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How to Buy Ethereum in 2024?

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October 18, 2024

Many crypto traders are exploring Ethereum, and for good reason. With its innovative technology and strong community, Ethereum is becoming a popular choice for both beginners and seasoned investors. You might be asking yourself, “How do I buy Ethereum?” or “Is buying ETH worth it?”

In this guide, we’ll break down everything you need to know about how to buy Ethereum. We’ll cover the best exchanges to use, guide you through the buying process, and share tips on how to keep your Ethereum investment secure.

Key Takeaways:

Ethereum functions as a decentralized platform that allows developers to create and implement smart contracts and decentralized applications (dApps). This is facilitated by its native cryptocurrency, Ether (ETH).To buy Ethereum, you need to choose a reliable cryptocurrency exchange, create an account, deposit funds like USDT or fiat currency, and execute a trade for ETH.After buying Ethereum, it’s safe to store it in a non-custodial crypto wallet, such as a hardware wallet like Ledger or Trezor, or a software wallet like Trust Wallet or MetaMask.

What is Ethereum and Why Should You Buy It?

First, let’s discuss about Ethereum. It is more than just another cryptocurrency like Bitcoin. It’s a platform where developers can create apps, but in a way that doesn’t rely on one central authority. It works on blockchain technology, which makes everything secure and open. The actual currency used on this platform is called Ether (ETH), and you can use it to make payments, send money, or even invest.

So, why should you consider buying Ethereum? First, its technology is groundbreaking. Ethereum isn’t just for transactions. It’s the foundation for a new type of internet where apps are more secure and not controlled by big companies. By buying Ethereum, you’re supporting this shift towards a decentralized digital future.

Another reason to think about buying Ethereum is the potential for financial gain. Over time, its value has increased, and early investors have seen strong returns. According to CMC data, Ethereum’s price has been skyrocketing since its launch and has given over +617,905.35% ROI to early investors. Also, Ethereum is a big player in decentralized finance or DeFi. This allows people to lend, borrow, and trade without needing a traditional bank. As DeFi grows, so does the demand for Ethereum, which could push its value even higher.

Best Exchanges to Buy Ethereum (ETH)

When buying Ethereum, picking the right crypto exchange can make a huge difference in your experience. You want a platform that’s easy to use, secure, and offers good value for your money. Some crypto exchanges have lower fees, while others may offer extra features like ETH staking or margin trading.

Here’s a quick look at 3 popular cryptocurrency exchanges where you can purchase Ethereum safely.

OKX: OKX is a popular trading platform for buying Ethereum, with over 50 million users around the world. It’s known for its low fees, starting at just 0.08%, which is great if you’re trading regularly. They also have a wide selection of cryptocurrencies, more than 350 in fact, so you have plenty of options. OKX offers a ton of features like Ethereum staking, where you can earn passive income on your ETH holdings.MEXC: This might not be as well-known as some of the bigger exchanges, but it’s trusted by over 10 million users across 170 countries. One of its key selling points is its no-KYC Ethereum trading. You can buy or sell ETH with complete privacy. The exchange also offers zero-fee crypto trading for new users.Binance: Binance is the go-to centralized exchange for millions of people – over 230 million, actually. It’s the largest exchange in the world by trading volume. It is known for its low transaction fees, which start at 0.10%, and you can even get discounts if you use its native BNB token. They support over 400 cryptocurrencies, so if you want more than just Ethereum, there are plenty of options. Binance is packed with features, including staking, lending, futures trading, margin trading, ETH options trading, and even a learning hub for beginners.

How to Buy Ethereum: Step-by-Step Guide

Step 1: Choose a Cryptocurrency Exchange

The first thing you need to do when buying ETH is to choose a cryptocurrency exchange. These are trading platforms where you can buy, sell, and trade cryptocurrencies. Popular exchanges include OKX, Binance, Bybit, KuCoin, and MEXC. However, for this guide, we’re going to use OKX, which is a reliable and user-friendly platform. Also, if you have any security concerns, you can read our guide on “Is OKX safe” to know more.

Note: If you are a U.S. trader, you can buy Ethereum on U.S.-licensed exchanges like Coinbase or Crypto.com.

OK, to get started, head over to the OKX website, and let’s move on to the next step.

Step 2: Create an Account and Verify Identity

Once you’re on the OKX website, the first thing you’ll need to do is create an account. You’ll see a “Sign Up” button in the top right corner of the homepage. Click that, and it will ask you for basic details like your email or phone number, plus a password. You can also use our OKX referral code “12554491”, which offers a sign-up bonus of up to 10,000 USDT.

After you fill that out, OKX will send you a confirmation link via email or a code by text. Click the link or enter the code to verify your account. You’re almost there, but to really get going, OKX will ask you to complete a KYC (Know Your Customer) verification. This just means you’ll need to upload a photo ID, like your passport or driver’s license. It might feel like a hassle, but it’s for security and is standard across most cryptocurrency exchanges.

