Daily Archives: November 5, 2021

Metaverse Tokens See Triple-Digit 7 Day Gains, Crypto Market Cap Inches Toward $3 Trillion

Metaverse Tokens See Triple-Digit 7 Day Gains, Crypto Market Cap Inches Toward $3 Trillion

While bitcoin has been consolidating for a few days now, a number of other digital assets have seen solid seven-day gains. The two metaverse tokens sandbox and decentraland have skyrocketed over 170% during the last week. Crypto assets like loopring, crypto.com coin, and arweave have spiked in value more than 66% and up to 169% this week as well.

Sandbox, Decentraland, Loopring See Triple-Digit Gains This Week

The price of bitcoin (BTC) has consolidated above the $60K zone for a while now and market performance this week has been rather lackluster. While bitcoin (BTC) gained 0.5% during the last seven days, three top-ten cryptos saw double-digit gains this week.

The third-largest market in terms of overall valuation is held by binance coin (BNB), which is up 24.1% this past week and swapping for $610 per BNB. Solana (SOL) swapping for $235 per unit is up 20.9% this week. Additionally, polkadot (DOT) has climbed 21.9% and is currently changing hands for $51.29 per unit.

While binance coin, solana, and polkadot saw double-digit spikes this week, sandbox, decentraland, and loopring prices soared this week. Sandbox (SAND) spiked 175.3% and decentraland (MANA) jumped 172.9% in value. During the course of the week, loopring (LRC) lifted by 169.4%.

SAND is ranked number 78 out of the crypto economy’s 10,390 coins as the crypto asset has gained 8,039% year to date. Similarly, decentraland (MANA) has done extremely well during the last 12 months spiking 3,931% year to date. 12-month statistics for loopring (LRC) show the cryptocurrency is up 1,025% over the last 12 months.

Numerous Double-Digit Crypto Gainers — Bitcoin Dominance Close to Sinking Below 40%

Following those three-digit crypto gains, crypto.com coin (78.6%), arweave (66.2%), kadena (64.4%), holo (41.3%), chiliz (40.8%), basic attention token (39.4%), amp (39%), NEM (33.9%), omg network (31%), enjin coin (28.4%), and wonderland (25.1%) saw double-digit gains this past week.

The overall market capitalization of all 10,000+ coins in existence today is nearing $3 trillion at approximately $2.835 trillion on Friday, November 5. While there’s $152.28 billion in global trade volume, $83 billion of that volume is paired with stablecoins. Tether (USDT) commands $71.9 billion of today’s $83 billion aggregate total trade volume.

Out of the $2.835 trillion in value recorded on Friday, bitcoin’s (BTC) dominance is just above the 40% region with 40.6%. Ethereum, on the other hand, has 18.7% and numerous alternative crypto caps have increased dominance percentages.

What do you think about the past week’s crypto market action? What do you think about the triple and double-digit cryptocurrency gainers this week? Let us know what you think about this subject in the comments section below.

CoinMarketCap Updates and Verifies TON Crystal Listing; TON Now Among Top 5% of Assets by Market Cap

CoinMarketCap, the leading authority on real-time cryptocurrency prices and data, has just updated and verified its TON Crystal (TON) listing. Now TON, the native token of the FreeTON blockchain, ranks among the top 5% of cryptocurrencies by market cap.

This has been a year of remarkable development for the FreeTON project. The project started when Telegram was forced to halt the plans it had for launching its own TON blockchain network and associated token. Instead of letting the network go to the wayside, a community of people that believed in the value of the technology decided to try and launch it themselves by taking a grassroots approach to funding and a decentralized approach to governance.

The result is FreeTON, a network capable of processing millions of transactions per second, with cheap transaction fees, formidable security, a meritocratic token distribution protocol and a decentralized governance structure.

Around the original, open-source technology a robust ecosystem has flourished, drawing in developers and enthusiasts who believe in the merits of the project. Broxus, one of the development teams working on the FreeTON network, has built a wallet for TON Crystal and a TON Swap DEX powered by TON, where it can be exchanged for a variety of other currencies.

