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Tag: Polygon

  • As Polygon (MATIC) Struggles, DigiToads (TOADS) Emerges As Go-To Choice for Crypto Enthusiasts

    As Polygon (MATIC) Struggles, DigiToads (TOADS) Emerges As Go-To Choice for Crypto Enthusiasts

    The crypto market is constantly evolving, with new projects emerging and gaining the attention of crypto enthusiasts all over the globe. One such project that has recently caught the eye of many investors and enthusiasts is DigiToads (TOADS). With its unique set of features and utilities, DigiToads is quickly becoming the go-to choice for crypto enthusiasts looking for exciting opportunities in the market.

    As Polygon (MATIC) faces challenges within its ecosystem, particularly from reduced activity on its decentralized finance (DeFi) front, DigiToads is emerging as a promising alternative that offers a range of benefits for investors and gaming enthusiasts alike.

    DigiToads (TOADS)

    DigiToads has grabbed the attention of crypto enthusiasts thanks to its innovative approach and diverse range of features. Let’s explore some of the key reasons why DigiToads is attracting attention within the crypto community.

    First of all, DigiToads introduces an immersive Play-to-Earn (P2E) gaming experience, allowing players to collect, nurture, and battle unique DigiToads. By participating in the game, players can earn TOADS tokens as rewards. This gaming token provides an exciting opportunity for crypto enthusiasts to engage with the project and potentially earn rewards while enjoying an interactive gaming experience.

    DigiToads employs a deflationary mechanism, reducing its total supply over time. This deflationary model creates scarcity and the potential for increased value for TOADS token holders. As the supply decreases, the demand for TOADS tokens may rise, leading to potentially massive and exciting price appreciation.

    TOADS token holders have the opportunity to earn additional rewards by staking their tokens. By participating in the staking program, investors can generate passive income, further incentivizing them to hold and engage with the DigiToads ecosystem. The staking rewards offer an attractive feature for crypto enthusiasts seeking long-term investment opportunities.

    Furthermore, as a meme coin, DigiToads possesses the potential for significant price increases. Memecoins like Dogecoin and Shiba Inu have demonstrated the ability to capture the imagination of investors and experience exponential growth. DigiToads aims to tap into this market trend and become one of the most prominent meme coins.

    DigiToads is also building an immersive virtual world called “The Swamp” within its ecosystem. This metaverse will allow users to interact, explore, and engage in various activities, enhancing the overall gaming experience. The development of “The Swamp” firmly positions DigiToads as a player in the rapidly expanding metaverse market, providing users with a unique and captivating virtual environment.

    Finally, the project operates through a decentralized autonomous organization (DAO) treasury, which ensures that decisions regarding the project’s funds are made collectively by the community. This governance structure fosters transparency, community engagement, and decentralization, aligning with the principles of blockchain technology. Crypto enthusiasts value projects like this that prioritize community governance, as it allows them to have a say in the project’s direction and development.

    Buy DigiToads Now

    Polygon (MATIC)

    While Polygon (MATIC) has attracted a significant amount of attention as a scaling solution for Ethereum, it continues to face certain weaknesses within its ecosystem that have led crypto enthusiasts to explore alternative options like DigiToads.

    Despite its scalability solutions, Polygon has faced challenges in handling increasing transaction volumes. The network has experienced congestion and rising gas fees, leading to slower transaction processing and potentially frustrating user experiences. This scalability issue has caused some crypto enthusiasts to look for alternatives that can offer a smoother and more efficient user experience.

    While Polygon has positioned itself as a layer 2 solution for Ethereum, its ecosystem is primarily focused on DeFi applications. While DeFi is an important sector within the crypto industry, some investors and enthusiasts are seeking projects that offer a broader range of use cases and opportunities. This is where DigiToads shines, as it combines gaming, staking rewards, and NFTs, providing a multifaceted ecosystem that appeals to a wider audience.

    Conclusion

    While Polygon has gained traction in the DeFi space, its integration with gaming platforms is relatively limited compared to dedicated gaming-focused projects like DigiToads. With the growing popularity of Play-to-Earn gaming and the increasing demand for immersive gaming experiences, crypto enthusiasts are turning to projects that offer robust gaming functionalities and opportunities to earn rewards.

