Digital asset services provider, Blockchain.com recently announced that the company has signed a Memorandum of Understanding (MoU) with the Virtual Assets Regulatory Authority (VARA) in Dubai.
According to the details shared by Blockchain.com, retail and institutional clients in Dubai will soon be able to access technology-driven financial services.
Digital asset services provider, Blockchain.com recently announced that the company has signed a Memorandum of Understanding (MoU) with the Virtual Assets Regulatory Authority (VARA) in Dubai. According to the details shared by Blockchain.com, retail and institutional clients in Dubai will soon be able to access technology-driven financial services.
In the last few years, several blockchain firms have opened their offices in Dubai. In November 2020, Ripple announced the selection of Dubai for its regional headquarters. Blockchain.com highlighted that the company is also in process of opening a local office in Dubai.
“Crypto investors in Dubai and its surrounding regions will soon be able to experience Blockchain.com’s full suite of retail and institutional brokerage tools including custodial services, an exchange, and OTC crypto brokerage services for institutional clients.
“As part of our local commitment, Blockchain.com is in the process of opening a local office and intends to hire in the region. We are also actively pursuing a local Minimum Viable Product license, followed by a full license as soon as it becomes available,” the company noted.
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Bitcoin rallied the most since July, breaking out of the narrowest trading range in about two years, as a drop in the dollar renewed demand for battered risk assets worldwide.
The largest cryptocurrency by market value advanced as much as 10.1% to $21,341 as of 12:05 p.m. in New York. The increase was the most since July 19. Bitcoin is outperforming most of the other top tokens such as Ether and Cardano. Bitcoin and Ether are still both down about 50% this year.
“It’s too early to predict that we are approaching another bull run, but if Bitcoin regains a higher support level between $22,000-$25,000 then it may boost investor confidence and ease off the selling pressure across crypto assets,” said Tarusha Mittal, co-founder of crypto staking platform UniFarm. “Given the fact that central banks around the world remain cautious due to the high inflation numbers, the current surge in the crypto market might be short-lived,” she adds.
The Bloomberg Dollar Spot Index tumbled 0.9% on Friday after surging to the highest on record this week. Every Group-of-10 currency strengthened against the greenback, with the risk-sensitive Australian dollar and Norwegian krone leading gains.
Bitcoin has been stuck in the tightest trading range in almost two years in September, in part reflecting uncertainty about how far central banks will go in raising interest rates in the face of a slowing global economy. Amid the lack of direction, some analysts have pointed to activity in futures markets as suggesting Bitcoin may be poised to break out.
Riyad Carey, an analyst at crypto researcher Kaiko, highlighted a jump in open interest in Bitcoin futures on some of the biggest exchanges.
“It appears that there was a bit of pent up demand for BTC (and BTC volatility), which has traded in a relatively tight range for the past couple months with decreasing volatility,” Carey said in a direct message over Twitter.
Friday’s move was unusual in that Bitcoin outperformed almost all other top tokens tracked by Bloomberg. The MVIS CryptoComparte Digital Assets 100 Index advanced 6.1%. Smaller so-called altcoins typically fluctuate by larger magnitudes than Bitcoin, the industry’s bellwether.
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Dancing Seahorse, an innovative Web3 business that aims to disrupt the music industry, has announced that it will be the headline sponsor at the forthcoming Web3 conference Zebu Live. The annual two-day conference’s second edition will bring together some of the brightest minds in the Web3 industry, as well as showcase the talent and innovation that is taking place in the nascent Web3 space.
Following the success of last year’s Web3 conference — conceived and executed by leading Web3 marketing agency Zebu Digital — this year’s Zebu Live event will see even more participation from high-profile sponsors, media partners and key industry figures, including Dragon and Thirdweb co-founder Steven Bartlett and Aave founder and CEO Stani Kulechov.
As the headline sponsor for Zebu Live, and as firm believers in the Web3 space, Dancing Seahorse will provide fundamental support and expertise, bringing immense value to the conference and reflecting the core tenets and principles of Zebu Live.
