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calibraint · 2 days ago

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Top 10 NFT Development Companies

The emergence of blockchain technology has ignited a wave of innovation, reshaping industries across the globe. Among its most revolutionary outcomes are cryptocurrencies and non-fungible tokens (NFTs), which have opened exciting new possibilities for the digital art world and are seen as a key element in the future of the digital economy.

But what are NFTs exactly? Non-fungible tokens are unique digital assets based on blockchain technology, setting them apart from traditional currencies that can be exchanged one-for-one. Like physical art, NFTs allow for ownership to transfer from one person to another, enabling individuals to buy, sell, and trade digital art on prominent NFT marketplaces—sometimes for substantial profits. Artists are also benefiting, with figures such as Beeple making headlines after selling an NFT artwork for $29 million.

Here are some of the top companies driving NFT development across the globe:

1. Calibraint

Calibraint is a leading NFT development company based in the USA, offering a range of services such as NFT minting, smart contract development, marketplace creation, real estate tokenization, peer-to-peer exchanges, and crypto collectibles. Founded in 2015, Calibraint has earned a solid reputation for delivering innovative solutions globally. Their hourly rates range from $30 to $50, with a minimum project size of $10,000. The company also specializes in mobile and web development, blockchain solutions, and custom software development.

2. SemiDot Infotech

SemiDot Infotech, based in the USA, is a top NFT development firm that offers services like NFT minting, smart contract creation, IPO development, real estate tokenization, and white-label NFT marketplace development. Founded in 2011, the company serves clients in the USA, UAE, UK, and India, with an hourly rate of $25 to $30 and a minimum project size of $5,000. SemiDot Infotech also excels in mobile and web development and wearable app development.

3. LeewayHertz

LeewayHertz is an established NFT development agency in the USA, specializing in Web3 solutions such as blockchain, DeFi, gaming, and the metaverse. Founded in 2011, LeewayHertz has worked with major clients including P&G, McKinsey & Company, and ESPN. They charge an average hourly rate of $50 to $99, with a minimum project size of $10,000. The company has offices in San Francisco, New York, Chicago, and India.

4. Appinventiv

Appinventiv is a global leader in digital engineering with more than nine years of experience in blockchain and NFT development. Their team of over 1,600 certified tech experts ensures industry-leading security and a seamless user experience. Founded in 2015, Appinventiv's hourly rates range from $25 to $50, with a minimum project size of $25,000. Notable clients include KFC, Adidas, and IKEA.

5. PixelPlex

PixelPlex, with over a decade of experience, is recognized for its innovative work in blockchain and NFT development services. Having successfully completed over 450 projects, they offer blockchain solutions, business consulting, and big data consulting. Founded in 2007, PixelPlex charges $50 to $99 per hour, with a minimum project size of $25,000. Their client roster includes Microsoft, Oracle, and BMW.

6. Antier Solutions

Antier Solutions is a leading NFT development company, offering tailored services for startups and entrepreneurs. With expertise in cryptocurrency development, P2P exchanges, and metaverse solutions, Antier provides scalable blockchain and NFT services. Founded in 2005, the company has an hourly rate of $25 to $49, with a minimum project size of $10,000.

7. Cronj

Cronj is a prominent NFT development company in the USA, specializing in NFT marketplace creation, NFT smart contract development, and marketplace support. Established in 2012, Cronj offers competitive pricing, with an hourly rate of under $25 and a minimum project size of $1,000. Their clients include Unilever, Nokia, and Apollo Hospitals.

8. Tokenminds

Tokenminds.co is a standout NFT development firm in the USA, known for offering a comprehensive suite of services tailored to various industries. Founded in 2017, they offer blockchain and NFT solutions with an hourly rate ranging from $25 to $49 and a minimum project size of $20,000.

9. Artjoker

Artjoker is a well-regarded NFT token development company specializing in Web 3.0 solutions. With over a decade of experience, Artjoker has built a strong reputation in various niches. Founded in 2006, their hourly rates range from $50 to $99, with a minimum project size of $20,000.

10. Blockchain App Factory

Blockchain App Factory is a leading player in the NFT development space, specializing in Web 3.0, ICOs, STOs, and DApps. Founded in 2013, they offer extensive blockchain development services with an hourly rate of $25 to $49 and a minimum project size of $20,000.

#nft development company #nft development companies #nft token development company in chennai

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aryacollegeofengineering · 8 months ago

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New Technologies You Need to Know in 2023

Top 10 Trending Technologies

AI and Machine Learning

It is the most transformative technology of the current times. AI engineers in the US are over $110K, Also engineers can earn as high as 50 lakhs to 1 crore per annum.Google, IBM, and Facebook are hiring and we and our future belong to this technology.

Cyber security

When there is technology is changing and growing where Global cyber crimes are increasing at an even bigger rate also Stakes are incredibly high and there aren’t enough highly educated also the reason why companies are paying high salaries for well-trained cyber security professionals and that’s the reason why learning and up skilling in cyber security could be the best investment for you today. Cyber security resulted in more than 50,000 search results and Job postings on indeed including Deloitte, PayPal, AT&T, IBM, Oracle, and Apple.

Metaverse

Metaverse-like experiences, such as virtual fashion shows, live concerts, and workspaces also Metaverse can give a realistic approach where students can learn everything more intimately.

Some report says Facebook will create around 1000 jobs in the next five years via the metaverse, Also as per the Goldman Sachs forecast; the metaverse market size will be in trillions.

Disney, Hyundai, Gucci, Samsung, Adidas, and Nike are hiring.

DevOps

It is a collaboration of the development and operations teams, there are significant changes in the DevOps ecosystem that makes it stand beyond any other tech advancements also new practices.

Salary is up to 28 Lakhs per annum in India.USA a DevOps Engineer can earn up to $145,000.