    DigiToads’ P2E gaming platform, combined with its staking rewards and NFT integration, presents a compelling proposition for gamers and investors alike. As Polygon (MATIC) grapples with scalability challenges and limited use case diversity, DigiToads (TOADS) emerges as an attractive alternative for crypto enthusiasts seeking a more comprehensive and engaging ecosystem. 

    For more information on DigiToads visit the website, join the presale or join the community for regular updates.

    Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.

  • Polygon Hard Fork Was Successfully Implemented, Bringing Improved Performance to the PoS Network

    Polygon Hard Fork Was Successfully Implemented, Bringing Improved Performance to the PoS Network

    Polygon (MATIC) cryptocurrency logo image cover

    The Polygon blockchain underwent a hard fork on Tuesday aimed at alleviating gas spikes that come from sudden increases in transaction volume. The upgrade was first proposed last week in a blog post by the Polygon team, which outlined the coming changes.

    Key takeaways:

    • The team’s goal was to smooth out spikes that occur during surges of high demand to “ensure a more seamless experience when interacting with the chain.” See the projected gas spike chart after the upgrade below.
    • In addition, the upgrade addressed “reorgs,” which are chain reorganizations that occur when a block is deleted from the blockchain to make room for a longer chain. This was achieved by decreasing the spring length from 64 to 16 blocks.
    • From a technical standpoint, the improvements in chain performance were achieved by decreasing sprint length (as mentioned) and by doubling the denominator value from 8 to 16. Overall, the upgrade has decreased block production from 128 seconds to 32 seconds.
    • Gas spikes occur primarily due to transaction-intensive decentralized applications (dApps), such as blockchain games and applications that leverage non-fungible tokens (NFTs).
    • According to the official post, the changes will not make any difference to the current system of Proof-of-Stake (PoS) rewards.
    • At press time, Polygon’s native MATIC token was trading at $0.944, up 6.6% from over the past seven days.
    Polygon's projected gas spike chart after the upgrade
    The severity and frequency of gas spikes are expected to flatten considerably post-upgrade. Source
  • Cardano Ranks #1 as developers announce the launch of Cardano sidechains — Top 3 Coins to Watch for Jan 16 — Jan 22

    Cardano Ranks #1 as developers announce the launch of Cardano sidechains — Top 3 Coins to Watch for Jan 16 — Jan 22

    Cardano Ranks #1 as developers announce the launch of Cardano sidechains — Top 3 Coins to Watch for Jan 16 — Jan 22

    Cryptocurrency markets saw considerable upswing in the 2nd week of 2023, which has caused the total market capitalization of the sector to climb from $848 billion to over $1 trillion (an increase of more than 18% in a single week). The upswing was led by SOL (Solana), which gained more than 70% last week, but BTC, ETH and ADA also had an outstanding week in terms of price performance as all three coins appreciated by over 20%. Does this small bull-run mark the beginning of a reverse in the long-term market trend? Well, we don’t know about that, but one thing is for sure; cryptocurrency investors are starting to feel a bit more optimistic again.

    3. Osmosis (OSMO)

    Osmosis is a decentralized exchange (DEX) for the Cosmos ecosystem, which runs as an “appchain” on its own blockchain. This gives Osmosis greater control and much more flexibility compared to DEXs that must follow the code of a parent chain. Osmosis aims to become a cross-chain native DEX that connects all chains over IBC with the best trading and liquidity provision experience. To attain this goal, Osmosis is working with external developers to create, test and deploy features such as, margin, lending, credit, fiat on-ramps, DeFi vaults, NFTs, stablecoins, and more. OSMO, which is the protocol’s governance token, has a total supply of 1 billion and is currently changing hands at the price of around $0.85 per token. Since only 49% of all tokens are in circulation, this results in a total market capitalization of $425 million, which puts OSMO on the #80 spot.

