Hackathon To Support Developers And Promote Growing GameFi Trend
Leading NFT marketplace APENFT, in partnership with TRON, one of the world’s largest and most popular blockchain-based operating systems, has launched the first-ever APENFT & TRON GameFi Hackathon.
The concept of GameFi has gained significant popularity this year, as it combines DeFi, NFT, and P2E blockchain gaming ecosystems, providing users with access to a world of income opportunities. The Hackathon is open to all developers willing to build GameFi projects on the TRON blockchain. Registrations and submissions for the first phase of the Hackathon started on December 20th, 2021, and will continue until February 20th, 2022.
To empower developers and help accelerate the growth of GameFi in the TRON ecosystem, APENFT Foundation is sponsoring a $500,000 prize pool for the highly anticipated Hackathon, the results of which will be announced on March 1st, 2022. Winning teams will also get support from the TRON development team, and an opportunity to present their projects in the DoraHacks live studio for higher visibility. Furthermore, the most promising projects will also receive APENFT’s end-to-end support in funding and incubation after the Hackathon.
The APENFT & TRON GameFi Hackathon is designed to help next-gen GameFi projects gain more exposure alongside full support from the TRON development team. The bench of judges for the Hackathon includes some of the most renowned personalities from Binance Labs, Cadenza, IVC, and EVC, among others.
All winning amounts for the Hackathon will be distributed in USDT, with five projects set to be selected based on a tally of judges’ votes. The winner will receive $200,000, the runner-up receives $120,000, and the remaining three winners will receive $80,000, $50,000, and $30,000 each. Additionally, two more projects will be selected based on community voting. The winner of the “Community-Choice” award and the “Developers’ Choice” award will both receive $10,000 each.
About APENFT
APENFT leverages features of the Ethereum and TRON blockchains and the BitTorrent File System (BTFS) to build a bridge between renowned artists and the blockchain ecosystems while empowering crypto-native artists – all through NFTs. APENFT operates across multiple areas, including funding allocations to top NFT platforms and works of art, the incubation of prominent NFT artists to forge greater connections between renowned artists and the NFT universe, gallery sponsorship, art exhibition production, and much more.
About TRON
TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized services boasting nearly 100M monthly active users. The TRON network has gained incredible traction in recent years, with over 52 million users on the blockchain and upwards of 2.3 billion transactions. In addition, TRON hosts the largest circulating supply of stablecoins across the globe, overtaking USDT on Ethereum in April 2021. The TRON network completed full decentralization in Dec 2021 and is now a purely community-governed DAO.
Charles Hoskinson, Cardano’s founder and the co-founder of Ethereum, talked about his vision for Cardano in 2022
According to Hoskinson, several improvements to the general DeFi functionality are coming in 2022
The price of Cardano rallied to a near-monthly high following Hoskinson’s Youtube appearance
Last Friday, Cardano’s founder Charles Hoskinson unveiled plans for the rapidly developing network in a half-hour-long Youtube video. The prominent software developer and co-founder of the Ethereum blockchain platform talked about his vision for Cardano in 2022 and beyond.
Cardano trails top DeFi competitors due to slow development and complex smart contract language
In his Youtube appearance, titled Happy Christmas Eve, Hoskinson touched upon several key issues that need to be resolved if Cardano is to become a leading decentralized finance (DeFi) platform. After a long wait, the network saw the launch of highly anticipated smart contract functionality in September’s Alonzo hard fork upgrade.
Charles Hoskinson is one of the most respected figures in the community, both for his engineering prowess and leadership mindset.
However, the programing language for smart contracts and decentralized applications (dApps), called Plutus scrips, has gained little traction over the last couple of months due to its reportedly high complexity and steep learning curve.
While the price of Cardano’s native digital assets ADA exploded to an all-time high above $3 in anticipation of the Alonzo upgrade, the network still holds no TVL on its rails according to blockchain analytics firm DefiLlama. For reference, there is currently more than $150 billion value locked in decentralized services and products on the Ethereum platform, Cardano’s top competitor.
Improvements to DeFi, a native web wallet, and a peer-to-peer framework are in the pipeline for next year
Hoskinson is well aware of the problems that are holding Cardano back from reaching its full potential.
