Connect with us

Cryptocurrency

Alpaca City Marries Defi and Gaming with Auction of Presidential NFTs

Published

on


The Alpaca City game launched only a month ago but has already seen a lot of user interest. More than 100 users have purchased alpacas on the Open Sea marketplace.

Blockchain-powered game Alpaca City has announced the addition of two rare NFT tokens to its defi-based platform. Called Albiden and Trumpaca, the tokens will be sold in parallel auction in what essentially amounts to an in-game prediction market.

Prediction Market within a Game 

Alpaca City is a recently launched blockchain project that attempts to combine gaming and defi in one application. In its latest move, the platform has brought a real-world election outcome prediction market into its game universe.

Prediction markets are financial arrangements in which users can bet on the outcome of a clearly defined event by purchasing shares in one of the outcomes. Decentralizing prediction markets is a longstanding pursuit in the blockchain space. Ethereum-based protocols Augur and Gnosis pioneered it, and, more recently, cryptocurrency exchanges like Poloniex and FTX have joined the party by creating U.S. election outcome tokens such as TRUMPWIN and TRUMPLOSE. 

Alpaca City has taken this process a step further by adding non-fungible token (NFT) representations of Trump and Biden to its list of unique virtual alpacas. The Albiden and Trumpaca tokens are currently being auctioned on the Open Sea marketplace at the starting price of 0.1 ETH. However, the added twist is that the winner of the auction for the tokenized version of the U.S. election winner will be reimbursed their bid price minus the fees, and they will also receive the amount paid by the winner of the second auction. 

Achieving a Fairer Yield Farming with NFTs 

The playful introduction of prediction market tokens chimes well with the core idea behind the Alpaca City project. At a high level, it can be thought of as Crypto Kitties plus defi. Like their feline counterparts, digital alpacas have randomized genes that determine their traits. 

However, in addition to determining the game characters’ appearance, the traits in Alpaca City influence the profitability of farming the application’s native ALPA token through their so-called “energy”. Breeding alpacas enable users to produce offspring with higher energy levels, and thus, higher profitability. However, the ultimate earnings will depend not just on the amount of the ALPA token allocated to the users’ alpacas but also on their “breeding” skills. In addition to this, breeding requires payment of fees in ALPA, whose amounts increase with each successive generation of alpacas bred.

In this approach to yield farming, Alpaca City has likely been inspired by defi projects like MEME and Chad Finance that also turned to NFTs to streamline their incentive structures and make protocol staking less dominated by crypto whales and less subject to pump and dumps. 

The Alpaca City game launched only a month ago but has already seen a lot of user interest. More than 100 users have purchased alpacas on the Open Sea marketplace, with an average price of 0.2 ETH and a maximum at 4.3 ETH. The project’s foray into election prediction markets will further raise its profile, while gamifying the outcome of real-world events.

next Altcoin News, Blockchain News, Cryptocurrency news, News

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.



Source link

Cryptocurrency

How Market is Shaping Up

Published

on

By


With the 2024 halving still about 1198 days, the stakes seem higher, perhaps because of the volatility of the trading market in 2021.

No sooner will a person start talking about the crypto world before the Bitcoin halving is mentioned. It is a major event with a significant impact on cryptocurrencies generally – and has been from the onset. The idea, factored into the design of the crypto asset by Satoshi Nakamoto, helps manage the inflation of the asset.

Unlike Ethereum, only about twenty-one million BTCs can be mined based on the design algorithm. Interestingly, estimates suggest that 98% of this will have been mined by 2030. Thus, after every 210,000 blocks, the reduction in the number of new Bitcoins that can be mined per block is triggered. Consequently, the amount of rewards earned by miners is reduced.

So far, the halvings have been greeted with significant media attention. This is particularly true of the months that lead up to the halving. From a price of $2.55 before its first halving in November 2012, BTC rose to about $1037 a year after. A similar trend continued after the second halving in July 2016, with BTC rising to $2525 exactly a year after.

Despite the coronavirus pandemic, the third halving happened in May 2020 with the price of BTC at $8600 and six months later, the price was over $15,420. By and large, the market has run exactly as some have predicted with prices falling just before the reductions and then rising to new heights after the halving is completed.

Bitcoin Enthusiasts Remain Excited about Halving

The reduction in the Bitcoin supply has always been greeted with excitement and speculation. The last halving was watched online by 7000 people on Bitcoin Magazine’s live stream. This was even as CoinMetrics co-founder Nic Carter, Messari CEO Ryan Selkis and Kraken content producer Pete Rizzo, celebrated the halving.

With the 2024 halving still about 1198 days and 5 hours away at the time of writing according to CoinMarketCap, the stakes seem higher, perhaps because of the volatility of the trading market in 2021, but the excitement is no lesser.

Against the current trend, many experts remain optimistic that it will an uptrend. Analyst PlanB expects the price of BTC to soar to $288,000. Senior commodity strategist at Bloomberg Intelligence, Mike McGlone, also predicts the market will correct for a bullish trend. Billionaire Tim Draper has also stuck to his guns about the direction the market is headed.

