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Meli Games Releases Its Official Public Beta – StreetInsider.com

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StreetInsider.com Top Tickers, 11/8/2021
Singapore, Singapore–(Newsfile Corp. – November 7, 2021) – Meli Games has released their official public beta app for Android users with gradual release for users on IOS, PC and other platforms to come soon. This move sees Meli kick off their journey to become the next Axie Infinity on the Binance Smart Chain.
GameFi (Gamified Finance), the new and hot buzzword in the cryptospace is set to blow up just like DeFi did in the summer of last year. Right from the start with the Cryptokitties craze, NFT games have started to offer real value with play-to-earn models. GameFi as they are now known as, combines the worlds of gaming and decentralized finance (DeFi) to give players the opportunities to earn as they play.
With the runaway success achieved by the popular crypto game, Axie Infinity, the future of GameFi seems bright indeed. With a lot more GameFi projects in the works, more newer and exciting innovations are to be expected from the influx of new players in the space.
Introducing MELI
MELI is a blockchain battle game on the Binance Smart Chain combining a variety of gameplays such as battling, hatching, ranking, landholding etc. The game is playable using NFTs with individual characteristics known as Melioras. Players lead their Melioras in different states of PvP or PvE gameplay to increase their ranking, earn rewards, or even combine two NFT characters to create a unique NFT character with special abilities.
Our team has a diverse background from Blockchain, Gaming and Design. We aim to bring the same excitement that can only be found in your favourite games into GameFi. We believe that making money is a core component of a P2E game, but fun is the most important value of any video game. We know we can deliver a solid GameFi experience and have the support of the industry!” says Mr. Alain Garner, MELI Games Chief Communications Officer.
The Meli Metaverse
The MELI ecosystem plans to bring the best GameFi experience to its growing community in the following ways:
Unique gaming experience
MELI is a game set in the future where Gynoids (characters) exist. Players can be a part of any of three camps (Intelligent Matrix, Force Alliance, and Free Will) to compete over control of a precious energy source, MELI.
The Gynoids, lands, items are all NFT assets that can be bought and sold. Through playing the PvP or PvE modes, you can earn $Meli and $PCE tokens to hatch new and special Gynoid NFTs and make them stronger.
The game has three modes: PvP, PvE and the daily quest mode. Players need a team of 3 Melioras for each battle. Also, there are weekly and monthly leaderboard prizes for the PvP battles.
Valuable NFTs Collectibles
There are 50,000 Meliora NFTs on the marketplace. Each Meliora can be upgraded and leveled up from level 0 to 5 by combining two NFTs at the same levels and some $PCE tokens t create a higher NFT.
Dual Token Ecosystem
The MELI metaverse is run by two tokens, $MELI and $PCE. The $MELI token is the governance token while the $PCE is the utility token heavily used in the game. The $PCE is uncapped and mainly used for upgrading and hatching Melioras in-game.
The $MELI token has a total supply of 1 billion, but with only 30% (300 million) in circulation at the early stages. As players increase, more $MELI will be made available to be consumed for more hatching and leveling. The consumed tokens go into a trust fund in preparation for a future NASDAQ listing.
Due to the similarities between Axie and MELI, and the unexpected increased game difficulties experienced by Axie players as they progress, the MELI metaverse will only continue to grow. MELI’s game graphics is of the highest quality in the space and is not too difficult to play.
About MELI
MELI is a battle game utilising playable NFTs with individual characteristics, referred to in-game as a Meliora. Players have several options when obtaining a Meloria. They can battle PvP or PvE to earn rewards, increase ranking or combine two NFTs to create a new, unique character NFT with special abilities.
Named after the Latin word Meliora, which means “better”, MELI is a blockchain game that combines gameplay such as battling or player ranking, breeding, and farming. The goal of the Meli.Games team is to build a Metaverse where anyone can earn tokens through skilled gameplay and contributions to the ecosystem in various game titles.
All art assets and Meli gynoid data can be easily accessed by 3rd parties, allowing community developers to build their own tools and experiences in the Meli metaverse.
Media Details
Official web: meli.games
Telegram group: http://t.me/meli_games
Telegram channel: http://t.me/MeliGames_News
Twitter: https://twitter.com/0xmeligames
Medium: https://medium.com/@meligames
Discord: https://discord.gg/2sBxDTb7HG
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102353

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Tyler Hobbs' Fidenza NFT Project Gets $1M Pump Over 48 hours – CoinDesk

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DOJ Asks Congress for Tools to Limit NFT Money-Laundering Risk – PYMNTS.com

