SLP is an in-game currency used within the Axie Infinity ecosystem, a play-to-earn blockchain game developed by Sky Mavis. Players earn SLP by participating in various game modes, such as quests, arena battles, and adventure mode. SLP has gained ...

Smooth Love Potion (SLP) Crypto Price Prediction 2023-2031

VOV.VN - The annual revenue of the Vietnamese gaming industry has exceeded US$500 million, ranking fifth in Southeast Asia with great potential ahead for the sector to grow further in the time to come,

Game industry’s annual revenue surpasses US$500 million

Against all odds, GameFi has survived the crypto winter. While token prices may be down across the board as compared to 2021 record-breaking highs, all major GameFi projects are in the same boat with equally low averages.

Top 5 GameFi Tokens AXS, SAND, IMX, DEP & OAS to Watch #BUIDL

The annual revenue of Vietnam’s game industry has exceeded 500 million USD, ranking fifth in Southeast Asia, and huge potential remains for this industry to grow further, heard the Vietnam Gamemaker Conference on.

Game industry holds chances to become valuable export sector: conference

Edward Magele/CC BY 3.0 When sun-seeking vacations in the eastern Mediterranean became popular among Europe’s elite in the mid-20th century, stylish resorts with sky-scraping hotels sprung up to meet the demand. Varosha, a tourist suburb of Famagusta on ...

An Eerie Look Inside The World’s Biggest Abandoned Beach Town

As Hong Kong kicks off its annual FinTech Week conference, which marks one year since the city announced a policy shift with the intent of becoming a global cryptocurrency hub, big industry players have increasingly been focusing their messaging on a broader Web3 beyond just financialisation.

At Hong Kong Web3 events, industry players look past recent crypto scandals to promote blockchain for everything

The ministry launched the program after North Korea stole some US$620 million worth of cryptocurrency last year by hacking into Axie Infinity, a token-based online video game developed by Vietnamese company Sky Mavis. The incident has raised serious ...

Foreign ministry holds seminar for ASEAN countries against N.K. cyberthreats

The foreign ministry said Friday it has invited a delegation of five Association of Southeast Asian Nations (ASEAN) countries to a seminar program designed to help them better deal with North Korea's evolving illegal cyber activities.

The 200-metre mixed-use podium tower at once connects with Shekou’s latest commercial developments. Prince Plaza: The Shekou gateway linking Nanshan mountains and Shenzhen bay. architecture, Arup, Bauke Albada,

Prince Plaza: The Shekou gateway linking Nanshan mountains and Shenzhen bay

Global Sky Limited, a private security company, is set to revolutionize data referencing with the launch of its Genescis App at a

Global Sky revolutionalises data referencing, launches Genescis App

Sky Mavis

sky-mavis

What is a console, anyway? Most would say it’s a platform that publishes games and unites gamer communities. Well, by that definition, gaming sidechains like Ronin are digital consoles, sharing plenty in common with hardware cousins like Xbox. Think about it: both count premier gaming titles, curate centralized ecosystems and wield distribution and decision-making power. But, web3 gaming platforms go one step further to offer much-needed stickiness in asset ownership, personalized identities, and vibrant community economies. This is an emerging gaming sector that moves fast and breaks things. But, right now, these “consoles” are sparking a renaissance in how games are published, played, and sustained. The blockchain is the console As publisher and platform, Ronin shares more in common with a traditional gaming console than you might think. For example, Microsoft and Sky Mavis operate their respective “console” as centralized gaming ecosystems, orchestrating communities and economies around their protocols/platforms. Even their onboarding methods are similar. Ronin, the private gaming sidechain, is driven by flagship games that introduce players to the ecosystem. Axie Infinity served this first-party role for the network—attracting early users and developers just as Halo (made by Microsoft-owned Bungie) did for Xbox and Counter-Strike: Global Offensive (made by Valve) did for Steam. This model of launching premiere first-party titles fuels network effects by inviting and incentivizing more peripheral games and participants to join the growing ecosystem. Then, the community can thrive. Gaming needs web3’s stickiness Community is a big part of why console fanboys exist. The games matter, of course, but users often find their home by interacting with others. Something like Xbox LIVE makes this possible with universal usernames and profile stats. In turn, “you” can better express yourself. Web3 and gaming leaders like Immutable, Avalanche, and CARV take this connective tissue of community to a whole new level. For example, NFT standards like ERC-7231 link multiple gamertags to one profile—creating an “identity of identities” that helps players tell their story throughout the metaverse. Moreover, these blockchain-based protocols provide an unprecedented level of data control by allowing players to fully own and encrypt their information directly onchain. Gaming chains excel at building the ecosystem—the ultimate aspiration of consoles. They enable the seamless transfer of assets between games, nurture user loyalty, and foster distinct communities. The synergy and interconnectedness of these blockchain gaming environments surpass anything we’ve seen in conventional gaming, laying the groundwork for experiences that are not just more immersive but also more player-centric. The appeal is simple on both sides of the industry equation: web3 gamers enjoy real stakes in player-driven markets and gamemakers tap into new value streams. A lifeline for an industry at a crossroads These are big pluses for a gaming industry at a crossroads. Mobile game revenue, which constitutes nearly 50% of the global gaming market, is down for the second consecutive year. Meanwhile, as I recently wrote, user acquisition costs head in the other direction. Understandably, gaming wants to harness web3’s demographics (users with stronger spending power, high project loyalty, and experience with complex games) and conversion capabilities (improved ability to guide users through in-depth, in-game conversions with incentives and token expectations) in shaping tomorrow. Additionally, gaming must be eyeing these new revenue streams with envy. Most recently, for example, Telegram showed that even platforms can become consoles via blockchain integration. As one of the world’s biggest chat platforms with almost 1B users, Telegram officially endorsed TON as the app’s “official web3 infrastructure”. Mini-apps inside the platform boomed with play-to-earn games leveraging TON to engage and reward players. The successes speak for themselves – Notcoin is worth more than $1B, Hamster Kombat is one of the fastest-growing web3 apps and BANANA hit 10M users in just over a month. This integration between protocol and platform once again shows the power of uniting major user bases with incentive-aligned games – and who’s to say what’s the limit or where this goes next? Digital consoles and their various iterations promise to define the gaming landscape, ushering in an era where data, ownership, and community are at the core of every experience. Watch this space. What is a console, anyway? Most would say it’s a platform that publishes games and unites gamer communities. Well, by that definition, gaming sidechains like Ronin are digital consoles, sharing plenty in common with hardware cousins like Xbox. Think about it: both count premier gaming titles, curate centralized ecosystems and wield distribution and decision-making power. But, web3 gaming platforms go one step further to offer much-needed stickiness in asset ownership, personalized identities, and vibrant community economies. This is an emerging gaming sector that moves fast and breaks things. But, right now, these “consoles” are sparking a renaissance in how games are published, played, and sustained. The blockchain is the console As publisher and platform, Ronin shares more in common with a traditional gaming console than you might think. For example, Microsoft and Sky Mavis operate their respective “console” as centralized gaming ecosystems, orchestrating communities and economies around their protocols/platforms. Even their onboarding methods are similar. Ronin, the private gaming sidechain, is driven by flagship games that introduce players to the ecosystem. Axie Infinity served this first-party role for the network—attracting early users and developers just as Halo (made by Microsoft-owned Bungie) did for Xbox and Counter-Strike: Global Offensive (made by Valve) did for Steam. This model of launching premiere first-party titles fuels network effects by inviting and incentivizing more peripheral games and participants to join the growing ecosystem. Then, the community can thrive. Gaming needs web3’s stickiness Community is a big part of why console fanboys exist. The games matter, of course, but users often find their home by interacting with others. Something like Xbox LIVE makes this possible with universal usernames and profile stats. In turn, “you” can better express yourself. Web3 and gaming leaders like Immutable, Avalanche, and CARV take this connective tissue of community to a whole new level. For example, NFT standards like ERC-7231 link multiple gamertags to one profile—creating an “identity of identities” that helps players tell their story throughout the metaverse. Moreover, these blockchain-based protocols provide an unprecedented level of data control by allowing players to fully own and encrypt their information directly onchain. NFT standards like ERC-7231 NFT standards like ERC-7231 Gaming chains excel at building the ecosystem—the ultimate aspiration of consoles. They enable the seamless transfer of assets between games, nurture user loyalty, and foster distinct communities. The synergy and interconnectedness of these blockchain gaming environments surpass anything we’ve seen in conventional gaming, laying the groundwork for experiences that are not just more immersive but also more player-centric. The appeal is simple on both sides of the industry equation: web3 gamers enjoy real stakes in player-driven markets and gamemakers tap into new value streams. A lifeline for an industry at a crossroads These are big pluses for a gaming industry at a crossroads. Mobile game revenue, which constitutes nearly 50% of the global gaming market, is down for the second consecutive year . Meanwhile, as I recently wrote , user acquisition costs head in the other direction. for the second consecutive year for the second consecutive year as I recently wrote as I recently wrote Understandably, gaming wants to harness web3’s demographics (users with stronger spending power, high project loyalty, and experience with complex games) and conversion capabilities (improved ability to guide users through in-depth, in-game conversions with incentives and token expectations) in shaping tomorrow. Additionally, gaming must be eyeing these new revenue streams with envy. Most recently, for example, Telegram showed that even platforms can become consoles via blockchain integration. As one of the world’s biggest chat platforms with almost 1B users, Telegram officially endorsed TON as the app’s “ official web3 infrastructure ”. Mini-apps inside the platform boomed with play-to-earn games leveraging TON to engage and reward players. The successes speak for themselves – Notcoin is worth more than $1B , Hamster Kombat is one of the fastest-growing web3 apps and BANANA hit 10M users in just over a month . official web3 infrastructure official web3 infrastructure Notcoin is worth more than $1B Notcoin is worth more than $1B Hamster Kombat is one of the fastest-growing web3 apps Hamster Kombat is one of the fastest-growing web3 apps BANANA hit 10M users in just over a month BANANA hit 10M users in just over a month This integration between protocol and platform once again shows the power of uniting major user bases with incentive-aligned games – and who’s to say what’s the limit or where this goes next? Digital consoles and their various iterations promise to define the gaming landscape, ushering in an era where data, ownership, and community are at the core of every experience. Watch this space.