Some of the hiring companies are Amazon, Netflix, Target, Walmart, Meta, Etsy, and Adobe.

Full Stack Development

It is a software expert who’s equally proficient in front-end and backend development.

TCS, Infosys, Cognizant, IBM, HCL, and Accenture are hiring.

Blockchain

These applications go far beyond crypto currency and bit coin, Also business value generated by block chain will grow rapidly, reaching $176 billion by 2025 and $3.1 trillion by 2030.

In India is 8 lakhs per annum.

The average salary in the US is $136,000.

So TCS, Accenture, Tech Mahindra, and Capgemini India Pvt Ltd are hiring people in Block chain.

Cloud Computing

To remain competitive one has to embrace the cloud and commit to modernizing their IT and Healthcare companies are using the cloud to develop more personalized treatments for patients. Some services companies are using the cloud to power real-time fraud detection and prevention, and video game makers are using the cloud to deliver online games to millions of players around the world.

Apple, Netflix, Google, and eBay are hiring

Also, they can earn 10 LPA to 20 LPA, depending on their job role and expertise in India and In the United States, the salary range typically falls between $119,908 to $140,836.

Hyper Automation

Best Private engineering college in Jaipur Rajasthan says Artificial intelligence, Machine Learning, and Automation technologies such as Robotic Process Automation, and Natural Language Processing to automate as many business processes as possible.

TCS, UiPath, Wipro, Infosys, Automation Anywhere Inc., and Appian are some of the companies searching for people for their companies.

Data Science

Best colleges of Engineering in Jaipur, Rajasthan has many courses in Data Science, It makes it to this list of trending technologies, the rapid increase in data has made data science an attractive career choice, Their source data, clean it, then develop models and Microsoft, JPMorgan Chase & Co., Amazon, EY, and PwC are hiring

Business Intelligence

Raw data into useful information that helps make decisions and leads to actions that yield positive bottom-line impact also Some financial institutions like American Express to social media giant Facebook.

Some of their salaries can be 9 lakhs per annum in India and $134,000 in the United States.

Some hiring companies are SAP, Microsoft, Azure, Mphasis, Capgemini, Accenture, Sony, and Infosys.

Conclusion

Best Btech college in Jaipur Rajasthan says technology has advanced leaps and bounds, from a one-ton machine that could store 3.5 MB data(IBM 350) to an SD card that can store 2 Terabytes of data and weighs only 2 grams, we have come a long way also one thing which has remained constant throughout this time is change, Also It can change every 2-3 years and it is important for a professional who works in the technology space to keep themselves updated to climb up the career ladder fast!Source:Click Here

#best btech college in jaipur #best engineering college in jaipur #best btech college in rajasthan #best private engineering college in jaipur #b tech electrical in jaipur #best engineering college in rajasthan #top engineering college in jaipur

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tanthetaa-software-studio · 1 year ago

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Top 10 NFT Marketplace Development Companies in 2023

The landscape of Non-Fungible Tokens (NFTs) is undergoing a profound transformation, reshaping how we engage with and trade digital assets. NFTs have evolved from mere novelties to a revolutionary force across various domains like art, gaming, and collectibles. Navigating this dynamic terrain requires the expertise of top-tier NFT marketplace development companies. This blog post unveils the top 10 companies at the forefront of this technological wave, offering a guide for artists, collectors, and business visionaries to make informed choices for their NFT ventures.

Overview of NFT Marketplace

NFT marketplaces serve as digital platforms where individuals can buy, sell, and trade unique non-fungible tokens, representing ownership of digital or physical assets. These platforms, whether decentralized or centralized, have transformed the valuation and exchange of digital content, spanning art, collectibles, music, virtual real estate, and more, using blockchain technology for provenance and security.

Top 10 NFT Marketplace Development Companies

1. TanThetaa

Renowned for expertise in NFT marketplace development, TanThetaa empowers creators, collectors, and investors in the digital asset realm. Their team leverages blockchain technology, smart contract development, and user experience design to create secure and engaging NFT marketplaces.

2. SoluLab

A rising star in NFT marketplace development, SoluLab gains recognition for robust features and user-friendly processes. With a wealth of templates, they make building NFT exchange platforms accessible. Trusted by brands like Cigna and Merck, SoluLab excels in user experience and UI/UX design.

3. Hyperlink InfoSyatem

Established in 2011, Hyperlink InfoSyatem is a top NFT marketplace developer in India, expanding expertise from NFTs to AI, AR, and VR solutions. Their unique "Reels" NFT marketplace program and mobile NFT marketplace demonstrate their innovation and commitment to addressing blockchain network challenges.

4. Pixel Plex

With over 15 years of experience, Pixel Plex excels in crafting cutting-edge software solutions, collaborating with global technology giants. In the NFT space, Pixel Plex stands out, offering expertise to industries like music, art, fantasy sports, games, and the metaverse.

5. AppDupe

Embarking on its journey in 2007, AppDupe shifted focus to blockchain development in 2017, quickly rising to prominence in the NFT marketplace domain. Their comprehensive array of NFT services, including DApp development and Metaverse solutions, solidifies their reputation as a leader in NFT marketplace development.

6. Maticz

With over 5 years in the field and a team of over 50 experts, Maticz specializes in crafting tailored NFT marketplace solutions. Their agility in delivering applications with critical functionalities in just one week sets them apart in the NFT marketplace development industry.

7. WeAlwin Technologies

Founded in 2018, WeAlwin Technologies has become a prominent NFT marketplace development firm, extending expertise beyond NFTs to blockchain development, crypto exchange platforms, and Web3 games.

8. Cronj IT Technologies

Specializing in white-label NFT marketplace solutions, Cronj IT Technologies leverages cutting-edge frontend frameworks and blockchain technologies to craft customized NFT platforms aligned with client specifications.

