Creators of NFT game Axie Infinity intend to raise $150 million at $3 billion valuation
The makers of Axie Infinity, the online game intend to raise $150 million in a Series B round of investment at a valuation of $3 billion, The Information reported citing sources. Venture capital firm Andreessen Horowitz (a16z) will be the lead investor, they said.
Axie Infinity was introduced by Vietnamese studio Sky Mavis in 2018 and has gained popularity in recent months amid interest in NFT and gaming blockchain projects. Axie Infinity's own token (AXS) has more than doubled in value in the past week and is close to the top 20 of the crypto market at a capitalization of $9.5 billion.
According to The Information, Axie Infinity's projected revenue from in-game transactions this year is $1 billion, of which 17% will go to Sky Mavis. Axie Infinity generated $782 million in revenue in the third quarter, 48 times more than the previous quarter, according to analyst Ryan Watkins.
A few days before that, the developers announced a $60 million token distribution to early adopters, the launch of Staking, and a decentralized exchange. Already, 12.65 million ASX worth $1.8 billion at the current exchange rate have been deposited into the stack at an annual interest rate of 186%.
"The rise in price may be due to the increasing popularity of Axie and the ease of joining," explained Signum Capital partner John Pangilinan. - In addition, I think Axie has been smart about their marketing. I don't think they have any competitors with comparable success in the market right now. This is a feature that appeals to players and retail investors alike."
The makers of Axie Infinity, the online game intend to raise $150 million in a Series B round of investment at a valuation of $3 billion, The Information reported citing sources. Venture capital firm Andreessen Horowitz (a16z) will be the lead investor, they said.
Axie Infinity was introduced by Vietnamese studio Sky Mavis in 2018 and has gained popularity in recent months amid interest in NFT and gaming blockchain projects. Axie Infinity's own token (AXS) has more than doubled in value in the past week and is close to the top 20 of the crypto market at a capitalization of $9.5 billion.
According to The Information, Axie Infinity's projected revenue from in-game transactions this year is $1 billion, of which 17% will go to Sky Mavis. Axie Infinity generated $782 million in revenue in the third quarter, 48 times more than the previous quarter, according to analyst Ryan Watkins.
A few days before that, the developers announced a $60 million token distribution to early adopters, the launch of Staking, and a decentralized exchange. Already, 12.65 million ASX worth $1.8 billion at the current exchange rate have been deposited into the stack at an annual interest rate of 186%.
"The rise in price may be due to the increasing popularity of Axie and the ease of joining," explained Signum Capital partner John Pangilinan. - In addition, I think Axie has been smart about their marketing. I don't think they have any competitors with comparable success in the market right now. This is a feature that appeals to players and retail investors alike."
U.S. arrests nuclear engineer who sold classified data for cryptocurrency
A U.S. Navy nuclear engineer and his wife are accused of trying to sell classified data for the cryptocurrency Monero.
The Federal Bureau of Investigation unsealed a criminal case Friday against Maryland residents Jonathan and Diane Tobbe, who are accused of intending to sell information about the design of America's Virginia-class nuclear submarines to an unnamed foreign government.
Jonathan Tobbe had been involved in the Navy's nuclear propulsion program since 2012 and had Defense Department clearance for classified documents. Through his actions, he violated provisions of the Atomic Energy Act that prohibit the dissemination of nonpublic nuclear energy information with the intent to harm the United States or give an advantage to a foreign government, the prosecution alleges.
On April 1, 2020, Tobbe sent a sample of classified information to a foreign country to establish further interaction. He subsequently entered into correspondence with a person he believed represented a foreign government. He and his wife attempted to sell the classified information three times between June 8 and October 9, 2021. In all cases, they were met by an undercover agent to whom they provided information on SD cards. In one episode, the card was hidden in a packet of chewing gum, and in another, in a bag embedded in a peanut butter sandwich.
The pair managed to get more than $100,000 in Monero cryptocurrency before being arrested this past Saturday. It is expected that the Tobbe case could become a new argument for U.S. lawmakers, who have recently been increasingly focused on the illegal use of cryptocurrencies. In June, the White House administration equated ransomware attacks with terrorism for investigative purposes.
