Kieran Warwick, the co-founder of forthcoming NFT-powered gaming metaverse Illuvium, has revealed he made a gain of more than 9,000% from flipping a virtual plot of land purchased from the Axie Infinity metaverse.
Warwick, the brother of Synthetix founder Kain, recounts purchasing the plots during mid-2020, noting there “weren’t too many use cases” for digital land at the time, with in-metaverse advertising and mining having yet to become common as utilities for virtual property.
He purchased the plot for $300, and announced the sale a year later for $28,000 on July 13.
Despite the lack of apparent utility, Warwick invested “quite a bit into” Axie Infinity based on “the promise for them to build out the metaverse.” While players are still waiting for Axie to build out functionality for its land, Kieran notes the plots have increased in value by thousands of percent over the past year.
“Basically it was speculation, I just thought that play-to-earn in itself, which is this new paradigm..
After showing a record momentum, the downward spiral in Bitcoin prices has begun, with the largest cryptocurrency by market capitalization falling below the $50,000 mark. In the last 24 hours, the prices of Bitcoin have fallen by around $4300, and with this, the cryptocurrency registered a loss for ..
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This WeekRemembering John McAfee: Computer programmer and crypto evangelist dead at 75John McAfee was found dead in his Spanish prison cell hours after the country’s courts ruled that he could be extradited to the U.S. to face tax evasion charges. He was 75.
He was best known for creating one of the world’s best-known antivirus software programs. The entrepreneur also made headlines in the crypto space and mainstream media for a July 2017 prediction that the price of Bitcoin would reach $500,000 by 2020. McAfee didn’t end up fulfilling the terms of an extravagant bet where he claimed he would “eat [his] dick on national television” if it didn’t happen.
Spanish officials have not ruled out the possibility that McAfee..
The price of Bitcoin (BTC) has surpassed $61,000 on April 10 for the first time in nearly a month. Following the breakout, traders are starting to look at new levels of resistance and support in the short-term as optimism returns to the market.
In the near term, besides the all-time high at around $61,800, there are three key Bitcoin price levels to observe: $61,188, $58,387 and $53,000.
BTC_USDT orderbook heatmap (Binance). Source: Material IndicatorsAs long as the price of Bitcoin stays above $58,387 and keeps attempting to break out above $61,188, it would likely see a new record high in the foreseeable future.
If Bitcoin breaks out to a new record high, traders also anticipate the altcoin market to pullback slightly for the time being, at least until BTC starts to stagnate after reaching a new high.
$58,000 flipping into support is critical for more upsideAccording to the pseudonymous trader "Rekt capital," the key for Bitcoin to cleanly reach a new all-time high in the coming days..
Blockchain-based sports platform Chiliz has partnered with the Portuguese Football Federation to release fan tokens on Socios.
In a Thursday announcement from Socios, the platform said it will be dropping tokens for the Portugal national football team, also known as A Seleção or “The Selection,” within the next few days for local fans. As with previously tokenized sports franchises, the digital collectibles are minted on the Chiliz blockchain and allow token holders to vote in polls and earn VIP rewards.
“The launch of the $POR Fan Token will allow us to create new ways of reaching our supporters and interact with them in new and innovative ways.” said Portuguese Football Federation’s chief marketing officer Nuno Moura. “This will create new opportunities to engage fans with the Portuguese Team like never before, providing them with exclusive benefits, experiences and rewards.”
While Chiliz through Socios has formed partnerships with major names in sports to release fan tokens, crypto ..
A sense of relief has begun to emerge as COVID-19 vaccinations continue to be administered across the world. While hopeful, a new challenge remains: distinguishing between individuals vaccinated and those unvaccinated.
Various statistics claim that very little of the world’s population has been fully vaccinated as of the start of March 2021. While this number is still low, some regions like Texas have optimistically begun lifting mask mandates in hopes of resuming normal lifestyles. Other states across America, however, have started taking safer precautions to ensure normalcy following the COVID-19 vaccination rollouts.
For example, New York governor Andrew Cuomo recently announced a pilot program to trial the “Excelsior Pass,” a solution based on IBM’s Digital Health Pass powered by blockchain technology. According to the New York State blog post, “the Excelsior Pass will confirm an individual’s vaccination or a recent negative COVID-19 test through a confidential data transfer” bet..
Bitcoin (BTC) dominance briefly fell below 50% last week for the first time since January 2018, sending a strong signal that more speculative bets on altcoins was on the rise.
The Bitcoin dominance index, which measures BTC’s market capitalization relative to the broader cryptocurrency market, reached a low of 49.35% on Thursday, according to CoinMarketCap. At the beginning of 2021, BTC dominance was 70.68%.
Ethereum (ETH), meanwhile, accounted for nearly 15% of the overall market at its peak on Thursday. ETH dominance is up nearly 4 percentage points since the start of 2021.
ETH has outperformed BTC over the past seven days, charting an impressive 9.5% return. The second-largest cryptocurrency by market cap is down 10% from its previous all-time high whereas Bitcoin has corrected over 20%.
Binance Coin (BNB) has also seen its share of the overall market grow steadily this year, from 0.71% on January 1 to 4.17% on April 25. BNB is being supported by several fundamental factors, incl..
Chainflip is a decentralized, trustless protocol facilitating cross-chain swaps between different blockchains. The platform does not require users to have previous crypto knowledge or an intermediary to swap their tokens, as they can perform these functions in a few clicks. This way, Chainflip provi..
Many people would love to run their own cryptocurrency exchange, yet they do not always possess the necessary technical knowledge. Additionally, many developers want to create a new crypto token, yet they worry about finding the proper exchange or marketplace. The HollaEx Kit can solve all of these ..
GamyFi Platform, which specializes in blockchain games, and fantasy-themed sports, has coordinated Chainlink Verifiable Random Function (VRF) on the Binance Smart chain network system. Since Chainlink is the leading VRF in the blockchain industry, with an oracle network that is not centralized, the ..
Major U.S.-based cryptocurrency exchange Gemini has experienced two service disruptions today and is now reporting degraded performance in its mobile app, web interface, and application programming interface.
According to an update on the Gemini status page, the crypto exchange began investigating reports of potential service disruptions at 13:24 EST today. Though the exchange said it had restored all of its services only minutes later, Gemini reported another service disruption a few hours later, saying its systems were “experiencing degraded performance” due to an undetermined cause.
At time of publication, deposits and withdrawals of all tokens Gemini supports were unaffected by the service disruption. However, users of the firm’s mobile app, its interest-earning program Gemini Earn, wire transfers, and others may be experiencing issues. As of 17:06 EST, Gemini reported it had implemented a fix and was monitoring the results.
Disruptions and outages at crypto exchanges can sometime..
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