Earning an income from play-to-earns is “complicated” without tax guidance, advises Australian crypto tax specialists.
Modern parents are going to need to keep an even closer eye on their kids’ gaming habits, as some of them may be accumulating a hefty tax bill, according to a crypto tax specialist.
Speaking to Cointelegraph during last week’s Australian Crypto Convention, Adam Saville-Brown, regional head of tax software firm Koinly said that many don’t realize that earnings from play-to-earn (P2E) games can be subject to tax consequences in the same way as crypto trading and investing.
This is particularly true for play-to-earn blockchain games that offer in-game tokens that can be traded on exchanges and thus have real-world financial value.
Saville-Brown said he was approached during the convention by a father of a nine-year-old son, concerned that his boy was “making bank” from P2E games.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn
Modern parents are going to need to keep an even closer eye on their kids’ gaming habits, as some of them may be accumulating a hefty tax bill, according to a crypto tax specialist.
Speaking to Cointelegraph during last week’s Australian Crypto Convention, Adam Saville-Brown, regional head of tax software firm Koinly said that many don’t realize that earnings from play-to-earn (P2E) games can be subject to tax consequences in the same way as crypto trading and investing.
This is particularly true for play-to-earn blockchain games that offer in-game tokens that can be traded on exchanges and thus have real-world financial value.
Saville-Brown said he was approached during the convention by a father of a nine-year-old son, concerned that his boy was “making bank” from P2E games.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn
The marketplace intends to prioritize storytelling by allowing NFT creators to design customizable drop pages, share images, videos and more.
OpenSea, the digital marketplace for crypto collectibles and non-fungible tokens (NFTs), has launched a new initiative to make it easier for creators to create and distribute NFTs on its marketplace.
As part of this new immersive initiative, creators will be able to launch their NFT collections on their own customizable and dedicated drop pages, which the company hopes will allow for greater visibility and discoverability on the marketplace’s new homepage. Under the customizable drop pages, creators will now have the ability to share images and videos, provide team highlights, outline roadmaps, and more.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #opensea
OpenSea, the digital marketplace for crypto collectibles and non-fungible tokens (NFTs), has launched a new initiative to make it easier for creators to create and distribute NFTs on its marketplace.
As part of this new immersive initiative, creators will be able to launch their NFT collections on their own customizable and dedicated drop pages, which the company hopes will allow for greater visibility and discoverability on the marketplace’s new homepage. Under the customizable drop pages, creators will now have the ability to share images and videos, provide team highlights, outline roadmaps, and more.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #opensea
With the countdown now under 24 hours for Cardano’s most ambitious upgrade, all three metrics necessary to launch the awaited Vasil upgrade have been met.
The Cardano Vasil upgrade is set to take place in less than 24 hours on Sept. 22, with the Cardano team noting all three “critical mass indicators” needed to trigger the upgrade are now met.
A Sept. 21 update on Twitter by the company behind Cardano, Input Output Hong Kong (IOHK) states within the last 48 hours 13 cryptocurrency exchanges had confirmed their readiness for the hard fork, representing over 87% of Cardano’s (ADA) liquidity.
Of the top exchanges for ADA liquidity, Coinbase is the only exchange listed as “in progress” regarding its integration status, according to an ecosystem readiness page by IOHK.
However, a recent tweet by Coinbase has already hinted it will support the fork, saying ADA transactions will be halted for maintenance “for the Cardano Vasil hard fork.”
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #cardano
The Cardano Vasil upgrade is set to take place in less than 24 hours on Sept. 22, with the Cardano team noting all three “critical mass indicators” needed to trigger the upgrade are now met.
A Sept. 21 update on Twitter by the company behind Cardano, Input Output Hong Kong (IOHK) states within the last 48 hours 13 cryptocurrency exchanges had confirmed their readiness for the hard fork, representing over 87% of Cardano’s (ADA) liquidity.
Of the top exchanges for ADA liquidity, Coinbase is the only exchange listed as “in progress” regarding its integration status, according to an ecosystem readiness page by IOHK.
