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Công nghệ

Animoca Brands’ gaming platform GAMEE secures funding from Pantera Capital

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GAMEE, the mobile gaming platform behind the WatBird game, has received an investment from Pantera Capital to expand its presence on The Open Network.

Animoca Brands‘ gaming subsidiary, GAMEE, has received an investment from Pantera Capital, a California-based venture capital firm, to extend its reach across multiple blockchain networks, according to an Aug. 21 press release.

While the funding size was not disclosed, the investment is understood to help GAMEE expand its presence on The Open Network (TON) via WatBird, a Telegram-based app. Animoca notes that the investment from Pantera follows a recent investment GAMEE received from TON Ventures, a venture capital firm focused on backing TON-based startups.

Commenting on the funding, GAMEE co-founder Bozena Rezab said the investment represents a “significant vote of confidence in our vision to seamlessly integrate web3 mechanics into the gaming experiences we’ve cultivated for our community of 90 million gamers.”

“This support will help us accelerate our mission to strengthen the community’s engagement with the TON ecosystem.”

Bozena Rezab

For Pantera Capital, this investment marks another move to double down on its strategic investment in TON. In May, the firm announced its “largest investment ever” in the network, underscoring its belief in TON’s potential ate of the bankrupt FTX exchange. At the time, Pantera said it had decided to invest in TON as the platform to “introduce crypto to the masses because it is used extensively within the Telegram network.”

Although Pantera did not disclose the amount of its investment in GAMEE, it follows a $250 million purchase of Solana (SOL) from the estate of the bankrupt FTX exchange, highlighting the firm’s ongoing commitment to expanding its influence in the blockchain space.

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Phân tích

Banana Gun token ignores the crypto sell-off, spikes 110%

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Banana Gun token price continued its strong rebound on Aug. 17 even as other cryptocurrencies like Bitcoin and Ether retreated. 

The banana token rally accelerates

The Banana (BANANA) token rose for the second consecutive day, reaching a high of $64.47, its highest level since July 26 and 117% above its lowest level in August. The other top-performing tokens were Neiro (NEIRO) and Synapse (SYN), which rose by over 105% and 40%.

Banana Gun’s jump pushed its market cap to over $205 million. It happened in a high-volume environment as the 24-hour volume jumped to over $271 million. 

Additional data shows that Banana’s demand also jumped in the futures market as the open interest rose to a record high of $30.50 million. It had an open interest of $16.50 million on Friday and $11 million on Thursday, according to CoinGlass.

Banana Gun futures open interest | Source: Coinglass

A likely reason for the surge is that Birdeye, an on-chain data aggregator, announced that Banana’s Solana (SOL) bot was available on its ecosystem. The integration means that users can access Banana’s transactions easily and it came a few days after the Solana Reborn launch. 

Additionally, some crypto traders pointed to Banana’s fundamentals for the rally. Data by Dune Analytics shows that the Telegram bot has had over 237,000 lifetime users, 4,745 daily active users, and has handled over $5.8 billion worth of transactions in its lifetime. 

Additionally, the developers have continued to reduce the number of Banana tokens in circulation. Most recently, they burned 2% of the total supply, a move that is aimed at creating value for the tokens in circulation.

Technicals point to more Banana Gun upside

Banana Gun token price | Chart by TradingView

Meanwhile, technicals show that the Banana token may have more upside before retreating. It has already crossed the 50-day and 100-day Exponential Moving Averages, meaning that bulls are in control for now.

At the same time, the Relative Strength Index and the Money Flow Index have crossed the neutral point at 50, meaning that it is not yet overbought. The Murrey Math Lines show that it has more room to run before getting to its ultimate resistance level.

Therefore, the Banana Gun token may continue rising as buyers target the resistance at $75. As with other similar parabolic moves, the token will then retreat as investors start to take profits.

Banana Gun launched in early 2023 at around $10.

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Công nghệ

TON Society launches new program to support early TON developers

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TON, the blockchain network for the web3 ecosystem in Telegram, has unveiled a new program as it looks to support new projects.

Powered by Toncoin (TON) as the native cryptocurrency for governance, staking, and transaction fees, TON is one of the crypto industry’s fastest-growing blockchains.

What’s TON Nest?

The TON blockchain team announced the introduction of TON Nest, a new program that aims to provide mentorship and other support resources to early-stage projects on the network. Nest is an initiative of TON Society, a network of blockchain enthusiasts focused on accelerating TON’s ecosystem growth in Telegram.

In a post on X on Aug. 16, the platform said the new program by the TON Society Worldwide would offer developers a chance to pitch projects, access workshops, and compete against other teams to win rewards.

With Nest, early builders seeking to deploy on TON will have a chance to benefit from private and community-gated workshops. Participants can tap into this new builders-only community.

