PRESS RELEASE. Casinobello.com, a Curacao-licensed online casino, is thrilled to gain the biggest popularity in its history and become one of the leading destinations for crypto-savvy iGaming users. With a strong presence in Germany, Austria, Switzerland, Italy, New Zealand, Canada, and Australia, Casinobello is pioneering the integration of cryptocurrency into the online gaming world to […]
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DeFi And Web3 Gaming Dominate Q1: Record Transactions Leave Stablecoins In The Dust, Report
In a recent report published by QuickNode, the first quarter of 2024 showed the dominance of decentralized finance (DeFi) and the notable growth of Web3 gaming in the crypto industry, which outperformed the stablecoin sector in key metrics, indicating investor preference and market sentiment during this period.
Hopes For Second ‘DeFi Summer’
Per the report, DeFi experienced a significant resurgence in Q1’24, fueled by a surge in developer and user activity, particularly on chains like Solana (SOL) and Base.
This resurgence has sparked growing hopes of a second ‘DeFi Summer,’ as DeFi projects embrace new concepts such as staking, liquid staking, restaking, and liquid restaking, which have been catalysts for its growth. Notably, staking now represents a substantial portion of DeFi’s Total Value Locked (TVL).
While stablecoins remain the top spot for address activity, DeFi surpassed stablecoins in an essential metric: transaction counts.
DeFi emerged as the leader in transactions for Q1’24, averaging nearly 7 million daily transactions. Furthermore, DeFi led in fees spent, gas usage, and the overall number of projects despite comprising only approximately 4% of the total crypto market cap.
The TVL for yield-generating protocols within DeFi witnessed steady growth, climbing from .5 billion in Q3’23 to .7 billion in Q1’24. According to QuickNode, this rally signifies a return of confidence and liquidity to the DeFi markets as investors seek opportunities for yield generation.
Players Take Control With Web3 Gaming
In parallel, Web3-based gaming has emerged as a significant departure from conventional gaming platforms. By leveraging cryptocurrencies and non-fungible tokens (NFTs), Web3 gaming offers players new and decentralized gaming.
Players now have the opportunity to actively participate in games and earn rewards, shifting control away from centralized entities within the gaming ecosystem.
The report highlights the growth of Web3 gaming, surpassing stablecoins in transaction volume and achieving the highest year-over-year (YoY) active address growth across all categories, with a 155% increase in active addresses during Q1 ’24.
This surge in player engagement and participation is evident through the exponential growth of transactions within Web3 gaming, which experienced a staggering 370% YoY increase.
The Appeal Of Stablecoins
Although stablecoins continue to lead in daily active users, representing over 41% of all Web3 user activity, other categories have shown higher quarter-over-quarter (QoQ) activity growth, indicating potential catch-up.
Tether’s USDT remains the dominant stablecoin, controlling approximately 75% of the market cap. Notably, Circle’s USDC has taken the lead in volume and average transaction size, partly due to Coinbase’s efforts to integrate USDC on its platform and promote its use on its Layer 2 network, Base.
In addition, the report notes that stablecoins have proven attractive to both new and experienced users, offering stability and value predictability, especially during periods of market uncertainty.
QuickNode attributes the surge in stablecoin user activity in Q1’24 to several factors, including the approval and listing of spot Bitcoin ETFs in the US, the anticipation of Bitcoin’s next Halving event, the devaluation of fiat currencies, the popularity of low-volatility assets, and the strength of the USD, to which over 90% of stablecoin transactions are anchored.
Featured image from Shutterstock, chart from TradingView.com
Mysten Labs Announces Suiplay0x1, a Web3 Enabled Gaming Handheld
Mysten Labs, the company behind the development of Sui, a proof-of-stake blockchain project, has announced it is working on developing Suiplay0x1, a Web3-enabled gaming handheld. The organization did not reveal hardware specs but did state that the device would be able to run several app stores at once thanks to Playtron’s Playtronos, a device-agnostic gaming […]
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GAIMIN and io.net Agree to Collaborate on the Powering of Cloud Gaming
PRESS RELEASE. GAIMIN (www.gaimin.io), the world’s leader in delivering decentralised data processing power through gaimin.cloud (www.gaimin.cloud), and io.net (www.io.net) one of the world’s largest Decentralized Physical Infrastructure Network (DePIN) for AI compute have agreed to investigate how the synergistic technologies from both companies can be integrated to deliver the processing capability to support the growing […]
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GAIMIN – Delivering Web3 to the Gaming Ecosystem
GAIMIN is creating the world’s largest GPU-based DePIN to address the increasing worldwide demand for data processing power. GAIMIN’s DePIN, called gaimin.cloud, currently focuses on delivering data processing services for Artificial Intelligence (AI), Video Rendering (VR) and the powering of blockchain computations. GAIMIN’s approach is based on users allowing their devices to participate in GAIMIN’s […]
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‘Web3 Gaming Offers a Pathway to a More Inclusive and Vibrant Gaming Ecosystem’ — Weiwei Geng
While the traditional gaming industry’s free-to-play model is largely credited for its past and projected success, on the downside this model only prioritizes building games that “optimize for addiction and profit maximisation” rather than “innovative entertainment,” Weiwei Geng, the CEO of Taki Games, has argued. The Blockchain Can Revolutionize the Gaming Landscape According to Geng, […]
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GAIMIN Announces the World’s First L2 Gaming Blockchain on BNB Chain
GAIMIN, the world’s leading provider of DePIN (Decentralised Physical Infrastructure Networks) today announces the world’s first L2 blockchain focused on delivering Web3 technology and services to the gaming industry. The incorporation of Web3 technologies, such as blockchain, crypto currency based economies and owner retained NFTs within the gaming industry has been slow to develop, primarily […]
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Crypto Analyst Unveils The Best Gaming Altcoins For This Bull Run
Miles Deutscher, a renowned crypto analyst on X (formerly Twitter), recently announced the onset of what is poised to be the most monumental bull run in the history of crypto gaming. Deutscher’s commentary comes at a time when the sector is witnessing unprecedented growth, with notable milestones such as the fourfold increase in value of Heroes of Mavia since its launch, and the introduction of Gunzilla Games on the XBOX platform.
