Inside Crypto Dimension - Monday 22nd of August 2022
CryptoPunks vs Bored Apes 🦍 | Visiting a toilet pays you cryptos 🚽 | Cardano and arguments over upgrades 🗨️ | Why NFTs don't work in gaming? 🎮 | What are PFPs? 🪪
A new week in the Crypto Dimension!
A new week in the world of cryptos is upon us! The weekend saw some dropping of crypto prices with Bitcoin falling down to 21 000 USD.
Monday in Europe starts a little bit on the greener side, with BTC being little under 21 500 USD and Ethereum at 1600 USD.
Not much more to mention on the prices. So, let’s dive into the news. Keep on scrolling!
News and events from the weekend in the World of Cryptos
CryptoPunk Ethereum NFTs Floor Price Flips Bored Apes for First Time in 5 Months
The CryptoPunks NFTs took over Bored Ape Yacht Club on the floor price charts. Bored Apes have been very popular as even celebrities have strived to get one for themselves. The real news behind this topic is actually the fact that all NFT prices have dropped significantly and are also suffering from the crypto bear markets.
South Korean professor invents toilet that turns waste into energy and pays out crypto
For a long time the crypto believers have said that cryptocurrencies and blockchain will change the world for better. Now you can earn money by turning your poo into energy. The human feces will be turned into biogas and fertilizer. Donating for the energy pool pays you back in Ggool cryptos. On campus, students can use the currency in coffee shops, noodle restaurants, and bookstores. Now this is a innovative use of blockchain!
Cardano Testnet “Catastrophically” Broken? Hoskinson Replies
The turn of the weekend saw a bunch of arguments on Twitter about Cardano (ADA) upgrade. A big “Vasil” upgrade is supposed to happen soon and the latest update did not work out as was expected. Charles Hoskinson, the founder of Cardano asked stake pool operators to upgrade to new version of their client software. Not all stake pool operators agreed as there had been reports of bugs in the test network. This all lead into heated discussions and arguments about the decentralization of whole Cardano network. Cardano has seen low prices for a long time, even though it has an active community. A deep learning algorithm even predicted for price increase to 2 USD per coin by the end of August.
History Tells Us Why NFTs Won’t Work in Gaming
Zachariah Kelly discusses in this article how the NFTs will not work in gaming and what kind of problems are involved in the whole idea of crypto gaming. The article compares NFTs to loot boxes and the lack of utility of NFTs. According to the writer, the NFT-based games are design trade-first instead of play-first. What do you think? Are the crypto games only cash cows instead of real good gaming experiences?
Untamed Isles - A Kickstarter Crypto Game Goes Bust, Can't Refund Backers
Crypto projects and Kickstarter - a match that surely can turn out for the worst. In 2021, at the height of the world’s collective blockchain madness, a video game called Untamed Isles—Pokemon, but with crypto stuff—made over $500,000 on Kickstarter. Sadly, the game won’t be coming out and backers won’t get refunds. One big reason for this crash seems to be the crypto winter and the fall of crypto prices. The cash reserves are gone and that’s it. Sadly, this is not the only Kickstarter project to fail, nor probably the last. Remember, funding new projects is always a risk. And with cryptos, that’s quite likely an even bigger risk.
You know NFT, but what are PFPs, the 2D Avatars that are gaining popularity?
PFP stands for Profile Picture, a NFT that is being used for social media (especially Twitter) profile pictures. Some of these PFPs have utility value but some are just what the name states - a profile picture. This Decrypt article gives a simple look at the PFPs and their popularity. Do you already own a NFT profile picture?