Welcome to the 71st edition of ‘The Digital Asset Digest’. Today, we’re discussing the future of gaming and NFTs through Play-to-Earn and look at what the Bitcoin Lightning Network is.
“During the Wall Street’s SALT conference, the head of the investment firm Ark Invest, Cathie Wood, told CNBC that Bitcoin, in her view, is likely to increase tenfold within next five years and rise to over $500,000.”
Source: The Block
“A generative artist whose work depicts flowers within a “potentially infinite field of foliage” has made 1,623 ether (around $5.38 million) through a sale on Art Blocks, the non-fungible token (NFT) platform.”
“Walmart said it would be investigating the fake press release announcing a partnership with Litecoin, that briefly spiked the altcoin’s price.“
“Colombia’s government has chosen to fund a new app, board game and book to educate children and young people about investing in cryptocurrencies and the stock market.“
“Florida-based non-fungible token (NFT) platform Recur announced it has received backing from Steve Cohen, owner of Major League Baseball’s New York Mets, in its US$50 million series A funding round.”
INDUSTRY WIDE SNAPSHOT
Just a few years after Bitcoin was launched, it became clear that the cryptocurrency would face issues scaling to a wider audience. The underlying blockchain was designed with certain parameters that would be increasingly strained as more people adopted the technology. The solution was an added layer known as the Lightning Network.
Today, the Lightning Network plays an integral part in Bitcoin’s growing adoption, from the implementation in El Salvador to corporate adoption in Mexico. Here’s what you need to know about Bitcoin’s ultimate scaling solution.
EXPLORING NEW IDEAS
The next big thing in digital assets looks more like a toy than an investment opportunity. New online games seem to have fused the concept of non-fungible tokens (NFTs) and blockchain-based incentive schemes to create an experience that has the potential to be highly addictive.
Here’s a look at the emerging concept of play-to-earn and why this could be the future of gaming and blockchain technologies.
TOKEN OF THE WEEK
Tezos is a distributed blockchain project that seeks to enhance peer-to-peer transactions. It also serves as a platform that people use to execute smart contracts. Here’s a closer look at the token of the week.
THIS WEEK’S DEEP READ
“It goes without saying that the past 12 months have been an absolutely wild ride in the cryptocurrency industry in terms of price. This also makes it easy to forget that there’s a lot of work being done on the most popular networks to fuel this massive growth.”
And that’s all for this week! We released the third in our series on Metaverse implementations last week, and have the next edition coming this Friday. Download the reports now and stay up-to-date on all our future research.