Are Web3 Gaming Chains the New Digital Consoles?

MANILA, Philippines, August 27th, 2024/GamingWire/--Hosted annually by GAM3S.GG, the GAM3 Awards 2024 will see its first in-person award ceremony take place this November at the YGG Play Summit in Manila, Philippines. GAM3S.GG has partnered with Yield Guild Games (YGG), the world’s largest network of web3 gamers and gaming guilds, to bring the awards to the Philippines — where YGG was founded and has continued to play an integral role in driving web3 adoption. The Summit will convene nominees and winners of the prestigious GAM3 Awards, bringing the world’s best web3 founders and game developers to the Southeast Asian hub that is widely recognized as the global epicenter of web3 gaming. Dubbed “the GDC of web3 gaming” by previous attendees, the YGG Play Summit is an annual week-long celebration of web3 games with previous iterations of the event including a 2-day conference, 3-day expo, 24-hour hackathon, a tournament, and dozens of pre-event activities and side events. Now in its third year, the YGG Play Summit has welcomed world-renowned thought leaders to its speaker lineup including Yield Guild Games (YGG) co-founder Gabby Dizon, Sky Mavis co-founder Jeffrey “Jihoz” Zirlin, Animoca Brands Executive Chairman Yat Siu, Parallel founder Kohji Nagata, Pixels founder Luke Barwikowski, Star Atlas co-founder Michael Wagner, Pixelmon CEO Giulio Xiloyannis, Black Eyed Peas rapper Apl.de.ap, and more. “This is the third year we run these awards, and we really wanted to do something special this time,” said GAM3S.GG co-founder and CEO Omar Ghanem. “The Philippines has long been one of the main hubs for web3 gaming, and some of the earliest adopters and most passionate community members are based right here. That’s why it only feels right that our first ever physical version of the GAM3 Awards takes place at the heart of Manila — the heart of web3 gaming.” Since its inception in 2022, the GAM3 Awards have acted as a measure of the growth and progress of the web3 gaming ecosystem while recognizing outstanding achievement and celebrating excellence among industry leaders. Each year, a distinguished lineup of jurors deliberates over shortlisted nominees across a range of award categories, with industry leaders such as Xbox Director Agnes Kim, Naavik co-founder Abhimanyu Kumar, and content creator Sam Steffanina, having previously joined the judging panel. Additionally, community sentiment will play an important role in The GAM3 Awards 2024; in 2023, over 450,000+ votes were cast from a pool of 50,000 unique voters to determine the year’s best games. At last year's GAM3 Awards, winners split a USD$2 million prize pool with the largest share going to the web3 trading card game (TCG) Parallel, which earned multiple titles including Game of the Year, Best Strategy Game, and Best Card Game. Also at the GAM3 Awards 2023, My Pet Hooligan won Best Action Game, Pixels won Best Casual Game, and Mighty Action Heroes won Best Mobile Game. “In the Philippines, we’re focused on the people who are playing these games, and that’s what YGG has always been known for,” said YGG co-founder Gabby Dizon. “All the other web3 gaming events around the world are B2B events; the YGG Play Summit is the only one that’s really focused on the consumer experience. For us, hosting the 2024 GAM3 Awards here in Manila is something very exciting because it means the real players of these games will be there to vote and cheer for their favorite titles, while getting to meet the teams behind them, and the content creators that play a big part in their success.” Previously streamed online, this will be the first time in history that the GAM3S Awards ceremony will be hosted at a physical event. Expect more details to follow as GAM3S.GG and YGG come together at SM Aura in Bonifacio Global City on 22 November 2024, for one of the most important nights of the year. About GAM3S.GG GAM3S.GG is a web3 gaming superapp with over 1,000,000+ registered users that curates and creates content to spotlight the top games and showcase reviews, guides, news, quests, annual awards, and more. GAM3S.GG has built a leading web3 gaming discovery platform over the past 3 years, as they continue to grow into the one-stop-shop for web3 gaming to help onboard millions of gamers, allowing them to engage with blockchain-powered games in unprecedented ways and becoming the ultimate bookmark on every gamer’s device. For more information:  www.gam3s.gg About Yield Guild Games Yield Guild Games (YGG) is a Web3 Guild Protocol that enables players and gaming guilds to find their community, discover games and level up together. Its mission is to become the leading community-based user acquisition platform in web3 gaming. As a network of gaming guilds focused on web3 games, YGG is committed to providing opportunities for its members to achieve success in web3 gaming through questing initiatives such as Superquests and the Guild Advancement Program (GAP). These enable members to build their onchain identity through its achievement-based reputation system. From its roots in the Philippines to its global network of regional guilds and partnerships with over 100 blockchain games and infrastructure projects, YGG caters to an ever-expanding community of gamers and blockchain enthusiasts. About YGG Play Summit The YGG Play Summit (YPS) explores the intersection of gaming and the emerging web3 ecosystem, featuring a hackathon, a conference, a game expo, and esports tournaments. It features opportunities for attendees to connect and provide valuable insights into the future of gaming, digital ownership, and the top projects of web3 globally. The conference focuses on the business of Web3 gaming and the future of the gaming industry. Speakers include founders and C-level executives from venture funds, crypto exchanges, protocols, and web3 wallets, alongside gaming studios, esports teams, guilds, and the gaming community. Contacts Director Leah Callon-Butler Emfarsis leah@emfarsis.com Media Associate April Cuneta Emfarsis april@emfarsis.com This story was distributed as a release by Gamingwire under HackerNoon’s Business Blogging Program. Learn more about the program here. MANILA, Philippines, August 27th, 2024/GamingWire/--Hosted annually by GAM3S.GG, the GAM3 Awards 2024 will see its first in-person award ceremony take place this November at the YGG Play Summit in Manila, Philippines. GAM3S.GG has partnered with Yield Guild Games (YGG), the world’s largest network of web3 gamers and gaming guilds, to bring the awards to the Philippines — where YGG was founded and has continued to play an integral role in driving web3 adoption. The Summit will convene nominees and winners of the prestigious GAM3 Awards, bringing the world’s best web3 founders and game developers to the Southeast Asian hub that is widely recognized as the global epicenter of web3 gaming. Dubbed “the GDC of web3 gaming” by previous attendees, the YGG Play Summit is an annual week-long celebration of web3 games with previous iterations of the event including a 2-day conference, 3-day expo, 24-hour hackathon, a tournament, and dozens of pre-event activities and side events. Now in its third year, the YGG Play Summit has welcomed world-renowned thought leaders to its speaker lineup including Yield Guild Games (YGG) co-founder Gabby Dizon, Sky Mavis co-founder Jeffrey “Jihoz” Zirlin, Animoca Brands Executive Chairman Yat Siu, Parallel founder Kohji Nagata, Pixels founder Luke Barwikowski, Star Atlas co-founder Michael Wagner, Pixelmon CEO Giulio Xiloyannis, Black Eyed Peas rapper Apl.de.ap, and more. “This is the third year we run these awards, and we really wanted to do something special this time,” said GAM3S.GG co-founder and CEO Omar Ghanem. “This is the third year we run these awards, and we really wanted to do something special this time,” said GAM3S.GG co-founder and CEO Omar Ghanem. “The Philippines has long been one of the main hubs for web3 gaming, and some of the earliest adopters and most passionate community members are based right here. That’s why it only feels right that our first ever physical version of the GAM3 Awards takes place at the heart of Manila — the heart of web3 gaming.” “The Philippines has long been one of the main hubs for web3 gaming, and some of the earliest adopters and most passionate community members are based right here. That’s why it only feels right that our first ever physical version of the GAM3 Awards takes place at the heart of Manila — the heart of web3 gaming.” Since its inception in 2022, the GAM3 Awards have acted as a measure of the growth and progress of the web3 gaming ecosystem while recognizing outstanding achievement and celebrating excellence among industry leaders. Each year, a distinguished lineup of jurors deliberates over shortlisted nominees across a range of award categories, with industry leaders such as Xbox Director Agnes Kim, Naavik co-founder Abhimanyu Kumar, and content creator Sam Steffanina, having previously joined the judging panel. Additionally, community sentiment will play an important role in The GAM3 Awards 2024; in 2023, over 450,000+ votes were cast from a pool of 50,000 unique voters to determine the year’s best games. At last year's GAM3 Awards, winners split a USD$2 million prize pool with the largest share going to the web3 trading card game (TCG) Parallel, which earned multiple titles including Game of the Year, Best Strategy Game, and Best Card Game. Also at the GAM3 Awards 2023, My Pet Hooligan won Best Action Game, Pixels won Best Casual Game, and Mighty Action Heroes won Best Mobile Game. “In the Philippines, we’re focused on the people who are playing these games, and that’s what YGG has always been known for,” said YGG co-founder Gabby Dizon. “In the Philippines, we’re focused on the people who are playing these games, and that’s what YGG has always been known for,” said YGG co-founder Gabby Dizon. “All the other web3 gaming events around the world are B2B events; the YGG Play Summit is the only one that’s really focused on the consumer experience. For us, hosting the 2024 GAM3 Awards here in Manila is something very exciting because it means the real players of these games will be there to vote and cheer for their favorite titles, while getting to meet the teams behind them, and the content creators that play a big part in their success.” “All the other web3 gaming events around the world are B2B events; the YGG Play Summit is the only one that’s really focused on the consumer experience. For us, hosting the 2024 GAM3 Awards here in Manila is something very exciting because it means the real players of these games will be there to vote and cheer for their favorite titles, while getting to meet the teams behind them, and the content creators that play a big part in their success.” Previously streamed online, this will be the first time in history that the GAM3S Awards ceremony will be hosted at a physical event. Expect more details to follow as GAM3S.GG and YGG come together at SM Aura in Bonifacio Global City on 22 November 2024, for one of the most important nights of the year. About GAM3S.GG GAM3S.GG is a web3 gaming superapp with over 1,000,000+ registered users that curates and creates content to spotlight the top games and showcase reviews, guides, news, quests, annual awards, and more. GAM3S.GG has built a leading web3 gaming discovery platform over the past 3 years, as they continue to grow into the one-stop-shop for web3 gaming to help onboard millions of gamers, allowing them to engage with blockchain-powered games in unprecedented ways and becoming the ultimate bookmark on every gamer’s device. For more information:  www.gam3s.gg About Yield Guild Games Yield Guild Games (YGG) is a Web3 Guild Protocol that enables players and gaming guilds to find their community, discover games and level up together. Its mission is to become the leading community-based user acquisition platform in web3 gaming. As a network of gaming guilds focused on web3 games, YGG is committed to providing opportunities for its members to achieve success in web3 gaming through questing initiatives such as Superquests and the Guild Advancement Program (GAP). These enable members to build their onchain identity through its achievement-based reputation system. From its roots in the Philippines to its global network of regional guilds and partnerships with over 100 blockchain games and infrastructure projects, YGG caters to an ever-expanding community of gamers and blockchain enthusiasts. About YGG Play Summit The YGG Play Summit (YPS) explores the intersection of gaming and the emerging web3 ecosystem, featuring a hackathon, a conference, a game expo, and esports tournaments. It features opportunities for attendees to connect and provide valuable insights into the future of gaming, digital ownership, and the top projects of web3 globally. The conference focuses on the business of Web3 gaming and the future of the gaming industry. Speakers include founders and C-level executives from venture funds, crypto exchanges, protocols, and web3 wallets, alongside gaming studios, esports teams, guilds, and the gaming community. Contacts Director Leah Callon-Butler Emfarsis leah@emfarsis.com Media Associate April Cuneta Emfarsis april@emfarsis.com This story was distributed as a release by Gamingwire under HackerNoon’s Business Blogging Program. Learn more about the program here. This story was distributed as a release by Gamingwire under HackerNoon’s Business Blogging Program. Learn more about the program here . here

