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LDA Capital Commits $25 Million for Buildout of the Aftermath Islands Metaverse

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Lda Capital Commits $25 Million For Buildout Of The Aftermath Islands Metaverse

The funds will be used for onboarding users and scaling Aftermath Islands’ numerous Metaverse initiatives

Aftermath Islands Metaverse Limited, the development company behind the highly ambitious Aftermath Islands Metaverse project, has secured a $25 million commitment from LDA Capital Limited, a global alternative investment group.

The company said that the funds will be used for a wide range of project-related campaigns and programs, from user onboarding and the development of play-to-earn opportunities to the adoption of the Aftermath Islands Metaverse and the support of Aftermath Islands’ unique NFTs, digital identity solutions, cross-chain compatibility initiatives, play to earn programs, and other cutting-edge decentralized applications at the intersection of user identification, gaming, entertainment, finance, virtualization, collaboration, and blended reality in the Metaverse and the real world, the company said in a statement.

“LDA Capitals’s commitment will support the long-term growth of the Aftermath Islands Metaverse. Aftermath Islands’ Metaverse demonstrates how digital identity can support safety, privacy, and security in both online and offline settings, and our high-resolution graphics and pixel streaming provide users with a fast, no-download, photo-realistic gaming experience on any device, raising the bar and expanding opportunities for what is possible both in the Metaverse and in the real world,” said David Lucatch, Managing Director of Aftermath Islands in a press release.

“Aftermath Islands’ virtual worlds and games have the power to transform how players interact and transact with in-game collectible NFTs, and LDA Capital is proud and excited to partner with the project team in this movement. Aftermath Islands is a recognized leader in digital identity verification in the online space, which empowers users and developers to build and benefit from a whole new world of in-game and real-world interactions. Ultimately, Aftermath Islands is transforming science-fiction into history, and we are proud to be co-authors of this story,” said Warren Baker, Managing Partner, LDA Capital.

LDA Capital is an investment group focused on investing in the global private and public markets. The firm provides capital solutions to companies seeking financing in underserved markets and complex conditions on a global basis. The team has executed over $10 billion in transactions across over 40 countries over the last decade and is one of Aftermath Islands’ high-profile partners and collaborators.

Metaverse opportunities were valued at approximately $27 billion in 2020, Aftermath Islands Metaverse Limited reported. With a projected CAGR of about 40% over the next decade, the Metaverse is expected to eclipse $820 billion in market value by 2030.

LDA Capital’s $25 Million commitment will provide access to non-equity funds via the purchase of Aftermath Islands Utility Tokens, contingent on the successful completion of predetermined project milestones. The Aftermath Islands project team aims to achieve those milestones toward the end of 2022. With the commitment, LDA Capital has an option to purchase an equity stake in Aftermath Islands Metaverse Limited.

Earlier this week Aftermath Islands released a demo video that offers a sneak peak at the project. Aftermath Islands positions itself as a “shared virtual open world, much like the Metaverse described by author Ernest Cline in his science-fiction novels Ready Player One and Ready Player Two.” It will allow users to interact with each other, create content and play games, among other things. The Metaverse will feature an in-game virtual economy with “a myriad of in-world economic transactions” and the ability to monetize content, quests, and applications.

 

 

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TA- Bitcoin Bounced off Key Support After CPI Announcement

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Ta- Bitcoin Bounced Off Key Support After Cpi Announcement

The price of Bitcoin (BTC) bounced off its key support against Dollars (USD) after the Consumer Price Index (CPI) announcement in the United States. The metric is used to measure inflation in U.S. dollar and hints at a potential slowdown. 

Bitcoin price saw a pullback from $24,200 to $22,800 despite showing signs of relief rally but was faced with resistance to breakout ahead of CPI news sentiments. (Data feeds from Bitstamp)

Price Analysis Of BTC On The Weekly Chart

Weekly Price Analysis For BTC | Source: BTCUSD On Tradingview.com

From the chart, the price of BTC saw a weekly low of around $19,100, which bounced from that area and rallied to a price of $24,300.

The price has built more momentum as it faces resistance at $24,300.

If the price of BTC on the weekly chart continues with this bullish structure, it could quickly revisit  $28,000.

Weekly resistance for the price of BTC – $28,000.

Weekly support for the price of BTC – $19,100.

Price Analysis Of BTC On The Daily (1D) Chart

1660151841 140 Ta Bitcoin Bounced Off Key Support After Cpi Announcement
Daily Price Analysis For BTC | Source: BTCUSD On Tradingview.com

The price of BTC found strong support at around $20,600, with what seems to be an area of interest on the daily chart.

