Monday, November 8th, 2021
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Your Weekly Update On All Things Crypto |
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Meta vs. The Metaverse: The Difference Between Facebook and Crypto's View of the Metaverse |
When Facebook rebranded itself as Meta Platforms, it in fact signaled its adoption of the metaverse, which is essentially an immersive digital environment where people may do all sorts of things such as play different games, work, take part in e-commerce, and socialize.
Facebook isn't the first organization to try to enter the so-called metaverse, and it won't be the last either. Nonetheless, its recent decision has created a lot of support for the notion of a metaverse, which has been in the works for a long time. As a matter of fact, Enjin, a blockchain company, recently established a $100 million fund in order to promote certain initiatives in its respective ecosystem which is primarily aimed at establishing a fully decentralized metaverse.
Entering the metaverse
As the cryptocurrency industry is largely online to begin with, it would thus make all the sense in the world for it to adopt the idea of a metaverse. Many in the cryptocurrency community have claimed that a primary objective of this industry is to eventually establish a digital space where individuals would be free to do whatever they like, such as play games and socialize. As it turns out, prominent figures and entities within this space also feel the same way.
Apart from Enjin, Coinbase’s stock had risen exponentially following Facebook’s announcement. Furthermore, Decentraland’s MANA token, which is the project’s native currency mainly utilized for the purposes of both purchasing and selling digital space within the metaverse, had recently risen from $0.80 to a new all-time high price of over $4.00. This sharp increase was undoubtedly due to Facebook's announcement about rebranding.
Powered by Ethereum’s blockchain, Decentraland has long since been working on the possible implementation of a metaverse, and so the interest for such a concept and what it can do not just for the cryptocurrency industry but for our society as a whole has existed for some time now.
What’s next?
Despite the interest in the aforementioned metaverse, there is still plenty of work to be done. Still, the future looks bright as was made evident by Animoca Brands' The Sandbox, a blockchain gaming platform based in Hong Kong, raising over $90 million as part of a fundraising round spearheaded by SoftBank Group. The investment enables gamers to create virtual worlds and exchange in-game NFTs and is yet another clear indication of the interest in the formation of a metaverse.
The NFT community in particular is bound to benefit greatly from a potential metaverse. No matter what happens from now, one thing is clear which is that we are definitely entering a new era both within the cryptocurrency and blockchain industry as well as outside of it.
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How RAILGUN Privacy Technology is Helping ICOs and Venture Capitalists |
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ICOs are a tricky business. You only have to look at the plethora of different launch strategies, vesting schedules, and tokenomic theories to see the sheer complexity young projects have to grapple with. Once released to the public, however, launches often follow predictable paths: an initial spike in the price followed by something akin to a Dutch auction as VCs and possibly developers sell off their tokens at the highest possible price.
Now, though, the innovative privacy tech of the RAILGUN Privacy System can provide new possibilities for future ICOs on blockchains capable of running smart contracts. Let’s consider how the system powered by zkSNARKs – the weird mathematical proofs that Vitalik Buterin himself believes will change the world for the better – could help ICOs going forward.
Within RAILGUN, transferring tokens from one account to another is entirely private. Allocations to VCs, developers, or other investors won’t even show up on Etherscan. Thus, potential investors are less likely to be put off by the presence of competing Venture Capitalists, not necessarily knowing the price previously paid for tokens or investment amounts. The dApp or protocol could negotiate with each early investor on the technical merits of their team and technology should they so desire, with each deciding on a fair price.
Without a privacy protocol, the blockchain is also never more than merely pseudonymous. This can be unappealing to VCs, who may have their actions scrutinized, imitated, or even countertraded if they are seen to be selling or accumulating their tokens. VCs and, indeed, developers have just as much right to sell tokens as anyone else in a properly decentralized world, but with investors always being able to see who is selling and when the lack of anonymity necessitates very careful management of held funds. For the owners of promising protocols, which may often require further development and funding, this can even remove a natural funding mechanism, limiting their options.
