An Ethereum (ETH)-competitor is printing gains after receiving support from the world’s largest crypto exchange by volume. In a new announcement, Binance says it will be adding support for Sonic (S), formerly known as Fantom (FTM), to many of its programs. “Binance is excited to announce that Sonic will be added to Binance Simple Earn, […]
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Sonic Labs has unveiled Blaze, its upgraded testnet 2.0, showcasing groundbreaking advancements in the blockchain’s speed and efficiency. Sonic Labs’ Blaze Testnet Pushes Blockchain Boundaries The Sonic blockchain is an up and coming layer one (L1) Ethereum Virtual Machine-compatible network designed for high-speed transaction processing. Known for its rapid transaction finality, the blockchain achieved a […]
A widely followed crypto strategist believes one under-the-radar Ethereum (ETH) challenger will hit his massive price target this cycle. Pseudonymous trader Rager tells his 199,100 followers on the social media platform X that he’s bullish on layer-1 protocol Fantom (FTM). Rager shares a chart suggesting that FTM will hit his price target of $3.31 by […]
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A closely followed analyst believes that one Ethereum (ETH) challenger is gearing up to spark massive rallies and play catch-up with other high-flying crypto assets. In a video update, pseudonymous analyst Rager tells his 197,800 followers on the social media platform X that Fantom (FTM) is one of his highest conviction trades for the coming […]
The post Trader Says Ethereum Rival One of His ‘Highest Conviction’ Trades, Forecasts Major Catch-Up on Bullish Catalyst appeared first on The Daily Hodl.
Fantom price flashes a classic bullish trading pattern which could extend its month-long double-digit rally.
Fantom (FTM) price has risen 25% in seven days, to $0.51 on Sept. 16. This is part of a rebound that began on Aug. 6 and has seen the price rise more than 40% over the last 30 days.
Data from Cointelegraph Markets Pro and TradingView shows FTM rose from a low of $0.26 on Aug. 5, climbing as much as 103% to an intraday high of $0.53 on Sept. 16.
FTM/USD daily chart. Source: TradingView
Sonic could become the fastest blockchain by finality if it maintains the performance on its mainnet.
The Sonic blockchain has achieved a transaction finality of 720 milliseconds (ms) during its testnet.
In blockchain, finality is the assurance that a transaction is irreversible, which happens after it is added to a block on the blockchain ledger.
Sonic claims to be the world’s fastest Ethereum Virtual Machine (EVM) chain, with a “true” 720-ms finality, according to Andre Cronje, the creator of the Fantom Network and the chief technology officer of Sonic Labs.
The Fantom Foundation has unveiled a treasury allocation of 200 million FTM, approximately $120 million USD, to expedite the migration of partners to its new Sonic network. This allocation includes native application grants, strategic grants to decentralized applications (dapps), and first-class infrastructure tools and partners for developers and users. The Foundation is said to be […]
Sega is still reportedly licensing its lesser-known properties out for NFTs and blockchain games, but its best ones are being kept close.
The co-chief operating officer of Sega has called play-to-earn games “boring” amid the firm’s retreat from franchising some of its hottest properties to the blockchain gaming space.
Bloomberg reported on July 6 that Shuji Utsumi, the co-COO of the gaming company behind Sonic The Hedgehog, said Sega would shelve plans to develop blockchain games for now.
Third-party blockchain gaming projects would also not get access to Sega’s biggest franchises, with Utsumi adding:
“The action in play-to-earn games is boring, what’s the point if games are no fun?”
However, some of the less-known Sega titles will still get licensed for runs in nonfungible token (NFT) collections, its lesser franchises are getting blockchain games slated for announcements later this year and Sega is still pumping millions into related projects.
Breaking: Via @bloomberg, SEGA Co-COO Shuji Utsumi has confirmed that SEGA’s biggest IPs, Sonic will not use blockchain, to avoid devaluing them. #SonicNews
— Sonic Stadium ✪ Sonic the Hedgehog Community (@sonicstadium) July 7, 2023
They were non-committal on using Web3 for their fabled “super game.”
Source: https://t.co/fgeVTRYHdB
It's up in the air if the “super game” touted by Sega for the last year — set for launch in 2026 — will still involve Web3 tech.
Utsumi believed the tech is useful for such cases as moving in-game items between gaming titles but Sega may hang back until the tech sees wider use.
“We’re looking into whether this technology is really going to take off in this industry, after all,” Utsumi said.
Professional American football star Tom Brady is reportedly switching up the strategy for his NFT-focused startup Autograph — which is now moving away from NFTs.
On July 6 The New York Times reported Autograph’s marketing has quietly removed crypto language, downplays terms such as NFT and has shifted focus away from marketing them with a new focus on helping stars generally spin up loyalty with their fans, according to people with knowledge of the firm.
Brady co-founded the company in 2021 with the aim of helping celebrities sell NFTs, scoring a $170 million Series B in January 2022 and lining up NFT deals with ESPN, the pro golfing organization the PGA Tour and others.
Autograph’s revenue supposedly tanked in 2022 in line with the wider crypto market, according to a person familiar with the firm's finances.
Brady’s reputation in crypto has suffered due to his ties with the now-bankrupt crypto exchange FTX. He’s also named in a class action lawsuit aimed at alleged celebrity promotors of the exchange.
Metaverses and those who create them won’t need to worry about specific regulations — at least not yet in the European Union (EU).
Reuters reported on June 6 that EU competition commissioner Margrethe Vestager said there haven’t been any concerns triggered over the space even though Tech Giants Microsoft, Meta and now Apple have together poured billions into trying to corner the nascent sector.
