UAE and OKX Unveil Framework for Metaverse Self-Governance

The UAE’s Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications Office has published a whitepaper on a “Responsible Metaverse Self-Governance Framework” with contributions from OKX, a notable player in the Web3 technology domain. This initiative is an answer to the burgeoning influence of the metaverse across diverse sectors and the consequential demand for a standardized operational paradigm.

The report, orchestrated by Minister Omar Sultan Al Olama alongside the Dubai Department of Economy and Tourism, emphasizes the metaverse’s expansive potential and the necessity for a global consensus on its operational norms as it becomes more ingrained in our daily routines. The metaverse’s ripple effects are discernible across a plethora of sectors including manufacturing, healthcare, tourism, retail, and education. Although the potential is extensive, the absence of clear operational standards, unified regulations, or a global code of conduct presents a significant challenge in this nascent ecosystem.

A core assertion of the whitepaper is the vital need for international cooperation to formulate self-regulatory principles that advocate for transparent, safe, and ethical operation within the metaverse. By encouraging synergy among governments, industries, and civil societies, a unified framework can be molded to guarantee the metaverse’s sustainable expansion while cementing its stance in the global digital economy. The “Responsible Metaverse Self-Governance Framework” is open for public review, available in both English and Arabic languages.

According to an official report titled “Dubai Metaverse Strategy”, the Dubai Metaverse Strategy envisioned propelling Dubai into the ranks of the top 10 global metaverse economies, bolstering its existing foundation of over 1,000 blockchain and metaverse-oriented companies. Through fostering innovation and R&D collaborations, the strategy aims to magnify the economic footprint of the metaverse, while promoting advanced ecosystems via accelerators and incubators. Additionally, it emphasizes nurturing talent and investing in future capabilities by extending support in metaverse education for developers, content creators, and digital platform users within the metaverse community.

Emphasizing the development of Web3 technology, the strategy outlines the creation of new governmental work models and sectoral advancements, notably in tourism, education, retail, remote work, healthcare, and the legal sphere. A significant part of the strategy is dedicated to setting global standards for building safe, secure platforms, and hastening the adoption of metaverse technologies by crafting requisite infrastructure and regulations. Underpinned by technology pillars like data, network, cloud, and edge computing, the strategy also underscores the importance of leveraging real-time data, machine learning, IoT, AI simulation, and blockchain to augment human cognitive processes, all while aiming to support over 40,000 virtual jobs by 2030 as part of a broader UAE governmental vision.

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Metacade’s Highly Anticipated MEXC Listing Confirmed For 4th May

London, United Kingdom, May 3rd, 2023, Chainwire

Metacade, the exciting new play-to-earn GameFi platform, continues its ascent as one of the most promising prospects in the space after announcing their listing date for MEXC Exchange at 09:00 UTC on the 4th May.

MEXC is one of the go-to platforms for new traders and experienced investors, with the latest listing coming as welcome news to Metacade backers. The platform currently ranks at 15th largest in the world for trading volume, with the last 24 hours having seen over $1.1 billion volume in trades. With over 6 million users in 200 countries, the decision to list on MEXC seems well calculated. This bodes well for the 9,000+ holders currently invested in MCADE.

Russell Bennett, CEO of Metacade, said, “I’m delighted that we’re listing on such an established and well-renowned platform like MEXC. The confidence that we’re getting from the industry is hugely motivating and fuels our desire to create something like never before. This is our largest listing yet by some miles, and there will be more big things coming soon!”

The MEXC listing follows other big listings on both Uniswap and BitMart in April. At the time of issuing this statement, Metacade is $0.04139 according to CMC, which is 195% above the average presale purchase price.

The confidence in Metacade has strong foundations; Metacade received a perfect 99/99 score on the decentralized cryptocurrency market analysis platform, DEX Tools, making it one of the more trustworthy and secure cryptos available.

Sentiment was further enforced with Metacade’s news that it is on track to deliver Metacade Lite in May, which will offer users the first experience of the app UX, with a selection of both Web2 and Web3 games. 

With Metacade being listed on MEXC, Bennett is optimistic about the future. “This is another step in the right direction and I’m sure this will have a positive impact on Metacade as it solidifies our position in the market and our reputation as one of the most exciting and promising projects in the space.”

About Metacade

Metacade is the premier destination for gaming in the metaverse. As Web3’s first community arcade that allows gamers to hang out, share gaming knowledge and play exclusive P2E games. The platform offers users multiple ways to generate income, build careers in Web3 and connect with the broader gaming community.

