Monat: September 2022

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SkyBridge Capital invests in P2E gaming studio Vulcan Forged

Vulcan Forged will use the funding to expand operations in North America.

Global investment firm SkyBridge Capital led an $8 million Series A funding round for blockchain game studio Vulcan Forged, the firms have announced.

The financing round also includes the option for a further $33 million investment, according to a press release from SkyBridge Capital. Vulcan Forged also confirmed the announcement via its official Twitter account.

Strategic investment from Anthony Scaramucci firm

Jamie Thomson, the founder and CEO of Vulcan Forged sees this a strategic investment that has come at a “perfect time” for it and the company will capitalise on it to continue its growth momentum.

In particular, Vulcan Forged, also a leading decentralised applications (dApps) incubator, will use the funding to accelerate growth of its metaverse-as-a-service engine dubbed MetaScapes. 

As per the play-to-earn gaming company, the funds will help it scale its operations across North America and other key markets. Part of the expansion will see the company open a new office in New York City.

Vulcan Forged has released some top web3 game titles, including VulcanVerse, Berserk and Forge Arena, and looks to extend its reach with new ventures across the metaverse space with MetsScapes.

“Vulcan Forged and their MetaScapes engine are well-positioned to completely disrupt the legacy gaming and entertainment industries and we are excited to help take them to the next level,” said Anthony Scaramucci, the founder and managing partner at SkyBridge Capital.

Elysium is a proof-of-stake (PoS) blockchain platform Vulcan Forged launched in 2021. The highly scalable platform with low gas fees, is purpose-built for decentralised applications, gaming, and NFTs and other metaverse features.

The post SkyBridge Capital invests in P2E gaming studio Vulcan Forged appeared first on CoinJournal.

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The EOS Network successfully completes its consensus upgrade to Antelope Leap 3.1

EOS’s latest Antelope Protocol update cuts the EOS Network Foundation’s ties to Block.one and Bullish.

The EOS Network announced in a blog post on Wednesday, September 21st, that it has successfully completed its consensus upgrade to Antelope Leap 3.1.

This latest development means that the EOS Network is no longer tied to Block.one and Bullish.

Block.one was the team behind the development of the EOS blockchain when it was launched a few years ago. EOS was previously one of the top 10 cryptocurrencies by market cap but has failed to keep up with the competition over the last two years.

According to the team, the switch to Antelope Leap 3.1 will see EOS block producers who operate the public network formally adopt code solely developed under the helm of the EOS Network Foundation (ENF). 

The code for the EOSIO public network was maintained by Block.one, later acquired by digital asset exchange Bullish. 

Antelope is an open framework for building fast, secure, and user-friendly Web3 products and services.

While commenting on this latest development, Yves La Rose, CEO, EOS Network Foundation said;

“Today is the hard-won culmination of our efforts to secure independence for the EOS blockchain. Thanks to the EOS Block Producers—through their trust, support, and their technical prowess, the ENF has been able to proceed unhindered in our mission to deliver value to the EOS Network. Thanks to a diverse and resilient community, the momentum we have been steadily building, is now a force to be reckoned with. This is a great victory, but we can’t bask in our own glory for long, we have to keep moving! What becomes of EOS next, is what we make of it.”

The EOS community decided to move away from the EOSIO code following the resignation of Dan Larimer, the project’s loss of core engineers, a short-lived EOSIO for Business campaign, and the switch of several EOSIO engineers to Bullish related development.

EOS is up by more than 1% in the last 24 hours and is trading at $1.28 per coin. At press time, EOS occupies the 41st place in the cryptocurrency market in terms of market cap.

The post The EOS Network successfully completes its consensus upgrade to Antelope Leap 3.1 appeared first on CoinJournal.

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When should I buy Binance Coin?

Binance Coin price lost momentum this year as momentum in the cryptocurrency industry wanes. The BNB price crashed to a low of $183, which was about 61% from the highest level in 2021. It has fallen by 48% this year, meaning that it has done better than other popular coins like BTC and ETH.

BNB ecosystem challenges

Binance Coin is the native cryptocurrency for the BNB Smart Chain network. It is an Ethereum rival that is widely used by developers building decentralized applications (dApps) in all industries like DeFi, games, and non-fungible tokens (NFT).

BNB Chain has been used to build some of the best-known applications in the Web3 industry. For example, it was used to build apps like PancakeSwap, ApeSwap, Bogged Finance, and MOBOX. Other platforms built in BNB Chain are Venus, Alpaca Finance, and Cream Finance among others.

There are several reasons why the Binance Coin price has dropped this year. First, it retreated because of the soaring inflation in key countries like the United States and the UK. As a result, central banks have been forced to hike interest rates. 

The Fed has hiked by 225 basis points this year while the Bank of England has hiked six times. Historically, cryptocurrency prices underperform in a period of high-interest rates. 

Binance Coin price also crashed as the total value locked (TVL) dropped from more than $21 billion to $5.2 billion. As a result, it was overtaken by Tron and is now the third-biggest smart contract platform in the world.

In addition, the BNB price dropped because of the underwhelming performance of the metaverse. After soaring in 2021, the metaverse has struggled this year, with projects like Sandbox and Decentraland losing momentum. BNB Chain was seen as a key player in the metaverse industry.

Binance Coin price prediction

The daily chart shows that the BNB price has been in a bearish trend in the past few weeks. In this period, the coin has crashed from a high of $337 in August to a low of $267. It has formed what looks like an inverted head and shoulders pattern.

Binance Coin price has also formed what looks like a falling wedge pattern, which is usually a bullish sign. Therefore, there is a likelihood that the coin will bounce back in the coming weeks. As such, you should buy BNB when it moves above the key resistance at $337.

How to buy Binance Coin

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

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Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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The post When should I buy Binance Coin? appeared first on CoinJournal.