    Buy/Sell OSMO

    OSMO/USDT trading rolled-out on KuCoin on January 13

    After the listing on Binance in October, Osmosis got listed by another major crypto exchange last Friday, January 13. KuCoin announced the listing and enabled OSMO deposits a day prior on its official website and Twitter:

    While users can trade OSMO/BTC, OSMO/BUSD and OSMO/USDT trading pairs on Binance, KuCoin for now only supports OSMO/USDT trading. Nevertheless, the KuCoin listing could additionally increase OSMO trading volumes as well as bring new liquidity for the Osmosis project. The KuCoin listing comes off the heels of a very successful 2022 for Osmosis, which has been named the most active project on the Cosmos network. In 2022, Osmosis saw over $17 billion in trading volume, which is more than 9x the total TVL within Cosmos ecosystem. Throughout 2022, Osmosis maintained on average of over 70,000 unique monthly visitors, from whom more than half of them performed 6 or more swaps per visit. This indicates that Osmosis DEX is a key gateway to liquidity not only within the Cosmos ecosystem but due to its use of Inter Blockchain Communication (IBC) protocol also to other ecosystems. Cosmos developers claim that there is significant potential for developments and collaborations in 2023 as well, meaning that OSMO might also prove to be a good mid to long-term investment.

    2. Polygon (MATIC)

    Polygon, previously known as Matic Network, is a leading Ethereum Layer 2 scaling solution. The Polygon Layer 2 network consists of several simultaneously run proof-of-stake sidechains that regularly push the data to Ethereum to create network checkpoints. Currently, there two bridges that allow users to move assets between Ethereum and Polygon, the first one being the Plasma bridge and the second one the PoS Bridge. The Plasma bridge delivers supersonic speeds and throughput and allows for an easy and fast exit to Ethereum mainnet at the same time. Together with several other features and tweaks, Polygon provides a major scalability improvement to the biggest smart contract blockchain. By successfully overcoming Ethereum’s most limiting shortcomings Polygon has become attractive for DeFi projects and is establishing itself as one of the key DeFi networks.

    Buy/Sell MATIC

    Developers aim to improve the network’s performance and stability through a recently announced Polygon hard fork

    On Thursday, January 12, the Polygon team announced a hard fork of the Polygon mainnet. The hard fork, which is set to improve the network’s performance by reducing the severity of gas spikes and by reducing the time to finality (the time it takes for a block to be finalized after a transaction is included in it), is slated for January 17.

    After the hard fork, Polygon network will double the denominator in the equation that calculates the gas fees, which will result in a much flatter distribution of gas fees around peak traffic times. In other words, the update aims to eliminate ridiculous gas price spikes. The second change will decrease the depth of blockchain reorganizations, as a single block producer will only produce 16 consecutive blocks as opposed to the current 64. At the time of writing, MATIC is trading at $0.985 and is up by 22% in the last 7 days. Nevertheless, several cryptos, including BTC and ETH posted a similar weekly gain, meaning that the news about the upgrade might not have been fully priced-in yet. In addition, MATIC price has recently spiked above $1 level but then quickly retraced back to sub $1 levels. Another confident surge above this psychological price could lead to a sustained trading above $1 or even higher valuation.

    1. Cardano (ADA)

    Cardano is a decentralized blockchain platform focused at creating a smart contract-enabled environment on which developers can build decentralized applications (dApps). By utilizing a proof-of-stake (PoS) consensus model, Cardano aims to deliver a more sustainable, scalable, and transparent operation compared to other smart contract blockchains. The project was started in 2017 by Charles Hoskinson, a mathematician who was once part of the Ethereum developer team. Together with a team of co-workers, Hoskinson raised $62.2 million for Cardano’s development through an ICO. Today, the development of the project is overseen by three main organizations: the IOG, the Cardano Foundation and Emurgo. Hoskinson and IOG strive to follow the principles of academic peer review in the project’s development process. The native asset of the Cardano blockchain is called ADA, but in 2021 the project rolled-out an update, which allows users to issue other tokens on Cardano blockchain as well. In September 2021 smart-contracts debuted on the Cardano mainnet, which was a major milestone for the ecosystem.

    Buy/Sell ADA

    Developing and deploying custom sidechains on Cardano will soon become a reality

    Cardano developers Input Output Global (IOG), formerly known as Input Output Hong Kong (IOHK), will be releasing a software kit later in January that will enable developers to deploy sidechains on Cardano.