Metacade will be the one-stop destination for users to play, earn and network with other passionate gamers worldwide. Once the project reaches the end of its roadmap, Metacade will be handed over to the community as a full-fledged decentralized autonomous organization (DAO), evidencing its commitment to people-led gaming.

Website | Whitepaper | Socials

Contact

CEO
Russell Bennett
Metacade
pr@metacade.co

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Donald Trump’s NFT Trading Card Collection

In recent days, there has been a significant uptick in the daily sales volume of nonfungible token (NFT) trading cards belonging to the former President of the United States, Donald Trump.

According to market analytics aggregator Cryptoslam, sales volumes on January 18 and January 19 saw surges of 800% and 600% respectively when compared to sales volumes on January 17.

Following reports that the former president was seeking to rejoin Facebook and Twitter in advance of the 2024 presidential election campaign, some experts believe that the rekindled interest could be due to his imminent return to social media networks. This speculation comes after it was reported that the former president was seeking to rejoin these networks.

On December 15th, a collection of 45,000 self-themed trading cards was released, and the price of each card was originally set at $99 USD.

Customers who purchased the collection were instantly placed into a sweepstakes with “thousands of prizes,” some of which included one-on-one meals, zoom calls, and games of golf with the previous President.

They sold out very rapidly and achieved daily sales volumes of more than $3.5 million, but after that, their sales volume sank to a baseline of around $26,000 by the end of 2022.

Yuga Labs, the company that created Bored Ape Yacht Club (BAYC), has blocked the secondary trade of its “Sewer Pass” non-fungible tokens on markets that do not provide full support for creator royalties.

It is possible to mint the Sewer Pass, which serves as an admission pass to its new skill-based non-flip-to-win game called Dookey Dash, but only for those who are members of the Bored Ape Yacht Club or the Mutant Ape Yacht Club.

According to the statistics provided by NFT Price Floor, The Sewer Pass has had a large amount of transactions on secondary markets, with a floor price of 1.81 ETH (which is equivalent to $2,809) and sales volumes of 15,627 ETH (which is equivalent to $24,267,411).

Secondary sales of the collection have already brought in more than $1.2 million in income for Yuga Labs, which is based on a 5% creator royalty charge for the collection.

According to the announcement, “Neopets Metaverse” will be a play-and-earn virtual pet game based on the original, and it would enable users to “grow, care for, personalise, and combat with their Neopets” on the blockchain. The game will be based on the original “Neopets.”

Neopets was established in 1999, and its parent business has high hopes that its newest product, Neopets Metaverse, would reintroduce “the magic of Neopets in a wonderfully fresh light to old-time gamers, as well as recruiting and fostering a new generation of Neopians.”

The news has been received with a lacklustre reaction from the community, with some members speculating that the community’s earlier attempt to create a Neopets metaverse was unsuccessful.

Researchers at the National University of Singapore (NUS) have developed a pair of haptic gloves that they hope will allow users to experience the feeling of touch in the metaverse.

The HaptGlove is an untethered and lightweight glove that will enable users of the metaverse to interact with virtual items in a manner that is much more realistic by communicating a sense of touch and grip. The innovation was developed by HaptLabs.

When users put on the HaptGlove, they are able to sense when their virtual avatar’s hand touches something, as well as tell how hard the object is and what shape it is. This is made possible by the HaptGlove restricting the user’s finger positions, which enables users to sense when their virtual avatar’s hand touches something.

According to NUS, the HaptGlove will also be valuable in other fields, such as education and medicine, since it will enable surgeons to practise their procedures in a “hyper-realistic environment” and will provide students with the opportunity to gain practical knowledge via hands-on practise.

Although the idea of haptic gloves is not new, as for example, Meta is now working on their own version of them, NUS say that theirs is capable of providing users with a far more realistic feeling of touch in comparison to other haptic gloves that are already on the market.

It has been suggested by those working on metaverse games that because virtual reality is such an immature technology, it is difficult to incorporate it into metaverse products. As a result, games like The Sandbox and Decentraland have not yet fully incorporated virtual reality clients into their gameplay.

Rarible, a marketplace for NFTs, made the announcement on January 18 that it was going to extend its marketplace builder to accommodate Polygon-based NFT collections.

The cryptocurrency exchange Binance made an announcement on January 19 that it would be tightening its rules for NFT listings. As part of the new regulations, the exchange will require sellers to complete Know Your Customer (KYC) verification and have at least two followers before they can list their NFTs on the platform.

