#Blockchain Cryptocurrency or Non Fungible Tokens: The future for gaming industry Published 3 weeks ago on December 28, 2018 By Layla Harding Share Tweet There has been a lot of exciting announcements around the cryptocurrency gaming industry in particular over the last year. Some of these big announcements have been from big players that have been getting involved in the crypto gaming industry. Non Fungible Tokens Non Fungible Tokens are collector’s items, unique playing cards, pokemon, crypto kitties and of these different things. In order for Non Fungible Tokens to exist, we need to have the right tokens that will allow the existence of these unique assets. ERC-721, ERC-1155 and ERC-998 token standards allowed for things like the owning of unique assets, lowering gas cost etc. which are very important when it comes to actually have a game that you can play that lets people easily swap or interact with these unique game items and that’s just on Ethereum. But Ethereum is not the only big blockchain working on the gaming industry. As Non Fungible tokens are rising, we obviously need some exchange to trade these tokens. Thus, welcoming NFT or Non Fungible Token marketplaces. CryptoKitties is one of the big initial use cases of Non Fungible Tokens but we have seen the marketplaces for Non Fungible Tokens increasing. We have OpenSea and RareBits which came on earlier in the year allowing users to very easily sell their game assets directly outside of the game’s internal environment. Sale of Non Fungible Tokens Sales of Non Fungible tokens over the last year has been really crazy. We had a GodsUnchained card which was sold for $60,000, we have a crypto kitty which was sold for $170,000 and we have a virtual real estate selling on Decentraland for $200,000. All these events show that there is money interested in these virtual assets and in playing these virtual games there are a lot of people that are interested in having that experience. In terms of experiences, we are seeing more second layer applications being built by third-party developers to help expand these ecosystems. User Experience An important part of this developing ecosystem is, of course, the user experience. It’s going to be hard for us to ever attract people to come from their very easy user experience game to a blockchain game unless the experience is good. Metamask is quite awesome and has been an industry standard for quite a while but the still the user-friendliness is not totally there. We have been seeing more efforts to make the overall experience of interacting with blockchains and blockchain based Dapps more user-friendly. For example, Opera has now integrated an Ethereum wallet that will be a really important step. Now we need to see Firefox, Google Chrome, and others actually integrate wallets into the browser to make it easier to interact with blockchains on the internet. Opera was the first mover in terms of actually offering an integrated blockchain experience into their browser, others will certainly follow. Ethereum’s scalability issue: CryptoKitties interestingly proved a very important point about Ethereum that it has serious scalability issues. The interesting thing to see is that other blockchains are moving in to fill in that space. We can see more and more people looking to develop their blockchain based games over on EOS. Tron is putting on the table $100 million for a development fund specifically focused on getting people to build games on TRON which is a serious commitment to the gaming industry and if TRON can get some giant game built on it, it could be massive. Cocos Cocos has just launched their testnet and it is one of the world’s biggest game engines. There are so many developers that are building their games on top of Cocos and to see them actually bringing in this blockchain implementation is very significant and will be a big boost to the overall cryptocurrency gaming space. This is a team that understands what it takes to build games, to bring games to life, what developers need and obviously how to integrate all of this with the blockchain. The potential use case for cryptocurrency and gaming is very exciting. Imagine if we had a Fortnite or a World of Warcraft built using blockchain for people who are having to interact with blockchain all the time. This would be massive in terms of actually driving demand for cryptocurrencies even if just for fractional amounts of Gas it could be huge without a doubt. Related Topics:BlockchainBlockchain GamesBlockchain Gamingcrypto gamingcryptocurrencyCryptocurrency GamesCryptocurrency GamingcryptokittiesDecentralanderc1155ERC998ETC721EthereumGame TokensGamingGaming cryptocurrencyGaming industryGasNFTNon Fungible Tokennon fungible tokensOpenSeaRareBitstokensTronVirtual Assets Up Next Bitcoin and Gold correlation: BTC to $5500 with head and shoulders pattern? Don't Miss Bitcoin, Dow Jones Price Analysis: BTC heading to $4200? Continue Reading You may like Bitcoin Still Stays Strong: Gamblers Prove Top 10 Friendly Countries for Blockchain Startups Stock Exchange of Thailand moving towards Cryptocurrency Bitcoin and Dark web: Transactions increasing, Values decreasing Trump Government Shutdown: Impact on Bitcoin ETF, Bakkt and Cryptos. France Yellow Vests Bank Run: Fractional Reserve Banking Fraud, Is Bitcoin The Real Solution? 