    According to the IOG’s official announcement, the EVM-compatible and mission-specific sidechains will connect to the Cardano main chain through a bridge that allows asset transfer between the chains. The toolkit will allow developers of the sidechain to determine the sidechain’s own consensus algorithm and features. Nevertheless, the sidechains rely on the mainchain for security as the block finality is determined based on the main chain’s consensus. The sidechain toolkit has already been used to create a custom side chain as a proof-of-concept. IOG also revealed, that the toolkit is currently being audited and will be made available on public testnet later this month. Likely also because of the announcement, Cardano has been on a considerable upswing causing ADA to gain more than 20% in the past week. In addition, ADA looks poised for some further appreciation.

  • Polygon Devs Propose Hard Fork to Address Gas Spikes and Reduce Finality Time

    Polygon Devs Propose Hard Fork to Address Gas Spikes and Reduce Finality Time

    Polygon (MATIC) ijmage cover

    Key takeaways:

    • The Polygon team has proposed a hard fork for the Polygon mainnet for January 17
    • The hard fork aims to reduce gas spikes and improve transaction finality
    • The upgrade won’t make any changes to the PoS rewards

    Developers are targeting Jan. 17 for the mainnet hard fork rollout 

    On Thursday, the Polygon team announced their plans for an upcoming mainnet hard fork that aims to improve the performance of the Proof-of-Stake (PoS) blockchain. The upgrade, proposed for January 17, is reportedly targeting two core areas of the Polygon network’s performance, namely gas spikes and time to finality.

    “The goal is to smooth out spikes and ensure a more seamless experience when interacting with the chain,” wrote the team in a blog post. To prevent gas spikes that occur during surges in demand, the team is looking to flatten the curve by doubling the denominator from the current value of 8 to 16. 

    Polygon devs are expecting a much flatter gas spike price distribution after the hard fork. Source

    The second part of the proposed hard fork includes addressing the so-called chain reorganizations (which occur when a block is deleted from the blockchain to make room for a longer chain) by decreasing the sprint length from 64 to 16 blocks. The team explained:

    “[T]his upgrade means a single block producer will produce blocks continuously for a much shorter time (~32 sec) than the current (~128 seconds). Doing so will decrease the depth of reorgs.”

    The proposed changes are expected to result in improved transaction finality and have no changes on current rewards.

    Polygon’s native MATIC token was trading at $0.910 at press time, up 17% over the past week.

    For more information about the proposed hard fork, you can check out the first session of Polygon Builders down below.

    https://www.youtube.com/watch?v=CuYIL7uJomQ
  • 10 Best Tokens to Watch in 2023: WEFE Leads the List

    10 Best Tokens to Watch in 2023: WEFE Leads the List

    Dubai, UAE, January 11, 2023—The year 2022 was mostly unremarkable for alternative cryptocurrencies, but 2023 may very well be a totally different story altogether. There is a significant amount of untapped potential in cryptocurrencies that have just started or are anticipated to emerge in the near future. Because of the one-of-a-kind use cases and designs that these new initiatives implement, they have a great potential to become widely adopted in the near future, particularly low supply crypto tokens. Cryptocurrency investors who are looking for tokens that are presently flying under the radar may find this to be an extraordinarily profitable opportunity.

    Some of these projects have just recently finished their presale periods, while others are still in the midst of conducting them; all of them have the potential to generate significant profits.

    WEFE

    WEFE the Wolfcoin has been the latest crypto token to capture the interest of investors. What makes it interesting is that it is a token as well as a bot. The marketing bot allows investors to make use of the advertisement feature to promote themselves. The bots will be updated with new information from time to time and can be used on the main social media sites like Telegram and Twitter. The WEFE coin is expected to enter the bull run very soon with its interesting features.

    Media contact: spearmintmarketingpro@gmail.com

    Telegram | Twitter

    Yearn Finance

    Yearn Finance was one of the companies that made a splashy entrance into the cryptocurrency industry in 2020. It made it possible for users to generate passive revenue on Ethereum via the usage of DeFi protocols. It is not just one protocol but a collection of protocols that together give monetary incentives to participants.

