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Web3 Games: The Core Issue of In-game Currencies

Web3 Games: The Core Issue of In-game Currencies

Quick Take

  • This research piece is a two-part series, with the first part focusing on the core issue of tokenizing in-game currencies.
  • In the second part, we will delve deeper into the design of various token models and identify which games would benefit from having their currency tokenized.
  • Tokenizing in-game currencies frequently leaves game developers without control over the value of their currencies, leaving them vulnerable to market speculation.
  • The core issue can be easily understood via an international economic theory “Impossible Trinity” and we will explore the potential solutions.

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Celsius Network CEO Mashinsky Resigns

Celsius Network CEO Alex Mashinsky has submitted his letter of resignation, effective immediately

The post Celsius Network CEO Mashinsky Resigns appeared first on The Block.

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Cosmos contributors release new whitepaper showcasing two big ideas

On Monday, a group of Cosmos contributors released a new whitepaper that outlines a plan to add two new functionalities to the Cosmos Hub.

The post Cosmos contributors release new whitepaper showcasing two big ideas appeared first on The Block.

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Robinhood launches self-custody wallet to 10,000 waitlist users

Robinhood Wallet will bring crypto trading to users around the globe, initially launching to 10,000 iOS users in beta.

The post Robinhood launches self-custody wallet to 10,000 waitlist users appeared first on The Block.

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Powell: Crypto market downturn gives regulators ‘more time’

Federal Reserve Chair Jerome Powell sees the crypto market downturn as a benefit giving regulators more time to pass “appropriate” regulation.

The post Powell: Crypto market downturn gives regulators ‘more time’ appeared first on The Block.

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Smart Token Labs’ TokenScript quadruples valuation as it raises $6 million

Open-source software company Smart Token Labs has raised $6 million in a round led by billionaire Liang Xinjun for its TokenScript project.

The post Smart Token Labs’ TokenScript quadruples valuation as it raises $6 million appeared first on The Block.

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Gemini to partner with financial advisor Betterment, act as custodian for crypto clients

Gemini partners with financial advisory firm to bring crypto to its 730,000 customers.

The post Gemini to partner with financial advisor Betterment, act as custodian for crypto clients appeared first on The Block.

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Nexo buys ‘minority’ stake in OCC-regulated U.S. bank Summit National: Exclusive

The news comes a day after eight U.S. states brought actions against Nexo over its yield product.

The post Nexo buys ‘minority’ stake in OCC-regulated U.S. bank Summit National: Exclusive appeared first on The Block.

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UK’s FCA approves Revolut for cryptoasset register

The UK’s Financial Conduct Authority (FCA) added fintech unicorn Revolut to its cryptoasset firm register, bringing the list of companies permitted to carry out crypto asset activities in the country to 38. 

The post UK’s FCA approves Revolut for cryptoasset register appeared first on The Block.

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IMF calls on global financial watchdog to lead crypto regulation push

The Financial Stability Board (FSB) has gained the IMF’s approval as a global leader for coordinating and setting crypto regulation standards.

The post IMF calls on global financial watchdog to lead crypto regulation push appeared first on The Block.

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