The first wave of aelevate’s grant recipients is spearheading blockchain integration in the genres of fantasy sports and RPG auto battlers.
SINGAPORE, Dec. 11, 2023 /PRNewswire/ — aelf, the high-performance layer 1 blockchain network, announced the first batch of grant recipients for the aelevate gaming program, with the Building Grant, the first grant tranche of the program, distributed to Field of Dreams and Wizarre Stormfights.
“The response to the aelevate program has been overwhelming, indicating a pressing need to bridge the gaps faced by gaming studios looking to enter the Web3 gaming space. At its core, aelevate is designed to empower gaming studios, enabling them to tap into blockchain’s potential and providing them with a new and supplementary revenue model,” said Linda Ang, Head of Strategy at aelf.
She adds, “Both established Web2 gaming studios and newcomers to the gaming industry can leverage the extensive support offered through aelevate. With Field of Dreams and Wizarre Stormfights joining aelf’s aelevate program, we anticipate contributing to their Web3 journey, supporting them as they deepen their impact in the blockchain gaming industry.”
Serving as the gateway for gaming studios to Web3, aelevate provides financial support and technological and business assistance to successful applicants. The first grant tranche, the Building Grant, is dedicated to assisting applicants in building on aelf’s sidechain and integrating diverse dApps on the blockchain, including aelf’s incubated account abstraction wallet and NFT platform for the efficient launch and management of in-game NFTs.
“Our mission at FOD is to supercharge fantasy sports via Web3. We are thrilled to be collaborating with AELF and be part of their inaugural aelevate program. We look forward to being a part of the ecosystem and working with all the partners in bringing a robust fantasy sports experience to fans globally,” shared Rich, Cofounder of Field of Dreams.
Chris Chodakowski, Founder of Wizarre Stormfights, said “We are proud and excited about our partnership with aelf; it marks a bold step towards the future of web3 gaming. By harnessing the potential of a modern chain, we’re addressing scalability issues and unlocking unparalleled efficiency. Choosing aelf over typical chains is not just a choice; it’s a commitment to a dynamic, cutting-edge ecosystem that will propel our games to new heights.”
The games’ comprehensive integration on the aelf blockchain aims to elevate the gaming experience. By building on aelf, the games can ensure enhanced security, foster new revenue models and player-driven economies, and amplify player engagement through the creation and management of unique and verifiable in-game assets.
The first wave of aelevate’s grant recipients includes:
Field of Dreams
Field of Dreams (FOD) is a free-to-play fantasy sports platform with the goal of enabling cross-league and cross-sport interaction and creating a community-driven experience while breaking down the barriers of traditional fantasy sports.
Through aelevate, aelf will support FOD to unlock new possibilities for players in the world of fantasy sports. FOD will introduce its blockchain-native basketball fantasy game fully built on aelf’s sidechain. Notably, the game’s essential power-ups, integral for supercharging team strategising, will be tradable as NFTs on aelf, alongside FOD’s Genesis power-ups collection. Portkey, aelf’s incubated account abstraction wallet, will be the main login service, supporting power-up NFTs and the future $FOD token on aelf.
Wizarre Stormfights is set to redefine RPG auto battlers. With aelf’s support, the game will be developed on aelf’s sidechain, featuring dynamic NFTs for in-game characters and items, allowing players to showcase their upgrades. Portkey, aelf’s incubated account abstraction wallet, will serve as the primary login service, providing a seamless experience for players. Forest, aelf’s primary marketplace, will foster a thriving economy for Wizarre Stormfights, presenting a new revenue model for the team.
aelevate program will announce additional grant recipients soon and is committed to facilitating gaming studios’ seamless transition into the dynamic Web3 space and accelerating the development of blockchain games.
aelf, a high-performance Layer 1 featuring multi-sidechain technology for unlimited scalability. aelf blockchain is designed to power the development of Web3 and support its continuous advancement into the future. Founded in 2017 with its global hub based in Singapore, aelf is one of the pioneers of the mainchain-sidechain architecture concept. Incorporating key foundational components, including AEDPoS, aelf’s variation of a Delegated Proof-of-Stake (DPoS) consensus protocol; parallel processing; peer-to-peer (P2P) network communication; cross-chain bridges, and a dynamic side chain indexing mechanism, aelf delivers a highly efficient, safe, and modular ecosystem with high throughput, scalability, and interoperability.
aelf facilitates the building, integrating, and deploying of smart contracts and decentralised apps (dApps) on its blockchain with its native C# software development kit (SDK) and SDKs in other languages, including Java, JS, Python, and Go. aelf’s ecosystem also houses a range of dApps to support a flourishing blockchain network. aelf is committed to fostering innovation within its ecosystem and remains dedicated to driving the development of Web3 and the adoption of blockchain technology.
China Targets Crypto Crimes in Metaverse & Blockchain
The Supreme People’s Procuratorate (SPP) of China is targeting cybercriminals using blockchain and metaverse platforms for illegal activities amid rising online fraud and personal data infringement.