    Calvaria

    In the year 2023, metaverse projects have a lot of promise. This is due to the fact that the niche market is only just beginning to pick up steam, and there is a great deal of space for development. Calvaria is one of the initiatives that is making precisely this kind of enhancement to both the P2E space and the metaverse.

    C+Charge

    In addition to the P2E network and the metaverse, the other main trend that is expected to dominate the cryptocurrency industry moving into 2023 is the development of initiatives centeredon philanthropic and social reasons. One of them that is already showing significant promise in 2022 is the C+charge system, which is one of many that fall into this category.

    FightOut

    The Move-to-Earn genre is represented by the FighOut metaverse, which is a fitness-oriented virtual world. However, in contrast to other M2E initiatives, it keeps track of a variety of other physical activities in addition to steps. In FightOut’s metaverse, players each have their own digital avatar, and these avatars are distinguished by their Soulbound NFTs. The user’s actual physical activity will have an effect on the avatars, and those changes will be reflected in the game.

    Polygon

    Over the course of the last several years, Polygon has seen an extraordinary increase in both its visibility and its worth. In addition to being a layer-2 scaling solution for the Ethereum blockchain, it enables Ethereum-compatible blockchain networks to connect with one another quickly and at a cheap cost. It has established itself as a leader in the industry with several projects successfully incorporating Polygon and making use of the opportunities it presents.

    IMPT

    Green energy and being environmentally friendly is one of the most important factors driving business right now, and businesses are working hard to meet their goals in this area. Decentralized technology has a significant part to play in this context and has the potential to provide enormous incentives to businesses for the achievement of this goal.

    Compound Finance

    Compound Finance is a significant player in the decentralized finance industry and was one of the few companies that started the decentralized finance fever a few years ago. Users are able to build up their DeFi capital on the site by lending and borrowing assets, which results in them earning interest on these transactions.

    RobotEra

    There is yet one more metaverse project that has the potential to become a surprise hit in the year 2023. RobotEra is a science fiction-themed metaverse in which users take on the role of digital robots that are capable of participating in a variety of social activities. Since the purpose of the project is to provide a significant amount of improvement to the social possibilities offered by the metaverse, the social component is the central focus of the experience and design of the metaverse.

    Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.

  • The Hideaways (HDWY) Becomes Top Pick For Avalanche (AVAX) and Polygon (MATIC) Holders Against The FTX Market Crash

    The Hideaways (HDWY) Becomes Top Pick For Avalanche (AVAX) and Polygon (MATIC) Holders Against The FTX Market Crash

    Avalanche (AVAX) and Polygon (MATIC) are two of the mighty crypto coins that could provide long-term stability. But with the current FTX market decline, such advancements from the networks have been delayed. As a result, investors are purchasing the new safe harbor asset The Hideaways (HDWY) to acquire better stability.

    Avalanche (AVAX) Feels Shockwaves Of FTX Drop

    The Avalanche (AVAX) ecosystem fell once more into the pit as Binance declined its procurement of crypto exchange counterpart FTX. According to CoinMarketCap, the coin dipped 8% alongside other top picks such as Solana (SOL) and Tron (TRX).

    The network stated that the Avalanche (AVAX) C-Chain could be put to a halt to reduce the congestion of the approach. The method will primarily scale on the activity of trading but will also increase the chances of losing various investors.

    That said, the quakes from FTX could be a vital movement from investors to uprise their portfolios and buy stable coins like The Hideaways (HDWY).

    Polygon (MATIC) Whales Are Exiting On Crash

    After recording massive and notable weekend gains, Polygon (MATIC) registered one of its biggest pullbacks. Like any other cryptocurrencies in the market, the token couldn’t hold its double-digit gains as the market turns red.

    Despite appreciating 40%, the bear market has brought down the trading price of the token to 12.56% on the daily chart. The Hideaways (HDWY) is projected to acquire 6,000% growth in 2023 according to various analysts.

    Polygon’s (MATIC) price on the crossroads scared off various whales, attempting to revive some beat from the coin that could be essential for its growth.

    The Hideaways (HDWY) Is Picked As Top Investment For 2023

    The FTX contagion may be the last to run bears in the streets of the market but The Hideaways (HDWY) harbors various investors and offers a haven that surpasses Avalanche (AVAX) and Polygon (MATIC).

