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All Players Earn in CryptoTanks Regardless of a Battle’s Outcome

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All Players Earn in CryptoTanks Regardless of a Battle’s Outcome

The play-to-earn gaming economy continues to grow due to massive public demand.

CryptoTanks, a new game running on Polygon and Binance Smart Chain, leverages NFT technology to empower the players. Bringing a military and shooter-oriented game to the play-to-earn ecosystem is a further expansion of this growing ecosystem.

The CryptoTanks Game Explained

Several play-to-earn blockchain games have proven successful in recent months. Ranging from Axie Infinity to StarAtlas and MOBOX, there is a lot of momentum in the space. Players enjoy the concept of controlling their in-game assets and potentially monetizing them in the future. It is the way video games should be: players control their assets and interact with others through built-in marketplaces to earn passive income.

CryptoTanks follows along the same train of thought, although its game is slightly different. The military theme is a different spin on blockchain gaming, as there is still a limited amount of playable game genres today. However, any game can use blockchain technology and NFTs to empower its players, and there is still much exploration.

The mechanics of CryptoTanks are comprehensible: play the game by using in-game tanks, participate in battles, complete quests, and upgrade machines to increase their characteristics and value. Every in-game item is a non-fungible token(NFT) that players can exchange for real money. As there is no need to buy expensive NFTs to start playing CryptoTanks, the game approaches the free-to-play / play-to-earn level.

Although not everyone will be a fan of the 8-bit gameplay, it is an enjoyable experience and makes it approachable for players of all ages. However, it is worth noting there is tremendous variation in the game, as the scenery will change regularly. Additionally, the game offers multiple game modes, including solo and team-based play. The three game modes can award experience, $TANK tokens or money.

Similarities With Battle City

Upon taking a closer look at CryptoTanks, one can see an overlap with the Battle City game for Nintendo and GameBoy consoles, released in 1985. Certain elements are alike, yet CryptoTanks’s team has added mew locations, missions, tanks, battle modes, decentralized finance and non-fungible token aspects. It is a modern reboot of a cult classic that came out several decades ago.

Through CryptoTanks, players can explore a world of nostalgia while benefiting from new technology development by the cryptocurrecy community. DeFi and NFT introduce new gaming incentives, such as the ability to earn or put in-game assets to work for revenue. Players can still enjoy the iconic 8-bit graphics of Battle City but with a few modern twists. CryptoTanks, as a gamified yield farming project, combines beauty with nostalgia and guaranteed prizes.

What Are The Benefits of CryptoTanks?

Whereas other games would require players to make a significant upfront investment, CryptoTanks takes a different approach. Players can buy NFT tanks from the marketplace. Additionally, players can rent tanks from other players for a revenue share of the winnings. The third option is earning $TANK tokens by playing the game and completing objectives.

The team aims to make CryptoTanks as accessible as possible. The mobile applications for Android, combined with desktop applications for Mac OS and Windows, are a step in the right direction. Launching on iOS would be big, as mobile games are trendy these days. As players earn $TANK tokens for every game played regardless of the outcome, there will always be a way to convert playtime to real money.

The developers plan to introduce more functionality in the future. One of them would make players unique characters with personality traits. Going down that route would create a unique experience for everyone, which is unusual in the gaming industry. Whether that is feasible or not is a different matter. Assuming it is, there will be different types of classes, yet no two players in the same class will have the same experience.

Closing Thoughts

It is interesting to see more game types in the play-to-earn blockchain universe. The majority of current games are fantasy and RPG-themed, yet there are dozens of gaming genres. Combining that genre with blockchain and NFT technology can lead to innovative concepts over time.

If that experience can be made unique for every player, the industry will likely undergo tremendous growth. Developers continue to push the boundaries of what is considered possible. All of these developments will prove beneficial to video games as a whole, even if not all titles will embrace the play-to-earn model.

 

 

 

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Polkadot (DOT) Price Aims $100, Predicts Popular Analyst

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Polkadot (DOT) Price Aims $100, Predicts Popular Analyst
  • The price of Dot increased by 19 percent to $43.56 on Binance.
  • DOT is currently just 16 percent away from reaching its all-time high of $49.39.

Following the announcement of a parachain auction date, Polkadot’s token reached $40 for the first time in five months. Thus, the interoperable multichain network will be one step closer to becoming fully operational. Its parachains may be linked to other blockchains, such as Ethereum, enabling the development of services such as DeFi and NFTs.