Ashton Barger, events and partnerships manager at Zebu Digital, commented: “We are partnering with Dancing Seahorse as we share the same core vision of driving adoption and pushing for greatness in the Web3 space. Zebu Live supports the way in which Dancing Seahorse aims to disrupt the music industry by using the technologies of Web3. We are extremely grateful for its support as our title sponsor and for trusting us to put on a great event. We can’t wait to see Dancing Seahorse achieve greatness, as they are backed by a phenomenal team with some of the best connections in the music and Web3 industries. We know they have some really exciting plans lined up that will wow the attendees at the conference venue and the after party!”
Dancing Seahorse is perfectly situated to drive adoption of the Web3 industry, with its goal to fund the future of the music industry through NFTs providing the perfect collaboration between the traditional music industry and the growing Web3 space.
Dancing Seahorse provides access to once-in-a-lifetime exclusive experiences, financial rewards and a wealth of networking opportunities — all backed by some of the world’s most prominent music artists and investors. For the last six months, the whole Web3 and NFT community has been craving a project that demonstrates how blockchain technology can disrupt global industries. Dancing Seahorse provides the most amazing in-person experiences with the highest-quality handcrafted 3D art.
As an exhibit of prowess within the crypto world, the partnership between Zebu Live and Dancing Seahorse is an example of how collaboration is key to the development of the Web3 space.
Chris Joyce, creative director at Dancing Seahorse, commented on the partnership between Dancing Seahorse and Zebu Live, noting: “We are thrilled to be supporting Zebu Live as headline sponsor at this year’s event. As a project that demonstrates how blockchain technology can disrupt global industries, Dancing Seahorse is perfectly positioned to be a representative of the limitless possibilities of Web3. We look forward to showcasing the brilliance of the Web3 industry, and anticipate celebrating the success of London’s leading Web3 conference.”
In addition to headline sponsor Dancing Seahorse, Zebu Live is sponsored by key industry figures, including Koinly, Tezos and Algorand, whose participation will allow the event to bring together some of the most influential communities in Web3. Further sponsors include Near, Cudos, SparkWorld, Lens Protocol, Swapsicle, The Nemesis, Bolide, Thirdweb and over 50 more partners.
Zebu Live will also feature more than 40 sessions on Web 3, DeFi, NFTs, the Metaverse, DAOs and GameFi, and is part of London Web3 Week, running from Sept. 19 to 25, featuring networking events and parties all week long. Alongside the array of partners, panels and keynote speakers, Zebu Live will feature a Press Van, an NFT gallery by Ethereal Collective that will showcase the top artists and creators in the industry, as well as a chill room, alpha stage and a VIP dinner.
With Zebu Live quickly becoming one of the top Web3 event brands in the world, its focus on curating the most innovative and interactive conferences will also reflect in the unmissable afterparty at the infamous Koko nightclub in Camden, which has free entry for those with a ticket. Afterparty sponsors include Dancing Seahorse, Swapsicle and Luno, with DJ Madlib set to headline and additional entertainment taking place throughout the night.
Tickets are available now.
The team at Magpie Protocol is pleased to announce that its $3-million Seed round has been completed.
With Jump’s assistance, Magpie Protocol is poised for success and is additionally supported by notable investors, such as Sandeep Nailwal, GSR Markets, ParaFi Capital, Republic Capital, Big Brain Holdings, Serafund, Faculty Group, MH Ventures, D1 Ventures, ArkStream, Apollo Capital and more.
After seeing what Magpie Protocol is developing and offering to the crypto space, Jump Crypto — which looks for projects full of passion for decentralized finance (DeFi), focused on innovation and is full of engineers, investors and traders consumed by building the future of DeFi — made the decision to cement itself as the lead investor in the project.
“As the crypto infrastructure landscape expands multichain, Magpie’s cross-chain liquidity aggregation protocol and array of other cross-chain microservices offer the much-needed abstraction layer and seamless execution for the end-user.” — Saurabh Sharma, head of investments at Jump Crypto
Next is GSR Markets, which partners with brave and brilliant entrepreneurs who are building the future of finance. GSR works with cryptocurrency projects at crucial points in their life cycle, providing robust liquidity that helps enable their technology. Together, we’re going to change the landscape of DeFi and the global economy. We’re very excited to be supported by them.
