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The Metaverse will change the live music experience, but will it be decentralized?

The Metaverse will change the live music experience, but will it be decentralized?

Widespread adoption of virtual reality could be the next big step for live music, which in turn could be the key to mass adoption of NFTs and DAOs.

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Price analysis 1/28: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

Price analysis 1/28: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX

Technical analysis points toward early bottoming signs in BTC and altcoins, but analysts forecast another sharp downside move.

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Bitcoin Bearish Signal: Binance Observes Massive Inflow Of 10k BTC

Bitcoin on-chain data shows the crypto exchange Binance  observed large inflows amounting to almost 10k BTC yesterday.

Bitcoin Netflow Shows A Huge Positive Spike As 10k BTC Enters Binance

As pointed out by an analyst in a CryptoQuant post, the BTC netflow had a big positive spike yesterday, a sign that’s usually bearish for the price.

The “all exchanges netflow” is an indicator that measures the net amount of Bitcoin entering or exiting wallets of all exchanges. The metric’s value is simply calculated by taking the difference between the inflows and the outflows.

When the indicator has positive values, it means there are currently more inflows happening than outflows. Such a trend is often bearish as investors usually deposit their Bitcoin for selling purposes.

On the other hand, when the value of the metric is negative, it implies outflows are overwhelming inflows as a net amount of BTC is exiting exchanges. This kind of trend can be bullish for the price of the crypto as holders generally withdraw their coins to hold them.

Related Reading | Bitcoin Leverage: Lack Of Liquidations Could Indicate Another Wave Of Selling

Now, here is a chart that shows the trend in the Bitcoin netflow over the last couple of months:

Looks like the value of the metric showed a huge positive spike recently | Source: CryptoQuant

As you can see in the above graph, yesterday the Bitcoin netflow showed that almost 10k BTC entered exchanges yesterday within an hour.

A look at the chain data reveals these inflows were to Binance. Interestingly, just a few hours later, the crypto exchange Gemini observed an outflow of about 10k BTC, cancelling out these inflows and making the netflow neutral again.

The negative spike makes up for the positive one from a few hours earlier | Source: CryptoQuant

As mentioned earlier, inflows are usually bearish for the price of Bitcoin. However, since outflows of the same amount occurred just a couple of hours later, the netflows effectively became neutral.

Related Reading | Anthony Scaramucci Urges Bitcoin Holders To Think Long-Term As Downtrend Won’t Last

Now, outflows can be bullish for the price if they occurred for the purpose of accumulation. But that doesn’t necessarily have to be the case. If the investors who were behind the withdrawal intend to sell them through OTC deals, the effect on the price may be bearish instead.

BTC Price

At the time of writing, Bitcoin’s price floats around $ 36.8k, down 12% in the last seven days. The below chart shows the trend in the value of the coin over the last five days.

BTC’s price has retraced a lot of the recovery that it made over the last few days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradignView.com, CryptoQuant.com
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Turkish president orders ruling party to organize metaverse forum

Turkish president orders ruling party to organize metaverse forum

Turkish officials have recently identified the metaverse as a priority area for policy development.

Cointelegraph.com News

Here’s how to keep your crypto safe

Here’s how to keep your crypto safe

Cointelegraph.com News

Animoca Brands doubles valuation to $5B, OpenSea tops $3.5B in January volume, Microsoft eyes Metaverse gaming: Hodler’s Digest, Jan. 16-22

Animoca Brands doubles valuation to $5B, OpenSea tops $3.5B in January volume, Microsoft eyes Metaverse gaming: Hodler’s Digest, Jan. 16-22

Cointelegraph.com News

Bearish chart pattern hints at $70 Solana (SOL) price before a possible oversold bounce

Bearish chart pattern hints at $70 Solana (SOL) price before a possible oversold bounce

A confirmed head and shoulders pattern on SOL’s daily chart points toward a drop to $ 70.

