<ul><li><keyword id="12319001" type="UNKNOWN" weightage="60" keywordseo="nucypher" source="Orion">NuCypher</keyword> soared as much as 1,134% on Friday as the <keyword id="11961768" type="UNKNOWN" weightage="60" keywordseo="altcoin" source="Orion">altcoin</keyword> touched a $2 billion market cap.</li><li>The decentralized threshold cryptography network celebrated its one-year anniversary on Friday.</li><li>The surge made NuCypher the 79th largest cryptocurrency, according to CoinMarketCap.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm_medium=ingest?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>NuCypher, a little-known altcoin that bills itself as a decentralized threshold cryptography network, soared as much as 1,134% on Friday.The surge catapulted NuCypher's market valuation to more than $2 billion from about $200 million as one-day volume exploded 18,266% higher, according to <a href="https://coinmarketcap.com/currencies/nucypher/">data from CoinMarketCap.</a> The altcoin hit a high of $3.58 before paring its gains by about 50% to $1.80.While NuCypher celebrated its one-year anniversary on Friday, there was no clear indication as to what developments drove such a sharp surge in demand for the altcoin, which is now the 79th largest cryptocurrency by market value."One year ago today the NuCypher network launched. Since then, thousands of stakes and dozens of dapp developers have discovered threshold cryptography," NuCypher's Twitter profile <a href="https://twitter.com/NuCypher/status/1448996437916672010">said Friday morning.</a>The surge in NuCypher came as bitcoin continued its October rally <a href="https://markets.businessinsider.com/news/currencies/bitcoin-price-60000-futures-etf-sec-approval-trading-october-regulation-2021-10">and hit $60,000</a> amid ongoing speculation that the <a href="https://markets.businessinsider.com/news/currencies/bitcoin-futures-premium-doubles-sec-etf-potential-approval-decision-2021-10">SEC may be close to approving the first bitcoin futures ETF.</a>NuCypher has 687.5 million coins in circulation and a max supply of 3.9 billion coins. NuCypher, which is built on the ethereum network, serves as an encryption service for public blockchains and offers end-to-end encrypted data sharing on public blockchains and decentralized storage solutions.NuCypher's white paper was first published in 2017, and the altcoin began <keyword id="6368158" type="UNKNOWN" weightage="60" keywordseo="trading" source="Orion">trading</keyword> on October 15, 2020, at a price of $0.23 and a market valuation of $2.4 million. <div type="image" title="NuCypher chart price" height="492" width="950" msid="87043430" hostid="261"></div>

NuCypher soars 1,134% in a single day as the altcoin touches $2 billion market valuation

<ul><li>The round was led by Sequoia Capital India, followed by the likes of SoftBank Vision Fund 2.</li><li><keyword id="2462624" type="General" weightage="20" keywordseo="polygon" source="Orion">Polygon</keyword> was founded by Sandeep Nailwal, Jaynti Kanani and Anurag Arjun in 2017.</li><li>The funds will be raised through a private sale of Polygon’s native MATIC token.</li></ul>Homegrown blockchain technology firm Polygon has raised $450 million from more than 40 venture capital firms. The round was led by Sequoia Capital India, followed by the likes of SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital and others. Brevan Howard’s Alan Howard and Canadian businessman Kevin O’Leary, popularly known as Mr Wonderful on ABC’s Shark Tank, also participated in the round. <div type="ExtQuote" text="“Thousands of developers across a range of applications are choosing Polygon and their complete set of scaling solutions for the Ethereum ecosystem.”" auname="Statement by Shailesh Lakhani, managing director at Sequoia Capital India"></div> The funds will be raised through a private sale of Polygon’s native MATIC token. The cryptocurrency did dip during the January doldrums, but its price is back up at ₹151 as of February 8 at 11:00 a.m., Indian Standard Time (IST). Polygon is among the top 20 biggest cryptocurrencies in the world with a market value of ₹1.1 lakh crore. <cmsannotation type="cmsannotation" annotationid="What is Polygon?" comment="subhead" text="What is Polygon?">What is Polygon?</cmsannotation> Polygon, originally known as the Matic Network, launched back in 2017 with Sandep Nailwal, Anurag Arjun and Jaynti Kanani as its founders. The platform is built around the Ethereum blockchain, which can be used for developing other decentralised apps (DApps) like decentralised finance (DeFi) and non-fungible tokens (NFTs) and decentralised autonomous organisations (DAOs). Simply put, Polygon is designed to solve scalability and usability issues that exist in the Ethereum blockchain, without compromising an app’s core decentralised aspect. <div type="ExtQuote" text="“Ethereum, scaled by Polygon, will be the bedrock of this next stage in the Web’s evolution. Technological disruption didn’t start with Web2, nor is it going to end there.”" auname="Statement by Sandeep Nailwal, co-founder and chief executive of Polygon"></div> Decentraland, one of the biggest metaverse projects in the world right now, added Polygon to its platform in 2021 to solve the issues that users were facing with Ethereum. OVR, an augmented reality (AR) metaverse based on Ethereum, also moved over to Polygon recently due to Ethereum’s inherent issues. Overall, the Polygon network has more than 130 million unique addresses and over 2.67 million monthly active users who are generating some 3 million transactions per day. The company had raised a “<a href="https://economictimes.indiatimes.com/tech/startups/polygon-crypto-gets-funding-from-billionaire-investor-mark-cuban/articleshow/82965262.cms?from=mdr">sizable investment</a>” from US-based billionaire entrepreneur Mark Cuban last May. Just last month, Polygon onboarded YouTube’s head of gaming, Ryan Wyatt, to lead Polygon Studios — the part of its business that works on bringing game and other media entities onto the network. SEE ALSO: <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/adani-wilmar-tvs-motor-bharti-airtel-irctc-and-other-hot-stocks-on-february-8/slidelist/89418927.cms">Adani Wilmar, TVS Motor, Bharti Airtel, IRCTC and other hot stocks on February 8</a> <a href="https://www.businessinsider.in/business/startups/news/interview-indias-latest-software-unicorn-is-wetting-its-feet-in-america-after-holding-its-horses-for-seven-years/articleshow/89409491.cms">INTERVIEW: India’s latest software unicorn is wetting its feet in America after holding its horses for seven years</a> <a href="https://www.businessinsider.in/business/startups/news/future-groups-kishore-biyani-mohandas-pai-and-68-others-invest-in-former-twitter-india-heads-latest-startup/articleshow/89403045.cms">Future Group’s Kishore Biyani, Mohandas Pai and 68 others invest in former Twitter India head’s latest startup</a>

Mark Cuban-backed Polygon raises nearly half a billion dollars from 40 VCs led by Sequoia