BTC bounced from its support, forming a rising wedge as it faces resistance to break above $24,200.

At the point of writing, the price of BTC is at $23,980, trying to break the resistance of $24,000 that corresponds to the 50 exponential moving averages (EMA). 

If the price of BTC fails to break above the 50 EMA region, and at the same time breaks below the ascending wedge,  $20,600  would be a good support to hold sell-offs and a possible price bounce.

With more buy bids, and the positive CPI announcement we could see the price of BTC breaking out above $24,300, and BTC price will trend higher.

The RSI for the price of BTC on the daily chart is above 50, indicating healthy buy bids for BTC.

The volume for BTC indicates low buy bids, this shows bulls would want to know the outcome of the CPI meeting.

Daily (1D) resistance for BTC price – $24,300.

Daily (1D) support for BTC price – $22,800, $20,600.

 

Price Analysis OF BTC On The Four-Hourly (4H) Chart

1660151842 984 Ta Bitcoin Bounced Off Key Support After Cpi Announcement
Four-Hourly Price Analysis For BTC | Source: BTCUSD On Tradingview.com

The price of BTC has shown a range in an ascending wedge on the 4H chart, as the price faces rejection at $24,000.

BTC’s price is $23,990, trading above the 50 but above the 200 EMA with prices of $23,200 and $22,700 on the 4H chart. These prices would be a support area for BTC on the 4H chart.

Four-Hourly (4H) resistance for BTC price – $24,300.

Four-Hourly (4H) support for BTC price – $23,200, $22,700.

 

With the positive CPI, the price of BTC would trend higher.

 

Featured image from NewsBTC, Charts from TradingView.com 
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Recovery Market Sentiment Sees Investors Take More Risk With Altcoins

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Altcoins

Crypto investors had been moving out of altcoins through the market downtrend due to the high volatility that rocked these digital assets. As a result, the fall in these altcoins was more brutal than that recorded in bitcoin. However, as the tide has begun to turn and the market is looking towards more of a bullish trend, these altcoins have taken their place at the top of the recovering chain, prompting investors to rush back into them.

Altcoins Provide More Gains

Over time, it has been shown that altcoins record the widest movements during any type of market. So just as they have a high propensity to bring large losses, they also carry the same trait when it comes time to make a profit. The same is the case this time around,Al as investors have clamored to altcoins to take advantage of the gains.

Barely two weeks into the month of August, altcoins have quickly taken the lead when it comes to gains. The Small Cap Index, which had suffered massively during the downtrend, is finally having its day in the sun. It saw the largest gains in the last 10 days, coming out at 9% for this period of time.

The Mid Cap Index follows the Small Cap Index in this regard. Although it did not see as many gains as its smaller counterpart, it saw 7% gains for the time period. It also spread to the Large Cap Index, which saw 5% gains in the same time period.

Small Cap Index sees largest gains | Source: Arcane Research

These gains show that investors are beginning to recover their faith in the market once more. Exposure to altcoins is growing rapidly, leading to a surge in prices across these indexes.

Bitcoin Follows Positive Trend

Altcoins were not the only ones that saw positive growth in the first week of August. The positive sentiment through the market has been widespread and has affected various digital assets, albeit to different degrees.

Bitcoin has seen lesser gains compared to its altcoin competitors, but it saw gains nonetheless. It came out as the index with the lowest returns so far, with only 2%. Despite this growth, the digital asset is still severely underperforming compared to altcoins. It is notable in the market dominance of the digital asset, which has fallen about 7% in the last two months alone.

Total Market Cap Chart From Tradingview.com

Market cap rests above $1.1 trillion | Source: Crypto Total Market Cap on TradingView.com

What this shows is that investors are now moving out from the safe haven that bitcoin provided during the market crash and are now focusing on altcoins. This has also spread to stablecoins that have also seen their market dominance eaten into by altcoins.

In the last week alone, ETH dominance grew 0.89%, while Bitcoin and the leading stablecoins all lost between 0.12% to 0.96% dominance. This new hunger for risk can either be primarily rewarded, or investors may find themselves burned if the market were to retrace.

Featured image from Binance, charts from Arcane Research and TradingView.com

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SOURCE Looks to Supercharge Cross-Chain dApps & Smart Contracts with Airdrop, Mainnet Launch

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Source Looks To Supercharge Cross-Chain Dapps &Amp; Smart Contracts With Airdrop, Mainnet Launch

With an intelligently-designed airdrop, a focus on enterprise development and partnerships, and cross-chain functionality, the $SOURCE Blockchain is poised to quickly rise amongst the industry’s biggest and best.

