Blockchain
Community-Driven Football Management Simulator Soccer Manager Elite Rebrands As Soccerverse
Freshly Unveiled Brand Adds Gaming Industry Veteran Andrew Gore To The Organization
London, United Kingdom–(Newsfile Corp. – May 31, 2022) – London-based Soccer Manager Elite (SME), a Xaya blockchain-based massive multiplayer online soccer management game, has rebranded itself as Soccerverse, which will be developed under a separate legal entity titled Soccerverse Ltd. Soccerverse has added gaming industry veteran Andrew Gore to the team as part of its latest initiative.
Xaya’s Soccerverse
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Soccerverse is part football management game run in an entirely decentralized format on the blockchain and also a DeFi-oriented game where clubs and players form DAOs and fractionalized NFTs for participating gamers to hold shares. With those shares, gamers can propose and vote for club managers and player agents.
With the new brand and legal entity, the team behind Soccerverse will be developing, guiding, and promoting the game in cooperation with its userbase and is currently focused on completing a fresh browser-based user interface for desktop, mobile, and tablet computers. Scheduled for July, the launch of Beta 4 will see the game move from the Xaya blockchain onto the Polygon blockchain, where it will gain access to a large ecosystem of potential users.
Commenting on the latest changes, Xaya Creative Lead and Soccerverse Co-Founder Andrew Colosimo notes, “What we’ve created with SME is lightyears ahead of what most people think of when it comes to blockchain games. Soccer Manager Elite simply doesn’t reflect what it is, or where we’re planning for it to go. Soccerverse is a much more suitable name.”
Joining this fresh effort is Andrew Gore, an experienced veteran with over 20 years in the industry. Andrew commands over 20 years of industry experience developing video games and football management games, including titles such as FIFA, Need for Speed, Soccer Manager Worlds, the Soccer Manager series, and many others. Moreover, the company plans to engage in further talent acquisition over the coming months.
Per Andrew Gore, “I am excited to be rebuilding a decades-old battle-proven multiplayer manager game onto the blockchain and having the opportunity to do so with the blockchain gaming pioneers at Xaya.” Soccerverse’s Colosimo concludes, “We’re extremely excited to partner with Andy. You really couldn’t find anyone better. He’s the top expert in this field, and we’re fortunate to have him.”
About Xaya
Xaya is a blockchain agnostic platform and SDK for creating fully decentralized, censorship-resistant, permissionless, and serverless video games and decentralized applications (dApps). It is fully open-source and free to use.
About Soccerverse Ltd
Soccerverse Ltd. is dedicated to developing and promoting the Soccerverse blockchain game that was formerly known as Soccer Manager Elite (SME). This massive multiplayer online soccer management game is a community-driven project that leverages decentralized autonomous organizations (DAOs) and decentralized finance (DeFi) to deliver gamers a unique, immersive experience.
Media Contact:
Ryan Smyth
Soccerverse Ltd
76 Wardour Street
London
W1F 0UR
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125743
Blockchain
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
Leading up to Friday’s Bitcoin (BTC) halving, investors opted to remain on the sidelines rather than increase their exposure to cryptocurrencies. CoinShares’ latest report on digital asset fund flows reveals that crypto funds experienced $206 million in outflows last week, while trading volumes for Exchange-Traded Products (ETPs) dropped to $18 billion.
James Butterfill, head of research at CoinShares, noted, “These volumes represent a lower percentage of total Bitcoin volumes (which continue to rise) at 28%, compared to 55% a month ago.” He attributed this decline in investor appetite to expectations that the Federal Reserve would maintain interest rates at elevated levels for a longer duration.
In terms of regional flows, the United States led the outflows with $244 million exiting incumbent ETFs by the week ending April 19. Butterfill highlighted that newly issued ETFs still received inflows, albeit at lower levels compared to previous weeks. Germany and Sweden saw outflows of $8.3 million and $6.7 million, respectively, while Canada experienced inflows of $29.9 million. Switzerland, Brazil, and Australia also witnessed inflows of $7.8 million, $5.5 million, and $2.2 million, respectively.