In addition, at the end of October the team started the rollout of the DAO protocol for the FreeTON Bridge. The FreeTON Bridge is a multi-network, second-layer solution that links the FreeTON blockchain with that of Ethereum, Polygon, Fantom, Binance Smart Chain and more. The Bridge has given users the opportunity of transferring their assets from the first-layer chain, where transactions are slow and costly, to a newer chain with better scaling capabilities and close to zero fees on transactions.

The greater autonomy that the FreeTON Bridge gives users makes it akin in function to a DeFi bank, where users have much more control over their assets and are offered a greater variety of options. As it is a decentralized platform, the community is democratically governed by a DAO comprised of token holders.

As the ecosystem continues to expand its capabilities, community members are trying to raise awareness among crypto enthusiasts and the general public about the unique capabilities of the FreeTON platform. Now, with the verified CMC listing, there is an easily accessible hub for general information about FreeTON, including the real-time price of TON Crystal, all the places where you can trade TON and continuously updated metrics on trading volume and market cap.

As it is generally the first place users and investors go to monitor the prices of the digital assets they own and the assets they are interested in, TON Crystal’s listing on CoinMarketCap is a significant development for both FreeTON users and the crypto community at large.

To remain in the loop on all the latest TON Crystal developments, register with CoinMarketCap and add TON to your watchlist.

 

About FreeTON:

FreeTON is a fast, secure and scalable network with near-zero fees, which can process up to a million transactions per second thanks to its unique dynamic sharding technology. As a development built off of the Durov brothers’ original TON concept, the FreeTON blockchain is designed to facilitate the widespread adoption of decentralized solutions by millions of users through an unprecedented combination of reliable security, industry-leading scalability and decentralization. The ecosystem features a number of products, including a DEX and bridges with other blockchains.


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FBI Public Service Announcement Warns of ‘Increased’ Crypto ATM, QR Code Fraud

FBI Public Service Announcement Warns of 'Increased' Crypto ATM, QR Code Fraud

The Federal Bureau of Investigation (FBI), America’s domestic intelligence and security service, has published a public service announcement concerning fraudulent schemes associated with cryptocurrency ATMs and QR codes. The FBI’s warning, published on November 4, highlights the presence of “scammers” directing their energy at unknowing victims.

US Federal Agency Warns of Increase in Crypto ‘Scammers’

On Thursday, the U.S. government entity the FBI published a public service announcement that explains “criminal actors” are maliciously utilizing cryptocurrency automated teller machines (ATMs) in order to compromise victims’ crypto funds. The FBI’s press release stems from the Internet Crime Complaint Center which has seen an “increase in scammers.”

“The FBI warns the public of fraudulent schemes leveraging cryptocurrency ATMs and Quick Response (QR) codes to facilitate payment,” the announcement notes. “The FBI has seen an increase in scammers directing victims to use physical cryptocurrency ATMs and digital QR codes to complete payment transactions.”

FBI Offers Public Tips to Avoid Fraud

It’s not the first time the FBI has issued public warnings in regard to the cryptocurrency ecosystem. During the first week of May, Bitcoin.com News reported on the FBI placing warning signs on crypto ATMs in the U.S., and in mid-July, the federal agency issued an industry-wide warning about possible attacks on exchanges and crypto asset holders.

The latest warning from the FBI’s Internet Crime Complaint Center offers a number of tips to protect the average citizen from malicious criminal actors. “Do not send payment to someone you have only spoken to online, even if you believe you have established a relationship with the individual,” the FBI’s press release says. “Do not follow instructions from someone you have never met to scan a QR code and send payment via a physical cryptocurrency ATM,” the federal agency’s warning adds.

What do you think about the FBI’s public service announcement regarding the increased presence of scammers leveraging crypto ATMs and QR codes? Let us know what you think about this subject in the comments section below.

Moving $25 Billion in BTC via Alternate Chains — There’s Now Over 400,000 Tokenized Bitcoins in Existence

As the end of the year approaches, the price of bitcoin has hovered above the $60K region and with 18.8 million bitcoin in circulation, bitcoin’s market valuation is over $1.16 trillion today. Meanwhile, the number of tokenized bitcoins in existence today has swelled significantly during the last three years, climbing to 408,210 bitcoin worth $25 billion today.