GAM3 Awards 2024 Ceremony To Be Held At YGG Play Summit, Philippines

GAM3 পুরস্কার 2024 অনুষ্ঠান YGG প্লে সামিট, ফিলিপাইনে অনুষ্ঠিত হবে

Die Zeremonie der GAM3 Awards 2024 findet beim YGG Play Summit auf den Philippinen statt

La ceremonia de entrega de los premios GAM3 2024 se celebrará en la cumbre YGG Play de Filipinas

La cérémonie de remise des prix GAM3 2024 se tiendra au YGG Play Summit, aux Philippines

GAM3 पुरस्कार 2024 समारोह YGG प्ले समिट, फिलीपींस में आयोजित किया जाएगा

GAM3 アワード 2024 授賞式がフィリピンの YGG Play サミットで開催

GAM3 Awards 2024 시상식, 필리핀 YGG Play Summit에서 개최

Cerimônia de premiação do GAM3 Awards 2024 será realizada no YGG Play Summit, Filipinas

Церемония вручения наград GAM3 Awards 2024 состоится на саммите YGG Play Summit на Филиппинах

GAM3 Ödülleri 2024 Töreni Filipinler'deki YGG Oyun Zirvesi'nde Yapılacak

Lễ trao giải GAM3 Awards 2024 sẽ được tổ chức tại YGG Play Summit, Philippines

2024 年 GAM3 大奖颁奖典礼将于菲律宾 YGG Play 峰会举行

SINGAPORE, Singapore, April 3rd, 2024/Chainwire/-- Bitlayer Labs, the first Bitcoin Layer 2 solution based on BitVM, announced a seed round of $5M led by Framework Ventures and ABCDE Capital, participation by StarkWare, OKX Ventures, Alliance DAO, UTXO Management, Asymmetric Capital and many more. The announcement comes as Bitlayer prepares the launch of its open-incentive program Ready Player One, inviting developers worldwide to augment, enhance, and build on the protocol. Bitlayer Labs, the developer of Bitcoin Layer 2 protocol , announced today the close of a $5 million seed funding round at an $80 million valuation, driving a vision to become the computation layer of Bitcoin. Bitlayer Investors & Ecosystem Partners Blockchain-based venture firms Framework Ventures and ABCDE Capital led the round, with participation from StarkWare, OKX Ventures, Alliance DAO, UTXO Management, Asymmetric Capital, Kenetic Capital, Kestrel, Global Coin Research, Pivot Global, and Web3Port. Many other incredible investors added value to the seed round. Prominent angel investors including Messari CEO Ryan Selkis, Messari co-founder Dan McArdle, Asymmetric Capital founder Dan Held, Hacken CEO Dyma, Sky Mavis CEO Trung and CTO Andy, and Kyber Network founder Loi Luu, among others, joined in capitalizing the round. Bitlayer’s seed round was delivered soaring value-add support from ecosystem partners including Hacken, AWS Cloud, Ankr, Polyhedra, Babylon, Particle Network, Meson, Nubit, BitSmiley, TokenPocket, Xverse, Flash Protocol, Umoja.xyz, RunesTerminal, and more. The Bitlayer Network Bitlayer is the first Bitcoin Layer 2 network based on BitVM, offering Bitcoin-equivalent security and Turing completeness. The protocol aims to build a more scalable and interconnected Bitcoin ecosystem. The securing of new capital pushes Bitlayer's lead in paving the way for more Bitcoin Layer 2 use cases, a race that will propel Bitcoin to prevail over other blockchains in size, scalability, and security. The fund will also enable Bitlayer to grow its team by hiring across business development and engineering faculties to support global expansion efforts. Investment firms are increasingly optimistic about the Bitcoin ecosystem as Bitlayer is rapidly gaining prominence, capturing the industry's attention. Investor Remarks Roy Learner, partner at Framework Ventures, spoke on the augmentation of Bitlayer with BitVM: “We are excited to back Bitlayer as they launch the first Bitcoin Layer 2 network based on BitVM. Looking at the trade-off space, BitVM struck us as the most practical approach to bring scalability and expressiveness into the BTC ecosystem without sacrificing security.With over $1T of global wealth looking to productively utilize their BTC, Bitlayer opens up the design space to introduce novel DeFi use cases and applications. Led by a team of OGs, we've been impressed by Kevin and Charlie's blend of deep technical background and rich crypto experience and are excited to partner with them as they deliver on their vision of making Bitcoin a more productive asset.” Qiao Wang, co-founder of Alliance DAO, emphasized the future of Bitlayer and Bitcoin L2s in the emerging era: “I spent the vast majority of my intellectual, social, and financial capital in the Ethereum ecosystem in the last decade, but deep down I've always been a Bitcoiner. The possibility to enhance Bitcoin's expressiveness and scalability via L2s such as Bitlayer is the most exciting moment in the history of Bitcoin. That is because there's over $1T of wealth stored on Bitcoin, and the holders would want to do something productive with it. Greater expressiveness and scalability enable this. Bitlayer is one of the most experienced, passionate, and technically capable teams to tackle this problem.” In the midst of building Bitlayer, co-founder Charlie Hu shared his thoughts on the protocol’s milestone: "This support signifies investors’ and builders’ trust in Bitlayer and the team, and demonstrates a robust backing for the Bitcoin ecosystem and the future of Bitcoin DeFi at large." Bitlayer ventures into the future of Bitcoin with newly supplied capital, anticipating a rush of development activity and investor interest in the Bitcoin Layer 2 space. "Bitlayer is dedicated to bringing super scalability into the Bitcoin ecosystem, with hundreds of millions of potential users as an addressable market," said Kevin He, co-founder of Bitlayer. "We’ve created the best, easiest-to-use scalability product in order to give users better fee rates and faster actions, all based on Bitcoin’s security foundation." With the approach of the Bitcoin halving event, the need for a robust Bitcoin ecosystem becomes more important than ever. Bitlayer’s exacting design and rigorous security auditing in preparation for public mainnet launch primes the protocol for a flourishing builder ecosystem. Mainnet launches on April 5th, with more milestones arriving soon on the project’s development pipeline. Ready Player One– Ecosystem Incentive Program. To accelerate ecosystem development and incentivize projects to deploy on the Bitlayer mainnet, Bitlayer is launching a series of ecosystem incentive programs– starting with the first event, Ready Player One. The campaign is an open incentive program designed to distribute token rewards valued at over $50M to protocols and teams that deploy to the Bitlayer mainnet and demonstrate exceptional performance. Bitlayer’s growth is accelerating, urging strong projects to join its ecosystem to grow the protocol in exponential ways. Bitlayer commits to providing comprehensive ecosystem support for all projects, offering the following resources to builders: Potential investment from the foundation and institutions Initial liquidity support Comprehensive product development resources Mentorship and pitch opportunities from top-tier incubators Support from the Bitcoin community and OGs Ecosystem collaboration and co-creation Users can find the full article for more information. here About Bitlayer is the first Bitcoin Layer 2 network based on BitVM, offering Bitcoin-equivalent security and Turing-completeness. Bitlayer is committed to becoming the computation layer for Bitcoin. It introduces ultra-scalability and inherits Bitcoin’s L1 security, providing users with high throughput and a low-cost transaction experience. Bitlayer Github Contact Digital Marketing Manager Sky Harris Bitlayer skyler@bitlayer.org This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here.

Bitlayer, a Leading Bitcoin L2, Nets $5M In Funding, Unveils $50M 'Ready Player One' Program