TON ecosystem growth

In April this year, the TON Society teamed up with artificial intelligence firm HumanCode on an identity verification project. The project provided a $5.9 million incentive program for TON Society members, with the objective of bringing web3 identity to the Telegram ecosystem.

Telegram has increasingly become key to these initiatives, attracting users to the blockchain and crypto space with programs such as the Open League initiative launched in March 2023.

With over 950 million monthly active users, Telegram presents a huge growth opportunity that has helped not just Toncoin, but projects such as Notcoin (NOT), Hamster Kombat and Catizen.

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Phân tích

Red alert: Hamster Kombat futures price crash accelerates

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Hamster Kombat’s sell-off accelerated in the futures market as demand among investors waned.

Hamster Kombat (HMSTR) futures dropped to a record low of $0.1586 on Aug. 16, down by over 50% from its highest level this month. On the positive side, the performance of these pre-market futures may not fully represent what to expect when the airdrop launches.

For one, the futures are only offered by OKX, and their volume is significantly low. Data the platform showed that open interest was just 295,720 HMSTR tokens, while the 24-hour volume was 389,000 tokens.

Hamster Kombat futures price | chart by TradingView

However, there is a risk that the token could drop further if the airdrop happens in this current market environment, where most altcoins are experiencing a bear market.

Additionally, all tap-to-earn tokens that have listed recently have dropped by double digits. Notably, Notcoin (NOT) token has crashed by over 68% from its highest level in June. It’s performance is a sign of what might happen when its airdrop happens.

Hamster Kombat’s futures trading is happening at a time when there are signs that activity on the network is slowing. For instance, the platform’s YouTube channel’s growth has stalled. After hitting over 30 million subscribers in a month, the total subscriber count stood at 35 million on Aug. 16. 

Hamster Kombat, which claims to have over 300 million users, faces significant challenges ahead. The biggest one will be maintaining user engagement when the airdrop finally launches, allowing users to sell their HMSTR tokens.

In the past, many blockchain companies have faced similar situations where initial enthusiasm fades. For example, Shiba Inu (SHIB), one of the most popular meme coins, rose to $0.000088 in 2021 and has since retreated by 85% to $0.000015.

Similarly, Decentraland (MANA), which once had thousands of daily active users in 2021, now has less than 1,000 monthly users.

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Phân tích

Notcoin bets on Web3 gaming as its token price sinks

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Notcoin, the viral Telegram tap-to-earn platform, is changing its strategy as demand for its platform and token retreats.

Notcoin (NOT) token price has seen a significant decline since June, when it peaked at $0.030. It has dropped by over 57% from its all-time high, bringing its market cap from over $2.68 billion to $1.28 billion.

Notcoin moves to Web3 as tap-to-earn loses momentum

Notcoin’s decline mirrors the performance of other altcoins that have pulled back in recent weeks. EOS (EOS) token has dropped by almost 40% from its highest point in June, while Hedera Hashgraph (HBAR) has fallen by 35% in the same period.

This performance reflects the risks that other tap-to-earn platforms like Hamster Kombat and TapSwap may face when they launch their airdrops. Hyped projects often lose momentum and users after a while. For example, move-to-earn tokens like StepN’s (GMT) and Sweatcoin’s (SWEAT) have all dropped from their all-time high.

Popular gaming platforms like Decentraland and Axie Infinity, which were once very popular, have also struggled to regain growth, according to Dappradar. Their market caps have dropped from $8.5 billion in 2021 to $580 million and from $9.7 billion to $845 million, respectively.

Notcoin is now betting on Web3 and Non-Fungible Token (NFT) gaming to reinvigorate growth. The developers are working on a story-driven game in partnership with Lost Dogs and Getgems, a leading TON-based NFT marketplace.

Users will play the game and earn the NOT token and another new game-based token, which they can convert into fiat currencies. 

Notcoin will likely face three key challenges with this strategy. First, as other gaming networks like Axie Infinity and Gala Games have shown, maintaining high user engagement for an extended period is difficult, especially when the ecosystem’s token is not performing well.

Second, Notcoin may struggle to transition its active tap-to-earn players to the new story-driven game. Finally, there are signs that the NFT industry is struggling, as volume has continued falling. 

Notcoin price could bounce back

Notcoin price chart | Source: TradingView

Meanwhile, technical analysis indicates that the NOT price could bounce back in the near term. On the 4 hour chart, the token has formed a falling wedge chart pattern.

This wedge is nearing the confluence zone, which could trigger more upside. If this happens, the token could rebound to $0.0175, its highest point in July, which is about 37% above its Thursday levels.

Such a rebound would be triggered by the broader performance of the crypto industry, especially if Bitcoin rebounds above $70,000.