More Than 400,000 Wrapped, Synthetic, or Tokenized Bitcoins in the Wild

Wrapped, synthetic, or tokenized bitcoin has become a growing trend during the last two years and nine months. Bitcoin.com News reported on one of the first projects on January 30, 2019, the day the Wrapped Bitcoin (WBTC) project first launched. Since then, there have been a whole lot more tokenized bitcoin projects and by July 2019, WBTC in circulation eclipsed the Lightning Network capacity.

Now there’s a slew of tokenized bitcoin projects such as BEP2, HBTC, RENBTC, SBTC, PBTC, OBTC, TBTC, Mstablebtc, RBTC, and LBTC. Out of all the aforementioned tokenized bitcoin protocols including WBTC, there are approximately 408,210 tokenized bitcoins in circulation worth $25 billion today.

WBTC holds the lion’s share of tokenized BTC with 231,659 tokens in circulation today. The coin BEP2, otherwise known as BTCB issued by Binance, has around 105,099 tokens circulating today. Meanwhile, the other tokenized bitcoin projects have much lower supplies, and the third-largest tokenized BTC project is backed by the trading platform Huobi.

There’s 39,884 HBTC (Huobi BTC) today and the valuation of the entire HBTC market is $2.4 billion. HBTC is followed by RENBTC (16,818), SBTC (4,775), LBTC (3,367), RBTC (2,528), PBTC (1,786), OBTC (1,254), TBTC (792), Mstablebtc (248), respectively.

Ethereum, Binance Smart Chain Command Lion’s Share of Tokenized Bitcoin

Ethereum is the largest blockchain in terms of the amount of tokenized BTC leveraged on a network. Eight out of the 11 projects that issue wrapped, synthetic, or tokenized bitcoin products use the Ethereum chain. BEP2 (BTCB) stems from the Binance Smart Chain (BSC), RBTC is issued by the RSK network, and LBTC is issued by Blockstream’s Liquid network.

The two tokenized BTC projects that have seen exponential growth since launching are WBTC and BEP2. Both projects are the most dominant with an aggregate of 336,758 tokenized bitcoins or 82.49% of all the tokenized BTC in existence.

What do you think about the more than 400,000 tokenized bitcoins in circulation today? Let us know what you think about this subject in the comments section below.

BTC Futures Open Interest Continues to Rise Following Bitcoin ETF Listings Last Month

Bitcoin futures open interest continues to remain high after the launch of the first bitcoin exchange-traded fund (ETF) on October 22. While Binance commands $5.81 billion and leads the pack, CME Group holds the second-largest position in terms of bitcoin futures open interest (OI) with $4.1 billion or 16.84% of the aggregate OI.

Top Ten Derivatives Platforms Command More Than 97% of Bitcoin Futures Open Interest

Bitcoin derivatives have swelled quite a bit in recent times, and following the launch of the Proshares and Valkyrie bitcoin futures ETFs, bitcoin futures have seen significant market action. After Valkyrie’s ETF (Nasdaq:BTF) launched, the analytics group Skew tweeted that CME Group’s bitcoin futures OI reached a new all-time high.

During the first week of November, bitcoin futures open interest across all the crypto derivatives platforms is $24.32 billion according to coinglass.com statistics. The top ten derivatives platforms offering bitcoin futures command $23.68 billion or more than 97% of the OI. The cryptocurrency trading platform Binance is the leader in terms of bitcoin futures with $73 billion in global volume among 54 different crypto markets.

CME Group’s Bitcoin Futures Open Interest More Than 16% of Aggregate OI

In terms of bitcoin futures, Binance holds 5.81 billion in OI which accounts for 23.9% of all the BTC futures positions. Meanwhile, the world’s largest financial derivatives exchange, Chicago Mercantile Exchange (CME) Group, captures 16.84% or $4.1 billion in open interest.

Leaving out Binance and CME Group, the top ten crypto derivatives platforms in terms of bitcoin futures OI include exchanges such as FTX ($3.84B), Bybit ($3.63B), Okex ($2.21B), Deribit ($1.49B), Bitfinex ($827.71M), Bitmex ($752.43M), Bitget ($557.5M), and Huobi ($485.59M).

