Monthly Archives: February 2023

Testnet Ether Skyrockets 673%, Devs Propose New Plan

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• Goerli is a popular cross-client proof-of-authority testing network for Ethereum.
• Traders can send tokens from other chains to Goerli, using the testnet version of the actual ether.
• LayerZero developers have launched a cross-chain liquidity pool to enable devs to purchase testnet ether directly from Uniswap.

Goerli Testnet

Goerli is a popular cross-client proof-of-authority testing network for Ethereum which was established in March 2019. Tests are run on applications before their final deployment on the mainnet, and traders can also send tokens from other chains to Goerli using the testnet version of the actual ether—which has no real world value.

Distribution Method of GoETH

The distribution method for native ETH (GoETH) has been a major bone of contention since it is primarily in the hands of a few validator entities who distribute only a small amount of GoETH. The traditional approach uses services called faucets to gain testnet tokens, which is deemed inconvenient by many.

Cross-Chain Platform LayerZero

In response, a cross-chain platform LayerZero designed a way for Goerli’s testnet ether to be traded and swapped between the Ethereum mainnet and the testnet, allowing users to buy GoETH directly from decentralized exchange Uniswap.

Fluctuation in Price

While tokens on the testnets are designed to have no real world value, there has been significant fluctuation in its price recently due to increasing demand among developers and traders alike.

Critics’ Warnings

Critics have warned against this new approach of monetizing the native currency of an open source project like Ethereum as it could lead to centralization issues with regards its supply and distribution.

Sony Network, Astar Network Launch Web3 Incubation Program

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• Sony Network Communications and Astar Network have partnered to present a Web3 Incubation Program from mid-March to mid-June 2021.
• The program, which is open to people from all regions, will be focused on NFTs and DAOs.
• Startale Labs will also collaborate with both companies to introduce the event.

Sony Network & Astar Network Partner for Web3 Incubation Program

Sony Network Communications (a tech provider under the umbrella of the Sony Group) has partnered with Polkadot’s innovation hub – Astar Network – to present a Web3 Incubation Program. The program will run from mid-March to mid-June, as people can apply until March 6th, 2023. Startale Labs will also collaborate with both companies in introducing this event which focuses on NFTs and DAOs.

Open To All Regions

The Web3 Incubation Program is open to people from all regions across the globe. Venture capital firms such as Fenbushi Capital, Dragonfly, Alchemist Ventures and many more are part of this program and will provide educational sessions related to the utility of DAOs and NFTs.

Rich Experience In NFT Sector

Sota Watanabe – CEO of Astar Network – expressed his pleasure in participating alongside a company with rich experience in the NFT sector: “We hope to share the knowledge and resources of both organizations to provide value to the participants selected for the program and create new use cases and projects”.

Sony Networks Exploring Blockchain Field

Sony Network has already started exploring blockchain technology, raising hopes that this partnership would allow them offer applicable Web3 solutions for consumers.

Application Deadline: March 6th

Users willing to join can apply until March 6th, 2023 when applications close at 11:59 PM EST/EDT (New York Time). Once applications close, 10-15 users will be chosen after review by Sony Networks and Astar Networks teams.

Polkadot-Based GameFi Ajuna Raises $7M for Ecosystem Expansion

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• Polkadot-Based GameFi Ajuna Network has obtained $7 Million in funding to develop its network and suite of tools.
• The private round was led by Asian blockchain-focused venture capital (VC) firm CMCC Global, raising $5 million.
• The seed round was led by Animoca Brands, OKX Blockdream Ventures, Signum Capital, and Charlie Morris of CMCC Global.

Polkadot-Based GameFi Ajuna Network Raises $7M

Ajuna Network, a Polkadot-based decentralized gaming platform, has secured a total of $7 million in funding from industry investors through private and seed rounds. The raised funds will be used to enhance the network’s tools and gaming ecosystem.

Private Round Led By CMCC Global

The private funding round was led by Asian blockchain-focused venture capital (VC) firm CMCC Global for an amount of $5 million. Joining the list of investors backing Ajuna’s parent company BloGa Tech AG are Animoca Brands, OKX Blockdream Ventures, and Signum Capital. Commenting on the investment round, Founding Partner of CMCC Global Charlie Morris said: “We are thrilled to be leading this funding round into Ajuna. The platform empowers studios to incorporate immutable digital assets into their games, resulting in powerful new experiences for gamers.”

Seed Round Led By Animoca Brands

This month saw another seed round being announced with an additional amount of $2 million being raised. This around was led by Animoca Brands along with other investors such as Charlie Morris from CMCC Global and OKX Blockdream Ventures & Signum Capital all investing in BloGa Tech AG – parent company of Ajuna Network.

Goal To Enhance Gamer Experience Through Blockchain & NFTs

With the fresh influx in capital, Ajuna is looking to improve its platform by integrating better game engines and off-chain game operators with the aim to enhance gamers’ experience through blockchain technology & non-fungible tokens (NFTs).

Conclusion

Overall these investments in Ajuna show that there is a strong interest from investors for projects aimed at enhancing user experience through decentralization technologies such as blockchain & NFTs within gaming platforms/networks