Once that’s done, OKX will take a few minutes or hours to verify your identity. And just like that, your account is ready.

Step 3: Deposit Funds into Your Account

Now that your account is set up, it’s time to add some funds so you can buy Ethereum. Go to the top of the screen and click “Assets” and then “Deposit”. Here, OKX gives you several ways to fund your account, including bank transfers, debit/credit cards, or even crypto deposits if you already have some Bitcoin or another cryptocurrency.

Let’s say you’re using a debit or credit card – it’s probably the simplest method if you’re new. Select “Credit/Debit Card”, enter how much you want to deposit, and follow the instructions to provide your card details. Just be mindful of any fees depending on your payment method.

Once your funds are deposited, they should show up in your account within a few minutes. Now you’re ready to buy Ethereum!

Deposit Funds into Your Account

Step 4: Buy Ethereum (ETH)

Go to the OKX dashboard and find the “Trade” button at the top. Clicking it will take you to the “Spot Trading” page.

In the drop-down menu, select ETH/USDT trading pair. Then, choose how much you want to buy. You can either enter a specific amount in USD or the number of Ethereum you want to purchase. OKX will show you the current price and how much ETH you’ll receive.

Double-check the details, and when you’re ready, click “Buy ETH”. OKX will process your order, and within minutes, your Ethereum will appear in your account.

Buy Ethereum (ETH)

Step 5: Withdraw and Store Your Ethereum Safely

Now that you’ve bought Ethereum, it’s crucial to keep it safe. While leaving it on the exchange is convenient, it’s not the safest option for long-term storage. Exchanges can sometimes be targets for hackers, so it’s better to move your ETH to a secure Ethereum wallet.

OKX offers its own wallet, OKX Wallet, which is a decent option if you don’t have a third-party crypto wallet yet. To transfer your Ethereum, head to the “Assets” section on your OKX dashboard, paste your ETH wallet address, and click “Withdraw”. You’ll need to enter the address of your wallet, whether it’s the OKX Wallet or another one, like Trust Wallet or a hardware wallet like Ledger Nano X for maximum security.

Once the transfer is complete, your Ethereum will be safely stored, and you’ll have peace of mind knowing it’s secure. You can also sell Ethereum right inside your wallet.

Withdraw and Store Your Ethereum Safely

Buying Ethereum with a Credit or Debit Card on DEX

If you prefer the decentralized route when buying Ethereum, you can now do so using a decentralized exchange (DEX) like Uniswap. Unlike centralized exchanges, DEXs give you more control over your funds, allowing you to trade directly from your wallet.

With Uniswap, you can even buy Ethereum with a credit or debit card thanks to its partnership with MoonPay, which acts as the bridge between traditional finance and DeFi. Here’s how you can do it.

First, you need to head over to the Uniswap Web App. Unlike other platforms where you sign up for an account, on Uniswap, you simply connect your wallet.After your wallet is connected, click on the wallet dropdown, where you’ll find the option to “Buy Crypto”. From here, you can enter the amount of Ethereum you’d like to purchase. MoonPay supports over 160 countries, so most users should have no trouble buying crypto with their card. The transaction process is fast, and within minutes, you’ll have your Ethereum directly in your wallet, ready to use.

In terms of supported payment methods, credit and debit cards are the most common, though bank account transfers are also available in certain regions like the U.S., Brazil, the UK, and most of Europe through SEPA.

Note: You need a MoonPay account to complete the purchase of Ethereum on Uniswap using a credit or debit card.

Conclusion

In conclusion, knowing how to buy Ethereum is essential for anyone looking to invest in cryptocurrencies. Ethereum stands out not just as a digital currency but as a platform for decentralized applications. With its increasing popularity, the potential for financial gains is significant.

By choosing a trusted cryptocurrency exchange like OKX or Binance and following the straightforward steps outlined in this guide, you can easily make your first purchase. Just remember to keep your Ethereum safe by moving it to a secure wallet afterward.

FAQs

What is the safest way to buy Ethereum?

The safest way to buy Ethereum is by sticking to well-known and trusted crypto exchanges like OKX, Binance, Bybit, and KuCoin. You want to look for platforms that have strong security measures, like two-factor authentication (2FA), and ones that keep most of their funds in cold storage (offline storage).

Also, make sure the exchange follows regulations—it’s a good sign that they take security seriously. After you buy Ethereum, it’s best to transfer it to your own wallet, especially a hardware wallet like Ledger or Trezor.

Can I buy less than 1 Ethereum?

Yes, you can definitely buy less than 1 Ethereum. You don’t need to spend thousands of dollars to get started. Ethereum is divisible, which means you can buy just a small fraction of a coin. Most exchanges let you invest as little as $10 or even less if you’re just testing the crypto market as a beginner.