<ul><li><keyword id="2462624" type="General" weightage="100" keywordseo="polygon" source="Orion">Polygon</keyword> launches a new solution for web 3.0 that could help users pass identity verification without revealing personal information </li><li>Polygon ID is a digital privacy-focussed identity platform in development, based on zero-knowledge proof. </li><li>It is expected to simplify authentication on upcoming blockchain-based Web3 platforms. The complete<a href="https://polygon.technology/polygon-id/"> </a>platform is expected to be ready in the third quarter of 2022.</li></ul>It is expected to simplify authentication on upcoming blockchain-based Web3 platforms. The complete<a href="https://polygon.technology/polygon-id/"> </a>platform is expected to be ready in the third quarter of 2022. The Polygon network, a decentralized app (Dapp) layer for Ethereum, has announced that its “zero-knowledge” (ZK) digital identity platform<a href="https://blog.polygon.technology/introducing-polygon-id-zero-knowledge-own-your-identity-for-web3/"> called Polygon ID</a> will be ready before this year ends. Polygon is working on the new ZK-proof identity solution, which will help users guard their privacy on blockchain-based Web3 platforms. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> Polygon ID is expected to be used by organisations and businesses, for identity and trust management purposes, such as <keyword id="167905" type="General" weightage="50" keywordseo="kyc" source="Orion">KYC</keyword> (Know Your Customer) and digital wallet. At its essence, users can authenticate themselves to blockchain-based applications, without providing passwords or data to every such application individually. <div type="twitter" handle="MihailoBjelic" handlename="Mihailo Bjelic" image="http://pbs.twimg.com/profile_images/981717975077146624/Eo7SZLC6_normal.jpg" favoritecount="639" retweetcount="126" status="This is a big one: We are announcing Polygon ID, the first ZK-based self-sovereign identity.Polygon aims to becom… https://t.co/y9YVhLCPtp" createdat="1648578779000" id="1508874878744674309"></div> What could a Polygon ID based Web3 look like? The term “zero-knowledge proof” refers to the cryptographic proof on a blockchain, that allows for verifying a person’s identity, without needing any documents or details. Such a facility could save time for users and satisfy government-mandated KYC verification norms. Conceptually, this could be the blockchain-enabled<a href="https://en.wikipedia.org/wiki/OpenID"> OpenID equivalent</a> to the upcoming <a href="https://www.businessinsider.in/investment/news/facebook-microsoft-and-others-look-towards-the-1-trillion-dollar-metaverse-opportunity-but-that-contradicts-the-base-philosophy-behind-web-3-0/articleshow/87959802.cms">Web3</a>. <keyword id="2223395" type="General" weightage="50" keywordseo="openid" source="Orion">OpenID</keyword> on today’s Web2 functions as a way to login to a new website/service without specifically signing up for it, by using an existing Microsoft/Google account. Today’s OpenID shares some data about the user, such as name, email, age-range, etc. The upcoming Polygon ID however, claims to offer more privacy, when authenticating a user on a third-party service. According to<a href="https://blog.polygon.technology/introducing-polygon-id-zero-knowledge-own-your-identity-for-web3/"> their blog</a>, Polygon ID could be one way to verify user claims when logging into Web3 services; such as identity, date of birth, <keyword id="786882" type="General" weightage="50" keywordseo="dao" source="Orion">DAO</keyword> membership, available services, and more. Today you need to individually create a login and upload KYC documents to each crypto service – an exchange, a game, an <a href="https://www.businessinsider.in/investment/news/the-most-valuable-nft-projects-of-2021/slidelist/88592907.cms">NFT marketplace</a>, a DeFi facility, an auctioner or meeting service in a <a href="https://www.businessinsider.in/investment/news/the-metaverse-may-change-the-way-you-earn-money-shop-or-even-chill-with-friends-in-the-future/slidelist/86677906.cms">metaverse</a>, and so on. Polygon ID broadly asks you to imagine a single login service that lets you login to your <a href="https://www.businessinsider.in/investment/news/choosing-the-best-cryptocurrency-exchange-your-options-and-how-to-pick-between-them/articleshow/87539690.cms">crypto exchange</a>, verify your age on <a href="https://www.businessinsider.in/investment/news/facebook-microsoft-and-others-look-towards-the-1-trillion-dollar-metaverse-opportunity-but-that-contradicts-the-base-philosophy-behind-web-3-0/articleshow/87959802.cms">Web3</a> social media, prove ownership of an <keyword id="4668945" type="General" weightage="50" keywordseo="nft" source="Orion">NFT</keyword>, establish credit-worthiness for DeFi borrowing, and easily enter a corporate all-hands meeting. <div type="image" title="Representative image" msid="90544319" hostid="261" caption="&amp;lt;p&amp;gt;Representative image&amp;lt;/p&amp;gt;"></div> Polygon ID claims some crypto-age benefits <ul><li>Private by default, meaning users choose when and what data is shared.</li><li>Zero-knowledge protocols based on<a href="https://docs.iden3.io/"> Iden3</a>, for additional user privacy.</li><li>On-chain verification, enabling scalability as usage grows to more decentralised apps and decentralised finance.</li><li>Blockchain-based ID, enabling decentralised and “self-sovereign” principles, that put users in control of their personal data.</li><li>Advanced privacy and app-access with appropriate anonymity.</li><li>User interaction with services, without depending on an intermediary.</li><li>User validation and attestation services, for DAO/DeFi/Web3 purposes. </li></ul>According to the company’s stated timeline on their blog, today’s announcement is about the proof-of-concept (PoC) being ready. The complete<a href="https://polygon.technology/polygon-id/"> Polygon ID</a> platform is scheduled to be ready in the third quarter of 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/axie-infinitys-ronin-bridge-halted-after-a-massive-600-million-hack/articleshow/90539665.cms">Axie Infinity’s Ronin bridge halted after a massive $600 million hack</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/ex-paytm-employees-join-crypto-focused-transak-as-it-doubles-down-on-its-india-expansion-plans/articleshow/90542349.cms">Ex-Paytm employees join crypto-focused Transak as it doubles down on its India expansion plans</a>

Polygon launches web3 user IDs that keep personal details anonymous

<ul><li><keyword id="12415631" type="General" weightage="20" keywordseo="biconomy" source="Orion">Biconomy</keyword> was founded in 2018 and was the first Indian crypto company to list a <keyword id="6937186" type="General" weightage="100" keywordseo="token" source="Orion">token</keyword> on Coinlist.</li><li>In the <keyword id="12465420" type="General" weightage="20" keywordseo="web3" source="Orion">web3</keyword> world, Biconomy basically wants to become the payment gateway for crypto transactions.</li><li>The <keyword id="12415632" type="General" weightage="50" keywordseo="bico" source="Orion">BICO</keyword> token is the network’s native governance token.</li></ul>Amongst the handful of <keyword id="13178808" type="General" weightage="20" keywordseo="web3-companies" source="Orion">web3 companies</keyword> from India making waves in the web3 space is Biconomy. The company provides a non-custodial and gas efficient scalable relayer infrastructure that aims to simplify transaction processes for <a href="https://www.businessinsider.in/cryptocurrency/news/polkadot-filecoin-bittorrent-and-other-exciting-web3-crypto-tokens-to-watch-out-for-in-2022/articleshow/89076820.cms">web3</a> firms. The company also has the BICO token, which is listed on many large exchanges, including <keyword id="6672551" type="General" weightage="20" keywordseo="wazirx" source="Orion">WazirX</keyword> right now. Among its many plaudits, Biconomy was also the first Indian web3 firm to list a token on <a href="https://coinlist.co/?__cf_chl_tk=7rHmhqQFjfIW43tdhYmad5vxAqxhgObU.AkkS03.l8M-1644828051-0-gaNycGzNByU">Coinlist</a>, which in itself is a sign that the platform is not in the web3 space to take advantage of the crypto craze. Coinlist is an initial coin offering platform, and has a diligence process that keeps just any web3 firm from listing a token on its lists. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> <cmsannotation type="cmsannotation" annotationid="What is Biconomy?" comment="subhead" text="What is Biconomy?">What is Biconomy?</cmsannotation> In simple terms, Biconomy wants to become the Stripe of the web3 world. The company was founded by Aniket Jindal who studied from Fudan University in Shanghai and worked at Binance in 2017. He moved back to India in 2018 and decided to launch Biconomy with co-founders Ahmed Al-Balaghi and Sachin Tomar in an effort to make the adoption of decentralised apps easier. While Balaghi was an advisor and seed investor at Matic Network, which is now called Polygon, Tomar was a software engineer at Samsung Electronics before coming to Biconomy. “We are solving for the makers and players of web3. Our mission is to simplify the future of transactions, ensuring that decentralisation is truly accessible to all,” the company says on its website. The company <a href="https://www.business-standard.com/article/companies/biconomy-raises-9mn-in-pvt-funding-round-led-by-dacm-mechanism-capital-121072900343_1.html">raised</a> $9 million in a private funding round led by DACM and Mechanism Capital in July last year. It also has strategic investments from Coinbase, Bain Capital, Coinfund, NFX True Ventures, Proof Group, Ledgerprime and more. <keyword id="4164994" type="General" weightage="20" keywordseo="defi" source="Orion">DeFi</keyword> firm <a href="https://www.businessinsider.in/investment/news/defi-aaves-web3-social-media-network-live-on-polygon-will-take-on-facebook-and-twitter/articleshow/89429671.cms">Aave’s</a> founder Stani Kulechov has also backed the company. So far, the company has partnered with 100+ dApps including DeFi platform Curve Finance, trading platform Perpetual Protocol, gaming platform Decentral Games, social blogging platform Sapien Network and more. At the time of writing, the BICO was trading at around ₹148 on <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=article-advertorial">WazirX</a>. <cmsannotation type="cmsannotation" annotationid="BICO Token is the network’s native governance token" comment="subhead" text="BICO Token is the network’s native governance token">BICO Token is the network’s native governance token</cmsannotation> The BICO token is the primary driver of the Biconomy platform. The token has a market cap of over $189 million as of February, according to <a href="https://coinmarketcap.com/currencies/biconomy/">Coinmarketcap</a>, and a circulating supply of over 106 million tokens. Its total supply is one billion. The BICO token is the native governance token of the Biconomy network, and it has two main objectives — providing network fees and incentives to stakeholders. This means that node operators on Biconomy pay the network fees, while they are also paid in BICO for the work they put in for validating transactions on the network. Node operators have to stake BICO tokens in order to join the Biconomy network, and the token also helps in other aspects of running the network. Perhaps most importantly though, the token also acts as a mechanism that allows others a say in the network. Being a governance token, BICO token holders can propose and vote on decisions that affect the network’s progress in the long run. Any token holder is allowed to propose changes to the network, and such changes can only be passed once there’s a <a href="https://www.businessinsider.com/personal-finance/proof-of-stake-vs-proof-of-work?IR=T">consensus</a> amongst the majority of the holders. <cmsannotation type="cmsannotation" annotationid="What role does Biconomy play in web3?" comment="subhead" text="What role does Biconomy play in web3?">What role does Biconomy play in web3?</cmsannotation> The Biconomy network is basically meant to allow gasless transactions, which essentially means that it will bring down costs for DeFi platforms which are facilitating transactions in the web3 world. The company has three main products — Mexa, Forward and Hyphen. Mexa is the one that allows gasless transactions in decentralised applications, while Forward allows users to pay transaction fees using tokens instead of cash. Hyphen, on the other hand, is meant to provide faster and inexpensive token transfers across different blockchain networks. Together, the three products give Biconomy multiple use cases. On the one hand, it provides gasless transactions, but on the other, it also allows interactions between layer 1 and layer 2 solutions, and in the long run can become part of any web3 platform that incorporates crypto transactions in any way. <cmsannotation type="cmsannotation" annotationid="Importance of the BICO token" comment="subhead" text="Importance of the BICO token">Importance of the BICO token</cmsannotation> While tokens like BICO have more applications than simple utility tokens, they too are traded on exchanges like WazirX. In the long run, tokens like BICO will attract serious crypto investors, who invest in the long term development of a company like Biconomy that helps decentralised apps and finance, rather than single tokens that may or may not survive. The token can be traded on WazirX in both INR and USD, and was trading at around ₹148 at the time of writing. Disclaimer: This is a sponsored post in partnership with WazirX.