2024: A Breakout Year For Crypto Gaming?
These developments have contributed to the gaming market cap reaching a staggering billion, signaling the early stages of a significant market shift. “The total gaming market cap just hit B,” Deutscher observed, indicating that these early achievements might only be the beginning of a larger trend.
The biggest bull run in crypto gaming history is about to begin.$MAVIA set the tone, but it's only one of many high-profile launches coming this year.
If you want to capitalise, this thread is for you.
: My ULTIMATE crypto gaming guide (full strategy + top altcoin picks).
— Miles Deutscher (@milesdeutscher) February 12, 2024
With the global gaming industry expected to accumulate 3 billion in revenue by 2028, surpassing the combined value of the film and music industries, the potential for crypto’s integration into this vast market is immense. Deutscher articulates the unique proposition of crypto in gaming: “The ability to have true, verifiable ownership over in-game assets and financially reward users,” highlighting the transformative potential of blockchain technology in creating a new gaming economy.
Central to Deutscher’s bullish outlook on crypto gaming is its accessibility, the incentive for engagement, and the potential to onboard millions of new users to blockchain technology. “Gaming has all 3 of these traits,” he asserts, suggesting that the sector is at a pivotal moment of growth and adoption. The significant investments made in 2021 and 2022 are starting to bear fruit, with the sector’s rapid expansion, particularly in mobile gaming, serving as a catalyst for widespread adoption.
Mobile gaming, according to Deutscher, offers a “less-intimidating gateway to crypto,” potentially mainstreaming blockchain technology through gaming.
Detailing his investment strategy, Deutscher recommends a tiered approach encompassing gaming infrastructure, studios, and individual games. This strategy aims to balance risk and reward across the sector’s diverse landscape. “At the base, is gaming infrastructure (lower risk, lower reward). In the middle, is the gaming studios (medium risk, medium reward). At the summit, are the individual crypto games (high risk, high reward),” he explains.
Best Gaming Altcoins In 2024
Deutscher’s top recommendations within the crypto gaming ecosystem include:
- Immutable (IMX): Positioned as a foundational investment in gaming infrastructure, Immutable stands out for its Layer-2 scaling solutions that support high-budget games. Deutscher cites VanEck’s prediction, “A breakout blockchain game may surpass 1 million daily players. Immutable X is poised to climb market cap ranks with key releases and the Immutable Passport, streamlining wallet usage and enabling wider adoption,” underscoring its potential for significant growth.
- Vulcan Forged: This blockchain gaming ecosystem, featuring Vulcan Studios and Elysium, a carbon-neutral Layer-1 blockchain, is noted for its comprehensive approach and continuous product launches. Deutscher commends the team for their innovation and contribution to the ecosystem.
- Echelon (PRIME): Known for hosting one of the most successful crypto card games, Echelon is spotlighted for its expansive gaming studio, Parallel Finance, and its ambitious plans to release more games, with its ecosystem token, PRIME, at the economic core.
- Merit Circle: Positioned as a top bet in gaming infrastructure, Merit Circle stands out for its development of gaming SDKs (Software Development Kits), which streamline game development processes. Its first game, Forgotten Playland, is highlighted as a promising upcoming launch.
- Heroes of Mavia (MAVIA): Garnering over 1 million downloads, Mavia is underscored for its significant impact in the mobile gaming sector, offering simple yet addictive gameplay. Its token performance post-launch and the strategy to accumulate on major dips are highlighted.
- SHRAPNEL (SHRAP): A competitive first-person shooting game built on the Avalanche blockchain, SHRAPNEL is distinguished for its high-quality graphics and successful pre-alpha launch, alongside significant funding that underscores its potential in the gaming market.