Bitcoin ETF Markets Follow Spot Market Trends

In terms of crypto derivatives, 627 crypto futures, and perpetuals across the board, FTX holds the second-largest global volume below Binance with $13.4 billion in 24 hours. Furthermore, much like bitcoin’s (BTC) spot market consolidation period, the bitcoin futures ETFs from Proshares (NYSE:BITO) and Valkyrie have followed similar paths.

While BITO swapped at a high of $43.28 in October, shares are currently swapping for $39.30. The exchange-traded fund BTF hit a high of $25.25 but is now changing hands for $24.23.

What do you think about the bitcoin futures action during the last few weeks following the ETF launches? Let us know what you think about this subject in the comment section below.

How to Invest in LuxFi – the Luxury Asset-Backed NFT Marketplace

For many people the luxury market is out of reach. However, with LuxFi, that is no longer the case. The platform combines blockchain technology, NFTs, and a luxury goods market open to anyone, anywhere. LuxFi will mark a significant shift in the way luxury goods are traded, and how people acquire them.

LuxFi is at the center of this transformation in the market. The platform aims to create a transparent, open and data-driven marketplace where users can safely transact with each other. Let’s break down all the components of LuxFi.

Non-Fungible Tokens (NFTs)

At the core of LuxFi are non-fungible tokens. An NFT is a type of crypto asset that is meant to reflect uniqueness. They were invented on the Ethereum network with a token design designated ERC-721.

The ERC-721 was created first to reflect collectible assets on the Ethereum network. The most famous example is CryptoKitties, which became the most popular DApp on Ethereum in 2017. The ERC-721 token standard quickly migrated to digital art where NFT marketplaces such as OpenSea, Rarible, amongst others, rose into prominence.

LuxFi identified an untapped market as luxury goods are unique pieces that often have no way to be compared with each other. They are the ideal physical objects to be transformed into NFTs. LuxFi effectively uses NFT technology to create digital authentication certificates of the physical luxury assets.

This process is known as “tokenization” and involves bringing assets from outside the blockchain into the network. LuxFi understands that NFTs are the perfect technology that could positively impact the global luxury market.

With Luxfi, each NFT is backed by a luxury asset. The NFT contains all information and history of luxury items on the blockchain. As LuxFi is using product fingerprint technology to tie the physical product with its NFT counterpart, a Product Fingerprint acts as the physical identifier. Tokenization and the creation of NFTs is heavily interlaced with LuxFi’s NFT marketplace, a platform that unlocks the true value and increases the liquidity of real-world luxury assets.

The LuxFi NFT Marketplace

NFTs give you a way to quickly and safely verify the authenticity of any luxury item, but that’s only the start. People also need a way to transact the various items in a secure marketplace that is transparent and open.

LuxFi has designed an entirely original marketplace where the tokenized luxury pieces can be traded. Here, LuxFi is working directly with brands and retailers. The platform creates a unique way for people to buy, sell and invest in luxury assets that are authenticated by brands or professional verifiers, using traditional payments or cryptocurrencies.

The new owners don’t necessarily need to redeem the physical products for future reselling, as the NFTs can be transferred multiple times before the final owner decides to acquire the physical items. In this way, investors can quickly trade luxury items to profit without having to worry about shipping, storing, and transferring the physical item. The users can also be sure that they can receive their items if they wish to own the underlying asset.

Even more so, LuxFi decided to go with an extra step. The luxury goods market often lacks information regarding prices and valuations. The platform leverages the power of big data to monitor transactions in the market and update the information feeds of the platform. Now, buyers and sellers have access to objective and up-to-date information that will help them make the best choices.

The LuxFi marketplace is a complete platform for luxury goods buyers, sellers, investors and collectors. All of the participants will be able to profit from a state-of-the-art space designed to transform the luxury market with the use of blockchain technology.