By Demetrios Skalkotos, CEO & Co-Founder of expand.network In the decentralized finance (DeFi) space, each blockchain or protocol can be compared to a unique stall in a bustling marketplace. However, there's a twist: each trader (blockchain) communicates using their own set of rules and language. While this diversity fosters a hotbed of innovation, it simultaneously presents a formidable challenge — the absence of seamless and secure interoperability. Universal connectors are the technical linguists of our time, fostering communication across different systems. They act as a middleware layer, translating the information from one language to another, much like Google Translate. Let's consider this concept within the context of blockchain and decentralized finance. Today, the blockchain and DeFi ecosystem reflects a vibrant marketplace where each stall is a unique blockchain or protocol. It's a hotbed for innovation but with a catch. Each blockchain and protocol operates under its own rules, speaking unique languages that lead to a web of intricate interactions. The lack of seamless and secure blockchain interoperability means developers working with multiple blockchains and protocols face a labyrinthine process, obstructing the path to seamless interoperability. Digital Tower of Babel These fractured blockchains and DeFi protocols form a puzzle that developers must solve. Every piece of the puzzle represents a different blockchain with its unique set of rules, smart contracts, and communication protocols. This fractured environment makes it challenging to build applications that can interact seamlessly with multiple blockchains. Now, consider the arrival of a Rosetta Stone for blockchain: universal connectors. They act as the bridge between disparate blockchains and DeFi protocols, interpreting the unique languages of each system, thus allowing developers to work with multiple systems effortlessly. In the blockchain world, interoperability is the capacity of diverse blockchain networks to share information and conduct transactions with each other. Here, universal connectors become invaluable interpreters in the tower of blockchain languages, allowing different systems to understand and communicate with each other. Translating Blockchain Sending information from one blockchain to another without a translator or connector would be like trying to mail a package without knowing the recipient's language. The message, or the “package,” wouldn't be delivered correctly because it's not written in the correct language for that particular system. Universal connectors resolve this issue, acting as interpreters, translating the information from one blockchain's language to another's, facilitating communication and transactions across different blockchains. They can support both EVM and non-EVM compatible blockchains and a variety of DeFi protocols including swapping, lending, borrowing, yield aggregation, bridges, and other banking capabilities. Challenges and Opportunities As DeFi continues to grow and more blockchains and protocols emerge, the need for efficient communication across these diverse systems becomes paramount. But blockchain interoperability has been plagued by challenges. Many have tried and failed to solve the complex issue of blockchain interoperability, often falling victim to expensive hacks and security breaches. Traditional approaches like notary schemes, hashed time-lock contracts, and sidechains have been deployed with varying degrees of success. These methods have faced challenges ranging from security vulnerabilities to performance limitations. For instance, notary schemes often require a trusted third party, creating a single point of failure. Hashed time-lock contracts, while innovative, are limited by the need for participants to be online simultaneously for transactions to occur. Sidechains and relay chains have come closer to achieving seamless interoperability but are often constrained by complex setups and high operational costs. Importantly, some of these traditional approaches can also introduce single points of failure and attack vectors, exacerbating the security risks. The real-world implications of blockchain interoperability — or the lack thereof — are far from theoretical. Take, for example, the in August 2021, which saw US $600 million compromised across Ethereum, BSC, and Polygon Chains. s Poly Network exploit Or consider the in February 2022, resulting in the loss of 120,000 Wrapped Ether (wETH) tokens valued at US$326 million. Most recently, the , the makers of the popular game Axie Infinity, was exploited for a staggering US$625 million in Ethereum and USDC. Wormhole token bridge incident Ronin Network's bridge to Sky Mavis These incidents underscore the urgent need for more secure and efficient solutions. Unlike traditional blockchain bridges, which have shown vulnerabilities, universal connectors are engineered to offer a more advanced and secure solution. They act as intermediaries that can translate and verify transactions, thereby reducing the risk of security breaches. Trustless blockchain bridges are also in development to eliminate the need for a "man-in-the-middle," enhancing security even further. Universal connectors not only promise to mitigate the risks associated with previous technologies but also aim to solve the "interoperability trilemma," offering a solution that is trustless, extensible, and data agnostic. In doing so, they lay the groundwork for a future where the interoperability problem becomes a relic of the past, opening up new avenues for innovation and collaboration across diverse blockchain networks. Charting New Paths Blockchain connectors have come a long way since their inception. While they may have started as rudimentary "bridges," today's connectors offer a far more advanced and secure solution for blockchain interoperability. At the same time, it's important to acknowledge that no technology is without its challenges. For instance, like any other technology aiming for widespread adoption, universal connectors must navigate issues like security protocols and integration complexities. The advent of the internet was a tale of isolated islands, each computer system using its own coded language. The arrival of TCP/IP, an assortment of communication protocols, acted as the digital interpreter, creating a universal language that allowed these systems to converse. It reshaped the digital landscape, laying the groundwork for the modern internet. In a similar vein, universal blockchain connectors could serve as the TCP/IP of the crypto world, unifying disparate systems and enabling seamless communication. Blockchain connectors have the potential to be a catalyst for change, opening up new possibilities in the Web3 space where blockchain bridges in the past have failed. Imagine an ecosystem where diverse systems interact seamlessly, where the interoperability problem is a thing of the past, addressing the inefficiencies that have long been a hurdle in the blockchain landscape — without the gaping security gaps. Looking ahead, widespread adoption of universal connectors could also open the floodgates to new developments. For developers, this means the capacity to build versatile applications that can interact with a multitude of blockchains and protocols. For traders, this implies seamless transactions across different systems. Universal connectors could lead to a more interconnected and collaborative blockchain and DeFi ecosystem, fostering further innovation in the space. They provide a solution to the fragmentation in the blockchain landscape, promising a future where diverse systems can coexist and collaborate. About the Author , is the CEO and Co-founder of Demetrios Skalkotos expand.network a connector API service that offers one common gateway for the various queries (read) and transactions (write) functions for major blockchains and smart contract-based protocols. expand.network offers a single integration point for access to all of DeFi, simplifying the process of working across multiple blockchains for any and all blockchain foundations, investors, traders, wallet providers, developers, and more. Also published here

