Everything web3, crypto, defi, degen
In brief Digital asset treasury companies face shrinking market-to-net asset value (mNAV) ratios. BitMine and SharpLink Gaming have seen their mNAV fall below 1.0, to 0.99 and 0.89 respectively. The mNAV erosion threatens DATs’ ability to raise capital through at-the-market equity programs, forcing painful share dilution and stalling capital raises, analysts said. As Ethereum claws…
In brief Protage Biotech is rebranding as AlphaTON Capital and developing a new digital asset treasury focused on Toncoin (TON). The biotech firm will keep its existing business, but build its treasury starting with $100 million in TON. Shares were up earlier before finishing slightly down. The firm will adopt the ATON ticker starting Thursday.…
In brief Renewed interest in tokenized Pokémon cards is being driven by a cryptocurrency’s debut. The Solana-based project adds a new dimension to their on-chain presence. Physically-backed Pokémon card NFTs have primarily existed on Polygon. Tokenized Pokémon cards are seeing renewed interest lately, partly due to the recent debut of a token for a Solana-based…
In brief An AI-generated clothing model on Shein’s site bore an uncanny resemblance to alleged murderer Luigi Mangione, confirmed by facial recognition tools. The shirt sold out before Shein pulled the listing, blaming a third-party vendor for the fiasco. The incident adds to a growing list of AI-generated ad disasters, from deepfake influencers to celebrity…
In brief There are many free-to-play games that pay players real Bitcoin rewards. You’ll typically earn amounts in satoshis, or the smallest denomination of Bitcoin (1/100,000,000 BTC). Such games are often loaded with video ads, but that’s the trade-off for earning Bitcoin. Bitcoin pushed to yet another all-time high price mark in August, maintaining recent…
In brief BitMine Immersion Technologies recently purchased 153,000 Ethereum. It now owns roughly 1.5% of the asset’s supply, with its stash valued above $8 billion. Ethereum is having a “1971 moment,” Tom Lee said. BitMine Immersion Technologies recently purchased 153,000 Ethereum, taking a $655 million step toward its goal of owning 5% of the asset’s…
In brief SharpLink Gaming bought even more Ethereum last week, adding $176 million in ETH to its treasury. The Nasdaq-listed firm pivoted its focus in May to accumulating ETH. Ethereum hit a new all-time high price in August as a number of companies buy the asset. Ethereum treasury SharpLink Gaming added over $176 million in…
In brief Blockchain games are coming to the XRP Ledger thanks to an expansion of B3’s gaming ecosystem. It will begin with five hyper-casual testnet games designed to be played by anyone, anywhere. Ultimately, the goal is to bring more users to the XRP Ledger and add utility to the Ripple-linked asset, XRP. Crypto gaming…
Fans have been eagerly awaiting the arrival of the new entry in their favorite franchise for years, and it’s finally here. With Grand Theft Auto delayed into next year, that can only mean one thing: Hollow Knight: Silksong is coming, and it’s coming in just a few days. For those who have been patient, this news is…
In brief Pudgy Penguins and Mythical Games collaborated to develop Pudgy Party, a new Web3 mobile game. The game falls in the party genre, offering fast-paced mini-games for players similar to Fall Guys or Stumble Guys. Pudgy Penguins CEO Luca Netz has high expectations, aiming for tens of millions of downloads. Ethereum NFT brand Pudgy…
