Zilliqa on-chain transactions plunge amid ‘technical issue’

December 18, 2023 Coin Telegraph

Nifty News: Zilliqa teases Web3 gaming console, Funko teams up with Warner Bros. and more…

September 23, 2022 Coin Telegraph

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Specifications on Zilliqa’s "user-friendly" console are yet to be revealed, but a prototype design resembling an Xbox console has been released.

Blockchain company Zilliqa is launching a Web3 focused console with a cryptocurrency wallet and mining capabilities, along with featuring gaming titles from the company.

On Sept. 23, prototype images were released showing an array of ports including HDMI, Ethernet and USB connections, although full hardware specifications and the price of the unit remain guarded. The console itself looks similar to something from Xbox, but has two green panels on the top.

The #Zilliqa gaming console seems to be taking a page form the OG Xbox playbook by putting letter into the hardware design.$ZIL #web3 #playtoearn pic.twitter.com/mln1kiUrwD
— ChaseRaz (@ChaseRaz) September 22, 2022

Zilliqa has said the console is geared toward user-friendliness and similar to conventional gaming titles will incentivize users to complete gaming missions, quests and tasks to mine its native token ZIL as a reward.

Beta testing on the console starts in October, with units expected to be available for pre-order in the first quarter of 2023. Zilliqa is a layer-1 blockchain designed for creating smart contracts and decentralized applications (DApps), it has 15 gaming projects according to its website.

In July Web3 gaming startup Polium announced its similar console, “Polium One”, supporting gaming non-fungible tokens (NFT) across eight blockchains, although the Polium One isn’t set for release until Q3 2024.

Funko and Warner Bros. collab on Walmart exclusive NFTs

Pop culture brand Funko has partnered with entertainment company Warner Bros. to offer bundled physical and NFT collectables exclusively through American retail giant Walmart.

The bundle includes a physical comic book cover and Funko figurine for DC Comics “The Brave and the Bold,” known amongst fans for introducing the concept of the popular “Justice League” superhero team, along with a matching Funko “Digital Pop!” NFT.

*Funko's "Brave and the Bold" physical bundle. Source.*

The collection is limited to 30,000 units and will debut during Walmart’s Collector Con in October, the NFTs will mint on the WAX blockchain.

Funko has continued to expand the NFT counterpart of its flagship “Pop!” figurine line which started in Aug. 2021 with a Teenage Mutant Ninja Turtles collection. Funko CEO Andrew Perlmutter has stated the company is creating NFTs to meet demand from younger collectors who value digital goods and assets.

New England Patriots get Web3 partner in Chain

Web3 software company Chain has become the official blockchain and Web3 sponsor of the National Football League (NFL) team New England Patriots, professional soccer team New England Revolution and both team's home ground, Gillette Stadium.

Chain has partnered in a multi-year deal with Kraft Sports + Entertainment, the owner of both professional teams and the stadium, to develop what it calls “state-of-the-art Web3 experiences” using Chain’s product suite, but didn’t provide exact details on its plans.

Chain CEO Deepak Thapliyal did state however that the company is aiming to “build cutting edge experiences for stadium visitors” as part of Chain’s product lineup includes support for NFTs.

Christina Aguilera files for NFT and Metaverse trademarks

Filings shared by trademark attorney Mike Kondoudis show singer Christina Aguilera has filed trademark applications with the United States Patent and Trademark Office for multiple NFT, Metaverse and crypto related products.

The filings reveal plans for the star to create audio, video and music files “authenticated by NFTs” along with “blockchain based non-fungible assets” such as virtual avatars, clothing, beauty products, other virtual merchandise and “crypto collectibles.”

Part of the application also mentions Aguilera providing musical performances, concerts and games “in the Metaverse and other virtual environments.”

More Nifty News:

NFT marketplace OpenSea announced the implementation of OpenRarity on Sept. 22, a protocol that provides verifiable rarity calculations for NFTs within its platform. The protocol uses a transparent mathematical approach to calculating rarity.