Polkadot has announced that its network is now ready to install parachains five years after the idea was first introduced to the world. According to the project whitepaper, parachains are the last network development milestone before deploying the network.

DOT is currently just 16 percent away from reaching its all-time high of $49.39, which was reached on May 15th of this year. DOT is currently trading at $40.44, a 15.4 percent increase from its previous close.

DOT/USDT: Source: TradingView

Announcement of the Auction

Following the announcement of the auction, the price of DOT increased by 19 percent to $43.56 on Binance. When we checked on Thursday, the stock was trading at $40.76. The currency was trading at 40.44, down 2.93 percent from its previous high.

In the last four hours, the price has dropped to $41, suggesting that the situation is deteriorating. The most recent increase was significant, pushing over the $42 barrier. If the price of DOT continues to climb, it may hit resistance levels of $42 and $44.

Michael van de Poppe, a well-known trader, and expert, recently projected a Polkadot price of $100. If DOT fails to maintain recent critical highs, a decline may be on the horizon. As a result of the slide, the DOT will have to put the $38 and $36 support levels to the test. According to CoinMarketCap, the Polkadot price today is $40.44 USD with a 24-hour trading volume of $2,460,683,909 USD.

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Strike Launches New Feature To Allow Users Convert Salaries To Bitcoin

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Payments processor Strike has announced the launch of a new feature that will allow users to convert their paychecks to bitcoin. This feature brings workers one step closer to collecting their paychecks in bitcoin. Instead of the employer paying out wages and salaries in BTC, employees can take the paychecks they receive and convert them to cryptocurrency in one easy step.

Receiving Paychecks In Bitcoin

Strike is enabling users to convert all or some of their paychecks into BTC. Instead of cashing into fiat and then having to change back to BTC, users can directly convert to BTC using the paycheck that they receive. The feature is known as “Pay Me in Bitcoin” was announced on Thursday and is one of Strike’s efforts to make BTC readily available to its users.

Related Reading | Why We Could See The First Approved U.S. Bitcoin ETF In October

Strike is best known for helping El Salvador in their journey to bitcoin adoption, but they are also a bitcoin-focused payments processor that allows users to receive and pay in BTC. And with the new feature, get paid in BTC with no hassles.

Strike completely bypasses the need for employers to adopt and start paying their employees in cryptocurrencies. Instead giving employees the power to decide if they would rather convert their paychecks to fiat currency or cryptocurrencies. This also means that employees are not limited by the payments options their employers use. It doesn’t matter the company individuals work for, they can choose to have their paychecks deposited in bitcoin.

BTC price trading above $61,300 | Source: BTCUSD on TradingView.com

Following The Lead Of Coinbase

Strike’s announcement of the “Pay Me in Bitcoin” feature comes only a few weeks after Coinbase launched a similar feature. In the announcement post, Coinbase shared that customers were now able to deposit their paychecks directly to cryptocurrencies to ease their trading activities and just like Strike, streamline the process of users converting their money to cryptocurrencies.

The feature has been welcome in the crypto space as investors can now decide to deposit their full paycheck or a portion of it into their cryptocurrency tradings accounts. Customers could also choose to deposit their paychecks directly to U.S. dollars on Coinbase, which they can then use to carry out their trading activities on the platform.

Related Reading | Bitcoin Breaks $60,000 Ahead Of SEC ETF Approvals

Similar to Coinbase, Strike announced that the feature will initially be available to users in the United States. Roll-outs for other countries may be in the works but there has been no confirmation of these. Although users can only convert their paycheck to bitcoin on Strike, Coinbase offers users a wider variety as they can convert their paychecks to the over 100 cryptocurrencies currently listed on the exchange.

Featured image from Inc. Magazine, chart from TradingView.com
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ADA Price In Consolidation Whereas Cardano Eco-system Is Expanding!

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ADA Price In Consolidation Whereas Cardano Eco-system Is Expanding!
  • Early October saw a lower high of $2.30, suggesting consolidation.
  • Cardano is gaining momentum in many areas, not only DeFi.

The market has had a mixed day. Cardano’s price has been very steady for four days. This year, the price of ADA has increased by 1426 percent. An ADA coin now costs $2.20, and the market cap is close to $70 billion.