    Investors can acquire real properties by purchasing an NFT on the platform. These NFTs consist of luxury land investments that are chosen by property experts. In addition, crypto analysts project that the platform could accumulate more than 20,000% ROIs

    Sitting at a small market cap of $45 million, the platform has extra room for growth opportunities that investors can take advantage of. Crypto experts estimated that the project could grow to more than $25 billion by the year 2025.

    Join the presale even while the token is traded at $0.10!

    Website: https://www.thehideaways.io

    Pre-Sale: https://ticket.thehideaways.io/register

    Telegram: https://t.me/thehideawayscrypto

    Twitter: https://twitter.com/hdwycrypto

    Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.

  • Investors In VeChain (VET) And Polygon (MATIC) Scramble To Purchase The Hideaways (HDWY) Presale

    Investors In VeChain (VET) And Polygon (MATIC) Scramble To Purchase The Hideaways (HDWY) Presale

    Cryptocurrencies have gained prominence in recent years. It can be challenging to pick the best cryptocurrencies to invest in. Fortunately, we did our homework and discovered a currency that will revolutionize how individuals engage in cryptocurrencies.

    As popular coins like VeChain (VET) and Polygon (MATIC) struggle to maintain their value, our analysts believe The Hideaways will take over in 2023.

    This rise has already begun, with the HDWY token price set to increase on Sunday. Invest now before the price rises and you’ll receive a huge 30% bonus on your investment!

    VeChain (VET) Will Not Soar To Higher Places

    The Vechain (VET) project emerged quite some time ago. VeChain (VET) is a blockchain platform created to improve corporate operations and supply chain organization. VeChain (VET) uses distributed ledger technology to automate these procedures and data flow for intricate supply networks.

    VeChain (VET) is currently worth $0.02636, a 90% drop from its peak of $0.2782. With this drop, the future of VeChain (VET) is looking quite dark, and holders are beginning to flock to The Hideaways presale in hopes of returns.

    Polygon (MATIC) Still Not Widely Adopted

    Polygon (MATIC) provides significant assistance for the primary Ethereum blockchain. Owing to this role as a secondary blockchain and its capacity to provide it, Polygon (MATIC) can swiftly process an enhanced transaction volume.

    Investors in Polygon (MATIC) don’t appear to be satisfied with the course of this coin, regardless of the application purpose, which has prompted them to think about investing in The Hideaways. While Polygon (MATIC) might have some good market movements soon, we believe it would be preferable to focus on alternative opportunities with tremendous development potential.

    The Hideaways (HDWY) Deemed A Presale Star

    Why do crypto experts say that The Hideaways will outperform VeChain (VET) and Polygon (MATIC) in 2023? Let’s mention some unique features of The Hideaways that investors love:

    • The Hideaways enables cryptocurrency investors to invest in real estate and generate income through rentals and staking while increasing their crypto assets.
    • Investors may earn over 90% of passive income paid in either USDT or ETH.
    • A VIP tier system with perks like access to first-class lounges and a global concierge

    The Hideaways platform will satisfy the desire of cryptocurrency investors to purchase lavish properties all over the globe. The Hideaways will do this through fractionalized NFTs underpinned by real-world assets like mansions, penthouses, and villas.

    Realty experts will select these properties with maximum profit in mind. Investors will yield income from the rental fees of these homes.

    The team has locked liquidity permanently to avoid rug pull fears while completing its audit via Solid Proof, one of the most well-known auditing firms. These actions prove that The Hideaways is one of the most secure investments in 2023.

    Most seasoned investors know that making significant gains frequently involves participating early in reliable projects. The Hideaways is projected to yield tremendous returns for those who buy it, given its novelty and price of just $0.072. That price is predicted to rise 14,000% by mid-2023.

    If you would like to examine The Hideaways presale more, follow the links below:

    Website: https://www.thehideaways.io

    Pre-Sale: https://ticket.thehideaways.io/register

    Telegram: https://t.me/thehideawayscrypto

    Twitter: https://twitter.com/hdwycrypto

    Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.