“We’re excited to be working with the Magpie Protocol team as they continue expanding decentralized liquidity provision to clients through bridgeless, cross-chain liquidity aggregation.” — GSR Markets
Republic Capital selects investments based on business fundamentals with a focus on unit economics, strategy and the opportunity to disrupt a market. Everyone believes in Magpie Protocol to be a part of this changing of the future of DeFi and the global market.
“We are thrilled to be early backers of Magpie and its team. Interoperability is a key component of the crypto ecosystem, and we believe Magpie’s solution is one of the most elegant and easiest to use in the space.” — Republic Capital
Magpie Protocol is a decentralized liquidity aggregation protocol for cross-chain swaps aiming to provide the best deal on any asset across top blockchains without the need to bridge assets independently. Instead, our novel architecture uses bridges primarily as a data transfer layer to communicate swap signals between chains. The result is an extremely fast and secure solution to cross-chain swaps.
Bridge security concerns are at the forefront of DeFi at this time, being a crucial component in promoting the trustless and inclusive foundations upon which DeFi is built. Most bridges are custodial, meaning users must entrust their tokens with the security of the bridge by locking assets in a smart contract. This centralization of bridged assets creates single points of failure, which can put multiple ecosystems in danger if they are exploited.
A recent report by Chainalysis, a blockchain data platform, estimates a total of $2 billion in cryptocurrency has been stolen from cross-chain bridges in 2022 alone. This goes to prove that creating a secure cross-chain bridge solution is a must in DeFi.
Magpie is a project that was incubated by Saxon, which helps idea-stage crypto entrepreneurs to launch game-changing DeFi and infrastructure projects. They provide holistic support, spanning from product market fit and business development to tokenomics and fundraising.
“It’s been a pleasure working with Ali and the wider Magpie team to bring this disruptive approach to cross-chain swaps to market. With the launch of a new generation of L1s just around the corner, the timing could hardly be better.” — Ultan Miller, Saxon managing partner
Magpie’s architecture uses bridges to communicate swap signals between chains, without the need to lock, burn or mint assets on or within a bridge. By combining an off-chain liquidity network and bridge liquidity with a proprietary liquidity aggregation protocol, Magpie is chain-agnostic, meaning it is compatible and able to initiate swaps for the desired token on any chain, without limiting factors as other aggregation protocols, and whether or not the chain is Ethereum Virtual Machine-compatible or not. Not only does this result in near instant finality for users but it also enables Magpie to be fully noncustodial by keeping assets in control of the user rather than a third party or bridge, which greatly improves the security of users’ assets.
“I’d like to personally thank all of our investors and team members for your support in Magpie. We’re all incredibly proud of the work the team has done thus far, but it’s only the beginning. Now the work begins for the next round of funding as well as preparing to launch our private and public alpha testing events in the coming weeks. It has been an amazing journey so far, and we have a lot in store for us in the coming years.” — Ali Raheman, CEO and founder of Magpie Protocol
At the time of writing, Magpie Protocol is compatible with many established chains and DeFi protocols, including Ethereum, Polygon, Avalanche and BNB Chain. Additionally, we have announced plans to expand to Fantom, Solana and other blockchains in the near future.
On the back of this successful raise, Magpie Protocol will continue expanding strategic relationships and partnerships once its private alpha testing has concluded.
For additional information on Magpie, check out our website and follow us on social media.
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The CEO of cryptocurrency lending platform Celsius Network and state authorities were allegedly deceived regarding the company’s financial standing and compliance with securities rules, according to the Vermont Department of Financial Regulation, or DFR, Cointelegraph reports.
Vermont’s financial regulator claimed in a document filed on Wednesday with the U.S. Bankruptcy Court in the Southern District of New York that Celsius and Mashinsky “made false and misleading claims to investors” that allegedly downplayed worries about market volatility and enticed small-scale investors to keep their money on the platform or make new investments, Cointelegraph stated.
Despite claiming to have enough money in reserves to lessen the risk of insolvency, Celsius and its CEO “lacked sufficient assets to repay its commitments,” according to the state regulator.