The big spending by a small concentration of companies in a new market raises no competition concerns for Vestager:
"Actually we see that there is a lot of innovation when it comes to virtual worlds. I don't think that any company can claim that they will own it, so to speak, but that is what we hope to find out."
Existing EU laws around market monopolies, privacy and the incoming rules on artificial intelligence can also be applied to the Metaverse according to Vestager.
#Alphabet#Amazon#Apple#ByteDance#Meta#Microsoft#Samsung
— Margrethe Vestager (@vestager) July 4, 2023
⬆️the #platforms that notified us under the #DMA
If confirmed as gatekeepers, they will need to comply with #DMA keep markets fair & open, for us to have wide and affordable choices online
https://t.co/0tqmE02r1u pic.twitter.com/h4wn3mUGKc
"In Europe, now we have a body of digital legislation, she added. “I think we do have time to explore, to know that we should not jump to regulation as the first sort of safety pad."
She said next week she will present a metaverse-related initiative aimed at helping antitrust regulators understand the space.
U.S. professional baseball is getting a stadium in the Metaverse, apparently, the first professional league to own a virtual world for fans to gather in.
On July 5, metaverse tech firm Improbable announced the new virtual space, giving it the inventive title of “MLB virtual ballpark.”
Related: Yes, the Secret Service has an NFT collection, and no, it’s not for sale
The virtual stadium was developed within Improbable’s “MSquared” network of interoperable Web3 metaverses. Improbable also helped NFT conglomerate Yuga Labs build its Otherside metaverse.
⚾️ Announcing the launch of the all-new @MLB virtual ballpark. ( 1/7)
— Improbable (@Improbableio) July 5, 2023
The #MLB virtual ballpark will allow fans to gather and interact simultaneously in a single place, making it the 1st service to host such large interactive sports experiences. pic.twitter.com/dA9v0iXiAI
MLB’s executive VP of media and business development, Kenny Gersh, said “not everyone has the opportunity to attend Major League games” but now that’s been opened “to anyone with an internet connection.”
Improbable founder and CEO, Herman Narula, believed the tech could help with “creating and selling [...] Digital assets.” The League has an existing partnership with the NFT platform Candy Digital.
NFT royalties on Ethereum are at a two-year low according to data shared with Cointelegraph by analytics firm Nansen. The royalty drop comes as the floor price of Yuga’s flagship Bored Ape Yacht Club (BAYC) NFTs are also hitting a dip.
Animoca Brands co-founder Yat Siu told Cointelegraph the firm is optimistic about the blockchain gaming sector and said it’s looking for a license before putting its $800 million metaverse fund to work.
NFT Collector: Snoop’s NFT nostalgia, The Goose draws Gen Y to Sotheby’s
Dfinity Foundation’s Internet Computer blockchain has welcomed its first decentralized exchange named Sonic.
The first decentralized exchange on the Dfinity Foundation’s Internet Computer blockchain went live this week, following up on the recent release of a new whitepaper. And according to information shared with Cointelegraph, there are already two other exchanges in the works.
The first version of the new DEX called Sonic launched to mainnet on Sunday. There are initially only three pools for token swaps using its native token Internet Computer Protocol (ICP): InterICP/WICP (wrapped ICP), ICP/XTC (Cycles Token), and WICP/XTC. Users can also earn rewards for providing liquidity.
Sonic, the first DEX to launch on the Internet Computer, is now live.@sonic_ooo offers a suite of DeFi products for the #InternetComputer blockchain, operating on a gasless AMM. ⛽️
— DFINITY Foundation (@dfinity) January 22, 2022
DeFi on the IC has arrived. https://t.co/IjClg4LRxo pic.twitter.com/CH3f3qgIVM
Dfinity Head of Comms Michael Less told Cointelegraph that Sonic plans to redefine what it truly means to be an example of decentralized finance (DeFi). Sonic has sub-one second transaction finality and is entirely run on the IC’s public blockchain network without any gas fees.
“It is completely running on a public blockchain, where it cannot be shut down — you can’t shut it down, it runs perpetually,” he said, explaining that its current primary focus is an upcoming integration with Ethereum, which is slated for Q3 this year.
“You’re going to be able to bring your Ethereum assets into Sonic, and it will be like Uniswap but with no gas fees and lightning fast.”
There are already plans for a Sonic V2, which will add a token Launchpad, DAO (decentralized autonomous organization) tools, and its own native SONIC governance token. The launch date for Sonic V2 is yet to be confirmed.
According to information shared with Cointelegraph, there are at least two other DEXs that will be joining Sonic on the IC “in the next few weeks”, including InfinitySwap and ICP Swap.
Internet Computer is a public blockchain and protocol aimed at running a truly decentralized internet by allowing developers to install smart contracts and decentralized applications (DApps) directly on the blockchain.
It was incubated and launched after years in development by Dfinity in May 2021 – a nonprofit based in Zurich.
The new white paper “The Internet Computer for Geeks” released on Jan 21 goes back to basics, explaining the fundamentals of how the IC uses smart contracts to power the emerging Web 3.0 decentralized ecosystem.
Related: Internet Computer: Correction risk rises after ICP price gains nearly 60% in 5 days
According to Dfinity, there are over a thousand developers building on the IC blockchain. Projects include social media DApps such as Desocial, DSCVR and Distrikt; Metavserse projects such as PokedStudios and IC Gallery, and gamefi projects such as Cube Run and MetaSports Basketball.