Here’s how Indian crypto firm Biconomy is gearing up for web3

<keyword id="6355629" type="COMPANY" weightage="20" keywordseo="google">Google</keyword> announced a slight change to its stance on <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">cryptocurrencies</a> yesterday. The company will now allow <keyword id="2721952" type="PERSON" weightage="20" keywordseo="crypto">crypto</keyword> companies to run ads on its network in the US, starting from August. This is a big change for the crypto community, giving companies a big way to reach new users. The search giant had famously banned all crypto ads back in 2018, an overarching ruling that essentially affected all crypto companies. The rules were <a href="https://cointelegraph.com/news/search-giant-google-lifts-2018-ban-on-crypto-exchange-wallet-advertisements">later revised</a> to allow <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite">crypto exchanges</a>, but the company still left <keyword id="727091" type="COMPANY" weightage="20" keywordseo="wallets">wallets</keyword> out of its ad network. Starting this August, the company will allow wallets to run ads on Search, YouTube, and other corners of the Internet where Google’s ad network can reach. The company <a href="https://www.bloomberg.com/news/articles/2021-06-02/google-will-let-crypto-wallets-run-ads-ico-ads-to-remain-banned">said</a> the new rules are “in order to better match existing FinCEN regulations and requirements,” and companies will have to go through a certification process. FinCEN is the US Financial Crimes Enforcement Network. At the moment, Google seems to be allowing “wallets targeting the United States” to advertise, though the company said the policy will apply globally. What Google’s new ad policy means for crypto companies? Under the new rules, <keyword id="9285764" type="UNKNOWN" weightage="20" keywordseo="crypto-wallets">crypto wallets</keyword> will have to be registered with FinCEN or a federal or state-chartered bank entity to get on Google’s ad network. They will also need to “comply with relevant legal requirements, including local legal requirements, whether at a state or federal level”. Of course, all existing Google ad policies apply to crypto companies as well. Importantly, the company noted that crypto companies will have to re-register with their network. “All prior <keyword id="6357017" type="DEFINITION" weightage="20" keywordseo="cryptocurrency">Cryptocurrency</keyword> Exchange certifications will be revoked on August 3, 2021. Advertisers must request new <keyword id="6200159" type="COMPANY" weightage="20" keywordseo="Cryptocurrency-Exchanges">Cryptocurrency Exchanges</keyword> and Wallets certification with Google when the application form is published on July 8, 2021,” Google said in a blog <a href="https://support.google.com/adspolicy/answer/10688110?hl=en&amp;ref_topic=29265">post</a>. Some ads are still banned… That said, ads for <keyword id="4801869" type="COMPANY" weightage="20" keywordseo="initial-coin-offerings">Initial Coin Offerings</keyword> (ICOs) remain banned on <keyword id="493258" type="COMPANY" weightage="20" keywordseo="Google-Ads">Google Ads</keyword>. In addition, Decentralised Finance (DeFi) trading protocols, and ads that are “otherwise promoting” the sale, purchase, or trade of cryptocurrencies or related products are also banned. Companies can’t advertise for cryptocurrency loans, token liquidity pools, celebrity cryptocurrency endorsements, unhoster wallets and unregulated decentralised apps (DApps), either. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/huawei-announces-first-devices-with-harmonyos-set-to-take-on-apple-and-google-with-its-in-house-operating-system/articleshow/83195689.cms">Huawei announces first devices with HarmonyOS — set to take on Apple and Google with its in-house operating system</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-ce-5g-mobile-phone-full-specifications-leaked-days-ahead-of-launch/articleshow/83195375.cms">OnePlus Nord CE 5G full specifications leaked days ahead of launch – heavily inspired by the original Nord</a> <a href="https://www.businessinsider.in/business/startups/news/top-five-fintech-ideas-that-are-drawing-the-most-amount-of-money/slidelist/83194276.cms">Five fintech ideas that are raking in the most amount of money</a>

Google will now allow crypto wallets to advertise on its network in the US

<ul><li>Terra’s LUNA token is up by more than 3% since yesterday, while other cryptocurrencies continue to struggle</li><li>The surge comes on the back of <keyword id="6359140" type="General" weightage="20" keywordseo="binance" source="Orion">Binance</keyword> completing LUNA’s integration into the exchange and activating deposits for the altcoin.</li><li><keyword id="12996929" type="General" weightage="20" keywordseo="luna-foundation-guard" source="Orion">LUNA Foundation Guard</keyword> also announced its formation with the aim of supporting new projects that use Terra’s stablecoins.</li><li>Moreover Terra is stepping into the <keyword id="11121339" type="General" weightage="20" keywordseo="metaverse" source="Orion">metaverse</keyword> with Robohero, a play-to-earn game that uses the LUNA cryptocurrency.</li></ul>Terra’s LUNA cryptocurrency is the only major player in the space to gain above 3% in the last 24 hours. The token is one of very few to make price gains over the past week, even amidst a bear market. While the <a href="http://coindcx.com">cryptocurrency</a> wasn’t spared from the initial crypto crash, which saw its price plummet from an all-time-high of ₹7,693 in December — it has been climbing back up since and is currently trading at ₹6,134. Reasons for why LUNA has been able to hold its own range from the formation of the Luna Foundation Guard (LFG) to the launch of RoboHero, a <keyword id="12996928" type="General" weightage="20" keywordseo="metaverse-game" source="Orion">metaverse game</keyword> for smartphones based on the LUNA token. <a href="https://www.binance.com/en/support/announcement/ce99cf0612174b30bfec0400acf8e0af">Binance</a> too has completed LUNA’s integration into the exchange and activated deposits for the altcoin. Ever since it broke into the top ten cryptocurrencies in terms of market capitalisation last year, LUNA has more than <a href="https://www.businessinsider.in/cryptocurrency/news/to-the-moon-terras-luna-crypto-coin-has-shot-up-almost-80-in-a-week-vaulting-past-shiba-inu-and-avalanche/articleshow/88074641.cms">doubled</a> its price over the course of a year. Showing no signs of a slowdown yet, LUNA is seen to have the wind on its sail lately, with at least three positive influences. <cmsannotation type="cmsannotation" annotationid="LUNA Foundation Guard (LFG) established" comment="subhead" text="LUNA Foundation Guard (LFG) established">LUNA Foundation Guard (LFG) established</cmsannotation> Intended to grow the Terra ecosystem and help stabilise it, the LFG is a non-profit organisation. LFG has been<a href="https://medium.com/terra-money/formation-of-the-luna-foundation-guard-lfg-6b8dcb5e127b"> gifted 50 million</a> LUNA tokens by Terraform Labs, the company that operates the LUNA token. In a<a href="https://finance.yahoo.com/news/luna-foundation-guard-lfg-officially-003000734.html"> press release</a>, the LFG is stated to have two major goals – funding decentralised finance (DeFi) projects that utilise Terra’s stablecoins, and building a reserve to maintain Terra’s dollar-pegged stablecoin. Olympus DAO, Rari Fuse, Convex Finance and Tokemak are some of the crypto projects to whom Terra<a href="https://agora.terra.money/t/ust-goes-interchain-degen-strats-part-three/3527"> was discussing fund</a> allocation. <cmsannotation type="cmsannotation" annotationid="RoboHero: Metaverse game for smartphones that uses LUNA" comment="subhead" text="RoboHero: Metaverse game for smartphones that uses LUNA">RoboHero: Metaverse game for smartphones that uses LUNA</cmsannotation> RoboHero is a game<a href="https://robohero.io/roadmap"> in development</a>, which made a splash since releasing a<a href="https://www.youtube.com/watch?v=Q0EC089aAlU"> video trailer</a> last week. It is a metaverse game that lets players battle each other using<a href="https://cointelegraph.com/news/mechanical-beings-come-to-life-in-the-first-ever-play-to-earn-game-designed-for-smartphones-and-integrated-with-terra"> ‘BioRobots’</a>, while trading using ROBO tokens in-game. The developers have said it will be a play-to-earn (P2E) game, meaning rewards can be accumulated and traded for real-world cash. It will also feature NFTs, billboard ads, and give the player money just for watching ads (Watch 2 Earn). When completed, players can play RoboHero on their smartphone, and buy ROBO tokens using LUNA cryptocurrency. <cmsannotation type="cmsannotation" annotationid="Terra UST stablecoin rises three-fold" comment="subhead" text="Terra UST stablecoin rises three-fold">Terra UST stablecoin rises three-fold</cmsannotation> The UST is a major, but just one of the stablecoins maintained by Terra. Between November 2021 and mid-January 2022, the circulating value of Terra UST<a href="https://messari.io/asset/terrausd"> rose three-fold</a>, from less than $3 billion to $11.06 billion today.<a href="https://www.coindesk.com/markets/2021/11/10/terra-passes-highly-anticipated-proposal-to-burn-nearly-89m-luna/"> Changes in LUNA</a> supply is seen to have enabled the steep rise in its circulating market capitalisation value. Such a rise encouraged the founder of Terra to<a href="https://twitter.com/stablekwon/status/1473101249117515780"> tweet a wish</a>, indicating desire to become dominant among stablecoins. <cmsannotation type="cmsannotation" annotationid="What is Terra’s LUNA cryptocurrency" comment="subhead" text="What is Terra’s LUNA cryptocurrency">What is Terra’s LUNA cryptocurrency</cmsannotation> <a href="https://www.businessinsider.in/investment/news/terra-is-the-second-biggest-defi-player-in-the-crypto-market-but-it-may-be-overvalued/articleshow/88412814.cms">Terra</a>, the promoter of the LUNA token says this blockchain intends to create a better digital financial system. LUNA allows smart contracts and building dApps on top of the Terra network, including DeFi protocols such as Anchor and Mirror. Eschewing powerful mining networks, the currency issuance mechanism of Terra helps reduce <a href="https://www.businessinsider.in/cryptocurrency/news/energy-consumption-is-a-constant-concern-in-crypto-mining-but-more-sustainable-practices-are-emerging/articleshow/84444051.cms">energy consumption</a>. Terra uses the day-to-day price stability of fiat currencies, to create ‘stablecoins’ – similar to how Tether uses the US Dollar as a peg to create the USDT cryptocurrency. Thus <a href="https://www.businessinsider.in/cryptocurrency/news/terras-stablecoin-ust-trumps-makerdaos-dai-with-5x-increase-in-valuation-this-year/articleshow/88613563.cms">Terra offers a basket of stablecoin</a> currencies, pegged to the likes of the US Dollar, Euro, IMF SDR, British Pound, Japanese Yen, and South Korean Won. When transaction volumes of these currencies increase, Terra sells the native LUNA to get price stability — liquidity to match the fiat currency in circulation. When transaction volumes decrease, Terra buys back LUNA. This does mean intra-day volatility for the LUNA token, structured intentionally to minimise volatility of Terra’s stablecoins. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/cardano-jumps-on-the-metaverse-bandwagon-with-pavia-heres-everything-you-need-to-know-about-adas-entry-into-play-to-earn/articleshow/89012262.cms">Cardano jumps on the metaverse bandwagon with Pavia — here’s everything you need to know about ADA’s entry into play-to-earn</a> <a href="https://www.businessinsider.in/investment/news/coindcx-hiring-2000-plus-people-this-year-crypto-coders-developers-product-development-and-other-roles/articleshow/88972086.cms">EXCLUSIVE: CoinDCX plans to hire more than 2,000 people this year — and they are not just looking at coders</a> <a href="https://www.businessinsider.in/investment/news/one-of-the-largest-cryptocurrency-swapping-platforms-just-lost-1-3-million-as-users-failed-to-update-approvals/articleshow/88992186.cms">One of the largest cryptocurrency swapping platforms just lost $1.3 million as users failed to update approvals</a>