However, a recent tweet by Coinbase has already hinted it will support the fork, saying ADA transactions will be halted for maintenance “for the Cardano Vasil hard fork.”
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #cardano
Last year, the Akutars NFT collection sold out 15,000 tokens, but a major big saw $33 million worth of Ether (ETH) generated from sales locked into an inaccessible smart contract.
Jimmy McNelis, the founder of Web3 tech firm nameless, says there are too many NFT projects rushing to market without proper smart contract testing — potentially leading to millions lost.
Speaking with Cointelegraph, McNelis suggested that a lot of NFT projects often rush to market without fully simulating how its smart contracts will work, even skipping extensive audits in some cases.
McNelis said an example of this was observed during the sale of the Akutars NFT collection in February 2021 — featuring 15,000 tokens that went up for sale on Winklevoss-owned NFT marketplace Nifty Gateway.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #nft
Jimmy McNelis, the founder of Web3 tech firm nameless, says there are too many NFT projects rushing to market without proper smart contract testing — potentially leading to millions lost.
Speaking with Cointelegraph, McNelis suggested that a lot of NFT projects often rush to market without fully simulating how its smart contracts will work, even skipping extensive audits in some cases.
McNelis said an example of this was observed during the sale of the Akutars NFT collection in February 2021 — featuring 15,000 tokens that went up for sale on Winklevoss-owned NFT marketplace Nifty Gateway.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #nft
Ripple argued that XRP profits came from “market forces of supply and demand” rather than any contract between Ripple and XRP tokenholders.
The United States Securities and Exchange Commission (SEC) and Ripple Labs have both called for a federal judge to make an immediate ruling on whether Ripple’s XRP sales violated U.S. securities laws.
In separate motions filed on Saturday by Ripple and the SEC, both have called for a summary judgment in the U.S. District Court Southern District of New York.
Summary judgments are submitted to the courts when a party involved believes there’s enough evidence at hand to make a ruling without the need to proceed to trial.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #xrp
The United States Securities and Exchange Commission (SEC) and Ripple Labs have both called for a federal judge to make an immediate ruling on whether Ripple’s XRP sales violated U.S. securities laws.
In separate motions filed on Saturday by Ripple and the SEC, both have called for a summary judgment in the U.S. District Court Southern District of New York.
Summary judgments are submitted to the courts when a party involved believes there’s enough evidence at hand to make a ruling without the need to proceed to trial.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #xrp
NFTs improve interactivity by allowing users to unlock fully modular, community-driven in-game experiences to which they own the pieces, explains Mark Soares, the founder of Blokhaus Inc.
Nonfungible tokens (NFTs) have taken the gaming world by storm. Whether it’s through limited edition collectibles, avatar enhancement or play-to-earn incentivization, digital assets have given in-game ownership a new meaning.
The ways in which NFTs are available to players are becoming increasingly tangible. In the case of Blockxer, the latest blockchain game from Blokhaus Inc., every component of the game has been NFT-ized and available for modification by users.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #blokhaus
Nonfungible tokens (NFTs) have taken the gaming world by storm. Whether it’s through limited edition collectibles, avatar enhancement or play-to-earn incentivization, digital assets have given in-game ownership a new meaning.
The ways in which NFTs are available to players are becoming increasingly tangible. In the case of Blockxer, the latest blockchain game from Blokhaus Inc., every component of the game has been NFT-ized and available for modification by users.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #blokhaus
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The role includes “full product life cycle legal advice and support for global NFT products," among other responsibilities.
The Walt Disney Company could be on the verge of expanding into the crypto space after posting a new job for an “experienced corporate attorney” to work on “emerging technologies” such as nonfungible tokens (NFTs) and the Metaverse.
According to the Sept. 23 listing on the Disney careers website, the company is hiring for a “Principal Counsel — Corporate Transactions, Emerging Technologies & NFTs” to work on transactions involving NFTs, the Metaverse, blockchain, and decentralized finance (DeFi).