LuxFi $LXF Token

$LXF token is the native asset of the LuxFi platform and ecosystem. Users who make use of $LXF are buying into the economic model of the LuxFi platform. As such, the token is a reflection of the state of the services provided by LuxFi. The $LXF token has multiple roles in LuxFi’s expensive ecosystem, such as:

  • Staking: Stake $LXF to join tiered memberships, earn yield and win exciting asset-backed NFT mystery boxes.
  • Authentication: Use $LXF to authenticate the real-world asset.
  • Product Tokenization(NFT): Use $LXF to convert physical assets to NFTs and list on the marketplace.
  • Redemption: Use $LXF to redeem the physical assets.
  • Verification: Use $LXF to verify if the physical item is the original and authenticated asset of the NFT.
  • Providing Data: Earn $LXF for providing data to enhance the data intelligence system.
  • Referral Rewards: Earn $LXF by referring friends and users to the network.
  • Custodian Services: Use $LXF to store the assets in local custody.

LuxFi has designed a tokenomics model where all the features of the platform reinforce the value of $LXF. This system is meant to sustain the long-term use of the token, and as the platform expands, so will the utility of the native token.

Upcoming IDO/IEO and TGE

LuxFi will be doing their launchpad on MantraDAO, Trustpad and Bitmart. These three launchpads will be hosting the platform’s IEO and IDO on November 8th.

$LXF token will be listed on UniSwap and BitMart on November 9th. From that moment on, trading can start on public platforms for the entire crypto community.

To know more about LuxFi’s upcoming launch, visit the official social media websites listed below.

Bridging the Gap Between Luxury Assets and NFTs

LuxFi identified a need in the luxury market for a global and data-driven platform that allows secure trading of authenticated items. LuxFi is creating a new business use case for NFTs that goes beyond digital art. NFTs on their platform are the bridge between the physical and the digital to create a friction-free experience in the luxury market. In the near future, asset-backed NFTs could be the new revolution for e-commerce.

About LuxFi

LuxFi is the world’s first asset-backed NFT marketplace for luxury assets, where people can buy, sell and invest in luxury assets using cryptocurrencies and traditional payments. They are able to eliminate counterfeiting while minting an NFT on a multi-chain blockchain network, with a focus on luxury assets that hold value well and have a high reselling value. They leverage on a big data intelligence system and unique algorithm for automated data collecting and data processing, the value of each NFT on LuxFi platform is backed by real-world data.

 

Website: https://www.luxfi.io

Twitter: https://twitter.com/luxfiofficial

Telegram Announcement Channel: https://t.me/luxfinews

Telegram Official Group: https://t.me/Luxfiofficial

Medium: https://luxfiofficial.medium.com

Reddit: https://www.reddit.com/r/LuxFiOfficial

Youtube: https://www.youtube.com/channel/UCNTeHyVaUX-0OE7kMNXlCOw


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Kazakhstan Imposes Purchase Limits on Retail Crypto Investors

Kazakhstan Imposes Purchase Limits for Retail Crypto Investors

Authorities in Kazakhstan have introduced restrictions on the amounts of cryptocurrency retail investors can buy on local exchanges. Officials explained the decision citing the need to protect private individuals from exposure to the risks associated with digital financial assets.

Investors in Kazakhstan Can Buy up to $1,000 in Crypto a Month Without Declaring Income

Kazakhstan has adopted limits for crypto purchases made by retail investors on the exchanges registered at the Astana International Financial Centre (AIFC), the local business news portal Capital reported, quoting the Astana Financial Services Authority (AFSA).

The publication notes that the respective amendments to the rules governing activities at the financial hub in Nur-Sultan were proposed by AIFC’s Financial Services Regulatory Committee in July and adopted in late October. Commenting on the changes, AFSA emphasized:

The limits are introduced to protect the interests of retail investors, since transactions with digital assets are associated with high risks, up to a complete loss of invested capital.

The authority has introduced two limits. Without confirming their income and assets, retail investors will be allowed to acquire up to $1,000 a month in cryptocurrency. If they want to purchase more coins they will have to declare their income and assets. In this case, the non-professional investors will be able to spend up to 10% of their annual income, or 5% of their assets, but not more than $100,000.