A U.S. Navy nuclear engineer and his wife are accused of trying to sell classified data for the cryptocurrency Monero.
The Federal Bureau of Investigation unsealed a criminal case Friday against Maryland residents Jonathan and Diane Tobbe, who are accused of intending to sell information about the design of America's Virginia-class nuclear submarines to an unnamed foreign government.
Jonathan Tobbe had been involved in the Navy's nuclear propulsion program since 2012 and had Defense Department clearance for classified documents. Through his actions, he violated provisions of the Atomic Energy Act that prohibit the dissemination of nonpublic nuclear energy information with the intent to harm the United States or give an advantage to a foreign government, the prosecution alleges.
On April 1, 2020, Tobbe sent a sample of classified information to a foreign country to establish further interaction. He subsequently entered into correspondence with a person he believed represented a foreign government. He and his wife attempted to sell the classified information three times between June 8 and October 9, 2021. In all cases, they were met by an undercover agent to whom they provided information on SD cards. In one episode, the card was hidden in a packet of chewing gum, and in another, in a bag embedded in a peanut butter sandwich.
The pair managed to get more than $100,000 in Monero cryptocurrency before being arrested this past Saturday. It is expected that the Tobbe case could become a new argument for U.S. lawmakers, who have recently been increasingly focused on the illegal use of cryptocurrencies. In June, the White House administration equated ransomware attacks with terrorism for investigative purposes.
Brazilians bought $4.3 billion worth of cryptocurrencies in 2021
Brazil has set its own record and has already bought R$23.3 billion worth of cryptocurrencies. The figures were released by the Central Bank in a report on Friday, and the total amount in dollar terms is $4.270 billion since January 2021.
The purchase value in August was $496 million, but crypto-asset purchases peaked in May, when Brazilians bought $756 million. That month, the Brazilian market broke a record, trading VTCs for R$826 million (or $146 million) in a single day.
Those numbers have since fallen ($695 million in June and $583 million in July), but they are still much higher than what they were at the beginning of the year in Brazil: crypto-active purchases totaled $386 million in February and $357 million in March.
Bruno Serra, director of monetary policy at BC, noted during a video conference hosted by Upon Global that there is potential for growth in the country's crypto turnover, and the numbers could reach 50 billion reais, or $10 billion, over the year.
However, the specialist made a caveat, clarifying:
"This is a one-way flow of crypto assets in Brazil. Because of the high cost of energy, the country does not produce cryptocurrencies, we are just importers and participants in international circulation."
The Central Bank of Brazil first conducted an analysis of imports and exports of crypto-assets in external sector statistics in August this year. At that time, BC President Roberto Campos Neto said that there was a significant increase in demand for cryptocurrencies.
In Brazil, as in most countries of the world, there is no clear legislative principle to regulate and track the movement of cryptocurrencies in the country. However, the Central Bank decided to follow the IMF methodological recommendation that cryptocurrencies are treated as commodities (non-financial and manufactured assets) in such a way that they should be recorded in external sector statistics, not included in commodity statistics.
Transactions in crypto-assets are valued based on foreign exchange contracts, a legal instrument that records negotiations between the buyer and seller of foreign currency, as required by the Central Bank.
Since August of this year, transfers of ownership of crypto-assets between residents and non-residents began to be reflected in the balance of payments account.
Brazil has set its own record and has already bought R$23.3 billion worth of cryptocurrencies. The figures were released by the Central Bank in a report on Friday, and the total amount in dollar terms is $4.270 billion since January 2021.
The purchase value in August was $496 million, but crypto-asset purchases peaked in May, when Brazilians bought $756 million. That month, the Brazilian market broke a record, trading VTCs for R$826 million (or $146 million) in a single day.
Those numbers have since fallen ($695 million in June and $583 million in July), but they are still much higher than what they were at the beginning of the year in Brazil: crypto-active purchases totaled $386 million in February and $357 million in March.
Bruno Serra, director of monetary policy at BC, noted during a video conference hosted by Upon Global that there is potential for growth in the country's crypto turnover, and the numbers could reach 50 billion reais, or $10 billion, over the year.
However, the specialist made a caveat, clarifying:
"This is a one-way flow of crypto assets in Brazil. Because of the high cost of energy, the country does not produce cryptocurrencies, we are just importers and participants in international circulation."
