Connect with us

News

Gaming giant Ubisoft takes its first steps towards bridging the gap between crypto and gamers

Arijit Sarkar

Published

on

Ubisoft may bridge the gap between crypto and gaming community
Credit: Amphibious Force SEVENTH Fleet

Although several non-financial industries have displayed interest toward crypto and blockchain technology, the technologies are yet to penetrate the business vertical with one of the highest global consumers, the gaming industry. In what seems to be one of the first advancements in the sector, the gaming giant Ubisoft, is going through with its first involvement with blockchain technology.

The news was revealed by a local French publication that detailed Ubisoft’s determination to identify the potential applications of blockchain in gaming. The article also confirms that Ubisoft’s team has already identified a suitable use case that can be put into practice.

The report read,

“The idea is to give a digital existence on the blockchain to the “items” (accessories) available in video games; content that publishers monetize and which constitute a manna more and more colossal for the actors of the sector.”

This particular advancement, driven by Ubisoft, is exciting as the company has decided to begin the project over the Ethereum blockchain. Currently, Ubisoft stands as one of the most influential companies across the globe, owing to Fortnite’s overwhelming success.

Taking hints from the gaming publisher’s business model, Ubisoft will most likely enable in-app or in-game purchases through the Ethereum network. However, there are no indications of leveraging any form of cryptocurrency for such purchases. Charles-Louis Planade, the video game financial analyst at Midcap Partners said,

“When you buy a costume on Fortnite, your investment is lost, the accessory is locked in the game. If we use the blockchain, we give a physical existence to a digital element.”

This development suggests that Ubisoft will take the same path in allowing players to keep the digital property of their accessories and ultimately, increase the commitment of its game players.





Subscribe to AMBCrypto’s Newsletter


Bitcoin

Bitcoin falls by over 5% in an hour as major correction ensues; altcoins follow suit

Namrata Shukla

Published

on

Source: Pixabay

Bitcoin [BTC], the largest cryptocurrency in the world, revisited its glorious highs over the past few weeks. However, it would seem that Bitcoin is falling back to earth since the coin was falling by 5.88% in an hour, at press time.

The coin while falling by 5.88% over the hour, was being traded at $12,251 on Bitstamp exchange. The market cap of the coin was reported to be $224 billion and the 24-hour trading volume was $41.813 billion. Over the past 24 hours, BTC fell by 9.55%, while noting a growth of 35.78% over the week.

Source: Trading view

Source: Trading view

The Bitcoin community was rooting for the coin to cross $14k and after the strong bullish momentum showcased by the coin, the target was not a far fetched one. However, the crash suddenly pulled its price below $13k. Twitter user, @aquinastheory, explained the trend,

“First MA/EMA cross to the downside since June 2nd and the time before May 4th. Either new distribution/accumulation is gonna occur here within the next few days, weeks or we’re going down for sure. #bitcoin $btc #crypto #forexsignals”

Source: Twitter

Source: Twitter

The coin was highly traded on Binance with BTC/USDT pair, reporting a trading volume of $1.881 billion. BW.com followed Binance, noting a volume of $1.686 billion with BTC/USDT pair. The third place was taken by Huobi Global with BTC/USDT pair, with the volume reported to be $1.578 billion.





Subscribe to AMBCrypto’s Newsletter


Continue Reading