On Thursday, August 4th, Source Protocol Ltd announced the test net launch of the next standout blockchain to hit the crypto market and the Cosmos ecosystem. Built as a highly efficient, scalable and permission-less blockchain network for interoperable dApp development, $SOURCE is bringing a Binance Smart Chain-based DeFi ecosystem and strategic enterprise partnership development to the Interchain. $SOURCE will be publicly-available for enterprises, developers and individuals to create and use scalable dApps, smart contracts and tools for Web 3.0, DeFi, NFTs, P2E, privacy networks, DeSci, and more.

Read more on Source Protocol’s advanced blockchain ecosystem: A Web 3.0 Tech Suite for Individuals, Developers and Enterprises

According to the team’s CEO, innovative plans have been set in motion to introduce new market share to the blockchain industry at large, with $SOURCE and Source DeFi Suite’s focus on bridging the gap between existing Web 2.0 solutions and Web 3.0. These plans already involve building infrastructure for mortgage data servicing companies, a top tier metaverse, white-labeled DeFi banking services, among others. The $SOURCE team is also currently working with partners to establish a strong presence in many regions including the United States, Dubai, Central Europe,  South America, and Japan. The $SOURCE testnet is already onboarding dozens of validators in preparation of the chain’s airdrop and mainnet launch later this year.

A New Approach to Airdrops is Needed

A blockchain’s airdrop plays a critical role in establishing a strong foundation for the chain at the date of genesis. A successful airdrop bootstraps a blockchain’s decentralization to a large group of engaged users while simultaneously inviting them to contribute and participate in the new community network.

All Cosmos Hub blockchains have different strategies on how they approach their genesis distribution airdrop. There is controversy in how airdrops are done as $ATOM “whales” typically continue to receive the majority of each new project’s tokens, and users continually find ways to skirt the rules or “game” the airdrop. This limits distribution and decentralization at genesis. For example, if there is a whale-cap (which limits the amount of coins that can be distributed to any individual wallet address in an airdrop), people can spread their $ATOM to multiple addresses, and therefore avoid the impact of any whale cap. They can later consolidate all of their tokens and have a significant advantage over other delegators. This allows them to diminish the project’s value by continuously liquidating their staking rewards. The $SOURCE team is familiar with these greedy and malicious practices, and has designed a unique airdrop model that will be the most rewarding for the already existing and active #SourceForce community.

$SOURCE-Drop

The $SOURCE-Drop airdrop has been carefully designed to provide maximum benefit to Source Protocol community members that already hold both Source Token $SRCX (Source Protocol’s Automated DeFi market rewards token, BEP-20) and Cosmos Hub $ATOM. SRCX should be held in decentralized wallet like Metamask, Trust or Binance Smart Chain wallet, and ATOM should be held in the Keplr wallet. Registering both your ATOM and SRCX wallet addresses in the Source Web 3.0 app via wallet connect will be required in order to participate.

The $SOURCE-Drop will be whale-capped and will not be game-able. The amount of $SOURCE claimable will be determined by the combined average wallet weight of a holder’s ATOM and SRCX balances. Wallet weight is determined by the proportion of a user’s wallet holdings to circulating supply. If no SRCX is held, a zero will be registered in the calculation and this will significantly reduce the quantity of $SOURCE received for ATOM holders that do not hold SRCX. This creates a scenario where even the largest ATOM whales will receive significantly less $SOURCE than a participant that also holds SRCX. Likewise, SRCX holders that do not register an ATOM address on the claiming app will not be able to receive the $SOURCE-Drop as a Cosmos Hub $ATOM address is needed (via Keplr wallet) to generate the new $SOURCE blockchain public address.

***ATOM and SRCX held on centralized exchanges will not be eligible for the SOURCE-Drop.

Multiple snapshots of SRCX and ATOM will be used to calculate the amounts claimable. No snapshot dates will be announced to avoid any gamification. This rewards the true believers and community members of both ATOM and SRCX that are holding long term. This strategy is designed to enable a truly decentralized Web 3.0 ecosystem, rewards those who are loyal to the vision of Cosmos Hub’s “internet of blockchains” and #SourceForce communities, and to create a greater appreciation for recipients of the $SOURCE-Drop.

