Because the shock from the current crashes of TerraUSD (UST) and Terra (LUNA) remains to be being felt, the present crypto market ambiance appears to be decided by concern greater than greed. The notoriously unstable market is as soon as once more being examined; even Tether (USDT), the stablecoin with the largest market capitalization, has been shaken.
Some argue the autumn of UST and LUNA was predictable. Anchor Protocol (ANC) promised a whopping APR of practically 20% for staking UST and was the primary attraction of the 2 cryptocurrencies. Apart from supporting one another’s costs, the aim and use case of the 2 property had been obscure, at finest.
This can be one other difficult time for crypto. Nonetheless, some cryptocurrencies are weathering the scenario higher than others. Take Wemix (WEMIX), for instance, a cryptocurrency designed by the South Korean gaming firm Wemade. The Wemix platform is the biggest and arguably the very best blockchain-gaming platform worldwide. On the time of writing, 11 video games are being serviced on Wemade, and that quantity will attain 100 by the tip of 2022. If one appears to be like on the platform’s present tempo, one will see it’s effectively according to the deliberate schedule.
Wemade’s play-and-earn (PaE) characteristic — the place avid gamers can earn assets and convert them to fiat through Wemix — guarantees greater than commonplace player-to-earn (P2E), which typically forces gamers to play simply to earn crypto property.
There was a myriad of commercially profitable pay-to-win video games. Wemix doesn’t assure earnings with its PaE video games — quite the opposite, gamers might find yourself spending cash fortunately and voluntarily. Nonetheless, they may benefit from the expertise, because the Wemix token can be utilized in all video games on the platform.
Wemix and different notable PaE cash are completely different from peculiar cash available on the market and serve a novel goal: Wemix Tokens will be exchanged for sport tokens to buy in-game gadgets. They’re additionally used for buying and selling nonfungible token (NFT) sport characters and gadgets. Whereas most tokens available in the market are for particular person funding functions, Wemix can both be an funding or used in-game. For the reason that Wemix platform has video games of all genres, anybody can discover a style they like.
The heads of Wemade are placing their cash the place their mouths are — fairly actually.
Henry Chang, CEO of Wemade, introduced in April he would spend his complete wage and dividends on Wemix tokens. Kwanho Park, chairman and founding father of Wemade, is dedicating roughly 30 billion Korean received ($23.66 million) to purchase market tokens throughout the subsequent six months.
Skepticism about cryptocurrency nonetheless persists, however tokens with a practical use case will frighten folks much less.
About Wemade
Wemade is a pioneer in-game improvement platform based mostly in Korea. Its focus is ever-shifting towards the metaverse and blockchain — e.g., NFTs and decentralized finance — know-how with an emphasis on personalizing the gaming expertise. Wemade strives to remodel on a regular basis video games with blockchain know-how and set up its Wemix token as a key gaming-industry forex.
About Wemix
Wemix is a number one international blockchain-gaming platform based mostly on the important thing cryptocurrency, also referred to as Wemix. The platform presents PaE, a brand new paradigm the place gamers can take pleasure in polished video games whereas additionally incomes assets.
For extra updates and information, go to WemixNetwork.Medium.com.
This can be a paid press launch. Cointelegraph doesn’t endorse and isn’t chargeable for or responsible for any content material, accuracy, high quality, promoting, merchandise, or different supplies on this web page. Readers ought to do their very own analysis earlier than taking any actions associated to the corporate. Cointelegraph shouldn’t be accountable, immediately or not directly, for any harm or loss triggered or alleged to be brought on by or in reference to using or reliance on any content material, items, or providers talked about within the press launch.
Supply hyperlink
