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Institutional Investors Now Have Access to Staking (Kinda) | Web3 Daily

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Institutional Investors Now Have Access to Staking (Kinda) | Web3 Daily



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Want another story about institutions and ETH?

Here – have another story about institutions and ETH!

This time, we’re talking about Lido who have just launched ‘Lido Institutional,’ a B2B-focused white glove service targeted at large customers like crypto funds and asset managers who hold ETH.

Who/what is Lido?

Lido is the largest liquid staking platform which means it lets customers lock up their ETH, but also provides them with a special token – stETH – to hold, trade, use as collateral etc. while their ETH earns interest.

(Pretty neat).

According to data from Dune, Lido controls ~28.75% of all staked ETH on Ethereum.

And now they’re taking that dominant position and building on it by creating an offering specifically focused on institutions.

How’s the new offering work?

The main advantage of Lido Institutional seems to be that they’ve figure out a way to avoid the commingling of institutionally-owned stETH with stETH owned by Lido’s retail investors.

With the ETH ETFs being launched, that’s a huge unlock for institutions to get access to ETH, without literally buying ETH.

But the thing about ETH is, while historically its value does go up year-on-year, one of it’s main advantages is all of the other things you can do with it – like staking.

(Meanwhile, the ETH ETFs are not allowed to stake their ETH holdings).

So basically, Lido Institutional is a slightly more sophisticated alternative to the ETH ETFs for hedge funds to get access to ETH – plus it’s more decentralized and it almost certainly will provide a greater return (that’s the whole point of staking).

Pretty smart by Lido to ride the coattails of the explosion of ETH purchases by institutions.



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What Market Crash? The Ethereum ETFs Are BOOMING Right Now… | Web3 Daily

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What Market Crash? The Ethereum ETFs Are BOOMING Right Now… | Web3 Daily



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“I didn’t hear no bell!” — Rocky, Rocky V, 1990 Ethereum, market crash, 2024.

The ETH ETFs are coming in hotter than the milk we’re just now remembering we left in the car (ooops).

They took in more investor dollars yesterday than on their debut (with investors buying up 40,700 ETH) — totally ignoring the market implosion in the process!

Which continues to back up the theory we floated yesterday:

If the big-dogs of the traditional financial world are buying the dip, the bull run is still on.

So if all goes to plan — where to from here?

Simple: base → climb → crunch.

Base = investors continuing to buy at what they see as a bargain, creating a price base that will be hard to break down from.

Climb = as more investors try to get in at these prices, ETH will begin to recover.

Crunch = supply crunch. At a certain point, ETH’s demand will outweigh its supply, pushing Ether to new all time highs.

Buckle up folks…



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Metaverse land prices down 72% on average from highs

Metaverse land prices down 72% on average from highs


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Metaverse land prices have fallen nearly 95% from their peak values, according to a CoinGecko report.

In 2024, the cost of metaverse lands ranged between 0.08 ETH and 1.88 ETH, representing an average 72% drop from their all-time high. Over the years, the price drops compared to their peaks were 34% from 2023 and 55% from 2022.

Among the various metaverse projects, Sandbox has experienced the most notable decline. Its average floor price fell from 2.86 ETH in 2021 to 0.13 ETH in 2024, marking a 95% decrease. 

Conversely, NFT Worlds, which rebranded to TOPIA Worlds in 2023 under the larger Hytopia brand, showed relative resilience. Despite a 65% drop from peak to bottom, its floor price decline was less severe compared to others. 

Other NFT collections with significant drawdowns are NFT Worlds (-45%), Otherdeed (-85%), and Decentraland (-89%).

The report highlights an “interesting trend” in Somnium Space, an open and social virtual reality (VR) world built on the Ethereum blockchain. Its peak average floor price was observed in 2023 at 0.98 ETH, up from 0.57 ETH in 2022. 

This increase coincided with the release of the Somnium VR1, a high-end VR headset, and significant development announcements. 

Days of high prices

During the last stretch of the bull market in 2022, NFT Worlds commanded the highest prices, with an average floor price of 3.29 ETH and an all-time high of 13.5 ETH in March 2022. 

Otherdeed, from Yuga Labs’ metaverse Otherside, followed with an average price of 1.98 ETH and a peak of 5 ETH in May 2022. Sandbox and Decentraland also saw high valuations, with average floor prices of 1.91 ETH and 1.73 ETH, respectively.