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Phân tích

Red alert for Hamster Kombat as Avacoin, Notcoin, Pixelverse tokens dive post-airdrop

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The performance of popular Telegram tap-to-earn tokens like Avacoin, Pixelverse, and Notcoin is sending a warning to Hamster Kombat. 

Hamster Kombat hits 300 million users

Due to its huge popularity, the Hamster Kombat token launch is one of the most anticipated events in the crypto industry, although the timeline for an airdrop is uncertain.

Data shows that the platform has accumulated over 300 million users globally and 50 million daily active users. Its YouTube channel has added over 35 million subscribers, while its other social media platforms have millions of users.

Hamster Kombat has surpassed other popular players in the blockchain industry, like Pi Network, which had over 50 million users at its peak. Many HMSTR holders look forward to the token listing, which will let them liquidate or HODL their tokens.

Notcoin, Avacoin, and Pixelverse have dropped

Current data shows that other popular tap-to-earn tokens are not doing well after listing.

Notcoin (NOT), which was listed in May, has dropped by 55.8% to $0.012. Its market cap has decreased from over $2.5 billion to $1.32 billion, even after recent measures to grow its ecosystem.

Similarly, the Pixelverse (PIXFI) token has dropped to $0.030, down by 70% from its highest point this month, sending its market cap tumbling to $160 million.

Notcoin vs Pixelverse | Source: TradingView

Avacoin (AVCN), the latest tap-to-earn token to list, has also not performed well. According to Bitget, the token opened at $0.002 on Tuesday and traded at $0.00091 during the day.

Avacoin, Notcoin, and Pixelverse are similar projects to Hamster Kombat in letting users earn tokens by doing simple tasks. In addition to regular tapping, users can gain more tokens by completing tasks like watching YouTube videos and following social media accounts.

Therefore, the price action of these coins is a warning shot to Hamster Kombat, suggesting that their price could also drop after their airdrops. According to its new white paper, Hamster Kombat users will receive 60% of the airdrop tokens, with the rest going to market liquidity, partnerships, and grants.

The developers hope to learn from other play-to-earn platforms like Decentraland (MANA), Sandbox (SAND), and Axie Infinity (AXS). These games have had little activity in the past few years, and their tokens have dropped. 

Hamster Kombat aims to solve this challenge by launching regular seasons where users can earn tokens. However, the risk remains that current HMSTR holders might dump tokens after the airdrop, pushing the price lower.

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DeFi

Curve founder: Defi more exciting than markets realize

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Talking with crypto.news, Curve founder Michael Egorov argued that defi’s ecosystem still holds the biggest value proposition over speculative trends like memecoins. 

During the 2021 peak, sometimes called crypto summer, decentralized finance took the driving seat. Defi tokens surged to all-time highs, and the narrative revolved around the so-called “future of finance” thesis. 

Fast forward to this year’s cycle, memecoins have claimed centerstage and accrued billions in market cap across several tokens. The hyper-speculative sector has turned users into overnight millionaires and the wealthy, sometimes to burned investors. 

The buzz has fueled talks that memecoins represent a major crypto use case as the preferred onboarding rail for retail money over defi. Egorov countered with a different take and said that defi deserves more attention than it’s getting.

“I strongly disagree that innovation is not happening in defi. It does! The market just does not recognize it enough. Take Pendle, which deals with interest rate markets, or Ethena, a stablecoin leveraging shorts and Ethereum staking – both are excellent examples of ongoing innovation,” Egorov told crypto.news.

RWAs on defi chains

Defi ecosystems, particularly Ethereum (ETH), have been touted as prime hubs for improving existing financial instruments, such as bonds, equity, stocks, and real estate. 

The concept, known as tokenizing real-world assets, has a $7.3 billion market. Experts predict the RWA crypto industry could hit $16 trillion by 2030 and $30 trillion by 2034.

Egorov said Ethereum and the larger web3 economy could potentially operate a full tokenized RWA ecosystem. However, according to Curve’s founder, regulatory and compliance requirements have kneecapped advancements so far.

Egorov remarked that the situation may improve greatly when RWA tokens aren’t just created on-chain and arbitraged with real markets.

“This would probably enable those RWAs to be used in more permissionless products, expanding their integration within the DeFi ecosystem,” Curve’s founder added.

Solving web2 loopholes and TON opportunity

In the exclusive interview with crypto.news, Egorov also said that decentralized technology solves web2 vulnerabilities and that the industry must pivot toward more on-chain solutions for hosting services.

The comments responded to compromised domains stemming from a Squarespace registrar issue. Protocols like Celer Network and Compound Finance were impacted, and nearly a dozen other platforms were also listed as possible targets. 

“The real dealbreaker would be native support of ENS and similar decentralized DNS services by major browsers. And yes, decentralized hosting would be a very nice addition. This would eliminate most of the web2 issues,” Egorov argued while speaking with crypto.news.

