Daily Archives: November 24, 2021

Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets

Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets

The monetary authority in Moscow, the Bank of Russia, wants those who use cryptocurrencies against the law to be held accountable. The financial regulator has proposed the introduction of legal liability for some operations with digital assets which it considers illegal.

Central Bank of Russia Aims to Prevent Circulation of Decentralized Currencies

Cryptocurrencies in the Russian Federation, as well as related activities, remain only partially regulated, mainly through the law “On Digital Financial Assets,” which went into force at the beginning of this year. One of the aspects that is still unclear is whether digital coins can be used to pay for goods and services.

The Central Bank of Russia (CBR) has remained consistently opposed to allowing payments with bitcoin and the like. The authority claims these are all “money surrogates” that are banned under current Russian legislation which recognizes the ruble as the only legal tender in the country that spans 11 time zones.

Bank of Russia Pushes to Introduce Liability for Illegal Use of Digital Assets

The CBR now wants to introduce legal liability for what it views as “illegal circulation of digital financial assets.” Remarkably, the push is part of its plans for the “creation of an enabling environment for the introduction of new technologies and support for innovation in the financial market” – two of the bank’s key “strategic directions” under the banner of “promoting digitalization.”

The proposal has found its place in the Bank of Russia’s program document titled “Main Directions for Financial Market Development of the Russian Federation” for the period until 2024. The project has been recently approved by its Board of Directors for submission with the State Duma, the lower house of the Federal Assembly.

In order to develop innovative financial instruments, the CBR says, a number of federal laws aimed at comprehensive legal regulation for digital financial assets and utilitarian digital rights must be adopted. Another aspect that needs to be addressed, according to the central bank, is the taxation of transactions involving these rights and assets, a procedure for which should be established.

Bank of Russia further notes that efforts to launch a digital version of the national currency are ongoing. The introduction of the ruble’s third form, after cash and bank money, requires a string of legislative changes, the monetary authority points out. Earlier in November, the head of the parliamentary Financial Market Committee, Anatoly Aksakov, indicated that deputies at the Duma prepare to amend 13 Russian laws and codes to accommodate the CBDC.

Meanwhile, members of the house have voiced concerns that the digital ruble may pose risks to the banking sector and information security. At the same time, Bank of Russia’s Chair Elvira Nabiullina has recently stated that the new currency is what the Russians need as it will provide them with an alternative to cryptocurrencies and stablecoins while enabling cheap and reliable payments.

The CBR started contemplating a CBDC in 2018 and decided to explore the possibility of issuing one last year. A consultation paper was published in October 2020 and in April 2021, the authority released a digital ruble concept. In June, this year, the authority formed a pilot group with over a dozen banks. It plans to complete the platform’s prototype in December and begin trials in January 2022.

Do you think the Bank of Russia will convince lawmakers to introduce legal liability for the illegal use of cryptocurrencies? Let us know in the comments section below.

Spaceseven’s Game-Changing NFT Marketplace

PRESS RELEASE. Recently, on the 23rd of November, SpaceSeven launched its state-of-the-art NFT marketplace. The SpaceSeven marketplace is the first of its kind — one of the few — if not the only scaled e-commerce, fully regulatory compliant platform.

By combining powerful NFT marketplace technology from Tacans, a Swiss-based Software development house, and Venture Builder, with an R&D center in Ukraine and the vanguard Concordium blockchain platform, SpaceSeven achieved a world-class NFT Marketplace that is expected to fundamentally transform artists’ exposure and recognition.

With the Concordium blockchain platform, SpaceSeven is able to offer significantly lower gas fees — literally a fraction of the cost of Ethereum or other proof-of-work protocols — and at the same time facilitate transaction speeds that are ten times faster.

Packed with several game-changing features like ‘Universes’ that deliver unique experiences through exclusive customized galleries, SpaceSeven is undoubtedly redefining NFT marketplaces as we knew them. The marketplace allows users to easily add NFTs from multiple networks and supports payment using crypto and credit cards.

Who is Behind SpaceSeven?

