Crypto Guides, Knowledge & Insights

How MetaGods is aiming to disrupt play-to-earn gaming

Featuring multiplayer online action, MetaGods brings exploration and the slaying of mythical monsters into one tidy package for a gaming experience like no other.　　While it‘s still relatively early days in terms of realizing the project’s complete vision, with plans to introduce earning elements such as DeFi farming, it has the edge over standard P2E games.What is MetaGods？　　The MetaGods aesthetics follow a retro 8-bit theme reminiscent of 80s classics such as Ghosts and Goblins or Gauntlet.　　But whats decidedly modern about MetaGods is the NFT ownership experience. Each minted NFT character has randomly generated stats and equipment made up of weaponry and armor. Complete battles and loot dungeons to upgrade, with the goal to become a true god.　　As well as that, the game offers both player-versus-player and player-versus-environment modes, enabling users to choose between social and solo challenges.　　“The more you play, the more you earn! Level up and customize your character NFT to become a god of the metaverse.”　　The highest earners come from hardcore multiplayer raids in high APY dungeons. Youll often find upgraded weaponry or magic-resistant armor during such missions. Special items tend to be hidden during these raids as well.　　Casual gamers can stake in pools and earn $RELIC tokens passively.

2021-12-16Deep Dive

All you need to know to invest in DeFi

According to Footprint Analytics, DeFi has a TVL of $274.4 billion as of Nov. 23, 2021，while that was only $13 billion one year ago.　　The rapid development and growth of DeFi has cheered all those involved in the blockchain space, resulting in a large number of investment institutions. As of press date, the accumulated funding amount since 2021 totals $24.8 billion, compared to that in 2020 of $3.4 billion, a 626% increase.　　So what is this powerful beast known as DeFi？What is DeFi？　　DeFi is an acronym for Decentralized Finance, also known as Open Finance. With the rapid development of blockchain, its application scenarios are being enriched, among which finance is the most promising industry. It actually refers to the decentralized protocol used to build an open financial system, aiming to allow anyone in the world to participate regardless of time and place.CeFi vs DeFi　　In brief, DeFI is to duplicate traditional finance into the blockchain network. Different from traditional finance, it achieves decentralization through blockchain and uses smart contracts to replace the privileged institutions in traditional finance, where users can enjoy financial services at a lower cost and higher efficiency. As shown below, all kinds of services of open finance can be found

2021-12-16Deep Dive

This Bitcoin on-chain analyst says retail hasn’t “bought the dip this hard” since the Covid crash

While the Bitcoin price continues to stubbornly move sideways, market watchers are wondering how the year will end–is there time for another rally or will the support at $46.000 cave？　　Despite the tight trading range over the past two weeks, popular Bitcoin on-chain analyst Willy Woo pointed out indicators that are showing no signs of a bear market.Meaningful price bounce ahead？　　According to Woo, retail investors are taking advantage of the bearish price action–buying the dip more than usual.　　“The last time retail bought the dip this hard was at the bottom of the COVID crash,” wrote Woo on Twitter, while posting a retail accumulation chart.　　“Probably nothing,” he added, leaving it up to his 925.400 followers to decide for themselves whether the metric is signaling a bullish momentum could soon return.　　“True bear markets happen not from sellers but when we are out of buyers,” he concluded.No signs of a further sell-off cascade　　Earlier this week, Woo already pointed out that the on-chain investor demand is showing no signs of a bear market.　　“Long term holders have been selling down and taking profits, but as a cohort they continue to be in a region of peak accumulation,” wrote Woo in his last newsletter. 　　Long term holders

2021-12-16Deep Dive

U.S. Student Loan Repayments Restart in February, 44% of Borrowers Will Invest in Crypto

