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TON flips ETH in daily active addresses, but that’s not the full picture

TON has seen more daily active addresses than Ethereum in 10 of the last 11 days — however, that figure doesn’t include Ethereum layer 2s.

Update June 13, 08:40 am UTC: This article headline has been updated to clarify TON has recorded more active addresses 

Telegram’s “The Open Network” (TON) blockchain has recorded more daily active addresses than Ethereum nearly every day this month.

One firm suggests it could be a quiet “flippening” fueled by a massive user base. Though, one could argue the data doesn’t show the full picture either.

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Celestia Raises $55 Million to Solve Blockchain Modularity Challenge

Celestia Raises  Million to Solve Blockchain Modularity ChallengeCelestia, a project that aims to solve the perceived centralization problem in current monolithic blockchains, has announced it has raised $55 million in its latest funding round. The round, which was led by Bain Capital Crypto and Polychain Capital, also saw the participation of Delphi Digital, Protocol Labs, Figment, Maven 11, and Spartan Group, among […]

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Delphi Labs shifts research focus to a new crypto ecosystem… and it’s not Ethereum

As part of Delphi Digital’s research into major ecosystems to find a new focus for its R&D arm, the firm has selected Cosmos over Ethereum as it thinks the latter is too slow and expensive.

Crypto research firm Delphi Digital has shifted the focus of its research and development (R&D) protocol arm Delphi Labs to the Cosmos ecosystem.

Delphi Labs is Delphi Digital's protocol R&D arm, with a team of around 50 aimed at incubating "Web3 primitives." The R&D arm had previously been focused on researching and developing protocols on Terra but was forced to look into other ecosystems following its collapse in May. 

Delphi Digital is an independent research and investment firm founded in 2018 that provides institutional-grade analysis of the digital asset market, which launched its Labs wing in 2021. 

In a lengthy report published on Sept. 8, Delphi Digital said its team analyzed a range of different blockchain ecosystems to determine which was the most suitable for its needs, particularly in relation to decentralized finance (DeFi), but ultimately decided on the Cosmos ecosystem.

Describing it as “an ecosystem of interoperable blockchains,” Delphi Labs decided Cosmos was the best ecosystem to focus its R&D on. It pointed to Cosmos’ ability to benefit from an increasing number of app chains and cross-chain interoperability as major positives.

The firm also outlined speed, chain liquidity, decentralization, cross-chain interoperability, technical maturity, and code portability as key factors in its decision to back Cosmos, despite the fact that the ecosystem is somewhat lacking compared to competitors such as Ethereum. 

Delphi Digital suggested that despite Ethereum hosting the majority of DeFi apps, the speed and cost of using the Ethereum base layer is the main drawback of the blockchain, resulting in a poor user experience.

Related: Why interoperability is the key to blockchain technology’s mass adoption

The report noted that rollups allow Ethereum to overcome this problem but sees interoperability between chains and outages or latency issues as major issues.

Polygon (MATIC), Optimism (OP), Starknet (STARKNET), Cosmos (ATOM), Avalanche (AVAX), Solana (SOL), Polkadot (DOT), Near (NEAR), and Celestia (CELT) were all compared within the report, with Cosmos scoring the highest overall. 

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Delphi Digital: How to get gamers to accept the integration of NFTs

Delphi Digital outlined that games could provide a core free-to-play experience for anyone to enjoy, while incorporating NFTs as part of expanded experience..

Crypto research firm Delphi Digital has outlined possible ways in which gamers may accept nonfungible tokens (NFTs) as part of their gameplay experience, such as using the tech for additional aspects that don’t impact the core experience.

The lengthy report was published by Delphi Digital on Wednesday and explores how NFTs can be incorporated into games without impacting the core gaming experience or “true competitive play” that gamers tend to value.

The report argues that if monetization and NFT elements can be incorporated correctly, gamers might not be so staunchly against the idea:

“If untamed, money will always trend towards the dominant motivator. As such, the first port of call is to separate out the market games from the core game loop itself.”

Delphi Digital outlined that a way to do this could be for a game to provide a core free-to-play experience for anyone to enjoy while utilizing NFTs for optional experiences such as tickets to tournaments, new character skins, side games and competition rewards.