SpaceSeven is a multi-blockchain NFT marketplace built by Tacans with Concordium as its primary blockchain. Unlike other blockchains, Concordium is a Reg-DeFi-centric Layer 1 blockchain with an ID layer at the protocol level and fast and real finalization. That means Concordium can deploy a privacy-centric KYT design that protects legit users but at the same time, it can revoke the anonymity of certain transactions if needed for safety reasons.

Concordium’s unique ecosystem has empowered Tacans, the venture builder, to launch SpaceSeven, an NFT marketplace that is truly sustainable, secure, and regulatory-compliant.

Lars Seier Christensen – Co-Founder & Group Chairman of Concordium and SpaceSeven

“I have been an investor, collector, and lover of art for many years. I have never seen a greater opportunity for innovation, reaching new buyers, new creative formats, and additional income streams for galleries and artists than the current development in the NFT industry. SpaceSeven is our contribution to this historic opportunity.”

What Problems Does SpaceSeven Solve?

With Concordium as its primary chain, SpaceSeven hit the ground running with solutions to overcome the main challenges in the industry.

Regulatory Compliance

Designed with a built-in user identity layer at the protocol level, Concordium ensures that a user’s identity is confirmed and every transaction is trackable. However, its Zero-Knowledge Proof design ensures two parties can interact and transact without revealing unclaimed information of the counterparty.

Low and Fixed Fees

Concordium’s transaction fees are well-defined and do not link to the value of an asset. Instead, they are fixed and backed into the protocol. The proof-of-stake model combined with incentive mechanisms ensures that transaction costs stay low and fixed.

Carbon-Net Neutrality

With Concordium’s proof-of-stake model that consumes minuscule amounts of energy compared to other blockchains like Ethereum and Bitcoin, SpaceSeven is proving to be one of the most eco-friendly NFT marketplaces.

Security

For better protection against fraud, Concordium transactions are assigned an encrypted ID. Furthermore, with Concordium’s two-layer consensus design, SpaceSeven remains secure if cybercriminals hijack less than 50% of its stake.

Decentralization

SpaceSeven aims to reduce entry barriers to the NFT market for digital artists, creators, and celebrities. The game-changing features listed above have enabled SpaceSeven to develop a secure, cost-effective, user-friendly NFT platform where all creators can mint and sell their NFTs at a fixed price or in an auction.

Wallet Integration

SpaceSeven will provide support for CryptoX Wallet in our NFT marketplace platform. This wallet will facilitate the CCD token, Concordium’s native token.

How to Access SpaceSeven?

Our platform is available for users internationally. To mint, buy, or sell NFTs on the SpaceSeven NFT marketplace, visit our website.

Innovative Partnerships

ENTER Art Fair 2021

ENTER Art Fair 2021 recently signed a partnership with SpaceSeven. The world-renowned art fair based in Copenhagen has over 61 galleries, each minting one NFT. ENTER Art Fair aims to push beyond the confines of artistic conventions and experiment with innovative platforms. This ambition fits perfectly with what SpaceSeven stands for. Over 61 galleries participated in this event. Each gallery chooses only one of their top-rated artists to mint and sell a premium NFT on the SpaceSeven NFT marketplace. The event was held between August 26 – August 29, 2021.

DOROFEEVA NFT GAME

NFTs are now a global phenomenon and the launch of an NFT game with the participation of celebrities in Ukraine is raising great interest in the country. DOROFEEVA, one of the top Ukrainian pop singers, whose tracks are in the top charts of digital platforms, fashion influencer, blogger is the first one to join the platform. On the 27th of November, she will present the game being developed on the marketplace at The Conference.NFT together with SpaceSeven in Kyiv.

About SpaceSeven

SpaceSeven is the world’s first NFT marketplace built on the eco-friendly and highly effective Concordium blockchain as its primary chain. SpaceSeven allows artists to mint NFTs at low fees, showcase their work in exclusive universes, and sell them effortlessly.

