Schlagwort: crypto business

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Fantasy NFT trading platform Sorare Partners With Major League Baseball

Sorare, a fantasy football game that allows players to trade, sell, buy, and manage their virtual team with digital player cards, has announced that it has partnered with Major League Baseball (MLB). 

Sorare platform is one of the largest fantasy NFT platforms and it was valued at $4.3 billion last year.

MLB will allow its players to work together with Sorare to launch the first MLB NFT game (free-to-earn) that is expected to be released this summer.

NFT Baseball game to offer more exclusive features

As the official MLB partner, the Sorare platform will enable its fans to share and celebrate their passion through gaming. This will be the first gaming venture that Sorare has ever had beyond football.

Sorare co-founder and chief executive officer, Nicolas Julia, said:

‘’MLB has been at the forefront of interactive games for decades, while baseball has some of the oldest and most established forms of sports memorabilia. Today, as digital engagement and technology evolves for a new generation, our partnership will help a new and broader fanbase to connect with America’s pastime…The connection between Americans and baseball is enduring. And baseball has always been on the cutting edge of new technologies and innovations, so we’re proud that MLB and the MLBPA have chosen Sorare to deliver an NFT MLB Game to fans globally.”

The MLB game will allow their fans to create the best NFT teams that represent Major League players and connect with clubs, athletes, and leagues in a live Baseball game experience.

Besides, Sorare has been making progressive moves from the beginning developing some experiences that go beyond the collection of NFTs. Sorare has also been developing these experiences by combining the digital assets with free-to-play games so that the fans can be able to manage their favorite players as well as win weekly rewards and unlock utility for NFTs.

Involving the fans

With the new Baseball NFT game, there is a great opportunity for the league to attract new fans across the world as well as introduce the existing baseball fans to the other group of 1.8 million registered Sorare users across 185 countries.

Commissioner of Baseball, Robert D. Manfred Jr, said:

“The connections we build with our fans are vital and Sorare understands the importance of that bond.” 

The post Fantasy NFT trading platform Sorare Partners With Major League Baseball appeared first on Coin Journal.

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Terra blockchain restarts after a brief halt

Validators had halted the blockchain to prevent governance attacks as LUNA price moved towards zero.

Terra validators on Thursday moved to halt the blockchain as they looked to prevent any possible governance attacks, the Terra Twitter account noted.

Per the platform, the network was “officially halted at a block height of 7603700” with validatoes electing to take the step “following severe $LUNA inflation and a significantly reduced cost of attack.”

“The Terra blockchain has resumed block production. Delegations are disabled now that the chain is live with the new code merge. Validators, please check the Discord announcements for the latest patch notes,” Terraform Labs tweeted not long after the halt.

As it was, Terra’s depreciation had made it possibly very easy for malicious actors to attack the network.

The LUNA token price has tanked to $0.01, losing virtually 100% of its value in the past few days, with the ‘death’ of the coin coming amid a combination of a broader crypto crash and the collapse of the UST stablecoin after it lost its dollar peg.

TerraUSD (UST) is currently around $0.34 and is finding it hard to repeg even as Terraform Labs and the Luna Foundation Guard work to rescue the coin.

The post Terra blockchain restarts after a brief halt appeared first on Coin Journal.

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SEC official says tougher US stablecoin regulations ‘closer’

US Securities and Exchange Commission (SEC) commissioner Hester Peirce has said that the stablecoin market has attracted a lot of attention this past week and that the sector could be looking at “stricter” regulations.

The top SEC official said this in comments made during an online discussion organised by the Official Monetary and Financial Institutions Forum (OMFIF). This is an independent think tank on central banking and economic policy headquartered in London, UK.

A news report by Reuters quotes the SEC official as saying that one place likely to “see some movement is around stablecoins.” She added that this follows events this week that have helped shine a spotlight on the sector.

Hester’s comments came at OMFIF’s annual Digital Monetary Institute symposium, whose panel also included Algorand CEO Steve Kokinos and former CFTC chair Timothy Massad.

UST depeg and LUNA’s collapse

Indeed, this week has seen the cryptocurrency market rocked by the crushing loss of dollar parity by the stablecoin TerraUSD (USD). The UST token fell as low as $0.25, losing its peg to the dollar by 75% amid rumours of a coordinated attack.

