Axie Infinity Surpasses $4 Billion in All-Time Sales, Team Removes SLP Rewards From Classic Game Mode

After recording more than $4 billion in all-time sales, Axie Infinity announced the game’s classic mode will no longer allow users to obtain smooth love potion (SLP), as SLP rewards have been added to the new Origin ranked gameplay mode. The team also introduced non-fungible token (NFT) runes and charms that can be minted on the Ronin network through the marketplace. As the Play-to-Earn Game Hits $4 Billion in Sales, Axie Infinity’s Classic Mode Will No Longer Collect SLP Axie Infinity is changing the rewards system and removing SLP from…

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Insta-rally! FLOW token jumps 50% amid Instagram adoption euphoria

Flow (FLOW) logged its best daily performance on Aug.4 after becoming the latest blockchain to support Instagram’s nonfungible token (NFT) features. Insta-made FLOW rally Meta CEO Mark Zuckerberg announced on Aug. 4 that Instagram had expanded its NFT support to 100 more countries in Africa, the Asia-Pacific, the Middle East and the Americas. As a result, more users can post digital collectibles minted on the Flow blockchain on Instagram. The high-profile integration helped FLOW surge 54% to reach an intraday high of $2.83 a token. Interestingly, the token’s massive upside move…

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CBOE’s operating expenses spiked 312% due to underperformance of acquired crypto firm

On Friday, Chicago Board Options Exchange (CBOE), the largest options exchange in the United States, announced its second-quarter earnings results. Of particular interest was its total operating expenses, which soared 685% year-over-year from $160.6 million. CBOE explained: “This was primarily due to the $460 million impairment of goodwill recognized in the Digital reporting unit, driven by negative events and trends in the broader digital asset environment. The said environment has changed dramatically since we closed the ErisX transaction on May 2, which resulted in the accounting adjustment.” ErisX enables self-directed…

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Can blockchain be used without cryptocurrency?

A blockchain without cryptocurrency is a distributed ledger that stores data associated with nonfungible tokens (NFTs), supply chain initiatives, the Metaverse and more. Even though Bitcoin (BTC) is the most known application of a decentralized ledger or blockchain, there is a wide range of other uses of blockchain technology. For instance, blockchain technology can be utilized in various financial services including remittances, digital assets and online payments because it enables payments to be settled without a bank or other middleman. Furthermore, the next generation of internet interaction systems including smart…

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Crypto use in emerging markets driven by necessity: KuCoin Labs head

The proliferation of cryptocurrencies around the world has been driven by different use-cases, with key differences becoming apparent between developed and emerging market environments. Lou Yu, who heads up KuCoin Labs, tackled the subject after a keynote address during the second day of Blockchain Economy Istanbul in Turkey. In an exclusive interview with Cointelegraph, Yu unpacked her experience working with a variety of projects and companies around the world and the key differences between primary and secondary markets. Cointelegraph editor Erhan Karahman interviews KuCoin Labs head Lou Yu at Blockchain…

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Video Game Giant Square Enix Plans to Drop a Final Fantasy VII NFT Collection in 2023

According to the non-fungible token (NFT) company Enjin, the firm has inked a deal with the Japanese entertainment conglomerate and leading video game developer Square Enix. The partnership will produce the launch of Final Fantasy VII 25th Anniversary cards and figures on the cross-chain network platform Efinity. Japanese Software Developer Square Enix to Issue Final Fantasy Non-Fungible Token Assets Next Year Square Enix has plans to release NFTs tied to the company’s most popular video game series Final Fantasy in 2023, according to a press announcement stemming from Enjin. The…

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Blockchain Company Polygon Chosen to Participate in Disney’s 2022 Accelerator Program

The blockchain company Polygon has been chosen to join Disney’s Accelerator program, according to a Walt Disney Company blog post published on Wednesday. The company’s 2022 Disney Accelerator initiative is a business development program that aims to “accelerate the growth of innovative companies from around the world.” Disney’s 2022 Accelerator Is Focused on Artificial Intelligence, NFTs, and Augmented Reality Walt Disney Company published an announcement on Wednesday that explains the Disney Accelerator program has picked six companies to join this year’s class initiative that plans to target a few different…

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Playboy Joins The Sandbox Virtual World — Lifestyle Firm’s Metamansion to Feature NFTs and Special Events

On July 11, Playboy, the lifestyle and entertainment firm founded in 1953, revealed a licensing collaboration with the blockchain-based virtual world The Sandbox. The two companies detailed that the newly formed partnership aims to provide metaverse visitors with a Playboy-themed “social gaming experience.” Playboy Enters The Sandbox PLBY Group, Inc. (NASDAQ: PLBY), commonly referred to as Playboy, announced on Monday that the firm is collaborating with the blockchain project The Sandbox. Launched in March 2012, The Sandbox platform evolved from a two-dimensional (2D) game to a three-dimensional (3D) metaverse powered…

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Organizer of Binance-Sponsored Crypto Tour Says Campaign Was Successful

A crypto enthusiast and organizer of the Binance-sponsored Blockchain and Cryptocurrency Awareness Tour (BCAT) recently held in Nigeria, has rejected reports he was arrested by security agents reportedly spooked by large crowds that were following the campaign. The enthusiast said the high number of people that attended the BCAT tour proves that Nigerians “want to continue to explore blockchain and cryptocurrency and improve their lives.” Nigerian Interest in Crypto and Blockchain Growing A Nigerian blockchain and crypto educator, Tony Emeka, has clarified that the security agents that made an appearance…

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Ethiopian Central Bank Urges Residents to Stop Engaging in Crypto Transactions

The National Bank of Ethiopia (NBE) has said it does not recognize cryptocurrencies as a legitimate method of payment and that residents must avoid using them. The bank insists the local birr currency is the only lawful means of settling transactions in Ethiopia. Illegal Transactions The Ethiopian central bank has warned citizens against engaging in “illegal” cryptocurrency transactions, a report has said. The report adds that the central bank still does not recognize cryptocurrencies like bitcoin as a payment method. In its report, the state-affiliated media outlet Fanabc refers to…

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