Mashinsky’s tweets and corporate blogs from the beginning of 2021 were referenced by the DFR as evidence that the platform was “profitable or financially healthy” despite suffering “catastrophic losses” and failing to generate enough income to support returns.
The regulator also stated that it had learned of allegations that were based on solid evidence that Celsius and its management team “engaged in the inappropriate manipulation of the price of the CEL token,” utilising investor cash to buy extra tokens and giving many of them to depositors as interest.
Celsius boosted and supported the price of CEL by boosting its Net Position by hundreds of millions of dollars, falsely inflating the company’s CEL holdings on its balance sheet and financial accounts, according to DFR associate general counsel Ethan McLaughlin.
Liabilities would have outweighed assets since at least February 28, 2019, absent the Company’s Net Position in CEL. At the expense of retail investors, these methods might also have benefited Celsius
A probe into Celsius’ suspected price-fixing of CEL tokens is demanded by the financial watchdog since it “artificially inflated[ed] the worth of the company’s net position in CEL on its balance sheet and financial statements.” Despite the fact that Celsius formally filed for Chapter 11 bankruptcy in July, the DFR’s review of the platform’s balance sheet indicated that it might have been insolvent as early as May 13.
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The Federal Reserve’s new banking regulator outlined a broad agenda in a speech Wednesday that pushed for action on stablecoins, climate change preparations and both the safety and fairness of the finance industry.
Fed Governor Michael Barr, whose title of vice chair for supervision gives him broad powers over the nation’s banks, gave his first policy speech since being confirmed by the Senate.
Among his priorities: a push for Congress to enact comprehensive regulation over stablecoins, or cryptocurrencies pegged to other assets, often currencies.
He also said that next year the Fed will launch an exercise “to better assess the long-term, climate-related financial risks facing the largest institutions.”
And he said a push for a system that is not only financially sound but also fair, particularly to those at the lower end of the income spectrum with less access to banking services, would be a major priority.
“Fairness is fundamental to financial oversight, and I am committed to using the tools of regulation, supervision, and enforcement so that businesses and households have access to the services they need, the information necessary to make their financial decisions, and protection from unfair treatment,” Barr said in a speech at the Brookings Institution in Washington, D.C.
Barr presides now over a financial system that is generally thought to be well capitalized but was still hit by market disruptions requiring Fed intervention in the early days of the Covid crisis. The rise of cryptocurrencies and stablecoins also has posed challenges for the Fed, which is exploring a potential digital currency of its own.
He called for increased scrutiny of the crypto industry and the risks that it poses.
“Stablecoins, like other unregulated private money, could pose financial stability risks,” Barr said. “I believe Congress should work expeditiously to pass much-needed legislation to bring stablecoins, particularly those designed to serve as a means of payment, inside the prudential regulatory perimeter.”
On climate change, Barr waded into an area that has drawn criticism from some Republican congressional leaders who believe the Fed is overstepping its mandate.
Barr said the Fed wants to understand the risks that climate events pose to the system, while acknowledging that the central bank’s interest on the issue is “important, but narrow.”
Along with the Office of the Comptroller of the Currency and the FDIC, the Fed is working up ways it wants banks to “identify, measure, monitor, and manage the financial risks of climate change. In addition, we are considering how to develop and implement climate risk scenario analyses.”
On the fairness issue, Barr said he wants a system that provides consumers with access to services and information to protect them from abuse.
“As innovative financial products develop and grow rapidly, excitement can outrun the proper assessment of risk,” he said. “As we have seen with the growth of crypto assets, in a rapidly rising and volatile market, participants may come to believe that they understand new products only to learn that they don’t, and then suffer significant losses.”
Barr said he also will work to ensure that banks that participate in crypto-related endeavors have risk controls in place.
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B2Broker, a leading provider of liquidity and technology solutions for the forex and cryptocurrency industries, has successfully unveiled its brand-new White Label cTrader platform. The new solution was designed with the goal of providing brokers with direct connections to one of the most popular multi-asset trading platforms on the market there is.
Many market participants have already verified that the cTrader platform is modernized software with revolutionary capabilities and complex trading instruments. All of that contributes to the platform’s popularity among professional traders.