The surge in prices in 2022 corresponded with record-high interest in the metaverse. Google search trends for the term ‘Metaverse’ peaked in January 2022, reflecting a 106% increase from 2021 and mirroring the heightened interest in digital real estate and Web3 technologies during the bull market.

CoinGecko’s methodology involved examining the prices of selected metaverse lands in ETH from Jan. 1, 2021, to June 25. The metaverse lands analyzed included Otherdeeds, Sandbox, Decentraland, Somnium Space, Voxels, Worldwide Webb, NFT Worlds, and Topia Worlds. 

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Could Cross Platform Development Be a Game-Changer for Game Devs?

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Could Cross Platform Development Be a Game-Changer for Game Devs?


The games industry is constantly evolving, and staying ahead means embracing the future of gaming: cross platform development. In today’s landscape, it’s not just an option – it’s essential. Reaching players on every device and platform is crucial for success. To guide you through the intricacies of cross platform game development, we’ve compiled a powerful list of tactics to elevate your game to new heights. 

Why Consider Cross-Platform Game Development? 

 

In the current busy market, many game developers are considering cross platform development for a variety of reasons. The first could be that it broadens the reach of their games by enabling access across multiple platforms, including mobile devices, consoles, and PCs, by tapping into diverse player bases. This increased accessibility enhances visibility and potential revenue streams in an increasingly competitive market. 

Secondly, cross platform development streamlines the development process by allowing the creation of a single codebase that can be deployed across various platforms. However, this does not necessarily reduce the amount of work required. Even if the codebase is the same, features need to be developed and performance optimised for each platform.

Lastly, cross platform development fosters community and social interactions among players across different platforms, enriching the gaming experience and driving player engagement and retention. 

Whatever the reason may be, here at Kwalee we are here to help. We’ve written a few ideas to consider if you are interested in cross platform game development, or looking for tips to enhance your game. 

 

Cross Platform Game Development Tips 

 

Platform-Specific Optimisation 

Platform-specific optimisation is paramount for delivering unparalleled gaming experiences. While a unified codebase promises efficiency, tailoring graphics, controls, and performance to each platform’s unique capabilities ensures an optimal gameplay experience. Leveraging platform-specific APIs and tools, developers can fine-tune their games for maximum performance and visual appeal. Whether adjusting rendering techniques for various hardware or refining control schemes to suit different input methods, optimising for each platform is essential.

 

Responsive Design for Different Screens 

Responsive design for different screens is vital for delivering an immersive and engaging game experience. With a huge amount of screen sizes and resolutions across devices, using various designs ensures that the game interface and assets adapt seamlessly to varying screen dimensions.  This is especially crucial for mobile devices, but for PC and console games, it’s primarily about ensuring that different resolutions are taken into account. This issue is largely solved for these platforms, requiring only some work to ensure all elements function properly.

 

Cross-Platform Save Data and Progression 

The integration of cross platform save data and progression holds a huge importance, particularly for server-based online games. By facilitating seamless transitions between devices, players can effortlessly pick up where they left off without fearing losing progress. Leveraging cloud-based solutions such as Google Play Games Services or Apple’s iCloud enables synchronisation of game data across platforms, ensuring continuity and convenience for players. For single-player experiences, it’s often easier to manage and save data per platform.

 

 

Performance Monitoring and Optimisation

Ensuring a smooth gaming experience demands continuous vigilance and refinement. Leveraging profiling tools (like Unity Profiler or NVIDIA Nsight) and analytics enables developers to pinpoint performance bottlenecks and optimise resource allocation effectively. More importantly, understanding the limitations of the lowest-performing platform is crucial. For instance, if a game is intended for release on the Nintendo Switch, it likely shouldn’t aim for cutting-edge rendering technologies unless it’s designed to be streamed to the Switch.

We shouldn’t also forget that regular testing across diverse devices is paramount to guaranteeing consistent performance across platforms, allowing developers to address any discrepancies promptly. By prioritising performance monitoring and optimisation, developers not only enhance the overall gaming experience but will also boost player satisfaction and retention.