How to Unify the Blockchain Babel With Universal Connectors

ইউনিভার্সাল সংযোগকারীর সাথে ব্লকচেইন ব্যাবেলকে কীভাবে একীভূত করবেন

So vereinheitlichen Sie das Blockchain-Babel mit universellen Konnektoren

Cómo unificar Blockchain Babel con conectores universales

Comment unifier la Blockchain Babel avec des connecteurs universels

यूनिवर्सल कनेक्टर्स के साथ ब्लॉकचेन बैबल को कैसे एकीकृत करें

ブロックチェーン バベルをユニバーサル コネクタで統合する方法

범용 커넥터로 블록체인 바벨을 통합하는 방법

Como unificar o Blockchain Babel com conectores universais

Как унифицировать Blockchain Babel с помощью универсальных коннекторов

Blockchain Babel'i Evrensel Konektörlerle Nasıl Birleştiririz?

Cách hợp nhất Babel Blockchain với các trình kết nối phổ quát

如何将区块链 Babel 与通用连接器统一起来

SEC v. Binance Court Filing, retrieved on June 5, 2023 is part of . You can jump to any part in this filing . This is part 52 of 69. HackerNoon’s Legal PDF Series here FACTS VIII. THE CRYPTO ASSETS TRADED ON THE BINANCE.COM PLATFORM AND BINANCE.US PLATFORM INCLUDE ASSETS THAT WERE OFFERED AND SOLD AS SECURITIES. I. AXS 486. Axie Infinity Shards (“AXS”) are ethereum tokens that are native to the Axie Infinity (“Axie”) game, a blockchain game that allows players to interact in a virtual world through digital pets called “Axies.” 487. Axie was created by Sky Mavis PTE LTD (Sky Mavis) and launched in 2018. The Sky Mavis team has 40 full-time employees, which include CEO Trung Nguyen and COO Aleksander Leonard Larsen, who are part of the founding team responsible for key decisions regarding Axie, such as product development, marketing, digital design, and software engineering. 488. Players of the Axie game can earn AXS for successfully playing the Axie game and can use AXS to make in-game purchases. AXS can also be staked through Axie. The total AXS token supply is 270 million with over 100 million in circulation. 489. In 2020, Sky Mavis raised about $864,000 in a purportedly private sale of AXS tokens to “strategic investors.” That same year, Sky Mavis conducted a public sale of AXS, resulting in the distribution of 29.7 million AXS tokens, raising $2.9 million for Axie. The AXS tokens sold to “strategic investors” were offered at a 20 percent discount to those sold in the public offering, and were subject to a quarterly unlocking schedule over a two-year period. 490. AXS has been available for buying, selling, and trading on the Binance.com Platform since October 2020, and the Binance.US Platform since November 2021. 491. The information Sky Mavis publicly disseminated has led AXS holders, including those who have purchased AXS since August 2021, reasonably to view AXS as an investment in and to expect to profit from Sky Mavis’s efforts to grow the Axie protocol, which, in turn, would increase demand for and value of AXS. 492. For example, Sky Mavis explained publicly that funds raised in the AXS 2020 offerings were pooled and used to develop and improve the Axie platform. An October 26, 2020 article explains that the “team has used funds raised according to the allocations below: 85% [d]evelopmental expenses; 10% [a]dministrative costs; 5% [b]usiness development and marketing.” 493. Also, on November 19, 2020, the Axie Twitter account stated: “Today, we’re proud to share more info on the $AXS strategic sale! The participants will help open amazing new doors. The capital will help us scale the team so we can better deliver on the gameplay and feature updates you’re all patiently waiting for!” To keep the Sky Mavis team “incentivized to keep building after a successful token sale,” 21 percent of the total AXS tokens—56.7 million AXS—were issued to these individuals, which will be gradually unlocked over a 4.5 year period to ensure that “the team, community and investors have aligned incentives.” 494. An Axie whitepaper further explained that the Sky Mavis team will use its experience and efforts to develop and grow the Axie game. For example, it lists the Axie founding team, their roles, and background experience and touts that “we’ve established a core team to lead product development and oversee most decisions related to the progress of the game. This allows us to build and iterate quickly towards product-market fit.” 495. At the time of the initial sale of AXS, the Axie platform was not complete, and while several features of the platform have been implemented since 2020, others are still in the development phase today. Further, the whitepaper explicitly set growth goals in terms of daily average users of Axie Infinity and average weekly growth rates, that if “not met by the end of 2023, Sky Mavis will lead the formation of a steering committee or similar vehicle to discuss a path forward.” Continue Reading . Here About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case 1:23-cv-01599 retrieved on September 6, 2023, from is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. docdroid.net

Binance Faces SEC Probe for Unregistered Axie Infinity Shard Transactions

Where money is involved, scams follow. In the case of , where transactions are irreversible and the funds are not backed by banks, scams are especially frequent, and their effect can be devastating. cryptocurrency According to , over 46,000 persons reported losing over $1 billion in crypto in the period from January 2021 to June 2022. That figure includes only those users who shared the information about being scammed, so the real numbers are significantly higher. the Federal Trade Commission This is connected not only to the fact that users are not aware of the basic safety measures that shall be taken, such as Keeping private keys in a safe place and not sharing them with anybody. Not sending cryptocurrency to somebody who guarantees returns or as a pre-payment for a service or product. Not accessing your wallet from a public network, and if you have to do so, use a VPN. Always checking that you swap your crypto, invest it, lend it, or perform any operations with cryptocurrency on a legit website. The problem is that scammers are very creative. They are constantly inventing new schemes to lure the funds out, and even top cybersecurity specialists can fall for their tricks. This is why the aim of this article is not to discuss some typical scams but to check those that are specific to the world of crypto and to see how to avoid being scammed even if you face a completely new scam type. Ice Phishing - One of the Most Popular Crypto Scams If you have ever , you know that to interact with them, you need to connect a wallet. Typically, MetaMask is used for that. dealt with dApps Ice phishing is a scam that exploits this specific feature of dApps. A scammer doesn’t try to get your private keys. Instead, he creates a website that mimics a specific crypto service. When you connect to it, you are requested to connect your MetaMask wallet to proceed - you sign a “token approval” transaction that grants the website certain access to your wallet. The scam website sends many requests, and users click many times by granting access to more funds in their wallets. This is why it is very important to double-check to which website you are connecting and what the aim of doing so is. After accessing the needed service, ALWAYS disconnect your wallet. Address Poisoning - a Threat for Active Wallets If you receive and send funds from your wallet often, you may have noticed that after a transaction, you get to your wallet small fractions of funds sent from addresses that look like those you interact most. The idea is to insert into your transaction history an address that looks familiar to you so that you can copy it and paste it for the next transaction. The advice to avoid falling victim to this scam type is obvious: you are copying before sending funds. The best way is to scan a QR code provided by the recipient of the funds. always check what wallet addresses False Airdrops - One of the Most Dangerous Scams It happens mostly with ERC-20 tokens because scammers can allocate a fraudulent token to a legit smart contract and send the fraudulent token to all holders of a legit token. Then, they announce that a project has an airdrop and request to exchange the old tokens, which are legit, for new tokens or to send the old tokens to an address where they would be burnt. Of course, a website where such a swap can be made is also provided. As a result, users rush to the fake website and send their tokens to a scammer. The only way to detect the scam is to contact the issuer of a legit token and ask whether there is an airdrop. But scammers create a sense of urgency. Users are given so little time to “exchange” their tokens that they simply don’t have time to check. An example of such a scam is the airdrop of . Scammers sent the token to all holders of LINK, the official Chainlink token, and requested to send the original LINK tokens to a provided address where they would be burnt. the tLINK token Shadow Workforce - a Note for Hiring Managers and Business Owners This is not a typical scam targeted at crypto users. It is aimed at cryptocurrency companies that rely on remote workers. It happens that criminals apply for a job in a crypto company and get insider access that allows them to steal funds, enable cyber attacks, or damage the business in any other way. So, in 2022, who was posing as a recruiter. As a part of the job interview, the shadow worker created a document and gave it to the engineer to review. The document contained malicious code that allowed North Korean hackers from the Lazarus Group to break into the company’s system and steal $600 million in the Ronin bridge hack. shadow workers reached a Sky Mavis engineer Final Thoughts Crypto is evolving, and scammers invent more intricate methods to steal people’s funds and damage the reputation of businesses. While there is a hope that, over time, technology will become so advanced that hacks will become impossible or at least not profitable, I still believe that the future of crypto lies in the ethical application of the crypto space.