Media Contact

Company: SpaceSeven AG

Contact: Philip Mostert

E-mail: [email protected]

Website: https://spaceseven.com

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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.

Play-to-Earn Gaming Guild Raises $18 Million in Funding Round Led by Animoca Brands

A play-to-earn (P2E) blockchain gaming guild has raised $18 million in a Series A financing round according to an announcement on Wednesday. Avocado Guild detailed that the firm raised the funds from investors such as Animoca Brands, Goldentree Asset Management, Three Arrows Capital, and Solana Ventures.

P2E Organization Avocado Guild Raises $18 Million From Strategic Investors

According to an announcement from Avocado Guild on Wednesday, the organization raised $18 million from strategic investors. The capital raise stemmed from the firm’s Series A funding round which gave Avocado Guild an overall valuation of around $200 million.

Avocado Guild is essentially a P2E blockchain gaming guild that leverages various successful game titles in order to support the gamers. Blockchain gaming has been a big deal this year and according to a recent study, a majority of software engineers dedicated to the realm of games are beginning to incorporate blockchain technology.

“At the heart of every NFT player is the desire to succeed and lead a better life,” the Avocado Guild website details. “Avocado Guild (AG) is a play-to-earn guild that aims to unlock life-changing opportunities and rewarding experiences for its community members.” According to the organization, the Series A financing was led by Animoca Brands and QCP Soteria Node.

In addition to QCP Soteria Node and Animoca Brands, Binance Smart Chain, Goldentree Asset Management, Polygon Studios, Three Arrows Capital, and Solana Ventures participated in the financing round. According to Avocado Guild, the organization aims to expand to different P2E blockchain games and also become a decentralized autonomous organization (DAO) called Avocadodao.

Play-to-earn blockchain gaming has been a hot subject this year and many believe it is the future of online and multiplayer gaming, while many others disagree with that vision. Ubisoft mentioned blockchain gaming in a recent earnings report and the executive vice president of gaming at Microsoft recently addressed NFT gaming. Game giant Square Enix has been contemplating entering the blockchain gaming industry and Morgan Stanley believes the metaverse is the next big investment theme.

What do you think about Avocado Guild raising $18 million and its plans to become a DAO? Let us know what you think about this subject in the comments section below.

Ethereum Has Burned More Than a Million ETH Over the Last 3 Months

111 days ago, the Ethereum network implemented the London hard fork upgrade which added a mechanism (EIP-1559) that changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary. Since then 1 million ether has been burned or the equivalent of around $3.8 billion worth of ethereum using today’s exchange rates.

Over a Million Ether or $3.8 Billion Burned to Date

The second-largest crypto asset in terms of market capitalization, ethereum (ETH) has an overall valuation today just above $500 billion. Ethereum’s market capitalization represents 18.8% of the $2.7 trillion crypto economy. Three months ago, on August 5, 2021, the Ethereum blockchain upgraded and added various features to the consensus rules. The most transformative included EIP-1559 and EIP-3554, and EIP-1559 in particular created a new fee rate scheme that allows the network to burn a portion of ether.

EIP-1559’s summary hosted on Github states:

There is a base fee per gas in protocol, which can move up or down each block according to a formula which is a function of gas used in parent block and gas target (block gas limit divided by elasticity multiplier) of parent block. The algorithm results in the base fee per gas increasing when blocks are above the gas target, and decreasing when blocks are below the gas target. The base fee per gas is burned.

Since the new feature was introduced, metrics from Dune Analytics indicate 1,001,212 ether or $3.8 billion worth of ethereum using today’s exchange rates has been burned.

At the time of writing, etherscan.io’s API which shows the circulating ETH supply indicates that there’s 118,472,428 ether in existence today. The biggest ethereum burner today is still the non-fungible token (NFT) marketplace Opensea with 110,081 ether or $398 million burned to date.

The burning stemming from Opensea usage took place across 7,941,975 ethereum transfers. Regular ethereum transfers are tethered to 94,800 ETH burned since the upgrade in August. The decentralized exchange (dex) platform Uniswap V2 (version 2) is the third-largest ethereum burner since the upgrade. 92,239 ether or $373 million worth of ethereum using today’s exchange rates has been burned stemming from Uniswap V2 usage.