9. Sparx IT Solutions

Established in 2010, Sparx IT Solutions has ventured into crafting NFT marketplace apps for diverse sectors, offering comprehensive development services covering project analysis, design, testing, and deployment.

10. INORU

INORU, a leading NFT marketplace development company, boasts a solid reputation for creating secure and dependable blockchain-powered solutions, serving clients across various sectors globally.

Final Thoughts

In the dynamic realm of NFT marketplace development, these top 10 companies offer a wealth of expertise and innovation. Whether you're an artist, collector, or visionary entrepreneur, industry leaders like TanThetaa, SoluLab, Hyperlink InfoSystem, Pixel Plex, AppDupe, Maticz, WeAlwin Technologies, Cronj IT Technologies, Sparx IT Solutions, and INORU can pave the way for your NFT venture's success. Their exceptional solutions, deep industry knowledge, and commitment to security and reliability make them invaluable partners in this rapidly evolving digital landscape.

#NFT #nftmarketplace #nft marketing services #nft marketplace development

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brillmindztech · 2 years ago

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Discover the Top 10 Metaverse Development Companies in India: Unleashing the Future of Immersive Experiences

As the concept of metaverse gains popularity, businesses and entrepreneurs are exploring its potential for creating innovative solutions and immersive experiences. India, with its vast pool of tech talent, has emerged as a hub for metaverse development companies. In this article, we will discuss the top 10 metaverse development companies in India that are leading the charge in this exciting new field.

Brill Mindz Technology: Brill Mindz Technology is a Bangalore-based software development company that has expanded its services to include metaverse development. The company has a team of experienced developers who can create customized solutions for businesses looking to create immersive experiences in the metaverse.

Hashstash: Hashstash is a leading metaverse development company in India that specializes in creating immersive gaming experiences. The company has developed games for platforms such as PC, mobile, and virtual reality, and has won several awards for its innovative game designs.

Dhruva Interactive: Dhruva Interactive is a Bangalore-based game development company that has been in the industry for over two decades. The company has worked on games for some of the biggest names in the industry, including Microsoft, Electronic Arts, and Sony.

Read more: cost to develop food delivery app like Zomato

Juego Studios: Juego Studios is a Hyderabad-based game development company that has expanded its services to include metaverse development. The company has developed several virtual reality and augmented reality applications, and has won several awards for its work in this field.

Yellow Monkey Studios: Yellow Monkey Studios is a Mumbai-based game development company that has developed several popular mobile games. The company has recently expanded its services to include metaverse development, and is quickly making a name for itself in this field.

Playizzon: Playizzon is a Pune-based game development company that has developed several popular mobile games. The company has also expanded its services to include metaverse development, and has already created several immersive experiences for its clients.

Top Stories This Week

Mastercard files 15 metaverse and NFT related trademarks

Multinational payments giant Mastercard filed 15 applications for NFT and metaverse trademarks, joining the ranks of competitors Visa and American Express who have taken similar action recently as well.

Notable applications include those for an online marketplace for digital goods, virtual reality events and communities, and Mastercard payment processing in the Metaverse. Furthermore, the firm is aiming to virtually trademark its “Priceless” slogan via tokenized text, audio and video.

Another filing outlines an intention to get Mastercard’s branding and name on sponsorship deals for metaverse-based sporting events, concerts and festivals.

Fortnite creators Epic Games raise $2B from Sony and LEGO to fund metaverse plans

Epic Games, the creators of the wildly popular Fortnite game, raised $2 billion in funding at a valuation of $31.5 billion. The round was led by Sony and The Lego Group’s holding company, Kirkbi.

The funds will go towards scaling Epic Games’ Metaverse plans, with chief executive officer and founder Tim Sweeney stating that the capital will help create “spaces where players can have fun with friends, brands can build creative and immersive experiences and creators can build a community and thrive.”

While there may not be a crypto or NFT link there specifically, Epic Games is also the developer of Unreal Engine, one of the most prominent game engines. The latest iteration, Unreal Engine 5, is able to facilitate the creation of NFT-based play-to-earn (P2E) games, offering a strong signal that the firm is eyeing the sector.

Ripple claims ‘a very big win’ in SEC case

Ripple Labs scored a “very big win” in its long-running dispute with U.S. Securities and Exchange Commission (SEC) this week, according to Ripple community lawyer James K. Filan. While both parties have traded many blows during the legal battle, Ripple appears to be growing confident that its arguments against XRP being a security will hold up in court.

Presiding Judge Sarah Netburn denied the SEC’s request to reconsider shielding important documents under privilege relating to a June 2018 speech made by the SEC’s former Director of the Division of Corporate Finance William Hinman, who stated that Bitcoin and Ether were not securities.

“The SEC seeks to have it both ways, but the Speech was either intended to reflect agency policy or it was not. Having insisted that it reflected Hinman’s personal views, the SEC cannot now reject its own position,” said Judge Netburn.

Brazilian Senate announces incoming approval of the ‘Bitcoin law’

The Federal Senate of Brazil has announced the drafting of a bill that will enable the regulation of the local cryptocurrency market. The long-debated issue is set to come to an end soon, with the bill due to be sent off for a full senate vote soon.

Two legislators, Senator Irajá Abreu and Federal Deputy Áureo Ribeiro, both rapporteurs of the aforementioned proposals in their respective legislative chambers, are drafting the bill.

“By joining the projects together, we accelerated the approval of this cryptocurrency milestone,” said Senator Abreu. “There is a market demand for a safer business environment and the need for criminal classification to avoid fraud, in addition to adjusting Brazil to international agreements.”

Coinbase suspends crypto payment services days after India launch

Coinbase reportedly suspended crypto payment services via its Unified Payments Interface (UPI) for Indian users earlier this week. It wasn’t an ideal move for the cryptocurrency exchange, given that it had just launched its services in the nation, but it was said that local regulators were the main reason behind the decision.

