Monat: März 2022

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Top 3 crypto alternatives for Axie Infinity you can consider right now

The play-to-earn space of the blockchain ecosystem has seen immense growth over the last few months. In fact, Axie Infinity, which is one of the main projects in play-to-earn, saw massive gains in 2021. Here is why play-to-earn will continue to grow:

  • There is increased integration of blockchain gaming with the metaverse

  • Play-to-earn has also seen increased NFT integration as well.

  • We are likely to see increased institutional capital towards play-to-earn.

So, if you want solid Axie Infinity alternatives, here are the top 3 coins that you consider in the meantime.

Splinterlands (SPS)

Splinterlands (SPS) is largely a collectible card game that involves rapid battles between users as well. In essence, players will get the chance to build a unique collection of cards, each backed by NFTs. They will then try to battle each other in a wide range of skill-based games where winners earn rewards.

Data Source: Tradingview 

It is also possible to buy and sell collectibles within the Splinterlands universe. The native and governance token for the game is called Splintershards, and its current market cap is around $65 million. This suggests it has the potential to go further.

Battle of Guardians (BGS)

Developed by Unreal Engine, Battle of Guardians (BGS) is a multiplayer NFT powered fighting game. It has multi chain capabilities as well since users can access it either via the Binance Smart Chain or Solana. The game offers a truly immersive experience and is one of the most exciting play-to-earn projects in the market right now.

CryptoKitties (WCK)

CryptoKitties (WCK) is a blockchain based game that lets users collect and breed cute digital kitties. All these kitties are backed by NFTs as well. The game has a dedicated catalogue where players can also view and buy kitties that they want. CryptoKitties was released in 2017, and while it was slower to hit the ground running compared to Axie, it has since managed to gain a huge following. 

The post Top 3 crypto alternatives for Axie Infinity you can consider right now appeared first on Coin Journal.

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Wave Financial unveils ADA Yield Fund to support Cardano’s DeFi ecosystem

The ADA Yield Fund starts off with $100 million and will benefit Cardano’s growing decentralised finance (DeFi) ecosystem via liquidity and other resources.

Wave Financial has announced the launch of Wave ADA Yield Fund, a $100 million fund aimed at supporting the Cardano (ADA) blockchain ecosystem.

According to Wave Financial CEO David Siemer, the fund is purely meant for the provision of liquidity and targets decentralised exchanges (DEXs), lending protocols and stablecoin issuers. The fund will also support stake pools in the Cardano DeFi ecosystem.

“Each of these decentralized applications adds to the strong foundation of the Cardano blockchain as it realizes a fully functional and diverse ecosystem,” Siemer said in a press release shared with CoinJournal on Wednesday.

Wave is a Los Angeles-based digital asset investment manager regulated by the US Securities and Exchanges Commission (SEC). The company says the fund is a reflection of its goals in the crypto ecosystem, including support for promising entrepreneurs.  

Cardano’s growing ecosystem is attracting institutional investors

Cardano launched smart contracts capability in 2021 and has over the past several months, seen an explosion of developer activity.  Hundreds have launched via community funding initiatives, according to Charles Hoskinson, the founder of Input Output (IOHK)

But more are at various stages of development, with the ADA fund likely to prove a timely launch. Hoskinson agrees with the sentiment, noting in a statement that the Cardano ecosystem will succeed if projects built on the blockchain thrive.

“So we are pleased that the ADA Yield Fund is committing substantial financial resources to facilitate continued growth and market acceptance,” he added.

Cardano continues to see huge interest from institutional investors, with demand driving on-chain large transaction volumes even higher. Data shows that year-to-date, transactions involving $100k or more in ADA have spiked nearly 50x.

Demand has also seen the launch of ADA-backed exchange-traded products to cater to institutional investors. Just this week, WisdomTree launched a Cardano ETP for the European market.

The post Wave Financial unveils ADA Yield Fund to support Cardano’s DeFi ecosystem appeared first on Coin Journal.

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ECB is open to ‘simplified AML/CFT checks’ for small digital euro payments, official says

ECB Executive Board Member Fabio Panetta’s remarks come just a day to an EU vote likely to introduce KYC/AML checks for all crypto transactions.

The European Central Bank is still considering a central bank digital currency (CBDC) – a digital euro. There has been progress in the project, with consultations taking place since 2020 and gathering speed in recent months.

One of the key concerns remains the “trade-offs” between the need for privacy and adherence to EU financial regulations and policies. While the ECB wants to see greater regulatory compliance, an official has told lawmakers that the rollout of the proposed digital euro could allow for “some degree of privacy” for users.

Still no ‘full anonymity’

Digital euro users will need to comply with know-your-customer (KYC) checks as well adhere to anti-money laundering (AML) regulations. 

However, these requirements might not be cast in stone when it comes to small payments, ECB Executive Board Member Fabio Panetta said on Wednesday.

“Full anonymity is not a viable option from a public policy perspective,” Panetta told the EU parliament’s Economic and Monetary Affairs Committee.

According to Panetta, allowing for complete privacy using the central bank’s digital currency would open the system risks of illicit transactions.

“In addition, it would make it virtually impossible to limit the use of the digital euro as a form of investment,” he added.

‘Simplified AML/CFT’ for small payments

To safeguard financial stability, prohibiting anonymous transactions is essential, the ECB exec explained. But there could yet be a slight ‘break’ from the anti-money laundering and combating of terrorism financing (CFT) norms- if the amounts involved were low value.

“A greater degree of privacy could be considered for lower-value online and offline payments,” Panetta said in a speech he delivered on Wednesday. “These payments could be subject to simplified AML/CFT checks, while higher-value transactions would remain subject to the standard controls,” he added.

The ECB official’s remarks come just a day before EU lawmakers vote on a proposal seeking to remove anonymous crypto payments- even for small transactions. The vote is expected on Thursday. 

If passed, it would mean every crypto transaction would have to adhere to KYC, AML and CFT checks.

The post ECB is open to ‘simplified AML/CFT checks’ for small digital euro payments, official says appeared first on Coin Journal.