Moreover, brokerage firms will now have the unique opportunity to provide their customers with robust trading conditions on the cTrader platform by implementing the White Label solution delivered by B2Broker.
About White Label cTrader
Utilizing B2Broker’s White Label cTrader solution, everyone looking for a modern solution will have the ability to start their own forex, cryptocurrency or any form of brokerage. The platform’s powerful front end may be customized in any way firms want it to. Such factors make it simple for both institutional and retail enterprises to provide unique and tailored solutions to their clients.
The CEO of B2Broker, Arthur Azizov, said the following:
“CTrader is a well-known platform with a proven track record of success, and it is used by all the market’s top brokers. A quick search on the App Store for cTrader will reveal all the major companies that use this platform.
We believe that in today’s ultra-competitive markets, every broker must offer a wide variety of trading platforms to its clients. Otherwise, the broker would lose clients who wish to trade on the cTrader platform. In addition to the traditional trading capabilities provided by the MT platform, cTrader will almost certainly attract a new category of traders and investors.
When it comes to managing your crypto brokerage, and its algo capabilities, cTrader is one of the top solutions on the market.
Since 2021, we have been seeing a growing demand for cTrader among cryptocurrency brokers. Since many cTrader brokers use our liquidity offering, we’ve decided to open a whole new world for brokers that want to grow more sophisticated and cater to traders’ needs rather than requiring them to use a single platform.”
The White Label cTrader platform is trustworthy and simple to use and provides brokerages with all of the functionalities they need to prosper. There is no need to purchase a cTrader server license, arrange a backup system, create a worldwide network of connected servers or employ an additional workforce to configure and manage the server structure regularly. We automatically do it for you.
Features
- The extensive ecosystem, which includes tools for liquidity, trading platforms, trader rooms, payment solutions and IB programs, is one of the main features of the White Label cTrader. The combination of cTrader’s sophisticated trading tools and B2Broker’s accumulated liquidity pool and continuous client assistance makes an attractive solution for brokerage firms. Our solutions let you get immediate access to complete environment integration.
- Your brokerage team will be given a thorough introduction to the WL cTrader and cBroker user interfaces and capabilities. An explanation of the cTrader platform and an overview of the features and capabilities available to traders will be included in the training session.
- Moreover, you will be given access to top-level liquidity thanks to the connection to banks and other key financial institutions. This guarantees you will have the choice to offer your clients narrow spreads with low delay and lightning-fast execution.
- B2Broker offers dependable, non-stop multilingual services. Therefore, you’ll never walk alone thanks to B2Broker’s 24/7 professional customer support. Should you have any questions, your issue will be resolved shortly.
- Algo trading in C# with customizable indicators and bots is yet another highly appreciated feature. Utilizing B2Broker’s White Label cTrader, you can now provide your clients with an easy-to-use and configurable algorithmic trading solution.
- You will obtain the necessary licenses and permissions to maintain your business properly. Legal requirements are handled during the setup, allowing you to focus on what matters most: expanding your business.
- You will also have exposure to a demo setup, third-party integrations, STP, fair pricing, a modern UI and other features. Furthermore, by having proxy servers carefully positioned worldwide, you can be confident of a consistent connection with little to no lag time.
- The cTrader platform is a complete trading solution that includes everything a broker requires to be successful. With B2Broker’s White Label cTrader, you can provide your clients with a top-class trading experience consisting of all the tools and capabilities they require to trade successfully.
Final thoughts
B2Broker’s White Label cTrader is the ideal solution for brokers wishing to provide their customers with a world-class trading environment. Your customers will have the ability to trade confidently and effectively. With B2Broker’s 24/7 client service, you can be assured that any issues will be resolved as soon as possible. So, if you’re seeking a dependable and complete trading solution for your brokerage, B2Broker’s White Label cTrader is the way to go.
Bitcoin fell below $19,000 on Wednesday morning, at one point hitting its lowest level since June following a drop in stock markets globally and the continued strength of the U.S. dollar.
The value of the entire cryptocurrency market also fell below $1 trillion as digital coins across the board saw a sell-off.