4 Common Crypto Scams and How to Detect Them

Global markets have experienced mixed reactions over the past week, likely fueled by the uncertainty surrounding the resolution of the US government's  $31.4 trillion debt ceiling dilemma. As we highlighted in our week's newsletter, the US Treasury is confronting the imminent threat of a debt crisis, which could result in an inability to fulfill its financial obligations as early as June. previous Fortunately, it appears the legislators are now to reach a consensus. inclined While this news, coupled with a decelerating rate of inflation, has instilled some optimism in the market, certain analysts that the possibility of a mild recession still looms. caution Whole Bitcoiners Eclipse 1 Million At this stage, the market sentiment is starting to feel indifferent, and all the communities I am participating in, where I discuss with other traders, currently have drastically low activity. What this is a sign of, I will let you be the judge of, but to me, it feels like the quiet before a volatile move. The HODL Army Increases Despite the low activity in the market, recent data from reveals that the number of Bitcoin addresses holding 1 BTC or more has now surpassed 1 million, a significant milestone for this pioneer crypto asset. Glassnode The spike in number of “wholecoiners” is occurring at a time when the crypto market has plummeted by over 65% from its all-time high. A great indicator that there is still long-term conviction to be found in the markets even if there is blood in the streets. Noteworthy Mentions Real-world assets (RWAs): The Holy Grail of DeFi We recently published an extensive piece delving into this emerging crypto asset class and its potential to bridge traditional assets with on-chain economies. RWAs offer a unique and compelling value proposition through asset tokenization. For more insights, here is the link to the full . article Industry Shakers Tether to invest up to 15% of its profits in Bitcoin Tether, the stablecoin issuer, has announced a new investment strategy focused on Bitcoin (BTC). Starting this month, Tether will regularly purchase BTC using a portion of its profits, allocating up to 15% of realized investment profits. This move follows Tether's recent disclosure of holding $1.5 billion worth of BTC and $3.4 billion of gold among its reserve assets, backing its flagship stablecoin USDT and other stablecoins. Bakkt delists popular DeFi tokens Bakkt, the digital asset firm owned by Intercontinental Exchange, has recently removed 25 out of the 36 crypto tokens that were originally listed on its recently acquired trading platform, Apex Crypto. According to a spokesperson for Bakkt, the decision was made as part of their routine coin listing review process. Notably, the majority of the delisted tokens are associated with prominent decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, including AAVE, Uniswap (UNI), Compound (COMP), and LINK. Apple allows Axie Infinity on the App Store Sky Mavis, the creator of the widely acclaimed blockchain-based video game Axie Infinity, has recently made an exciting announcement. The game is now officially accessible for download on the Apple App Store. Users in various countries, such as Argentina, Peru, Colombia, Venezuela, Mexico, Indonesia, Vietnam, and Malaysia, will be able to enjoy this captivating gaming experience on their Apple devices. Also published here

The U.S. Debt Ceiling Dilemma: How It's Affecting the Markets

Security is one of the biggest challenges for crypto users and service providers in the digital asset industry. In recent years, numerous hacks, scams, and other security breaches have occurred targeting cryptocurrency exchanges, wallets, and other related platforms. Unsurprisingly, 2021 and 2022 have witnessed the biggest single hacks by value, in the history of cryptocurrencies. A majority of these attacks targeted Decentralised Finance (DeFi) protocols, with the malicious players taking advantage of this nascent ecosystem. Given how rampant crypto security breaches have become, it is important for both crypto natives and firms to be aware of these potential risks and take steps to protect their assets. In this article, we will review in detail the current state of security in the crypto industry. Most Common Vulnerabilities and Hacks Associated with Defi While the philosophy of decentralization is the anchor to the DeFi ecosystem, smart contract codes are not error-free. All it takes is a small bug or vulnerability for attackers to take over the protocol.  Below are some of the most common attacks in De-Fi: 1. Flash Loan Attacks A flash loan attack is one of the most common types of exploit in the DeFi (Decentralised Finance) space. It is a type of malicious attack that allows an attacker to borrow a large amount of funds from a DeFi protocol in a very short amount of time, usually in a single transaction, and then use those funds to manipulate the market. The attacker can then quickly return the loaned funds, with the profits from their market manipulation, before the loan is even registered on the blockchain. Flash loan attacks are particularly dangerous because they can be executed without the attacker having to put up any of their own funds, and the attack can be executed almost instantaneously. 2. 51% Attacks A 51% attack is a type of attack that occurs when a single entity (or group of entities) assumes control of more than 50% of the computing power of a decentralized network. This entity can then manipulate the consensus rules of the network, including double spending, halting transactions, and changing the ledger in any way they see fit. This type of attack is especially concerning in decentralized finance (DeFi) protocols, as it can be used to steal funds from users and disrupt the network. 3. Bug Exploitation Attacks Bug exploitation attacks in blockchain refer to the use of vulnerabilities or weaknesses in the code of a blockchain network or decentralized application (DApp) to gain unauthorized access or control. These attacks can be used to steal cryptocurrency or personal data, disrupt the normal functioning of the network or DApp, or manipulate data stored on the blockchain. These attacks can occur at different levels in a blockchain system, such as the protocol, smart contract, or application levels. For example, an attacker may exploit a vulnerability in the protocol to create fraudulent transactions, block legitimate transactions, or exploit a weakness in a smart contract to manipulate its behavior or steal assets. Biggest DeFi Hacks of 2022 According to crypto intelligence firm , 2022 holds by far the largest number of cryptocurrency heists recorded, totaling $3 Billion as of October 2022. Interestingly the top 10 biggest cryptocurrency hacks of 2022 were all DeFi, surpassing the total value stolen in 2020 and 2021 combined. Chainalysis Below is a summarised breakdown of the biggest DeFi hacks in 2022; On February 2, a hacker successfully exploited a security flaw in the Wormhole protocol, a cross-chain crypto network connecting Solana, Ethereum, Avalanche, and other major networks. According to analytics firm Elliptic, the vulnerability stemmed from the protocol's lack of "guardian" account validation, which allowed the attacker to create 120,000 wETH without any Ethereum backing. The hacker then converted 93,750 wETH into Ethereum and the rest into Solana, resulting in a total loss of nearly $320 million. 1. Wormhole The Ronin Validator suffered a major security breach in March 2022 where 173,600 ETH and 25.5 million USDC ($615.5 million) were stolen. The hackers, who are believed to be part of the Lazarus Group, compromised the Sky Mavis's Ronin and Axie DAO validator nodes, allowing them to steal private keys and make fake withdrawals. This is considered the largest DeFi hack to date. 2. Ronin Exploit On April 18th, 2022, the Beanstalk attack occurred, becoming one of the largest flash loan attacks. By exploiting a one-day delay in the $BEAN governance proposal contract, the hacker was able to take out a flash loan and gain control of over 70% of all seeds. This gave them access to 350 million DAI, 500 million USDC, 150 million USDT, 32 million BEAN, and 11.6 million LUSD. Eventually, the hacker was able to transfer $182 million although Beanstalk claims they only made away with $80 million. 3. Beanstalk Attack On Aug. 2, a group of hackers stole $190 million in cryptocurrency by compromising the Nomad token bridge, a platform that allows users to swap tokens between various blockchain ecosystems. The attack exploited a flaw in the platform's smart contract, allowing the hackers to repeatedly withdraw more assets than they had deposited. Unfortunately, the Nomad team was unaware of the breach until it was too late. 4. Nomad Bridge Attack Hackers exploited a loophole in the decentralized exchange Maiar and stole approximately 1.65 million Elrond Egold (EGLD) tokens, worth approximately $113 million, in June. The attackers used a smart contract and three different wallets to execute the theft, then quickly sold 800,000 of the stolen EGLD tokens for a total of $54 million on the same DEX. The remaining EGLD was either sold on centralized exchanges or exchanged for Ethereum. 5. Maiar Hack Centralized Exchanges: Crypto’s Biggest Honeypot Self-custody is probably one of the most preached mantras in the crypto community. Beyond the paranoia of having a service provider handle your assets, the need for absolute control over one’s funds has been proven time and time again, especially given how susceptible CEXs are to attacks, even when the dev part of these CEXs is well-checked. Centralized crypto platforms are susceptible to various types of security risks; of the major risks is exposure to cyber-attacks. In several instances in the past, hackers have compromised centralized crypto exchanges, resulting in the loss of millions of U.S. dollars worth of clients’ funds. While there were only a handful of attacks on centralized exchanges this year, several high-profile players were caught unawares: On January 17, 2022, Crypto.com, one of the world's most popular crypto apps and well-known exchanges, experienced a data breach that resulted in 483 customer accounts being compromised. The exact cause of the breach is yet to be determined. However, the CEO of Crypto.com, Kriz Marszalek, confirmed the security breach, resulting in the exchange shutting down certain services for 13-14 hours. Reports indicate that 4,836.26 ETH, 443.93 BTC, and approximately US$66,200 in other currencies were stolen from the cryptocurrency exchange. 1. Crypto.com January 2022 Hack At first, it was reported that $100 million had been hacked. However, soon the number rose drastically to $570 million after 2 million BNB tokens were withdrawn. (“CZ”), the Binance co-founder and CEO, revealed that the hack occurred on a cross-chain bridge, BSC Token Hub, which enables users to move digital assets from one blockchain to another. The hackers were able to generate 2 million BNB tokens out of thin air by exploiting a security flaw in the bridge. The attacker then sent themselves one million BNB tokens twice in a row. 2. Binance’s BNB Chain $570 million hack Changpeng Zhao On November 12, 2022, the embattled exchange FTX was hacked, resulting in the theft of approximately USD 60 million. The hack occurred as FTX was entering into Chapter 11 bankruptcy proceedings. The exact cause of the hack is unknown, though reports suggest that an inexperienced insider may have transferred the funds to a Kraken wallet. 3. FTX Hacked Amid Bankruptcy Process Building a More Robust Crypto Security Framework Cryptocurrency has become increasingly popular, with many uses and applications in recent years. However, as with any financial system, it is important to ensure that the system is secure and protected against potential threats. Building a more robust crypto security framework is essential for ensuring the safety and reliability of cryptocurrency transactions and protecting against unauthorized access or attacks. Stakeholders need to implement several frameworks to help build a healthy crypto environment. Such frameworks include regular security audits, secured storage handling, regulators' ban on private crypto assets, pausing the chain, etc. Finally, security in the digital asset industry is a complex and evolving issue. While significant progress has been made in improving security measures, the industry still faces challenges such as increasing sophistication of cyber threats and dApps that still require plenty of work in their functionality. To protect themselves and their assets from attacks, crypto users and investors can use stronger passwords, enable 2-factor authentication, use hardware wallets, and use reputable exchanges. Also published here.