The firm explained that this would allow those who are using the game for its monetization purposes to prosper, while those there for enjoyment can play without being forced to buy NFTs, or struggle to compete with top-spenders within the gaming marketplaces.

“Nobody is tricked into playing the other’s game,” the report noted.

The report also went on to argue that the “more people care about the game,” the more likely they are to spend money on it, suggesting that the core gaming experience needs to be meaningful enough to make hesitant gamers even consider purchasing an in-game NFT:

“In theory, the more people care about the game, the more gets spent directly on metagames. By maximizing meaning generation and competition in the core game, we are able to maximize revenues through peripheral monetization around it.”

Gamer hate

The report addresses the dislike of crypto games from the traditional gaming community by noting that there is “validity to many of the critiques” that have surfaced.

In particular, Delphi Digital highlighted that much of the hostility toward crypto appears to stem from the negative implications that monetization has had on traditional gaming, such as developers purposely limiting functionality to push users to spend more money to get the full experience:

“Parts of the traditional gaming industry have skewed towards aggressive monetization practices that are sometimes detrimental to the player’s experience.”

“As such, when gamers see the need to purchase NFTs to play with early crypto games, or large publishers announce plans to build in this sector, they assume it’s another money grabbing attempt and shy away from it,” the report added.

Related: Mojang Studios bans Minecraft NFT integrations

Delphi emphasized that this “isn’t to say that all forms of monetization are bad,” but crypto or not, it needs to be done in ways that don’t negatively impact the game.

Commenting on the current state of crypto gaming, the report also notes that the sector has so far seen the monetary components of the game’s trend toward the “dominant motivator” for users. As a result, it argues that the actual gaming quality has suffered while whales have been able to dominate most games for speculative purposes:

“The gameplay of these early titles has suffered on two fronts: 1) the primary incentive of the bulk of the player base is the expectation of financial reward rather than play and 2) the core competitive circuit has been subject to pay-to-win mechanics as whales can spend their way to success.”

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One Ethereum Rival Eyes Major Breakout After Gaining $1,200,000,000 in Total Value Locked: Delphi Digital

Crypto research firm Delphi Digital thinks a blockchain platform designed for decentralized finance (DeFi) could be the next major player among layer-1 scaling solutions. In its Delphi Daily tweets offering updates and insights about the crypto space, the firm tells its 103,700 followers that Fantom (FTM) is defying an industry-wide downtrend by racking up an […]

The post One Ethereum Rival Eyes Major Breakout After Gaining $1,200,000,000 in Total Value Locked: Delphi Digital appeared first on The Daily Hodl.

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Daily Earnings of Typical Axie Infinity Player ‘Fall Below the Philippines’ Minimum Wage Line:’ Report

Daily Earnings of Typical Axie Infinity Player ‘Fall Below the Philippines’ Minimum Wage Line:’ ReportThis year, the Sky Mavis-crafted blockchain game Axie Infinity has seen incredible growth and has recently surpassed $3 billion in all-time sales. However, researchers at Naavik explain in a recent study that Axie Infinity players called ‘scholars’ are seeing daily earnings drop, and many have seen earnings dip below the minimum wage line of countries […]

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Defi Derivatives Exchange Dydx Raises $65 Million – Project Plans to ‘Launch a Mobile Application’

Defi Derivatives Exchange Dydx Raises  Million – Project Plans to ‘Launch a Mobile Application’The decentralized exchange (dex) Dydx announced the organization has raised $65 million in a Series C funding round led by Paradigm. The Dydx announcement notes that the additional capital will be leveraged to “significantly improve liquidity” on the dex platform “through the volatility of the cryptocurrency markets.” Defi Exchange Dydx Raises $65 million from Strategic […]

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Delphi Digital forms $5 million NFT investment ‘syndicate’

The new investment wing will focus on NFTs and NFT infrastructure.

Delphi Digital, a multi-service cryptocurrency investment, consulting, and research firm, has announced today the launch of "Delphi INFINFT," a new investment wing focused on NFTs and the NFT ecosystem.