 

Localised Content and Internationalisation 

Developers can tailor their games to resonate with players from various regions and cultures by translating in-game text, audio, and visual elements. Furthermore, considering cultural preferences and sensitivities during the localisation process ensures inclusivity and accessibility, fostering a welcoming environment for players worldwide. This commitment to localisation and internationalisation broadens the game’s appeal and strengthens player engagement and loyalty.

When combined with cross platform game development, the benefits of localised content and internationalisation are magnified. Cross platform games are designed to run seamlessly on multiple devices, such as PCs, consoles, and mobile devices, though mobile ports can be particularly challenging. However, this widespread accessibility ensures that players from different regions can enjoy the game on their preferred platforms. Integrating localisation into this strategy ensures a consistent and culturally relevant experience across all devices, making it easier for players to connect with the game regardless of their platform choice.

Moreover, localised content helps address the unique monetisation opportunities and regulatory requirements of different regions. For example, certain in-game features, payment methods, or advertising standards might need to be adjusted to comply with local laws or align with player expectations in specific markets. A well-localised game that runs smoothly on various platforms can quickly adapt to these regional demands, ensuring compliance and optimising revenue streams globally.

 

Basically, when the game’s core is designed with internationalisation in mind, it becomes easier to roll out updates, patches, or new content across all platforms without needing extensive rework for each region. This efficiency not only saves time and resources but also ensures that all players receive the latest features and improvements simultaneously, enhancing their overall gaming experience.

Localisation also helps attract new players, although it is not directly related to the challenges of releasing a game on multiple platforms, as almost all texts can be reused between platforms. Furthermore, a cross platform game with strong localisation can create a unified community of players from diverse backgrounds. Players can interact, compete, and collaborate with others globally, fostering a sense of inclusivity and shared experience. This vibrant and diverse player base can drive word-of-mouth marketing, as satisfied players recommend the game to friends and family, further expanding its reach and success.

 

Successful Cross-Platform Games

 

Numerous games have successfully leveraged cross platform availability to enhance their reach and create unified gaming communities. Notable examples include Fortnite, which spans PC, consoles, and mobile devices, allowing players to engage seamlessly across all platforms. Minecraft also stands out with its wide accessibility, creative possibilities, and robust modding community, which are available on almost every gaming device. Genshin Impact has captivated players globally with its stunning visuals and deep gameplay, supporting cross platform progression across PC, consoles, and mobile devices. Other successful titles like Rocket League, Call of Duty: Warzone, Apex Legends, and Among Us have built strong, diverse communities by enabling cross platform play and interaction. 

These games demonstrate the potential of cross platform development in reaching wider audiences, enhancing player engagement, and ensuring a cohesive gaming experience across different devices.

 

Could Cross-Platform Development Be a Game-Changer for Game Devs?

 

Mastering cross platform game development requires technical expertise, strategic planning, and a player-centric approach. Consider using these tactics, and you could reach a wider audience and establish a lasting presence in the competitive gaming industry. As the developer’s champion, we are always here to support game developers. Whether transforming your game today or bringing your vision to PC and console, we have the tools and expertise to help you succeed. Let’s take your game to new heights across all platforms today. 



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The Dangers of Trending News Meme Coins | Web3 Daily

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The Dangers of Trending News Meme Coins | Web3 Daily



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If you live in the US, chances are on Tuesday morning you were struck with news articles (good, bad, ugly – depending on your algorithm) about Kamala Harris picking Minnesota Governor, Tim Walz, as her running mate.

As a result, two degen-related things happened in crypto:

The ~$123M crypto pool of bets placed on Polymarket for who Harris’ running mate would be was divvied out (which was at just 4% odds of Walz winning as of Friday last week).

Tim Walz meme coins flew up in value (before crashing right back down).

For example, the one week old ‘tem walz’ Solana-based meme coin went all the way up to having a market cap of almost $1M, and then came all the way back down to a market cap of ~$250k as ‘investors’ sensed a bubble and pulled their money out.

So, what’s the moral of this story?

Firstly, crypto is crazy. Even if it doesn’t feel like real money because it’s in token form, that’s real money that’s being played with on meme coins.

Solana-based meme coins have been one of the big catalysts for the growth of the crypto industry as a whole in the past year or so, and chances are, more and more meme coins will continue to be launched about trending news.

But before you get sucked into the lure of those potential green candles, remember that putting money into ‘tem walz’ is not a long term investment strategy; so make sure you’re only ‘investing’ what you can afford to lose.