The AFSA further noted that a roadmap for the development of the crypto market in Kazakhstan has been approved and the authority is now taking steps to implement it by 2022. A pilot project for the opening of cryptocurrency exchanges at the financial center in the capital city will be launched toward the end of this year, officials revealed and elaborated:

Throughout 2022, crypto exchanges will operate in test mode. At the end of the pilot project, if necessary, changes will be made to the national legislation, as well as to the AIFC acts.

According to Arman Konushpaev, vice president of the Blockchainkz Association of Developers and Users of Blockchain Technology, imposing limits on non-professional investors is a global practice. The restrictions will protect them from financial losses when investing in cryptocurrency, including from various fraud schemes, he added.

However, Konushpaev also remarked that there are a few options for retail investors to buy and sell cryptocurrencies outside the authorized exchanges operating at the Astana International Financial Centre. Deals can be agreed upon through Telegram channels and Whatsapp chats, for example, or via decentralized trading platforms, he explained.

Do you expect Kazakhstan to develop a thriving cryptocurrency market? Tell us in the comments section below.

Sky Mavis Launches Katana, a Native Dex for Its Ronin Sidechain

sky mavis

Sky Mavis, the company behind the development of Axie Infinity, has launched Katana, the first decentralized exchange for Ronin, its custom-made Ethereum sidechain. Katana will feature all of the tokens used in Sky Mavis’ products, including SLP and AXS, the native tokens of the Axie Infinity ecosystem. This new product will allow users to earn rewards for providing liquidity.

Axie Infinity’s Katana DEX Launched

Sky Mavis, the developer of Axie Infinity, a breakthrough play-to-earn-based blockchain game, has launched Katana, a new decentralized exchange on top of Ronin. Ronin is Sky Mavis’ own tailored Ethereum sidechain, developed to satisfy the needs of users that complained about the high fees they had to pay for transacting on Ethereum’s Layer 1 (L1). With Katana, Sky Mavis makes it easier to manage Axie Infinity and introduces an alternative way of earning yield for users.

As with most decentralized exchanges, Katana will feature liquidity pools to serve other users in facilitating the exchange of their tokens on top of the same Ronin sidechain. One of the most interesting proposals of the exchange is the introduction of USDC as a supported token, making it easier for players of Axie to park their earnings in stablecoins to avoid volatility.

Sky Mavis Introduces Ron Token, Prices React

Katana also brings changes to the economics of Ronin. Until now, Ronin transactions were free, and each user had a quota of 100 free transactions per day. Going forward, however, the native token of the Ronin sidechain, ron, will be needed as gas to pay for transactions. Ron will also be offered as a reward for staking liquidity in Katana, this being the main incentive behind it. Sky Mavis stated they would be offering more information on ron specifics soon.

The first liquidity pools to be available in Katana will be AXS/ETH and SLP/ETH, which will distribute half of the rewards offered each.

The launch of the Katana decentralized exchange boosted the price of AXS and SLP, the two tokens of the Axie ecosystem. AXS hovered around the $140 mark on November 3, while on November 4 (EDT) the token reached a price peak of almost $160. SLP, the “wage” token of players in the Axie platform, shot up vigorously, going from $0.06 to a peak of $0.11, almost doubling its value in just a day.

What do you think about the launch of Katana, Sky Mavis’ first decentralized exchange? Tell us in the comments section below.

Mintverse Closes Successful Seed Round of $1.5M

Mintverse Closes Successful Seed Round of $1.5M

PRESS RELEASE. Dubai, UAE, 5th November 2021 — Mintverse, a new and improved NFT service platform, closes their seed round raising $1.5 million from private investors. Led by A&T capital, and other large investment firms including Mirana Ventures, Longling Capital, Genesis Block Ventures, FBG, Fenbushi Capital, Cipholio Ventures, Nebulas, Ceras Ventures, NDG and other individual angel investors, Mintverse aims to be a community-based initiative to provide products and services that explore future use cases of NFTs.

It is expected to feature a completely decentralized service platform and incubator for more than just NFT based projects. Mintverse will use the funds raised to further develop the existing platform and release future product offerings to tackle the current problems faced within the industry.