How long does it take to buy Ethereum?

It usually doesn’t take long (only a few minutes) for an Ethereum purchase, especially if you’re using a credit or debit card. In most cases, the purchase goes through within minutes once your payment is confirmed.

If you’re using a bank transfer, though, it might take a few hours or even a couple of days, depending on how fast your bank processes it. Once everything’s set, you’ll see the Ethereum in your account pretty quickly. But if it’s your first time buying, the platform might take a little longer to verify your identity, so it’s good to be patient.

Is it safe to buy Ethereum?

Yes, buying Ethereum is safe, and one of the reasons is that Ethereum is a well-established and popular cryptocurrency. It’s not some random pump-and-dump scheme—Ethereum has been around since 2015 and has built a strong reputation in the crypto world. In fact, it has a market cap of over 315.9 billion USD, making it the second-largest cryptocurrency after Bitcoin.

The fact that it’s widely used for decentralized applications and smart contracts adds to its credibility. Of course, you still need to buy from reputable exchanges and take precautions like using secure wallets, but Ethereum itself is trusted and the best crypto to buy right now.

Moonray Expands Universe with PS5 Launch and Mobile Game in 2025

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October 18, 2024

Moonray, the Ethereum-based arena combat game with blockchain features and intense multiplayer battles, is expanding in 2025. Moonray Studios has announced they will be launching the game on PS5 and a Mobile Autobattler to reach a wider audience and grow the gaming ecosystem.

PS5 Launch

Moonray Studios has received approval from Sony to bring Moonray to the PS5. This marks the game’s first entry into the console market, offering players a chance to experience its immersive “post-human” world and fast-paced combat on a new platform. While an exact release date hasn’t been announced, the team plans to share early access details in the coming months.

However, due to Sony’s current policies, the PS5 version will not have the Web3 features that are core to the game on PC. So, there are no NFTs and in-game tokens on the console for now. But Moonray Studios believes the core of the game (engaging gameplay and competitive modes) will still resonate with console players.

The Moonray Universe expands once more. Will you answer the call?

The gods have whispered, and the stars themselves have aligned. Moonray — the epic battle of gods, warriors, and forgotten worlds is descending upon the realm of the PlayStation 5 in 2025. pic.twitter.com/DbirROgsV0

— Moonray.game (@moonraygame) October 17, 2024

Even though the PS5 version won’t have Web3 features, it can still introduce players to the innovative work of Web3 game developers. Players will experience unique designs and gameplay mechanics influenced by Web3 development. This might pique their interest in blockchain gaming. And of course, Sony’s blockchain policies may change in the future.

Since the alpha release on the Epic Games Store in July 2024, Moonray has built a community on PC, especially among competitive players and esports enthusiasts. The game has various modes (1v1 duels, team battles, deathmatches) for casual players and competitive players. Expanding to PS5 will grow this community even more.

Mobile Autobattler Q1 2025

In addition to the PS5 launch, Moonray Studios will be releasing a mobile autobattler in Q1 2025. This will be a companion game to the main game and will target players who prefer to play on the go. The autobattler will have the same futuristic setting and immersive gameplay, easy to pick up but hard to master.

The mobile game will be connected to the existing Moonray ecosystem so players can use the same digital assets and $MNRY token across PC, console and mobile. This cross-platform compatibility will allow players to unlock special content and earn rewards.

Players who are not familiar with blockchain can play the game without engaging with these features and still enjoy the game. For those who are interested, integrating digital assets and tokens adds more depth to the game.

Moonray Beyond Gaming

Moonray Studios is also expanding the Moonray universe beyond gaming. They have released two graphic novels, Mother’s Skin and Echoes of Ascension, which go deeper into the game’s lore. Available in over 4,000 bookstores across North America and the UK (including Midtown Comics and Barnes & Noble) these novels add to the game’s story and more content for fans.

They have also partnered with Reel FX to develop an animated series based on the game and graphic novels. This is part of their overall strategy to grow the brand and reach fans across different media.

A Game for All Players

Moonray is unique, with a balance of accessible gameplay and deep strategy. Whether you’re a casual player looking for quick fun or a competitive player looking for a new challenge, Moonray has something for everyone. The community-organized tournaments and various modes have established the game in the competitive gaming scene.

Even without blockchain features on PS5, Moonray Studios is confident the core game will appeal to console players. They will still integrate Web3 where possible and hope platform policies will evolve to allow for these features in the future.

2025 is shaping up to be a big year for Moonray Studios with the multi-platform launch. The PS5 and mobile releases are just the beginning of getting Moonray to a broader audience. Players will be able to experience the game’s world across different platforms, console, PC and mobile.

Editor’s note: Written with the assistance of AI – Edited and fact-checked by Jason Newey.