“My goal for the second half of 2022 is to figure out how to put all the pieces together to get an end-to-end microfinance transaction on Cardano,” explained Hoskinson and added, “A formal open-source project structure is going to be formed, kind of like Hyperledger to Linux.”
Judging by Hoskinson’s statements, it seems that the developing team is working on a structure that would oversee the process of creation of decentralized applications on the platform. If met with open arms by software developers, this could lead to the proliferation of a high number of public DeFi services on Cardano in 2022.
The team is reportedly also working on a native web wallet designed for seamless interaction between various Cardano-based DeFi protocols and improvements on community governance.
Hoskinson continued by turning his attention to peer-to-peer (P2P) functionality and decentralization efforts. “Peer-to-peer is currently being tested with the stake pool operators on the testnet, and there’s lots of stuff happening there,” the founder said. Once the testing phase is finished, we could see Cardano’s network validators interact directly with one another, which would provide a greater degree of decentralization to the network and help alleviate some of the community’s concerns.
Cardano was the best performing digital asset among the cryptocurrency top 10 in the past week.
The vision outlined by Hoskinson in the recent video contributed to strong bullish activity, which saw the price of ADA increase from $1.35 on December 23 to the monthly high of $1.59 on December 27 – ADA recorded a 10% jump on Monday alone.
The price of ADA has since retraced to $1.49 at press time, mirroring the broader trend permeating the markets.
Binance is the largest cryptocurrency exchange in terms of trading volume by a large margin. It provides a wide range of crypto investment products and services, allowing users to generate passive income on their digital assets and engage in countless spot and derivative markets.
If you are an avid cryptocurrency trader or just a casual “buy and hold” type investor, sooner or later you are faced with the decision of turning your crypto profits into fiat to cash out your funds. In this article, we will examine different ways of withdrawing fiat from your Binance account and help you pick the method that best fits your particular sets of needs.
The first thing you need to do in order to get funds from your Binance account is to exchange your digital assets for fiat. You can do so in a variety of ways. For example, you can do so by selling crypto in spot markets for fiat or buying fiat with crypto by navigating to appropriate trading pairs.
Suppose you intend to sell a large amount of digital assets but find yourself hesitant to pull the trigger due to the difficulty of identifying a good selling opportunity. In that case, you can employ a dollar-cost averaging (DCA) strategy. While DCA is typically used when buying assets, it can be an excellent choice to exit your position as well.
While there is currently no automated service available on Binance to set up recurring sell orders, you can easily formulate your own plan and execute the strategy. It is worth noting that on the selling side, it is best to tweak the DCA strategy a bit and focus on selling the same amount of assets in predetermined intervals instead of withdrawing the same amount of fiat. This is because an investor must sell a larger number of assets when the market is low and fewer when it is high, which leads to a low average price, which is not the desired outcome.
How to sell your crypto for fiat
Note that you need to be a registered user in order to have full access to Binance’s suite of withdrawal services and enjoy higher transaction limits. As of October 19, all Binance users are required to complete the KYC procedure.
Step 1 – Navigate to the “Markets” section on the Binance homepage and select crypto/fiat trading pair, such as BTC/EUR, for instance.
Step 2 – Once in the trading view, enter the amount of crypto you would like to exchange for fiat funds. In our example, we are selling Bitcoin for EUR.
Alternatively, you can select a fiat/crypto trading pair, such as EUR/BUSD, and buy fiat with crypto.
Now that you’ve obtained fiat, you can proceed to the next step of withdrawing your funds via the bank account withdrawal method or by credit/debit card. You can also use third-party channels if those options are available for your particular fiat currency selection. Keep in mind that available withdrawal methods will depend on your country of residence and the fiat currency you decide to use.
Withdrawal methods vary between different fiat currencies
Binance supports a wide range of fiat options, including the most popular currencies such as USD, EUR, and GBP. Keep in mind that the list of supported currencies is subject to change, as is the list of countries whose residents are eligible to make fiat withdrawals on Binance.
Additionally, certain withdrawal methods and third-party channels are not available to all Binance users as they can be accessed only from certain territories and on a per currency basis.
A step by step guide on how to withdraw fiat from Binance
In this section, we will explain the main differences between various withdrawal methods and guide you through the process of using bank transfers, debit/credit cards, and third-party channels.
