Solana (SOL) continued its two-week uptrend on March 30, rising in part owing to its integration with OpenSea, the world's biggest nonfungible token (NFT) by volume. SOL price rises to multi-week highs SOL's price gained 4.5% in the past 24 hours to around $117 per token, its best level since Feb. 11, 2022. The coin's latest move upside pushed its two-week paper returns to over 50%. Nonetheless, SOL/USD is still down 30% on a year-to-date timeframe, risking pullback as the price tested its 200-day exponential moving average (200-day EMA; the blue wave) near $120 as resistance. The 200-day EMA coincided …

COVID-19 brought many things to a halt, motorsports included. Although disruptive, the resulting digital reality boosted the sims racing experience, a reality driven by popular drivers now making an experience in virtual events. This list includes Formula 1’s Virtual Grand Prix, The Race: All-Star Series and eNASCAR featured on ESPN, FOX and other major TV broadcasters. Although this initial frenzy has since subsided with the reintroduction of live races, sim-racing has proven beneficial in scouting new talent and inspiring entirely new communities by blurring the line between the real and virtual world. With the world transitioning from pandemic to endemic, …

Nonfungible tokens (NFTs) were in a strong bull run from Jan. 1 to mid-February. During this time, OpenSea volumes topped $5 billion and then fell to $3.6 billion toward the end of February. This could have been a sign that the overall sentiment of the crypto and NFT market was correcting. As Q2 approaches, the total volumes and sales for NFTs have been in decline, leading new entrants and investors to wonder whether the sector is dying. According to data from DappRadar, OpenSea trading volumes have dropped nearly 11% in the last week and so far, the total volume on …

The popular gaming guild YGG has reached a milestone in terms of new scholars for the Axie Infinity platform and various other play-to-earn games. Yield Guild Games reported 20,700 unique Axie Infinity scholars in February, an increase of 8,500% since the same month last year when there were just 241. The milestone marks a “new record in the play-to-earn space” said YGG in an announcement shared with Cointelegraph. The play-to-earn scholarships allow new players to borrow a team of Axie NFTs from the Guild. Their in-game earnings are then split between the player, the community manager, and the YGG DAO. …

Despite extreme volatility in the price of crypto assets, venture funds continue to make strategic investments in the industry. In recent weeks, the focus has shifted to infrastructure developers in Web3, play-to-earn and GameFi — nascent industries that still have significant upside ahead. Cointelegraph’s latest VC Roundup provides a rundown of funding stories that didn’t get front-page coverage but still generated significant interest from the venture capital realm. Related: VC Roundup: Animoca leads NFT3 raise, Arca launches NFT fund and Alexis Ohanian broadens crypto exposure Pantera leads $32.9M Subspace Labs funding round Web3 infrastructure developer Subspace Labs concluded a $32.9 …

Cryptocurrency gaming has already changed the public perception of the industry, from one that was built on the foundations of fun to an opportunity for earning. Unfortunately, much of the potential is still limited due to the high barriers for new players. Among these are the perceived knowledge gap required to participate in the cryptocurrency industry, associated wallets and navigating unknown platforms. On the other side, players looking at testing a new gameplay model have found themselves discouraged by the initial costs to begin. The result is that a decentralized world designed for the population at large is being skewed …

Video games are more than just fun and games; they are often the foundation for vibrant communities, many of which are not recognized for the full extent of their contributions. The rise of blockchain technology is changing this narrative with a new class of games, engaging players through fun, competition and building while also making them part of the journey as a stakeholder and investor. The model, known as play-to-earn, incorporates NFTs and Web 3.0 to ensure that active community members are properly rewarded for their contribution to gameplay. This is often done by allowing builders and users to hold …

NFTs, the metaverse, and digital ownership. These Web 3.0 terms have broken their way into mainstream consciousness. As a result, we’re seeing projects and ideas in the blockchain space looking to change the way things work. Industries like music, art and gaming are key industries experiencing a change, with gaming specifically receiving a lot of attention via a new monetization mechanism: play-to-earn (P2E). P2E promises gamers a way to earn from their in-game activities through nonfungible tokens (NFTs). Traditional games have users playing a game for hundreds of hours, having nothing to show for it when they eventually move on. …

Many decentralized finance (DeFi) projects have arisen to provide earning opportunities to existing gamers. Unfortunately, the promise of profit alone is not enough to encourage gameplay in the long term, especially as the market becomes more saturated. Players are seeking out lore and complex storylines that involve a deep history, character and setting, one that a community can rally behind. Otherwise, they may risk being one of the blockchain games overrun by automated bots, who exist with the sole purpose of siphoning money from these gaming projects. In contrast, storylines are essential to the immersive elements of gameplay, enabling players …

FTX.US, the American arm of the global crypto derivative and spot exchange FTX, seems to be launching a new blockchain gaming unit. As per a job posting by the crypto exchange, the firm is looking for software developers for its upcoming blockchain and gaming unit. The new gaming unit will be focused on bringing more gaming developers to the blockchain-based gaming ecosystem that incentivizes players via crypto tokens and nonfungible tokens. The job posting revealed that the exchange is looking for software engineers with robust knowledge of the C# programming language and the Unity gaming engine. FTX didn’t respond to …

Nonfungible tokens have largely been acquired as proof-of-profile pictures (PFPs) that represent a brand, embody culture or ultimately, reflect as a static status symbol. Blue-chip NFTs like Bored Ape Yacht Club or Cool Cats were not originally backed by any tangible utility other than speculative value and hype, along with the promise of an illustrative roadmap, but in 2022, investors are looking for a little bit “more.” However, nonfungible tokens are finding their use beyond branding and status symbols by attempting to build out an existence in the Metaverse and some are ambitious enough to start within it. Altered State …

Since launching in 2018, Axie Infinity has amassed over 2 million daily active users (DAUs) and its decentralized exchange, Katana has a market cap of $5.5 billion, but this growth has not come without challenges. Axie Infinity’s in-game token, Smooth Love Potion (SLP) decreased nearly 93% from it's all-time high in July 13, 2021 of $0.39 as it faces uncontrollable inflation. As such, the team has announced it will significantly remove SLP issuance from the game, making it harder to farm. Gamers and guilds will in turn focus their attention on their strategic competitive edge and the potential increase price …