Jason Newey is a seasoned journalist specializing in NFTs, the Metaverse, and Web3 technologies. With a background in digital media and blockchain technology, he adeptly translates complex concepts into engaging, informative articles.

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Christie’s Introduces NFT Art Auction to Support Refugees Through UNHCR – Cryptoflies News

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October 18, 2024

Christie’s Introduces NFT Art Auction to Support Refugees Through UNHCR – Cryptoflies News

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Christie’s is organizing a new non-fungible token (NFT) art auction called “Bridging Worlds: Digital Art Beyond Borders,” set to run from October 23 to 30. This auction, in collaboration with Web3 bank Sygnum, will support the UN Refugee Agency (UNHCR), which aids those displaced by conflict and persecution.

The theme of the auction is inspired by the 60th Biennale’s theme, “Stranieri Ovunque” — “Foreigners Everywhere.” It will feature digital artworks from multiple prominent artists, each interpreting the concept of borders — both literal and metaphorical.

One highlight of the event will be the inclusion of Vinnie Hager’s artwork, “Handle With Care.” This piece was selected from over 200 submissions in a contest led by Erick Calderon, founder of Art Blocks and the Chromie Squiggle project. The contest invited artists to reinterpret the Chromie Squiggle, an iconic digital art piece, valued between 4 and 6 ETH (approximately $10,000 to $15,000).

Snowfro, Chromie Squiggle #9755

A portion of the auction proceeds will benefit UNHCR. Cristina Davies, Executive Director, Switzerland for UNHCR, stated, “Through this initiative, digital artists are not only challenging the concept of borders but also helping to bridge the gap between those forced to flee and the global community.”

This auction reinforces Christie’s ongoing involvement in the Web3 and NFT art space. The auction house has been actively hosting similar auctions since it launched its NFT platform, Christie’s 3.0, in 2022, allowing fine art auctions to take place entirely on the blockchain.

Earlier this year, in May, Christie’s held another NFT auction, “Beyond the Screen,” featuring CryptoPunks and Bitcoin-themed artworks. The event followed the success of its first Bitcoin-based NFT auction, “Ordinal Maxi Biz (OMB),” which raised over $730,000.

According to a 2022 report, Christie’s sold 87 NFT lots that year, generating $5.9 million. Artists like Diana Sinclair, Mad Dog Jones, and Fewocious were among those featured in these sales.

Liam Payne: Remembering a Pop Star, Futurist, and Web3 Pioneer Gone Too Soon | NFT CULTURE | NFT News | Web3 Culture | NFTs & Crypto Art

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October 17, 2024

Liam Payne: Remembering a Pop Star, Futurist, and Web3 Pioneer Gone Too Soon | NFT CULTURE | NFT News | Web3 Culture | NFTs & Crypto Art

The music world has been left heartbroken by the sudden passing of Liam Payne, the former One Direction star, who tragically died on October 16, 2024, at just 31 years old. Known to many as a pop sensation, Payne was also making strides in the Web3 space and had become an early adopter of blockchain technology, collaborating on innovative NFT projects.

Liam Payne was one of the first mainstream celebrities to explore the potential of Web3, a testament to his forward-thinking mindset. His involvement with The Lonely Bug NFT collection, Gary Vaynerchuk’s first Web3 collaboration (predating VeeFriends), marked the start of his journey as a digital innovator. This venture allowed Payne to connect with a new generation of fans through NFTs and blockchain technology, positioning him as a futurist within the space. He embraced the potential of this technology to reshape entertainment and fan engagement, a sign of the exciting possibilities he was beginning to explore.

Beyond his ventures into blockchain, Payne was also working alongside talented musicians like Zedd and Silly Gabe, as he sought to push the boundaries of both music and technology. His partnership with Fan3 further cemented his commitment to Web3 and NFTs, collaborating on projects designed to revolutionize how fans interacted with artists. Sadly, with his untimely passing, the world will never see the full scope of the innovations he had planned.

However, Liam Payne’s life wasn’t without its challenges. Throughout his career, he was open about his battles with addiction and mental health struggles, shedding light on the darker side of fame. These personal demons, while painful, also highlighted his resilience and his desire to transform his hardships into art and forward-thinking initiatives.

As fans and the broader music and tech communities mourn his loss, we remember Liam Payne not only for his musical legacy but also for his willingness to embrace new ideas and his potential to make a lasting impact in the world of Web3. While the future collaborations and projects he had in the works may never be realized, his pioneering spirit in the NFT space will not be forgotten.

The Lonely Bug NFT Collection

The Lonely Bug Collection was a groundbreaking NFT project that exemplified Liam Payne’s visionary embrace of the Web3 space. Created during the COVID-19 lockdown in collaboration with Zedd and artist Sillygabe, the collection brought together several of the most influential figures in the crypto world, including Gary Vee, Christian Angermayer, Steven Bartlett, Paris Hilton, and Mike Novogratz, along with Nifty Gateway founders Duncan and Griffin Cock Foster. This project wasn’t just about digital art—it merged creativity, culture, and commerce in a pioneering effort to push the boundaries of NFTs.

