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Japanese esports company to pay its players in XRP

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SBI esports, a subsidiary of Japanese financial services conglomerate SBI Group, announced that its esports players would receive salaries in Ripple (XRP) going forward as part of a sponsorship deal with venture capital firm, VC Trade.

According to the official announcement, player salaries will be paid via crypto instead of fiat in order to strengthen the company’s presence among esports players who also use digital currencies.

SBI esports, which is a long-time Ripple partner, said that this sponsorship deal is a way to diversify its portfolio within the blockchain industry. Their goal is to “create and nurture a healthy market based on customer-centricity, improve prices, and expand liquidity.”

As of press time, XRP holds a market capitalization of $10,827,898,158, making it the fourth largest crypto in the category of market cap, according to CoinMarketCap.

Back in 2019, Ripple’s developer ecosystem, Project Xpring, and the game-centric blockchain platform, Forte, jointly established a $100 million fund to support game developers.

Mac Ocampo, head of growth at blockchain entertainment studio Virtually Human Studio, previously lamented to Cointelegraph that “not all gamers are crypto traders, and not all crypto traders are gamers” — something he felt was a major challenge faced by the gaming industry.



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Enjin joins Crypto Climate Accord, goes carbon negative

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Enjin, a blockchain gaming and nonfungible token platform, has stepped up to decarbonize its footprint by joining the Crypto Climate Accord, a move that adds further credibility to the industry’s growing environmental mandate. 

The Crypto Climate Accord is backed by 20 firms from the blockchain, fin-tech and greentech industries. Inspired by the 195-signatory Paris Climate Agreement, the Accord was established in April to address the “large and growing energy consumption of cryptocurrency and blockchain, and the climate impact of their energy use.”

Enjin claims that its JumpNet blockchain has already achieved carbon-negative status nine years ahead of schedule. In March, the company said it planned to enable carbon-neutral NFTs by 2030.

“The creation of new forms of technology should never come at the cost of destroying our environment,” said Enjin CEO Maxim Blagov. “Carbon neutrality for JumpNet is an important step toward our vision of a sustainable NFT ecosystem for Enjin and our partners.”

In addition to decarbonizing newly created tokens, Enjin’s environmental sustainability plan includes supporting the tokenization of the physical economy and decarbonizing existing digital assets. Other measures include upgrading to carbon-neutral nodes and incentivizing carbon reduction technologies.

Environmental concerns have virtually hijacked Bitcoin’s narrative this year, with the likes of Elon Musk casting shade over carbon-intensive mining. The Tesla CEO briefly embraced Bitcoin earlier this year before deciding that BTC payments are no longer acceptable due to environmental risks. Now, he states that his firm is willing to accept payments of the virtual currency, provided there’s more evidence for sustainable mining.

Related: Elon Musk lays out when Tesla will begin accepting Bitcoin payments

Other environmental sustainability efforts within crypto are also underway. As Cointelegraph reported, Tyler and Cameron Winklevoss’ Gemini exchange has purchased carbon credits to reduce Bitcoin’s carbon footprint. Separately, U.S. miner Stronghold Digital Miner recently announced that it raised $105 million to divert waste coal to cryptocurrency mining.