Unblock Media

April

Web3

FIFA Rivals: Polkadot Powered P2E Game Launching 2025

7 hours ago

- Blockchain Game FIFA Rivals Born from Collaboration between FIFA and Mythical Games - Launching Summer 2025, available on iOS and Android platforms, powered by the Polkadot network [Unblock Media] A blockchain game titled 'FIFA Rivals,' arising from the collaboration between FIFA and Mythical Games, is set to be launched in the summer of 2025. This free soccer game will be available on iOS and Android platforms, offering gamers the opportunity to manage their own soccer clubs and compete against other players in real-time matches. John Linden, CEO of Mythical Games, is optimistic that this game could attract over 100 million gamers to the Web3 space. This expectation is based on the success of Mythical Games' previous game, NFL Rivals, which recorded over 3 million downloads. NFL Rivals garnered attention shortly after its release, raising the likelihood that FIFA Rivals may achieve similar success. FIFA Rivals will be powered by the Mythos blockchain and the Polkadot network. This allows for a play-to-earn economic system where in-game assets can be owned and monetized. Players can own and trade football players and items through in-game NFTs (non-fungible tokens). The impact of blockchain technology on the gaming industry is noteworthy. For instance, Mythical's early success with Blankos Block Party demonstrates this, as the game currently sees about 3 million transactions per month. Blockchain technology offers new revenue generation opportunities through the pay-to-earn model and enhances user engagement by ensuring ownership of in-game assets. This illustrates how blockchain games like FIFA Rivals differ from traditional games and the new value they provide. Furthermore, FIFA Rivals came to fruition with the support of the Mythos Foundation. Established in October 2022, this organization aims to attract and support new gamers and developers within the Web3 ecosystem. The Mythos Foundation focuses on building cross-chain infrastructure, providing NFT game economies, supporting gaming guilds, and increasing traditional esports involvement in Web3. Finally, Mythical Games secured $37 million through Series C1 funding in June 2023. This fund is primarily used to expand the game's ecosystem and develop new revenue models, including building marketplaces and other income-generating activities. In summary, FIFA Rivals is a project centered on the potential of blockchain games, the new economic systems generated, and the novel experiences it offers gamers. The collaboration between Mythical Games and FIFA is one to watch closely for its prospective success.

Roy

People

Trump nominates pro-cryptocurrency Scott Besent as Treasury Secretary

2024-11-23 08:02

- Trump Nominates Scott Bessent as Treasury Secretary - Bessent Supports Cryptocurrency and Digital Assets [Unblock Media] Recently, U.S. President-elect Donald Trump has nominated hedge fund manager Scott Bessent, who holds a positive stance on cryptocurrency, as Treasury Secretary. If Bessent is confirmed by the Senate, his signature will appear on U.S. currency. Bessent is a fan of digital assets that aim to replace traditional financial systems, which could have significant implications for the cryptocurrency industry. Bessent operates a macro investment firm called Key Square Group and has previously worked with renowned investor George Soros. One of his standout achievements was playing a leading role in the famous bet of Soros Fund Management, which profited over $1 billion by predicting the collapse of the British pound. Currently, Bessent's interest is focused on Bitcoin and the cryptocurrency market at large. In an interview with Fox Business, Bessent said, "I am very excited about Trump's acceptance of cryptocurrency, and I believe it aligns well with Republican values. Cryptocurrency is about freedom, and the crypto economy is here to stay. It is attracting young people and new participants who had not engaged in the market before." This suggests that cryptocurrency and blockchain technology are steadily becoming mainstream. With Bessent's appointment as Treasury Secretary, certain policy changes are anticipated. Given Bessent's repeated expressions of support for deregulation, it is likely that regulatory easing could lead to a rise in Bitcoin prices. The temporary increase in Bitcoin prices following the news of Bessent's nomination is worth noting, as it acts as a positive signal for cryptocurrency investors. Additionally, Bessent was competing with Howard Lutnick, CEO of Cantor Fitzgerald, for the position, although Lutnick ended up being nominated as Secretary of Commerce. Lutnick also has interests in digital assets and has assisted the stablecoin issuer Tether with managing its U.S. Treasury reserve inventory since 2021. Lutnick's nomination as Secretary of Commerce and his experience with cryptocurrency could have a positive impact on the market. His tendency to strengthen the link between cryptocurrency and traditional finance, due to his collaboration with Tether, may increase market stability and attract more traditional investments. Bessent, on the other hand, is regarded as someone who emphasizes the independence of cryptocurrency. With such figures being appointed as leaders of major economic sectors, the cryptocurrency market is likely to receive increased attention. This reinforces the potential of cryptocurrency to replace existing financial systems. Cryptocurrency and blockchain technology are poised to become key elements of financial innovation.