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Metacade Presale Passes $2 Million – Only $690k Remaining Before It Sells Out

London, United Kingdom, 10th January, 2023, Chainwire

Metacade has exceeded expectations as investors flocked to its presale to purchase MCADE tokens, raising over $2 million for the GameFi project.

The beta stage of the presale saw $1 million pour in over a matter of weeks and momentum has continued despite the 25% increase in token price. There is now only $690k remaining of the token at $0.01 before the price rises 20% in the next round.

$MCADE is available to buy on the official Metacade website.

Metacade is the world’s first community-run play-to-earn (P2E) arcade built on blockchain. The Ethereum-backed metaverse project will offer a thriving GameFi hub for gamers and crypto enthusiasts alike. It will be a place to earn, learn and connect with like-minded individuals while playing some of the hottest P2E games that GameFi space has to offer. 

Built to last, the Metacade roadmap showcases the project’s ambition and longevity. Beyond its stellar blockchain game offering, the platform will host leaderboards, trending games, GameFi alpha, and much more to keep the community engaged. To further show its support to the gaming community the platform will launch a jobs board to help people new roles in Web3 and a Metagrants initiative to support game developers keen to build on the platform. 

MCADE, the platform’s native token, will power activity and transactions on Metacade. Players will use it to access pay-to-play games and be rewarded for their gaming efforts in MCADE. There will be further earning opportunities through competitions and tournaments, sharing gaming alpha, and writing reviews. Staking will also be an option for MCADE holders wanting to top up their income. 

MCADE has a fixed token supply of 2 billion tokens, with seventy percent of these being made available during the presale. The other thirty percent of these tokens have been reserved for development, liquidity provisions, competition pool funding, and exchange listings. 

MCADE will soon be listed on Bitmart, one of the world’s largest cryptocurrency exchanges, which is ranked 21st in the CoinMarketCap exchange rankings. Metacade signed the terms with the Singapore-based digital asset exchange in December 2022 and shared the news on its Twitter account. This is just the beginning for the MCADE token as the team has revealed they are in talks with other crypto exchanges and have a top 10 exchange listing announcement coming soon. 

Head of Product for Metacade Russell Bennett said: “The Bitmart listing will give millions of people easy access to the MCADE token in a secure and safe trading environment. The public listing will propel awareness of Metacade and help the project gain further traction and following. With another popular exchange announcement soon to be revealed, we’re thrilled by the spectacular welcome Metacade has received from the GameFi space.”

The P2E GameFi platform has the stamp of approval from leading blockchain auditing firm Certik. Metacade joins the ranks among Polygon, ApeCoin, and BNB Chain as a trusted platform in the crypto space. Certik employs cutting-edge technology and mathematics to analyze and evaluate the specification and code of blockchain projects. The auditors also carried out a full KYC of the Metacade team to ensure they are genuine and provide further transparency of the project. The full audit results are available on the Certik website.   

The Metacade presale has now sold over $2 million worth of tokens in under 7 weeks and at the time of publishing has under 25% remaining. 

About Metacade
Metacade  is the premier destination for gaming in the metaverse. As Web3’s first community arcade that allows gamers to hang out, share gaming knowledge and play exclusive P2E games. The platform offers users multiple ways to generate income, build careers in Web3, and connect with the wider gaming community. 

Leading investing site Invezz has called Metacade: “A place where GameFi and the Metaverse intersect, with the potential to be one of the biggest names in its space, and potentially the industry overall”.

Metacade will be the one-stop destination for users to play, earn, and network with other passionate gamers worldwide. Once the project reaches the end of its roadmap, Metacade will be handed over to the community as a full-fledged DAO. After all, Metacade wants you to have a hand in shaping the GameFi world of tomorrow.

Links
Website | Whitepaper | Socials | CertiK Audit

Contact

Head of Product
Russell Bennett
Metacade
pr@metacade.co

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Metaverse Will Bring About the “Construction of New Economies” – Animoca CEO

Yat Siu, the Co-Founder and Chief Executive Officer of Animoca Brands has shared his thoughts on what he believes the metaverse is metamorphosing into in the near future. 

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Speaking at the Future Blockchain Summit, the veteran industry leader noted that the metaverse is not a central entity and is bound to stir the advent of new economies that will benefit its adopters.

