Submit Blog Home » Cryptocurrency News » Cryptocurrency News » Blockchain studio rep laments that ‘Not all gamers are crypto traders’ Blockchain studio rep laments that ‘Not all gamers are crypto traders’ September 6, 2020 And not all crypto traders are gamers either.
1532 Total views
22 Total shares With the rise of non-fungible tokens (NFT), gamers and crypto enthusiasts are coming together, but gamers may not even know they’re using cryptos before they understand the decentralized nature of NFTs, an expert said.During an interview with Cointelegraph, Mac Ocampo, head of growth at blockchain entertainment studio Virtually Human Studio (VHS), said that NFTs and gaming platforms complement each other well, as there are “good NFT products out there like Sorare and Dapper Labs’ NBA Top Shot which introduces more mainstream users to the world of NFTs.” Ocampo summarized the concept that the NFTs industry should adopt and it’s “cryptotainment,” where both segments, crypto traders and gamers, can play – for example – a horse racing game while earning crypto at the same.That’s why he thinks that the industry faces a challenge: “The high cost of owning and maintaining a racehorse in the real world creates a distinct gap between its profit-hungry customers and the privilege of ownership.” “Not all gamers are crypto traders, and not all crypto traders are gamers” is one of the major hurdles that the NFTs gaming sector should overcome, Ocampo said.However, he tells a personal story which he considers the proper one to highlight NFTs benefits: “I recently caught up with my high school pals during the lockdown.One of my friends, Jimmy, had this $12k Michael Jordan chase card he bought a few years ago.However, when he had time to organize his collection, the inevitable happened – termites raided his trading card collection.” And that’s where the value of NFTs comes in, added Ocampo, clarifying that if that valuable piece of Michael Jordan memorabilia was converted into an NFT, “then there’s a high possibility that it could have retained its value.” Ocampo also talked about how the COVID-19 pandemic is helping in some way to boost NFTs adoption in recent months: “NFTs have always been associated with gaming platforms and most people were playing games during that time.
While it’s quite insensitive to say that it has contributed to the growth and sales of NFT platforms and blockchain games, we have to admit that more users are now familiar on how in-game purchases work and the value that NFTs give to the gaming space.” Ocampo explained the critical role that the NEAR protocol can play in the NFT industry, using a recent VHS project called the ZEST Play Platform that’s based on NEAR as an example: “There are several blockchain protocols now that say they have higher TPS and lower transaction costs, but we are confident that the NEAR protocol will solve roadblocks which enables us to provide a great user experience to our customers.Since ZEST is the first NFT mainnet product on NEAR blockchain, we aim to be a great case study for the next wave of NFT platforms and games on NEAR.” Share this: Revised Crypto Laws in Japan to be Enforced Starting May 1 New laws for regulating cryptocurrencies in Japan will start to be enforced next month.The Payment Services Act (PSA) and Financial Instruments and Exchange Act (FIEA), two of the pieces of legislation passed by the Japanese House of Representatives last year to regulate crypto, were scheduled to come into effect starting in April.However, with unexpected… Silk Road Prosecutor: 99.9% of Fiat Money Laundering Goes Unprosecuted Kathryn Haun — a general partner at Andreesen Horowitz and the Justice Department’s prosecutor for the infamous Silk Road case —- says that the fiat-dominated financial system is inept at tackling the very thing it purports to worry about when it comes to crypto.In the traditional financial sector today, “99.9% of all money laundering crimes… US and China Battle for Blockchain Dominance When Chinese President Xi Jinping announced strong support for blockchain technology last month, pundits suggested that China would soon overtake the United States in dominating blockchain innovations.Our patent research at the Blockchain Center of Excellence at the University of Arkansas finds that China is already winning the Intellectual Property arms race against the U.S.We… Japanese financial giant SBI to launch CFDs for Bitcoin, Ether and XRP A forex exchange in Japan will start crypto CFD trading soon.Japanese financial giant SBI Holdings is preparing to launch contract-for-difference (CFD) trading for major cryptocurrencies like Bitcoin (BTC).Starting Aug.
31, SBI Holdings will start CFD trading service for crypto assets like Bitcoin, Ether (ETH), and XRP, Cointelegraph Japan reports on Aug.28.As officially announced,… Samsung SDS to Use Zero-Knowledge Proofs on Business Blockchain Samsung SDS, the IT arm of tech giant Samsung, has integrated QEDIT’s zero-knowledge proof solution (ZKP) to its Nexledger blockchain.By applying ZKP, Samsung SDS intends to provide a higher level of privacy for users of its enterprise blockchain platform Nexledger, QEDIT said in a press release on Nov.
14.To apply the technology, Samsung SDS… Major Austrian Bank Raiffeisen Joins R3 Corda-Powered Global Trade Finance Network Austria’s Raiffeisen Bank International (RBI) has announced it will pilot R3’s Marco Polo blockchain network for trade finance, according to a press release shared with Cointelegraph on May 8.As previously reported, Marco Polo — which is powered by R3’s Corda enterprise blockchain platform — counts major international banks such as BNP Paribas, ING and Sumitomo… Crypto Not a Solution for Financial Inclusion, Lawyer Tells US Senate In a prepared statement for today’s United States Senate’s crypto hearing by international lawyer Mehrsa Baradaran, suggests that cryptos are not the solution for financial inclusion and equity in banking.Policy, not technology is the solutionIn her statement, published on the Senate’s website, Baradaran explains that the issues of inequality and inefficiency in finance that Bitcoin… Crypto.com Simplifies Crypto Tax Reporting for Its Users Payments and cryptocurrency platform Crypto.com has simplified cryptocurrency tax reporting for its users through a new partnership with three tax providers.On March 24, Crypto.com announced the collaboration with crypto tax calculator CoinTracker, crypto tax software platform TokenTax and crypto tax reporting firm CryptoTrader.Tax.Now, Crypto.com’s users can import their historical crypto transactions from the platform into… Facebook’s Marcus: Libra to Satisfy All Regulatory Matters Before Its Launch David Marcus, CEO of Facebook’s crypto wallet Calibra, underlined that Facebook would not launch the Libra cryptocurrency project before they address all regulatory concerns.
Marcus delivered his comments at a hearing on Libra with the Financial Services Committee of the United States House of Representatives today, July 17, as reported by a Cointelegraph correspondent.On the… Leave a Reply You must be logged in to post a comment.Search.