At the heart of the Lonely Bug was a desire to capture the emotions of isolation that many felt during the pandemic, with the concept reflecting the vulnerability and childlike hopefulness that comes from being confined to one’s own space. The collaboration symbolized a return to innocence, encouraging people to reconnect with their inner child, reminding us not to lose the pure happiness and hope that children embody. The NFTs within this collection represented these themes, accompanied by real-world experiences that elevated the project beyond the digital sphere.

TL;DR: Liam Payne, former One Direction member, passed away at the age of 31 on October 16, 2024. Known for his music career, Payne was also an early adopter of Web3, collaborating on projects like The Lonely Bug NFT collection and partnering with Fan3 to explore new forms of fan interaction. Though he faced personal struggles with addiction and mental health, Payne was positioning himself as a futurist. His passing leaves many unrealized innovations in both music and technology.

Top Free Play to Earn Games for Crypto Rewards in 2024

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October 17, 2024

Top Free Play to Earn Games for Crypto Rewards in 2024

Play to earn (P2E) games are changing the game industry by letting players earn cryptocurrency or digital assets as they play. Unlike traditional games, where rewards are just in-game items or achievements, P2E games offer real-world value through blockchain-based rewards, including cryptocurrencies and NFTs. This has made gameplay a source of income and blurred the line between gaming and earning.

Crypto Games

Crypto games use blockchain technology which is known for its transparency, security and decentralization. Each player’s activity and transactions are recorded on the blockchain so the game is fair and assets are truly owned by the players. Earning rewards in crypto games often involves completing quests, getting high scores or competing in tournaments. The amount of earnings usually depends on skill level, dedication and involvement in the game.

One of the key features that makes crypto games unique is the concept of true ownership. Unlike traditional games where in-game items are just licensed to the players, blockchain based games allows players to own their items outright. These items can be traded, sold or used across different platforms, gives more flexibility and value.

Top Play to Earn Games

Here are some of the top P2E games in 2024, each with different gameplay and earning potential:

Axie Infinity

Axie Infinity is a pioneer in P2E, a game where players collect, breed and battle creatures called Axies. Built on Ethereum, players earn Smooth Love Potions (SLP) as rewards which can be traded or used in the game. The game’s economy is NFT based, each Axie is a tradable asset.

The Sandbox

The Sandbox is a virtual world where players can create, own and monetize their gaming experiences. It’s known for its virtual real estate where landowners can build custom games and experiences. The game uses SAND token for in-game purchases and trading, NFTs for land and accessories.

Decentraland

Similar to The Sandbox, Decentraland is a decentralized virtual world where players can buy, sell and develop parcels of land. Powered by the MANA token, Decentraland combines gaming, social interaction and virtual real estate into one experience. Players can earn cryptocurrency by creating and selling virtual items, hosting events or just trading land.

Splinterlands

Splinterlands is a digital collectible card game where players build card decks and compete in battles. Each card is an NFT, players can trade or sell their cards for real world value. The game’s reward system includes Dark Energy Crystals (DEC) which can be earned by winning battles and used to purchase new cards or other items.

Illuvium

An upcoming game on the Ethereum blockchain, Illuvium combines RPG elements with strategic gameplay. Players capture and train creatures called Illuvials which can then be used to battle or traded as NFTs. The blockchain integration makes the game more engaging and rewarding.

Big Time

Big Time is a multiplayer action RPG where players travel through time to fight enemies and collect rare items. The game is unique in its NFT based loot, players can truly own and trade the items they collect. With an experienced team behind it, Big Time aims to bring AAA quality gaming to P2E.

Game Genres and Platforms

Play to earn games span across different genres, for different tastes. Players can find P2E games in role-playing (RPGs), strategy, collectible card games and even virtual real estate simulators. Each genre has its own style of gameplay and rewards, so players can find something that fits their interests.

The platform choice is also diverse, many P2E games are available on PC, mobile and web based interfaces. So players can play regardless of their gaming setup.

Getting Started with Play to Earn Games

Getting started with P2E games is usually a few steps:

Create an Account: Players need to sign up on the game’s platform. This often involves linking a digital wallet compatible with the game’s blockchain.

Acquire the Game’s Native Token: Many P2E games require players to hold or purchase the game’s cryptocurrency to unlock certain features or play the game.

Start Earning Rewards: Players can then complete tasks, reach milestones or compete against others to earn rewards which may include cryptocurrency or NFTs.