Terra's LUNA token continues to hold its own even in a crypto bear market — here's why

<ul><li><keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword> is allowing <keyword id="7133637" type="UNKNOWN" weightage="20" keywordseo="crypto-companies">crypto companies</keyword> to advertise on its network again starting today, August 3.</li><li>The largest ad network in the world had banned crypto ads in March, earlier this year.</li><li>The new policy is only open to crypto wallets based out of the US and registered with the FinCEN.</li></ul>Crypto ads are back on Google’s advertising platforms after the company revised its policies in June, but it’s not nearly as open as before. The tech giant had banned all advertising related to <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">crypto</a> companies and initial coin offerings (ICOs) in March this year. The policy imposed an overarching ban on almost every crypto product, including exchanges, wallets and more. Come June, Google revised that policy to allow select companies to back onto its advertising network — the largest in the world — in a sign that the crypto and blockchain industry had somehow matured over the span of three months. <div type="ExtQuote" text="All prior Cryptocurrency Exchange certifications will be revoked on August 3, 2021. Advertisers must request new Cryptocurrency Exchanges and Wallets certification with Google when the application form is published on July 8, 2021." auname="Statement by Google in June"></div> The new policy allowing crypto ads on Google’s network again goes live today, on August 4. <cmsannotation type="cmsannotation" annotationid="Only crypto companies based out of the US will be able to place ads on Google" comment="subhead" text="Only crypto companies based out of the US will be able to place ads on Google">Only crypto companies based out of the US will be able to place ads on Google</cmsannotation> The new policy applies to <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite&amp;is_retargeting=false&amp;shortlink=BI&amp;c=site&amp;pid=Business%20Insider&amp;af_click_lookback=7d&amp;af_channel=Business%20Insider&amp;af_adset=article&amp;af_force_deeplink=true">crypto wallets</a> based in the US only. The ads, however, will be displayed globally. Google also required crypto businesses to be registered with the US Financial Crimes Enforcement Network (FinCEN) as a Money Services Business with at least one state as a money transmitter. This lends some more credibility to businesses advertising on its network. They also have to be registered with a federal or state chartered bank entity, and comply with “relevant legal requirements” and of course, Google’s own advertising policies. <cmsannotation type="cmsannotation" annotationid="Initial coin offerings (ICOs) and decentralised finance (DeFi) trading protocols will have to wait their turn" comment="subhead" text="Initial coin offerings (ICOs) and decentralised finance (DeFi) trading protocols will have to wait their turn">Initial coin offerings (ICOs) and decentralised finance (DeFi) trading protocols will have to wait their turn</cmsannotation> The new policy isn’t without its limitations. While crypto wallets and exchanges are in the clear, Google still won’t allow advertising about ICOs and DeFi trading protocols. The company said it will also prevent the advertising of products that are “otherwise promoting the purchase, sale or trade of cryptocurrencies or related products”, and provided a non-exhaustive list for what this might include. “ICO pre-sales or public offerings, cryptocurrency loans, initial DEX offerings, token liquidity pools, celebrity cryptocurrency endorsements, unhosted wallets, unregulated DApps,” are some of the examples of products that are still banned, according to the tech giant. This means that crypto trading signals, crypto investment advice and aggregators or affiliate sites which contain related content — or broker reviews — will be banned from advertising. Essentially, Google doesn’t want companies that aggregate or compare issuers of cryptos to advertise on its platforms. While the crypto community may take the change in Google’s policies as a shot in the arm, the tech giant may be right to keep the above limitations. “Facebook ads are plastered with crypto scams. Not sure this is good news,” <a href="https://old.reddit.com/r/Bitcoin/comments/ox68rn/today_google_lifted_its_ban_on_bitcoin_ads_and/">said</a> one Redditor, in what is a common concern cited by experts and users around crypto ads. Taking a phased approach to allowing crypto advertising on its platforms may give Google more time to gauge the industry and understand its nuances. <keyword id="6422582" type="UNKNOWN" weightage="20" keywordseo="Crypto-Exchanges">Crypto exchanges</keyword> have gained prominence over the past year, during Bitcoin’s bull run, leading to more regulatory scrutiny and better understanding amongst users. Many other crypto products remain in the grey area though. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/ethereums-upcoming-update-will-change-the-fundamentals-of-mining/articleshow/85028472.cms">Ethereum 2.0 will consume less energy — but it may also mean less profit for miners</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/indias-nft-space-is-growing-almost-as-fast-as-crypto/articleshow/84974126.cms">India’s NFT space is growing almost as fast as cryptocurrencies did</a>

Google is bringing back crypto ads — but is leaving a lot of crypto companies out of the loop