The exact reason for the suspension is unclear, though UPI is a payment portal governed by the National Payments Corporation of India (NPCI). On Thursday, the NPCI released a statement saying that it did not recognize the legal standing of any crypto exchanges using UPI. According to local crypto influencer Aditya Singh, Indian exchanges have been facing similar payment service problems since at least 2018.

According to reports from Indian financial publication Business Standard, Coinbase stated that it is “committed to working with NPCI and other relevant authorities to ensure that we are aligned with local expectations and industry norms.”

Also this week, Cointelegraph launched its French edition!

Winners and Losers

At the end of the week, Bitcoin (BTC) is at $40,453, Ether (ETH) at $3,032 and XRP at $0.77. The total market cap is at $1.88 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Kyber Network Crystal v2 (KNC) at 13.50%, ApeCoin (APE) at 9.36% and Monero (XMR) at 5.02%.

The top three altcoin losers of the week are Mina (MINA) at -32.12%, Anchor Protocol (ANC) at -27.81% and Waves (WAVES) at -25.13%.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

Most Memorable Quotations

“Stablecoins are the perfect Trojan horse for Bitcoin.”

Paolo Ardoino, chief technology officer for Bitfinex and Tether

“This isn’t inflation. This is [the U.S. dollar seeing] currency devaluation.”

Mark Yusko, CEO and founder of Morgan Creek Capital Management

“It won’t be June, but likely in the few months after. No firm date yet [for the Ethereum mainnet/Beacon Chain merge], but we’re definitely in the final chapter of PoW on Ethereum.”

Tim Beiko, Ethereum developer

“While the idea of using such a functionality as a means to achieve a negative interest rate is sometimes discussed in academia, the Bank will not introduce CBDC on this ground.”

Shinichi Uchida, executive director of the Bank of Japan

“If I pay with 100 euros in cash in a supermarket, I don’t have to show my ID card or identify myself. I simply pay with cash, and that’s it. And why should that be different in the crypto sector? I don’t understand that. We in Germany love cash, and we still accept an EU-wide cash payment cap of 10,000 euros. Why don’t we make the same rules of the game for crypto if we already have these rules of the game? Normal world, crypto world. Yes, we need regulations, but you still have to leave room to breathe.”

Stefan Berger, member of the European Parliament

“Twitter has extraordinary potential. I will unlock it.”

Elon Musk, CEO of Tesla

“The bulk of the Bitcoin ‘mooning’ happened behind the curtains, in the good old days when governments and tax agencies were none the wiser.”

Michelle Legge, head of crypto tax education at Koinly

“No matter what background or money you have access to, you can have access to DeFi.”

Yubo Ruan, founder and CEO of Parallel Finance

Prediction of the Week

Bitcoin keeps falling as former BitMEX CEO gives $30K BTC price target for June

This week, Bitcoin’s price traded downward and somewhat sideways for the most part, breaching below the $40,000 mark on multiple occasions, according to Cointelegraph’s BTC price index. BTC traded above $43,000 and below $39,500 inside the week.

Arthur Hayes, BitMEX’s former CEO, expects lower prices for Bitcoin in the weeks ahead. His reasoning: central banks have recently made it their mission to combat inflation — or at least make it seem like they’re fighting inflation. Whether they’re serious or not in combating inflation, they still need to raise interest rates and reduce the magnitude of their quantitative easing programs. These actions will have a negative impact on the “debt-based global economy” of which crypto and Bitcoin are a part, according to Hayes.

“By the end of the second quarter in June of this year, I believe Bitcoin and Ether will have tested these levels: Bitcoin: $30,000; Ether: $2,500,” Hayes wrote in the blog post.

FUD of the Week

Facebook whistleblower warns Metaverse will repeat ‘all the harms’

Facebook whistleblower Frances Haugen has slammed Meta in a new interview, warning that the firm could once again repeat the data- and power-hungry tactics that made the social media platform so successful.

Haugen highlighted that the Metaverse will give Meta even more opportunity to spy on its users than before and that the world will simply have to trust that the company does the “right thing” with all of its users’ data.

“They’ve made very grandiose promises about how there’s safety-by-design in the Metaverse,” she said. “But if they don’t commit to transparency and access and other accountability measures, I can imagine just seeing a repeat of all the harms you currently see on Facebook.”

Wikimedia community supports proposal to stop foundation from accepting crypto donations

The Wikimedia Foundation community has voted in favor of a proposal to stop accepting crypto donations, citing the reputational risk of accepting digital assets along with the environmental impacts of Bitcoin’s mining practices. Wikimedia is the non-profit organization that hosts the popular Wikipedia website.

The anti-crypto vote was in the strong majority, with around 71% of the 326 votes from Wikimedia contributors requesting that the Wikimedia Foundation stop accepting crypto donations.

“Bitcoin and Ethereum are the two most highly-used cryptocurrencies, and are both proof-of-work, using an enormous amount of energy. […] The current models continue to be extremely damaging to the environment. While there are eco-friendlier cryptocurrencies, they are less widely used,” the proposal read.

Texas regulators order virtual casino to stop selling NFTs

Texas and Alabama state securities regulators have filed a cease and desist order against the Cyprus-registered virtual Sand Vegas Casino Club in order to “stop a fraudulent investment scheme tied to metaverses.”

The firm has been accused of illegally offering NFT sales to fund the development of virtual casinos in metaverses, with a collection of 11,111 NFTs, in particular, offering the hodlers a supposed share of future profits from the casinos.

“The Respondents are also devising a scheme to obstruct any attempt to regulate the Gambler NFTs and Golden Gambler NFTs. […] They are misleading purchasers by claiming they can simply avoid securities regulation by implementing illusory features or using different terminology,” according to a Texas State Securities Board news release describing the order.