The Cardano price has been locked in a tight range for weeks, but it is now showing signs of life. The coin is currently worth about $2.20. That should continue to rise until significant events occur that cause it to decline. Cardano’s price has remained flat for weeks. Early October saw a lower high of $2.30, suggesting consolidation in a tighter range.

As a consequence, the coin may soon break out. Because this is a symmetrical triangle, the coin will break anyway. The $2.5 resistance and $2.0 support will be critical levels to monitor. ADA price cycle is the most parabolic ever, according to @Bitboy Crypto’s Ben Armstrong.

New Initiatives Emerge

On the fundamentals front, the Cardano ecosystem is becoming busier as new initiatives emerge. One such initiative is RavenDex, a decentralized exchange that has sold over 60% of its tokens to early adopters and aims to launch a fully functioning system by the end of the year.

Derived, another DeFi project released its IDO earlier. Ethereum, Polkadot, Avalanche, and Binance Smart Chain are supported by Derived, a multi-chain synthetic asset trading platform built on Cardano.

Cardano is gaining momentum in many areas, not only DeFi. The blockchain has just started supporting NFTs, enabling users to mint and trade them without a smart contract address. SpaceBudz recently announced the completion of its first Cardano-based NFT sale, which exceeded $1 million, a new record for the network.

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Bitcoin ETF Receives Approval from SEC, Marking Historic Day for Crypto

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SEC Approves Bitcoin ETF, Marking Historic Day for Crypto

Since the first meteoric rise of Bitcoin in 2017, asset managers and investment firms have looked to seize the opportunity in the growing space, attempting to bring the cryptocurrency to Wall Street. Of course, the majority of these efforts (if not all) were futile – caused by waning demand during downturns, opposition from government entities, or the general uncertainty surrounding crypto’s future as an asset class. But now, with Bitcoin gaining approval from the public, institutions, and even nations like El Salvador, it only seems right for crypto to finally cement its legitimacy. 

ProShares’ Bitcoin ETF Gains Approval from the SEC

Earlier today, the Securities and Exchange Commission (SEC) finally announced that it had approved the first ever Bitcoin Futures ETF in the United States. This is following months of deliberation and delays, with the commission delaying its verdict on at least a dozen or more additional Bitcoin ETF applications. Proshares, the asset management firm that filed its ETF earlier this summer, is set to launch as early as next week. In its amended prospectus updated on Oct. 15, Proshares stated that its ETF is expected to launch on Monday, Oct. 18. 

Without a doubt, this is a historic moment for the cryptocurrency space. Serving as a regulated alternative to directly holding the underlying digital asset, an accessible exchange-traded fund will mean an influx of funds from retail and institutional investors alike.

ProShares’ Bitcoin ETF will function similarly to that of Grayscale’s GBTC, where the ETF will track Bitcoin futures, rather than the price of the digital asset directly. SEC Chair Gary Gensler stated that future-based products will likely provide stronger investor protections due to the stringent securities laws they must operate under. 

As a futures-based product, there may be potential premiums or discounts relative to the net asset value (NAV). However, the Proshares’ ETF has a management fee of 0.95%, which is considerably lower than GBTC’s 2%. This, coupled with GBTC’s stringent redemption periods and deviation from the NAV, will likely lead to a mass rotation of funds from the GBTC to ProShares’ ETF. 

Breaking Down Bitcoin’s Price Action

The aforementioned news sent the crypto markets higher, with BTC nearing its all-time high price of $63,000. Earlier today, the price of BTC peaked at $62,600. At press time, BTC is priced at $61,300 – up 6.36% in the past 24 hours alone.

Following news of Bitcoin’s first ever ETF approval in the US, investors rejoiced as Bitcoin (BTC/USD) rallied to close in on its ATH prices. Source: Tradingview.com

According to CoinMarketCap, the major cryptocurrency has reclaimed its $1 trillion market capitalization, comfortably sitting at $1.15T. Ethereum and other major altcoins reacted positively to the news, closing in on their respective all-time high prices.

Featured image from UnSplash

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SEC Approves Bitcoin ETF, Marking Historic Day for Crypto

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SEC Approves Bitcoin ETF, Marking Historic Day for Crypto

Since the first meteoric rise of Bitcoin in 2017, asset managers and investment firms have looked to seize the opportunity in the growing space, attempting to bring Bitcoin to Wall Street. Of course, the majority of these efforts (if not all) were futile – caused by waning demand during downturns, opposition from government entities, or the general uncertainty surrounding crypto’s future as an asset class. But now, with Bitcoin gaining approval from the public, institutions, and even nations like El Salvador, it only seems right for crypto to finally cement its legitimacy. 