3 Comments 3 Comments Pingback: Cryptocurrency or Non Fungible Tokens: The future for gaming industry – Coinnounce – A Bit of News Pingback: Cryptocurrency or Non Fungible Tokens: The future for gaming industry – Coinnounce | Bitcoin & Cryptocurrency Pingback: Cryptocurrency or Non Fungible Tokens: The future for gaming industry – Coinnounce – Stablecoin Guide Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Blockchain Top 10 Friendly Countries for Blockchain Startups Published 1 day ago on January 20, 2019 By Joyce Lang Blockchain has been a revolution in the digital market for the last couple of years. It has occupied an important place in the digital currency revolution. The growth of technology has touched various fields such as smartphones, vehicles, shipping and a small sector in the sector of banking. Although there is no country in the world which is not aware of this technology, there is a huge difference of opinion among countries regarding this revolution. There are various factors a blockchain startup has to look up before deciding it as a host country such as the jurisdiction regulations of the country, political views, tax system etc as these factors are going to affect the growth of any startup. While some countries are allowing blockchain startups to set up legally, while some are in no mood for any such beginning in the country and there are also some countries which are not sure about it. Let us take a glance at the top 10 friendly countries for blockchain startups: 1. Malta: This small Mediterranean country is on the verge of becoming the ‘island of blockchains’. The beginning of all these was when the biggest cryptocurrency exchange of world, Binance chose to inaugurate its office in this country. Also, they have informed all to set up a ‘crypto’ bank on this island. Malta has been improving and enhancing new regulations that are friendly for blockchain startups. The country is so much dedicated to this technology that even the head of the country, the Prime Minister has predicted that the country will be the best place for this kind of startups throughout the world. The regulations are mainly focussed to evolve and encourage the investors to start this kind of projects in the country. 2. Switzerland: The settling up of a crypto valley in one of its town, Zug, is sufficient to describe how much amiable this country to blockchain startups. It is one of the famous center of blockchain technology across the globe. Adding to the ice, they have imposed a tax-free regulation for the investors who want to invest in this kind of startups. Apart from it, their laws and regulations are very attractive and appreciated by investors as well as developers. It has been the host of several blockchain projects including DFINITY, Xapo and of course, Ethereum. The privacy rules and protection of data are also appreciated by the blockchain startups. 3. Japan: Japan is one of those countries which have approved cryptocurrency such as Bitcoin as a legal tender. It has been home of several blockchain traders, even some of the stores in the country have no problem in taking payments from users as Bitcoin currency. After six months of recognizance of cryptocurrency as legal, Japan is now accountable for more than half of total such trades. Although there are various regulations regarding blockchain startups, they are friendly and easy to be acceptable and it’s not difficult to stary sich any startup in the country. 4. Singapore: This country is a home of a huge number of triumphant startups in the field of blockchain technology. This country is nearer to two super giant technology rival countries Japan as well as China which makes it a more suitable center for startup of blockchains. The rules and regulations of this country are also very amiable and favorable bt the cryptocurrency. It has already a lot of exchanges of blockchain currency. So if a blockchain startup is willing to start and want to be in touch of both China and Japan clients and government, Singapore is the best country. 5. Belarus: Two years back itself in 2017, this country made several rules and regulation affecting blockchain and crypto industry. As per these laws, they have made these digital currencies as the legal one in the country. The restrictions in the trade related to blockchain technologies are so friendly that the investors almost feel free to start any such startup or invest in this kind of organizations. Also, as per the rules, these kinds of trades are tax-free in the country until 2023. Due to the friendly rules and success, it is one of the preferable countries for blockchain startups. 6. Estonia: Estonia is a developing country which has always tried to adopt new technologies in order for the benefits of the people and finance of the country. It has imposed several acts that attract the investors of the country as well as other countries to set up a blockchain startup in this country. It has declared itself to be a remarkable country in blockchain technology very soon. Also, they have established a new kind of citizenship known as e-residency which also attracts blockchain startups. 7. South Africa: This country has depicted a tremendous interest in blockchain technology. They have made the crypto transactions as legalized one in the country. They have made several initiatives in order to attract the investors to start such startup in South Africa. The rules and regulation related to this crypto market in this country are also not so harsh, they always tend to welcome these industries. It is becoming as one of the most profitable countries for blockchain startups in Africa subcontinent. 8. Denmark: Denmark has already announced a regulation stating complete relaxation in tax for any kind of blockchain trade. It is one of the most amiable countries for welcoming these types of startups in the country. The rules of the country are very friendly for the crypto industry making it one the interest for blockchain startups. 