SWIFT is one of the most widespread cross-border payment networks in the world. It serves as an intermediary and executor of transactions between banks internationally and is linked to over 11,000 financial institutions in more than 200 countries.
Binance charges a 15 USD flat fee on SWIFT withdrawals. Note that if your bank account doesn’t support USD natively, you may incur additional currency conversion fees upon receiving funds from Binance.
Here’s the complete guide showing how to use the bank transfer (USD SWIFT) withdrawal method.
Step 1 – Binance provides several different ways of requesting fiat withdrawals. From the “Wallet” drop-down menu on the Binance homepage, you can select either “Overview” or “Fiat and Spot” options, whichever you prefer. Admittedly, going the Fiat and Spot route is a bit faster since it requires a couple of clicks less to reach the Withdrawal form.
Step 2 – Click on the “Withdraw” button at the top of the Fiat and Spot section or request a withdrawal from the list of coins section.
Binance occasionally initiates the crypto withdrawal process upon clicking on the Withdraw button. Click on the “Withdraw Fiat” button in the upper right corner to proceed with the fiat option.
Step 3 – Select the currency you wish to withdraw. When selecting USD as a withdrawal currency, the “Bank Transfer (SWIFT)” is the only option available.
Step 4 – Enter the information about the financial institution you are transferring the funds to, such as bank name and SWIFT/BIC code. Complete the two-step form with relevant details and click “Next” on the bottom of the popup.
Step 5 – Enter the amount of USD you would like to withdraw. As you can see from our examples, there is a 15 USD withdrawal fee on every withdrawal, no matter the amount.
Step 6 – Click “Confirm” to execute a SWIFT money transfer.
SWIFT-powered transactions usually take between 2 and 4 business days. If more than four days have passed since you’ve requested a withdrawal via SWIFT and you still haven’t received your funds, Binance advises that you proceed by contacting the financial institution you’ve selected during the process.
SWIFT transfers are most commonly used for larger withdrawals due to their flat fee structure. The maximum withdrawal limit is directly correlated to your particular account verification level. As a side note, SEPA bank transfers, a Eurozone equivalent of the international SWIFT money transactions, have been temporarily suspended in July 2021.
Pros of the bank transfer (USD SWIFT) withdrawal method:
Flat fee structure favors larger withdrawals
Supports high transaction amounts (KYC’ed users can withdraw up to $200K daily)
Cons of the bank transfer (USD SWIFT) withdrawal method:
Relatively long cash out times
Transactions are not processed on weekends
Withdraw via debit/credit card
Debit and credit cards can be an excellent choice to withdraw money, especially if you need quick access to your funds. In contrast to the flat fee structure of SWIFT transfers, Binance charges a percentage fee on each debit/credit card withdrawal.
If you lack fiat funds in your Binance account, follow steps 1 through 3 from the SWIFT withdrawal section. Otherwise, proceed with the following steps.
Step 1 – Select currency and the “Bank Card” option and proceed to the next step by clicking “Continue”.
Step 2 – Enter your withdrawal amount and pick the credit card you would lite to use. The fixed percentage transaction fee is immediately accounted for.
Step 3 – A withdrawal confirmation prompt will appear. Click the “Confirm” to finalize the withdrawal process.
Step 4 – A notification message greets you, summarizing the withdrawal order.
Payment card transactions are usually executed swiftly. You cant expect money from Binance to be transferred within a couple of minutes, and at most within 24 hours.
At the time of writing, Binance supports Visa card withdrawals for EUR, GBP, and RUB local currencies. Here’s a list of countries whose residents are eligible to request direct EUR and GBP Visa payment card withdrawals.
Pros of the debit/credit card withdrawal method:
Fast transaction times, funds are usually cashed out within 5 minutes
Larger withdrawals are not supported (limited to 5000 EUR/4500 GBP)
Withdrawal via third party channels
Binance supports a wide range of third-party channels that allow users to withdraw money from their accounts even if the direct bank transfer or credit and debit card options are not available. Some examples of the third-party payment processors currently supported by Binance include Advcash and Payeer.
The process of withdrawing funds via third-party channels is similar to the above-described bank transfer and credit card methods. The main difference is that the withdrawal will be completed with a third-party company.