The stablecoins tether (USDT) and usd coin (USDC) also contribute to a lot of ethereum burning. While tether (USDT) is the fourth largest burner behind Uniswap V2, USDC is the seventh-largest ethereum burner today. Tether across 11,499,787 transfers has attributed to 53,988 ether burned or $210 million. USDC has contributed to the burning of 20,042 ether today or $77 million. Other applications like Metamask, 1inch, Sushiswap, and Axie Infinity also contribute to a lot of ether burning.

What do you think about the 1 million ether burned since August 5? Let us know what you think about this subject in the comments section below.

India Lists Cryptocurrency Bill to Be Taken up in Parliament — Crypto Legislation Expected Before Year-End

India Lists Cryptocurrency Bill to Be Taken Up in Parliament — Crypto Legislation Expected Before Year-End

The government of India has listed a cryptocurrency bill to be taken up in the upcoming session of parliament that starts next week. The bill seeks to prohibit cryptocurrencies with some exceptions. It will also create a facilitative framework for a digital rupee to be issued by the Reserve Bank of India (RBI).

Indian Government Pushes for Crypto Legislation Before Year-End

The Indian government has listed a cryptocurrency bill to be taken up in the winter session of Lok Sabha, the lower house of India’s parliament, according to the legislative agenda for the upcoming session released Tuesday.

The title of the bill is “The Cryptocurrency and Regulation of Official Digital Currency Bill 2021.” The government expects it to be introduced and passed in the same parliamentary session, which is set to commence on Monday, Nov. 29, and will conclude on Dec. 23.

According to the government’s description, the bill aims “To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India. The bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”

This is the second time the Indian government has listed a cryptocurrency bill to be taken up in parliament. In January, the government listed a crypto bill for the budget session. However, it was not taken up. The title of the bill and the accompanying description for the winter session are exactly the same as the listing for the budget session of parliament.

Tanvi Ratna, CEO of Policy 4.0, commented on the news of the Indian government listing the crypto bill Tuesday:

Yes, it’s expected that the government will pass legislation in this session itself. However, it may not be a complete legislation.

She added: “Operational & implementation questions are likely to be debated in the budget session only.”

Ratna believes that cryptocurrencies like bitcoin (BTC) or ether (ETH) could be allowed in some form. Noting that “The exemptions that are being mentioned are ones routed through GIFT City,” she clarified:

Private cryptocurrencies are not privacy coins but non-rupee currencies. It is expected that some basic coins such as BTC, ETH etc could be allowed in some form.

A senior government official told Reuters Tuesday that the plan is to ban private crypto assets ultimately while paving the way for a new central bank digital currency (CBDC).

The RBI has previously said that it is working on a digital rupee, which is expected to be launched in phases. The central bank has repeatedly said that it has major concerns about cryptocurrency.

However, since the current crypto bill has not been made public, Indian crypto experts have urged investors not to panic sell.

The only bill that has been made public is the original one drafted by the inter-ministerial committee (IMC) headed by former Finance Secretary Subhash Chandra Garg. Published in July 2019, the title of that bill was “Banning of Cryptocurrency & Regulation of Official Digital Currency Bill 2019,” which is slightly different from the one listed to be taken up in the upcoming session of parliament.

The bill drafted by the Garg committee has been seen as outdated as the crypto ecosystem has significantly evolved since the bill was published. Even Garg himself admitted that when the bill was drafted, crypto was viewed more of a currency, rather than an asset. He now believes that crypto assets should be regulated. “Regulate, control cryptocurrencies but allow the crypto assets, encourage the crypto services,” the former finance secretary said in May.

Last week, Indian Prime Minister Narendra Modi urged all democratic countries to work together on bitcoin and cryptocurrencies to ensure that they do not fall into the wrong hands. He also chaired a comprehensive meeting on crypto. Furthermore, India’s Parliamentary Standing Committee on Finance held a meeting with representatives from the crypto industry.