Butterfill observed that although Bitcoin saw outflows of $192 million, there were minimal flows into short-Bitcoin positions. Ethereum (ETH) experienced outflows of $34 million for the sixth consecutive week. However, multi-asset funds saw improved sentiment, attracting $8.6 million in inflows. Additionally, Litecoin (LTC) and Chainlink (LINK) received inflows of $3.2 million and $1.7 million, respectively.
The report highlighted that blockchain equities sustained their 11th consecutive week of outflows, totaling $9 million, as investors remained concerned about the halving’s impact on mining companies.
In a separate analysis of the post-halving crypto mining industry, CoinShares analysts suggested that many miners might transition to serving the artificial intelligence (AI) sector, which has become more lucrative. They anticipated a shift towards AI in energy-secure locations, potentially leading to Bitcoin mining operations relocating to stranded energy sites.
The analysts projected a 10% decline in the Bitcoin network’s hash rate after the halving as miners deactivate unprofitable ASICs. However, they expected the hash rate to reach 700 exahash (EH/s) by 2025. As of the current data, the Bitcoin hash rate stands at 596.22 EH/s.
The report also noted that substantial cost increases are anticipated due to the halving, with electricity and production costs nearly doubling. Mitigation strategies include optimizing energy costs, enhancing mining efficiency, and securing favorable hardware procurement terms. Miners are actively managing financial liabilities, with some utilizing excess cash to significantly reduce debt.
Source: kitco.com
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Blockchain
NYSE gauges interest in 24/7 stock trading like crypto
According to reports, the New York Stock Exchange (NYSE) is exploring the possibility of introducing round-the-clock trading, a model akin to that of cryptocurrency markets. In a bid to gauge market sentiment, NYSE’s data analytics team has circulated a survey among market participants. The survey seeks feedback on whether there is support for 24/7 or extended weekday trading hours and, if so, what measures should be implemented to safeguard traders against overnight price fluctuations. As of now, NYSE, alongside Nasdaq and the Chicago Board Options Exchange, operates from Monday to Friday, spanning from 9:30 am to 4:00 pm Eastern Time.
In the United States, assets like cryptocurrencies, United States Treasurys, foreign exchange, and major stock index futures are already tradable 24/7. Certain brokerages, such as Robinhood and Interactive Brokers, provide access to U.S. stocks throughout the week via a “dark pool” trading venue, catering to international retail investors during their local trading hours.
However, recent reports indicated that Robinhood suspended its 24-hour trading services amidst heightened tensions between Israel and Iran, prompting concerns among investors regarding the sustainability of continuous trading.
Effectively managing liquidity in a 24/7 trading environment has proven challenging for trading platforms within the cryptocurrency industry.
According to cryptocurrency research firm Kaiko, there’s often a mismatch between the operating hours of traditional financial institutions and the needs of major crypto traders and market makers. Traders frequently find themselves losing sleep during periods of extreme market volatility.
While the results of NYSE’s survey haven’t been revealed, Tom Hearden, a senior trader at Skylands Capital, conducted his own poll among his 19,300 followers, asking if they would support NYSE transitioning to 24/7 trading hours. Interestingly, over 70% of the 1,459 respondents voted “No.”
NYSE’s survey coincides with the efforts of startup firm 24X National Exchange, which is seeking approval from the Securities and Exchange Commission (SEC) to launch the first exchange in the country operating round-the-clock.
The FT said, citing two persons familiar with the subject, that the SEC has “months” to study the proposed rule change, and other relevant issues, such who should shoulder expenses and the function of clearing houses, are already being considered by other stakeholders.
“How loud they will be playing in the middle of the night is unknown to me. However, the decision of whether something is commercially feasible or not actually shouldn’t be made by the SEC, James Angel, a Georgetown University finance professor, told FT.
“I support letting the market make the decision. We’re all better off if it succeeds, and the exchange’s stockholders lose out if it fails.
After the company withdrew an application in March 2023, alleging operational and technological concerns, it is the second attempt to receive SEC clearance.
Source: cointelegraph.com
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