan’s Whiskey Co. in which the sale of an NFT for $4800 was described as a “staggering” amount of money.

“The Kinahan’s branded 3D Formula Racing Car sold to an NFT collector for a staggering $4800 following Lewis Hamilton’s thrilling win at the British Grand Prix,” the announcement breathlessly said.

While this may be exciting news for the Irish Whiskey firm, they may not realize that NFTs of questionable value have sold for much higher prices. Cointelegraph reported in February that Lindsay Lohan sold an NFT for an even more earth-shattering $15,000 on Rarible. And there were rumors some guy called Beeple or Bongo or something flogged an NFT for $69 million.

“This NFT is the first of its kind in the whiskey industry. Notice that precious word, ‘first’. There are many models of a McLaren, but if you own the first one, you own a piece of history,” the announcement read.

Roundup

Cointelegraph reported on July 28 that multinational beverage giant Coca-Cola is entering the NFT market.

The firm will hold a three-day auction on OpenSea for NFTs depicting the famous beverage, and the proceeds will be used to raise money for Special Olympics International.

Earlier this week, tokenized cats once again caused chaos on the Ethereum network after a nonfungible token (NFT) project dubbed “Stoner Cats” created by actress Mila Kunis sold out in 35 minutes.

The project’s first drop had a total of 10,420 NFTs, and activity on Ethereum sent gas prices as high as 709 Gwei ($33.67) for a rapid transaction.