<ul class="summary-list"><li>Yield farming involves lending or <keyword id="12145979" type="UNKNOWN" weightage="60" keywordseo="staking" source="Orion">staking</keyword> cryptocurrency in exchange for interest and other rewards.</li><li>Yield farmers measure their returns in terms of annual percentage yields (APY).</li><li>While potentially profitable, yield farming is also incredibly risky.</li></ul>Yield farming is a means of earning interest on your cryptocurrency, similar to how you'd earn interest on any money in your savings account. And similarly to depositing money in a bank, yield farming involves locking up your cryptocurrency, called "<a href="https://www.businessinsider.com/staking-crypto" target="_blank" rel="noopener">staking</a>," for a period of time in exchange for interest or other rewards, such as more cryptocurrency."When traditional loans are made through banks, the amount lent out is paid back with interest," explains Daniel R. Hill, CFP, AIF and president of Hill Wealth Strategies. "With yield farming, the concept is the same: cryptocurrency that would normally just be sitting in an account is instead lent out in order to generate returns."Since yield farming began in 2020, yield farmers have earned returns in the form of annual percentage yields (APY) that can reach triple digits. But this potential return comes at high risk, with the protocols and coins earned subject to extreme volatility and rug pulls wherein developers abandon a project and make off with investors' funds.Note: The returns you earn by yield farming are expressed as APY, or the rate of return you'd earn during a year.<h2>Understanding how yield farming works</h2>Also known as liquidity farming, yield farming works by first allowing an investor to stake their coins by depositing them into a lending protocol through a decentralized app, or dApp. Other investors can then borrow the coins through the dApp to use for <a href="https://www.businessinsider.com/what-is-speculation" target="_blank" rel="noopener">speculation</a>, where they try to profit off of sharp swings they anticipate in the coin's market price."Yield farming is simply a rewards program for early adopters," says Jay Kurahashi-Sofue, VP of marketing at Ava Labs, a team supporting development of the Avalanche public blockchain that works with several defi applications that offer yield farming. Blockchain-based apps offer incentives for users to provide <a href="https://www.businessinsider.com/what-is-liquidity" target="_blank" rel="noopener">liquidity</a> by locking up their coins in a process called staking. "Staking occurs when centralized <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> platforms take customers' deposits and lend them out to those seeking credit," Hill says. "Creditors pay interest, depositors receive a certain proportion of that and then the bank takes the rest.""This lending is usually facilitated through smart contracts, which are essentially just a piece of code running on a blockchain, functioning as a liquidity pool," says Brian Dechesare, former investment banker and CEO of financial career platform Breaking Into Wall Street. "Users who are yield farming, also known as liquidity providers, lend their funds by adding them to a smart contract."Investors who lock up their coins on the yield-farming protocol can earn interest and often more cryptocurrency coins - the real boon to the deal. If the price of those additional coins appreciates, the investor's returns rise as well.This process provides the liquidity newly launched blockchain apps need to sustain long-term growth, says Kurahashi-Sofue. "[These apps] can increase community participation and secure this liquidity by rewarding users with incentives like their own governance tokens, app transaction fees and other funds," Kurahashi-Sofue says.Kurahashi-Sofue adds that you could compare yield farming to the early days of ride-sharing. "Uber, Lyft, and other ride-sharing apps needed to bootstrap growth, so they provided incentives for early users who referred other users onto the platform," he says.Another incentive for staking is to accumulate enough shares of the cryptocurrency to force a hard fork where a major infrastructural change is made to the design of the cryptocurrency, says Daniel J. Smith, professor of economics in the Political Economy Research Institute at Middle Tennessee State University.Note: A hard fork is a change in a cryptocurrency network's protocol that causes blocks or transactions to be either validated or invalidated, forcing developers to upgrade their protocol software."Hard forks enable the holders of crypto to force changes that would, at least in the opinion of the majority of the holders, improve the cryptocurrency going forward," Smith says. In a way, hard forking gives crypto investors a power similar to what share voting does for stockholders. The same way shareholders can vote on key matters affecting the management or direction of the companies they invest in, cryptocurrency holders can use hard forks to push a cryptocurrency protocol in a certain direction.Staking coins to cause a hard fork "allows crypto to take on (this) important characteristic of equity investments," Smith adds, and "moves crypto from a cash-like investment in a portfolio to a quasi-equity investment."<h2>Is yield farming safe? </h2>Yield farming is rife with risk. Some of these risks include:<ul><li>Volatility: Volatility is the degree to which an investment's price fluctuates. A volatile investment is one that experiences a lot of price movement in a short period of time. The price of your tokens <a href="https://markets.businessinsider.com/news/currencies/crypto-ethereum-defi-yield-farming-mark-cuban-iron-titan-2021-07">could crash</a> or surge while they're locked up.</li><li>Fraud: Yield farmers may unwittingly put their coins into fraudulent projects or schemes that make off with all of the farmer's coins. In fact, fraud and misappropriation account for the vast majority of the $1.9 billion in crypto crimes in 2020, according to <a href="https://ciphertrace.com/2020-year-end-cryptocurrency-crime-and-anti-money-laundering-report/#summary" target="_blank" rel="noopener">a report</a> by CipherTrace.</li><li>Rug pulls: Rug pulls are a type of exit scam where a cryptocurrency developer gathers investor funds for a project then abandons the project without returning investors' funds. The previously mentioned CipherTrace report noted that nearly 99% of the major fraud that occurred during the second half of the year was due to rug pulls and other exit scams, which yield farmers are particularly susceptible to.</li><li>Smart contract risk: The smart contracts used in yield farming can have bugs or be susceptible to hacking, putting your cryptocurrency at risk. "Most of the risks with yield farming relate to the underlying smart contracts," Kurahashi-Sofue says. Better code vetting and third party audits are improving the security of these contracts.</li><li>Impermanent loss: The value of your cryptocurrency could rise or fall while it is staked, creating temporarily unrealized gains or losses. These gains or losses become permanent when you withdraw your coins, and may result in you having been better off if you'd kept your coins available to trade if the loss is greater than the interest you earned.</li><li>Regulatory risk: There are still many regulatory questions around cryptocurrency. The SEC has stated that some digital assets are securities and thus fall under its jurisdiction, allowing it to regulate them. State regulators have already <a href="https://markets.businessinsider.com/news/currencies/blockfi-crypto-platform-texas-alabama-new-jersey-interest-account-2021-7" target="_blank" rel="noopener">issued cease and desist orders</a> against one of the biggest crypto lending sites, BlockFi.</li></ul>"There's always risk in using decentralized apps," Kurahashi-Sofue says. "It's all about minimizing the risk enough for you to be comfortable with using them, based on your own research. Users should always look into the team behind the application and its transparency and diligence with security audits."In the news: The biggest cryptocurrency theft to date involved hackers <a href="https://markets.businessinsider.com/news/currencies/poly-network-crypto-hackers-return-half-600-million-stole-defi-2021-8" target="_blank" rel="noopener">stealing $600 million from the Poly Network</a> in August 2021.<h2>Is crypto yield farming profitable? </h2>While yield farming is unquestionably risky, it can also be profitable - otherwise no one would bother attempting it. CoinMarketCap provides yield-farming rankings with various liquidity pools' yearly and daily APY. It's easy to find pools running with double digit yearly APY, and some with those thousand-percentage point APYs. But many of these also have a high risk of impermanent loss, which should make investors question if the potential reward is worth the risk. "The profitability of yield farming, just like investment in crypto more generally, is still very uncertain and speculative," Smith says. He believes the potential return pales in comparison to the risk involved in locking up your coins while yield farming.Your overall profit will also depend on how much cryptocurrency you're able to stake. To be profitable, yield farming requires thousands of dollars of funds and extremely complex strategies, Dechesare says.<h2>5 yield-farming protocols to know about</h2>Yield farmers sometimes use DeFi platforms that offer various incentives for lending to optimize the return on their staked coins. Here are five yield-farming protocols to know about:<ul><li>Aave is an open source liquidity protocol that lets users lend and borrow crypto. Depositors earn interest on deposits in the form of AAVE tokens. Interest is earned based on the market borrowing demand. You can also act as a depositor and borrower by using your deposited coins as collateral.</li><li>Compound is an open source protocol built for developers that uses an algorithmic, autonomous interest rate protocol to determine the rate depositors earn on staked coins. Depositors also earn COMP tokens.</li><li>Curve Finance is a liquidity pool on Ethereum that uses a market-making algorithm to let users exchange stablecoins. Pools using stablecoins can be safer since their value is pegged to another medium of exchange.</li><li>Uniswap is a decentralized exchange where liquidity providers must stake both sides of the pool in a 50/50 ratio. In exchange, you earn a portion of the transaction fees plus UNI governance tokens.</li><li>Instadapp is designed for developers and allows users to build and manage their decentralized finance portfolio. As of Oct. 31, more than $12 billion is locked on Instadapp.</li></ul><h2>The financial takeaway</h2>Yield farming involves staking, or locking up, your cryptocurrency in exchange for interest or more crypto. "As crypto becomes more popular, yield farming will become more mainstream. It's a simple concept that has been around for as long as banks have existed and is just a digital version of lending with interest for profit to the investors," Hill says.While it's possible to earn high returns with yield farming, it is also incredibly risky. A lot can happen while your cryptocurrency is locked up, as is evidenced by the many rapid price swings known to occur in the crypto markets."As with anything in life, if something is too good to be true, it likely is," Kurahashi-Sofue "It's best to understand how yield farming works and all of the underlying risks and opportunities prior to participating in yield farms."<a data-type="611446ec37043a480114bb24">What to know about non-fungible tokens (NFTs) - unique digital assets built on blockchain technology</a><a data-type="615b54f8ea58a46fdd2c4ed0">What is a crypto wallet? Understanding the software that allows you to store and transfer crypto securely</a><a data-type="613fc21a37043a76c60803d3">Ready to invest in Bitcoin? Here are 4 steps to get started</a><a data-type="610ae71ab0b35f330c4d0734">Altcoins are the alternative digital currencies to bitcoin - here's what they are and how they work</a>

