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Mr Beast Joins MetaWars’ Stellar Army of Backers

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Mr Beast Joins MetaWars’ Stellar Army of Backers

MetaWars is ready to launch to the stars after raising $2.3 million in seed capital, with none other than major YouTube star Mr Beast completing the stellar list of seed investors.

The hugely popular American content creator and philanthropist has been growing his cryptocurrency investment portfolio this year, and so the MetaWars team is especially delighted to have received his backing alongside seasoned venture capital firms after closing their strategic round.

Mr Beast joins ABV, Raptor Capital, CinchBlock, x21, CoinUnited.io, Double Peak, Magnus Capital, Everse Capital, Infinity Gainz, and Icetea Labs in providing the funding for the ambitious and exciting MetaWars project.

With these highly influential backers and their considerable reach onboard, the MetaWars team is expertly positioned to hit the marketing stratosphere and can fully focus on building the best space game in the blockchain.

The Massive Potential of MetaWars

MetaWars is a multiplayer sci-fi strategy game set in the future that will require both skill and strategy to master. A multi-layered, key tactical battlefield is the intergalactic setting for players to profit from the game’s war economy in a space exploration scenario.

Inside the game, players will need to find new universes, solve mysteries, claim territory, and defend their earned riches from adversaries in the metaverse. Anyone can build their own unique experience with the ability to exert control over the game’s ecosystem.

Players can wager, play-to-earn, and accumulate NFT collectibles through challenges, all while acquiring MetaWars’ utility tokens ($WARS) as profit, and in-game currency ($GAM) to help maximize that profit. The best players will also become the richest, according to the game’s design.

The Right Space To Be In

Video games have brought unprecedented growth to the cryptocurrency industry this year, with upwards of $50 billion reportedly raised in the first half of the year alone through investments, acquisitions, and public offerings in the blockchain gaming sector.

This is more than four times the number produced in 2020, catalyzed by a similar surge in the growth and popularity of non-fungible tokens (NFTs), which now play central roles in any video game title launched on the blockchain in the second half of 2021.

Following the advent of Decentralized Finance (DeFi) in the last two years, GameFi – which is simply the merging of DeFi and gaming – is already changing the way major stakeholders and investors find value.

In short, users can earn financial profits by playing video games. This is particularly important for projects aiming to serve large communities who want a loyal vase of users to utilize their tokens and engage with their products. And so the term Play-to-Earn was coined.

It is no great surprise, then, that Mr Beast – one of the largest YouTubers on earth with 71.6 million subscribers and a public passion for video games – chose to invest in MetaWars, one of the most promising titles that intend to maximize all of the capabilities of GameFi. His own personal interest in gaming makes his investment in the next huge trend a no-brainer.

Preparing For The WARS To Come

MetaWars is currently hosting an NFT auction for the public to gear up with mechas and additional resources. The prizes are valuable resources that would assist players in-game. To know more about the auction, visit here.

With $2.3 million seed funding secured, the next step for MetaWars will be preparing for its WARS public sale on three top launchpads.

MetaWars will conduct its public offering on GameFi, Red Kite, and Polylauncher on October 27th before listing on PancakeSwap, the leading decentralized exchange on Binance Smart Chain, on the same day.

Follow MetaWars’ official channels for more information and to stay up to date with developments.

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David Marcus, The Latest Top Executive To Leave Meta/ Facebook’s Crypto Project

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David Marcus, executive exiting

Another one bites the dust. David Marcus stepped down as the head of Novi, Meta/ Facebook’s fintech division. The company’s first order of business was to create a cryptocurrency, but regulators around the world were not keen on the idea. After a few missteps and name changes, they finally released a wallet called Novi to little fanfare. The coin, now named Diem, is still in development and unreleased.