The final extension of the pause on student loan repayments in the U.S., interest, and collections ends on January 31, 2022. Officials had stalled student loan repayments in 2020 during the peak of COVID-19 lockdowns when the economy was at a near standstill. Government educational loan officials said the additional time and fixed end date empowered borrowers to plan for resuming payments, while reducing delinquency and defaults after the restart on February 1, 2022.　　Anyone with college debt would agree that student loans can be a major headache for borrowers. As the extended student loan hiatus comes to an end, CollegeFinance.com polled more than 1,000 student loan borrowers to analyze how theyre preparing to resume their payments. Surprisingly, the researchers found a few interesting connections between repayment plans, age groups, crypto, and NFTs. The highlights include:　　Nearly 45% of surveyed borrowers plan to invest in crypto or NFTs in preparation for payments to resume – Gen Zers were most likely to attempt this strategy　　Since the pause began, 18% of borrowers have been using the extra money theyve pocketed to invest in crypto or NFTs　　Nearly 1-in-10 plan to use crypto and/or NFT earnings to make their payments when the pause is up　　Overall, only

2021-12-16Deep Dive

The Future of Work in the Digital Metaverse

As 2022 rolls into view, one trend that seems set to stay the distance into the new year and beyond is the digital metaverse. The term itself was unknown to most people outside the tech, and perhaps more specifically, the blockchain and crypto scene, before October.　　However, since Facebook cemented its metaverse ambitions with a name change to Meta Platforms, its barely been out of the headlines. Most recently, sports apparel brands have been leaping onto the bandwagon. In mid-December, Nike announced it had acquired virtual footwear platform RTFKT as part of its own metaverse ambitions, while rival Adidas had already tweeted of a partnership with several high-profile NFT companies some weeks before.　　For existing operators in the metaverse space, this is proving to be great news. One industry insider compared the current land grab on virtual real estate to buying property in Manhattan in the 1800s, indicating just how much promise some believe still awaits. An ambitious blockchain-slash-VR project called NetVRk is aiming high – in a promotional video, the narrator speaks of future use cases involving its token economy and VR headset, including training simulations, education, architecture, product demonstrations, and more.　　A New Virtual World of Opportunity　　The internet created an entirely

2021-12-16Deep Dive

Tanzanian Central Bank Governor: Cryptocurrencies Not Outlawed, Traders Should Invest at Own Risk

The Tanzanian central bank governor recently revealed that cryptocurrencies are not outlawed in the country but warned those dabbling in crypto-related investments that they do so at their own risk.　　Central Bank Open to Ideas　　The governor of the Bank of Tanzania (BOT), Florens Luoga, recently stated that the central bank has not outlawed cryptocurrencies and that those putting money into crypto-related investments are doing so at their own risk.　　Also, in his remarks published by The Citizen, Luoga revealed that the BOT — which is now exploring the possibility of issuing a digital currency — is nonetheless open to any ideas on how it can regulate cryptocurrencies.　　“We can‘t outlaw something that we are not yet competent with or regulate a game that we don’t really know how it is played. We have not reached a position where we can costerise [sic] cryptos, but we welcome applications from interested parties. All should feel free to present their ideas for consideration,” Luoga is quoted explaining.　　By asking for the opinion of interested parties, Luoga appears to be reiterating an earlier promise to heed President Samia Suluhu Hasan‘s call on the country’s finance chiefs to prepare for crypto. As reported by Bitcoin.com News in July, after

2021-12-16Deep Dive

Fed Chair Powell Says Cryptos 'Risky' but Not Cause for Concern

Federal Reserve Chairman Jerome Powell said in a press conference on Wednesday (Dec. 15) that he doesnt think cryptocurrencies are a concern for financial stability, calling them “really speculative assets,” per a MarketWatch report.　　That statement comes as the Fed readies to speed up its tapering of bond purchases and is planning three hikes next year for the benchmark interest rates.　　However, Powell said cryptocurrencies didnt factor into any economic worries right now.　　“I don‘t see them [cryptocurrencies] as a financial stability concern at the moment,” Powell said. “I do think they are risky, they’re not backed by anything, and I think there‘s a big consumer issue for consumers who may or may not understand what they’re getting.”　　Powell also said stablecoins would likely have a role in the future, and mentioned the Presidents Working Group report, which said Congress should pass new laws to make it so stablecoins had to be issued by insured banks.　　He continued that stablecoins could be “useful” and efficient, if properly regulated. He also added that there was the potential for the coins to scale, especially if theyre affiliated with a large tech network.　　The Fed has been looking into the potential of issuing a U.S. digital currency, although federal