Yield farming: An investing strategy involving staking or lending crypto assets to generate returns

<ul><li>The <keyword id="12993219" type="General" weightage="20" keywordseo="pavia-metaverse" source="Orion">Pavia metaverse</keyword> platform and its native in-game currency are built upon the <keyword id="5294933" type="General" weightage="20" keywordseo="cardano" source="Orion">Cardano</keyword> blockchain.</li><li><keyword id="259511" type="General" weightage="20" keywordseo="pavia" source="Orion">Pavia</keyword> expects to be a play-to-earn game, with its native token already trading on certain decentralised exchanges (DEXs).</li><li>Two-thirds of land parcels have already been sold, the rest will be auctioned by March 2022.</li><li>The game is a work in progress for now – player avatars can be customised, but owned land cannot be ‘developed’ yet.</li></ul>Pavia, a metaverse game in development since September 2021, is one of the reasons Cardano has<a href="https://www.businessinsider.in/cryptocurrency/news/cardano-rises-as-the-crypto-market-battles-extreme-fear/slidelist/88966161.cms"> been rising</a> in value even in a week that saw most cryptocurrencies trending downwards. With asking prices for plots of land in <a href="https://www.pavia.io/assets/images/pavia_road_map.svg">Pavia</a> going for <a href="https://cnft.io/marketplace?project=Pavia">more than $1,000</a> apiece, this metaverse platform is being touted on Twitter to be the next Decentraland but with a twist – it uses Cardano, an eco-friendly cryptocurrency instead of Ethereum. Funded by sales of virtual land, the Pavia project takes aim at a number of buzzwords – <a href="http://coindcx.com">metaverse</a>, a virtual world built by players, play to earn (P2E), and land sold as non-fungible tokens (NFTs). Pavia is one of the first Cardano-based metaverse projects to be opened to the public, although it is not the only one – other projects in the space include Cardania, Cornucopias and Cardano Village. <cmsannotation type="cmsannotation" annotationid="What is Cardano’ metaverse, Pavia?" comment="subhead" text="What is Cardano’ metaverse, Pavia?">What is Cardano’ metaverse, Pavia?</cmsannotation> Pavia is a virtual world, a decentralised metaverse game which will be built by and for players. It is based on the P2E concept, meaning players will be able to explore it while they earn and spend using in-game money, called PAVIA tokens. <div type="image" title="1" msid="89013368" hostid="261" caption="&amp;lt;p&amp;gt;Avatars within the Pavia metaverse&amp;lt;/p&amp;gt;"></div> The project’s website explains that it was named Pavia, after the namesake Italian town in which Gerolamo Cardano, an influential historical person of the 16th century Renaissance used to live. That name is significant, for the reason that Pavia uses the Cardano cryptocurrency blockchain. Metaverse refers to a virtual world where people use digital ‘avatars’ to interact with each other. Such a change in communication methods is expected to<a href="https://www.businessinsider.in/investment/news/the-metaverse-may-change-the-way-you-earn-money-shop-or-even-chill-with-friends-in-the-future/slidelist/86677906.cms"> change society</a> as much as the advent of the Internet. <cmsannotation type="cmsannotation" annotationid="How are people buying digital land, and earning from it?" comment="subhead" text="How are people buying digital land, and earning from it?">How are people buying digital land, and earning from it?</cmsannotation> In-game land plots were sold in two phases so far, with a third phase to take place by March 2022 in an auction, according to<a href="https://www.pavia.io/assets/images/pavia_road_map.svg"> Pavia’s roadmap</a>. That accounts for at least 100,000 ‘land parcels’, with a<a href="https://www.pavia.io/"> claimed</a> 8,300 land owners. These owners are entitled to earn revenue from financial activity on their land, such as income from a rented museum’s ticket collections. <div type="image" title="2" msid="89013408" hostid="261" caption="&amp;lt;p&amp;gt;The Pavia world map shows about one-third of the land to be available, possibly for sale in the third phase.&amp;lt;/p&amp;gt;"></div> Since these plots of land are selling as NFTs, secondary sale at a profit can be seen at the<a href="https://cnft.io/marketplace?project=Pavia"> Cardano NFT market place</a>. The marketplace notes that Pavia land has royalties associated. This means that 2.5% of the price would reach the project each time a land NFT changes hands. At the time of writing, the minimum listed price for the cheapest land had increased by 100 ADA coins — which is approximately $150 or ₹11,100 — while other owners had listed land to be sold at $1 million or ₹7.5 crore. For now, this is<a href="https://www.businessinsider.in/cryptocurrency/news/the-cheapest-piece-of-metaverse-land-you-can-buy-is-going-for-a-whopping-11000/articleshow/88761600.cms"> still cheaper</a> than land prices on<a href="https://www.businessinsider.in/investment/news/the-sandbox-decentraland-and-cryptovoxels-see-sales-surge-as-companies-look-to-get-in-on-the-ground-floor/articleshow/88137990.cms"> other metaverse</a> platforms like Decentraland and The Sandbox. <cmsannotation type="cmsannotation" annotationid="You can’t really do much within the Pavia universe, yet" comment="subhead" text="You can’t really do much within the Pavia universe, yet">You can’t really do much within the Pavia universe, yet</cmsannotation> As of January 19, the ‘in-game Pavia experience’ is a work in progress. While NFT owners can see where their land parcel is located on a map, they cannot not visit, develop, or otherwise build anything on it yet. <div type="image" title="3" msid="89013427" hostid="261" caption="&amp;lt;p&amp;gt;Representation of how Pavia thinks land will be developed&amp;lt;/p&amp;gt;"></div> Although the game itself is in development, players can customise their avatars using the ReadyPlayer platform, and use the avatar outside of Pavia as well. Pavia’s roadmap mentions that its first live event, which could help with driving up a platform’s visibility, will be held sometime between July and September, later this year. <cmsannotation type="cmsannotation" annotationid="Pavia’s native cryptocurrency" comment="subhead" text="Pavia’s native cryptocurrency">Pavia’s native cryptocurrency</cmsannotation> Owners of land parcels received PAVIA tokens in<a href="https://twitter.com/Pavia_io/status/1471488467888574465"> December 2021</a>, intended for use within the game for transactions. Being a P2E game, this is the in-game money in which items would be denominated. Players would accumulate assets, to eventually trade for other in-game items or sell the tokens to others to redeem cash — or other cryptocurrencies — instead. PAVIA tokens reside on the Cardano blockchain and are traded only on select decentralised exchanges for now, at an<a href="https://ada.muesliswap.com/markets/token/884892bcdc360bcef87d6b3f806e7f9cd5ac30d999d49970e7a903ae.PAVIA"> effective exchange rate</a> of $0.25 or ₹19 per PAVIA token. According to<a href="https://messari.io/screener/most-active-chains-DB01F96B"> Messari research</a>, the Cardano blockchain was among the top three cryptocurrencies by activity this week. Cardano secures its blockchain with a proof-of-stake (PoS) mechanism, that is<a href="https://www.businessinsider.in/investment/news/ten-eco-friendly-crypto-currencies-to-keep-an-eye-on-in-2022/slidelist/88761804.cms"> easy on the environment</a> compared to the energy-guzzling Ethereum network. It supports smart contracts, non-fungible tokens, DApps for decentralised finance (DeFi), and a<a href="https://roadmap.cardano.org/en/"> planned upgrade</a> to improve scaling. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/coindcx-hiring-2000-plus-people-this-year-crypto-coders-developers-product-development-and-other-roles/articleshow/88972086.cms">EXCLUSIVE: CoinDCX plans to hire more than 2,000 people this year — and they are not just looking at coders</a> <a href="https://www.businessinsider.in/investment/news/spain-joins-india-singapore-to-tame-cryptocurrency-ads/articleshow/88988983.cms">Spain joins countries like India to keep crypto companies from promising wild returns in ads</a> <a href="https://www.businessinsider.in/investment/news/one-of-the-largest-cryptocurrency-swapping-platforms-just-lost-1-3-million-as-users-failed-to-update-approvals/articleshow/88992186.cms">One of the largest cryptocurrency swapping platforms just lost $1.3 million as users failed to update approvals</a>

Cardano jumps on the metaverse bandwagon with Pavia — here’s everything you need to know about ADA’s entry into play-to-earn