Related Reading | What Zuckerberg’s Meta Means for the Metaverse

David Marcus Says Goodbye

This is not the first time this happens, other top executives have abandoned Meta’s ship over the years. CNBC recapitulates:

“Marcus’s departure follows that of other key executives who led Facebook’s ill-fated efforts in blockchain. Fellow project founder Morgan Beller left the company in September 2020 to go into venture capital. Kevin Weil, another one of the project founders, left in March to join Planet, a San Francisco company.”

Ex-Upwork CEO Stephane Kasriel will replace David Marcus, who in a Facebook post announcing his departure said:

“The one thing I’m the proudest of during my time here is the amazing kickass team we’ve assembled over the last three years. This is the most resilient, passionate, determined and talented group of humans I’ve ever worked with. I find comfort and confidence in knowing that they will continue to execute our important mission well under Stephane Kasriel’s leadership, and I can’t wait to witness this from the outside.”

Mark Zuckerberg responded to David Marcus: 

“I’ve learned so much working with you and I’m so grateful for everything you’ve done for this place. We wouldn’t have taken such a big swing at Diem without your leadership and I’m grateful you’ve made Meta a place where we make those big bets. You’ve built a great team, and while I’ll miss working with you, I’m looking forward to working with Stephane to lead the team going forward.”

https://twitter.com/skasriel/status/1465747314371227650

For his part, Stephane Kasriel said via Twitter:

“I am so honored for the opportunity to lead the awesome Novi team, and look forward to continuing to build products and services that allow more access for people and businesses to the financial system and digital economy.”

FACEBOOK price chart on BMFBOVESPA | Source: TradingView.com

What’s The Deal With Libra/Calibra/Novi/Diem?

After many iterations, Diem is now a stablecoin prototype. For its part Novi, the wallet, is only available in the United States and Guatemala. Facebook/Meta is running a pilot program to test the technology and gather data. They’re trying to steal the remittances market in Guatemala, which constitutes 14% of the county’s GDP. Using the Novi wallet, it’s almost free.

Nowadays, Facebook/Meta is using the Paxos stablecoin USDP as their standard. About this, David Marcus said via Twitter. “USDP is a well-designed stablecoin that’s been operating successfully for over three years and has important regulatory and consumer protection attributes.  I do want to be clear that our support for Diem hasn’t changed and we intend to launch Novi with Diem once it receives regulatory approval and goes live. We care about interoperability and we want to do it right.”

Related Reading | Facebook Officials Claim Novi Received Approval From Major U.S. States

However, will Diem ever receive regulatory approval? For Facebook/Meta, that’s the Trillion-Dollar question. The company’s reputation regarding its handling of personal data is hampering the whole operation. And, well, governments around the world don’t seem to want a company like Facebook in charge of the money. And, well, the project’s been all over the place from the very beginning. No offense to David Marcus, who claims to be Diem’s “Co-creator & Board member.”

The project’s slogan is “To build a trusted and innovative financial network that empowers people and businesses around the world.” And, well, that’s Bitcoin. Why don’t they just plug in to the winning open network? Because Meta wants to be in control of the money supply. And that’s what government’s around the world are trying to prevent.

Featured Image: mohamed_hassan on Pixabay | Charts by TradingView

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Bitcoin Shows Bearish Signs, Risk of Breakdown Below $56K

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Bitcoin failed again to clear the $58,500 resistance against the US Dollar. BTC is declining and it might accelerate lower below the $56,000 support in the near term.

  • Bitcoin is struggling to move above the $58,000 and $58,500 levels.
  • The price is just trading above $57,000 and the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $57,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could accelerate lower if there is a clear break below the $56,000 support zone.

Bitcoin Price is Struggling

Bitcoin price failed to gain pace above the $58,500 resistance zone. BTC is slowly moving lower from the last swing high at $58,890. There was a break below the $58,000 level.

The price traded below the 23.6% Fib retracement level of the upward move from the $53,300 swing low to $58,890 high. Besides, there was a break below a key bullish trend line with support near $57,200 on the hourly chart of the BTC/USD pair.

Bitcoin is now just trading above $57,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $57,500 level. The first major resistance is near the $58,000 level.