Best Cointelegraph Features

The FBI’s takedown of Virgil Griffith for breaking sanctions, firsthand

“I regularly roll grenades into the room, and someone needs to really jump on it.”

Satoshi may have needed an alias, but can we say the same?

“If you are running a multi-million-dollar protocol, it’s not wise to remain anonymous. You need to be visible to ensure that you won’t suddenly rug-pull and get away with it.”

The aftermath of Axie Infinity’s $650M Ronin Bridge hack

Since the hack of Axie Infinity’s Ronin bridge, developers behind the game have raised $150 million to reimburse the affected users.

Source link

#Blockchain #Coinbase #CoinbaseNews #Crypto #CryptoNews #ElonMusk #RippleNetwork #TraedndingCrypto #XRP

#Blockchain #Coinbase #coinbaseNews #Crypto #CryptoNews #ElonMusk #RippleNetwork #TraedndingCrypto #XRP #CryptoPress #Trending Cryptos

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cladeymoore · 3 years ago

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Axie Infinity, Yield Guild Games & the play-to-earn economy

Around the Block from Coinbase Ventures sheds light on key trends in crypto. In this edition, Justin Mart, Connor Dempsey, and Hassan Ahmed explore the growth of NFT games and the play-to-earn economy. Plus, a look at NFT marketplace activity and the Poly Network exploit.

We’re at an exciting time in crypto: one in which cryptonetworks are blossoming into full-fledged virtual economies. Nowhere is this more on display than with NFT gaming.

At the forefront of NFT gaming sits Axie Infinity and its play-to-earn model: a model that pays people in crypto to play a fun video game. With over one million daily active users, Axie Infinity has exploded in popularity in emerging markets and is showing the potential to be a trojan horse for on-boarding the next generation of crypto users.

On top of that, Axie Infinity and play-to-earn gaming has spawned its own thriving financial services sector.

The rise of Axie Infinity

Over the last 30 days, Axie Infinity generated a head turning $343M in fee revenue. This is more than any app or protocol in crypto aside from the Ethereum blockchain, according to Token Terminal.

So where’s that revenue coming from?

How Axie Infinity generates revenue

The Axie Infinity economy consists of a governance token (AXS) and a second token called Smooth Love Potion (SLP) that serves as an in-game currency, along with NFTs that represent both game characters and virtual real estate.

The gameplay itself is often compared to Pokemon, where players battle “Axies” (pictured below) against those of other players. Different Axies have different strengths and weaknesses, and the strategy of the game comes down to playing to your Axies strengths better than your opponent. Players get paid in SLP for defeating opponents. Additionally, players can compete daily quests to earn additional SLP. Axies can also be “bred” together to create new Axies which can in turn be sold to other players for profit.

Every time an Axie is traded, a plot of real estate is sold, or two Axies are bred, the protocol takes a fee priced in a combination of AXS and SLP. Rather than go to the developers, this revenue is placed in the Axie treasury, which has ballooned to nearly $600 million.

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An emerging markets phenomenon

While the protocol revenue numbers alone depict the emergence of a new breakout crypto application, what’s more exciting is where Axie Infinity is taking off: in developing nations where players can often earn more playing the game and selling SLP for their native currencies than they can with a typical day job.

With an estimated 50% of daily active users (DAUs) coming from the Philippines, the game is also picking up steam in other emerging markets like Indonesia, Brazil, Venezuela, India, and Vietnam.

Created by game developer Sky Mavis in 2018, Axie started picking up organic traction in the Philippines in early 2020 after a few players realized they could make legitimate incomes by playing. When Covid lockdowns hit and many were put out of work, more were encouraged to give it a try. A documentary on the game’s growth called PLAY-TO-EARN went viral in May 2021 and DAUs went vertical soon after.

Business models of the metaverse

Unlike many mobile games, Axie Infinity is not free to play. To get started, players need to obtain 3 Axie Infinity characters. In the earlier days of the game, the average Axie was selling for under $10. With the game’s rapid growth and the broader NFT rally, the average Axie is now selling for nearly $500 according to CryptoSlam.

Given Axie’s base within the Philippines and other emerging markets, a $1,500 entry tag is a non-starter for most would-be players. To mitigate this barrier to entry, an informal market emerged in which NFT owners began lending players the NFTs needed to play the game in exchange for a cut of their winnings. This is done through QR codes that let players use Axie NFTs in game without the lender having to cede ownership on-chain.

This informal market has blossomed into a formal play-to-earn financial services sector. The largest and most prominent player is a project called Yield Guild Games.

Yield Guild Games (YGG)

Founder Gabby Dizon likes to say that Yield Guild Games is one part Berkshire Hathaway and one part Uber.

Just as Berkshire Hathaway is a holding company for a multitude of businesses, YGG is essentially a holding company for play-to-earn gaming assets. Starting in 2020, they’ve been buying up yield producing NFTs, governance tokens, and ownership stakes in promising gaming projects and protocols.

Similar to how Uber pairs people who want to earn money driving with people who need rides, YGG pairs people who want to make money gaming with the NFTs they need to earn in play-to-earn games. In many parts of the world, people are opting to work with YGG over Uber simply because it pays more.

YGG recently released its July Asset & Treasury Report that offers an interesting glimpse into the new kinds of business models NFTs and play-to-earn games are creating.

YGG by the numbers

Within YGG, there are scholars and community managers. Scholars receive NFTs that they in turn put to work earning crypto. Community managers recruit and train new scholars. 70% of winnings go to scholars, 20% to community managers, and 10% to the Yield Guild Games treasury.

