The U.S. Supreme Court has struck down Chevron deference, a doctrine that allowed federal agencies broad discretion in interpreting ambiguous statutes. This decision is seen as a pivotal shift towards greater regulatory clarity and judicial oversight, especially impacting the digital assets sector. Supreme Court Overturns Chevron Deference, Paving Way for Regulatory Clarity in Digital Assets […]
Bitcoin News
Steam’s Clicker Game Sensation Opens Debate About NFTs And Crypto Gaming
A clicker game on Steam recently became the talk of the town after flipping some of the most popular games on the platform. ‘Banana’ became a sensation for its NFT-like rewards, which can be sold for over ,000 on Steam’s marketplace. However, the clicking phenomenon has sparked a debate among crypto community members about the state of crypto and web3 gaming.
Peeling Steam’s Clicker Game Sensation
Banana is an indie game on Steam that consists of clicking the image of a banana to obtain rewards. Although not the first of its kind, its players are rewarded with digital bananas every few hours. Rewards can go from common bananas worth pennies to rare bananas, which can be sold for up to ,300.
The free-to-play game hit the news after it surpassed some of the most popular titles on the platform. Banana flipped Elder Ring and Baldur’s Gate 3 in the most-played games list. The clicker game only came second to Counter-Strike 2.
As of this writing, the game remains the fourth most played game on Steam, with over 344,000 current players and a 578,000 peak in the last 24 hours. Moreover, it reached an all-time peak of 917,000 players earlier this month.
However, the simplicity of the game raised some alarms among gamers. Many believed the clicker game contained malware that turns devices into crypto miners. While others wondered if the game was a scam of sorts.
One of Banana’s developers, Hery, denied the accusations. Hery told news media outlet Polygon that it “is pretty much a stupid game” with bananas, not a scam.
Many users also speculated if the game was related to NFTs and cryptocurrencies, as it had an NFT-like feeling but without the blockchain technology. A Banana team member clarified that “Banana wants nothing to do with crypto.”
They explained that the game had no intention of integrating crypto as it doesn’t “mix well” with Steam. Additionally, they emphasized that it started as “a goofy game to collect some bananas on your Steam profile.”
Are Crypto And Web3 Gaming Going Banana?
Although Banana doesn’t plan on integrating with the crypto industry, the game sparked several conversations among the community. Several members took the opportunity to discuss its implications for web3 gaming.
A user highlighted the game’s popularity despite its simple mechanics, proposing the industry doesn’t need ‘AAA games’ to break out. Several community members agreed and suggested there’s a misconception about the type of games needed in web3.
Although complex and super action games are believed to be the only option, “dudes just wanna have fun and make points,” said an X user. Seemingly, the sentiment among many was that the industry is “making it more complicated than it is.”
Some users believe that Banana and similar games could help with web3 gaming. The meme quality of the game was pointed out as a potential catalyst for broader adoption.
Similarly, this week, Avalanche Gaming discussed Banana’s implications on its Gamified Show. According to Paul Bettner, game developer and co-founder of Playful Studios, Banana could be a getaway to the larger world of crypto gaming.
To Bettner, “the behavior that we all love and participate in web3 as degens and web3 and crypto native users is, in fact, universal.” While watching the phenomenon of Steam’s clicker sensation evolve, the game developer noticed that users were “a bunch of degens that don’t know they’re degens yet.”
Ultimately, he considers that “people are learning how to degen.” If most of these users knew “what a wallet or a blockchain was, they would realize they could do that at 1000x the scale on a blockchain.”
Veterans of Mech Warrior 2, Gears of War and Mortal Kombat Unveil New Beta Phase for Blockchain Game
Studio369 has announced the third Closed Beta (CB3) period for its PvP mech shooter, Metalcore, set to commence on June 27th. This latest beta phase will introduce several new features, including session-based PvP scenarios, a faction war-centric PvE mission, and faction-based social hubs. The update also includes an enhanced in-game economy, allowing players to purchase […]
Bitcoin News
Uniswap Labs Acquires Onchain Survival Experience Crypto: The Game
Uniswap Labs has announced the acquisition of Crypto: The Game (CTG), an onchain experience mimicking mainstream TV shows like Survivor with a crypto element. The experience involves the participation of several contestants in a series of challenges to gain immunity and avoid being voted out. With the acquisition, completed for an undisclosed amount, CTG’s team […]
Bitcoin News
Understanding Notcoin: The Token Behind the Click-to-Mine Telegram Game
This week, the crypto community has been buzzing about a new token called notcoin (NOT), recently launched on The Open Network (TON). This token is tied to a game on Telegram where users earn NOT by completing tasks and clicking a button, featuring a distinctive click-to-mine system. The following is a comprehensive overview of what […]
Bitcoin News
Penguiana Reports New Milestones As PENGU Presale Hits Soft Cap, Teases Play-to-Earn Game Trailer Next Month
PRESS RELEASE. Penguiana (PENGU), a novel penguin-themed meme coin, is making significant waves within the cryptocurrency and Solana meme community. With its presale already raising over 1500 SOL, Penguiana is positioning itself as the next popular meme coin on the Solana blockchain. Penguiana (PENGU) Presale is Up and Running The Penguiana presale showcases the strength […]
Bitcoin News
Gods Unchained Goes Mobile: Play-to-Earn NFT Game Launches on Google Play and Apple App Store
On Thursday, the creators of the Immutable X-powered non-fungible token (NFT) game Gods Unchained announced that the game is now accessible on mobile devices. The Gods Unchained application has made its debut on both the Google Play Store and Apple’s App Store across the globe. God’s Unchained Launches Mobile Application The popular play-to-earn strategy card […]
Bitcoin News
Moonland Web3 Game Targets 100 Million Daily Active Players as it Gears Towards a March Presale. $MTK Airdrop.