- Nakamoto Games (NAKA): A gaming studio with a portfolio of over 200 games, emphasizing a mobile-first approach and a strong, engaged community. Nakamoto Games is recognized for its ability to cater to a broad audience with its diverse gaming options.
Furthermore, Deutscher casts a spotlight on forthcoming launches such as Aether Games and Blood Loop, anticipated to significantly impact the sector. He speculates, “It’s highly likely that crypto’s next AAA gaming title hasn’t even launched yet,” promising to keep his followers abreast of potential gems in the evolving market.
At press time, MAVIA traded at .38.
Playdapp Breach: Hacker Mints Tokens Worth $31 Million, Gaming Platform Offers Reward for Silence
Playdapp, a Web3 gaming platform, recently confirmed that it was a victim of a hacking incident which saw criminals mint tokens worth approximately million. Playdapp said it has offered to reward the hackers if they agree to return the stolen assets and contracts. Crypto Exchanges Urged to Block Compromised PLA Tokens Playdapp, a Web3 […]
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LBank Launches Oasys: Revolutionizing the Blockchain Gaming Industry
PRESS RELEASE. LBank, a leading global digital asset trading platform, proudly announces the integration of Oasys into its diverse trading portfolio. This strategic move not only enhances LBank’s offering in the blockchain gaming sector but also marks a significant milestone for Oasys, heralding a new era in the blockchain gaming revolution.
Oasys: A New Paradigm in Blockchain Gaming
At the heart of Oasys lies its innovative vision, “Blockchain for Games,” which positions it as a forerunner in the blockchain gaming industry. Oasys stands out with its pioneering multi-layer economy, designed to optimize gaming experiences and transaction efficiency. This unique approach differentiates Oasys from its competitors, highlighting its commitment to advancing blockchain technology in the gaming world.
Partnerships Elevating Oasys’ Industry Stature
Oasys’s impressive alliance with gaming giants such as SEGA, Square Enix, Ubisoft, Netmarble, Com2uS, and Bandai Namco, along with telecom behemoths Softbank, Docomo, and KDDI, is a testament to its industry credibility. These collaborations not only reinforce Oasys’s standing but also exhibit the widespread confidence in its vision and technology.
Oasys’s Market Influence and Token Performance
In the realm of market dominance, Oasys’s impact in Japan, the world’s third-largest gaming market, is particularly noteworthy. The exceptional performance of the $OAS token over the past quarter reflects growing investor trust and interest in the Oasys ecosystem. The success of various game titles on Oasys has been a key driver of this positive trend.
Game Titles and Demand: A Testament to Oasys’s Success
Oasys’s foray into game titles like Chain Colosseum Phoenix and Ubisoft’s Champions Tactics has met with phenomenal success, evident from the sold-out NFTs worth .8 million and the sustained popularity of these games. The anticipation surrounding the upcoming release of Battle of Three Kingdoms, utilizing the IP from SEGA, further underscores the platform’s impactful presence in the gaming community.
Oasys’s Remarkable Achievements and Future Prospects
The year 2022 and 2023 have been pivotal for Oasys, marked by the launch of its Mainnet and listings on prominent exchanges. The ”Oasys Special Event in Kyoto” highlighted its expanding game repertoire, showcasing its appeal among leading game developers. Looking ahead, the OasysDragon update promises to enrich the blockchain gaming experience through enhanced interoperability, ecosystem development, and high-quality content.
“Oasys is at the forefront of blockchain gaming innovation, revolutionizing the industry with strategic partnerships with leading game developers such as SEGA and Ubisoft. The gaming sector has the highest growth potential in the crypto industry, and Oasys is a hidden gem with extremely strong fundamentals. Stay tuned!” Daiki Moriyama – the director of Oasys
The Pivotal Role of OAS Tokens in the Oasys Ecosystem
The OAS token, integral to the Oasys ecosystem, serves multiple roles, from facilitating transactions to enabling decentralized governance. The double-layer architecture of Oasys, supported by the OAS token, ensures flexibility and encourages innovation within the network. This, coupled with the integration of Tealswap for asset transfers, demonstrates the token’s central role in driving growth and facilitating seamless interactions across the ecosystem.
LBank’s introduction of Oasys is more than just an addition to its trading platform; it represents a commitment to pioneering innovation in the blockchain gaming sector. This collaboration paves the way for traders and gaming enthusiasts alike to be part of a groundbreaking journey with Oasys. As we welcome Oasys to the LBank family, we eagerly anticipate the new heights this partnership will achieve in reshaping the landscape of blockchain gaming.
Learn More about OAS Token:
Official Website: https://www.oasys.games/
Explorer: https://explorer.oasys.games/
Twitter: https://twitter.com/oasys_games
Discord: https://discord.com/invite/oasysgames
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.