Bonus Eligibility

Contributors and participants to the $SOURCE testnet will also be eligible to receive bonus $SOURCE from active participation such as creating a wallet, setting up a validator node on $SOURCE testnet, launching a smart contract, etc. Additional contributions and active participation by community members will also be rewarded. For more information about the $SOURCE blockchain, click here.

To prepare for the SOURCE-Drop, be sure to install the Keplr wallet and use it to store your ATOM. Source Token (SRCX) can be purchased on PancakeSwap and stored in Trust Wallet, Metamask, or Binance Smart Chain Wallet. Visit the Source Protocol website here to follow the tutorial if needed

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Crypto Market Reacts Positively Amid Reduced U.S Inflation Rate

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Crypto Market Reacts Positively Amid Reduced U.s Inflation Rate
  • Compared to June, the annual rate of inflation reduced marginally to 8.5%.
  • Bitcoin is trading at $24,003 with a 4% increase in the last 24 hours.

After a long period of stagnation, U.S inflation has fallen for the first time since April. Compared to June, the annual rate of inflation reduced marginally to 8.5%, according to the most recent statistics release. The July CPI was projected to be 8.7%.

Well, it’s possible that a decline in inflation may be a beneficial thing since it would help dilute the Fed’s aggressive position and lead to lower interest rates. The main indexes, which had ended Tuesday’s session in the negative, responded favorably to this new information. The Dow Jones Industrial Average’s futures soared by 400 points, or 1.2%, on Monday morning. S&P 500 futures rose by 1.7%, while Nasdaq 100 futures rose by 2.4% in tandem.

Market Gains Momentum

In reality, the crypto market, which had been in the red for the previous several hours, has now turned green. Recently, though, the link between Bitcoin and the larger market has declined. This suggests that the markets have not always moved in lockstep with one another.

The tables may turn in the future, and we may see a collective infusion of liquidity, just as we have seen shock spread from one sector to another thus far. However, this may not happen right away since the crypto market has been ready for a drop for some time.  Since Ethereum and other cryptocurrencies are gaining ground, Bitcoin is following suit. Bitcoin is trading at $24,003 with a 4% increase in the last 24 hours as per CMC.

In addition, exchange inflows have been increasing during the previous several days. Merely 10.8k BTC were sent to exchanges on August 7th, according to statistics from CryptoQuant. The 36.7k BTC figure on Tuesday, on the other hand, reveals a shift in mood.

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MANA Bulls May Outsmart The Bears If They Stick To These Support Lines

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Mana

Decentraland (MANA) may appear bullish as seen in the past couple of days due to buyers keeping the prices up hovering above 200 DMA as observed on the hourly chart. Regardless, the token still trades the sideways horizontal range with $0.75 for support and $1.0 resistance.

With the escalation seen on the hourly chart, trading volume has also spiked by 290% in the past couple of hours. Buyers saw a decline in MANA in triggered by the sell-off as it saw a decline to a 90-day low of $0.772 last May of 2022.

Despite the aggregation seen on the sideways range in the past few days, speculators saw the formation of a rounding bottom pattern on the daily price chart. With that said, buying of the token has intensified which prompted the price action to form higher-highs.

MANA Price Currently Trades at $1.02; Drops by 2.36%

According to CoinMarketCap, MANA price is currently trading at $1.02 or a dip of 2.36%. Despite it being bullish, the market capitalization stays neutral at around $2 billion as seen in the past 24 hours. With the rise of MANA, speculators also saw a boost in trading volume by 290% in the past 24 hours but still the MANA/BTC pair has dipped by 1.4%.

The price of MANA may rally as buyers keep the momentum and price up or above 200 DMA as presented on the hourly charts. On the daily charts, the 20-day EMA remains to be pumping zone for many buyers because the bears can’t intervene as long as they stick to the support lines.

MANA Overbought, Needs to Attract New Buyers

RSI also continue to hover and breached bullish hurdle above the semi-line, moving towards the overbought zone. More so, the MACD indicator also pinpoints to an uptrend seen on a daily time frame. MANA is moving towards the resistance zone. So, even if the coin is regarded as extremely bullish, there is always the potential of the coin to rally above the resistance line of $1.5.

After a bitter-sweet taste of uncertainty, the coin is now soaring high with some interference coming from the bears. Apparently, Bitcoin’s price spike is a huge boost to MANA’s uptrend movement as the king of crypto, which now trades above the 23k mark, supports and pushes the token.

The rate of recovery shown by MANA may not be enough to boost investor confidence and the token may need to attract more new buyers to ensure full and continuous recovery.

