DeFi

Why Arbitrum could flood crypto games with $200 million – DL News

Published

8 months ago

6 June, 2024

CoinFlix Staff

Arbitrum DAO has $3 billion and wants to shop from Big Tech's playbook – DL News

Arbitrum DAO votes on proposal to create $200 million gaming catalyst program.
Critics have expressed concern that the amount is too high.
Crypto-based video games have fallen out of favor with investors.

The Arbitrum DAO is set to give blockchain-based video game developers over $200 million in crypto.

A vote to fund a new “Gaming Catalyst Program” with more than 200 million ARB tokens received overwhelming support through Wednesday, with more than 149 million votes in favor and nearly 31 million votes against.

If approved, the program would have 135 million ARBs, worth approximately $150 million, to invest in game developers and studios, as well as an additional 65 million ARBs to distribute in the form of subsidies.

The vote also sparked opposition, with critics calling it an excessive sum for an industry that has produced little success despite billions of dollars in venture capital.

“It’s too much money to spend on a niche category,” crypto influencer and investor Eric Wall wrote on X.

“I’m just not sure we need to fund this to the tune of a quarter of a billion dollars. Who does it help?

Wall, an Arbitrum DAO delegate, was one of many to vote against the proposal.

The Arbitrum dispute highlights the precarious state of web3 gaming.

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While donors claim it is “not a bubble“, the lack of success combined with a brutal crypto winter have reduced the flow of investments in Web3 games to nothing.

In 2021, Web3 gaming projects raked in $2.3 billion, according to ChallengeLlama. Last year, that figure dropped more than 70 percent, to $576 million.

Web3 gaming projects have only raised $213 million so far this year, despite venture capitalists. I’m coming back slowly to the crypto industry.

An “aggressive budget”

Karel Vuong, founder of video game developer Treasure DAO, co-author of the Gaming Catalyst program.

He pitched it as a way to boost game development on the largest layer 2 blockchain based on Ethereum.

“As a network, Arbitrum lags behind several major competitors in terms of total number of migrated games, launched games, and players,” the proposal states. bed.

“We believe aggressively budgeting to attract builders and retain talent will result in some major wins. »

The program would channel money to game publishers and developers over a three-year period.

“The core of this initiative is to create an investment arm for the DAO that would make investments instead of just granting grants,” said Krzysztof Urbanski, a member of the L2BEAT Arbitrum delegate. DL News.

“The revenues of the DAO do not necessarily have to come from [just] of sequencer revenue, this can come from return on investment.

Critical

Several Arbitrum delegates – members who use others’ tokens to vote on their behalf – have expressed concern about the size of the Gaming Catalyst program.

DAO governance firm GFX, an Arbitrum delegate, led a late campaign to scuttle the proposal.

“This is a huge amount of money for a vertical with no visible winners,” GFX wrote on governance forum Arbitrum. “This is highly speculative and looks like a YOLO.”

The commentary highlights how few Web3 games have reached – and retained – a wider audience.

The most popular, Axie Infinity, has already found its audience in the Philippines to crash amid a $600 million hack and a broader lull in crypto markets.

Despite a to come backdeposits into Axie’s Ronin blockchain are still a fraction of what they were at their 2021 peak, according to data from DefiLlama.

The value of cryptocurrencies deposited in the Ronin blockchain has continued to increase since October.

Arbitration delegate Lito Coen voted against the proposal, saying the initial amount was too high.

“I would prefer that the funding be for one year and/or a third of the amount and that the GCP group apply for new funding after that,” he said. wrote on X.

Support game system

Nonetheless, most key delegates to the Arbitrum support the program.

“For me, the benchmark is not Elder Scrolls but rather games like Stardew Valley,” Urbanski said, referring to a big-budget video game series that has sold tens of millions of copies in the world.

“Or games like Forge of Empires, Travian or Eve Online. These may not be your cover titles, but they are slots.

And Arbitrum DAO isn’t the only one willing to invest big in crypto gaming.

Recent games funds raised by Andreessen Horowitzas well as Arbitrum’s competitors Starknet And Polygonthe whole thing exceeded 100 million dollars.

“In web3, such an initiative is not extraordinary,” Urbanski said.

Aleks Gilbert is a DeFi correspondent at DL News. Do you have any advice? Send him an email to aleks@dlnews.com.

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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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