Cointelegraph.com News

NFTs: Forget apes and penguins — Let’s talk diapers, hardware and museums

NFTs: Forget apes and penguins — Let’s talk diapers, hardware and museums

Nonfungible tokens represent a seachange of strategic opportunities for brand marketers as they look to engage their prospects and customers.

Cointelegraph.com News

SIDUS HEROES: Merging NFTs, DeFi, and Gaming Into a Play-To-Earn Metaverse

The race to set up the building blocks of the metaverse is on and many companies are hard at work establishing the world’s first open-source, decentralized virtual universe.

This race has in part been galvanized by the rise of NFTs (Non-Fungible Tokens), whose values have shot up in price in direct correlation with rising cryptocurrency prices.

One of the biggest initiatives out there currently working to establish a metaverse with a play-to-earn gaming model is the SIDUS HEROES project. This is a first-of-its-kind Web Graphics Library (WebGL) and massively multiplayer online role-playing game (MMORPG) platform set in an outer space metaverse scenario at a time when machines have merged with living things. Inside the SIDUS HEROES universe, life, as we know it, has changed beyond anything we’d recognize today, and the technology, having permeated everyday life, has passed the point of no return.

The game provides players with the adventure of interstellar exploration and a battle royale experience, as well as the opportunity to build social, political, and economic partnerships within the game’s ecosystem. In this metaverse with its play-to-earn economy, players fight for scarce resources that are scattered throughout its universe.

The platform’s economy is supported by a two-token system – one that is used in payment for work or services rendered and the other to enable voting as members of the platform’s decentralized autonomous organization (DAO).

What Exactly is SIDUS HEROES?

At its core, SIDUS HEROES is an MMORPG that’s built using the play-to-earn model, which means it incorporates aspects of decentralized finance, NFTs, and blockchain connectivity. By doing so, it hopes to establish a thriving metaverse economy.

SIDUS HEROES is a new type of video game where players get to earn real rewards for their efforts or actions in the game. Thanks to the incorporation of NFTs into its blockchain, each player gets ownership rights over the in-game assets they either earn as rewards or purchase using the platform’s native tokens.

The game’s internal economy is built with tangible value in mind, thereby making a substantial contribution to the leisure economy in which players can earn a living from simply playing games and interacting on the platform.

What’s more, SIDUS HEROES takes the entire concept to an entirely different level owing to an infrastructure that allows players to engage with the platform, without having to download sophisticated applications onto their PC, Android, iOS or Mac devices.

With a simple click of a button, players can begin experiencing the SIDUS HEROES universe using any browser, since the platform comes with a Web Graphics Library (WebGL).

How the SIDUS HEROES Game Works

As mentioned earlier, the game is set in a futuristic universe inhabited by 12 races. There are different communities within the game’s metaverse based on the different races. The features that come with a player’s avatar are determined by the race it belongs to.

Due to the different races, the gameplay involves clashes and battles between the races. Players can form groups with other individuals from different backgrounds to push a common agenda within the SIDUS HEROES game.

Players can build fighting legions, do battles with other players in the Arena or challenge other players to a duel. Other players may instead choose to explore the SIDUS HEROES metaverse and seek out adventures or become outer space pirates who plunder the virtual seas. Explorers traveling through the SIDUS HEROES universe also get to discover hidden gems in the form of monsters and other space creatures that can be tamed, bred, and used in battles. These in-game space creatures are bought as NFTs and can be traded for other digital assets within the platform’s ecosystem.

What’s more, players with a creative bent can become farmers, builders, and creators using the platform’s NFTs infrastructure to mint new in-game assets that can be sold within the platform’s ecosystem.

SIDUS HEROES Tokenomics

The platform’s economic model influences the gaming experience and is tied to its play-to-earn model, which is designed to incentivize players to keep coming back to the platform. The team behind the platform believes that the incentives built into the metaverse are enough to keep each player engaged for at least 3 years, thanks to the earning opportunities they’ve incorporated into it.

Players don’t just earn from fighting, there are rewards to be had from contributing to the labor market through the platform’s supported professions, which depend on where the player prefers to operate. Each profession has an important role in the game’s ecosystem.