Apart from that, the algorithmic stablecoin’s depegging has sent the Terra (LUNA) coin to near zero (currently at $0.01), and a cascade of sell-off pressure has also pushed Bitcoin price to lows last seen in January 2021.

And with the stablecoin turmoil also seeing Tether (USDT) lose its peg earlier on Thursday, a tougher regulatory framework could be ‘closer’ indeed.

The post SEC official says tougher US stablecoin regulations ‘closer’ appeared first on Coin Journal.

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Top 3 cryptocurrencies to buy amid the crypto crash

It is a sea of red in the cryptocurrency industry as most digital coins keep falling. According to CoinGecko, the total market value of all digital coins has dropped to more than $1.2 billion. While this crash has been painful, it has made many cryptocurrencies significantly cheaper. So, here are some cryptocurrencies to buy the dip in.

Ethereum

The Terra UST crash is one of the most important reasons why cryptocurrencies have fallen. In my view, the fall of LUNA will likely bring more people and developers back to Ethereum. For one, Ethereum is significantly bigger than Terra and has been around for years. 

Also, the success of Ethereum’s platform is not based on a single stablecoin like that of Terra. This explains why Ethereum has done well over the years even after some serious hacks in the network.

Further, Ethereum is in a transition as the developers seek to make it significantly faster and more environmentally friendly. Therefore, I expect that the Ethereum price will bounce back ahead of the Merge that will happen in the third quarter.

Here’s how to buy Ethereum.

Near Protocol

Near Protocol is another cryptocurrency to buy the dip in. It is a blockchain project that seeks to become a better platform for developers. It aims to be a platform that is better and more reliable than Ethereum and other proof-of-work platforms. It does this using its technology known as sharding. 

Near Protocol is a good investment because of the ongoing growth of its ecosystem. The developers are also seeking to launch their stablecoin, which will be used for governance of the network. Now, with the implosion of Terra UST, there is a likelihood that the developers will use these lessons when they launch it. 

Near Protocol is also a good investment because of the large sums that the developers have raised recently. Most of these funds will go towards building their ecosystem.

Chainlink

A fact in the blockchain industry is that industries like DeFi and the metaverse are here to stay. This is what makes Chainlink one of the best coins to buy the dip in. This is simply because the platform is widely used by developers to connect off-chain data to on-chain. 

It is the biggest oracle in the world and has little competition. Therefore, with Chainlink price down by 86% from its all-time high, there is a likelihood that the price will bounce back.

Learn more about how to buy Chainlink.

The post Top 3 cryptocurrencies to buy amid the crypto crash appeared first on Coin Journal.

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Cardano (ADA) hits new lows – Why the worse is still to come

As the crypto market experiences one of its worst crashes in recent years, Cardano (ADA) has hit a new low. The coin has fallen below $0.5 for the first time in months. Although this is already bad news, the worse is yet to come for ADA. Here is what you need to keep in mind:

  • In the last 24 hours alone, ADA has crashed by over 30%

  • It’s the first time in months that Cardano has breached the $0.5 mark

  • More losses are expected to come as the broader market faces a steep correction

Data Source: Tradingview 

Cardano price analysis – Difficult times ahead

After falling nearly 65% from its highs in May, you would think that the worse is over for ADA. But the current bearish trend around the coin is only getting started. In fact, after falling below $0.5 for the first time in months, we expect the coin to continue the steep decline. 

It is possible that ADA will bottom towards its next $0.35 support before it tries to find any demand. This will represent a fall of around 25% from the current price. ADA would also lose over 100% in value from its highest price this month. 

The only positive sign in this setup is the RSI reading. This momentum indicator for ADA has moved towards the oversold territory. The risk of a big sell-off is therefore relatively limited. But as investor sentiment in crypto wanes, it will be harder to find ADA buyers in the coming days.

Should you hold or Sell ADA?

As Cardano accelerates losses, it can be easy just to sell off and limit your exposure. But we still think that ADA is one of the few coins in the market worth holding. Even though the coin will not return to $1 soon, we expect it to retest $0.75 after it bottoms at $0.35.

The post Cardano (ADA) hits new lows – Why the worse is still to come appeared first on Coin Journal.