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One of the largest cryptocurrency exchanges to hold a multi-week event on blockchain where the community celebrates art, music, gaming and more. Presented by Coinbase, the Onchain Summer festival will bring the community together for three weeks in August to build, socialize, play and celebrate innovation. The inclusive nature and global reach of cryptocurrencies and blockchain technology have given rise to a diverse community of individuals from various nationalities, cultures, backgrounds and socioeconomic statuses. The influence of crypto and blockchain expands beyond financial technologies, and the community reflects that by spanning across different sectors, including health care, gaming, retail, social and political domains. For this vast network of enthusiasts, estimated to surpass 420 million people worldwide in 2023, touching base and socializing about common interests is crucial. This is why the crypto and blockchain ecosystem is never short of conferences, festivals and sum...

Professional Dota 2 player Erik “Tofu” Engel believes that Web3 has very beneficial features for gamers. While game developers seem to hate the idea of Web3 coming into games, players who compete in gaming tournaments for a living are more open to trying out blockchain gaming . Professional Dota 2 player Erik Engel for Gaimin Gladiators, more commonly known by his gamer tag “Tofu,” expressed his thoughts on Web3 and how it can help gamers in a statement sent to Cointelegraph. Engel, who has won over $400,000from various major tournaments in the Dota 2 competitive gaming scene, said it’s refreshing to see companies make “more out of games than just games.” He explained: “The idea of blockchain gaming is still a new and expanding topic for most of us, and it’s something I want to explore more in the future. If it’ll improve gaming and make it even more rewarding, then that’s definitely something to look out for in times ahead.” In addition, Engel believes that Web3 has Features that...

Spielworks CEO Adrian Krion said that the NFTs will also provide mining power and material drops to players of their Dungeon Worlds game. Blockchain gaming startup Spielworks has partnered with the Web3 platform Mycelium Network to launch a program that allows full refund s for nonfungible token (NFT) purchases.  In an announcement sent to Cointelegraph, the team explained that within the program , users who acquire NFTs called "Reverties" are eligible to get a full USD Coin (USDC) refund . The project also allows users to stake this new series of NFTs in Spielworks’s game called Dungeon Master and purchase them using USDC via a separate minting mechanism. Through the partnership, Spielworks will leverage Mycelium Network to support USDC purchases. Within the minting transaction, the USDC will be transferred to a decentralized finance (DeFi) lending pool at the Aave protocol. The team said that the interest earned in the lending pool will be used to buy back Spielwork...

Up-and-coming NFT racing game sold out all its collectibles and launched a demo version while integrating various other NFT IPs. Bridging the gap between the NFT and blockchain gaming spaces has been a persistent challenge for crypto enthusiasts and developers alike. Major NFT collections try to integrate utility and bring benefits to their holders. However, building a full-fledged game often lies outside of the budget capabilities for such projects. On the other hand, collectibles from gaming projects rarely reach the popularity and valuation that blue chip NFTs have. So the question remains: How can NFT collectors use their digital assets in other Web3 projects, specifically, active gaming platforms? One project has found the solution and is already attracting a solid user base. NFT collections get into the race PetaRush is an ambitious racing game project that uses NFTs to represent the playable characters on the platform. The project has already successfully sold out both its whit...

The crypto trading firm sees NFTs becoming more intertwined with brand IP, while Web3 apps with "real world utility" gain traction. Despite an eventful year fraught with crypto collapses and price drops, Steven Goulden, a senior research analyst at crypto trading firm Cumberland has pointed to several “green shoots” to break the surface in crypto in 2023. In a 14-page “Year in Review” report released on Dec. 24, Goulden said he saw four “ emerging narratives ” in 2023 that will lead to “significant progress” for crypto over the next six to 24 months. These include non-fungible tokens (NFTs) becoming a “go-to method” of tokenizing a brand's intellectual property (IP), Web3 apps and games becoming “genuinely popular,” while Bitcoin (BTC) and Ether (ETH) could become more commonly used as a nation’s reserve asset. In 2023, we anticipate that we’ll see meaningful green shoots break the surface in several key areas, which will pave the way for significant progress in the...