NFT News Official TheBitTimes.com

On Oct. 13, NvirWorld partnered with the Internet Computer Protocol (ICP) to activate the web3 ecosystem. The Memorandum of Understanding (MOU) between the two companies will see NvirWorld integrate the ICP network into its web3 game ecosystem and expand it. As part of the agreement, NvirWorld will operate a web3 gaming launchpad on the Nvir Web3.0 Studio (NWS) platform it has developed. ICP is the mainnet launch ed in May 2021 by the Swiss non-profit organization DFINITY Foundation after a 5-year development period. The DFINITY Foundation comprises over 300 distinguished experts in the blockchain industry, including engineers, mathematicians, cryptographers, distributed computing specialists, and programming language developers. They hold over 100,000 academic citations and more than 200 patents. NvirWorld has an official contract with ICP. A representative from NvirWorld mentioned “web3 games” as a blockchain trend for 2024, stating, “We are doing our best...

Snook, a multiplayer game, is launch ing on Arbitrum, an Ethereum layer-2. The move is aimed at expanding its player base and introducing USDC, a stablecoin, to complement its native token, SNK. Snook deploys on Arbitrum, enhance gaming experience Snook is a fast-paced blockchain game focused on rewarding gamers based on their skill and effort to thrive in a kill-or-be-killed environment.  The player’s ability to perform directly decides the value of their non-fungible token (NFT) character that can be sold in the secondary market.  You might also like: US SEC may approve Ethereum futures ETFs next week The platform aims to enhance  gaming experience by ensuring that each player’s in-game character is an NFT with immutable records of their skills and achievements.  If a player’s NFT survives, they can continue participating in games, enhancing their traits and continuously increasing their value. The launch on Arbitrum allows the NFT-based game to e...

Web3 infrastructure firm MoonPay branches off to create MoonPay Ventures, which will direct the firm to invest in web3 infrastructure and gaming. MoonPay, a web3 infrastructure firm, has launched an investment division named MoonPay Ventures. This new branch aims to focus on nurturing early-stage startups specializing in web3 technology, gaming, and closely related fintech sectors. The news comes as the company acknowledges the increasing significance of web3 and its role as a catalyst in the emerging digital ecosystem. / Today, we unveil MoonPay Ventures! Our invest ment arm is committed to MoonPay’s mission – forging vital infrastructure for leading wallets, exchanges, and brands – all accelerating Web3 adoption pic.twitter.com/DcDevCLLdw — MoonPay 🟣 (@moonpay) August 29, 2023 MoonPay Ventures plans to invest sums ranging from $100,000 to $1 million, primarily in seed and Series A funding rounds. Abhay Mavalankar, the vice president of corporate development...

First-gen blockchain games prioritized crypto-earning over gameplay, leading to an unsustainable growth model. Now, a Web3 gaming platform is about to change that. Many first-generation blockchain games were more concerned with crypto-earning than providing a great gaming experience. In contrast, Gala Games, a blockchain gaming platform with a proven history in the Web3 space, prioritizes fun and aims to address concerns about GameFi adoption. Decentralized gaming, better known as GameFi, has been quickly identified as one of the clear use cases for blockchain technology that has yet to see mass adoption. However, while the benefits of GameFi, like greater control and offering tangible rewards, have been well marketed, most gaming is still done on a centralized platform. To put things in perspective, Fortune Business Insights estimates that the global gaming market size was valued at $249.55 billion in 2022 and will grow from $281.77 billion in 2023 to $665.77 billion by 2030. In ...

With the start of a new year, the crypto market is bracing itself for the unknown. What are the main challenges and goals? If 2022 was any kind of template for gauging what the crypto market might offer for investors going forward, it proved to be terribly difficult to predict. The space saw a brutal shock to the global crypto market capitalization, which fell just over 60% from $2.2 trillion to about $797 billion year to date. It also saw the two largest cryptocurrencies by market cap, BTC and ETH, fall by 64% and 67%, respectively, during the same time frame, with the concurrent slide in the alt market too. These price drops, combined with the demise of the FTX exchange, were not events that many, if any, foresaw. Furthermore, the fallout from the FTX debacle is not yet over, given that some crypto projects and venture funds have retained treasury accounts on the exchange. That said, if 2022 was indeed messy, then 2023 has to offer something more positive, but growth is likely to be...

From creating e-sports competitions with huge prize pools to making game tokens more relevant to holders, members of the community share their thoughts on GameFi. As the GameFi space continues its journey to attract gamers to a new gaming paradigm, community members shared their takes on what they think a mature GameFi project needs to succeed.  From creating e-sports competitions with huge prize pools to making the game tokens more relevant for the token holders, GameFi community members shared their takes on what the space needs. One Reddit user suggested that GameFi projects need to appeal to several target audiences. This includes whales who will provide funding, earners who are mostly kids and people from developing countries and those who play for fun that will leave good reviews for the game. Another community member pointed out the need to improve the reputation of the space. According to the Redditor, there are some that consider GameFi a scam and this needs to be changed. ...