• <keyword id="219358" type="PERSON" weightage="60" keywordseo="Mark-Cuban">Mark Cuban</keyword> sees decentralized autonomous organizations, or DAOs, as disruptive.• DAOs run on blockchains, democratize decisions, and use smart contracts.• <keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword>'s <keyword id="6362665" type="ORGANIZATION" weightage="60" keywordseo="berkshire-hathaway">Berkshire Hathaway</keyword> relies on decentralization and autonomy.• <a href="https://www.businessinsider.com/?hprecirc-bullet">See more stories on Insider's business page</a>.The tech billionaire Mark Cuban expects decentralized autonomous organizations, or DAOs, to transform how companies are built and run. Warren Buffett's Berkshire Hathaway embraced decentralization and autonomy decades ago, paving the way for DAOs.DAOs are "the ultimate combination of capitalism and progressivism," Cuban <a href="https://twitter.com/mcuban/status/1399498071873134592">tweeted</a> on Monday."There are so many features and processes in any given company that can be more efficient and productive using a decentralized, trustless approach. As companies are built on this approach we will see some incredibly disruptive businesses built," the "<keyword id="1417364" type="COMPANY" weightage="60" keywordseo="Shark-Tank">Shark Tank</keyword>" star, <keyword id="218068" type="ORGANIZATION" weightage="60" keywordseo="Dallas-Mavericks">Dallas Mavericks</keyword> owner, and <a href="https://markets.businessinsider.com/currencies/news/mark-cuban-praises-dogecoin-defi-nfts-bitcoin-not-inflation-hedge-2021-3-1030172586">dogecoin champion</a> added.Buffett's company showcases the power of the core ideas that underpin DAOs, and it could even be considered the precursor to this new breed of organization.<h2>What is a <keyword id="786882" type="ORGANIZATION" weightage="60" keywordseo="DAO">DAO</keyword>?</h2>DAOs are digital organizations that provide a fresh way to fund ventures, democratize decisions, and split proceeds. They're "decentralized" because they're hosted on a blockchain and all their stakeholders, not just executives and board members, make decisions. They're "autonomous" because they employ smart contracts that automatically execute actions when certain conditions are met, without requiring human approval.Typically, anyone who owns tokens tied to a DAO can vote on proposals, and their votes are weighted based on the number of tokens they hold - similar to the voting rights attached to shares. If a proposal garners enough votes, a smart contract is triggered, and the approved action is executed."If blockchains, NFTs, smart contracts, DeFi protocols, and DApps are tools, DAOs are the groups that use them to create new things," Packy McCormick explained in his Not Boring newsletter <a href="https://www.notboring.co/p/the-dao-of-daos">earlier this year</a>. "If they're the what, DAOs are the how."McCormick also pointed out that Vitalik Buterin, ethereum's cofounder, highlighted DAOs as a potential blockchain application in ethereum's white paper in 2013.<h2>Berkshire is an analog DOA</h2>The core principles underlying DAOs, decentralization and autonomy, are key elements of Berkshire's corporate structure.Buffett's company owns scores of businesses, including Geico, See's Candies, and BNSF Railway, and it employed 360,000 people at the last count. But only a couple dozen people work at Berkshire's headquarters in Omaha, Nebraska.That disconnect is possible because Berkshire has decentralized its operations into dozens of subsidiaries, which are themselves divided into thousands of smaller business units. It also embraces autonomy, leaving its subsidiaries to run themselves with virtually no interference."We would rather suffer the visible costs of a few bad decisions than incur the many invisible costs that come from decisions made too slowly - or not at all - because of a stifling bureaucracy," Buffett explained in his <a href="https://www.berkshirehathaway.com/letters/2009ltr.pdf">2009 letter to shareholders</a>.Lawrence Cunningham, a law professor at George Washington University and the author of multiple books about Buffett, highlighted decentralization and autonomy as two of Berkshire's core management principles in "Margin of Trust." He concluded that the company's trust-based culture allowed them to work."Neither decentralization nor autonomy are the primary reasons for Berkshire's success or durability," he wrote. "Trust is. Autonomy is a manifestation of trust; decentralization is a consequence of it."There are clear differences between Berkshire, a sprawling conglomerate of decentralized, autonomous businesses, and DAOs, blockchain-based constructs that rely on smart contracts to strike virtual deals. For one, trust is critical to Berkshire's success, while DAOs enable "trustless" processes - at least in Cuban's view.But it's fair to say Buffett's company is grounded in the approach Cuban sees as key to the beneficial disruption brought by DAOs and could be seen as a forerunner of such organizations.

Mark Cuban predicts DAOs will transform companies. Warren Buffett's Berkshire Hathaway embraced the core ideas behind the latest crypto trend decades ago.

The World Wide Web, as we know it, has been evolving at a breakneck speed over the years. Yet, it hit the mainstream just 25 years back, and within that period, it has already undergone multiple transformations. What is <keyword id="692030" type="General" weightage="20" keywordseo="web-3-0" source="Orion">Web 3.0</keyword>? The early period of the Internet, or Web 1.0, was when we accessed it through our desktop browsers — laptops were a luxury, Wi-Fi just about getting started, and mobile data non-existent — and visited portals like Yahoo and MSN. The internet was in a ‘Read’ mode and we had limited ability to interact with it. <div type="image" title="Dec 2021 infographic for Business insider 1." height="900" width="1200" msid="88826492" hostid="261" caption="&amp;lt;p&amp;gt;The evolution of web over the years.&amp;lt;/p&amp;gt;"></div> That changed in 2005, the period of <keyword id="68431" type="General" weightage="20" keywordseo="web-2-0" source="Orion">Web 2.0</keyword> when we could start interacting with the Internet. Suddenly blogging, writing reviews on Yelp and commenting on articles became a way of life. And Web 2.0 saw the rise of an exciting new breed of ‘<keyword id="6355103" type="General" weightage="100" keywordseo="social" source="Orion">Social</keyword>’ companies like Orkut, Facebook, Twitter, Insta — I call them Social 1.0 — as well as other platform companies such as Airbnb and Uber. Today, we are in the midst of the evolution of Web 2.0 and many experts believe that it still has a long way to go. So, what’s Web 3.0? Well, depending upon who you ask and the time of the day, you will get answers like Blockchain, Crypto, DeFi, dApps, DAO, NFTs and so on! Fundamentally, it is an obsession around the themes of trust-less computing, decentralisation and, in a very utopian way, deregulation. But was is it really all about? I believe that underlying these technology trends, Web 3.0 is really about assertion for greater control by the two important stakeholders of the Internet — the creators and the consumers — in terms of how they earn $$ on various Social platforms and their data privacy. And not so much about the technological building blocks like NFT and blockchain – that is more of a religious debate within the technology community, while the larger issue is about how can we hand back control to the stakeholders. So, what played out in Social 1.0? The primary currency that you earned in Social 1.0 was your social influence. It was measured in terms of likes, retweets and followers. And there were limited opportunities to monetise on-platform. So, creators focused on building a large social influence and marketing their content or courses to their followers via links to other adjacent platforms like Gumroad. In time, affiliate marketing also caught on and soon the ‘influencers’ started plugging Brands to their followers, earning money for promotion or earning a commission as a percentage of the sales. All this led to a scenario where influencers created “shrill” and “clickbait” content to get more followers, more clicks and more revenue. For us consumers, who were getting a firehose of content, it seemed like a good deal as it was for free. Or was it? We soon realised that we had been paying for the services with our data! Our interests, our social graphs, our preferences weren’t private after all - they were sold to the advertisers with the highest bid. Worse, there was no incentive for the Social 1.0 companies to discourage fake news, trolling, bullying and shaming on their platform — that only meant more visits, more engagement and thereby more opportunity to serve ads to the users! <keyword id="12927406" type="General" weightage="20" keywordseo="social-2-0" source="Orion">Social 2.0</keyword> Social 2.0 is a term that I use for companies that are trying to change the status quo, and are putting the interests of the creators and the consumers front and center. Their focus is on having a flexible and transparent business model for creators to earn, with a huge emphasis on data privacy. It is about companies willing to give the control back to the stakeholders, doesn’t matter whether the company is built on top of Web 2.0 or Web 3.0 technologies. The torchbearer of this revolution is Patreon; it was born when its co-founder, Jack Conte, a musician, had an epiphany: Instead of spending his time, effort and $$ on promoting music videos on YouTube (and earning a measly $180 if he was lucky enough to get a million views), what if he simply focused his energies on identifying his 18 super-fans who would be willing to donate $10 each month to support him? This concept of micro-tipping caught on and today there are more than 250,000 creators on this platform! No wonder then that Patreon, in its latest funding round of $155M, was valued at $4Bn. Similarly, Substack is a Social 2.0 company (built on top of Web 1.0 technologies), which enables writers to start email newsletters and earn via subscriptions. Today, some of the top writers earn close to $500K annually, and seasoned journalists have quit their cushy jobs with institutions like NYT and Buzzfeed to focus on writing on Substack. Subscription is King The subscription-led models of Social 2.0 companies like Patreon, Substack, Twitch and others enable creators to focus on building a steady annuity income and start thinking of Social as a serious business with predictable income-flows. Kevin Kelly, a respected editor of Wired, had predicted in 2008 that a creator needs just a thousand true-fans to earn a living. Today, the power of distribution of the Internet and the proliferation of Social 2.0 companies ensure that any creator can find his true fans from across the globe. More importantly, the focus on narrow-casting, instead of trying to build a fan-base of millions, gives the creators more creative freedom — as long as there are 1000 fans who see value in their creations and are willing to support them, they are free to create what they want and don’t have to worry about conforming to popular taste or the constraints of ad-based, dopamine-led monetisation models. This freedom from AI algorithms, which identify and promote the most “engaging” content is liberating. Creators are in more control of the content, how they wish to price it and, in some cases, about who finally owns the customer. For example, platforms like Substack allow the writer to take his mailing list with him, in case he decides to move his business to another platform. Data Privacy The subscription-led model, where the platforms take a % of the earnings, ensures that they don’t need to store user data and monetise it via ads, leading to better data privacy. Further, not having to rely upon dopamine-based ad models means that platforms are not incentivised anymore to promote sensationalism or fake news just to drive up engagement on the platform, leading to a better overall user experience. Unbundling One of the biggest impacts of Social 2.0 is the unbundling of the Big-Tech — instead of users aggregating to a handful of Social 1.0 companies, creators and their fans are flocking to a multitude of platforms that offers their niche or community the best solution. From game-streaming moving to Twitch, writers to Substack and unbundling of Facebook Groups to paid communities on Slack and Discord channels, we will see Social 2.0 companies proliferating in various forms and shapes that it might be difficult for us to even recognise some of them as ‘Social’. Hustle vs Creating Value Thus, we can see that Social 2.0 is going to create a class of creators who, instead of constantly worrying about having to grow their follower-base, create “clickbait” and “shrill” content, can now focus on creating meaningful content, which they and their fans enjoy, and build a sound business around it. Hustling in front of a million fans is going to give way to creating value for a thousand true fans. And that is going to fundamentally alter the landscape of the Creator Economy. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/facebook-microsoft-and-others-look-towards-the-1-trillion-dollar-metaverse-opportunity-but-that-contradicts-the-base-philosophy-behind-web-3-0/articleshow/87959802.cms" data-type="tilCustomLink">Facebook, Microsoft and others look towards the $1 trillion dollar ‘metaverse’ opportunity — but that contradicts the base philosophy behind Web 3.0</a> <a href="https://www.businessinsider.in/investment/news/bitcoin-ethereum-and-others-have-lost-nearly-40-percent-since-their-record-highs-but-investors-are-still-better-off-than-they-were-a-year-ago/articleshow/88823379.cms" data-type="tilCustomLink">Bitcoin, Ethereum, and others are half-way down from their record highs, but investors are still better off than they were a year ago</a>