Keep in mind that while the fee structure of 3rd party companies is usually very competitive, transaction costs can vary depending on the local currency you’ve picked.
Pros of the third party channels withdrawal method:
Low fees and fast transactions times
Transactions take less time to clear than when using bank transfers
Cons of the third party channels withdrawal method:
Limited to specific regions and local currencies
The transaction fee structure can vary depending on the fiat option
Transfer crypto to another exchange and withdraw from there
Binance provides a great variety of withdrawal methods and supports a long list of fiat currencies. However, suppose Binance does not support your particular local currency. In that case, you can easily transfer your digital assets to another exchange, where you can convert your crypto to fiat and withdraw the freshly converted funds.
In the guides below, you will find a step-by-step tutorial on how to send Bitcoin from Binance to two popular crypto exchanges:
The process is similar between most major centralized exchanges. Make sure to enter the correct information when transferring crypto, as incorrect details can lead to a permanent loss of funds.
Use the withdrawal method that best suits your needs
There are significant differences when withdrawing funds from your Binance account in terms of fee structure and transactions times depending on the fiat currency you choose and your country of residence. Make sure to weigh your options before making a withdrawal and use the best method for you.
In general, bank transfers are an excellent choice when making larger withdrawals, and time is not of the essence. Credit and debit cards are better suited for quick withdrawals; however, costs can quickly surpass those of bank transfers due to a fixed percentage fee structure.
Over the years, Binance has streamlined the fiat withdrawal process and made it as straightforward and transparent as possible. Turning crypto profits into fiat has never been easier.
Investing in crypto can be difficult. It’s not just because prices are constantly fluctuating – although this definitely has a great deal to do with it – but it’s also because there’s so much information out there from so many different sources that it can make it extremely hard for us to know which advice we should actually follow.
One of the most difficult parts about investing in crypto is knowing where to start
The crypto community can be competitive. If you’ve spent any time at all around crypto investors, you’ll notice that it’s common for them to make bold statements about their investments. It can often seem more like a competition than a community.
Many investors claim to have made large profits – especially if they’re trying to sign up to their newsletter or buy their course – but many of them have little evidence to back up their figures.
Understandably, it can be difficult for other investors – especially those who have never invested in anything before – to figure out whether these claims are solid. Many new investors are turned away from the industry completely out of fear of following the wrong advice and losing large sums of money.
You’ve probably heard of the popular quote by Pablo Picasso about learning to become an artist: “great artists steal”.
Well, the same advice can be applied to becoming a world-class investor (but don’t worry, we don’t mean you have to literally steal).
This is exactly what NAGA, the next generation super investing app, is trying to promote with its social network, NAGA Trading Platform. The platform combines content, influencers, trading, digital assets and payments all in one single app, allowing less skilled traders to benefit from the knowledge of experts, while experts are rewarded for their knowledge and skills.
What is NAGA’s Trading Platform all about and how does it work?
NAGA is a new social network platform designed specifically for investors. It lets users follow prolific investors the way they’d follow them on other popular social media platforms such as Instagram or TikTok. But instead of mindlessly scrolling and looking at videos of dogs doing funny things, users can leverage NAGA to actively make money by directly copying more experienced traders.
At the core of NAGA Trading Platform is NAGA Coin ($NGC). This is an ERC20 utility coin that was created on the Ethereum blockchain.
$NGC is designed to reduce the copy trading fees on the platform. It also enables users to decrease fees, create smart contracts for copy trading (we’ll describe exactly what this means in the next section), and much more.
Ultimately, NAGA is aiming to make $NGC the chosen currency for the social finance industry.
What is copy trading, and can users benefit from it?
As mentioned earlier, one of the main reasons that people decide not to invest in crypto – or anything, for that matter – is because they don’t fully understand it.
Image source: NAGA
Time is limited, and there is so much information at everyone’s fingertips that they don’t want to sit in front of computer screens staring at charts and trying to make sense of them. They want solutions that are easy to understand, and they want them all combined in a single app where all of their information is stored in one place.
In particular, they want solutions from known sources who they can trust. And this is exactly the gap in the market that NAGA is working to solve.
