NFT News Today Official TheBitTimes.com

The capital will be dedicated to supporting Web3 startups in Asia. Vietnamese Web3 coalition Ninety Eight, creator of the Coin98 decentralized finance (DeFi) ecosystem , has launched a $25 million ecosystem fund dedicated to accelerating Web3 startups in Asia. According to the Nov. 7 announcement, the fund will provide financial and strategic support for selected startups. In addition, startups can use the firm's existing Viction layer-1 blockchain infrastructure for low-gas fee transactions and enhanced security.  Another key aspect of the Ninety Eight Ecosystem Fund is its native token, $C98, designed initially as a wallet token. The $C98 token allows users to store, send, receive, and manage crypto assets, as well as connect to decentralized applications on over 40 blockchains. Its namesake DeFi platform provides users access to cross-chain swaps, staking, and yield farming. "To ensure the efficient deployment of the Ecosystem Fund, we have entrusted Arche Fund, a ventu...

Insomnia Labs has partnered with several companies to incorporate web3 elements into brand loyalty. New York-based technology firm Insomnia Labs on Oct. 18 announced a partnership with several web3 companies, including Co:Create, Smart Token Labs, Cookie3, and Crossmint, to launch a brand loyalty initiative dubbed Loyalty+. In a statement shared with crypto.news, Insomnia Labs described the new initiative as leveraging an array of web3 technologies, such as blockchain, non-fungible tokens (NFTs), and artificial intelligence, to transform traditional loyalty systems. The platform offers a unified online portal where customers can view and redeem points from various loyalty schemes. In addition, it provides personalized experiences through on-chain and off-chain data insights, ensuring unique user engagements. According to Insomnia’s statement, the Loyalty+ ecosystem will utilize a specialized API from Co:Create to integrate gamification elements. Moreover, Smart Token Labs will ens...

Could higher-quality gameplay and a completely free experience allow Web3 titles to attract more users? Play-to-earn games took the world by storm in 2021, and at their peak, some enthusiasts in South East Asia were able to supplement their incomes by getting involved. However, a crushing bear market and a series of hacks changed all that, and to make matters worse, the tokenomics within top-tier titles were unsustainable, meaning the rewards on offer had to be drastically reduced. Some gamers are also dismissive of the proliferation of nonfungible tokens (NFTs) and cryptocurrencies, arguing that they take the fun out of the experience by making everything about money. Ubisoft is just one of the big brands that has faced negative feedback from its customers. Even for players who are open to nonfungible tokens, getting involved can be an expensive endeavor. In-game assets aren’t always cheap, especially when gas fees are factored in. And there’s also the risk of a disappointing return...

Despite negative sentiment toward crypto adoption in the United States, Consensus 2023 attracted thousands of attendees to discuss the potential of blockchain technology and cryptocurrency. Consensus, the annual crypto and blockchain conference, attracted over 15,000 attendees, 220 sponsors and 410 speakers to its 2023 edition in Austin, Texas, despite recent regulatory struggles around cryptocurrency adoption in the United States.  The turnout at Consensus 2023 demonstrated that U.S.-based companies and international organizations are still very much interested in implementing Web3 Technology into their Business models. Caitlin Long, founder and CEO of Custodia Bank — a Wyoming-based digital asset bank — told Cointelegraph that the conference attracted serious ecosystem participants, saying, “We’ve seen during crypto winters before where Consensus gets overrun with high time preference people and companies (for example, multiple Lambo’s parked out front of the New York Hilton in 2018...

Gala Music, a Web3 startup subsidiary, is launching 3,003 NFTs on April 14, with an unreleased version of David Bowie’s “Let’s Dance” included. A previously un release d version of David Bowie’s “Let’s Dance” has surfaced as part of a limited edition collection of nonfungible tokens (NFTs). Gala Music, a subsidiary of the Web3 startup Gala Games, has joined forces with music producer Larry Dvoskin and publisher Warner Chappell Music to unveil an unreleased version of David Bowie’s 1983 track “Let’s Dance” as part of a limited edition collection of NFTs. The announcement was made on Thursday, March 6. David Bowie created an impressive discography that included 27 studio albums, 11 live albums, four soundtracks and 128 singles during his lifetime. However, despite his passing in 2016, the singer-songwriter still has at least one unheard track. Gala Music plans to launch 3,003 NFTs that showcase Bowie-inspired artwork on April 14, four decades after the original release of “Let’s Dance.“...