Bitcoin was last trading slightly higher at around $18,955.34, according to Coin Metrics. Ether, which has far outpaced bitcoin’s gains in recent months, hovered below the flat line, at $1,571.20.
Central banks around the world are battling rampant inflation with tightening monetary policy. The U.S. Federal Reserve has undertaken a series of interest rate hikes totaling 2.25 percentage points. Markets are expecting further interest rate rises.
Policy tightening by the Fed has strengthened the U.S. dollar which has weighed on risk assets. The 10-year U.S. Treasury yield has also surged.
Bitcoin has traded in correlation to stocks and so if they fall, in general, so does the cryptocurrency.
“The macro environment also continues to prove difficult with the dollar continuing to put in highs. This impacts all risk assets as we can see,” Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno, told CNBC.
“If we see the dollar start to move back down, then we should be able to get risk assets such as bitcoin move back up again.”
The crypto market has been battered this year with nearly $2 trillion wiped off its value since its peak in November. Bitcoin is about 60% off its record high of $68,990.90 that was hit in November.
The sell-off has been caused by a tough environment for risk assets as well as crypto-specific issues including collapsed projects and bankruptcies that has spread across the industry.
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BIFROST, a universal multi-chain technology platform, enters the native cross-chain lending market with a plan to eliminate widespread reliance on wrapped tokens.
BIFROST Finance (BiFi) is a multi-chain, decentralized money market that offers lending services across the Ethereum, Avalanche, BNB Chain and Klaytn networks. The release, unlike other decentralized finance (DeFi) services, relies on BIFROST’s interoperability technology to make it more scalable and transparent, while simultaneously enabling BiFi to natively integrate Bitcoin (BTC) into the Ethereum-based market.
The result is that with its release, users can borrow Ethereum-based assets against their BTC native to the Bitcoin (BTC) network, without having to trust issuers of wrapped tokens, such as Wrapped Bitcoin (wBTC).
Effectively, by enabling an efficient cross-chain money market, as well as other DeFi apps, the primary use case for wrapped tokens will be virtually eliminated. Preserving a design that relies on native tokens allows users to keep the security guarantees of the underlying network that, to a large extent, makes native assets valuable in the first place. Wrapped tokens, on the contrary, are only as secure as the multi-signature wallet that is used for the custody of the bridged assets.
Steps towards a multi-chain future
The BIFROST team’s announcement about BiFi comes at a pivotal time. Consider that the industry as a whole is trending toward a multi-chain future, a reality indicated by the rise of activity on alternative Layer-1 solutions following last year’s DeFi summer. It was then that the world saw the benefits of DeFi applications on Ethereum sidechains, and L1s started gaining traction for two reasons: the high Ethereum gas fees that priced out many users and the exposure of users to new ecosystems.
These new ecosystems presented significant opportunities, often fueled by incentives that were put in place. Unfortunately, many of these users also wanted to keep exposure to their assets that are native to the Ethereum network.
For instance, an Ether (ETH) holder wanting to get exposure to the Avalanche ecosystem, which is incentivized by the Avalanche Foundation, would bridge their Ether to the Avalanche network first. Then they would borrow stablecoins on Aave against the Ether and buy Avalanche (AVAX), or some other token native to the Avalanche network, that they could use in other DeFi applications.
As bridges attracted tens of billions of dollars in total value locked, they also became the most lucrative targets for hackers, and a series of exploits followed shortly thereafter. According to Rekt.news, four out of the five largest crypto hacks recorded are due to vulnerabilities related to token bridges, for a total of more than $1.5 billion in capital lost.
While smart contracts also have vulnerabilities that led to exploits, the consequences were typically the same. As the smart contract on one chain was drained, the wrapped assets issued on the other chain became worthless too, since the collateral backing them was stolen.
The logical conclusion to these vulnerabilities is simple — a solution like BiFi that allows users to borrow native tokens, resulting in a significant reduction of risk. Even in a worst-case scenario, users would still have control of the native tokens they borrowed.
A native lending network that keeps growing
Now, with the BIFROST network’s mainnet launch around the corner, BiFi is preparing to gradually add native lending on other chains, starting with Polkadot, BNB Chain and Avalanche. The BIFROST team is excited to provide this novel technology to solve an ever-present weakness in the current state of DeFi.
