‘Major implications’ for gaming tokens as CyberKongz hit with SEC Wells notice

December 16, 2024 Coin Telegraph

CyberKongz said it was first contacted by the SEC two years ago and had been “suffering in silence” ever since.

Gaming tokens could be in for a setback after non-fungible token (NFT) platform CyberKongz was hit with a Wells notice by the United States securities regulator.

The Securities and Exchange Commission (SEC) brought up the “concerning rhetoric” that an ERC-20 token in tandem with a blockchain game cannot be issued without it first being registered as a security, CyberKongz said in a Dec. 16 X post.

Such discourse would have “major implications” for the Web3 gaming industry, CyberKongz explained, adding it would “defend against this stance for the wider space.”

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Immutable pledges to fight after SEC ‘sprayed and prayed’ Wells notice

November 1, 2024 Coin Telegraph

Coin Telegraph

Blockchain gaming platform Immutable says it received a Wells notice from the SEC over alleged securities law violations within "hours" of its first interaction with the regulator.

Crypto gaming platform Immutable has pledged to fight any potential enforcement action from the United States Securities and Exchange Commission after receiving a Wells notice from the regulator.

In a Nov. 1 statement, Immutable said that while the SEC did not specify its allegations in the notice, it believes the agency’s claims are targeting the “listing and private sales” of its native IMX token in 2021.

Source: Immutable

Binance Founder CZ Warns: Receiving Crypto This Way Could Instantly Empty Your Wallet

Immutable pledges to fight after SEC ‘sprayed and prayed’ Wells notice

November 1, 2024 Coin Telegraph

Coin Telegraph

Blockchain gaming platform Immutable says it received a Wells notice from the SEC over alleged securities law violations within "hours" of its first interaction with the regulator.

Crypto gaming platform Immutable has pledged to fight any potential enforcement action from the United States Securities and Exchange Commission after receiving a Wells notice from the regulator.

Source: Immutable

Binance Founder CZ Warns: Receiving Crypto This Way Could Instantly Empty Your Wallet

How the Lindy Effect can make users overconfident in DeFi ‘brands’

October 31, 2024 Coin Telegraph

Coin Telegraph

Users have more confidence in DeFi brands the longer they survive without incident, but every new upgrade may reset the clock.

Opinion by Merlin Egalite, co-founder of Morpho Labs.

There is a great irony in crypto: it was designed to be "trustless," but trust and longevity for brands often play a major role in where users decide to allocate and use their crypto. So it's no surprise that the Lindy Effect is a concept often discussed in the DeFi space.

But it's applied inconsistently, sometimes to the companies or brands and sometimes to the code of a protocol. It's worth unpacking how the Lindy Effect can be applied to both and what users should look for when assessing their product options.

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Independence Day director creating TV series based on Web3 game

October 24, 2024 Coin Telegraph

Blockchain

The show, which is based on the "Space Nation" game, plans to use non-traditional distribution channels such as second-window broadcasts for streamers.

A live-action TV series based on the “Space Nation” Web3 game is in development with Hollywood director Roland Emmerich and producer Marco Weber leading the project.

According to an exclusive report from Variety, the duo intend to explore the game’s history, lore, and setting through a live-action series, but they’re not developing it for a network or streaming site.

Instead, the report indicates Emmerich and Weber are pursuing non-traditional distribution methods such as licensing series content for “second window streaming” — a picture-in-picture format where gamers would ostensibly stream the TV show while also streaming their live gameplay and/or commentary.

Binance Founder CZ Warns: Receiving Crypto This Way Could Instantly Empty Your Wallet

Immutable taps Fireblocks to help game developers manage digital assets

August 15, 2024 Coin Telegraph

Blockchain gaming

Immutable teams up with Fireblocks to secure asset management for Web3 games, NFTs and DeFi projects within its ecosystem.

Immutable, a Web3 gaming blockchain, announced its integration with infrastructure provider Fireblocks to assist game developers in securely storing and managing their assets.