In the explanation for his position about the highly talked-about marketplace, Siu said industries cannot be quantities based on a single metric, and that the collective performance of key offshoots of the ecosystem often comes together to make a whole.

“Metaverse to us is a whole economy. We don’t want to measure the future of these companies using PNL, we want to measure it in terms of GDP. Just like we can’t define Ethereum’s value by how much gas it generates but rather its utility as a whole, in the same way, the metaverse is an all-accomplishing picture. So, thematically, it’s a metaverse; but practically, itu2019s digital ownership.”

Siu faults the usurping role big tech companies like Google and Facebook have played in the evolution of the gaming industry thus far. According to him, the bigger portion of the more than $200 billion industry is controlled by big tech with little going to the game developers and almost nothing to players.

Per the model of Web3.0, Siu believes this anomaly will be corrected, creating an economy whereby everyone will be fairly compensated for their participation in the ecosystem.

“More than half of the value that is generated in the gaming industry goes to Apple, Facebook and Google. How much of that goes back to the gaming industry? Zero. This is the issue today, and it makes the ecosystem unhealthy.”

Yat Siu, whose company owns The Sandbox metaverse and has invested in hundreds of gaming protocols believes GameFi is one of the contending avenues by which users will be onboarded into the Web3.0 industry.

Image source: Shutterstock

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Bybit-Backed Gaming Platform Enters the Web3 World for Enhanced Experience

Yeeha Games, a $50 million-funded GameFi platform backed by crypto exchange Bybit, has entered the Web3 world to act as the bridge between gaming and finance (GameFi) and traditional gaming.

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Yeeha Games renders an ecosystem where users can exchange in-game assets. Therefore, the platform intends to present various blockchain games over the next eighteen months for an enhanced Web3 experience. 

 

Choy Wai Cheong (Choy), the co-founder and COO of Yeeha Games, pointed out:

“The GameFi industry saw incredible growth in 2021. But when compared to the traditional gaming market, we still see a massive untapped potential. To attract traditional gamers to web3, we must have games that appeal to them.” 

“Integrating blockchain elements into game genres with proven success in the traditional gaming market is a good starting point — and that’s where Yeeha Games is positioned,” Cheong added. 

 

The free-to-play games offered by Yeeha Games act as a stepping stone toward Web3 gaming because users are not required to purchase cryptocurrencies.

Ben Zhou, the co-founder, and CEO of Bybit, stated:

“We are excited about the future of GameFi, and how it could realize the promise of the metaverse and internet through gaming. Through this partnership, we want to demonstrate our commitment to driving technology innovations to the wider society.”

By generating a level playing field, Zhou believes GameFi has the capability of connecting people worldwide when building virtual and digital worlds. He added:

“It promotes the ideology of putting power back in the hands of the people with a player-owned economy.”

Meanwhile, InfiniteWorld, a metaverse, and Web3 infrastructure company, recently acquired Super Bit Machine to enhance the crossover between gaming and blockchain platforms. 

 

The acquisition was also aimed at offering best-in-class experiences in the metaverse world by incorporating multiplayer and real-time game development abilities, Blockchain.News reported. 

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GameFi Industry Expected to Reach $2.8B by 2028

The growth and adoption of the crypto GameFi business are expected to make the game-earning non-fungible token (NFT) gaming industry reach $2.8 billion by 2028, according to Absolute Reports, a company that provides market research services.

The report shows that while the cryptocurrency market is going through a “crypto winter,” WAX and Binance Smart Chain have stable community numbers with 2.94 million and 2.49 million customers, respectively.

The rise in popularity of playable and earnable non-fungible token (NFT) games on the Ethereum sidechain is a significant boost as blockchain gaming provides users with a simple, accessible and engaging way to An important factor in the growth of blockchain gaming.

The GameFi market is analysed based on type, console, and market region. The report also delves into a detailed analysis of the market-leading companies, including Sky Mavis, Dapper Labs, Decentraland, Immutable, and The Sandbox.

The report further revealed that blockchain gaming attracted 1.22 million active user wallets (UAWs) in March this year.

DappRadar’s research shows that blockchain gaming leads the way in decentralised applications, accounting for 52% of blockchain activity.

The data shows that VCs’ interest in investing in gamefi startups during the downturn has been increasing.

In early July, Blockchain gamefi Land of Conquest received investment from venture capital firm Huobi Ventures, who also signed as the lead investor in the game.