Specifically the entertainment conglomerate is seeking someone to provide “full product life cycle legal advice and support for global NFT products" and ensure they comply with all current laws and regulations on U.S. soil and internationally.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #disney
The Walt Disney Company could be on the verge of expanding into the crypto space after posting a new job for an “experienced corporate attorney” to work on “emerging technologies” such as nonfungible tokens (NFTs) and the Metaverse.
According to the Sept. 23 listing on the Disney careers website, the company is hiring for a “Principal Counsel — Corporate Transactions, Emerging Technologies & NFTs” to work on transactions involving NFTs, the Metaverse, blockchain, and decentralized finance (DeFi).
Specifically the entertainment conglomerate is seeking someone to provide “full product life cycle legal advice and support for global NFT products" and ensure they comply with all current laws and regulations on U.S. soil and internationally.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #disney
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Undeads team puts balanced tokenomics and healthy game economy design first, so we have collaborated with Machinations to achieve the best results and ensure sustainable growth of the Undeads Metaverse. Machinations offers the all-in-one toolkit for testing, simulating and verifying tokenomics and game economy of Web3 games. We are proud to partner with Machinations and hope for long-term and fruitful collaboration on all further steps of the Undeads Metaverse development.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #machination
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #machination
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The customizable card will only support NFT avatars from select blue chip collections, subject to Mastercard’s design standards and an owner verification process.
Mastercard has launched customizable nonfungible token (NFT) debit cards, allowing some cardholders who own avatars from select NFT collections to add the artwork onto the payment's card.
The debit cards are made available through a Sept. 26 partnership with European cryptocurrency exchange platform, “hi” allowing its “Gold” members to personalize their debit cards with an NFT they verifiably own
Gold membership with the platform is obtained by staking a minimum of 100,000 hi Dollar’s (HI), the platform's native token, a sum worth around $4,600 according to data from CoinGecko.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #moonbirds #boredapes
Mastercard has launched customizable nonfungible token (NFT) debit cards, allowing some cardholders who own avatars from select NFT collections to add the artwork onto the payment's card.
The debit cards are made available through a Sept. 26 partnership with European cryptocurrency exchange platform, “hi” allowing its “Gold” members to personalize their debit cards with an NFT they verifiably own
Gold membership with the platform is obtained by staking a minimum of 100,000 hi Dollar’s (HI), the platform's native token, a sum worth around $4,600 according to data from CoinGecko.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #moonbirds #boredapes
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Jerome Powell acknowledged that DeFi will start to reach more retail customers, highlighting the need for regulation.
United States Federal Reserve chairman Jerome Powell has spoken out about the expansion of decentralized finance (DeFi) and its impact on the traditional finance ecosystem, calling for appropriate regulation.
During an event titled the “Opportunities and challenges of the tokenisation of finance” hosted by the Banque de France on Sept. 27, Jerome Powell said there were “very significant structural issues around the lack of transparency” in the DeFi ecosystem.
The comments followed those by Bank for International Settlements (BIS) general manager Agustín Carstens who expressed concern over the contrast between DeFi and traditional finance.
Carstens added that the “huge challenge” that they (central bankers and regulators) face is that the DeFi and crypto world is global and borderless.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn
United States Federal Reserve chairman Jerome Powell has spoken out about the expansion of decentralized finance (DeFi) and its impact on the traditional finance ecosystem, calling for appropriate regulation.
During an event titled the “Opportunities and challenges of the tokenisation of finance” hosted by the Banque de France on Sept. 27, Jerome Powell said there were “very significant structural issues around the lack of transparency” in the DeFi ecosystem.
The comments followed those by Bank for International Settlements (BIS) general manager Agustín Carstens who expressed concern over the contrast between DeFi and traditional finance.
Carstens added that the “huge challenge” that they (central bankers and regulators) face is that the DeFi and crypto world is global and borderless.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn
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The project will connect SWIFT's network to nearly every blockchain to allow traditional finance players access to digital and traditional assets on the one network.
Interbank messaging system SWIFT has partnered with price oracle provider Chainlink (LINK) to work on a proof-of-concept (POC) project which would allow traditional finance firms the ability to transact across blockchain networks.