Bitcoin ETF Finally Gains Approval from the SEC

Earlier today, the Securities and Exchange Commission (SEC) finally announced that it had approved the first ever Bitcoin Futures ETF in the United States. This is following months of deliberation and delays, with the commission delaying its verdict on at least a dozen or more additional Bitcoin ETF applications. Proshares, the asset management firm that filed its Bitcoin Strategy ETF earlier this summer, is set to launch as early as next week. In its amended prospectus updated on Oct. 15, Proshares stated that its ETF is expected to launch on Monday, Oct. 18. 

Without a doubt, this is a historic moment for the cryptocurrency space. Serving as a regulated alternative to directly holding the underlying digital asset, an accessible Bitcoin ETF will mean an influx of funds from retail and institutional investors alike.

ProShares’ Bitcoin ETF will function similarly to that of Grayscale’s GBTC, where the exchange traded fund will track Bitcoin futures, rather than the price of the Bitcoin directly. SEC Chair Gary Gensler stated that future-based products will likely provide stronger investor protections due to the stringent securities laws they must operate under. 

As a futures-based product, there may be potential premiums or discounts relative to the net asset value (NAV). However, the Proshares’ ETF has a management fee of 0.95%, which is considerably lower than GBTC’s 2%. This, coupled with GBTC’s stringent redemption periods and deviation from the NAV, will likely lead to a mass rotation of funds from the GBTC to ProShares’ ETF. 

Breaking Down Bitcoin’s Price Action

The aforementioned news sent the crypto markets higher, with Bitcoin nearing its all-time high price of $63,000. Earlier today, the price of BTC peaked at $62,600. At press time, Bitcoin is priced at $61,300 – up 6.36% in the past 24 hours alone.

Following news of Bitcoin’s first ever ETF approval in the US, investors rejoiced as Bitcoin (BTC/USD) rallied to close in on its ATH prices. Source: Tradingview.com

According to CoinMarketCap, the major cryptocurrency has reclaimed its $1 trillion market capitalization, comfortably sitting at $1.15T. Ethereum and other major altcoins reacted positively to the news, closing in on their respective all-time high prices.

Featured image from UnSplash
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Binance Grants Support to Polkadot’s Parachain Auction Upcoming in November

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Binance Grants Support to Polkadot's Parachain Auction Upcoming in November
  • The first auction is on November 11 and the last on November 18.
  • 11 Parachain auctions, successfully established on Kusama.

Binance declared its support for the Polkadot Parachain Slot Auction in November 2021 in the News section of its blog. Participants will be notified closer to the auction. Polkadot is ready for the parachain deployment, according to the project’s co-founder.

Parachains are used to achieve complete interoperability across multiple Layer 1 networks. To join the network, each chain must gather the required amount of votes through auctions. Previously, the Kusama network conducted several auctions in June and July to test the procedure.

The first auction is on November 11 and the last on November 18. Users may bid until November 18. The first winning parachain will arrive on Dec. Actions against Parachain will begin on November 11, according to Polkadot. The five-year-old project, almost completed. The relay chain’s unique layer-1 blockchain technology will enhance decentralized apps’ capabilities.

The Exchange said:

“A separate announcement will be posted with more details. Please stay tuned for the upcoming initiatives!”

Every week until December 9, five Polkadot Parachain auctions, anticipated. Furthermore, binance now supports Polkadot Parachain slot auctions.

Parachains Auctions on Kusama in the Past

11 Parachain auctions, successfully established on Kusama, a Polkadot testnet platform. Moreover, scalability, personalization, and the decentralized architecture of the blockchain depend on parachains.

Polkadot’s native token, $DOT, soared over 19 percent to a high of $43.6 on Wednesday when the planned dates for the Parachain Slot Auction, announced. Since then, the asset has retraced somewhat, trading around $40. According to CoinMarketCap, the Polkadot price today is $40.26 USD with a 24-hour trading volume of $2,500,434,238 USD.

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Jack Dorsey: Square Could Build Bitcoin Mining System

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Bitcoin waste

CEO of financial services company Square Jack Dorsey could take another step further into expanding the Bitcoin ecosystem. Via his Twitter account, Dorsey announced that the company is currently “considering” the possibility of creating a BTC mining system.