According to the report, 2,058 new scholars joined YGG in July bringing the total to 4,004. In the same month, YGG scholars generated 11.7M SLP by playing Axie Infinity, which equated to over $3.25M in direct revenue. From April through July, scholars and community managers have earned a cumulative of $8.93M.

From its cut of all SLP earned by scholars, YGG earned $329,500 in July and a total of $580,000 since April. YGG’s expenses currently outstrip revenue, as they spent $1.62M in July alone “breeding” new Axie’s to meet scholar demand (breeding can cost anywhere from $200 to $1,200 per Axie).

The YGG Treasury

The YGG treasury consists of tokens and stablecoins held in a wallet, NFTs, and venture investments made in various play-to-earn games. The project has been funded by a $1.325M seed round led by Delphi Digital and another $4.6M round from a16z. They also raised $12.49M from the sale of the YGG governance token, while holding 13.3% of its outstanding supply.

As of the end of July, the YGG wallet’s holdings stood at $415M, with the majority stemming from the YGG token ($373M). The YGG token is part of Yield Guild Game’s plan to transition into a community-governed DAO.

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The price of YGG has tripled in August, meaning their treasury currently stands at over $1B.

https://medium.com/media/ad2c70e2ac461dd1cfc6d0faaf9bc986/href

Much of YGG’s capital has been put to work buying NFTs that can earn yield from play-to-earn games. By the end of July, the YGG treasury had amassed 19,460 NFTs valued at over $10M across 12 play-to-earn games. Axie Infinity NFTs comprised close to 90% of that value.

https://medium.com/media/df13de155b6354a002f814bf13a0e5d8/href

YGG has also made early stage investments across 8 play-to-earn games via SAFT (Simple Agreement for Future Tokens), and locked in ~$1M for yield farming in blue-chip DeFi projects.

https://medium.com/media/98e46ab915bf0e874d9c866897c36252/href

Play-to-earn in the real world

A key element of the YGG model is that players are lent NFTs with zero downside risk and without having to put down any upfront capital. In return, they surrender 30% of their winnings but retain the majority — a critical hook to onboarding a new class of crypto users that have historically been priced out.

In fact, some players in the Philippines are earning 5–10x what they were making from their previous jobs. New homes have been purchased, charitable acts have been made, and even shops are accepting SLP as payment.

Beyond the wealth Axie Infinity has created, the game’s popularity has served as a means for getting a large new class of users comfortable using crypto applications. As these 1 million users interface with cryptocurrencies, NFTs, digital wallets, and DEXs, it’s not hard to see this new cohort as natural users of other DeFi and Web3 applications.

Play-to-earn sustainability

If Axie Infinity is its own digital nation, game developer Sky Mavis serves as its Federal Reserve. Where the Fed has various tools it uses to influence the economy, Sky Mavis can adjust the SLP issuance rate and breeding fees with the aim of keeping the Axie economy healthy. Just like a real economy, digital economies have to consider the effects of inflation.

ETH has been flowing into the Axie economy due to high demand for Axie NFTs. Increased demand for Axie NFTs has led to rising Axie NFT prices. Higher NFT prices have made breeding more profitable. Breeding requires fees paid in SLP & AXS, leading to a rise in token prices. With rising SLP prices, playing becomes more profitable, encouraging others to join. A powerful positive feedback loop no doubt — but what if market conditions change?

Winning Axie Infinity battles and quests yields SLP, inflating the SLP supply. And since breeding is priced in SLP, additional supply of SLP equates to cheaper breeding fees to create new Axie NFTs, inflating Axie NFT supply. These dynamics could have an impact on NFT market prices, which in turn may have a direct effect on the economics for players — a possible negative feedback loop.

Ultimately, Sky Mavis has to keep the SLP supply in-check while improving overall gameplay to keep its player economy and ETH deposits growing. They must also offset the number of players seeking to extract a profit with players who are pure consumers — i.e. playing for the fun of it.

Playing the Long Game

While Sky Mavis works to keep the Axie economy strong, Yield Guild Games is banking on the continued growth of play-to-earn gaming as a whole. By replicating its model for Axie Infinity across new games, it seeks to build a play-to-earn empire. Over the long run, founder Gabby Dizon sees YGG as the “recruitment agency of the metaverse” that ultimately competes with the Ubers of the world for labor. A future straight out of Ready Player One in which millions of people earn a living in the digital world in order to cover expenses in the physical one.

Final word

With the exploding revenue of Axie Infinity, the emergence of DAOs like Yield Guild Games, and the multitude of play-to-earn games on the horizon, it’s clear that this trend has legs. With DeFi, NFTs, and now crypto gaming, we’re rapidly evolving past the original crypto killer app of speculative trading and into a universe of expressive new apps and models. We’re in fascinating times as crypto’s utility phase marches forward with a full head of steam.

Quick Hits

OpenSea Hits $3B monthly volume

In the month of August, NFT exchange OpenSea hit $3B in monthly volume as over 1.5 million NFTs changed hands. Its August volume alone exceeds that of every other month in its history, combined.

https://medium.com/media/094a28282f83142b39aee985b760ecd3/href

OpenSea’s August volume is on par with $3B in gross sales Etsy put up in all of Q2: another sign of just how big the NFT market has grown relative to other online marketplaces in a very short timespan.

Data from The Block shows how dominant OpenSea’s dominance over the NFT landscape really is.

https://medium.com/media/65a33b506b8871ddaa65ed0389cf023c/href

Notably absent from this exchange landscape are any kind of decentralized venues for trading NFTs. This follows past market cycles in which centralized exchanges found product market fit first, before ultimately paving the way for decentralized alternatives (think Uniswap during the DeFi summer).

The DEX market for NFTs is still nascent but one we’re watching is the recently launched Punks.house which is a permissionless venue for trading CryptoPunks made by Zora. We’re also seeing NFT markets begin to decentralize themselves, with NFT art marketplace Super Rare making the first move with the introduction of its RARE governance token. Many suspect OpenSea will eventually take this route as well.