Do you think India will ban cryptocurrencies like bitcoin and ether? Let us know in the comments section below.

Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses

Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses

The man who was at the helm of the company behind what’s become known as Greece’s first cryptocurrency has allegedly caused the coin’s price to sink as he disappeared this month. The executive was off the radar for about two weeks before finally telling the press he will soon return, rejecting accusations he has crashed the market of the crypto.

Hellenic Coin Plummets Amid Crypto Investors’ Worries About Whereabouts of Coin’s Creator

Vangelis Tsapas, someone with various business interests and a sponsor of a basketball team in Greece, upset investors in a cryptocurrency he created when he suddenly vanished earlier in November. The price of Hellenic Coin (HNC) plunged as he became unavailable – from over $1.20 on Nov. 8, to under $0.34 at the time of writing. That’s after reaching its all-time high of $4.84 on June 14, 2021.

Speculations emerged that Tsapas had sold his HNC stash causing the slump, an accusation he has denied. Before his recent resignation, the entrepreneur was the CEO of HNC Revolution, the company managing the coin which was launched by a group of blockchain developers and finance experts in 2015 as the “first Greek cryptocurrency,” the business news portal Newmoney.gr recalls. It was conceived both as an investment vehicle and a payment instrument aimed at facilitating digital transactions for the Greek tourism industry and has since been bought by people from around the world.

While raising concerns among HNC Coin holders, his disappearance alarmed players and other staff at Ionikos Nikaias B.C. too, as he has been supporting the club financially. Tsapas, who is involved in catering and shipping as well, has also reportedly angered Qatar’s prime minister as his company hired to manage Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani’s superyacht, Al Mirqab, failed to pay its crew their wages.

Despite the HNC Coin clearly starting to lose value after Mr. Tsapas stopped answering his phone, he has recently rejected allegations he has caused the drop by selling his coins. Speaking to the Proto Thema newspaper this week, the “phantom” businessman insisted he had actually given away the Hellenic crypto for free, blamed his close associates for the “noise” and announced he will soon return to his business obligations. Claiming media reports are were responsible for the plummeting price, he insisted his absence didn’t play any role and stated:

It’s falling, right, in which I, of course, have no involvement. Because I have never sold a single cryptocurrency. I do not have any, because I transferred everything last Friday for free, as I have the right, without taking a single euro.

Tsapas added he’s holding talks with a new management team to ensure the viability of the crypto. Meanwhile, HNC Coin’s current leadership has refuted him and informed the public that he is not heading the project anymore. A released statement emphasized that following the recent events, Tsapas is no longer the CEO and is not involved in decision-making regarding the cryptocurrency’s operation and development.

In the interview with Proto Thema, meant to “restore the truth,” Vangelis Tsapas cited “serious health reasons” for his temporary retreat out of Athens and public sight but he also said he took the step on advice from his lawyer. “By the way, I have not been called by a prosecutor for any reason,” Tsapas pointed out. The publication notes that Greek law enforcement authorities have been discreetly monitoring developments in the case.

What do you think will be the fate of Greece’s first cryptocurrency and its creator? Tell us in the comments section below.

WAX Builds the Largest Cross-Blockchain Ecosystem for NFTS, Gaming, and GameFi With Binance

“Blockchain Brawlers” NFT Collection Launches Later this Month

WAX, (Worldwide Asset eXchange), co-founder William Quigley has a vision for the future. One in which an NFT bridge – built by the company – would enable blockchain and NFT marketplaces to thrive despite their different chain types.

Quigley’s vision took a giant leap forward recently has the company announced the launch of its GameFi project, ‘Blockchain Brawlers’, that enables users to transfer NFTs used in the game interchangeably between Binance Smart Chain and WAX blockchain through the NFT bridge developed by WAX.

​​“The NFT bridge built by WAX can build a future we envision, in which blockchain and NFT marketplaces are accessible to everyone regardless of the chain types,” said William Quigley, co-founder of WAX.