Related Reading | Square’s Cash App Reports $2.7B In Quarterly Bitcoin Revenue, A 200% Jump

A known Bitcoin bull, Dorsey has been exploring the sector throughout 2021 with important partnerships created with Ark’s Cathie Wood. As NewsBTC reported, the partners proposed an alternative driven system to support a renewable energy grid with Bitcoin miners.

Now, Square could be based their mining system on “custom silicon and open source for individuals and businesses worldwide”, the announcement said. Dorsey clarified that the mining system could track its hardware wallet model.

In August, the company revealed a new project to build a decentralized exchange to facilitate Bitcoin peer-to-peer trading alongside a hardware wallet. Similar to today’s announcement, the company emphasized the need to collaborate with the community and the ecosystem to benefit the project and the network.

Dorsey made some reflections on the nature of mining and:

Mining needs to be more distributed. The core job of a miner is to securely settle transactions without the need for trusted 3rd parties. This is critical well after the last bitcoin is mined. The more decentralized this is, the more resilient the Bitcoin network becomes.

In that sense, the CEO of Square believes BTC mining needs to be “more efficient” and to continue to move towards clean energy.

Related Reading | Why Square Will Create New Bitcoin-Focused Company, According To CEO Jack Dorsey

As stated in the aforementioned Whitepaper, BTC mining could be used to create and support an alternative energy system. Dorsey believes BTC and its network are a potential source of innovation for the renewable energy dilemma.

Square To Work On Bitcoin Mining For The Mainstream

Therefore, Square wants to make BTC mining more accessible to everyone in order to resolve the issues around Silicon design and vertical integration in the energy sector. Dorsey said:

Mining isn’t accessible to everyone. Bitcoin mining should be as easy as plugging a rig into a power source. There isn’t enough incentive today for individuals to overcome the complexity of running a miner for themselves. What are the biggest barriers for people running miners?

The CEO of Square said Jessi Dorogusker will lead a team to research the technical requirements to undertake the project with Afshin Rezayee and Thomas Templeton. Dorogusker said:

We will incubate the Bitcoin mining system project inside Square’s hardware team, starting with architecture, design, and prototyping of more efficient silicon, hashing algorithms, and power architectures.

At the time of writing, BTC trades at $61,945 with a 7% and 16.1% profit in the daily and weekly charts, respectively.

BTC on a rally in the weekly chart. Source: BTCUSD Tradingview

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Bitcoin ETFs Varies From Physically Backed Gold’s ETFs

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Bitcoin ETFs Varies From Physically Backed Gold's ETFs
  • While institutions favor physically-backed exchange-traded funds.
  • Governments and other organizations can no longer ignore Bitcoin’s existence.

The cryptocurrency community and the Bitcoin market are already expecting the approval of physically-backed Bitcoin exchange-traded funds (ETFs) in the near future. According to the latest predictions, the long-awaited innovation would result in massive institutional inflows in the bitcoin market.

Gold exchange-traded funds (ETFs), which contribute $10 trillion to the market’s worth, are adding gasoline to this fire. Bitcoin ETFs, on the other hand, may not have the same effect as gold ETFs. Physically-backed exchange-traded funds (ETFs) are popular among investors because tangible assets back them. Gold exchange-traded funds (ETFs), backed by gold, and the Bitcoin ETF will be as well.

Institutional investors could purchase a product backed through precious physical metal on the day gold ETFs, introduced to the market. Holding ETF shares allows traders and investors to “own” gold without purchasing physical gold bars.

Institutions Have Joined the Race

Bitcoin, on the other hand, is a different scenario. Individual traders and investors nowadays prefer to buy Bitcoin directly from a centralized or decentralized exchange.

While institutions favor physically-backed exchange-traded funds (ETFs), derivative-based ETFs continue to be a hazardous investment. It is almost certain that when Bitcoin ETFs stop trading, “new money” will pour into the cryptocurrency market. Since the beginning of 2017, most institutions have joined the race, with over $200 million in Bitcoin being invested each week. While the price action changes the trend, we may infer that the institutions have arrived in the marketplace.

It is, however, a historic moment for the whole cryptocurrency sector, demonstrating that governments and other organizations can no longer ignore Bitcoin’s existence.

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Filecoin (FIL) Collaborates With Flow, To Make NFTS More Decentralized

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Filecoin (FIL) Collaborates With Flow, To Make NFTS More Decentralized