NFTs in Play to Earn Games

Non-fungible tokens (NFTs) are a big part of many P2E games. They represent unique digital assets such as characters, items or virtual real estate. NFTs are stored on the blockchain which ensures their authenticity and ownership. Since they are digital assets with real world value, players can buy, sell and trade NFTs in various marketplaces, within the game or on external platforms.

Safety and Security

While P2E games are generally safe due to blockchain’s transparency and immutability, players should still be careful:

Use Strong Passwords and Two-Factor Authentication: Players should always use strong passwords and enable two-factor authentication.

Be Careful of Scams: Players should be aware of phishing attacks and fraudulent schemes especially in games where trading is involved.

Regional Trends in Play to Earn Adoption

Play to earn (P2E) games popularity varies across regions due to cultural, economic and regulatory factors. In Southeast Asia, P2E games have become a source of income, especially during economic downturns, many players see it as a way to supplement or replace traditional jobs. The region’s youth culture and widespread use of mobile devices make it a perfect market for accessible P2E games. In Latin America, P2E gaming is a path to financial inclusion amidst economic instability and high inflation, players use cryptocurrency to counteract devaluing local currencies and access global markets.

In Western countries, adoption is hindered by regulatory uncertainty and changing gaming habits. While some players are cautious of the financial aspect of P2E games, new games are slowly improving game quality, appealing to those who value storytelling and high quality experiences. Local regulations also plays a part, Japan is embracing blockchain and growing the industry while China is imposing stricter rules on cryptocurrency trading limiting P2E gaming.

Crypto Gaming Future

The future of P2E gaming is looking good, more games and players are coming. New platforms and games are emerging every now and then, offering new ways to earn cryptocurrency and interact with digital assets. As blockchain technology advances, P2E games will continue to grow, with more features and better gaming experiences.

Conclusion

Play to earn games has opened a new frontier in gaming where players can earn real world rewards through their gaming. By using blockchain and NFTs, these games offers tangible benefits, disrupting the traditional gaming model. With many genres and platforms to choose from, there’s a P2E game for everyone, whether you want to battle monsters, trade digital cards or build virtual worlds.

Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Owen Skelton.

Owen Skelton is an experienced journalist and editor with a passion for delivering insightful and engaging content. As Editor-in-Chief, he leads a talented team of writers and editors to create compelling stories that inform and inspire.

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Gordon Ramsay’s Hell’s Kitchen Metaverse Introduces Two New Gaming Experiences – Cryptoflies News

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October 16, 2024

Gordon Ramsay’s Hell’s Kitchen Metaverse Introduces Two New Gaming Experiences – Cryptoflies News

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The metaverse version of Gordon Ramsay’s reality show Hell’s Kitchen, originally launched in The Sandbox in 2022, has introduced two new gaming experiences: “Fork Off” and “The Chef’s Table.”

The first game, Fork Off, is an arcade-style experience. Players navigate the game board, collecting ingredients while dodging various obstacles. The gameplay is fast-paced and designed to challenge players’ reflexes and decision-making skills. As they progress, players can power up their avatars to increase speed and collect more coins for extra points.

The Chef’s Table, the second new experience, offers a more interactive, storytelling approach. Players step into Gordon Ramsay’s iconic kitchen, where they take part in culinary challenges and creative tests. They can explore the kitchen, interact with team members, and engage in quests like solving puzzles or finding hidden ingredients.

These new additions are part of The Sandbox’s Alpha Season 4, which offers over 100 unique experiences and 50 hours of gameplay. Players participating in these events can complete quests and earn rewards, with a total prize pool of over $2.5 million in SAND tokens.

Since their launch in early October — Fork Off on October 9 and The Chef’s Table on October 11 — both experiences have gained popularity. Fork Off has attracted over 34,000 plays, while The Chef’s Table has seen more than 45,000 plays.

Hell’s Kitchen entered the metaverse in August 2022, when The Sandbox partnered with ITV Studios to introduce the cooking-themed game. It was the first cooking-related experience to be featured on the platform, allowing fans of the show to engage in a virtual version of the competition.

Hell’s Kitchen debuted as a reality cooking show in 2005, hosted by celebrity chef Gordon Ramsay. The show features young chefs competing in various kitchen challenges to win the competition. The metaverse version adds a new layer of interactivity to the franchise, blending gaming with the culinary world.

Hell’s Kitchen is not the only reality show to make its way into the metaverse. Earlier in May, The Voice also expanded into The Sandbox, introducing “The Voice Coach Battle.” This gamified experience lets players act as celebrity coaches, influence the competition’s outcome, and earn exclusive rewards.

What is XAI? The Next Big Thing in Blockchain-Powered Games

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October 15, 2024

What is XAI? The Next Big Thing in Blockchain-Powered Games

Xai is making waves in the world of blockchain gaming by offering a Layer-3 network built on Arbitrum, a solution for Ethereum’s scalability issues. In this article, we’ll explore how Xai is transforming gaming with its low fees, fast transactions, and innovative ecosystem.