Opinion: Social media is not just for hustlers anymore

<ul><li>Taiwanese company <keyword id="16129" type="ORGANIZATION" weightage="20" keywordseo="HTC">HTC</keyword> announced a new phone, based on <keyword id="6355684" type="PERSON" weightage="20" keywordseo="Blockchain">blockchain</keyword> technology.</li><li>The new phone will apparently be called Exodus. </li><li>The company wants to support the entire blockchain ecosystem through its new projects led by <keyword id="6532160" type="PERSON" weightage="20" keywordseo="phil-chen">Phil Chen</keyword>.</li></ul>Smartphone manufacturer, HTC, is planning to launch a blockchain-based phone in the upcoming months, <a href="https://thenextweb.com/hardfork/2018/05/15/htc-blockchain-powered-phone/">according to recent reports</a>. The Android-powered smartphone is still under development and will apparently be named “Exodus”. The phone is being designed especially for cryptocurrency and decentralised apps (D-app) users. D-Apps are open sourced applications used for cryptocurrency related activities. The smartphone will feature a Universal wallet and a built-in secure hardware enclave to support cryptocurrencies and decentralized applications. The company’s blockchain smartphone project is being led by Phil <keyword id="296675" type="PERSON" weightage="20" keywordseo="Chen">Chen</keyword>, the man behind HTC’s Vive VR headset. Chen will also be leading future efforts around this device. In order to facilitate cryptocurrency trading among the Exodus phone users, HTC plans to create a native blockchain network with all the new phones acting as nodes. Chen said that company would like to support the entire blockchain ecosystem and also, will be announcing many more partnerships in the upcoming months. HTC might even accept cryptocurrency as payment for the phone, but the price is still to be decided. That said, we don’t yet have word on how much HTC will sell this smartphone at. A startup called <keyword id="3337110" type="ORGANIZATION" weightage="20" keywordseo="Sirin-Labs">Sirin Labs</keyword> had announced a blockchain smartphone in September last year. While that phone is expected to arrive in October 2018, it had been priced at $1000, which may give us an inkling to what HTC may charge for its device. Using the blockchain theoretically allows HTC to make the Exodus more secure than regular devices. Although the features offered by Exodus can be integrated into an average smartphone with the help of software. We have to wait for one of these blockchain phones to be available in the market to see if they offer any improvements in the user experience of browsing through the decentralized web and cryptocurrency trading, over a regular smartphone.

A prominent smartphone maker is building a blockchain-based smartphone

Brown Brothers Harriman &amp; Co.Mike McGovern, head head of Investor Services Fintech Offerings at Brown Brothers Harrison.Cryptocurrencies have been red-hot lately. The price of <a href="http://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> and an ether token, for instance, have been on a tear and are up 121% and 490%, respectively, since April 6.Ether tokens and bitcoin are built on a technology called blockchain. That's a kind of digital ledger that records and verifies transactions made on it. Ether tokens, which are built on ethereum blockchain, are newer to the crypto-scene than bitcoins, which can trace their origins back to 2009.Mike McGovern, the new head of Investor Services Fintech Offerings at Brown Brothers Harriman &amp; Co, one of the oldest private banks in the US, thinks one blockchain is clearly superior."When looking at bitcoin blockchain versus ethereum, there's no doubt ethereum is superior," McGovern told Business Insider in a recent phone interview.Brown Brothers Harriman has been working on blockchain for five years, according to McGovern. It started with an R&amp;D center in Krakow, Poland. One reason why McGovern thinks Ethereum is better is because its cheaper. "It doesn't cost as much to mine ether tokens, because it requires less electricity than bitcoin," he said.McGovern's second reason relates to the original purpose of the two blockchains that power the currencies.Bitcoin was designed to be a currency from the start. Vitalik Buterin, a Russian native and young programmer, however, founded Ethereum as a platform on which two parties could enter into a contract without a third party, according to Paul McNeal, a Bitcoin evangelist and long-time cryptocurrency investor.These so-called smart contracts create trust between two parties. The ethereum platform is <a href="http://www.huffingtonpost.com/ameer-rosic-/ethereum-vs-bitcoin-whats_b_13735404.html">powered by ether tokens</a> and can be used as both a currency and can "represent virtual shares, assets, proof of membership, and more." "Ethereum is not only cheaper than bitcoin, it is also more robust and has more applications outside of simply financial transactions," McGovern said. Here's a handy explanation from Nathaniel Popper, a New York Times reporter and author of <a href="https://www.amazon.com/Digital-Gold-Bitcoin-Millionaires-Reinvent/dp/006236250X/ref=sr_1_1?ie=UTF8&amp;qid=1499440938&amp;sr=8-1&amp;keywords=nathaniel+popper">Digital Gold:</a><a href="https://www.amazon.com/Digital-Gold-Bitcoin-Millionaires-Reinvent/dp/006236250X/ref=sr_1_1?ie=UTF8&amp;qid=1499440938&amp;sr=8-1&amp;keywords=nathaniel+popper"> Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money</a>:"Ethereum was designed to do much more than just serve as a digital money. The network of computers hooked into Ethereum can be harnessed to do computational work, essentially making it possible to run computer programs on the network, or what are referred to as decentralized applications, or Dapps. This has led to an enormous community of programmers working on the software."McGovern isn't the only person who is more bullish on Ethereum. A <a href="http://www.coindesk.com/charts-enthusiasm-ethereum-hit-time-high-q1/">survey recently cited by Popper in The New York Times</a> indicates that a lot of business are singing the same tune. Almost 94% of surveyed firms said they feel positive about the state of ether tokens. Only 49% of firms surveyed had a positive feeling about bitcoin. MGT Capital, the company run by John McAfee, is one such firm. It said it would start to <a href="http://ir.stockpr.com/mgtci/company-news/detail/907/mgt-capital-launches-pilot-program-to-mine-ethereum">mine Ethereum</a> in its latest bid to turn a profit. "We are more convinced each day of the growth and value of digital currencies, and our company is uniquely positioned to be a leading provider of processing power to relevant blockchains," McAfee said in a statement. Get the latest Bitcoin price<a href="http://markets.businessinsider.com/currencies/BTC-USD"> here.</a> <h3>NOW WATCH: <a href="http://www.businessinsider.com/you-can-expect-a-major-department-store-to-fail-in-the-next-18-months-ryan-preclaw-2017-6">Barclays strategist: You can expect a major department store to fail in the next 18 months</a></h3> Please enable Javascript to watch this video

You Searched For "what is dapp" and got 13 results

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Cardano jumps on the metaverse bandwagon with Pavia — here’s everything you need to know about ADA’s entry into play-to-earn

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