9. United States: When it comes to adopting new technology in the market, this country is always in the front. The rules and regulations vary across different states of the country. Despite the oppose in some state, there are Bitcoin ATMs in the country. The friendly states of the county, Montana, Texas, etc. have very amiable regulations while welcoming the blockchain startups. Apart from it, no other country in the world can be better for any technology to start other than the US itself. 10. United Arab Emirates (UAE): This Arabian country is also one of the most friendly nations. They have already used their own digital currency since 2016 and now welcoming global cryptocurrencies. The jurisdiction is very cooperative towards the blockchain and crypto industry. They are planning to be the first country in the world as a government powered by blockchain by next year. Due to these reasons, UAE is also one of the most preferable countries for blockchain startup. The market conditions of countries continue changes. The expansion of crypto and interest in blockchain startups is so high that many countries are willing to accept it in their country. There are various factors to establish the startup in the country and initial requirement would be an amiable regulation and legalization. Apart from above-mentioned countries, UK, Sweden, China, South Korea etc. are also preferable. Continue Reading #Blockchain 2019 Blockchain Adoption: The Next Cryptocurrency Price Catalyst Published 4 days ago on January 16, 2019 By Janet F. Sanchez Industries that we never thought would be disrupted, will be disrupted massively and the company executives know it and they want to be ahead of the curve and find ways to not be disrupted out of their business. Blockchain has got a lot of amazing applications and uses cases but at the same time blockchain will not solve all of the world’s problems. It can certainly go along way towards solving quite a few of them which is amazing as a tool. Let have a look at some of the recent survey statistics from a report from Deloitte related to blockchain technology: Around 95% of the companies surveyed say that their company plans to invest in blockchain technology in 2019. With 16% of the company executives surveyed said that they are planning on investing $10 million or more into blockchain technology in 2019. 84% believe that blockchain technology is broadly scalable and will eventually achieve mainstream adoption. 68% of the executives polled also believed that they will lose a competitive advantage if they don’t implement blockchain technology. 59% of people who were polled believe that blockchain will disrupt their industry. 39% of the people viewed blockchain as being overhyped. The executives who are most interested in blockchain technology by industry are Automotive industry: 73%, Oil and Gas industry: 72%, Live Sciences: 72% being the most bullish on blockchain technology. 84% of executives polled expect blockchain to provide more security than conventional IT systems. 32% of executives expect greater speed. 28% of executives are looking for new revenue models. Only 2% perceive no significant advantage of blockchain over existing systems. 42% of surveyed view blockchain as a critical strategic priority for their organization. According to 39% of people surveyed, regulatory issues present the greatest barrier to further investment in blockchain technology. 37% of executives are more concerned with the actual implementation of the technology. Citing things like lack of in-house understanding of how to implement blockchain technology. 45% of companies are considered to be likely to join a blockchain consortium with competitors while 29% are already a part of a blockchain consortium. 52% of companies are focused on permissioned blockchains. So we are going to see a lot of permissioned blockchains within companies so that’s not surprising but 44% are prioritizing public blockchains. There are going to be a lot of companies that don’t really do very much in terms of buying bitcoin or any other cryptocurrency but there are will be a lot of companies that will because the use case for public blockchain is very real and the use case for value transfer is very real and companies recognize that. Some of the biggest use cases that companies are looking at are supply chain, internet of things and digital identity. A lot of that has very strong value on public blockchains in particular. So public blockchains such as bitcoin will see a lot of use. If we assume that as surveyed, 44% of the world’s top 1000 businesses start using pubic blockchains such as bitcoin and ethereum on a regular basis. What do you think that is going to do for the price and adoption? The United States is lagging behind overall, especially behind the other nations, particularly which were polled: China, Canada, Germany. Going back to the regulatory concerns which are probably holding back a lot of American executives from getting more into blockchain technology particularly into public crypto assets such as bitcoin or ethereum. The report from Deloitte finishes up saying that blockchain is not ready for prime time yet, it is getting closer to its break out moment every day. The report states the momentum is shifting from a focus on learning and exploring the potential of the technology to identifying and building practical business applications. If we go back to when the internet started and