Chainlink co-founder Sergey Nazarov announced the project at its SmartCon 2022 Conference in New York on Sept. 28 alongside SWIFT strategy director Jonathan Ehrenfeld Solé.
At the conference, Solé said there is “undeniable interest from institutional investors into digital assets” adding these traditional finance players want access to digital and traditional assets on one platform.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #link
Interbank messaging system SWIFT has partnered with price oracle provider Chainlink (LINK) to work on a proof-of-concept (POC) project which would allow traditional finance firms the ability to transact across blockchain networks.
Chainlink co-founder Sergey Nazarov announced the project at its SmartCon 2022 Conference in New York on Sept. 28 alongside SWIFT strategy director Jonathan Ehrenfeld Solé.
At the conference, Solé said there is “undeniable interest from institutional investors into digital assets” adding these traditional finance players want access to digital and traditional assets on one platform.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #link
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A crypto platform that caters to electronic music fans says it’s secured partnerships with some of the world’s biggest clubs and festivals.
Crypto enthusiasts love to party — And now, a new project has been launched that caters exclusively to clubbers.
Klubcoin is championing a new concept called “party-to-earn,” meaning members of its community can gain VIP access to “insane” experiences.
The project says it has already attracted support from some of the world’s biggest clubs, festivals and electronic music brands, such as Amnesia Ibiza, Festicket, Clubbing TV, Bootshaus, Caprices Festival and DJ Mag.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #partytoearn
Crypto enthusiasts love to party — And now, a new project has been launched that caters exclusively to clubbers.
Klubcoin is championing a new concept called “party-to-earn,” meaning members of its community can gain VIP access to “insane” experiences.
The project says it has already attracted support from some of the world’s biggest clubs, festivals and electronic music brands, such as Amnesia Ibiza, Festicket, Clubbing TV, Bootshaus, Caprices Festival and DJ Mag.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #partytoearn
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New Zealand lawmakers and regulators largely have not imposed strict guidelines for crypto firms to operate in the country, nor for Kiwis to use cryptocurrencies freely.
Global cryptocurrency exchange Binance has registered with New Zealand’s Ministry of Business, Innovation and Employment and opened local offices in the country.
In a Sept. 29 tweet, Binance said it was registered as a financial service provider in New Zealand, allowing residents to access services including spot trading, nonfungible tokens and staking. The move to the crypto-friendly Pacific nation followed regulators in Dubai, Abu Dhabi, Kazakhstan and Italy giving the green light for Binance to open an offshoot.
“New Zealand is an exciting market with a strong history of fintech innovation,” said Binance CEO Changpeng Zhao.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #binance
Global cryptocurrency exchange Binance has registered with New Zealand’s Ministry of Business, Innovation and Employment and opened local offices in the country.
In a Sept. 29 tweet, Binance said it was registered as a financial service provider in New Zealand, allowing residents to access services including spot trading, nonfungible tokens and staking. The move to the crypto-friendly Pacific nation followed regulators in Dubai, Abu Dhabi, Kazakhstan and Italy giving the green light for Binance to open an offshoot.
“New Zealand is an exciting market with a strong history of fintech innovation,” said Binance CEO Changpeng Zhao.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #binance
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Centralized databases on Web2 are a honeypot for hackers. Decentralizing data on Web3 eliminates a major vulnerability for companies like Uber.
Uber is a staple of the gig economy, for better or worse, and a disruptor that once sent shockwaves throughout the mobility space. Now, however, Uber is being taken for a ride. The company is handling a reportedly far-reaching cybersecurity breach. According to the ride-hailing giant, the attacker has not been able to access sensitive user data, or at least, there is no evidence to suggest otherwise. Whether or not sensitive user data was exposed, this case points to a persistent issue with today’s apps. Can we continue to sacrifice our data — and thereby our privacy and security — for convenience?