2021-12-16Deep Dive

Elizabeth Warren: DeFi Is 'One of the Shadiest Parts' of Crypto

Massachusetts Democrat Senator Elizabeth Warren has again stepped into the limelight for her comments about the fast-growing sector of decentralized finance (DeFi) and the role of stablecoins in this niche.　　Speaking at a Senate Committee on Banking, Housing, and Urban Affairs hearing on Tuesday, Warren described stablecoins as “the lifeblood of the DeFi ecosystem,” where they are used to trade between different coins, as well as to lend and borrow money outside the regulated banking system.　　Stablecoins are cryptocurrencies that claim to be pegged 1:1 to fiat currencies like the U.S. dollar, meaning that, unlike Bitcoin or many other cryptocurrencies in the market, their prices are supposed to remain steady.　　Warren also stated that stablecoins pose risks to consumers and the economy because they are “propping up one of the shadiest parts of the crypto world, DeFi, where consumers are least protected from getting scammed.”　　According to Warren, DeFi “is where the regulation is effectively absent and—no surprise—its where the scammers and the cheats and the swindlers mix among part-time investors and first-time crypto traders.”　　“Our regulators need to get serious about clamping down before it is too late,” she said.　　At the same hearing, Warrens fellow party member, Senator Sherrod Brown labeled stablecoins as “magic

2021-12-16Deep Dive

Looking for a Country with Clearest Crypto Tax Policies? Check This List

The European microstate of Liechtenstein came in as the country with the clearest crypto tax policies for 2021, while Germany, coming in as number four, saw one of the best improvements since last year, a new report from consulting giant PwC has found.　　Following Liechtenstein, Australia and Malta ranked as having the second and third clearest crypto tax policies. The United States came in as number 14, after scoring slightly higher this year compared to last years report.　　Other popular jurisdictions for companies working in the crypto space, such as Singapore and Hong Kong, came in fifth and seventh, respectively, the ranking showed.　　The report, titled PwC Annual Global Crypto Tax Report 2021, ranked countries according to 19 assessment criteria to determine how clear and comprehensive their tax guidance for digital assets is.　　The report noted that most of the top-ranked countries from last year also did well in this years report, with Malta, Australia, Switzerland, and Singapore all increasing their scores compared to last year.　　It added that Germany rose significantly in this years report because of a draft decree released in July 2021 on the tax treatment of digital assets. Germany jumped from being ranked as the 20th best country for crypto tax

2021-12-16Deep Dive

African continent the Fastest Global adopters of Crypto Currency.

There is presently an obsession with Crypto currencies across the African continent. The later continent has emerged the fastest adopters of Crypto Currency across the different continent. Many believe that this is due to lack of meaningful jobs for the citizens while others consider it as promoting money laundering and supporting terrorist activities. Nigeria had remained the greatest users in Africa despite the Central Bank severe attitude towards Crypto currency dealers.　　.　　Despite the fact that Crypto currencies has not been fully legalized globally, the African continent has emerged the greatest adopters and dealers in Crypto Currencies. According to the Africa report: Cryptocurrency adoption in Africa grew 1200% between July 2020 and June 2021, making it the fastest adoption rate in the world. Yet the continent is still said to be below other continent especially the Western world in terms of overall values traded. Probably this could be attributed to the lack of values of the African local Currencies when converted to Bitcoin or other Western fiat Currencies including USDT, Euro and Pounds.　　Across the African continent, countries like Nigeria, Kenya, South Africa, Ghana, and Tanzania had some of the highest grass-roots adoptions in the world and ranked in the top 20 Global

2021-12-15Deep Dive

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