The Central Bank of Brazil first conducted an analysis of imports and exports of crypto-assets in external sector statistics in August this year. At that time, BC President Roberto Campos Neto said that there was a significant increase in demand for cryptocurrencies.
In Brazil, as in most countries of the world, there is no clear legislative principle to regulate and track the movement of cryptocurrencies in the country. However, the Central Bank decided to follow the IMF methodological recommendation that cryptocurrencies are treated as commodities (non-financial and manufactured assets) in such a way that they should be recorded in external sector statistics, not included in commodity statistics.
Transactions in crypto-assets are valued based on foreign exchange contracts, a legal instrument that records negotiations between the buyer and seller of foreign currency, as required by the Central Bank.
Since August of this year, transfers of ownership of crypto-assets between residents and non-residents began to be reflected in the balance of payments account.
Crypto exchange FTX raised almost $500 million in a recent funding round
Popular cryptocurrency exchange FTX in the last round of funding, which began in July this year, has attracted $420 million. It is known that against the background of this event, the total user base of the trading platform has grown by almost 50%. In addition, the volume of trading increased by an average of 75%. Due to all of the above, the total valuation of the crypto exchange today is $25 billion.
The funding round was opened by one of the trading platform's units - FTX Trading. Supported the exchange financially 69 investors. It is known that they included the Council of Ontario Teachers' Pension Plan and Temasek, an investment company under the government of Singapore.
According to official data, in addition to little-known companies, large venture capital companies already known to the market also took part in the round of financing. Among them are such giants as Sequoia Capital, Tiger Global, Sea Capital, Ribbit Capital and Lightspeed Venture Partners.
Ramnik Arora, CEO of the cryptocurrency exchange, said that raising new funds will allow the platform to significantly expand its capabilities in the market. To do this, by the way, they want to do through the issue of non-financial tokens, the conclusion of new partnerships and the issue of shares.
Recall, earlier our edition reported that the cryptocurrency exchange FTX intends to launch a platform for trading non-financial tokens for residents of the United States.
Popular cryptocurrency exchange FTX in the last round of funding, which began in July this year, has attracted $420 million. It is known that against the background of this event, the total user base of the trading platform has grown by almost 50%. In addition, the volume of trading increased by an average of 75%. Due to all of the above, the total valuation of the crypto exchange today is $25 billion.
The funding round was opened by one of the trading platform's units - FTX Trading. Supported the exchange financially 69 investors. It is known that they included the Council of Ontario Teachers' Pension Plan and Temasek, an investment company under the government of Singapore.
According to official data, in addition to little-known companies, large venture capital companies already known to the market also took part in the round of financing. Among them are such giants as Sequoia Capital, Tiger Global, Sea Capital, Ribbit Capital and Lightspeed Venture Partners.
Ramnik Arora, CEO of the cryptocurrency exchange, said that raising new funds will allow the platform to significantly expand its capabilities in the market. To do this, by the way, they want to do through the issue of non-financial tokens, the conclusion of new partnerships and the issue of shares.
Recall, earlier our edition reported that the cryptocurrency exchange FTX intends to launch a platform for trading non-financial tokens for residents of the United States.
Singapore, China and Hong Kong topped the list of "NFT" searches on Google
According to statistics from Google Trends, early fall again saw a record number of "NFT" searches. The last time a similar number of citizens searched for information about non-substitutable tokens was in March last year. It is known that the highest interest to NFT in September 2021 came from the inhabitants of the Asia-Pacific region. In particular, such countries as China, Singapore and Hong Kong were in the top three.
According to the report of the above service, the first place among the countries actively interested in NFT is China. The index reached 100 points. In second place is Singapore with a score of 67 points, and Hong Kong in third place with 62 points. In addition to these most populous nations, the list includes countries such as the United States, New Zealand, Canada, the Philippines, Cyprus and Venezuela.
Based on the fact that China leads in the number of search queries "NFT", it is possible that the country may completely switch to the use of non-exchangeable tokens. Such opinion was expressed by an employee of a reputable business publication Bankless Times. The expert believes that this is due to the fact that at the end of September China completely abandoned the use of digital assets, so it is urgent to find an alternative.