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #web3 #uber
Uber is a staple of the gig economy, for better or worse, and a disruptor that once sent shockwaves throughout the mobility space. Now, however, Uber is being taken for a ride. The company is handling a reportedly far-reaching cybersecurity breach. According to the ride-hailing giant, the attacker has not been able to access sensitive user data, or at least, there is no evidence to suggest otherwise. Whether or not sensitive user data was exposed, this case points to a persistent issue with today’s apps. Can we continue to sacrifice our data — and thereby our privacy and security — for convenience?
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #web3 #uber
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As one of the oldest entertainment industries in existence, the music business has experienced many technological advances that enhanced widespread adoption.
The digitalization of music meant that artists could reach any audience across the world, and digital distribution gifted people with unlimited access to music.
With these advances in distribution came some drawbacks in music monetization.
The way musicians make money in a digital format has reduced margins from media or video revenue.
Artists have been pushed back to generating revenue from offline endeavors like concerts and selling merchandise as the online landscape has been filled with intermediaries that take a piece of the pie.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #web3
The digitalization of music meant that artists could reach any audience across the world, and digital distribution gifted people with unlimited access to music.
With these advances in distribution came some drawbacks in music monetization.
The way musicians make money in a digital format has reduced margins from media or video revenue.
Artists have been pushed back to generating revenue from offline endeavors like concerts and selling merchandise as the online landscape has been filled with intermediaries that take a piece of the pie.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #web3
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The details of the withdrawal will reportedly be part of upcoming court filings, and it’s possible the founder and former CEO of the crypto platform could be forced to pay it back.
Celsius Network founder and former CEO Alex Mashinsky allegedly withdrew $10 million from the crypto lending platform just weeks before the company froze customer funds and declared bankruptcy.
The withdrawal was cited by sources from the Financial Times who said Mashinsky withdrew the funds in “mid to late May” prior to the June 12 pause on all withdraws.
Celsius was a popular crypto-lending platform with 1.7 million customers and $25 billion in assets under management but the prevailing poor crypto market conditions eventually led the company to a $2.85 billion gap in its balance sheet.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #celsius
Celsius Network founder and former CEO Alex Mashinsky allegedly withdrew $10 million from the crypto lending platform just weeks before the company froze customer funds and declared bankruptcy.
The withdrawal was cited by sources from the Financial Times who said Mashinsky withdrew the funds in “mid to late May” prior to the June 12 pause on all withdraws.
Celsius was a popular crypto-lending platform with 1.7 million customers and $25 billion in assets under management but the prevailing poor crypto market conditions eventually led the company to a $2.85 billion gap in its balance sheet.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #celsius
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Other users in the Crypto Twitter community believe lax security management is to blame for the latest phishing scam aimed at Beeple’s fans and followers.
Nonfungible token (NFT) artist Mike “Beeple” Winkelmann has found himself the target of phishing scammers yet again, warning users that the URL link to his official Discord server was “hacked” — sending unaware new members to a wallet-draining Discord channel if they follow the link.
In an Oct. 3 post, the NFT artist warned users not to go into the “fraudulent” Discord channel and verify as it will “drain your wallet.”
However, Beeple wasn’t the first to notice the URL sleight-of-hand, with Twitter user maxnaut.eth noting in a post hours earlier that the Discord link connected to the Beeple: Everydays — 2020 Collection on NFT marketplace OpenSea may have been “hijacked.”
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn
Nonfungible token (NFT) artist Mike “Beeple” Winkelmann has found himself the target of phishing scammers yet again, warning users that the URL link to his official Discord server was “hacked” — sending unaware new members to a wallet-draining Discord channel if they follow the link.
In an Oct. 3 post, the NFT artist warned users not to go into the “fraudulent” Discord channel and verify as it will “drain your wallet.”
However, Beeple wasn’t the first to notice the URL sleight-of-hand, with Twitter user maxnaut.eth noting in a post hours earlier that the Discord link connected to the Beeple: Everydays — 2020 Collection on NFT marketplace OpenSea may have been “hijacked.”
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn
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Under a partnership with Near Protocol, Google Cloud will support Near developers in building and scaling their Web3 projects and DApps.