In an announcement sent to Cointelegraph, Immutable said the new integration allows game developers to store and manage assets associated with game economies, non-fungible tokens (NFTs), and decentralized finance (DeFi) protocols.

Immutable also said it would enhance projects’ oversight of their holdings within Immutable’s Polygon-powered zero-knowledge Ethereum Virtual Machine (zkEVM) chain.

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Immutable shuts NFT marketplace, why Web3 gaming needs its own Steam: Nifty Newsletter

August 14, 2024 Coin Telegraph

Coin Telegraph

Immutable has wound down its NFT marketplace to allow marketplaces within its ecosystem to flourish.

In this week’s newsletter, find out why Immutable has retired its non-fungible token (NFT) marketplaces and why Kanpai Pandas NFTs floor prices dropped after the team’s involvement in a Donald Trump-themed token. Check out why an executive believes Web3 gaming needs a Steam-like platform, and, in other news, big companies are continuing to develop metaverse hardware.

NFT and gaming blockchain Immutable shut down its marketplace to focus on expanding its ecosystem. On Aug. 8, the network announced that it would wind down its marketplace operations on Aug. 13.

The company said it would support other marketplaces within its ecosystem instead of competing with them. The team highlighted that the Immutable marketplace was initially created to showcase what was possible with the Immutable software development kit.

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Coinbase Adds Support for Blockchain-Based Web3 Strategy Game Token BLOCKLORDS (LRDS)

July 25, 2024 The Daily Hodl

Altcoins

Top US-based crypto exchange platform Coinbase is abruptly adding support for BLOCKLORDS (LRDS), the native token of a blockchain-based strategy game. In a new announcement on the social media platform X, Coinbase says LRDS will be added with an Experimental label, meaning the token is new to the platform or it has low trading volume […]

The post Coinbase Adds Support for Blockchain-Based Web3 Strategy Game Token BLOCKLORDS (LRDS) appeared first on The Daily Hodl.

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GameFi studios are booming once again as crypto prices recover

May 15, 2024 Coin Telegraph

Axie

New Web3 gaming projects continue to enter the sector as the price of cryptocurrencies surge.

GameFi projects, the darling of the crypto industry that captivated investors’ attention during the bull run of 2020 to 2022, have made a much-anticipated comeback as Bitcoin (BTC) eyes all-time highs.

On May 15, Ethereum Web3 gaming studio Immutable announced the release of its flagship title, Guild of Guardians (GOG), on Google Play and the Apple App Store. Guild of Guardians sees players venture into Elderym, a world on the brink of destruction at the hands of the Dread. To save the world, players assemble a team of Guardians to embark on an adventure fighting through dungeons and bosses while earning GOG token rewards.

According to Immutable Games director Chris Clay, the team is planning to showcase the Immutable Passport and Immutable zkEVM. "The past fifteen months of development have been a whirlwind of laying the foundation for a game and universe we’ve only just begun building upon,” he said.

Binance Founder CZ Warns: Receiving Crypto This Way Could Instantly Empty Your Wallet

Immutable’s zkEVM to eliminate Web3 gaming gas fees

December 13, 2023 Coin Telegraph

Adoption

Immutable’s blockchain protocol will allow the game studio to cut out gas fees for users, which is widely cited as a significant barrier to Web3 gaming adoption.

Web3 gaming firm Immutable is set to completely cut out gas fee payments for gamers when its proprietary zero-knowledge proof-based (ZK-proofs) scaling platform goes live in early 2024.

Immutable zkEVM provides the technology for blockchain-based game developers to remove transaction fees from end users, which is touted to create a “frictionless onboarding” experience for gamers.

Web3 games built on blockchain protocols typically require gamers to pay the gas fees paid to network validators for processing transactions. Before the advent of layer-2 scaling protocols, Ethereum-based decentralized applications (DApps) and services relied solely on validators and miners pre-merge to process smart contract operations and their associated transactions.

Immutable

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