Web3 tech firm nameless is set to launch an NFT software product that enables developers to test their NFT smart contracts on fully private test nets.

Here’s What’s Next for Ethereum, Fantom and One Additional Altcoin, According to Analyst Michaël van de Poppe

June 23, 2022 The Daily Hodl

Crypto Analyst Predicts Breakout for Polygon (MATIC), Says Zilliqa (ZIL) and One Low-Cap Altcoin Flashing Strength

May 22, 2022 The Daily Hodl

Zilliqa Primed for Profit-Taking Following 46% Breakout

May 5, 2022 The Crypto Briefing

2 key metrics point toward further downside for the entire crypto market

April 29, 2022 Coin Telegraph

apecoin

Futures data and decreased demand for Tether signal that the crypto market is set for another round of pain.

The total crypto market capitalization has been holding a slightly ascending trend for the past 3 months and the $1.75 trillion support was most recently tested on April 27 as Bitcoin (BTC) bounced at $38,000 and Ether (ETH) at $2,800 on April 27.

*Total crypto market cap, USD billion. Source: TradingView*

The crypto market’s aggregate capitalization showed a 3.5% decrease in the last 7 days and notable losers were a 18.8% loss from XRP, a 10.2% loss from Cardano (ADA), and 9.7% drop in Polkadot (DOT) price.

Analyzing a broader range of altcoins provides a more balanced picture, that includes 25% gains from some gaming and Metaverse projects in the same time period.

*Weekly winners and losers among the top 80 coins. Source: Nomics*

Apecoin (APE) rallied 44% due to the upcoming Otherside metaverse land auction scheduled for April 30. The Otherside is being developed by Yuga Labs, Animoca Brands and the Bored Ape Yacht Club NFT team and NFT investors have high expectations for the project.

The native tokens of move-to-earn lifestyle app STEPN (GMT) rallied 28% after the U.S.-based crypto exchange Coinbase announced plans to list the token.

Nexo gained 15% after crypto and derivatives exchange Binance announced its listing on April 29 and Nexo also revealed plans to issue a credit card that accepts crypto as collateral rather than selling the holders’ assets.

Zilliqa (ZIL) price has been adjusting after the token pumped 380% in late March and this follows the project’s March 25 announcement of a metaverse service that will utilize Nvidia technology.

Meanwhile, data from DappRadar shows that play-to-earn unicorn, Axie Infinity (AXS) plunged to its lowest level in 9 months after the number of users and transactions declined by 15% over the last 30.

The Tether premium shows lack of demand from buyers

The OKX Tether (USDT) premium gauges China-based retail demand and it measures the difference between the China-based peer-to-peer trades and the United States dollar.

Excessive buying demand puts the indicator above fair value at 100%. On the other hand, Tether’s market offer is flooded during bearish markets, causing a 4% or higher discount.

*Tether (USDT) peer-to-peer vs. USD/CNY. Source: OKX*

The OKX Tether premium peaked at 2% on April 28, its highest level in 2022. The movement coincided with Bitcoin breaking above $40,000, but its price reverted later that day. Currently, the Tether premium stands at 0%, signaling a neutral sentiment from retail traders.

Futures markets show mixed sentiment

Perpetual contracts, also known as inverse swaps, have an embedded rate that is usually charged every eight hours. Exchanges use this fee to avoid exchange risk imbalances.

A positive funding rate indicates that longs (buyers) demand more leverage. However, the opposite situation occurs when shorts (sellers) require additional leverage, causing the funding rate to turn negative.

*Accumulated 7-day perpetual futures funding rate on April 29. Source: Coinglass*

As shown above, the accumulated seven-day funding rate is slightly positive for Bitcoin and Ether. Data indicates slightly higher demand from longs (buyers), but nothing that would force traders to close their positions. For instance, Luna’s positive 0.15% weekly rate equals 0.6% per month, which should not concern most futures traders.

The absence of the Tether premium in Asia and the flattish perpetual contract premiums signal a lack of demand from retail traders right as the total crypto market capitalization struggles to sustain the $1.75 trillion support.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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