Mark

Market

XRP price soars after SEC chairman resigns

2024-11-22 08:00

- XRP Surges 27% in 24 Hours, Reflecting Growing Confidence in Ripple’s Market Position - Expectations of Regulatory Easing for Cryptocurrency Following SEC Chair’s Resignation [Unblock Media] The recent surge in XRP is closely tied to the announcement of the resignation of Gary Gensler, the Chair of the U.S. Securities and Exchange Commission (SEC). The news of the SEC Chair's resignation has fostered expectations of regulatory easing across the Ripple market, causing a sharp rise in XRP prices. The announcement of Gensler’s resignation has provided significant relief to the XRP community, resulting in a rapid increase in XRP prices. Recently, XRP’s value surged by 27%, making it the sixth-largest digital asset by market capitalization. At the same time, a significant wave of liquidations occurred in the leveraged cryptocurrency market recently. A considerable amount of funds has been liquidated in the XRP leverage market, causing a short squeeze phenomenon that has accelerated the rise in XRP prices. This uptrend continued as many traders, anticipating higher prices for XRP, broke through the symmetrical triangle pattern. The RSI for XRP exceeded 70%, indicating entry into the overbought zone. Historically, similar overbought indicators have led to short-term corrections, necessitating caution. However, fluctuations may occur depending on the outcome of Ripple's lawsuit with the SEC. Expectations of regulatory easing due to the change of the SEC Chair have increased market confidence in XRP. Many investors are hopeful that new regulations will be more flexible. Lastly, another analysis on why Ripple’s XRP price has surged points to active accumulation by "whales." This reflects the anticipation of large investors for future price increases in XRP. More cryptocurrency traders are closely watching XRP’s market trends, looking for opportunities. Currently, XRP of Ripple are experiencing strong upward momentum and attracting significant market attention. It remains to be seen whether this uptrend will continue.

Max

Market

BlackRock Bitcoin Spot ETF Launch: $170K BTC in Sight?

2024-11-22 06:18

- BlackRock's Bitcoin Spot ETF Option Debut Records $1.9 Billion in Trading Volume - The biggest question: Will IBIT options activity push Bitcoin to $170K?, Traders Place High-Risk Bets [Unblock Media] The Bitcoin spot ETF option (iShares Bitcoin Trust, IBIT) from BlackRock was launched on November 19, and it recorded a trading volume of $1.9 billion on its first trading day. Several analysts on the X platform evaluated this launch as a success, noting a significant imbalance in option contracts. There were 288,740 call (buy) options compared to 64,970 put (sell) options, with call options outnumbering put options by 4.4 times. This indicates that traders are anticipating a rise in Bitcoin prices. Some contracts project Bitcoin surpassing $170K. Although some low-cost option traders are hoping for a dramatic increase in Bitcoin’s price, the likelihood of it reaching $170K is very slim. Options are financial instruments used to hedge risk or bet on price movements without directly purchasing the stock. There were 9,500 contracts for the December 20 expiration $100 call option, priced at just $0.15 each, indicating a bet on a surge in Bitcoin's price, albeit at a very low cost. According to "CoinDesk," the increased participation of institutional investors in the options market was cited as a primary reason for the price rise expectations. "CryptoSlate" data also indicated a high correlation between option market data, open interest, and Bitcoin price volatility. Meanwhile, advanced traders can use various strategies to capitalize on expected Bitcoin price increases. Strategies like 'synthetic long' or 'covered call' allow for trading as if owning Bitcoin without actually holding it. A 'bull call spread' strategy predicts future price movements of the futures. By buying a $53 call for $6.20 and selling a $58 call for $4.10, the net cost is $2.10. If Bitcoin reaches $58, this strategy yields a profit of $2.90. In summary, there is an outstanding question of whether IBIT's option activity can push Bitcoin to $170K. This price prediction is extremely rare and driven by high-risk, high-reward trades. For February and May 2025 IBIT contracts, the call-to-put ratio was 6.7:1, indicating considerable speculative betting. However, the probability of reaching such a high figure is low. There is also curiosity regarding how many IBIT shares are allocated per Bitcoin. While options allow for potential high returns with small investments, they can expire worthless if the expectations are not met. Bitcoin spot ETFs and their options offer new ways to generate income, but understanding the mechanisms and probabilities is crucial.

Mark

People

Teenager Behind Solana Meme Coin Executes Public Rug Pull

2024-11-21 06:23

- A meme coin issued by a teenager on Solana reached a market cap of $1 million, after which the tokens were entirely sold off, resulting in a rug pull. - Following this, two additional meme coins were issued, achieved market caps, and were subsequently rug-pulled. [Unblock Media] A shocking incident involving a Solana meme coin recently occurred. The coin’s developer, allegedly a 12-year-old boy, dumped his tokens after the coin’s market cap reached 1 million dollars, deceiving investors. This type of scam is known as a 'rug pull,' where cryptocurrency project developers abruptly withdraw all funds, causing losses to investors. The incident gained further attention as the boy reportedly gained around 30,000 dollars and created a ruckus on a live stream, garnering strong reactions from viewers and traders. The incident quickly spread online, leading to a sharp rise in QUANT's market cap to as high as 85 million dollars. Interestingly, this event was not easily forgotten. Popular streamer xQc mentioned the incident multiple times during his live broadcasts, witnessed by hundreds of thousands of viewers each time. xQc’s audience showed strong curiosity and interest, which further directed attention towards the QUANT coin. Clips from xQc's broadcasts went viral on Twitter and YouTube, significantly resonating within the cryptocurrency community. Unlike other meme coins that attracted attention through sexual or extreme behavior, QUANT drew interest through humor and viral effects. This incident exemplifies how investor sentiment in the cryptocurrency market can easily shift, especially in the meme coin market, which is highly emotional and reactive. According to a report by CoinDesk, trading volumes for similar meme coins like Dogecoin and Shiba Inu also surged in the three months following the QUANT incident, reflecting the tendency of cryptocurrency investors to act based on FOMO (Fear of Missing Out). After this incident, the boy created another token named ‘I'm Sorry,’ which achieved a market cap of 4.5 million dollars. He sold it off at approximately 400,000 dollars, earning around 13,000 dollars. He then launched another token called ‘Lucy’ after his dog, reaching a market cap of 3.8 million dollars and selling off 20,300 dollars worth of the supply at around a 700,000-dollar market cap. In conclusion, this event serves as a reminder of the extreme volatility and various risks inherent in the meme coin market. Such incidents highlight the potential dangers within the realm of blockchain technology and serve to alert investors to these risks.