The premise of NAGA is that you can see what top entrepreneurs are investing in, and then mirror their trades in seconds so that you also reap the rewards. This removes the need to stay up to date with the latest trends in the news and the markets, and cuts out a lot of the anxiety associated with trading. This tool is referred to as the NAGA Autocopy tool.
One of the key features of NAGA is its Top Traders leaderboard. The leaderboard ranks these top investors, and lets users see where they are putting their money. It includes vital information such as how much profit each user has made, how many Autocopiers they have, and what their win ratio is. Users can make a decision about who they want to copy based on these statistics.
Once they have decided who to copy, they just push a button. No more sitting and staring at charts trying to make sense of them, and no more wasting hours and hours scrolling through forums trying to do research.
When one of the traders that you are copying trades, then you also trade – it’s literally that simple. You will benefit from your leaders’ trading and earn commissions. If done right, the rewards can be huge. As of November 2021, the profits made by NAGA’s top 10 most profitable traders amounted to over $891,780, with a win ratio of 94.10%.
This all sounds good for investors, but what’s in it for the traders?
Of course, Top Traders aren’t expected to hand over their trading strategies for free – they’re rewarded too.
When a user decides to Autocopy a trade, they will pay a flat fixed copy fee of €0.99. The influencers who are being copied will receive approximately 35% of this fee. Traders can receive up to €100,000 in monthly payouts in real cash, based on the amount of their copiers.
Every trader on the platform can Autocopy, and they can also be Autocopied by other users. But of course, you’ll need to prove yourself before other people want to copy you.
If you’re an experienced trader that hasn’t quite made it onto the Top Traders leaderboard yet, you can also help yourself by expanding your network by interacting with other traders on the NAGA platform. Gaining more followers and friends will give you an opportunity to show off your own skills and trading strategies, and ultimately make more money.
So how do I get started?
Creating an account with NAGA is completely free, and all you need to start following the strategies of the best traders and unlock the potential of the Autocopy tool is a 250€ deposit.
You can also set limits for both the profit and loss you’re willing to accept when trading, and you’ll receive notifications accordingly.
You’ll also become a part of the NAGA community, and you are encouraged to share your thoughts, connect, and start conversations with other members of the community. It is, above all, a social networking platform after all.
NAGA could play a role in welcoming a new wave of crypto traders to the DeFi industry
Decentralized Finance, more commonly referred to as ‘DeFi’ by the rest of the crypto community, is a system in which financial products become available on a public decentralized blockchain.
The central idea behind DeFi is to eliminate the involvement of government-controlled centralized banks in issuing and regulating currency. But over the past year, a number of DeFi projects providing insurance, enabling securities trading, and even offering savings accounts has skyrocketed. If NAGA is brought to on-chain trading, this could be a game changer that welcomes yet another flood of newcomers to DeFi trading.
The final weeks of a year are usually relatively quiet – most projects use this time to go on a well-deserved break, and typically don’t have major announcements or launches during the period. However, that doesn’t mean that nothing interesting is happening in crypto right now. Here are 3 crypto projects that will be worth following in the coming days.
3. Terra (LUNA)
The Terra blockchain platform is designed to support algorithmic stablecoins and a decentralized finance ecosystem built around them. Terra is built using the Cosmos SDK and uses Tendermint consensus. The network also supports the issuance of synthetic assets through its Mirror Protocol.
The rapid growth of Terra’s DeFi ecosystem pulls the value of LUNA towards $100
On December 22, LUNA hit a new all-time high at almost $100. This is extremely impressive if we consider that the token was trading below $1 at the start of 2021. Alongside the LUNA token’s price, Terra’s DeFi ecosystem has also been seeing rapid growth.
According to data from DeFi Llama, Terra is currently the second-largest DeFi platform in terms of TVL (Total Value Locked). At the time of writing, Terra has a TVL of $19.2 billion, ahead of the $16.7 billion figure on Binance Smart Chain. Admittedly, the 1st spot is currently out of reach for Terra, as Ethereum is dwarfing all competitors with its TVL of $155.4 billion. Currently, the most popular DeFi protocol on Terra is Anchor, which offers yields on Terra-based stablecoins.
2. IOTA (IOTA)
IOTA is a project that’s tackling decentralized ledger technology in an alternative way instead of using blockchain architecture. The IOTA network uses the directed acyclic graph (DAG) architecture, which can provide significant scalability improvements over blockchain, although it has proven to be more complex to implement successfully.
