Search results: Metaverse

The Japanese gaming giant is currently somewhere in the Web 2.3 to 2.7 range, says co-Chief Operating Officer Shuji Utsumi.

Japanese multinational gaming firm Sega Corp. is withdrawing from blockchain-based games as play-to-earn games are “boring,” according to Shuji Utsumi, the company’s co-chief operating officer cited by Bloomberg on Friday. 

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

From pay-to-play arcade video games to sales of home consoles, gaming’s evolution into peer-to-peer marketplaces is posing a new challenge to the status quo, writes Jackson Poon.

Hong Kong’s local government on Friday set up the Task Force on Promoting Web3 Development to promote the benefits of blockchain to real-world industries.

Kapoor founded the India Blockchain Alliance five years ago and gives an update on how the technology is being used in police reports to real estate transactions, as well as challenges of CBDC adoption and plans for tokenization of assets. He spoke in an interview for Forkast IQ.

Dmitri Cherniak’s generative art NFT, ‘The Goose’, sold for US$5.4 million at Sotheby’s. The sale, a second highest for generative art, signals NFT art’s growing prominence and potential in the Web3 era.

With the announcement of funding invested in Japanese firm Startale Labs, gaming giant Sony will increase its already active exploration of Web3 and the possibilities inherent in blockchain technologies.

Geisha, kimono, tea ceremony — the Japanese city of Kyoto is a place rich in traditional culture. But as the national government pivots toward the cutting edge potential of digital assets and Web3, the city is this week playing host to one of Asia’s largest crypto get-togethers.

Despite its potential, Web3 gaming has had mixed reviews from gamers and developers, writes Freddie Ng. Here are the challenges and opportunities.

Paul Chan, Hong Kong’s financial secretary, said more than 150 Web3 companies had registered at the Cyberport business park.

Sotheby’s NFT auction sees Ringers #879 rise to the record books as one of the highest ever generative art in Ether value.

Bitcoin dipped below US$25,000 for the first time in three months, as the SEC’s lawsuits continued to erode crypto investor appetite. Bitcoin needs to hold above US$24,000 to avoid more bearish momentum, industry experts told Forkast.

Bitcoin, Ether and most top 10 non-stablecoin cryptos rose in Friday afternoon trading in Asia after weeklong slump.

Bitcoin edges up but still stuck below US$26,000. Ether was little changed amid a weekly fall, while other top 10 crypto were mixed.

Top blockchain and crypto news: Binance.US at risk. Ex-SEC official’s comments complicate Ripple suit. Hong Kong lawmaker aims to entice exchanges.

Tokyo-based information technology company Fujitsu will launch a new platform on June 30 to connect different economies using blockchain.

Recursive inscriptions, an update that allows Ordinals inscriptions to reference another inscription, is set for deployment later this week.

Welcome to Forkast IQ, presented by Forkast’s Megha Chaddah, where we look beyond the headlines to get you insights that power smarter decisions.

Pudgy Penguins CEO Luca Netz says he aims to revolutionize the NFT marketplace, shifting focus from creating virtual assets out of “thin air” to generating real-world revenue via licensing.

All top 10 non-stablecoin cryptocurrencies took a sharp fall Tuesday morning in Asia, after the SEC sued Binance over alleged securities violations.

Bitcoin gained 1.08% on Friday afternoon and Ether strengthened 1.78%.

Top blockchain and crypto news: Miners dodge tax bullet. Blur, Binance heat up NFT lending. Chinese cities’ plans reveal nationwide Web3 ambition.

Bitcoin traded flat on Wednesday morning in Asia, after briefly breaching US$28,000. Ether dipped while other top 10 non-stablecoin tokens traded mixed.

Beijing’s local government on Saturday released a white paper outlining plans and challenges for development of the city’s Web 3.0 industry.

Opinions about Web3 gaming remain divided, but it’s undeniable that NFTs and GameFi offer players big opportunities, writes Ramona Ciocea of Protokol.

Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.

Bitcoin dropped 2.33% to US$26,671. Ether lost 2.15% but traded above US$1,800.

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.

As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.

Bitcoin traded below the US$27,000 mark for most of the week, as investor sentiment was weighed down by the prospect of the U.S. government’s potential default. Investors will be closely monitoring the ongoing debt ceiling negotiations.

Top blockchain and crypto news: Fighting words over USDT erupt on Twitter. Litecoin surges amid memecoin fever. Chinese city bids for blockchain business.

Conflux Network and China Telecom on Tuesday unveiled their first blockchain-based SIM card, which will be piloted in Hong Kong.

While the community might be small, there’s a growing buzz around Web3 in Japan, with overseas companies now taking note. For clues on how to make it big in the land of the rising sun, follow the lead of the nation’s largest firms, says Sebastien Guillemot, co-founder of Paima Studios.

Japan was an early believer in blockchain and cryptocurrencies until exchange hacks brought a crackdown. But that was then. Now the government has become a crypto cheerleader.

Animoca Brands revealed US$2.7 billion in off-balance sheet token reserves in its latest unaudited financial update.

The three-day NexTech Week trade show kicked off Wednesday in Tokyo, celebrating all things technology, including blockchain and Artificial Intelligence.