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Down at the very bottom of the crypto crime report the Justice Department issued last week was a request that could make it a lot harder to buy and sell NFTs.
Citing examples of criminals using the sale of the popular nonfungible tokens that hold art, video, music and collectibles to launder funds, the Justice Department asked Congress to define some of all NFTs as “value that substitutes for currency” under the Bank Secrecy Act (BSA).
Doing so, it said in “The Role of Law Enforcement in Detecting, Investigating, and Prosecuting Criminal Activity Related to Digital Assets,” would “make clear that its key [anti-money-laundering (AML) and countering the financing of terror (CFT)] provisions — including the obligations to have customer identification programs and report suspicious transactions to regulators — apply to NFT platforms, including online auction houses and digital art galleries.”
See also: DOJ Seeks to Double Jail Time for Money Transmission Crimes
The impetus, the department said, is the “explosive growth in the demand and corresponding markets for NFTs, perhaps most notably in the area of digital art.”
Substantial Risk
This “presents substantial money-laundering risks,” it said, citing a February Treasury Department study on money laundering in the broader art market.
“NFTs can be used to conduct self-laundering, a sequence in which criminals purchase an NFT with illicit funds and then resell to a purchaser who pays for it with clean funds unconnected to a prior crime,” that report noted.
It also found that in most cases, “digital assets that are unique, rather than interchangeable, and that are used in practice as collectibles rather than as payment or investment instruments … are generally not considered to be virtual assets under [international regulations].”
The “nonfungible” part of NFT means that each is unique and cannot substitute for any other, as opposed to cryptocurrencies like bitcoin which all have the same uses and value.
NFT marketplaces “may take the view that this definition [of a ‘value that substitutes for currency’] does not apply to their activities — and that they are thus not subject to the BSA’s anti money-laundering and anti-terrorism laws, the department said.
Justice is asking Congress to amend the BSA “to make clear that its key AML/CFT provisions — including the obligations to have customer identification programs and report suspicious transactions to regulators — apply to NFT platforms, including online auction houses and digital art galleries.”
Already There
Redefining NFTs as “value that substitutes for currency” would allow the Treasury Department’s Financial Crimes Enforcement Unit (FinCEN) to “potentially seek to regulate such activity under its money transmission regime,” a trio of lawyers at Skadden, Arps, Slate, Meagher & Flom wrote in an April blog post.
That, according to Jamie Boucher, Eytan Fisch and Javier Urbina, would require NFT marketplaces to register as money services businesses (MSB) with FinCEN.
Some types of NFTs — notably those used to fractionalize tangible assets like physical artworks and real estate, but also other valuable art or collectible tokens — are likely securities, the Securities and Exchange Commission (SEC) has said.
See more: How Did NFTs Become SEC’s Newest Crypto Target?
In FinCEN’s view, the trio noted, those can be repurposed to fit the definition of “value that substitutes for currency” and thus may already require MSB licenses.
 
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FTX Talking With Investors for $1B Fundraising at $32 Billion Valuation – NFTgators

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Quick take:
Although Binance maintains its number one spot in terms of crypto transaction volume, FTX is catching up quick after rising to third, behind Coinbase. This could change soon given the steps FTX is taking in web3.
According to reports, Sam Bankman-Fried’s company is seeking $1 billion in a new round of funding at a valuation of about $32 billion. That values FTX twice the value of Coinbase— whose market cap stands at just over $14 billion, and at least 7-fold Binance’s most recent valuation of $4.5 billion.
And there is a good reason for the disparity in market share (volume-wise) and overall valuation. FTX is more than just a crypto exchange platform. 
The company has expanded its ecosystem to include stock trading, NFTs, crypto lending services and more, all forming significant operational synergies for the rapidly growing web3 company.
It explains why investors are placing such value on FTX. According to sources close to the $1 billion fundraising talks, the figure could change by the time the round is closed, CNBC reported, citing people who did not want to be named.
FTX has been one of the most active investors in the web3 space during the crypto winter. The company is in the process of acquiring the crypto lending platform Blockfi for a reported amount of $240 million.
Last year, it acquired crypto derivatives platform LedgerX allowing it to offer derivatives trading alongside traditional crypto exchange services.
Earlier this year, the company purchased Good Luck Games, the developer of the card battle game Storybook Brawl for an undisclosed amount. The acquisition added another perspective to FTX’s business pouncing on the rapidly growing web3 gaming sector.
The company also recently announced a partnership with online game retailer Gamestop to onboard the gaming community to web3.
In July, Bankman-Fried refuted claims that FTX was planning to buy retail stock brokerage platform Robinhood after Bloomberg published a report suggesting discussions were underway.
News about the new fundraising come hot on the heels of the company’s $900 million raise announced in July. FTX also raised $420 million in October 2021.
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