About BIFROST
Founded in 2016, BIFROST was born when a team of experienced finance, computer science, quantitative trading and fintech developers came together with the goal of turning the promise of blockchain into a widespread reality. The team, which now comprises trusted advisors from Coinplug, Blockwater Management, Block Crafters and Kaist engineering, has since turned this mission into creating a truly multi-chain technology. To display the platform’s full potential, the team continues to build out its leading DeFi offering, BiFi, completely powered by BIFROST.
ZeeroZone and Ethereum are two platforms leveraging blockchain technology to address issues associated with traditional games. These decentralized platforms offer NFTs, which improve the experience of online gaming.
Similarly, NFTs address the problem of centralized ownership of assets which causes gamers to overspend in traditional gaming.
Zeerozone and Ethereum profer solutions to limited payment systems that have secluded gamers in regions where the payment platforms do not function.
ZeeroZone and Ethereum
Zeerozone (ZEZO), like other blockchain games, has made gaming a commercial activity. Here, players explore the ecosystem and use spaceships for hunting for treasures.
Further, they increase their chance of success by allying with other players. If the alliance succeeds, they can mint whatever treasures they find into NFTs and sell them on the NFT marketplace.
Meanwhile, Ethereum (ETH) is an open-source platform that provides solutions like decentralized finance, digital currencies, and decentralized applications (e.g., blockchain games).
After Bitcoin, Ethereum is the second largest cryptocurrency project in terms of market cap. Moreover, Ethereum’s smart contract framework allows developers to launch NFTs.
How ZeeroZone and Ethereum revolutionize gaming with NFTs
Centralized gaming platforms spend lots of time, energy, and resources building games. Therefore, they always control all in-game assets and currencies. Also, they use every opportunity to bill players and recover their expenses.
Players usually purchase cosmetics and items to boost their game characters to progress to the next level. Despite the amount spent on these items, the developers eventually retain the money and value of the assets.
On the other hand, ZeeroZone(ZEZO) and Ethereum (ETH) leverage NFTs to take ownership of gaming assets possible. Accordingly, gamers now have the opportunity to make real money as they play games.
The play-to-earn model attracts millions of players globally, raising the blockchain gaming industry to $3 billion in 2021.
ZeeroZone (ZEZO)is a play-to-earn game that players can use as a source of passive income. On ZeeroZone (ZEZO), players receive rewards in the form of NFTs, which they also fully own. Players may sell an NFT for ZEZO tokens or trade it for another NFT within the game.
The first and largest NFT marketplace, OpenSea, was built on the Ethereum blockchain. The platform currently boasts some 80 million non-fungible tokens, including the most expensive collections. NFT collectors who purchase these items retain ownership unless they sell or transfer them to others.
ZeeroZone (ZEZO) and Ethereum (ETH) provide solutions to global payment
Online games are sometimes restricted to a particular geographical location. Therefore, it might be challenging for players in other regions to subscribe to or purchase gaming items. More so, such limitations can lower a game’s number of players and reduce its revenue.
On the other hand, the ZeeroZone (ZEZO) game and Ethereum (ETH) blockchain use cryptocurrencies as a means of transaction. Their payment solutions are helpful for people from every corner of the globe with access to the internet.
Further, ZeeroZone (ZEZO) provides players a secure wallet upon registration. Players can store ZEZO tokens in this wallet and use it to purchase different items such as spaceships, planets, artifacts, etc. As Zeerozone’s adoption increases, the ZEZO token will also increase in value.
Smart contracts and blockchain-based web 3.0 services started with Ethereum (ETH). Also, it hosts the most extensive DeFi services like Uniswap, Sushiswap, OpenSea, and AAVE.
The following are advantages of using Ethereum:
- Transfer funds to any location and receive them within minutes
- Store digital currencies in a secured and anonymous wallet.
- There are no central scrutinization or limits to transactions.
- Borrow and lend money on a decentralized protocol.
Zeerozone (ZEZO) intends to provide players with adventurous entertainment and immersive gaming. At the same time, players can earn real money in exchange for time spent in gameplay.
Visit Website: http://zeerozone.com/
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