PRESS RELEASE. Blockchain gaming showed more resilience in the bear market. As we entered 2024, many including studio executives predicted millions of people would come to Web3 for the sake of gaming. Some of the attributes strengthening this season’s affinity to gaming hype are the anticipation of more commercial releases from beta versions, the launch […]
Bitcoin News
If ZK Is The ‘End Game,’ Is Polygon (MATIC) Ready For $3?
With zero knowledge (ZK) proofs expected to be a game changer for blockchain scaling, Polygon may be on the brink of a major rally. Taking to X on February 2, crypto market commentator Polynya, asserts that ZK technology is the “endgame” as its “1,000x efficiency upside is irresistible for networks.”
Will “ZK” Technology Be The “End Game”?
This forecast on ZK adoption is massive for Polygon and its native token, MATIC, which has been under significant selling pressure in the past few trading months. As it is, Polygon Labs, the developer of the Ethereum sidechain, has been at the forefront, advocating for the development of ZK scaling solutions.
In 2021, Polygon began assembling a team to develop zkEVM, a technique relying on zero knowledge to scale Ethereum cheaply while being compatible with the EVM. Recent Polygon Labs documentation shows that their zkEVM is in beta and being tested.
However, this hasn’t stopped the team from striking deals with layer-1 protocols interested in harnessing this technology.
In mid-January, NEAR Protocol’s Data Availability (DA) solution was integrated with Polygon’s custom blockchain development kit (CDK). The goal was to make it easier for developers to create ZK rollup solutions suitable for their needs while leveraging NEAR Protocol‘s infrastructure. All this is when ensuring the integration lowers cost and improves performance.
Polygon Labs has also partnered with other platforms, including Immutable–a layer-2 web3 solution for NFTs; Ankr–an infrastructure provider; and QuickSwap–a decentralized exchange (DEX). Most of these platforms plan to operate as layer-2s for Ethereum.
The total value locked (TVL) in layer-2 protocols remains in an uptrend, according to L2Beat. These platforms command over billion. So far, the largest layer-2 protocols, Arbitrum, Optimism, and Base, use Optimistic Rollups.
Is Polygon (MATIC) Ready For ?
This is a bullish development for Polygon. Moreover, at this pace, it is likely to cement Ethereum, the pioneer layer-1 and smart contract platform, as a dominant settlement layer despite on-chain scaling concerns and relatively high fees.
From a price point perspective, MATIC will likely benefit as more platforms adopt Polygon’s zkEVM solutions. So far, MATIC is stable but firm when writing on February 2. From the daily chart, MATIC has support at around .70. On the upper end, the immediate resistance level is at .
Spurred by partnerships as more platforms use zkEVM, fundamental developments might drive MATIC even higher in the coming sessions. If MATIC finds momentum, the medium- to long-term target will be , or a 2021 high.
Bitcoin Spot ETF In January 2024: A New Player Just Joined The Game
In the ongoing Spot Bitcoin ETF mania, Pando has joined the race aiming to seize the opportunities that may arise following the potential approval of BTC Spot ETFs by the US SEC.
Pando Submits Spot Bitcoin ETF Filing
Switzerland-based asset management company, Pando Asset has become the latest entrant into the Spot Bitcoin Exchange Traded Fund (ETF) race. The investment firm officially submitted its Spot BTC ETF filing to the United States Securities and Exchange Commission (SEC) on November 29.
The news of the late filing comes as a surprise to the crypto space, as the final dates for the SEC’s decision on the Spot Bitcoin ETF approval approach.
In the filing, Pando Asset provided a lengthy outline of its Spot BTC ETF, PBTC, highlighting its purpose, offerings, net asset value, regulatory compliance, tax considerations, and other factors.
“The Trust was formed as a Delaware statutory trust on November 16, 2023. The purpose of the Trust is to own bitcoin transferred to the Trust in exchange for Shares issued by the Trust. Each Share represents a fractional undivided beneficial interest in the net assets of the Trust. The assets of the Trust consist primarily of bitcoin held by the Bitcoin Custodian on behalf of the Trust,” the filing stated.
Pando’s BTC Spot ETF brings the total number of filed Spot Bitcoin ETFs in the crypto space to 13. Among them are applications from prominent financial institutions such as Grayscale, BlackRock, Ark Invest, WisdomTree, and others.
The crypto space is presently anticipating the approval of these ETFs, as many crypto experts have predicted that a Bitcoin Spot ETF debut could result in massive inflows for BTC which may trigger a bull run.
Spot ETF Approval Prediction
While the crypto community awaits the US SEC’s final verdict on Spot Bitcoin ETF approval, a Bloomberg analyst, James Seyffart has predicted a favorable approval outcome for BTC Spot ETFs.
According to Seyffart, Spot Bitcoin ETFs could see potential approval by January 10, 2024. His prediction has also been backed by another ETF specialist, Senior Bloomberg analyst, Eric Balchunas who gives a strong 90% likelihood for the approval of Spot Bitcoin ETFs.
“People asking me if we changed the odds. No, we are still holding the line at 90% odds of approval by Jan 10 (aka this cycle), the same odds we’ve had for months (before it was cool/safe). What we are watching for now: more amended/final filings to roll in and clarity on in-kind vs cash creates,” Balchunas stated.