Into the Abyss: The Cyber Security Pit of the Digital Asset Industry

Hi Hackers, Happy New Year 🎉 There’s no question that as we look ahead, a lot of talking heads in the crypto space, myself included, think the NFT gaming ecosystem stands to have a big 2023. But what are the sorts of things we want to see in this ecosystem for this big year to come to fruition? Toward that end, I’ve put together a wishlist — 8 rising themes in the NFT gaming sector that I (and maybe soon you too) want to see more of in 2023. Let’s dive in! -WMP 8 web3 gaming themes for 2023 🕹️ 1) Deeper, Richer Gameplay https://twitter.com/AxieInfinity/status/1609932508296105984?s=20&t=AW19csYfK-VrP-kHClD_bg&embedable=true One reason people love games so much? They allow us to test and hone our skills. Nowhere is this truer than in games that have lots of , i.e. they offer a rich variety of tactical and strategic gameplay possibilities. Anything from Chess to Hearthstone are examples here. depth The NFT gaming ecosystem is growing faster than ever now, but to date many of its early titles have felt “flat” in lacking much to do and thus offering players little in the way of tests of skill. One project working in the right direction here right now is Axie Infinity. https://twitter.com/xero_mt8/status/1606543364325019648?s=20&t=g9unkQ3pbrdozNIybFUWrw&embedable=true In April 2022, Axie creators Sky Mavis unveiled , an optimized version of their original tactical card battler game that introduced card updates, a charms and runes crafting system, and real-time combat. As you can see from the tweet above, these new elements allow players to enjoy a of depth with unique, custom-tailored playing styles. Axie Infinity: Origins lot Of course, Axie Infinity: Origins is still a work in progress itself, but I hope to see more projects following its lead in “going deep” in 2023. If you’re interested in learning more about this game in particular, check out its basics . in this Sky Mavis guide 2) New Mobile Releases https://twitter.com/brycent_/status/1610023543319760899?s=20&t=4snvP1SStWqylu8HpkfAYg&embedable=true A decent smartphone is more affordable than a computer or a gaming console, so mobile games are great for accessibility. One thing I’ve always really enjoyed about Axie Infinity was how you could play it on Android devices (with iOS support coming soon, too), and there’s no doubt we’re going to see more NFT games emulating this approach going forward as mobile gaming activity keeps rising to new heights. One project I’m watching on this front right now is . Treeverse A mobile MMORPG built on Ethereum and headed up by and , Treeverse is currently in limited pre-alpha testing. However the early videos from this testing reveals the makings of a game that not only looks pretty but also looks downright fun in my opinion. Endless Clouds Loopify Bringing fun to more people, and more people into the empowering applications of crypto, is the lodestar for mobile NFT games. I’m really interested to see how Treeverse and other mobile titles like it progress accordingly. 3) Gasless Gaming https://twitter.com/PirateNationNFT/status/1606695161408503810?s=20&t=H2mv3EAg8HV8mX5SgQl0yg&embedable=true Games with lots of on-chain elements can come with lots of transactions and wallet signatures. Lots of transactions and wallet signatures = poor user experience. As such, a new NFT game that’s demonstrating how to provide gasless UX is , an on-chain adventure game built on Polygon. The project uses a that allows Pirate Nation to cover transactions behind the scenes so players don’t have to pay for gas or sign any transactions mid-game. Pirate Nation game wallet system Here’s hoping other web3 games start experiment with this superior UX approach, too! 4) The Arbitrum Gaming Invasion Arbitrum has been the largest and most popular layer-two (L2) Ethereum scaling solution for a while now. Of course, affordable and fast infra is ideal for NFT games. This reality, combined with all the advances yet to come for Arbitrum, makes this L2 fertile ground for a web3 gaming boom. Additionally, projects like have already done much to bring the foundations of a teeming NFT scene to Arbitrum, so the fun looks like it’s just getting started here. That’s true for a title like , a free-to-play RPG that just had an explosive launch and is poised to bring considerable activity to Arbitrum going forward. This is just a taste of what’s to come for this L2, I think. Treasure DAO literally The Beacon https://twitter.com/arbitrum/status/1601244541927186432?s=20&t=yhc7_CPmFErmjSTLs5BAVw&embedable=true 5) More Tournaments The thrill of competition, the glory of skillful wins, the gain of achievements and rewards, and that sense of belonging to a community of passionate peers. are the reasons why players find tournaments so exciting. These So when it comes to NFT games, tournaments are absolutely a great way to offer players fun and compelling experiences on a rolling basis, and I’d love to see more of them accordingly. One project that I think is nailing the tournament approach currently is , which lets players build fantasy decks and then register for a variety of different competitions whenever they’d like. Yes please! Sorare: NBA 6) Flexible Crypto-native Designs Sometimes when NFT games push out updates, the game creators will temporarily pause their contract(s) and players will have to unstake or migrate their gaming assets. This isn’t great UX, right. One game that’s tackling this problem right now is , which is set to launch in April 2023. It’s doing so with the flexible and modular smart contract approach that allows NFT games (among other use cases) to readily extend and update their projects. I’m all in favor of seeing more of this practical approach in the space. Shattered EON Diamond Standard https://twitter.com/CrypMania/status/1607409976481382401?s=20&t=Dp3dI6Bd3xdcaBBE1fK0qw&embedable=true 7) More On-chain Game Engine Experiments By “on-chain game engine,” I mean a series of smart contracts that are created to power a game’s backend indefinitely on a blockchain like Ethereum. https://twitter.com/PirateNationNFT/status/1605663573954412547?s=20&t=tKhe9h9tjSnhhX5PABv6sQ&embedable=true On-chain game engines are interesting because they allow third-party creators to openly build new experiences around and on top of NFT games. This dynamic paves the way to modding, which in turn allows players to actively choose how to want to enjoy and experience their games of choice. There has been lots of interesting work on this front lately. For example, in recent months we’ve seen , , and introduce new on-chain game engines. These are the bloomings of a new field, and the possibilities are wide open here at the moment. Curio Lattice Adam Cochran 8) No-token Games Practically every NFT game to date has embraced ERC20 tokens in some form or fashion. The most popular approaches we’ve seen so far have revolved around single-token or dual-token models. The latter splits out governance and utility matters across separate ERC20s, while the former tries to handle all its needs with just one token. Both these approaches can face major issues, which 0xKepler, one of the great minds in web3 gaming in my opinion, lays out excellently in this thread: https://twitter.com/0xKepler/status/1606253510390972417?s=20&t=4nrewsZ38JQlT8hfMkR8MA&embedable=true As way to avoid these issues, 0xKepler proposes the creation of a that would rely on “off-chain currency + NFTs for value accrual.” no-token model The idea is that players could “mint NFTs against their off-chain currency,” which would mitigate direct fiat exchanges and thus lessen the financial motivations that when unchecked. I think this is a fascinating approach that can lead to funner and more balanced games. I’ll be excited if we start seeing more projects put this strategy into action, because we definitely need more experimentation in this regard. can wreck an NFT game The Future of Fun Awaits 👾 If you’re into NFTs and you’re also a gamer, it’s an incredibly exciting time to be on the ground in the NFT ecosystem. The NFT games scene is still fairly primordial, yes, but in observing here one gets the sense right now that a corner is being turned. Important strides are being made. Where there was once only a few simple NFT game efforts, there are now such titles in various stages of development and with varying complexity levels. many Indeed, the possibilities and the tech are opening up. The gameplay is getting richer, the UX is getting better, our collective infra and collective knowledge are improving in all directions. We’re still far from solving everything in this sector, that’s for sure, but my hope and forecast as an avid gamer and NFTer is we’ll see no shortage of NFT gaming projects continuing to make significant advances in 2023! Author Bio is a professional writer and creator of —a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. He’s also recently been contributing content to Bankless, JPG, and beyond! William M. Peaster Metaversal