MANA total market cap at $1.9 billion on the daily chart | Source: TradingView.com
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#WeAreUkraine NFT Collection Launched For Ukraine

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#Weareukraine Nft Collection Launched For Ukraine

Miami, USA (August 10, 2022) – The newly formed DIG Foundation’s first philanthropic venture is #WeAreUkraine, an exclusive NFT collection to benefit Ukraine, launched in partnership with leading international charities Save the Children and Women for Women International. 

Established by Dubai’s Decentralised Investment Group (DIG), a multinational blockchain technology conglomerate making impactful changes through blockchain technology, the DIG Foundation is a charitable non-profit empowering women and young girls by providing them with cutting edge STEM education, so they may thrive in a growing digital economy.

For its first charitable venture, DIG Foundation has partnered with Ukrainian celebrity and champion of change Jamala, to create the exclusive NFT collection #WeAreUkraine. A singer and songwriter who rose to international stardom following her win of the 2016 Eurovision contest, Jamala will assume the role of campaign ambassador.

This charitable generative NFT collection of 14,850 NFTs – unique digital collectibles – will be available for purchase starting Wednesday, August 10 for 6 months, viewable on OpenSea. The collection features artist renditions of the most famous monuments and landmarks from Ukrainian cities. Three additional NFTs – video recordings of Jamala singing three Ukranian folk songs – will later be airdropped to random NFT holders, as a reward.

Seventy per cent of all proceeds raised will be equally distributed between two international charities partnering with the DIG Foundation: Save the Children and Women for Women International, with the remaining 30 per cent allocated for operating costs.

Full-scale war was launched on Ukraine on February 24, 2022, and since the invasion, over 7.1 million people have been internally displaced, according to the International Organisation for Migration. UNHCR reports that more than 5.9 million refugees have fled the country, mostly women and children. Destruction of infrastructure has been widespread, with several Ukrainian landmarks damaged, including the Kyiv TV Tower, Karazin Kharkiv National University and Antonov International Airport.

Haydn Snape, DIG’s CEO and Managing Global Partner, has been eager to get DIG Foundation off the ground and involved in charitable products that can make a lasting impact. “Blockchain technology can be used to make a difference, and to help those in need,” says Snape. “DIG invests in products and projects that instil the values of decentralisation, financial independence and individual liberty, and our Foundation will use these ideals to empower women and children to become the next generation of innovative Web3 leaders.”

Proceeds from the sale of the #WeAreUkraine NFT collection will help Save the Children continue working alongside local partners distributing food, water, hygiene items, psychosocial support and cash assistance to children and their families in dire need in Ukraine and the surrounding region. Save the Children is also establishing safe spaces for children where possible.

Ettore Rossetti, Head of Digital, Marketing, Innovation Partnerships & Web3 at Save the Children, says Save the Children have been supporting children and families in Ukraine since 2014 – almost as long as the organisation has accepted cryptocurrency donations. The global humanitarian organisation was the world’s first INGO to accept a bitcoin donation in 2013, in response to Typhoon Haiyan that devastated the Philippines. 

“Crypto donations are strengthening Save the Children’s work supporting children and their families impacted by the Ukraine crisis, and have enabled truly borderless giving. This is not only decentralising finance, but philanthropy as well,” said Rossetti. “Millions of children risk displacement, family separation, trauma and interruption of their education. By donating crypto to Save the Children, you hold on for dear life – or  ‘HODL’ – and hold hope for kids. Crypto donations and proceeds from NFT projects have become alternative funding streams for global emergencies we respond to like the conflict in Ukraine.” 

Sara Bowcutt, Managing Director at Women for Women International – UK, commented on this new partnership, saying: “Women often bear the brunt of war and conflict, and DIG Foundation’s donation will help us address their urgent needs. Through our Conflict Response Fund, we are providing critical psychological support, legal counsel and training so that women can better support themselves and their families – whether they are displaced in Ukraine or taking refuge in Poland, and helping women survivors who have faced unimaginable loss and trauma to rebuild their lives and find a way to move forward.”

Jamala, who received an award by the Atlantic Council for “Distinguished Artistic Leadership” this year, says she will do everything she can to raise awareness about her country’s hardship and her people’s plight. “I am proud to support this campaign and to raise awareness about it and my homeland. I will do everything in my power to spread the word about this unprovoked war that has claimed the lives of tens of thousands of Ukrainians already.”

The campaign is also being backed by Miss Ukraine Universe Bogdana Nazarova – a model and TV host who currently holds the Miss Miami US Nation title. 

Visit – https://weareukrainenft.org/. 

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

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