Connect with us

Metaverse

Why Metaverse Cryptocurrency Axie Infinity Is Soaring Today – The Motley Fool

Published

on

Returns as of 02/08/2022
Returns as of 02/08/2022
Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
Axie Infinity (CRYPTO:AXS) is a wildly popular metaverse-style blockchain game. One of its primary cryptocurrencies, the AXS token, is soaring higher on Saturday afternoon, up 12.7% over the last 24 hours as of 2:00 p.m. ET.
Image source: Getty Images.
Volatility is a hallmark of the crypto market, and prices can swing wildly without any real provocation. But in this case, many cryptocurrencies appear to be building on the stock market’s momentum. The S&P 500 and the Nasdaq Composite both finished last week in the green, marking their best weekly performance so far in 2022. And Axie Infinity appears to be riding that wave higher.
Additionally, some of Axie’s momentum may be due to certain changes in gameplay announced on Thursday. Specifically, the daily quest and adventure mode will be retired, meaning gamers can only earn the Ethereum-based Smooth Love Potion (CRYPTO:SLP) tokens through arena combat in the Axie Infinity game.
Axie Infinity gamers can collect, train, and battle digital creatures known as Axies, each of which have different attributes that make them more or less valuable. To that end, each Axie — along with other in-game items like land — are represented as non-fungible tokens (NFTs) on the Ethereum blockchain, and gamers can buy and sell those NFTs through the Axie Infinity Marketplace, which itself ranks as the third most popular NFT marketplace in the blockchain industry, according to DappRadar.
By eliminating daily quests and adventures from gameplay, the developer team has effectively reduced the creation of SLP tokens by 56%. That’s important because SLP tokens are used to breed Axies, a feature that allows players to combine traits from existing Axies to create new (and potentially more valuable) digital creatures. Put another way, SLP tokens will now be harder to come by, which should make Axies more valuable.
The metaverse is a popular buzzword among investors, both in the stock market and the crypto market. And Axie has been a beneficiary of that trend. While the AXS token is still down 66% from its all-time high, it is up 45,000% since hitting a low in November 2020.
Looking ahead, assuming Axie Infinity continues to gain traction with gamers and crypto enthusiasts, demand for the AXS token — which is used not only for breeding, but also in staking, governance, and (eventually) marketplace payments — could continue to rise, pushing its price higher.

Discounted offers are only available to new members. Stock Advisor will renew at the then current list price. Stock Advisor list price is $199 per year.
Stock Advisor launched in February of 2002. Returns as of 02/08/2022.
Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Making the world smarter, happier, and richer.

Market data powered by Xignite.

source

Metaverse

BlackRock digs further into crypto with metaverse ETF – FinanceFeeds

Published

on

BlackRock digs further into crypto with metaverse ETF  FinanceFeeds
source

Continue Reading

Metaverse

Money Laundering via Metaverse, DeFi, NFTs Targeted by EU Lawmakers’ Latest Draft – CoinDesk

Published

on

source

Continue Reading

Metaverse

Lamina1 Presents Inaugural “Open Metaverse Conference” Connecting the Worlds of Blockchain and the Metaverse for a Next-Gen Internet – Business Wire

Published

on

Featuring a keynote from co-founder and futurist Neal Stephenson, the first-of-its-kind event aims to empower creators and coders to build the Open Metaverse together
LOS ANGELES–(BUSINESS WIRE)–Lamina1, a Layer 1 blockchain optimized for the Open Metaverse, today announced its role as founding sponsor of the Open Metaverse Conference, a first-of-its-kind industry event bringing together the worlds of the Metaverse and Web3 to build a more open and immersive Internet. The two-day conference will take place from February 8-9, 2023 in Los Angeles, California, and will gather experts and builders spanning Metaverse experiences, Web3, and entertainment.

Co-founded by Neal Stephenson, renowned futurist and science fiction author who originally coined the term “Metaverse,” and cryptocurrency pioneer Peter Vessenes, founder of the first VC-backed Bitcoin company, Lamina1 will provide the infrastructure to empower rapid expansion of the Open Metaverse. As the founding sponsor of the Open Metaverse Conference, Lamina1 will provide a forum for critical conversations around identity, privacy and interoperability, while exploring how audience engagement, creative storytelling, and the technicalities of blockchain can work hand-in-hand to make the vision of the Open Metaverse a reality.
The Open Metaverse Conference will feature keynotes from renowned technologists and storytellers who are pioneering visions for the next era of the Internet. Attendees will hear from Lamina1 co-founders Neal Stephenson and Peter Vessenes, as well as Philip Rosedale, founder of virtual world Second Life (Linden Lab) and co-founder of virtual platform High Fidelity, John Gaeta, Oscar-winning VFX pioneer (The Matrix) and CCO of character persona company Inworld AI, Cathy Hackl, Metaverse and Web3 strategist and founder of design consultancy Journey, and other industry crossover leaders to be announced. Keynote sessions will be complemented by diverse speakers and side events spanning games, art, entertainment, and commerce. To connect these key areas of culture with the technology that enables them, the Open Metaverse Conference will also facilitate technological deep dives for attendees from leaders in Web3, immersive computing, and technology standards groups. Presenting partners include the Metaverse Standards Forum, the Open Metaverse Interoperability Group, and the Open Metaverse Alliance for Web3 (OMA3), all organizations fostering interoperability.
“We are at a moment in time when developers, creatives, and producers can finally design the seamless and persistent experiences we’ve dreamed about,” said Jamil Moledina, Vice President of Games Partnerships and Media at Lamina1. “The Open Metaverse Conference will serve as the big tent for everyone who’s thinking about creating never-before-possible experiences that allow creators and consumers to enter unique virtual worlds on a level playing field.”
“OMA3 is pleased to collaborate with Lamina1 and the Open Metaverse Conference in promoting interoperability,” said Robby Yung, CEO of Animoca Brands. “OMA3 looks forward to developing talk tracks to encourage the creation of a more open and immersive internet.”
The conference will encourage interdisciplinary dialogue through debates, pitch sessions, roundtable discussions, and networking opportunities to help drive new ideas and connections.
“We felt a real sense of urgency to facilitate discussion with our colleagues and creators across the spectrum,” said Rebecca Barkin, President of Lamina1. “We know that the Open Metaverse will be built collaboratively and with a set of shared values, and we’re happy to provide this forum to address the needs of the community and to solve big problems together.”
For more information on the Open Metaverse Conference, visit www.openmetaverseconf.com.
About Open Metaverse Conference 
The Open Metaverse Conference (OMC) is an industry-first event presented by Lamina1 focused on bringing together the Metaverse and blockchain technology. The conference gathers key stakeholders spanning developers, creatives, producers, product owners, and executives to ask and address big questions around the development of a truly Open Metaverse that leverages open-source, collaborative principles and blockchain decentralization.
About Lamina1 
Lamina1 is a Layer1 blockchain optimized for the Open Metaverse. The brainchild of legendary futurist Neal Stephenson (who first conceptualized the term “Metaverse” in his 1992 best-selling novel Snow Crash) and Peter Vessenes, a foundational leader in the crypto space from the early days of Bitcoin – Lamina1 is on a mission to deliver the blockchain technology, interoperating tools, and decentralized services that will establish it as the preferred destination for creators building a more immersive Internet. It is the first provably carbon-negative blockchain in the world.
K.C. Maas
Wachsman
kc.maas@wachsman.com
K.C. Maas
Wachsman
kc.maas@wachsman.com

source

Continue Reading

Trending

Copyright © Diaily Meta News