Smart contracts and true decentralization are coming to the IOTA network
There are two additional networks being built to complement the IOTA ecosystem: Shimmer and Assembly.
Shimmer is based on the same consensus mechanism as the IOTA 2.0. DevNet, but instead functions as a truly decentralized network. Shimmer is designed to be upgraded with new features before they make their way to the IOTA mainnet. The role of the Assembly network is to bring smart contract functionality to the IOTA ecosystem. Assembly is anchored to the IOTA network, but also has a pool of decentralized validators.
Shimmer and Assembly will have their own native tokens called SMR and ASMB, respectively. IOTA is now holding a staking program where users will be able to earn SMR and ASMB by staking IOTA. The pre-staking period began on December 21, and users will start receiving their staking rewards from December 28th onward for a 90-day period. You can learn more about the IOTA staking program by reading the project’s official announcement.
1. Polkadot (DOT)
Polkadot is a blockchain platform focused on interoperability, scalability and on-chain governance. Polkadot is designed as a network where customizable blockchains called “parachains” can connect to the main Relay Chain, providing significant security and interoperability between parachains. Polkadot is secured through a Proof-of-Stake (PoS) consensus mechanism.
The second batch of parachain auctions is bound to bring additional interest to the Polkadot ecosystem
The second batch of Polkadot parachain auctions is currently underway, and the Polkadot ecosystem is poised to enjoy some additional attention in the coming weeks. The 6th parachain auction started on December 23, and auctions will be taking place on a weekly basis until March 10, 2022.
Polkadot currently supports a limited number of parachain slots, which means that projects that want to connect a parachain to the network have to win a parachain slot auction. To get the necessary amount of DOT to win an auction, most projects organize “crowdloan” campaigns where users can lend their DOT to the project. If the project wins, crowdloan contributors are typically rewarded with the project’s native tokens (for example, ACA in the case of Acala). The DOT contributed in crowdloans is locked and automatically returned when the project’s parachain lease expires, or if the project fails to win an auction.
Some of the more interesting projects currently competing for a parachain slot are Efinity, Manta Network, Litentry, Crust Network and Centrifuge.
To view the full schedule of the second batch of parachain auctions, you can check out this official announcement from Polkadot.
StarSharks – a community-driven gaming ecosystem dedicated to players creating, sharing and building together – is thrilled to announce the closing of a $4.8 million private round. The shark metaverse will use fresh funds to build exciting new games and nurture the community.
The private placement saw participation from dozens of well-known investors including 3 Commas Capital, AC Capital, Banter Crypto, Bas1s. Ventures, Basics Capital, Bigcoin Capital, Binance Labs , DAO Maker, Everest Ventures Group, Everse Capital, Exnetwork Capital, Forward Analytics, Fundamental Labs, Gate.io Labs, Geekcarptel, Genblock Capital, Hyperedge Capital, ICO Drops, Jsquare, Kirin Fund, Krypital Group, KuCoin Labs, LD Capital, MarketAcross, Momentum 6, Muhabbit, NGC Ventures, Redline Dao, Skyman Ventures, SL2 Capital, Titans Venture, UniX, Vendetta Capital, Winkrypto, YBB Foundation, Infinity Ventures Crypto, and YGG SEA.
Prior to the private round, Binance Labs, the venture capital arm and incubator of Binance, had made strategic investment in StarSharks. Founded by former star performers from Timi Studio, Google, and Binance, StarSharks is built on the Binance Smart Chain (BSC).
“StarSharks is dedicated to developing a state-of-art blockchain game platform, with the goal of sharing and maximizing the value of creativity through co-creation. We are grateful to be supported by over 30 prestigious institutional investors and communities who believe in StarSharks’ vision, and we look forward to building the game platform of the next generation together,” said Franky, the CEO of StarSharks.
The project aims to disrupt the current GameFi landscape where assets are isolated in one game. Players, developers, and investors can own, mate, and trade the shark NFTs within the ecosystem. They will also be able to seamlessly transfer NFTs from one game to another within the StarSharks metaverse.