From partnerships with major gaming platforms to unique titles like Planet-X and The Lost Glitches, Xai is the blockchain for devs and gamers. Curious about it works, latest gaming partnerships or games on Xai? We’ve got you covered.

How Xai Works

Xai was developed by Offchain Labs, the same team behind Arbitrum, a trusted scaling solutions on Ethereum. By building on the technology and security of Arbitrum, Xai is addressing core issues that have limited blockchain gaming, including high transaction fees and slow processing times.

Xai operates as a Layer-3 blockchain, combining the security of Ethereum with the scalability of Arbitrum. This setup allows the network to process transactions faster and at lower costs, aiming to ensure that gamers don’t experience the frustrating delays and high fees that plague other blockchain platforms.

Security and Scalability Features

Integrating with Arbitrum allows Xai to achieve a very high level of security while also addressing the blockchain scalability problem. Thanks to Xai’s roll-up protocol and its clever use of Arbitrum’s own roll-up technology, it can process an enormous number of transactions quickly and cheaply compared to other blockchain solutions.

Security inherited from Ethereum and its scalability makes the Xai platform perfect for games and developers who want to create large-scale interactive experiences. Layer-3 technology allows for the development of modern games and the support of their infrastructure, from fast, in-game transactions to sophisticated blockchain economies. With the Xai platform, developers can concentrate on what they do best—creating great user experiences and solid economic models.

Xai Token and Tokenomics

The network’s economic system revolves around the Xai token. It powers the network by allowing it to do what it needs to be a functioning network and covers all the transaction fees needed. It also allows project members to participate in the project’s governance.

Every transaction, whether it’s the gas fee for using the underlying protocol or the sale of an asset from one of the network’s many games, is conducted using Xai. And while gas fees are a reality in this world, Xai holders can also earn rewards by staking their tokens.

Staking Xai tokens helps secure the network and gives token holders the chance to earn rewards. When users stake their tokens, they enhance the stability and security of Xai’s ecosystem and receive a portion of the network’s network rewards proportionate to their contribution to the network.

Xai Ecosystem and Partnerships

Through key alliances with big players in the gaming and blockchain sectors, Xai’s ecosystem is quickly growing. An alliance formed with SuperVerse serves to illustrate how Xai is emerging as a groundbreaking layer-3 solution developed specifically for AAA gaming. In that partnership, SuperVerse and Xai are pushing the envelope on blockchain gaming to provide a decentralized network where anyone can run a node, earn rewards, and take part in governance.

Furthermore, Xai has partnered with Aethir to launch a $10 million ecosystem grant program aimed at supporting and onboarding AI-powered AAA games and gaming studios. The effort will supply studios with the infrastructure and necessary funding to realize their visions in the Xai ecosystem. Working with Aethir, Xai has its sights set on onboarding millions of gamers to its blockchain gaming platform.

Gaming Experiences on the Xai Blockchain

Planet-X

Planet-X is a mobile extraction shooter, blending classic shooting with a treasure hunter twist. Players scavenge for loot, looking for treasure chests filled with value. The chests include common chests filled with in-game currency or X-Tokens, and rare chests offer both X-Tokens and real-world prizes, ranging from iPhones and MacBooks to Tesla Cybertrucks.

With Xai integrated into the core, Planet-X gives players a unique chance to take away real, tangible rewards from their virtual accomplishments, bringing its in-game economy to a whole new level.

The Lost Glitches

The trading card game with elements of RPG, The Lost Glitches, takes place in the cyberpunk universe of Deep Sky Network. Participants collect and enhance cards that represent “Glitches,” individuals who have uploaded their consciousness into the network.

A new Commander system gives the card game a fresh feel; players choose leads who lend unique skills to implement and guide strategies. Available on the Epic Games Store, The Lost Glitches offers a compelling mix of lore and strategic depth that will draw in TCG and blockchain gaming devotees alike.

Xai Vanguard: Genesis

Xai Vanguard: Genesis is all about having fun and being fully immersed in the Xai Gaming universe. Each chapter of this adventure reveals more of the Xai universe and gives you quests that connect you to the community and reward you for your in-game efforts.

Phase 02 of Xai Vanguard: Genesis is live now on Galxe Quest. As you complete quests, players earn points on the Genesis leaderboard and those who stand out will get Legendary and Vanguard status and get exclusive roles and opportunities within the Xai ecosystem.

Future of Xai Gaming

Xai aspires to be the guiding light for traditional gamers venturing into the Web3 space. It promises a scalable, secure, and friendly platform that should be the basis for blockchain gaming’s next evolutionary step. In Xai’s ecosystem, the gamer is at the heart of the network’s design. Indeed, as Xai sees it, the future of Web3 revolves around gaming—partially because gaming is a massive and mostly untapped market for blockchain technology.