The Ultimate NFT Gaming Wishlist for 2023

La lista de deseos definitiva de NFT Gaming para 2023

La liste de souhaits ultime du jeu NFT pour 2023

2023 के लिए अंतिम एनएफटी गेमिंग विशलिस्ट

2023 年の究極の NFT ゲーム ウィッシュリスト

A lista de desejos definitiva de jogos NFT para 2023

Danh sách mong muốn chơi game NFT cuối cùng cho năm 2023

2023 年终极 NFT 游戏愿望清单

Dear Bankless Nation, Happy New Year 🎉 There’s no question that as we look ahead, a lot of talking heads in the crypto space, myself included, think the NFT gaming ecosystem stands to have a big 2023. But what are the sorts of things we want to see in this ecosystem for this big year to come to fruition? Toward that end, I’ve put together a wishlist — 8 rising themes in the NFT gaming sector that I (and maybe soon you too) want to see more of in 2023. Let’s dive in! -WMP 8 web3 gaming themes for 2023 🕹️ 1) Deeper, richer gameplay One reason people love games so much? They allow us to test and hone our skills. Nowhere is this truer than in games that have lots of , i.e. they offer a rich variety of tactical and strategic gameplay possibilities. Anything from Chess to Hearthstone are examples here. depth The NFT gaming ecosystem is growing faster than ever now, but to date many of its early titles have felt “flat” in lacking much to do and thus offering players little in the way of tests of skill. One project working in the right direction here right now is Axie Infinity. In April 2022, Axie creators Sky Mavis unveiled , an optimized version of their original tactical card battler game that introduced card updates, a charms and runes crafting system, and real-time combat. As you can see from the tweet above, these new elements allow players to enjoy a of depth with unique, custom-tailored playing styles. Axie Infinity: Origins lot Of course, Axie Infinity: Origins is still a work in progress itself, but I hope to see more projects following its lead in “going deep” in 2023. If you’re interested in learning more about this game in particular, check out its basics . in this Sky Mavis guide 2) New mobile releases A decent smartphone is more affordable than a computer or a gaming console, so mobile games are great for accessibility. One thing I’ve always really enjoyed about Axie Infinity was how you could play it on Android devices (with iOS support coming soon, too), and there’s no doubt we’re going to see more NFT games emulating this approach going forward as mobile gaming activity keeps rising to new heights. One project I’m watching on this front right now is . Treeverse A mobile MMORPG built on Ethereum and headed up by and Loopify, Treeverse is currently in limited pre-alpha testing. However the early videos from this testing reveals the makings of a game that not only looks pretty but also looks downright fun in my opinion. Endless Clouds Bringing fun to more people, and more people into the empowering applications of crypto, is the lodestar for mobile NFT games. I’m really interested to see how Treeverse and other mobile titles like it progress accordingly. 3) Gasless gaming Games with lots of on-chain elements can come with lots of transactions and wallet signatures. Lots of transactions and wallet signatures = poor user experience. As such, a new NFT game that’s demonstrating how to provide gasless UX is , an on-chain adventure game built on Polygon. The project uses a that allows Pirate Nation to cover transactions behind the scenes so players don’t have to pay for gas or sign any transactions mid-game. Pirate Nation game wallet system Here’s hoping other web3 games start experiment with this superior UX approach, too! 4) The Arbitrum gaming invasion Arbitrum has been the largest and most popular layer-two (L2) Ethereum scaling solution for a while now. Of course, affordable and fast infra is ideal for NFT games. This reality, combined with all the advances yet to come for Arbitrum, makes this L2 fertile ground for a web3 gaming boom. Additionally, projects like have already done much to bring the foundations of a teeming NFT scene to Arbitrum, so the fun looks like it’s just getting started here. That’s true for a title like , a free-to-play RPG that just had an explosive launch and is poised to bring considerable activity to Arbitrum going forward. This is just a taste of what’s to come for this L2, I think. Treasure DAO literally The Beacon 5) More tournaments The thrill of competition, the glory of skillful wins, the gain of achievements and rewards, and that sense of belonging to a community of passionate peers. are the reasons why players find tournaments so exciting. These So when it comes to NFT games, tournaments are absolutely a great way to offer players fun and compelling experiences on a rolling basis, and I’d love to see more of them accordingly. One project that I think is nailing the tournament approach currently is , which lets players build fantasy decks and then register for a variety of different competitions whenever they’d like. Yes please! Sorare: NBA 6) Flexible crypto-native designs Sometimes when NFT games push out updates, the game creators will temporarily pause their contract(s) and players will have to unstake or migrate their gaming assets. This isn’t great UX, right. One game that’s tackling this problem right now is , which is set to launch in April 2023. It’s doing so with the flexible and modular smart contract approach that allows NFT games (among other use cases) to readily extend and update their projects. I’m all in favor of seeing more of this practical approach in the space. Shattered EON Diamond Standard 7) More on-chain game engine experiments By “on-chain game engine,” I mean a series of smart contracts that are created to power a game’s backend indefinitely on a blockchain like Ethereum. On-chain game engines are interesting because they allow third-party creators to openly build new experiences around and on top of NFT games. This dynamic paves the way to modding, which in turn allows players to actively choose how to want to enjoy and experience their games of choice. There has been lots of interesting work on this front lately. For example, in recent months we’ve seen introduce new on-chain game engines. These are the bloomings of a new field, and the possibilities are wide open here at the moment. Curio, Lattice, and Adam Cochran 8) No-token games Practically every NFT game to date has embraced ERC20 tokens in some form or fashion. The most popular approaches we’ve seen so far have revolved around single-token or dual-token models. The latter splits out governance and utility matters across separate ERC20s, while the former tries to handle all its needs with just one token. Both these approaches can face major issues, which 0xKepler, one of the great minds in web3 gaming in my opinion, lays out excellently in this thread: As way to avoid these issues, 0xKepler proposes the creation of a that would rely on “off-chain currency + NFTs for value accrual.” no-token model The idea is that players could “mint NFTs against their off-chain currency,” which would mitigate direct fiat exchanges and thus lessen the financial motivations that when unchecked. I think this is a fascinating approach that can lead to funner and more balanced games. I’ll be excited if we start seeing more projects put this strategy into action, because we definitely need more experimentation in this regard. can wreck an NFT game The future of fun awaits 👾 If you’re into NFTs and you’re also a gamer, it’s an incredibly exciting time to be on the ground in the NFT ecosystem. The NFT games scene is still fairly primordial, yes, but in observing here one gets the sense right now that a corner is being turned. Important strides are being made. Where there was once only a few simple NFT game efforts, there are now such titles in various stages of development and with varying complexity levels. many Indeed, the possibilities and the tech are opening up. The gameplay is getting richer, the UX is getting better, our collective infra and collective knowledge are improving in all directions. We’re still far from solving everything in this sector, that’s for sure, but my hope and forecast as an avid gamer and NFTer is we’ll see no shortage of NFT gaming projects continuing to make significant advances in 2023! Action steps 🕹️ Track and try out interesting games on the NFT frontier like , and beyond Axie Infinity Origins, Treeverse, Pirate Nation, The Beacon, Sorare: NBA 🗓️ Catch up on my if you missed it over the holidays! NFT highlights from 2022 First Published . Here

Stories, News & Mentions about SKY-MAVIS

Sky-mavis’s Stories on HackerNoon

Sky-mavis's News & Mentions