According to statistics from Google Trends, early fall again saw a record number of "NFT" searches. The last time a similar number of citizens searched for information about non-substitutable tokens was in March last year. It is known that the highest interest to NFT in September 2021 came from the inhabitants of the Asia-Pacific region. In particular, such countries as China, Singapore and Hong Kong were in the top three.
According to the report of the above service, the first place among the countries actively interested in NFT is China. The index reached 100 points. In second place is Singapore with a score of 67 points, and Hong Kong in third place with 62 points. In addition to these most populous nations, the list includes countries such as the United States, New Zealand, Canada, the Philippines, Cyprus and Venezuela.
Based on the fact that China leads in the number of search queries "NFT", it is possible that the country may completely switch to the use of non-exchangeable tokens. Such opinion was expressed by an employee of a reputable business publication Bankless Times. The expert believes that this is due to the fact that at the end of September China completely abandoned the use of digital assets, so it is urgent to find an alternative.
Breakout week: LightCoin soars to a seven-month high
Lightcoin (LTC) rose this week to its highest level since mid-May 2021.
On the night of Wednesday, November 10, the cryptocurrency price soared to $273, its highest value since May 18. LTC's capitalization now exceeds $18.656 billion.
The increase in the value of the altcoin is seen against a backdrop of weak network activity. According to BitinfoCharts, the average daily number of transactions on the litecoin blockchain fell to 133,500 this week.
Last week, the network was processing more than 153,000 transactions a day.
Analyst Ali Martinez believes that the important event in this bull cycle was the overcoming of resistance at $217. The expert predicted the rise of LTC above $260 last Monday. In the end, he turned out to be right, and now traders expect the $260 mark to become a strong support zone for LiteCoin.
The cryptocurrency's surge was the result of capital inflows into the cryptosphere. As a reminder, bitcoin rose to an all-time high the day before.
The investment appeal of LTC will increase in the coming months if the developers launch a platform for NFT tokens. The Litecoin Foundation team issued a statement to that effect back in September.
Lightcoin (LTC) rose this week to its highest level since mid-May 2021.
On the night of Wednesday, November 10, the cryptocurrency price soared to $273, its highest value since May 18. LTC's capitalization now exceeds $18.656 billion.
The increase in the value of the altcoin is seen against a backdrop of weak network activity. According to BitinfoCharts, the average daily number of transactions on the litecoin blockchain fell to 133,500 this week.
Last week, the network was processing more than 153,000 transactions a day.
Analyst Ali Martinez believes that the important event in this bull cycle was the overcoming of resistance at $217. The expert predicted the rise of LTC above $260 last Monday. In the end, he turned out to be right, and now traders expect the $260 mark to become a strong support zone for LiteCoin.
The cryptocurrency's surge was the result of capital inflows into the cryptosphere. As a reminder, bitcoin rose to an all-time high the day before.
The investment appeal of LTC will increase in the coming months if the developers launch a platform for NFT tokens. The Litecoin Foundation team issued a statement to that effect back in September.
Popular NFT marketplace in the Tezos ecosystem unexpectedly shut down
The top Tezos-based NFT marketplace (XTZ) unexpectedly shut down.
Hic et nunc, one of Tezos' key markets for non-interchangeable tokens, has closed its business. The project's official Twitter feed is still up, but its administrators don't explain the reasons for the move.
It is still possible to use mirror sites for access - but users are warned: this may not be safe. One way or another, the NFTs have been retained by their owners - the data on the tokens is prescribed in the Tezos registry.
For reference:
Tezos is a blockchain platform whose idea was introduced in 2014. It was launched in 2018. The key feature is the ability to make changes to the blockchain functionality on the fly and with minimal edits through an agreement within the community.
The top Tezos-based NFT marketplace (XTZ) unexpectedly shut down.
Hic et nunc, one of Tezos' key markets for non-interchangeable tokens, has closed its business. The project's official Twitter feed is still up, but its administrators don't explain the reasons for the move.
It is still possible to use mirror sites for access - but users are warned: this may not be safe. One way or another, the NFTs have been retained by their owners - the data on the tokens is prescribed in the Tezos registry.