Shifting to Telegram and its growing status as a crypto powerhouse due to The Open Network, Egorov stated that TON has unlocked a new user set that’s just now experiencing defi application. Despite difficulty building dapps on TON, Curve’s founder said the blockchain presents an opportunity for native defi development and Ethereum Virtual Machine Support.

Egorov said that he thinks “DeFi apps have a very good chance of gaining traction in the TON ecosystem as soon as it can be fully launched (which, from what I hear, could be the case very soon).”

Tap-to-earn mini-games like Notcoin and Hamster Kombat have already attracted millions of daily users, active wallets, and airdrop hunters to TON’s ecosystem.

Egorov declined to answer questions on his infamous CRV loan and its eventual liquidation.

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Phân tích

Catizen token price rises in pre-market ahead of airdrop

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The Catizen token price rose in a low-volume environment after being listed in the pre-market section of Bitget.

The Catizen (CATI) price rose to a high of $0.77, significantly higher than the listing level of $0.30. Since launching, its total volume has stood at over $170,000. 

Catizen token price is rising

Bitget’s pre-market listing is an innovative product that lets users buy tokens before they are launched officially through an airdrop.

Catizen has become one of the biggest players in the Telegram gaming industry, with over 26 million active users worldwide. It has 1.7 million daily active users and has handled over 20 million on-chain transactions. 

It is a mini-app that combines concepts of gaming, artificial intelligence, and the metaverse. Users interact with it in Telegram, a fast-growing social media platform with over 900 million users globally. 

By leveraging Telegram’s application, Catizen is easier to use than traditional gaming platforms like Axie Infinity (AXS), Decentraland (MANA), and Gala Games (GALA). It also does not require downloading or long user registrations. 

Catizen’s users accumulate the CATI token by playing the game and performing simple tasks like following its social media accounts, checking in daily, and inviting friends.

The mini-app has grown so fast that, according to its founder, it has already made $16 million from in-app purchases. On its platform, users can purchase a set of stars to increase their chances of winning. Because of this growth, Catizen received an investment from Binance Labs. 

Telegram gaming apps are booming

Catizen is one of the many Telegram apps that are seeing significant traction among users. The other popular games in the ecosystem are Gamee, which has 9.5 million users, followed by Cat Gold Miner (6.3 million), The Pixels (5.2 million), BIRD (2.2 million), and Truecoin (1.6 million).

Telegram also houses over 70 tap-to-earn platforms, such as Hamster Kombat, TapSwap, Notcoin, PixelTap by PixelVerse, and Blum. In less than two months, Hamster Kombat has added over 240 million users, while its YouTube channel has gained over 34 million subscribers.

Notcoin (NOT) and PixelVerse are the first two platforms to launch their airdrops. Notcoin’s market cap is over $1.5 billion, while Pixelverse (PIXFI) is valued at $175 million.

Notcoin price chart | Source: TradingView

Therefore, using these metrics, and since Catizen has over 24 million users and is making money, there is a chance that it will hit a market cap of over $1 billion. Besides, play-to-earn cryptocurrencies like Decentraland, Sandbox, and Axie Infinity are valued at over $700 million despite their slowed user growth. 

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Altcoin

Oleksandr Usyk-backed Ready to Fight teams up with TON Foundation to offer crypto debit cards

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Co-founded by Ukrainian world heavyweight champion Oleksandr Usyk, Ready to Fight has joined forces with the TON Foundation to bring crypto-friendly debit cards to Telegram.

Ready to Fight, a web3 boxing app built on the Ethereum and BNB Chain (formerly Binance Smart Chain) blockchains, has teamed up with the TON Foundation and Kauri One, a blockchain developer, to offer a crypto-enabled debit card on the Telegram messenger in an effort to expand use cases for the RTF token.

According to a press release shared with crypto.news, the collaboration allows RTF holders to spend their tokens globally at merchants that support Mastercard using Apple Pay. Additionally, users can buy, hold, exchange, and sell nine other tokens, including Bitcoin (BTC), Tether (USDT), and Ethereum (ETH), within their in-app wallet, and convert them into RTF tokens.

Commenting on the partnership, Ready to Fight chief executive Sergey Lapin said blockchain opened “huge opportunities to support the growth of the sports industry, and this is particularly the case for boxing.”

“The huge demand for Ready to Fight demonstrates its potential, but we can only achieve mass adoption by ensuring ease-of-use and a wide range of use-cases,” Lapin said.

Launched in late 2023, Ready to Fight already boasts over 150,000 users, including 15,000 boxers, and has received support from boxing champions like Amir Khan, Mike Tyson, and Michael Buffer. The app is designed as an “intermediary” between athletes and the specialists and services that “help them develop and earn money,” according to the project’s tokenomics. The platform also uses its own native token RTF for “all financial transactions on the platform,” including donations, and payment for products and services.

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