Users who can’t afford to buy an NFT can rent one using StarSharks’ NFT leasing feature. The “rent to play” feature will fully activate the liquidity and utilization of NFT assets. It bridges the gap between NFT holders who don’t have time to play and active players who don’t have enough initial capital to purchase entry NFTs.
About StarSharks
StarSharks (SSS) is a community-driven game platform where players, developers, and investors could define the value evolution of underlying NFTs in a sustainable ecosystem. This project aims to cultivate and share the value of content with the community, and to disrupt the current GameFi world where assets are isolated in one game. It enables players to come together to build and govern a new metaverse and create a community culture in the Shark-metaverse. StarSharks was founded in 2021 by a team with previous star performers from Timi Studio, Google, and Binance.
SYN CITY announces Swae Lee joining the firm as Chief Entertainment Officer, effective immediately. The popular mafia metaverse project quickly rose through the ranks and continues to achieve significant milestones week-over-week.
SYN CITY continues to make headlines by blurring the line between the real world and its mafia metaverse. The appointment of Swae Lee as Chief Entertainment Officer will streamline the upcoming clash between digital art, music, and metaverse gaming in 2022.
Swae Lee is an American singer, rapper, and five-time Grammy Award nominee. He also makes up half of the hip-hop duo Rae Sremmurd with his brother Slim Jxmmi. Lee will put his music and entertainment industry expertise to good use while focusing on relationships, strategy, and revenue for the SYN CITY metaverse.
Swae Lee’s work lives at the height of popular culture and music today, having direct lines to collaborate with peers like Drake and Alicia Keys. Most recently, Swae Lee collaborated with Jhené Aiko and released an official video for their hit collaboration, ‘In The Dark,’ from ‘Shang-Chi and The Legend of The Ten Rings. Lee is also the featured artist behind ‘Sunflower’ by Post Malone, which hit the top of the Billboard charts last year and was nominated for two 2020 Grammys.
¨In a short time, we have onboarded dozens of key opinion leaders, partners, and innovators with an aggregated user base of over 160 million users across social platforms,” SYN CITY Co-founder Roy Liu comments. “We are only at the beginning. Our ambition was always to attract intellectual capital and talent to augment our constant, live feedback with our community via Twitter Spaces, TikTok and more. We needed real expertise in these fields to help SYN CITY surpass the next level. Swae Lee checks all the right boxes across the board.”
Unlike other people working in the metaverse and crypto gaming industry, Swae Lee will have a bigger scope to focus on. He will oversee day-to-day operations in entertainment marketing, music, non-fungible tokens, eSports, A-List KOLs, music tech software, and building strategic partnerships in the sports industry.
The genesis of SYN CITY’s appointment of Lee has more to do with his skills behind the scenes than on stage. The mafia metaverse project believes he is the right person to oversee entertainment partnerships requiring taste and data to unveil the optimal synergies and key tactical partnerships to benefit SYN CITY’s user experience. The project hopes to smooth the clashing of digital art, music, and metaverse gaming in 2022, marking a crucial milestone for the broader metaverse industry.
As someone familiar with the intricacies of optimizing and synergizing bleeding-edge partnerships, Lee is the right person for the job to take the project to another level. Moreover, Lee’s vision aligns with SYN CITY’s overall marketing strategy and branding, paving the way to achieve even bigger milestones and reach new heights.
“I always do stuff that is interesting, either to me or my millions of followers,” SYN CITY Chief Entertainment Officer Swae Lee adds. “I live in the moment, yet I also enjoy trying and exploring new things. The concept of SYN CITY struck a chord with me because it allows me to visualize some of my ideas and I get to be part of a new frontier in technology. It makes me optimistic for the future of our society.”
SYN CITY lends itself well to various activities in the metaverse. Whether one aims to focus on content creation, events, influencer marketing, licensing, or capitalizing on key cultural moments, these options are all accessible to everyone. Moreover, the project now has an in-house expert capable of helping businesses expand in new and existing ways in the mainstream.
About SYN CITY
SYN CITY is the first-of-its-kind “mafia metaverse” game built for the blockchain. Constructed by a team of experienced game developers, it brings the mafia and syndicate-style gameplay on-chain while introducing a unique in-game governance feature called Mafia-as-a-DAO. SYN CITY’s Discord has been a key proponent of the project’s growth, having amassed over 80,000 members in less than a month.