It just might end up going to zero.



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Are We Back? Or in the Eye of the Storm? | Web3 Daily

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Are We Back? Or in the Eye of the Storm? | Web3 Daily


TL;DR

After Monday’s crash, Bitcoin is up 8%, Ethereum is up 11%, and Solana is up a whopping 20% — but black swan events like this have a tendency to take weeks to recover from (not days).

Full Story

If you’ve never fallen out of a tree after your older cousin said he’d break your Nintendo 64 if you didn’t reach the top in the next 5 mins…

Lettuce explain how it works:

You rarely fall straight down.

Typically, you bounce between the branches, making flailing grabs before you’re met with the hard, unwelcoming embrace of the ground.

Same tends to go for black swan market crashes like the one we’re in now.

After Monday’s crash, Bitcoin is up 8%, Ethereum is up 11%, and Solana is up a whopping 20%.

That’s cool!

But have we hit a tree branch, or solid ground?

We’re not here to give a definitive answer, but a warning…

Cause right now you may have be experiencing some intense FOMO.

“If I had’ve bought in when everyone was panicking, I’d be way up rn! I don’t want to miss any more gains…time to take a 100x long.” — you, probably.

This is a great way to get w-r-e-c-k-e-d.

So before you ape in, remember:

Black swan events like this have a tendency to take weeks to recover (not days).

Check out all the tree branches we hit in 2020, before bottoming and grinding mostly sideways for months:

The takeaway:

If you can’t keep yourself from entering the market — the safest way to do so is by dollar cost averaging in (buy a little each week).

If the devil on your shoulder has a gun to your head, forcing you to take on leverage (borrow cash to buy more crypto), here’s how to soften downside risk:

Low leverage

Low position sizing

Stop losses tighter than the skinny jeans you wore in middle school

Alright, that’s everything — be safe out there folks!



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Is The Bull Run Over? | Web3 Daily

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Is The Bull Run Over? | Web3 Daily



TL;DR

ETH ETF daily inflows are booming, US futures contracts are up, and ARK bought $17.8M of Coinbase stock, and $11.2M of Robinhood — indicating big market players are still bullish.

Full Story

Is the bull run over?

Short answer: nah, probably not.

How’re we coming up with such deep technical analysis?

We’re watching what the big-dogs are doing (and you should too).

Here’s what’s happening:

The Ethereum ETFs recorded their second-largest daily inflows to date on Monday

US futures contracts are up (indicating the market is betting the US economy will rebound in the near future)

ARK bought $17.8M of Coinbase stock, and $11.2M of Robinhood on Monday

Add this all up and what do we see?

The big-dogs are buying the dip — which indicates the hundreds of uber-smart analysts these financial institutions have on their payroll are looking at market data, comparing it to where we are in the relevant market cycles and saying:

“I reckon we’re good. Let’s go shopping.”

(Or however MBA types tend to talk).

Point is: the big-dogs see opportunity in the market, not doom — and that’s a pretty reliable indicator we are still in a bull market.

As thanks for their un-intentional guidance, we will be placing an offering of their favorite things (a Patogonia vest, tub of Zyn, and White Claw) at the foot of their god.

In Chad’s name we pray, amen.



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1) What (just happened)? The Black Swan Crash, Explained. | Web3 Daily

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1) What (just happened)? The Black Swan Crash, Explained. | Web3 Daily



TL;DR

$4T left the global markets as investors closed their Yen carry trades, leading to a crash in stocks, commodities, and crypto — but this could be the catalyst for hard rate cuts and liquidity injections, leading to a blow off top for crypto markets in 2024.

Full Story

If you opened your trading apps yesterday morning only to be accosted by a sea of red and want to know what happened — we’ve got you.

It all started with the Japanese ‘carry trade’…here’s what that is:

When a central bank raises its interest rates, its underlying currency typically goes up in value.

(E.g. The US dollar has been gaining strength over the past 18 months as the Federal Reserve continued to raise/hold interest rates).

…on the cooler side of the pillow — if a central bank keeps its rates low, its currency stays cheap.

(E.g. Exactly what the Bank of Japan has been doing, leading to a weaker/cheaper Yen).

And herein lies the opportunity for a ‘carry trade.’