The NFT collection of ‘Blockchain Brawlers’ will be auctioned on Binance NFT Marketplace for the first time on November 30, 2021. Being able to transfer NFTs used in game to other blockchains through bridges will bring the GameFi industry to the next level. With the free transfers of NFTs, the global mass adoption rate of gaming NFTs will increase.

Binance Smart Chain (BSC) is the first blockchain to be connected with WAX and ‘Blockchain Brawlers’ will be the first gaming dApp that enables cross-chain ecosystem for NFTs. The first batch of ‘Blockchain Brawlers’ NFTs, called ‘Founder’s Edition’, consist of 100 NFTs that come in four different editions: Standard, Hardcore, Cage Match and Death Match. Each of these Brawler NFT will play an integral role in the upcoming ‘Blockchain Brawlers’ play-to-earn game where they will fight for fortune and fame.

In the first phase of the upcoming NFT bridge by WAX and BSC, users will be able to use their WAX Cloud Wallet account to view NFTs that they own on BSC. This NFT bridge will facilitate the transfer of selected BSC NFTs to the WAX blockchain, including Blockchain Brawlers purchased on the Binance NFT Marketplace. The NFT assets will then appear in users’ NFT inventories on the WAX blockchain.

In the second phase, this bridge will provide access to a much larger universe of NFTs on both WAX and Binance NFT. Users will then be able to buy and sell NFTs on both WAX and BSC-based NFT marketplaces regardless of which chain the NFT is originated on. The NFT bridge is projected to go live in the second quarter of 2022.

Following the Binance NFT auctions, there will also be additional NFTs from the game to be auctioned at a later date on WAX.

WAX is the biggest gaming blockchain processing three-quarters of all gaming related transactions while Binance NFT recently launched their new gaming initiative, IGO (Initial Game Offering) to give users early access to the GameFi world. With the launch of IGO, Binance NFT endeavors to build the future of gaming metaverse by offering the largest GameFi NFT trading platform.

Games and additional PFP programs as well as an NFT marketplace compatible with both Binance NFT and WAX NFTs are among the current and future collaborative projects expected to take place between the two companies.

The Worldwide Asset eXchange™ (WAX), aka the “King of NFTs”, is the world’s No.1 blockchain, as measured by number of users and transactions, according to Dappradar.com. WAX’s mission is to bring NFTs to the mass market in the safest, most secure, environmentally friendly, and easy-to-use marketplace in the world. WAX is the leading entertainment NFT network – in 2018, WAX introduced vIRLs, giving consumer product companies the ability to directly link NFTs to physical consumer products. WAX has facilitated the trade of more than 100 million digital collectables including Major League Baseball (via Topps MLB collectables), Capcom’s “Street Fighter,” and world-renowned entertainers Deadmau5 and Weezer.

Binance NFT, the official NFT marketplace of Binance, offers an open market for artists, creators, crypto enthusiasts, NFT collectors and creative fans around the world with the best liquidity and minimal fees. Binance offers three product lines: Premium Events, Mystery Box and a Marketplace. The company is striving to build the first and largest GameFi NFT trading platform for gaming projects via IGO (Initial Game Offering) – featuring core in-game assets from top gaming projects.Binance schedules quarterly BNB burns to permanently reduce the supply of BNB, in turn, increasing its value. The amount of BNB burned is calculated based on Binance’s overall quarterly trading volume. Quarterly coin burns continue until a total of 100,000,000 BNB are destroyed, which represents 50 percent of the total BNB supply.

Binance Smart Chain is also an individual blockchain, but it isn’t the replacement for Binance Chain, despite it being newer. Binance Smart Chain is actually designed to run alongside the original Binance Chain.

Those seeking additional details may find them on the official WAX Discord, WAX Twitter, and WAX website. Details of the game and NFTs are available at BCbrawlers.com.