invest in companies that became the big things, that’s what we have right now with cryptocurrencies. Though there will be companies that won’t need crypto assets themselves, they’ll be using blockchain technology but we are going to have a lot of companies which are going to be using these public blockchains for a wide range of use cases. This is going to be the new internet of value and the future of the web and cryptocurrencies are going to play a very strong part in that. The crypto markets are just these powder cakes ready to blow. We have institutional investors coming in, we have better infrastructure than we have ever had before for the crypto industry and businesses are using and investing in blockchain technology. Let us know your opinion on the Deloitte’s report in the comments section below. Continue Reading #Bitcoin How Accepting Bitcoin Can Help Your Business Published 2 weeks ago on January 5, 2019 By Guest Author Recently, cryptocurrencies and bitcoin have become the main topics in the financial industry. A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining characteristic of a cryptocurrency and arguably its most endearing allure is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation. Cryptocurrencies have their benefits and drawbacks. The paper elaborates different aspects of cryptocurrencies, starting with their early development, challenges and risks, opportunities, advantages and disadvantages, and their future. Also, the paper covered issues related to the practical and technical function of cryptocurrencies. It was concluded that it is not easy to predict the future of cryptocurrencies since there is a lot to be done especially in the field of formal regulations. However, the banks and other financial institutions should see and consider cryptocurrencies as an alternative for the financial transactions in the future. Faster, Cheaper Payment Solution Bitcoin transactions can occur at any time, are fast and have lower fees. The average Bitcoin transaction is executed in 10 minutes with fees for simple P2P transfers to remittances coming in at under 1%. This is due in large part to the fact that traditional third-party financial institutions like banks are removed from the transaction process. Merchants and individuals using bitcoins are not restrained by set banking hours, withdrawal limits or long transaction execution periods before funds become available. Safeguards Against Currency Manipulation Bitcoin is not owned or controlled by a country or governing body. Additionally, unlike many other forms of currency, the number of bitcoins that will be issued is finite, exactly 21 million. The benefit of this lack of ownership and the limited amount is that the bitcoin supply cannot be artificially manipulated. When it comes to fiat currency, governments can easily print additional paper or mint coins, devaluing existing money in circulation and causing inflation. The decentralized nature of bitcoin decreases monetary concerns and mostly leaves fluctuations in value up to natural supply and demand economics. Greater Consumer Protections The use of bitcoin as an alternative to fiat currency protects the downside that can occur with traditional bank accounts. This includes the threat of bank failure or skimming. In the event of a bank failure, a customer can face frozen bank accounts while liquidation plans or bailouts are hashed out. In some countries, traditional bank customers may even find that banks will skim money off of customer’s accounts to remain solvent. This occurred during the banking crisis faced by Cyprus in 2013. With bitcoin, individuals remain in full control of when and how their assets are retrieved, transferred and spent. Essentially, digital currency users become their bank. Greater Transparency Because all bitcoin transactions are permanently recorded on the blockchain, all sales are public and traceable. The balance associated with each address is also part of the public record. The blockchain makes bitcoin much more transparent than many other monetary systems. Private and Secure Although all bitcoin transaction details are stored publicly on the blockchain, the identities of the users involved remain relatively anonymous. Because payments can be made without including personal identification information, Bitcoin provides inherent security against identity theft. Additionally, there is no risk of being charged twice or of fraudulent charges being assessed to your wallet thanks to the blockchain, which monitors unique coin addresses and eliminates the possibility of paying multiple people with the same bitcoin. Bitcoin doesn’t offer the complete anonymity of cash but is undoubtedly a far more private experience than making online payments or transactions using debit or credit cards. Final Thoughts Bitcoin is currently the most valuable and widely adopted digital currency. A growing number of businesses, charities, and other organizations are accepting bitcoin payments ranging from e-retailers to law firms to sports franchises. Further, recent inflationary and banking crises across the globe have highlighted some of the critical threats inherent to fiat currency. This creates additional opportunities for decentralized digital currencies. Education will be essential to increasing Bitcoin’s acceptance and usage by merchants, institutions, and individuals. The system will also need to address common criticisms around illicit use of bitcoin and work diligently to build regulatory and legal frameworks around the world. 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