Investors take out loans in Yen (with lower interest rates / repayments) to buy other assets that are gaining value, quicker (e.g. the US dollar, stocks, commodities, etc).

It works beautifully!

…until it doesn’t.

See, the Bank of Japan (BoJ) recently raised rates from 0.1% to 0.25% (making the Yen more valuable in the process), while the US Federal Reserve is expected to start lowering rates (which will make the US dollar less valuable).

Which means those carry trades are about to become less profitable, and require higher interest repayments.

So traders are selling out and taking their profits…only problem is:

There is (or at least, was) about $4 TRILLION dollars locked up in these carry trades.

So $4T of sell pressure just hit global stock, crypto, and commodity markets…

Add that to the pre-existing uncertainty surrounding potential war in the Middle East and the results in the upcoming US federal election…

And you get yesterday’s market crash.

From Sunday till the time of this writing, Bitcoin went from a high of $61k to a low of $49.5k, Ethereum went from a high of $2.9k to a low of $2.1k, and Solana went from a high of $145 to a low of $110.

Say it with us now: “Oooft!”

“…so, we’re all doomed?” — the market rn.

Let’s take a moment to remove our fingers from the panic button, and zoom out a bit.



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Retail Investors Can Now Gain Direct Exposure to the Modern Day Gold Rush | Web3 Daily

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Retail Investors Can Now Gain Direct Exposure to the Modern Day Gold Rush | Web3 Daily



TL;DR

Thunder Funder allows retail investors to buy-in to early stage Bitcoin-related companies, while those same companies can crowd raise up to $5M in funds (all while staying compliant with regulations).

Full Story

You know the term ‘picks and shovel businesses’?

It exists because in the Californian Gold Rush of the mid-1800’s, it wasn’t the gold miners that made the greatest fortunes, but the folks providing products/services to the miners.

(E.g. Wells Fargo, which provided shipping and banking services).

Yeah, well — pick and shovel businesses are still generating massive wealth for their owners in the modern day.

See: Jeffrey Preston Bezos’ Amazon, which makes more from its internet services business than it does from its retail business (wild!).

…and we’re seeing the same thing start to take shape in the crypto space, where the sum of the services supporting crypto are producing higher returns than most cryptocurrencies themselves.

Which is why this Thunder Funder crowdfunding portal caught our eye.

Take GoFundMe, tweak it so only Bitcoin-related companies can pitch their products, and you’ll have a pretty good idea of what Thunder Funder is.

The platform allows retail investors to buy-in to early stage Bitcoin-related companies, while those same companies can crowd raise up to $5M in funds.

(All while staying compliant with regulations).

The takeaway:

Anyone/everyone can now get direct exposure to the modern day gold rush.

(Not just insiders).



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Major Recession Fears Just Hit (Here’s What’s Driving Them) | Web3 Daily

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Major Recession Fears Just Hit (Here’s What’s Driving Them) | Web3 Daily



TL;DR

Full Story

Bitcoin, Ethereum, and Solana all shed insane amounts of value last week.

Why? Bear with us as we cook for a second…

Imagine if an aircraft had a five minute delay on any steering adjustments made by the pilot…

(It’d make flying Spirit, or any Boeing airplane, that much scarier).

Weirdly enough — that’s kind of how the Federal Reserve pilots the US economy with interest rate adjustments.

Every time they tweak interest rates, it takes — wait for it…

Eighteen whole months for the effects to show in the economy.

Which means when economic data starts flashing warning signals, it’s often too late, and the Fed can’t adjust quickly enough to stem any bleeds.

Over the past year or so, the Fed has been trying to thread a needle that looks like this:

Weaken the economy enough so that we don’t enter hyperinflation…while also avoiding a recession (aka: pull off a ‘soft landing’).

Which is kinda like trying to fillet a fish with a hammer.

About a month back, we started to see signs that the economy was weakening, though only mildly — which is good if we want a soft landing.

…but over the past week, we saw signs that this economic weakening is accelerating, with data that showed payrolls were lowering while unemployment was increasing at a much faster rate than expected.

With that fear came a grueling market sell off.

BTC dumped from ~$70k to ~$57.1k, ETH took a dive from ~$3.4k to ~$2.6k, and Solana shed value from ~$193 down to ~$130.

Alright, now you know.



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