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Major League Soccer Star Kieran Gibbs Reveals Plans to Convert 50% of His Salary Into Bitcoin

Major League Soccer Star Kieran Gibbs Reveals Plans to Convert 50% of His Salary Into Bitcoin

The Inter-Miami CF (IMCF) Major League Soccer (MLS) star Kieran Gibbs has announced the player plans to convert half of his salary into bitcoin. Gibbs will leverage the crypto finance firm XBTO in order to convert his salary and avoid heavy fees.

Inter-Miami CF’s Left-Back Kieran Gibbs to Get Half of His Earnings Converted to Bitcoin

The MLS player Kieran Gibbs has announced his intentions to convert half of his salary into bitcoin (BTC). Gibbs plays as a left-back for IMCF and announced his decision to play for the David Beckham-owned team at the end of March 2021. Gibbs, 31, will utilize the crypto finance firm XBTO in December 2021 in order to convert 50% of his USD salary into BTC. XBTO says Gibbs won’t be charged conversion fees and the funds will be sent to his bitcoin wallet.

XBTO says that it has a lot of experience dealing with complex crypto conversions and gaining access to liquidity. The company highlights that it also has its own ESG compliant mining operation which gives the company access to freshly mined bitcoins. In a statement sent to Bitcoin.com News, the IMCF star left-back Gibbs explained that he has been a bitcoin supporter for a while.

“I’ve been a fan of bitcoin and the crypto space for some time now, and I believe they have the ability to break down huge social and economic barriers — crypto is for everyone,” Gibbs detailed. “I hope my partnership with XBTO can further the awareness and education of cryptocurrencies and their tremendous potential to positively impact global societies,” the soccer player added.

Gibbs follows a slew of athletes turning to crypto. Many individuals such as Green Bay Packers quarterback Aaron Rodgers, Carolina Panthers offensive lineman Russell Okung, Los Angeles Angels Shohei Ohtani, Argentinian soccer star Lionel Messi, American professional stock car racing driver Landon Cassill, New York Giants running back Saquon Barkley and many more are choosing to be paid in crypto for marketing deals or salary conversions.

What do you think about the IMCF left-back Kieran Gibbs planning to convert 50% of his salary into bitcoin? Let us know what you think about this subject in the comments section below.

Fold Launches AR Game With Bitcoin Rewards, Firm Partners With Niantic to Forge a BTC Metaverse

Best known for creating the augmented reality (AR) mobile games Ingress and Pokémon Go, the software company Niantic revealed it has partnered with the bitcoin rewards company Fold. The two companies unveiled a new AR game that allows people to earn bitcoin in the metaverse.

Bitcoin Rewards Firm Launches Fold AR

The bitcoin rewards application Fold has announced a new game called Fold AR, a game that is available to users leveraging the Fold mobile application. In order to develop the game and further the metaverse, Fold partnered with the popular American software company Niantic. Fold AR “allows users to earn bitcoin and in-app benefits by exploring their physical surroundings.”

The initial Fold AR rollout started on Tuesday, and the team will allow a small fraction of users to test the game for a limited time each day.

“This is the easiest, most fun way to get your first piece of bitcoin,” Fold’s CEO Will Reeves said in a statement. “Anyone can use our app to earn bitcoin and other rewards by exploring the world around them. For us, it’s always been important to make participating in the bitcoin economy easy for anyone, regardless of education or technical expertise.”

Niantic is well known for producing the AR mobile games Ingress and Pokémon Go. Ingress released in 2013 has been downloaded over 20 million times globally and in 2021, Niantic introduced a subscription service to Ingress.

However, the free version of Ingress is still available, and it’s still one of the most well known AR games today. Niantic also developed the popular AR mobile game Pokémon Go which has roughly 147 monthly users worldwide. In 2020, Pokémon Go raked in $6 billion in revenue and the game’s been downloaded more than a billion times.

“We see a future where our platform technology and AR tools pave the way for new entertainment experiences and real-world connections,” Niantic executive Meghan Hughes stated. “Games always help us push the boundaries of technology and allow us to incubate some of our most audacious thinking, but we see incredible opportunity in multiple categories including payments. Working with Fold, which has always been at the forefront of making bitcoin accessible, is a perfect collaboration for Niantic and a great use case for augmented reality.”