The new BNB burn program will replace scheduled quarterly burns and make the token destroying process a continuous process
Binance aims to bring greater transparency and predictability to the BNB removal procedure, which will be based on the price of BNB and BSC block generation
In addition to the newly launched BNB Auto-Burn, Binance Coins are removed from circulation in the real-time burning process introduced with BEP-95 earlier in the month
The Binance crypto exchange has announced a new update to its Binance Coin (BNB) burning process – BNB quarterly burns will be replaced by the new ‘auto-burn’ mechanic, which will bring greater transparency to the process of BNB removal from circulation.
BNB auto burn method will replace quarterly burns
Binance aims to increase the transparency and predictability of the BNB burning process with the introduction of BNB Auto-Burn. Contrary to quarterly burns, which were, as the name implies, executed once per quarter, the new mechanic will operate continuously and will be “independent of revenues generated on the Binance CEX,” according to the announcement post.
Binance explained that Auto-Burn will be automatically adjusted by taking into account the price of BNB and the number of blocks created on the Binance Smart Chain (BSC) during a quarter:
“The burn amount will be based on the price of BNB, which, in turn, reflects the supply and demand for BNB, as well as the number of blocks produced during a quarter calculated on the basis of on-chain information.”
The new update to the removal of BNB from circulation comes less than a month after the Bruno hard fork introduced BEP-95 and real-time BNB burning mechanism, which is in a lot of ways similar to the one integrated to the Ethereum network via the London hard fork earlier in the year.
BNB burning outlined in the BEP-95 differs from ETH in the method that network fees are processed. While the entirety of ETH’s gas fees is sent to the burn pool, some of BSC’s fees are distributed to the network’s validators.
Generally speaking, removing digital assets from circulation in the process called burning is employed with the intention of introducing deflationary pressure on the value of the digital assets. By diminishing the number of coins in circulation, the supply and demand dynamics dictate that the value of a single asset increases as long as demand for it remains at least the same.
The concept of funding content and media using decentralized platforms built on the blockchain has been a major discussion in the crypto world. This is due to the massive potentials and problems that blockchain technology profers from the existing practices in the movie industry.
The current clime is designed to reward a few top content creators, with the majority scrapping to stay afloat due to unfair policies and processes for funding. This has led to a monotonous repetition of content, and the real creative talent is unrecognized and unable to hit the big screens.
Flickto, a community-powered media launchpad built on the Cardano blockchain, is changing this by bringing movies to the blockchain. It is designed to change how media projects are funded by returning the power from media conglomerates and placing decision making with its community of users.
Flickto will establish a community fund that will be used to support projects and content creators to develop innovative and creative media content. Anyone can become a stakeholder by holding FLICK, the native token of Flickto and voting for projects within its ecosystem.
Flickto launches Initial Distribution Offering (IDO) on KICK.io
Flickto will be heralding the beginning of its roadmap with the launch of its IDO on decentralized launchpad Kick.io. The IDO will begin from 12.pm (UTC) on December 27 and run until midday (UTC) of December 30, 2021.
The public sale will herald the launch of its native token FLICK at a starting price of $0.009. A total of 330,000,000 FLICK tokens has been made available for public sale with a hardcap of $2,970,000. Participants can purchase the tokens using Cardano’s native token ADA.
KICK is one of the top launchpad platforms that provide additional benefits for users that also hold KICK tokens. For example, users will be able to have priority access to the IDO round and purchase the tokens 24 hours before the general public.
In addition, KICK holders will be able to endorse the FLICK IDO and earn a percentage on every FLICK token sold as extra rewards. Flickto will also leverage its unique platform that offers extensive support for Cardano native token and an advanced suite for projects to thrive and complete IDOs with minimal fuss.
More developments coming in the future
Flickto has achieved great developments since its launch on the Ist of November 2021. It has partnered with several blockchain projects, including VyFinance, which has resulted in exciting benefits for community members.
The IDO launch is also expected to expose the FLICK token to more holders and increase adoption since users will be able to purchase it at the very best price. In addition, following the IDO, Flickto will be listed on several DEXs and centralized exchanges.
Flickto intends to launch its platform in the coming weeks as well as announce the first few media projects that its community will fund.
