Traditional ideas about gaming, coming from both the firms developing the games and the players themselves, could slow down adoption of Web3 games, according to WAX co-founder and CEO William Quigley. Speaking to Cointelegraph at a Web Summit panel in Portugal on Nov. 3, Quigley said “trying to build a video game using a blockchain is a pain in the ass,” clarifying that many of the products on the market are based on browsers but utilize in-game digital assets on the blockchain. The WAX CEO added that nonfungible tokens, or NFTs, had given independent developers an edge in gaming, allowing …

Bear markets are always tough, but one of the positives is they clear the clutter and this allows legitimate projects to stand out. While most investors are focused on the latest centralized finance (CeFi) and decentralized finances (DeFi) scandal, the blockchain gaming sector has quietly weathered the storm better than other niches of the market. As shown on the chart above, all sectors of the market have experienced a noticeable decline in active users, but the gaming sector has proven to be the most resilient at retaining users as the bear market intensified. Transactions continue to rise Further proof of …

With blockchain slowly finding its way into the video gaming industry, sector veterans and executives of nonfungible token (NFT) blockchain WAX believe that there will be more connections between games and blockchain networks in the future. In a Cointelegraph interview, WAX head of publishing David Kim and WAX Studios head of game studios Michael Rubinelli shared their insights on NFTs, the metaverse and blockchain gaming. According to Kim, despite having less search interest on Google, engagement with games, the metaverse and NFTs is not dead. “On the WAX blockchain, we saw a doubling of the number of sales transactions at …

The rise of blockchain-based play-to-earn (P2E) gaming was one of the leading stories in 2021 as games such as Axie Infinity exploded in popularity and players realized that they could make life-changing amounts of money while also having fun. According to data from Footprint Analytics, the Ethereum network remains the leader when it comes to the number of games launched on-chain, but persistently high fees and network congestion have pushed a growing number of players to layer-2, cross-chain, bridge-supporting networks and competing blockchains that offer lower-cost transactions costs. Here’s a look at a few non-Ethereum blockchain networks that are gaining …

There was so much Nifty News this week that a second round-up was necessary to catch up on the latest nonfungible token (NFT)-related news. FLUF World and Snoop Dog partner for charity FLUF World, Beyond VR studio and Snoop Dogg teamed up to raised over $1 million via a one-day charity NFT auction on behalf of the Kiwi nonprofit organization Auckland City Mission. Seven FLUF World NFTs were paired with seven limited-edition Snoop Dogg-themed Burrows designed by Beyond and sold on OpenSea. The partnership with the rapper included a 500 Snoop Dogg studio drop announced this past week. What. The. …

For a product that began as a fad, nonfungible tokens (NFTs) have continued to gain momentum. Today there's virtually no facet of our lives that they haven't touched. Their popularity grows by the day as leading brands and new players look to integrate them into their businesses. NFTs owe their popularity to their convenient and interactive nature. They not only ease the exchange of physical products but also encourage interaction. Further, they've eased the process of authenticating physical things. The toy industry appreciates the importance of this asset class. The growing investment in this space shows just that. A case …

Why do crypto traders “buy the rumor, sell the news”? Simple. Because whispers of exchange listings or big-name partnerships reach very few people… while an article in Cointelegraph can reach hundreds of thousands of crypto enthusiasts in seconds. While insiders are quietly amassing tokens on rumors, the rest of us are completely ignorant of what may be coming. But with rumors, there are no guarantees. Which can lead to disappointment and serious loss of investment for those traders who gamble that they’re true… and end up wrong. So how can you possibly compete with thousands of other market participants when …

The roller coaster ride that is the cryptocurrency market continued its volatile ways on Dec. 8 as Bitcoin (BTC) price briefly slipped below the $49,000 level. Despite the setback, there are still clear signs that crypto mass adoption is taking place, a prime example being Visa's announcement the it will launch crypto consulting and advisory services for merchants and banks. Analysts expect that Bitcoin will continue to search for firmer footing and while this process plays out, Ether and a handful of mid and low-cap altcoins are booking moderate gains. Data from Cointelegraph Markets Pro and TradingView shows that the …

Bitcoin’s (BTC) recent foray back below $56,000 sparked a wide-ranging sell-off across the cryptocurrency ecosystem and talks of the price hitting $100,000 by the end of the year quickly morphed into concerns about an impending bear market that could thrust prices into the doldrums for a year or longer. While there appeared to be absolute carnage in the markets judging by peoples' reaction to the BTC pullback, not all tokens were negatively impacted and gaming tokens focused on the emerging Metaverse have managed to stay in the green. Data from Cointelegraph Markets Pro and TradingView shows that while the price …

The bull market narrative has returned now that the price of Bitcoin (BTC) managed to briefly climb above $50,500 on Aug. 23. A handful of altcoins have also seen their prices charge higher as the momentum in the market continues to build. For many tokens, their price has been buoyed by new exchange listings and cross-protocol collaborations that have brought a new level of activity and attention to their ecosystems. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were WAX (WAXP), Gnosis (GNO) and IOST. WAX benefits listing on Binance The …

As the debate surrounding the impact of major blockchains on the environment continues, an energy-efficient blockchain is releasing an eco-friendly NFT collection designed to reduce carbon emissions. The Worldwide Asset eXchange says Carbon Offset vIRL NFTs will make their debut in August 2021. For every dollar that is “composted,” the National Forest Foundation is going to plant one tree sapling, each of which will offset an average of one tonne of CO2 over their lifetime. WAX co-founder William Quigley said: “WAX is officially setting higher standards for responsibility across the blockchain. We’ve been working tirelessly to ensure our blockchain is …

Just a few days before Bitcoin (BTC) price plunged below $30,000, the NFT sector was dominating headlines for the second time in 2021, led by a month-long 972% surge in the price of Axie Infinity. Another NFT-focused protocol that has been gaining fundamental strength in recent months is Worldwide Asset eXchange, also known as WAX — a protocol that claims to “deliver the safest and most convenient way to create, buy, sell, and trade virtual items to anyone, anywhere in the world.” Data from Cointelegraph Markets Pro and TradingView shows that between June 27 and July 9, the price of …