Mintverse founder was thrilled by the response from the large list of investors and said, “The support we have gained during this round of fundraising has been astounding and we look forward to continuing our progress in order to better the NFT ecosystem.”

Mintverse is looking to provide their services through a variety of different product offerings, tapping into the world of NFTs. At the initial launch of the platform, the Mintverse team will start by leveraging the power of NFT marketplaces and enter the world of GameFi.

Empowering both the Ethereum network and Binance Smart Chain, the service platform will be able to engage with the masses of NFT creators, collectors and GameFi projects. According to the roadmap, Mintverse will eventually tap into further comprehensive product offerings including the anticipated launchpad feature, giving not only NFT and crypto projects but also sole NFT creators who struggle with the lack of monetary incentives in the industry, the opportunity to raise funds.

Private investors have expressed their approval for the first round of fundraising. Jasmine Zhang from A&T Capital was thrilled about their investment into Mintverse and stated, “With the ever growing NFT ecosystem, there are visible gaps in the industry. During my conversation with the founder of Mintverse, we saw their project vision and the current glaring problems they are working towards solving. The NFT market has a long way to go in terms of growth and creating a better understanding for those who are still unsure of its potential and are skeptical of what is to come. At A&T Capital, we believe these issues will slowly start to diminish with a platform like Mintverse and are delighted to be a part of this journey.”

 

About Mintverse

Mintverse is a service platform, where users can create, discover and collect an array of digital items and NFTs while also being able to crowdfund NFT art, crypto & NFT projects. Mintverse is working towards its vision of mass NFT adoption while further developing existing use cases and exploring future use cases of the NFT data structure. Backed by major investors and partners, Mintverse has the resources to develop the growth of the NFT community by tackling the current existing problems such as high gas fees, lack of monetary incentives for creators, and insufficient utility for current NFT assets. They are able to do this by implementing a variety of product offerings including, but not limited to, NFT marketplace, gaming incubation, launchpad, governance DAO and more.

Website | Discord | Telegram | Medium | Twitter

 

Contact

[email protected]

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Microsoft to Offer Mesh, a Corporate Metaverse for Teams

microsoft

Microsoft has announced the launch of a metaverse-inspired feature for its Teams app called Mesh. Mesh will allow users to introduce personalized avatars in digital worlds, making meetings more immersive. The platform is being announced on the heels of Facebook’s pivot to becoming a metaverse-dedicated company, changing its name to “Meta.”

Microsoft Embraces the Metaverse

Software behemoth Microsoft has announced it will release a metaverse-inspired solution for its Teams app called Mesh. With Mesh, users in meetings will feel more immersed because the app will introduce avatars — digital representations of the user — for applications like team calls. Furthermore, the avatars will be able to meet and greet each other in an immersive, digital world.

This new feature will be available for users with smartphones, laptops, or even holographic devices. According to Jeff Teper, a Microsoft corporate vice president, Mesh is a way to:

Signal we’re in the same virtual space, we’re one team, we’re one group, and help take the formality down a peg and the engagement up a peg. We’ve seen that those tools have accomplished both goals of helping a team be more effective and also helping individuals be more engaged.

Playing Catch-Up

While the feature has been in development for some time now, Microsoft’s move feels like it comes right on the heels of the recent Facebook name change to Meta. The corporate and social worlds are starting to value these kinds of services and to offer them as part of a new conception of social contact and work in the aftermath of the Covid-19 pandemic.

However, metaverse proposals are not new, and many blockchain projects have already been presenting similar self-contained worlds. One of these is a relatively obscure blockchain project called Decentraland, which was launched in the boom of the ICO season back in 2017. Founded by Ariel Meilich and Esteban Ordano, the project established a virtual world where plots of land can be bought by individuals and companies to establish virtual stands or other useful digital representations.

The Sandbox is another similar project. Owned by Animoca Brands (which recently received funding from Ubisoft, a leading game development company), the project also features virtual land and assets. These assets can be created by the user and monetized, too, as objects are automatically turned into NFTs, thus introducing the concept of true ownership in the digital world.

What do you think about Microsoft Mesh and its virtual bet? Tell us in the comments section below.