Lastly, while OpenSea is a centralized for profit entity, its code is open source. It wouldn’t surprise us to see a low-fee competitor forked from OpenSea emerge in the coming months.

$611M whitehat hack?

In the largest DeFi hack to date, an attacker drained over $611M from the Ethereum, Binance Smart Chain, and Polygon blockchains. Then in a surprise move, he returned almost all of it.

The hack was done by exploiting vulnerabilities on the Poly Network, a cross-chain interoperability protocol that connects different blockchains. These types of networks are usually among the most complex, owing to challenges in getting two different blockchains to talk to each other in a secure, safe fashion (it’s hard enough getting one blockchain to be secure!). And complexity is the enemy of security because added complexity increases the surface area for attackers to find exploits.

In this case, the hacker tricked Poly Network’s smart contracts into thinking that the hacker’s address had permission to unlock the $611M+ across chains (detailed technical analysis here, simple explainer here). But in an odd turn of events, the hacker ended up returning nearly all of it to the Poly Network team (sans $33M USDT frozen by Tether).

There remains speculation around the hacker’s motives to return the funds. Security firm SlowMist stated that they were able to identify the hacker’s IP and email addresses, so some think the funds were returned because the hacker knew they wouldn’t be able to launder that much money undetected. The hacker, on the other hand, conducted an AMA and stated that they did it, “for fun.” And in a separate twist, the Poly Network team offered the hacker a job as their Chief Security Officer in addition to sending a $500,000 bounty for returning some of the funds.

What’s going on here? We can’t know for sure, but it is rare for a hacker to return funds, especially in such a public fashion. Occam’s razor suggests that the repercussions involved with getting caught (if their info was truly identified) were too great to bear.

While it’s disconcerting to see more hacks happening, we should note that this is simply an evolutionary fitness-function in action. Each hack teaches us how to improve, and we learn, adapt, and improve. While bleeding edge crypto protocols pioneering new use cases will inevitably carry more risk, the space hardens over time.

And Poly Network is not alone. Note the other week when Paradigm’s samczsun discovered and reported a vulnerability in SushiSwap’s MISO platform that would have left $350M ETH at risk. Most recently, Cream Finance was exploited in a flashloan attack for $25M.

But for crypto to really succeed, we need security guarantees. Insurance markets are critical.

Retail news

Binance Tightens KYC Requirements — Leans into Compliance

The 2021 Global Crypto Adoption Index: Worldwide Adoption Jumps Over 880% With P2P Platforms Driving Cryptocurrency Usage in Emerging Markets

Crypto grows from 2% to 41% of Robinhood’s total revenue in past year

Japan’s Liquid Global Exchange Hacked; $90M in Crypto Siphoned Off

‘Novi is ready to come to market,’ says David Marcus as Diem’s future remains uncertain

Facebook Considering NFT Support in Novi Digital Wallet

Austrian crypto unicorn Bitpanda raises another $263 million

Institutional news

US Mortgage Lender UWM Plans to Accept Bitcoin Payments

Galaxy files for ETF that provides indirect exposure to bitcoin

Bloomberg and Galaxy team up on decentralized finance index

Former SEC chair Clayton joins Fireblocks advisory board

Galaxy reports losing $175 million during the last quarter in recent earnings call

Wells Fargo Launches Passive Bitcoin Fund for Wealthy Clients

Ecosystem news

Visa Enters Metaverse With First NFT Purchase

Budweiser buys Beer.ETH domain and a rocket NFT

Twitter taps crypto developer to lead decentralized social media initiative Bluesky

TikTok Picks Streaming Service Audius to Power New ‘Sounds’ Library

DeFi projects could come under SEC’s oversight, says chairman Gensler

a16z announces $4.6 million financing round in Yield Guild Games

Avalanche launches $180 million DeFi incentive scheme with Aave and Curve

Walmart is looking for a crypto product lead

Polygon acquires Hermez in $250 million deal that includes first-ever token ‘merger’

Ethereum 2.0 Staking Contract Now Holds the Most Ether: $21.3B

Tweets

Chris Dixon: Blockchains are the new app store

Santiago R Santos on play-to-earn and the Future of Finance

Muneeb on the L1 landscape

Ryan Watkins on TVL across smart contract platforms

This website does not disclose material nonpublic information pertaining to Coinbase or Coinbase Venture’s portfolio companies.

Disclaimer: This material is the property of Coinbase, Inc., its parent and affiliates (“Coinbase”). The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Coinbase or its employees and summarizes information and articles with respect to cryptocurrencies or related topics that the author believes may be of interest. This material is for informational purposes only, and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations or (iii) an official statement of Coinbase. No representation or warranty is made, expressed or implied, with respect to the accuracy or completeness of the information or to the future performance of any digital asset, financial instrument or other market or economic measure. The information is believed to be current as of the date indicated on the materials. Recipients should consult their advisors before making any investment decision. Coinbase may have financial interests in, or relationships with, some of the entities and/or publications discussed or otherwise referenced in the materials. Certain links that may be provided in the materials are provided for convenience and do not imply Coinbase’s endorsement, or approval of any third-party websites or their content. Coinbase, Inc. is not registered or licensed in any capacity with the U.S. Securities and Exchange Commission or the U.S. Commodity Futures Trading Commission.

Axie Infinity, Yield Guild Games & the play-to-earn economy was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.

from Money 101 https://blog.coinbase.com/axie-infinity-yield-guild-games-the-play-to-earn-economy-e73ac6b39e6c?source=rss----c114225aeaf7---4 via http://www.rssmix.com/

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huobi-study-club · 3 years ago

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Huobi Study Club: Why is the Metaverse so popular?