Near Foundation has announced a new partnership between Google Cloud and Near Protocol, providing infrastructure for Near’s Web3 startup platform, Pagoda.
According to an Oct. 4 announcement, this partnership will allow Google Cloud to provide “technical support” to Near grant recipients by providing infrastructure for Near’s Remote Procedure Call node provider to Pagoda.
Near Protocol is a decentralized application (DApp) platform that focuses on usability among developers and users. It utilizes sharding technology to achieve scalability and, as a competitor to Ethereum, is also smart-contract capable and a proof-of-stake blockchain.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #near
Near Foundation has announced a new partnership between Google Cloud and Near Protocol, providing infrastructure for Near’s Web3 startup platform, Pagoda.
According to an Oct. 4 announcement, this partnership will allow Google Cloud to provide “technical support” to Near grant recipients by providing infrastructure for Near’s Remote Procedure Call node provider to Pagoda.
Near Protocol is a decentralized application (DApp) platform that focuses on usability among developers and users. It utilizes sharding technology to achieve scalability and, as a competitor to Ethereum, is also smart-contract capable and a proof-of-stake blockchain.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #near
Rumors of a significant exploit on the BNB Chain were confirmed by the blockchain's team, with all deposits and withdrawals suspended on the network.
BNB Chain (BNB), the blockchain of crypto exchange Binance, was paused on Oct. 6 due to an exploit on its cross-chain bridge with attackers making off with an estimated $100 million worth of cryptocurrency.
The official Twitter account of the BNB Chain first announced the temporary pause due to “irregular activity” on the blockchain, but soon after added that it was due to a possible exploit. Binance provided an update that the blockchain was “under maintenance” suspending all deposits and withdrawals.
Rumors had earlier swirled on Twitter that the network had undergone a significant hack, with on-chain analytics showing alleged attackers exploiting roughly two million BNB, the chain's native coin, a value of nearly $600 million.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #bnb #binance
BNB Chain (BNB), the blockchain of crypto exchange Binance, was paused on Oct. 6 due to an exploit on its cross-chain bridge with attackers making off with an estimated $100 million worth of cryptocurrency.
The official Twitter account of the BNB Chain first announced the temporary pause due to “irregular activity” on the blockchain, but soon after added that it was due to a possible exploit. Binance provided an update that the blockchain was “under maintenance” suspending all deposits and withdrawals.
Rumors had earlier swirled on Twitter that the network had undergone a significant hack, with on-chain analytics showing alleged attackers exploiting roughly two million BNB, the chain's native coin, a value of nearly $600 million.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #bnb #binance
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The crypto exchange reportedly cut the scope of sponsorship agreements inked with sports organizations including the Angel City Football Club, the 2022 FIFA World Cup and Twitch Rivals.
Cryptocurrency exchange Crypto.com has reportedly reduced the scale of many of its sponsorship deals with sports organizations amid staff cuts and the market downturn.
According to an Oct. 6 report, Ad Age tech reporter Asa Hiken said Crypto.com cut the scope of sponsorship agreements inked with major sports organizations including Los Angeles' Angel City Football Club, the 2022 FIFA World Cup in Qatar and esports tournament host Twitch Rivals — in some cases reportedly attempting to pull out of the deals entirely. Hiken cited unnamed former and current Crypto.com employees, who said the crypto exchange had begun considering such actions following the market downturn in May.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #cryptocom
Cryptocurrency exchange Crypto.com has reportedly reduced the scale of many of its sponsorship deals with sports organizations amid staff cuts and the market downturn.
According to an Oct. 6 report, Ad Age tech reporter Asa Hiken said Crypto.com cut the scope of sponsorship agreements inked with major sports organizations including Los Angeles' Angel City Football Club, the 2022 FIFA World Cup in Qatar and esports tournament host Twitch Rivals — in some cases reportedly attempting to pull out of the deals entirely. Hiken cited unnamed former and current Crypto.com employees, who said the crypto exchange had begun considering such actions following the market downturn in May.
#blockchain #nonfungible #gamefi #metafi #defi #playtoearn #cryptocom
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