Blockchain game “Cross the Ages” (CTA) has received a $12 million seed round from gaming crypto investment firm Animoca Brands, video game developer Ubisoft, and Sebastian Borget, co-founder and COO of The Sandbox.

Play-to-earn (P2E), or GameFi, is the next major opportunity for Web3 and blockchain.

P2E is a popular business model that stays in the blockchain game world that integrates both Web3 and blockchain, which corresponds to the F2P (Free to Play) model common in the real world of the game industry.

The intense crypto bear market, which has fueled a significant increase in the number of customers for blockchain-based games, is considered a springboard for further growth in the crypto ATM market.

Another study projected the crypto ATM market to grow at a compound annual growth rate (CAGR) of 20.4% over the forecast period, six years from 2022 to 2028. 

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KuCoin Rolls Out Decentralized Crypto Wallet to Aid Web3.0 Exploration

As the gateway to explore and discover the Web3.0 world, KuCoin, a Seychelles-based crypto exchange, has rolled out a decentralized product dubbed KuCoin Wallet.

KuCoin Wallet offer crypto services to users with GameFi, decentralized finance (DeFi), and non-fungible tokens (NFTs) functions for a convenient experience in the Web3.0 space. 

Johnny Lyu, KuCoin’s CEO, explained:

“As the gateway to the Web 3.0 network, crypto wallets are an important requirement for users to participate in the decentralized ecosystem and have developed beyond a mere tool to store digital assets. The launch of the official website of KuCoin Wallet is additional proof that shows the determination of KuCoin to enter the Web 3.0 field at a critical time.”

The exchange sees the wallet as a stepping stone towards more investments in the Web3.0 sector.

Jeff Haul, the head of KuCoin Wallet, noted:

“KuCoin always hopes to better cater to the needs of all classes of investors. The release of the official website of KuCoin Wallet is one step further for KuCoin to make an exploration in Web 3.0.”

KuCoin said its wallet supports multi-chain aggregation powered by the KuCoin ecosystem. It allows users to create a decentralized account for Web 3.0 in seconds and send, receive, and store BTC, ETH, USDT, USDC, BNB, and more tokens in one place, according to its statement.

In April, KuCoin launched a $100 million “Creators Fund” to accelerate Web3.0 growth and empower early-stage NFT projects, Blockchain.News reported.

With Web3.0 being a blockchain-powered iteration of the World Wide Web, concepts like token-based economics and decentralization are expected to be integrated. As a result, users will have full control over their data.

Recently, Andreessen Horowitz (a16z), a renowned Venture Capital (VC) firm, recently noted that Web3.0 was much better for creators than Web2.0.

Image source: Shutterstock

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KuCoin Rolls Out Decentralized Crypto Wallet to Aid Web3.0 Exploration

As the gateway to explore and discover the Web3.0 world, KuCoin, a Seychelles-based crypto exchange, has rolled out a decentralized product dubbed KuCoin Wallet.

KuCoin Wallet offer crypto services to users with GameFi, decentralized finance (DeFi), and non-fungible tokens (NFTs) functions for a convenient experience in the Web3.0 space. 

Johnny Lyu, KuCoin’s CEO, explained:

“As the gateway to the Web 3.0 network, crypto wallets are an important requirement for users to participate in the decentralized ecosystem and have developed beyond a mere tool to store digital assets. The launch of the official website of KuCoin Wallet is additional proof that shows the determination of KuCoin to enter the Web 3.0 field at a critical time.”

The exchange sees the wallet as a stepping stone towards more investments in the Web3.0 sector.

Jeff Haul, the head of KuCoin Wallet, noted:

“KuCoin always hopes to better cater to the needs of all classes of investors. The release of the official website of KuCoin Wallet is one step further for KuCoin to make an exploration in Web 3.0.”

KuCoin said its wallet supports multi-chain aggregation powered by the KuCoin ecosystem. It allows users to create a decentralized account for Web 3.0 in seconds and send, receive, and store BTC, ETH, USDT, USDC, BNB, and more tokens in one place, according to its statement.

In April, KuCoin launched a $100 million “Creators Fund” to accelerate Web3.0 growth and empower early-stage NFT projects, Blockchain.News reported.

With Web3.0 being a blockchain-powered iteration of the World Wide Web, concepts like token-based economics and decentralization are expected to be integrated. As a result, users will have full control over their data.

Recently, Andreessen Horowitz (a16z), a renowned Venture Capital (VC) firm, recently noted that Web3.0 was much better for creators than Web2.0.

Image source: Shutterstock

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