With the implementation of the relayer network, the RAILGUN Privacy system allows completely private DEX swaps to be made. Nobody can tell whether it was a developer, VC or small investor buying or selling. Vesting can be entirely private or even non-existent. The price paid and the final holders will not be public information unless the parties involved explicitly release that information. But at the same time, whether for tax, regulatory or PR purposes, attestations can be generated using Zero-Knowledge Proofs – to demonstrate, for instance, that the development team has not sold.
I rather suspect that once introduced to RAILGUN, venture capitalists and institutional investors alike might insist new projects make use of this powerful new privacy technology. As the name suggests, information is the most valuable commodity in the Information Age. Hence, being able to protect one’s alpha or investment strategy from prying eyes on an otherwise transparent blockchain is an advantage too significant to ignore.
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ANNOUNCEMENTS & FUNDING (SPONSORED) |
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A Match Made in Heaven: Fantasy Sports Meets Crypto Stock Trading |
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Fantasy trading contests are a fun and exciting crypto trading alternative that allows you to compete on your terms. These contests are based on fantasy sports mechanics and make it possible to double up your investment in as little as 15 minutes. Fantasy crypto has become the latest hit on the market, with millions of people gravitating to such fantasy finance platforms as StockBattle.
How does StockBattle work?
In StockBattle, you draft your virtual stocks or crypto portfolio and join head-to-head competitions with other participants. The best trader, whose portfolio grows more within a 15-minute contest, gets a reward. All contests are backed by real-time price data. It’s a simple concept that you’ll feel comfortable with using in seconds. However, you will need to analyze the market and rely on your intuition to create a winning portfolio.
Here is why you should try StockBattle
You get a generous 100% welcome bonus. The platform will match your first deposit up to $50. So, if you invest $20, it means you’ll have $40 to join the desired fantasy contests. You can join free competitions to understand how the system works. The prizes involve actual money, so you can use this as a starting point to begin competing for real cash. Check the current trends while choosing your portfolio. The website shows you statistics on each currency that you can include in your selection. That makes it easier to discover the current trends and identify market gainers.
The Contests Occur in Real-Time!
You don’t have to wait to see the outcome of a contest. Instead, you can follow the entire session’s live chart and see how the market trends move in actual time. Even if you don’t win, you’ll love the rush you felt during the session.
An Entire Academy Section That Helps You Win
StockBattle wants its competitors to enjoy fantasy finance contests and win. That’s why it created an Academy where you can discover solid winning strategies. The academy contains detailed explanations on fantasy finance but also shares tips and insights. For example, you can learn how to read graphs or hunt for undervalued assets.
If that sounds attractive, don’t hesitate to join StockBattle today. You can improve your knowledge and test yourself against hundreds of other traders!
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Facebook's Metaverse: How you can be part of it? | Metaverse explained
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The End of the Super Bubble vs. WAGMI
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Polkadot DOT preparing for liftoff at the end of 2021 | ETH deflatioanary BEFORE Ethereum 2.0?! |
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Zeptacoin (ZPTC) has just been listed on BitMart! |
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Bitcoin Ready For New ATH Following 2nd Consecutive Green Weekly Candle |
Altcoins Steal More Market Share as the Crypto Ecosystem Continues to Mature |
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DCentral Miami - Nov 30th - Dec 1st |
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DCentral is where the world converges to celebrate art, fashion, and creatives together with the future of finance.
Over 2 floors and 89,000 square feet of conference space at Miami Airport Conference Centre (MACC). The Venue will have 3 dedicated stages running concurrently throughout the 2 days with Keynotes, Panels, Workshops, & Talks dedicated to Decentralized Finance & NFTs.
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We at CryptoWeekly are not Financial Advisors. None of the content or opinions expressed in this newsletter should be considered financial advice. We highly recommend that you do your own research before investing in any project within or outside the cryptocurrency space. |
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