Per a post of Twitter, the fund will invest upwards of $5 million into “NFT marketplaces, DAOs, social tokens, fractionalization, NFT infrastructure, and any other new developments that may arise during the syndicate's investment cycle,” and the team will be bolstered by noted NFT collector “gmoney.”

A NFT-focused fund might not be a surprise, given how the use case has been a bannercarrier bringing blockchain into public consciousness. However, NFT prices can be notoriously volatile and uncorrelated to the wider crypto markets

Delphi co-founder Yan Liberman told Cointelegraph the company is prepared to weather any downturns, however.

“Our fund has a very long term focus so the volatility is less of a concern. We actually think of it opportunistically in that it can favorable price entries,” he said.

Additionally, the company’s investment processes won’t have to change to accommodate the focus on a new asset class.

“Our investment process is very similar to the one we employ at Delphi Ventures. Begins with heavy due diligence and ends with a firm wide investment committee where we leverage our spectrum of expertise to have an exhaustive discussion about the project and landscape. The investment philosophy is also similar in that we're looking to support the best founders and ideas with everything Delphi has to offer.”

The firm’s claim to being the “first” on-chain NFT-focused fund did ruffle some pink feathers, however. As multiple members were quick to point out in Delphi’s Twitter thread, Flamingo DAO was the first DAO formed as a NFT investment group, and has been making headlines with high-priced purchases in recent months.

However, aside from the spat over superlatives, it’s unlikely that there will be competition between the groups. While many of Flamingo DAO’s investments thusfar have been in NFTs directly, INFINFT looks to be focusing on infrastructure, though Liberman notes that “we plan on investing in both NFT infrastructure and directly into NFTs themselves.”

Delphi is no stranger to NFTs, having announced an investment in several rare “mystic” Axies, NFT-backed critters from the Axie Infinity game, last year. Liberman told Cointelegraph that they’re excited about not just gaming NFTs, but the broad range of use cases that haven’t even reached production.

“Axies, and gaming NFT's in general, are just one subsector of NFTs that we're incredibly bullish on. We believe the majority of applications haven't been thought of yet, which is what makes us incredibly excited to launch this fund.”

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$400M gaming VC fund Bitkraft teams up with Delphi on blockchain gaming

The collaboration will seek investments in the gaming and blockchain industry.

Gaming-focused venture capital fund Bitkraft Ventures has partnered with crypto industry research firm Delphi Digital in order to invest in related projects.

The collaboration, announced on April 29, will allow Bitkraft to increase its focus on investments in firms that use blockchain technology in addition to crypto assets and economics.

Bitkraft was founded in 2015 and has more than $400 million in assets under management with more than 50 investments in companies such as Epic Games, BitFry, and Fuze TV. In August 2020, the company raised $165 million to invest in digital gaming and e-sports and it is now betting big on crypto and blockchain.

Founded in 2018, Delphi Digital is an institutional-grade research firm focused exclusively on crypto and digital assets.

The two companies intend to combine their collective expertise in gaming, e-sports, digital entertainment, crypto technology, and the crypto asset class. Bitkraft Ventures will open its investment strategy to support investments in tokens as an asset class.

Founding partner at Bitkraft Ventures, Jens Hilgers, stated that the partnership hopes to embrace the inevitable change crypto will bring to gaming and beyond.

“The open infrastructure born out of decentralized technologies is reaching sufficient maturity to support new business models and content types at scale,”

Bitkraft hired blockchain and gaming metaverse expert, and venture partner at Delphi Digital, Piers Kicks, earlier this year to spearhead its foray into the crypto industry.

Delphi Digital co-founder and COO, Anil Lulla, said the combination of expertise in the two companies “will be a compelling value proposition for prospective portfolio companies” looking to invest in the emerging space.

There has been a considerable overlap with the gaming industry and crypto space in recent months. Major Japanese game developer Nexon announced a $100 million investment in Bitcoin on April 28, while gaming giant Ubisoft announced its intentions to become corporate baker on the Tezos network the day before.

On April 8, video game stalwart Atari announced a new blockchain division that will focus on leveraging the technology for decentralized gaming.

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