Source: BTCUSD on TradingView.com

The main resistance is still near the $58,500 level. A clear break above the $58,500 resistance zone could open the doors for more upsides. The next key resistance is near the $60,000 level, above which the price could rise steadily. The next stop for the bulls may possibly be near the $61,200 level.

Fresh Drop In BTC?

If bitcoin fails to clear the $58,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $57,000 level. The first major support is now forming near the $56,800 level and the 100 hourly SMA.

The next major support is near the $56,000 level. It is near the 50% Fib retracement level of the upward move from the $53,300 swing low to $58,890 high. A downside break below the $56,000 support may perhaps push the price towards $55,500. Any more losses might start a major decline towards $52,000.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently below the 50 level.

Major Support Levels – $57,000, followed by $56,000.

Major Resistance Levels – $58,000, $58,500 and $60,000.

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How Thai Crypto Unicorn Bitkub Plans to Become the Coinbase of Asia

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Thailand startup Bitkub Capital Group Holdings, founded in 2018, hit unicorn status last month notching up a valuation of over $1 billion. Now the crypto exchange intends to expand over Malaysia, the Philippines, and Laos, aiming to become “the Coinbase of Southeast Asia”, said the chief executive officer Jirayut Srupsrisopa.

The Bangkok-based crypto exchange is aiming for huge growth during 2022 as it looks for the possibilities for partnership in Southeast Asia and setting up its own units, Bloomberg reported. Part of the strategy focuses on monopolizing in countries that lack bigger players, which opens the doors to dominate the field.

Our strategy is to expand in countries that have no clear winners yet and are under-banked, with high social media usage and the potential to use cryptocurrency for remittances, … The expansion will be achieved either through new ventures or acquisitions. The goal is to become the Coinbase of Southeast Asia.

The American company Coinbase Global Inc. is a crypto assets marketplace, and its technology provides a way to build crypto-based applications, among other services. It says on the Coinbase website that they roughly have “73 million verified users, 10,000 institutions, and 185,000 ecosystem partners in over 100 countries trust Coinbase to easily and securely invest, spend, save, earn, and use crypto.”

Related Reading | Coinbase Will Invest 10% Of Its Profits In Crypto Going Forward

The Crypto Unicorn Climbs Up

Last month, Bitkub saw a 24-hour turnover after Siam Commercial Bank Plc bought a 51% stake of the startup for 17.85 billion baht (over $528,8 million), which valued Thailand’s largest crypto exchange at 35 billion baht ($1 billion).

This set Bitkub at the 79th spot within 300 international exchanges worldwide ranked by CoinMarketCap. Its native digital coin almost tripled in value following the purchase announcement.

Jirayut Srupsrisopa claimed back then that “Bitkub is no longer just a startup and is now becoming a necessary part of the infrastructure critical for Thailand’s financial industry.” Now, he plans to climb on top of that thought.

Related Reading | Bitcoin Payments Card Are Coming To Asia Pacific, Courtesy Of Mastercard

Although Southeast Asia’s unamicable policies on crypto-assets might represent an obstacle for crypto startups to reach such ambitious goals, Jirayut expects a brighter future in which policymakers and regulators recognize the general embracing of crypto and finally back them, “they can’t avoid it forever” he said.

We have kept on going despite calls from the anti-money laundering agency and the central bank, … Regulations have always followed innovation. The majority of people would have given up because of these regulations. We’re crazy enough to keep going.

Earlier, Bitkub also became one of three Asian platforms to partner with Mastercard to offer crypto credit, debit, and prepaid cards for users and businesses based in the Asia Pacific. This partnership allows users to convert Bitcoin and other cryptocurrencies into fiat money to make purchases, giving them the “choice and flexibility in how they pay”, said Mastercard’s executive vice president Rama Sridhar.

Jirayut also shared Bitkub’s expectation for a 1,350% growth in revenue in 2021, reaching around 5 billion baht ($148 million).

Crypto total market cap at $2,5 trillion in the daily chart | Source: TradingView.com
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