Blockchain
Singapore startup Affyn, a rising star in the Metaverse space, held 2 oversubscribed fundraising rounds, bringing the total amount raised to more than US$7 million
Singapore startup Affyn, a blockchain-powered Metaverse project, is developing a Free-to-Play and Play-to-Earn mobile game with integrated geolocation and augmented reality (AR) capability.
Reimagining Free-to-Play and Play-to-Earn
As a metaverse-based project with geolocation capability and AR mechanics, Affyn incorporates the fun concept where every in-game character, which they call “Buddy”, is a non-fungible token (NFT). If you are not yet familiar with NFT, it just means that the buddy actually belongs to you, and not to the game developers. This disrupts the traditional gaming industry where players grind thousands of hours for in-game items and currencies which they do not really own.
Creating a Closed-loop Economy
Similar to how every game has its own set of currency, Affyn’s currency is also known as FYN tokens. The utility of FYN tokens is aimed to be highly versatile – apart from the usual in-game transactions, it is in progress to adopt real world utility. By creating this integrated ecosystem whereby players can earn the tokens virtually, and being able to utilise them in the real world, a closed-loop economy is formed – driving the value of FYN tokens.
Ensuring a Sustainable Game Economy
Affyn is one of the pioneers of the mobile Play-to-Earn model, created with the intention of changing the way players can derive value from the ecosystem as compared to traditional gaming platforms. The team spent more than a year designing a detailed blueprint to create a sustainable game economy. This helps to ensure rewards remain attractive to existing and new players in the long run.
Lucaz Lee, Founder and Chief Executive Officer, who fronts the fundraising, on why he started this project: “Our idea of a Metaverse is a world where people can meet, play and connect not just virtually, but also in real life. By using blockchain technology as a bridge, Affyn aims to drive a global movement where we can play, earn, and have more fun together at the same time.”
To find out more about Affyn:
- Website: https://www.affyn.com
- Twitter: https://twitter.com/affynofficial
- Telegram channel: https://t.me/affynofficial
SOURCE Affyn
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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