Huobi Observation

Recently, the concept of Metaverse has exploded, why is it happening? The Metaverse is a collection of virtual space and time, a virtual reality network world supported by a series of technologies such as augmented reality (AR), virtual reality (VR) and the Internet.

Huobi Study Club thinks that the Metaverse needs four support, which includes blockchain for data validation, network communication to meet the smoothness, display technology to support the experience and video game content iteration. Meanwhile, the Metaverse contains five major features, including an economic system, virtual identity, a strong social aspect, open and freely creative atmosphere and an immersive experience.

In March, Roblox was listed on the New York Stock Exchange, with a market value up to $40 billion, and was regarded as the "first Metaverse stock". In June, Facebook CEO Mark Zuckerberg said, Facebook will create a world called "Metaverse". In addition, Google, Amazon, Disney and other giants have also laid out the "Meta-universe" earlier. Two Korean asset management companies recently launched the Meta-Universe Fund to help investors invest in stocks benefiting from Facebook, Apple, Microsoft, Roblox, Naver and Hybe.

The Metaverse has become a must-have for the giants, and a new windfall is forming.

Huobi Study Club believes that the reason for the Metaverse is the capital guidance, and the increasing participation of giants on the one hand. But more importantly, the Metaverse may affect the expectation of human civilization in the future. The emergence of the Metaverse may change the mainstream cognition of human society about "self-existence", and its significance goes far beyond games and social platforms. The migration to virtual space-time is an inevitable trend in the development of information technology and human civilization.

Huobi Newsflash

[U.S. SEC Chairman: While I’m intrigued by the blockchain technology, but still needs regulation]

SEC Chairman Gary Gensler is thinking about ways to strongly regulate the blockchain and cryptocurrency industry for investor protection. “While I’m neutral on the technology, I'm even intrigued. If somebody wants to speculate, that’s their choice, but we have a role as a nation to protect those investors against fraud.” says Gensler.

[BIS Secretary General: Stablecoins led by large tech companies like Facebook can be a game changer for the financial system]

Aug. 3 -- The strengthening market dominance of large technology companies could pose a potential threat to financial stability and personal information protection, said Augustine Carstens, secretary general of the Bank for International Settlements (BIS), and three other colleagues in a report published today.

[India launches digital payment solution e-RUPI]

On August 1, Indian Prime Minister Narendra Modi announced that he will launch e-RUPI, a futuristic digital payment solution which will be cashless and contactless digital payment. It will be an electronic voucher based on a QR code or SMS string that can be easily accessed by beneficiaries through their smartphones.

[Porsche to auction exclusive design sketch as a NFT]

Between 2 and 6 August 2021, collectors and Porsche fans will have the opportunity to purchase at auction an exclusive design sketch by Peter Varga, Director Exterior Design, via the US platform SuperRare. The special feature of the unique drawing is that it will be offered as a digital and physical asset; the total proceeds will be donated to the non-profit organisation Viva con Agua.

[OpenSea's daily volume is exceeding its 2020 total]

Leading NFT marketplace, OpenSea, is now processing more transactions daily than it did during the entirety of 2020. Devin Finzer, the co-founder and CEO of OpenSea, tweeted that the platform had processed $95 million worth of transactions in two days. In 2020, OpenSea did about $21 Million in total transaction volume. DappRadar data shows that OpenSea is extending its lead over rival NFT marketplaces, with SuperRare and Rarible currently representing daily volumes of $543,000 and $248,000 respectively.

Market Analysis

BTC fell slightly during the day，and the trading volume was relatively sluggish

According to data from the Huobi Global, BTC fell slightly during the day, as low as 37963.93USDT. After a slight rebound in the afternoon, it traded sideways at 38500. In four-hour level of picture, the K line continues to stay below EMA 5, EMA 10, and EMA 20 during the day, and the three EMAs show a downward trend. The K line continues to be located between the middle track and the lower track of the Bollinger Band for a short time, and the opening of the Bollinger Band is slightly enlarged. DIF continues to be below DEA, and DEA may change from positive to negative at night. CCI continues to stay below the -100 line. The trading volume is relatively sluggish, and the market may decline for a short time. In day level of picture, BTC ushered in three consecutive negatives. In the evening, continue to pay attention to the continuation of the downward trend and the breakthrough of 39,400 above and the support of 38,000 below.

According to data from the Huobi Global, ETH fell slightly during the day, as low as 2444.00USDT, and then traded sideways at 2480. In four-hour level of picture, the K line continuously crossed EMA 5, EMA 10 and EMA 20 downwards within a day, and EMA 5 crossed EMA 10 downwards to form a death cross, and the three EMAs showed a downward trend. The K line crosses the middle track of the Bollinger Band within a day, and the opening of the Bollinger Band narrows slightly. DIF continues to stay below DEA for the day, and both are positive. CCI is approaching the -100 line, and it may cross down at night. The trading volume is relatively sluggish. The market may fall slightly. In day level of picture, ETH fell slightly today, and the decline basically reversed the increase in the previous two days. In the evening, continue to pay attention to the continuation of the downward trend and the breakthrough of 2540 above and the support of 2430 below.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable. The volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts decreased slightly.

The open interest of ETH futures contracts remained stable. The volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts decreased slightly.

According to data from Huobi Study Club, today, DeFi TVL remained stable and valued at $84.69 billion, the true locked value remained stable and valued at $63.53 billion. Among them, the top programs have not changed much. Today's total DeFi trading volume remained stable and valued at $3.46 billion. Among them, Curve rose significantly, reaching 154.69%.

#huobi global #crypto currency #huobi study club #metaverse

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toomanysinks · 6 years ago

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Despite short-term questions, games software/hardware to top $200 billion by 2023

Tim Merel Contributor

Tim Merel is managing director of Digi-Capital.