What do you think about Fold and Niantic partnering to launch Fold AR with bitcoin rewards? Let us know what you think about this subject in the comments section below.

MetaGods, The 8-Bit Action Role-Playing Blockchain Game

PRESS RELEASE. The gaming business is undergoing a revolution thanks to the advent of blockchain technology. Because of this, it’s giving developers a new way to engage the audience with capabilities that were previously unavailable. The Play-To-Earn (P2E) concept, in which gamers’ are rewarded for their time with tokens that can be exchanged for real money, is already commonplace in the gaming world.

In this industry, the GameFi model represents a huge shift from the past, when in-game assets were restricted to centralized protocols and players were prohibited from trading their digital assets outside of the platform. But in recent years, the P2E business model has gained enormous popularity, particularly in developing countries where local employment and opportunities are limited, but also where the vast majority of people have access to basic electronic gadgets and the internet.

MetaGods is one of the projects that is enhancing the Play-To-Earn model. It is the world’s first 8-bit action role-playing game built on the blockchain, as it incorporates innovative game mechanics that are at the forefront of the ongoing GameFi revolution. Players are able to customize their character NFT avatars and gain access to unique characters and abilities. Along with combating deadly creatures, the MetaGods in-game economy also enables users to exchange virtual products with the tokens, and allows them to earn real money for their experiences in the epic dungeon boss fights.

MetaGods GameFi Model

To maximize revenue, MetaGods GameFi model enables users to stake platform tokens directly through the game’s user interface. They will then be able to earn the in-game token to upgrade their character NFTs or buy better weapons and legendary loot. This model will also incorporate a strong social component through the use of GameFi mechanics.

MetaGods features casual and hardcore game types. Casual gamers can explore the game’s universe and farm thanks to the game’s play-to-earn aspects. NFT permadeath is introduced in Hardcore, although APY and legendary loot rates are increased. The real fun begins in this mode.

For seasoned gamers, hardcore mode amplifies the stakes. Winners earn items of increasing rarity and value, but must risk their best characters in order to survive. This strategy, a first in the industry, adds to the game’s suspense and adventure.

These are only the beginnings in the realms of Atlantis and Zion. Additional gameplay elements will be disclosed in the near future!

For the last quarter of 2021, MetaGods is now concentrating its efforts on the game trailer, Early Access Dungeons, DeFi farming, and Generative NFT Characters.

MetaGods Tokens

$MGOD and $RELIC are the two digital tokens that make up MetaGods’ ecosystem.

Using the $MGOD token, players can purchase adventure packs, which include characters, weapons, and consumables. To enter raids, tournaments, and other special events, it will be utilized as an admission fee. Payment for marketplace transactions will also be made in $MGOD.

Meanwhile, the $RELIC token will be used to buy consumables and engage in marketplace activity in the game. Tokens can be earned over time through staking, and will flourish in the largest metaverse economy. In-game merchant mechanics will assist steady the pricing.

MetaGods Raised $3M

In order to bring blockchain technology to a fast-growing gaming sector and transform the non-fungible tokens market, a number of investors and partners, including BoxMining, ABV, Cinchblock, CoinUnited.io, Magnus Capital, Raptor Capital, and Faculty Capital, have joined the effort and contributed $3 Million to MetaGods.

Thanks to this amazing group of investors, they now have the momentum and industry recognition they need to continue forward with their plans to build out the best game on the blockchain.

About MetaGods

MetaGods is an 8-bit, play-to-earn action RPG where players fight against the gods on the path to ascension. Each character NFT is created by the union of mortals, demigods, and titans. They will team up with each other and fight epic bosses, while slowly becoming true gods themselves.

The game works with a dual token system. The $MGOD and $RELIC are the two tokens of the platform. $MGOD is used as the governance token of the project and can be used to enter special events. $RELIC is an earnable in-game currency that supports the play-to-earn structure of MetaGods.

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