Deputy prosecutor-general Ge Xiaoyan reported a 64% year-on-year increase in cybercrime-related telecom fraud charges. While blockchain crimes are rising, traditional offenses like gambling and counterfeiting have also expanded into cyberspace. Charges for internet theft rose 23% while online counterfeiting surged 86%.
Between January and November, prosecutors pressed charges against 280,000 individuals in cybercrime cases, up 36% versus last year and constituting 19% of all criminal offenses.
Zhang Xiaojin, director of the SPP’s Fourth Procuratorate, warned citizens about investment scams in crypto, noting the rise of crimes using metaverse, blockchain, and binary options platforms. He said digital currencies have become hotspots for illicit activities.
China’s crackdown on crypto crimes differs from Hong Kong’s crypto-friendly regulations that aim to protect investors without stifling innovation. The People’s Bank of China stressed the need for coordinated global crypto regulation in its latest report.
In 2021, China officially banned crypto transactions and mining but remains a major mining hub despite the crackdown. The SPP aims to strengthen inter-departmental coordination in curtailing crypto adoption and cybercrimes involving digital assets.
Source: Crypto Times
The post China Targets Crypto Crimes in Metaverse & Blockchain appeared first on HIPTHER Alerts.
Crypto Headlines of the Week: ECB Slams Bitcoin, Nigeria Blocks Exchanges
The European Central Bank (ECB) has once again lashed out at Bitcoin, claiming that the recent approval of spot BTC ETFs changes nothing.
The central bank’s officials said Bitcoin’s fair value is zero, and the latest boom will spark massive collateral damage.
They claimed Bitcoin falls short in generating cash flow or other value-based returns, making it a poor investment.
While the ECB’s skepticism towards Bitcoin is not new, Nigeria is also growing skeptical of digital assets and crypto exchanges.
In an effort to crack down on currency speculation while the naira tumbles to record lows, Nigeria has ordered telecom companies to restrict consumer access to the websites of companies like Binance, Coinbase, and Kraken.
Here are this week’s important crypto stories:
ECB Slams Bitcoin Again
The European Central Bank (ECB) has reiterated its position on Bitcoin, stating that the approval of spot ETFs for the cryptocurrency does not change its unsuitability as a means of payment or investment.
“We disagree with both claims and reiterate that the fair value of Bitcoin is still zero,” the central bank wrote.
ETF approval for Bitcoin – the naked emperor’s new clothes (ECB Blog)
Kraken Files to Dismiss SEC Lawsuit
Crypto exchange Kraken has filed a motion to dismiss a November lawsuit from the Securities and Exchange Commission that accuses the firm of failing to register with the agency and commingling customer funds. The exchange contended that the SEC’s enforcement action came as retaliation for political speech.
Kraken moves to dismiss SEC lawsuit, citing retaliation from ‘a politically compromised agency’ (Fortune)
Nigeria Blocks Major Crypto Exchanges
Authorities in Nigeria have blocked access to some of the world’s largest cryptocurrency exchanges as the government tries to crack down on currency speculation while the naira tumbles to record lows.
On Wednesday, the country’s telecom regulator ordered telecom companies to restrict consumer access to the websites of companies like Binance, Coinbase, and Kraken.
Nigeria blocks access to crypto exchanges in an effort to curb currency slide (The Financial Times)
FTX Cleared to Sell Stake in AI Startup
A US judge has ruled that bankrupt crypto exchange FTX may sell its shares in artificial intelligence startup Anthropic.
US Bankruptcy Judge John Dorsey in Wilmington, Delaware, approved FTX’s proposal to sell the shares after FTX reached a compromise in court with a group of FTX customers that had opposed the sale.
Crypto exchange FTX to sell shares in AI startup Anthropic (Reuters)
Jack Dorsey’s Block Gains Big From Bitcoin Bet
Fintech company Block has reported a remeasurement gain of $207 million on its Bitcoin holdings. As of December 31, 2023, Block held approximately 8,038 BTC for investment purposes with a fair value of $340 million.
The Jack Dorsey-owned company made $66 million in gross profit on bitcoin sales last quarter through Cash App, a banking services platform, representing a 90% increase year over year.
Jack Dorsey’s Block Is Sitting on $207M Gain on Its Bitcoin Bet (CoinDesk)
Reddit Now Holds Bitcoin
Social media platform Reddit has revealed investments in Bitcoin and Ethereum using some of its excess cash reserves. This was included in the SEC filings as part of its preparations for the company’s initial public offering (IPO).
Still, the exact amount invested in these leading cryptocurrencies remains undisclosed.
Reddit says it invested ‘excess cash reserves’ in Bitcoin, ether (Blockworks)
Crypto Super PAC Continues to Raise Funds
Crypto-friendly super PAC Fairshake received $6.8 million in funding last month, including $4.9 million from Gemini co-founders Cameron and Tyler Winklevoss. Fairshake has quickly become one of the most popular super PACs for crypto-friendly donors this election cycle.