For this reason, the SIDUS HEROES platform features a dual-token economy. Its two native tokens are the SIDUS and the SENATE.

Both tokens act as the platform’s internal currency and can be used to make purchases. However, only the SENATE token can be used to buy premium assets such as virtual plots of land and spaceships or station modules within the game. The SIDUS token, on the other hand, is primarily used to purchase wearable NFTs for a player’s avatar, as well as other enhancements and equipment within the game.

When it comes to the platform’s governance and decision-making through the DAO, players holding the SENATE token get to vote on various changes to the SIDUS HEROES universe. Payments for other internal services and platform commissions are made with the SIDUS token.

Both tokens benefit from a deflationary process, which creates positive pressure on the demand for the platform’s in-game assets. The maximum supply of SENATE tokens stands at 300 million and 30 billion for SIDUS tokens.

NFTs in the SIDUS HEROES Metaverse

Non-fungible tokens are a key aspect of building any metaverse and the team behind the SIDUS HEROES project has brought together numerous artists and developers to design a unique NFT concept.

Within the SIDUS HEROES metaverse, every in-game asset, whether it be a spaceship, a character, or a piece of equipment, is an NFT. The platform uses a proprietary blockchain network in addition to WebGL technology, allowing every player to have easy access without the need for additional sophisticated devices or software.

WebGL makes it possible for each player to dive into the game and experience the incredible 3D graphics that make up the SIDUS HEROES metaverse, using only a simple browser. This makes access to the platform’s NFTs very easy, especially for a global audience who is eager for a simplified way to own and trade NFTs.

Not only can NFTs be bought and sold on the platform’s marketplace, but there are also special edition NFTs. Overall, the platform features 3 NFT collections which include the SIDUS NFT HEROES, the SIDUS GENESIS NFTs, and the SIDUS ACADEMY NFTs. The SIDUS NFT HEROES features a collection of 6,000 unique characters and ownership of each NFT from the collection can get a holder an in-game character or a ticket to the SIDUS GENESIS game.

The SIDUS GENESIS NFT collection originates from the SIDUS NFT HEROES collection. This set features a new collection of NFT cards with 3 levels of rarity. Each rare card can give a holder entrance to the game.

Then there is the SIDUS ACADEMY NFTs which are a set of NFTS that will transform into in-game characters giving owners access to the SIDUS HEROES metaverse and game.

SIDUS HEROES Partnerships and Future Outlook

Going forward, the SIDUS HEROES team plans to continue its partner-building strategy with high-profile investors and the most popular YouTube creators. In this way, the project can drum up support with the help of social media influencers and prominent crypto and blockchain VC firms.

So far, the team has partnered with quite a number of notable figures in the blockchain industry, including the fast-growing VC fund Anti Fund, founded by Geoffrey Woo and Jake Paul (the famous YouTuber and entrepreneur).

Apart from Jake Paul’s contribution, the SIDUS HEROES project will also benefit from influencers such as Alex Becker, MrBeast, and EllioTrade, who collectively bring with them an audience of over 120 million.

In the second quarter of 2022, SIDUS HEROES will expand its universe with the addition of new star systems, the launch of a mobile web version, and the launch of a reputation reward system for those loyal to the SIDUS token.

Developments are also underway to establish a launchpad for players, giving them away to raise capital and support for their own in-game projects.

Overall, the SIDUS HEROES team is busy at work building the platform and ensuring that the tokenomics model is stable. The platform’s roadmap envisions a future where NFTs will be used in various ways, including for the purchase of virtual garments, land, avatars, homes, and other items within the game. The intention is to introduce a type of gameplay that’s designed to incentivize players to go beyond seeking entertainment, one that empowers them to become investors and entrepreneurs in their own right.

 

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Price analysis 1/19: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOT, AVAX, DOGE

Price analysis 1/19: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOT, AVAX, DOGE

Sell pressure on BTC and altcoins is beginning to alleviate, but data suggests that it’s too early to call for a reversal.

Cointelegraph.com News