Overall, with initiatives like the $10 million ecosystem grant program and partnerships with gaming studios and blockchain providers, Xai is well-positioned to transform the gaming landscape. The goal is to create a seamless gaming experience where in-game economies and real-world rewards intersect, offering players new incentives to engage with blockchain-based games.

Editor’s note: Written with the assistance of AI – Edited and fact-checked by Jason Newey.

Jason Newey is a seasoned journalist specializing in NFTs, the Metaverse, and Web3 technologies. With a background in digital media and blockchain technology, he adeptly translates complex concepts into engaging, informative articles.

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Are NFTs Making a Return to Auction Houses?

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October 14, 2024

Are NFTs Making a Return to Auction Houses?

Blockchain in Physical Art Auctions

On October 2, 2024, Christie’s New York hosted An Eye Towards the Real: Photographs from the Collection of Ambassador Trevor Traina.

Whilst his auction focused on fine art photography, it introduced a notable shift in ownership tracking. Christie’s partnered with Kresus, a web3 wallet provider, to offer digital certificates of ownership for each photograph sold. These certificates were stored on the blockchain, creating an immutable record of ownership.

This move highlights how blockchain is being used to address long-standing concerns in the art market related to provenance and authenticity. By providing secure and transparent ownership records, blockchain offers a new way to ensure that collectors can verify the history of their purchases.

Ascend by Ryan Koopmans and Alice Wexell — Source: Christie’s

Bitcoin Ordinals in Digital Art

In another auction on October 10, 2024, Christie’s London featured Ascend, a digital artwork inscribed on Bitcoin’s Ordinals protocol.

This sale marked a significant moment for digital art on the Bitcoin blockchain, as it was the first time an Ordinals-based artwork was sold at a live auction. Created by artists Ryan Koopmans and Alice Wexell, the piece fetched £44,100.

The Ordinals protocol, used to inscribe digital assets on Bitcoin, is being seen as a new tool for digital artists to create more sophisticated and larger works. The sale of Ascend reflects a growing acceptance of blockchain-powered digital art in mainstream auctions.

Why are these events significant?

These two auctions illustrate how blockchain is expanding beyond digital art and NFTs, offering solutions for both digital and traditional art markets.

Christie’s use of blockchain-backed certificates for physical artworks and its auction of a Bitcoin Ordinals-inscribed piece show how the technology is evolving to meet the needs of a broader spectrum of collectors.

As blockchain continues to be incorporated into the art world, it could reshape the way provenance, ownership, and authenticity are managed. Christie’s recent auctions suggest that NFTs and blockchain-backed records may play an increasingly important role in the future of art auctions.

BAYC NFT Sells for $1.43M Amid Broader Market Challenges – Cryptoflies News

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October 14, 2024

BAYC NFT Sells for .43M Amid Broader Market Challenges – Cryptoflies News

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The non-fungible token (NFT) market has been experiencing significant declines, but some recent sales keep hopes alive. Two days ago, a Bored Ape Yacht Club (BAYC) NFT was sold for over $1.43 million.

According to data from CryptoSlam, the BAYC NFT #7940 was sold for 588 ETH, worth $1,433,582 at the time of the transaction. The NFT was first minted three years ago, though its original price has not been disclosed.

This sale offers some optimism to the NFT community, but it comes in the midst of a larger decline. The BAYC collection, which once had NFTs valued between $150,000 and over $200,000 at its peak in 2021 and 2022, has seen a significant drop in value. Today, similar NFTs are selling for $20,000 to $40,000 — a fraction of their previous prices.

The downturn isn’t limited to BAYC. Other NFT collections and projects have also been hit hard by the market’s struggles. Sales across all major NFT blockchains — including Ethereum, Bitcoin, and Solana — have taken significant hits. Over the past month, sales on these blockchains have fallen by 46%, 26%, and 39% respectively, compared to the previous 30 days.

This decline has been ongoing for more than a year, and legal uncertainties have only added to the market’s challenges. In August, OpenSea received a Wells notice from the U.S. Securities and Exchange Commission (SEC), which is scrutinizing NFTs traded on the marketplace as potential securities.

Nonetheless, the SEC has already taken action against several projects in the space.

In August 2023, the SEC fined Los Angeles-based media company Impact Theory $6.1 million for offering unregistered NFT securities known as “Founder’s Keys.” In September, the Stoner Cats NFT project was also fined $1 million for selling unregistered securities. More recently, Dapper Labs settled a lawsuit over its NBA Top Shot NFTs, agreeing to pay $4 million.

These legal pressures have led many companies, even large players, to distance themselves from the NFT space. Starbucks ended its NFT rewards program, Odyssey, in March 2024, and GameStop closed its NFT marketplace in January 2024 after two years of operation.