It’s safe to say that the jury is still out on whether this upcoming halving. The question in the mouth of many Bitcoin investors and speculators is: “Will it follow the type of growth in previous halving?”

next Bitcoin News, Blockchain News, Cryptocurrency news, News

An experienced writer and Fintech enthusiast, passionate about helping people take charge of, scale and secure their finances. Has ample experience creating content across a host of niche. When not writing, he spends his time reading, researching or teaching.



Source link

Continue Reading

Cryptocurrency

Hollywood Actress Mila Kunis to Launch NFT Animation ‘Stoner Cats’

Published

on

By


Mila Kunis was recently seen commenting how the blockchain domain is empowering and needs more exploration to seek better results.

Following the current trend in crypto marketing, Mila Kunis is all set to launch stoner cats- an animated web series where people will buy NFT tickets as tokens to watch the show. The proceedings collected via NFT will be utilized to produce more episodes of the web series.

The actress further highlighted how the ongoing pandemic situation made her curious about the growing crypto market and compelled her to dive deep into the sources to know more about the Bitcoin agreements and daily transactions.

Mila Kunis to Launch NFT Tokens as Tickets to Her Web Series

The actress famous for her roles in “The 70s Show” and Family Guy had made an appearance in the Conan O’Brien Show where she announced how the web series Stoner Cat will be making use of Crypto devised NFT as access tokens to buy tickets. The funds collected through these tokens will later be used to produce more episodes for the show.

Kunis also clarified that the time during the quarantine made her research more about cryptocurrency and its related aspects. The show primarily will use blockchain technology to make people aware of how crypto can be used in day-to-day proceedings.

The project will center around five house cats who repeatedly save their owner from impending mishaps. Kunis also stated how the concept of the show has taken inspiration from the CryptoKitties which were first released in 2017 and were quite impressionistic NFTs to have ever been invented.

Mila Kunis Partners with Cryptokitties and CryptoPoops Founders

Mila Kunis in an endeavor to deliver the NFT services backed tokens had partnered with leading brands like CryptoKitties and CryptoPoops Founders Mack Flavelle and Jonathan Howard. Kunis also described how through these tokens, she intends to deliver the best possible content in the form of entertainment and fun.

The price of the tokens is yet to be determined, however, the prices of NFTs popular among celebrities had been interpreted in millions. According to Kunis, the show is set to premiere in July.

next Altcoin News, Blockchain News, Cryptocurrency news, News

Juhi Mirza is an archaeological major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.



Source link

Continue Reading

Cryptocurrency

Tanzania’s First Female President Wants the Country to Go Crypto

Published

on

By



Samia Suluhu Hassan, the president of Tanzania, is striving to embrace cryptocurrency with open arms. This move follows that of El Salvador adopting Bitcoin as legal tender. 

No doubt the World Bank will not be happy with yet another developing nation jumping on crypto. However, when large swathes of your population is unable to take advantage of the world’s technology boom, any way of jumping in seems like a good idea. While Tanzania doesn’t want to adopt Bitcoin as currency right away, President Hassan directed the Bank of Tanzania to prepare for crypto to come to the country, saying they should be ‘ready.’ 

At the same time, actual cryptocurrency traders in Tanzania remain bearish on the president’s desire for Tanzania to go crypto. Their experience has taught them that there is nothing like experience.

Education is the key


They’re right. Cryptocurrency education should be the prime focus, and many believe that it should come from the country’s central economic authority. Especially when the nation has such a young population, it’s easy to see why the government is on board.


One challenge President Hassan faces in Tanzania is overall crypto acceptance. Much of this relies on education and bipartisan support in the nation. One important note is that President Hassan took power after the late former President John Magafuli died from heart complications on March 21, 2021. 

It is unlikely that former president Magafuli would have been as open to adopting crypto, citing his notoriously hard political stances. So far, President Hassan has not mentioned anything regarding environmental concerns. Developed nations are saying the same thing, but most of them are focusing on creating their own digital fiat coins.

In a nation primarily focused on agriculture through overwhelming dependence  and is classified as a “lower-middle income economy. In 1985, the nation began transitioning from a socialist-based command economy to a market economy. After this overhaul, Tanzania’s GDP increased in 2014 by a whopping 1/3 to $41.33 billion. 

If the country’s desire to become economically viable in the modern geopolitical landscape continues, then adopting crypto makes sense. However, just like El Salvador, which has a notoriously low internet connectivity rate, Tanzania faces similar socio-economic issues. A plan to adopt crypto en masse in the nation would have profound reprocussions, and no doubt many people would be left out of the loop while a select few see the most gains. 

Conclusion

As more developing nations realize the potential from cryptocurrencies such as Bitcoin, the push to get crypto exchanges and services will elevate the crypto world. Only time will tell developing nations going crypto will have adverse effects. 

While the World Bank might be scared of cryptcurrency’s decentral nature, the United Nations is not. The international body believes that researching blockchain is a step in the right direction. What kind of support would Tanzania receive from the UN on this?

That’s a good reason to watch this story closely.

If anything, a little bit of short-term economic pain might yield massive economic gains for places like Tanzania over the next several decades. Crypto has a high barrier to entry for anyone. It doesn’t matter if you’re a country, a company or an individual. 

If You Liked This Article Click To Share





Source link

Continue Reading

Trending