It’s currently fashionable to publicly knock blockchain gaming, but behind closed doors, a growing number of developers are realizing its potential, writes Tim Dierckxsens of Venly.

NFTs are changing in-game item ownership and value, yet the gaming industry remains skeptical. With microtransactions set to exceed $76 billion this year, it’s time for gamers to understand the benefits of NFT technology.

NFT prices and trading volume are dropping but this could be an indicator of a maturing market.

Bitcoin dropped 2.09% in Tuesday afternoon trade in Asia while Ether lost 0.81%. BNB fell 2.93% and Polkadot declined 2.66%.

Sotheby’s, which accounts for 24% of global art auction sales, has launched an online secondary marketplace for its curated NFTs as the 279-year-old auction house for fine art expands its push into digital assets.

Bitcoin dipped to US$28,000 in Tuesday morning trading in Asia and then fell through that support line later in the morning. Ether and other top 10 cryptocurrencies also fell.

The lack of clarity in crypto rules in the U.S. not only affects exchanges but also this U.S.-based blockchain gaming company, John Linden said.

People won’t want to bother with a new technology if it’s painful to use, even if they’re aware of the potential benefits, writes Toby Rush of Redeem.

Japan’s welcome mat for Web3 is shifting the tone from “buzzword” to opportunity, but success will hinge on the authorities adopting a global, flexible view toward this new technology, says Yudai Suzuki, co-founder of Fracton Ventures.

A clear and balanced legal framework will encourage more crypto investment, while the industry can promote best practices, writes Mahin Gupta of Liminal.

What are ‘trustless oracles,’ and how will they shape the development of the metaverse and Web3? Markus Levin of XYO and XY Labs explains.

The global culture of decentralized autonomous organizations arrived in Japan last week for DAO Tokyo, the first event of its kind in Asia according to the organizers, drawing over 350 founders and contributors from all corners of the world for discussions on all things DAO.

Polygon blockchain is gaining traction among traders with fast transactions, low gas fees and Ethereum’s provenance. From hosting popular games to partnering with major brands, Polygon’s versatility is one to watch.

Alchemy Pay is eyeing expansion in South Korea following its US$10 million funding from blockchain investment firm DWF Labs.

Bitcoin dipped below US$28,000 in mixed Tuesday morning trading in Asia. Ether rose. Dogecoin surged after Elon Musk switched the Twitter icon to Dogecoin’s Shiba Inu.

The Group of Seven industrial countries will discuss tougher rules on cryptocurrencies to improve transparency, protect investors.

Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.

South Korean singer G-Dragon has launched an NFT collection on OpenSea in collaboration with Fandom Studio.

Singapore-based cryptocurrency exchange Crypto.com will soon be able to extend its services in Dubai, after it received a Minimal Viable Product (MVP) Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA). 

Salesforce has partnered with Polygon Labs to help its clients develop non-fungible token (NFT) based loyalty programs on the Polygon blockchain.

Japan’s been a little behind in the Web3 space, but their new Metaverse Economic Zone could be a game changer.

Meta Platforms, the parent company of Facebook and Instagram, will wind down its non-fungible token operations on both social media services.

What began as novel collectibles and rampant speculation is maturing into real-world utility across a multitude of industries, writes Tom Chalmers of Banxa.

Meta Platforms, the parent company of the social media applications Facebook and Instagram, is exploring a decentralized text-based Twitter alternative.

The Forkast 500 NFT Index fell to a near two-month low in Asia trading on Friday morning, with sales slumping on the Ethereum and Solana blockchains, the two biggest for non-fungible tokens. Polygon, the third biggest, saw a sales surge.

Top blockchain and crypto news: Silvergate woes spark bankruptcy talk. LDO dips on false enforcement rumors. Chinese leaders push digital development.

The Forkast NFT 500 Index inched up 0.07% to 4,278.68 in the 24 hours through 9 a.m. in Hong Kong on Wednesday.

Bitcoin and Ether gained in Tuesday afternoon trade in Asia, along with most other top 10 non-stablecoin cryptocurrencies. Polygon’s Matic token led gains followed by XRP and Dogecoin.

Bitcoin and Ether traded mostly flat in a downtrend move for most of the top 10 cryptocurrencies in Tuesday morning in Asia. The new Forkast NFT 500 index slipped.

Look for blockchain, self-reliance in technology discussions in China’s biggest political meetings of the year as China’s President Xi Jinping’s aims to build a digital economy.

American payments giant Visa is not slowing down its cryptocurrency plans despite last year’s bear market, according to the firm’s crypto head Cuy Sheffield.

Chinese smartphone maker Huawei partnered with multiple overseas Web3 firms, as part of the company’s blockchain and metaverse venture.

Yuzo Kano, co-founder of Japan’s largest cryptocurrency exchange bitFlyer Inc., said he plans to return as CEO, sell shares to public.

The Metabirkins case makes clear that NFT trademarks belong to the original creator, bolstering future profit-making opportunities for fashion houses as well as other companies, writes Justin Banon of Boson Protocol.

Bitcoin remained resilient around the US$24,000 level on Tuesday despite Wall Street’s worst day of the year so far. Industry experts are eyeing a potential retest of the US$25,000 psychological level, as a failure to reclaim it may result in a downtrend to around US$21,500.