  • A Web3 Approach to Sports Predictions—Pooky Is Launching in Public Beta with World Cup Predictions

    A Web3 Approach to Sports Predictions—Pooky Is Launching in Public Beta with World Cup Predictions

    Key highlights:

    • Web3 sports predictions platform Pooky is launching its free-to-play public beta
    • Pooky aims to provide players an entertaining sports prediction experience, while avoiding the risks of traditional gambling platforms
    • Holders of Pookyball NFTs can make predictions and earn points 

    Pooky is launching its public beta, players will be able to predict FIFA World Cup results

    Pooky, a web3-powered platform for sports predictions, is launching its platform in public beta today (November 16). The free-to-play Pooky public beta will allow users to predict results of matches at the FIFA World Cup, which is set to kick off on November 20.

    Participants in the Pooky public beta will get a whitelist spot for minting Genesis Pookyball NFTs in the project’s private sale, which is scheduled for January 2023. Pookyball NFT holders will be able to make predictions on football games from the biggest tournaments and leagues in the world, including the Premier League, Serie A and La Liga.

    Pooky will initially be focusing its efforts on football prediction, but the team plans to also add support for other sports such as tennis, basketball and Formula 1 next year.

    The Pooky platform, which is built on the Polygon blockchain, allows players that correctly predict the results of matches to earn experience points and compete on leaderboards. Players also collect upgradeable Pookyball NFTs, which provide access to predictions.

    According to the Pooky team, the platform allows players to avoid the high risks of traditional sports betting platforms, while still making games more exciting since players have something on the line. Experience points earned by making correct predictions can be used to upgrade Pookyball NFTs, with better Pookyballs yielding bigger rewards. Top players can earn crypto rewards, as well as rare Pookyball NFTs.

    The Pooky platform will feature an ERC-20 utility token, which will function purely as an in-game currency and a way to reward the best players. The tokens will be burned through various in-game actions, with the Pooky team hoping to avoid the token supply inflation problems that have plagued multiple “play-to-earn” games. 

    Here’s how Pooky co-founder Stefano Riff summed up the project’s ambitions:

    “We wanted to build a healthier alternative to traditional sports betting. By going back to the roots of sports prediction — challenging friends and demonstrating your knowledge of the beautiful game — Pooky encourages social interaction and fun whilst creating communities, both on and off the platform.”

  • Instagram Will Let Users Mint and Sell NFTs Using Polygon Chain

    Instagram Will Let Users Mint and Sell NFTs Using Polygon Chain

    Instagram app cover image

    Key takeaways:

    • Meta has announced a series of NFT-related updates for Instagram
    • Instagram users will be able to mint and sell NFTs using the Polygon blockchain
    • In addition, Meta revealed it will be using Arweave to store Instagram NFTs

    Meta announces a fury of NFT updates for Instagram

    Social media giant Meta announced today a number of non-fungible token (NFT) focused updates for its photo and video-sharing platform Instagram. According to TechCrunch, Instagram users will be able to mint digital collectibles on the Polygon chain and offer minted creations to their followers.

    Moreover, the tech giant also revealed that it will be adding support for Solana and the Solana-oriented Phantom wallet. The Meta team shared the news on Twitter:

    Following the announcement, the price of Polygon’s native utility token MATIC rallied by more than +10%, hitting $0.96 at press time. Meanwhile, the price of Solana’s native SOL token remained largely unchanged, trading flat for the day.

    Meta starts using Arweave to store NFTs from Instagram, AR explodes by +60%

    In addition to the minting and trading announcement, Meta also revealed that it has started using Arweave for NFT storage purposes. “Instagram users are now able to issue digital collectables for their posts, stored on Arweave,” wrote Arweave founder and CEO Sam Williams on Twitter.

    Williams commended Meta for picking Arweave as its primary storage solution and added, “NFT permanence is a sign of digital asset quality.”

    Launched in 2017, Arweave is a scalable decentralized storage network (DSN) that connects people who have extra computer disk space with those that need more computer storage. 

    After the announcement of Meta integration, the price of Arweave’s native AR token surged by more than +60% and hit its three-month high of $17.50 earlier today. By press time, AR’s price retraced to $15.12, showing a 24-hour price change of +51%.

    Buy/Sell AR