Town Star pauses distribution of its TOWN token as it announces major changes to in-game economy
Gala Games has announced its decision to pause the issuance of the TOWN token due to a series of major economic changes to its play-to-earn farming title Town Star. The game will also switch to a new engine to improve its security and attract new players.
Square Enix backs Zebedee in $35 million round to integrate Bitcoin-based payments into video games
Fintech startup Zebedee has closed a new $35 million funding round. The company will allocate this money towards scaling its blockchain payment platform for virtual worlds. The ultimate goal is to help developers build real economies in video games and let players earn Bitcoin while playing.
Bankrupt blockchain fund Three Arrows Capital owes $3.5 billion to 27 creditors, including its co-founder and his wife
It has been revealed that almost 30 companies have lent money to Three Arrows Capital (3AC), a crypto hedge fund that filed for bankruptcy earlier this month. The total debt is $3.5 billion, with the list of creditors including the fund’s co-founder and his wife.
Crypto market reclaims $1 trillion valuation as Bitcoin and Ethereum prices soar
The global crypto market is now flashing green again, with Bitcoin and Ethereum showing significant gains. This rebound has made the global cryptocurrency market cap back above the $1 trillion mark after the latest collapse.
US senator calls on SEC to ‘crack down’ on crypto platforms that scam customers
Us Democratic Senator Elizabeth Warren has called on Congress and the Securities & Exchange Commission (SEC) to tighten regulations on the crypto industry and protect customers from scams. She thinks that authorities have to act more aggressively, especially after the bankruptcies of several firms have resulted in people losing their investments.
OpenSea cuts 20% of staff amid ‘unprecedented combination’ of crypto winter and macroeconomic instability
The talent attrition in the crypto market continues. OpenSea, the largest NFT marketplace in the world, has cut 20% of its staff. The company cited the so-called “crypto winter” and macroeconomic challenges as the main reasons behind this decision.
Animoca Brands hits almost $6 billion valuation, ready to survive crypto winter
Blockchain gaming giant Animoca Brands has raised $75.3 million, which brings its market valuation to $5.9 billion. The company will continue to invest in more titles, believing that the so-called “crypto winter” won’t kill the industry.
Shanghai to establish $1.5 billion fund to help launch 100 metaverse products by 2025
Shanghai’s government has announced it plans to establish a $1.5 billion fund dedicated to metaverse development. The initiative is supposed to accelerate China’s economic recovery through supporting companies working in this area.
Pocketful of Quarters becomes Unity partner to let devs transfer virtual currency between different games
Pocketful of Quarters (POQ) has become an official Unity partner. This will not only allow developers to implement blockchain technology for their projects, but also to transfer in-game tokens between multiple titles.
Axie Infinity infamous crypto hack reportedly happened due to fake job offer on LinkedIn
New details about the infamous hack that resulted in over $600 million being stolen from Axie Infinity have been revealed. It turned out that hackers tricked a Sky Mavis developer into applying for a fake job offer at a fictitious company.
Former TikTok gaming head launches Meta0 to develop multi-chain protocol for NFT games
Jason Fung, former head of TikTok’s gaming division, has founded the new company titled Meta0. He wants to fix infrastructure problems with blockchain gaming by developing a special protocol with multi-chain support.
Polium One dubbed “next-gen console for Web3 gaming” faces criticism, including copying GameCube logo
Blockchain company Polium has announced its own “multi-chain console” for Web3 gaming. The device, however, faced a lot of criticism online, with people struggling to understand its purpose. Not to mention its logo being similar to that of the GameCube.
Crypto fund Three Arrows Capital files for bankruptcy after failing to pay $670 million loan
Crypto hedge fund Three Arrows Capital (3AC) has filed for bankruptcy amid the ongoing blockchain industry collapse. The company is now seeking protection from creditors in the US after failing to pay a $670 million loan.