Crypto Super PAC Fairshake Raised $6.8 Million From Winklevoss Twins and VCs in January (Decrypt)
Major ETF Issuers Talk About Crypto in Miami Conference
The discussion on the spot Bitcoin ETFs was the most well-attended panel of the entire Exchange ETF Conference in Miami Beach, Florida, so much so that the staff ran out of the headphones attendees were provided with to listen to the speakers.
Crypto no longer outsider at famed Miami Beach ETF conference (Fox Business)
Retail Investors Were Behind Recent Crypto Rally
Retail investors were likely responsible for the strong crypto market rally in February, JPMorgan said in a recent research report.
The bank said that the anticipation of “the bitcoin halving event, the next major upgrade of the Ethereum network, and the prospect of approval of spot ether ETFs by the SEC in May” attracted retail participation.
JPMorgan Sees Retail Traders Jump Back Into Crypto Markets in February (Bloomberg)
South Korean Province Collects $4.6M in Crypto Tax
South Korea’s most populated province, Gyeonggi, has collected $4.6 million from crypto tax evaders. Using a new system, the province found 5,910 people who owed more than $2262 each. The $4.6 million collected so far has been from only 2,390 people last year.
South Korean province implements digital system to track tax evaders’ crypto (Cointelegraph)
The Bottom Line
The ECB has reiterated its critical stance on Bitcoin, despite the recent approval of spot Bitcoin ETFs, maintaining that Bitcoin’s intrinsic value remains at zero. Meanwhile, Nigeria is taking steps to limit cryptocurrency engagement amid concerns over financial stability.
The post Crypto Headlines of the Week: ECB Slams Bitcoin, Nigeria Blocks Exchanges appeared first on HIPTHER Alerts.
Bolstering Native Food Markets Through Blockchain
The Allan Labor Government is helping to bolster the native foods industry by supporting Traditional Owners with new options to track and sell native foods through blockchain.
Around 70 native foods business practitioners attended the inaugural First Nations Native Food Blockchain Workshop at Healesville last week.
The workshop was delivered by the RMIT Blockchain Innovation Hub in partnership with Agriculture Victoria and the Federation of Victorian Traditional Owners Corporation (FVTOC).
Over two days, the workshop explored the potential for blockchain technology to support positive outcomes for Victorian Aboriginal native food businesses. The workshop also focused on ways in which blockchain can support and uphold Indigenous Cultural Intellectual Property rights for Victorian Traditional Owners.
Blockchain technology offers new abilities for data management and governance by enabling decentralised and tamper-resistant storage. It enables new and unique ways to further enable Aboriginal self-determination and data sovereignty for First Nations people within the native foods and botanicals industry.
The technology also offers a secure and transparent system for tracking product authenticity, with the ability to store and manage traditional knowledge and stories.
This workshop aligns with the objectives of the Traditional Owner Native Food and Botanicals Strategy, developed by the FVTOC and the Victorian Government in 2021, which laid out a plan to create a strong, authentic and sustainable bushfood sector.
Quote attributable to Minister for Agriculture Ros Spence
“This workshop provides more ways to help ensure Victorian Aboriginal native food businesses are equipped with the skills and technology they need to thrive.”
Quote attributable to Minister for Treaty and First Peoples Natalie Hutchins
“This is a great example of Aboriginal businesses coming together to drive a strong and sustainable native food industry and promote economic development.”
Quotes attributable to Gunditjmara Elder Professor Richard J Franklin
‘Blockchain unveils promising pathways for Aboriginal data sovereignty and community empowerment, crucial for uplifting our communities and ensuring improved outcomes.” “I am enthusiastic about the possibilities that blockchain holds, particularly within the native food and botanicals industry. Technology must be one of the many spearpoints we use in charting toward a tomorrow Australia.”
- China Targets Crypto Crimes in Metaverse & Blockchain
- Crypto Headlines of the Week: ECB Slams Bitcoin, Nigeria Blocks Exchanges
- Bolstering Native Food Markets Through Blockchain
- Forex, CFD firm OANDA launches crypto trading in UK
- Flash News: OKX Hosts ‘Manta Trading Campaign’ Featuring USD20,000 Manta Token Prize Pool
- Flash News: OKX DEX Aggregator Now Supports Metis, a Layer 2 Scaling Solution for Ethereum
- AEVOLVE Labs: aelf’s New Incubator Spearheading Web3 Innovation
- Bybit Celebrates 2 Years of Peer-to-Peer Trading with Special Giveaway
- Bybit’s P2P Platform Sets New Standards for Crypto/Fiat Swaps and Zero Fees
- Flash News: Native Integrates OKX Wallet for Seamless Access
- Gamifying the Online Casino Experience with NFTs
- Paris Saint-Germain begins Web3 drive as a new blockchain validator for Chiliz Chain
- Luxury brand blockchain platform Arianee aims to scale, launches L2 on Polygon
- Vitalik Buterin Floats Idea of AI-Based Code Audits, Ethereum Project Developers Back Him Up
- Chiliz (CHZ) Chain Announces Tokenomics 2.0 with Inflation Model and Burn Mechanism
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