Business

A NFT game strives to unite utility with assets.

NFT games are far different than owning a (NFT) from CryptoPunks or EtherRocks in your wallet. Instead, NFT games add a new layer of complexity requiring some knowledge of the game’s rules, mechanics and player interactions.

Published

3 years ago

September 27, 2021

Crypto News Team

Within each game, NFTs might be an object like a weapon or portion, or they might be the avatar you can use. The difference between NFTs and in-game assets in a traditional game comes down to your ability to exchange or trade these items with other players for a profit.

Swapping, creating and using NFTs in a game needs smart contracts to hold the rules for the digital asset. Each smart contract covers a self-executing piece of code that is stored on the blockchain. Gamers will likely come across multiple ways to earn, one of the main being in-game NFTs. In this scenario, rather than earning fungible tokens, gamers can earn NFTs that represent collectible items that can vary in worth depending on their rarity or usefulness in the game.

While the first NFT games released primarily offered in-game digital collectibles, newer games will use a combination of this and a play-to-earn structure, which provide gamers with an opportunity to earn a more steady income. With each game being set up differently, many non gamers or those new to the gaming world may find it to be a challenge to get started. To address both groups comes the release of a game known as Hewer Clan.

Hewer is a new NFT project built to “reach and welcome newcomers to the NFT space, as well as experienced NFT people,” according to their team. They continue by sharing, “at Hewer Clan, we want to unite utility with an asset that will keep appreciating, alongside a cool-looking art piece that you’ll be pleased to hold and have fun with the features each Hewer Tag unlocks for its holders.”

Up Next

Ethereums second-largest mining pool to suspend all operations

Don't Miss

Crypto currencies to watch: BTC, AVAX & ALGO

Click to comment

Business

Vitalik Buterin criticizes crypto’s moral shift toward gambling

Published

2 days ago

February 20, 2025

Crypto News Team

Ethereum co-founder Vitalik Buterin has expressed concerns over a “moral reversal” in the crypto industry, particularly regarding criticism of Ethereum’s stance on blockchain gambling. In a recent AMA, he noted that some have condemned Ethereum for not welcoming casinos, while other blockchains have embraced them. Buterin stated that if the community continues to shift its values in this direction, he may reconsider his role in the space.

Despite these concerns, Buterin emphasized that in-person interactions with the Ethereum community reassure him that core values remain intact. He urged developers to work toward a decentralized future aligned with ethical principles rather than just profit-driven ventures.

His comments coincide with the Ethereum Foundation’s shift in its funding approach. Following criticism of its Ether sales, the foundation recently allocated 45,000 ETH into DeFi platforms like Aave and Compound. This move was widely praised as a step toward supporting decentralized finance without market disruptions.

As Ethereum navigates these challenges, Buterin’s remarks highlight the ongoing debate about blockchain ethics and the industry’s future direction. The conversation around gambling applications and decentralized finance underscores the tension between financial innovation and maintaining a moral compass in crypto.

Business

UAE saw 41% increase in crypto app downloads in 2024

Published

2 days ago

February 20, 2025

Crypto News Team

Crypto app downloads in the UAE surged by 41% in 2024, reaching 15 million, with a record 2.8 million installs in December, according to AppsFlyer. This increase was largely driven by market trends and rising adoption, especially in the latter half of the year.

Donald Trump’s election win and pro-crypto stance reportedly played a role in boosting adoption, with his surprise memecoin launch further attracting first-time investors. This trend also contributed to a rise in crypto app downloads in the U.S.

Aggressive marketing campaigns accounted for 60% of traffic, though retention remained a challenge, as one in five apps was uninstalled within 30 days. Despite this, crypto app downloads in the UAE hit 3.5 million in January, surpassing half of 2023’s total.

With 2025 projected to be a record-breaking year, market experts suggest crypto companies should continue leveraging marketing strategies to expand their user base. The UAE’s rapid growth in crypto adoption highlights the region’s increasing role in the digital asset industry.

Business

Brazil approves first spot XRP ETF as local bank eyes stablecoin on XRPL

Published

2 days ago

February 20, 2025

Crypto News Team

Brazil has approved its first spot XRP exchange-traded fund (ETF), the Hashdex Nasdaq XRP Index Fund, which will soon begin trading on the country’s B3 exchange. The fund, managed by Hashdex, joins a growing list of crypto investment products in Brazil, including Bitcoin and Ethereum ETFs. The approval comes as the U.S. Securities and Exchange Commission (SEC) reviews multiple spot XRP ETF filings from major firms like CoinShares and WisdomTree.

In response to this development, XRP saw an 8% price increase, reaching $2.72, bringing it within 20% of its all-time high. This surge reflects growing investor confidence in XRP-based financial products. Meanwhile, market analysts expect the approval of additional crypto ETFs worldwide as regulators reassess their stance on digital assets.

Simultaneously, Braza Group, a financial institution in Brazil’s interbank market, announced plans to launch BBRL, a stablecoin pegged to the Brazilian real. Built on the XRP Ledger, BBRL aims to enhance international payments and digital asset accessibility in South America. Initially, the stablecoin will be available only to institutional clients, with broader adoption expected in 2025.

Braza Group’s participation in Brazil’s central bank blockchain initiative, DREX, underscores the country’s efforts to integrate digital assets into its financial system. With crypto adoption surging, Brazil’s latest moves in stablecoin and ETF approvals signal growing institutional confidence in blockchain-based finance. Read more.