For reference:
Tezos is a blockchain platform whose idea was introduced in 2014. It was launched in 2018. The key feature is the ability to make changes to the blockchain functionality on the fly and with minimal edits through an agreement within the community.
DeFi protocols have lost $10.5 billion since the start of 2021
A study by Elliptic says users of projects deployed in the DeFi marketplace have lost $10.5 billion since the beginning of 2021 due to hacking and fraudulent schemes. Last year, the loss was only $1.5 billion.
According to DeFiLlama, in June 2020, the value of funds locked up in the decentralized finance marketplace was about $1 billion. This year, that amount ballooned to $250 billion.
In parallel, analysts remind us, the number of users of DeFi-protocols has risen sharply. The most popular blockchains for applications are Ethereum, Solana and Binance Chain. The most affected were protocols deployed on ethereum.
The researchers emphasized:
"Many projects were launched by startups with poor cybersecurity and transaction tracking. This factor is what made them attractive targets for attackers ranging from lone-wolf hackers to nation-states."
DeFi protocols based on etherium have lost about $8.6 billion. Binance Chain projects have suffered $2.5 billion in damage from cybercriminal activity since the beginning of last year, the Elliptic report noted.
A study by Elliptic says users of projects deployed in the DeFi marketplace have lost $10.5 billion since the beginning of 2021 due to hacking and fraudulent schemes. Last year, the loss was only $1.5 billion.
According to DeFiLlama, in June 2020, the value of funds locked up in the decentralized finance marketplace was about $1 billion. This year, that amount ballooned to $250 billion.
In parallel, analysts remind us, the number of users of DeFi-protocols has risen sharply. The most popular blockchains for applications are Ethereum, Solana and Binance Chain. The most affected were protocols deployed on ethereum.
The researchers emphasized:
"Many projects were launched by startups with poor cybersecurity and transaction tracking. This factor is what made them attractive targets for attackers ranging from lone-wolf hackers to nation-states."
DeFi protocols based on etherium have lost about $8.6 billion. Binance Chain projects have suffered $2.5 billion in damage from cybercriminal activity since the beginning of last year, the Elliptic report noted.
Omicron's DeFi-Protocol token goes up 10 times in price thanks to new strain of coronavirus
Omicron's DeFi-Protocol (OMIC) token went from $70 to more than $700 after the World Health Organization gave the same name to the recently discovered coronavirus strain B.1.1.529.
Omicron hit the market earlier this month, a few weeks before the events that caused bitcoin and global markets to fall last Friday. Although the developers couldn't have known about them in advance, the letters of the Greek alphabet are used to designate strains of the coronavirus, so it was logical to assume that Omicron would appear sooner or later.
The DeFi-protocol is based on the Arbitrum technology used to scale the Ethereum network and allows users to participate in income farming. OMIC is backed by a basket of assets, including the USDC Stablecoin, and is traded on the decentralized SushiSwap exchange.
"Bought OMIC for 9 ETH. I don't think it's a good choice, but I want to try my luck with a meme token for money that won't affect my life," one investor writes.
OMIC's issuance limit is 1 million tokens, but the current float is unknown, as is the market capitalization. Despite the impressive rate hike, OMIC's turnover in the last 24 hours is only $675,000.
Omicron's DeFi-Protocol (OMIC) token went from $70 to more than $700 after the World Health Organization gave the same name to the recently discovered coronavirus strain B.1.1.529.
Omicron hit the market earlier this month, a few weeks before the events that caused bitcoin and global markets to fall last Friday. Although the developers couldn't have known about them in advance, the letters of the Greek alphabet are used to designate strains of the coronavirus, so it was logical to assume that Omicron would appear sooner or later.
The DeFi-protocol is based on the Arbitrum technology used to scale the Ethereum network and allows users to participate in income farming. OMIC is backed by a basket of assets, including the USDC Stablecoin, and is traded on the decentralized SushiSwap exchange.
"Bought OMIC for 9 ETH. I don't think it's a good choice, but I want to try my luck with a meme token for money that won't affect my life," one investor writes.
OMIC's issuance limit is 1 million tokens, but the current float is unknown, as is the market capitalization. Despite the impressive rate hike, OMIC's turnover in the last 24 hours is only $675,000.