Crypto Headlines Dec 3, 2021

  1.  Busting myths about blockchain, NFTs, and play-and-earn monetization for game

There are a lot of misconceptions, misunderstandings, and myths around blockchain, NFTs, and as a result, play-and-earn game monetization. Blockchain and NFTs are terrible for the environment is the single most widely believed myth about Blockchain and NFTs and stems from the first two blockchains which were widely adopted, Bitcoin and Ethereum. It would be easier and better to create real money trading systems in-game myth is espoused by people (especially gamers) who do not understand all the elements involved in implementing a real money marketplace.

Ethereum whales have accumulated $3.3 billion worth of ETH tokens over the last two weeks, fueling a price rally. Ethereum is inching closer to the “merge,” or the transition from “proof-of-work” to “proof-of-stake,” and developers have invited the community to contribute. Ethereum is closest to its previous all-time high, awaiting a trigger to break into a price tally. FTX, the crypto derivatives exchange, has expanded its marketplace. The exchange now allows users to buy, sell and display Ethereum NFTs on its platform.

You’re probably familiar with Ethereum (CRYPTO:ETH). It’s the world’s second most-valuable cryptocurrency. The price swings aren’t for the timid — or impatient — but the popular token has rewarded investors so far. As of early Thursday evening, Ethereum is up 5%, 6%, and 676% over the past week, month, and year, respectively. Bears will argue that the past is tainted by survivorship bias, and I’ll accept some validity to the claim. Ethereum is popular now because it has soared in the past. I get it. However, it still doesn’t take away from the digital-currency’s success.

In crypto, one step forward is the introduction of nonfungible tokens, or NFTs. Finally, something that everyone — including your non-tech or finance friends — can get their teeth into and understand. So NFTs are mainstream. Noobs still get hung up on the Beeple sale ($69 million at Christie’s in March) much in the same way the OGs regard the eye-watering 2017 Tezos ICO that raised $232 million or BlockOne’s epic twelve-month raise of $4 billion the following year. These are the milestones when the money gets silly and crypto gets onto the mainstream news feeds. 

Art museums have faced substantial financial shortfalls accelerated by a decline in visitors and donations, courtesy of COVID-19. Many have considered taking drastic measures, such as selling treasured artworks, to plug budget gaps. More multimillion-dollar sales of these digital assets, which exist on a blockchain and are maintained on networked computers, soon followed. Yet, more than six months into this disruption of the art world, museums have generally engaged very little with NFTs. As researchers who examine both the finances of nonprofit organizations and the growth in NFTs, crypto-assets, and other associated blockchain applications, we see four primary reasons why museums have yet to turn the NFT craze into a financial windfall.

It remains a mystery whether Nakamoto, who introduced that nascent technology to financial markets, is actually a person or a group of people. Bitcoin and blockchain are a chicken and egg enigma. Only he or they know if Bitcoin came first or if it was blockchain that gave birth to the world’s first cryptocurrency. Such terms as the metaverse, NFTs, and even cryptocurrencies are new. Fintech is the future, but it remains a topic of heated controversy. Cryptocurrencies challenge the status quo, including controlling the money supply by governments and the position of traditional banks and financial institutions.

Hype over the untapped value of the “metaverse” sent tokens such as Sandbox’s SAND, Decentraland’s MANA and others to all-time highs in November amid surging interest from cryptocurrency traders and Wall Street alike. The price rallies followed Facebook’s announcement in October that it would rebrand as Meta, with a new mission that aims to “bring the metaverse to life.” The metaverse is a digital world combining elements of augmented and virtual reality, the internet, gaming, art, culture and social networking. The Sandbox, an Ethereum-based virtual gaming platform, saw its SAND token jump from $1.55 to $6.79 in November, an increase of about 350%.

The Australian Federal Government is working on legislation to regulate the booming crypto market. This year has seen Australian institutions and retail investors increasingly open to crypto investment and transactions. November also saw the launch of the first ASX listed crypto exchange-traded fund (ETF), which broke records for a new fund on its first day. While the BetaShares Crypto Innovators ETF (ASX: CRYP) doesn’t invest directly in any cryptocurrencies, it does offer ASX investors exposure to the crypto-sphere by tracking the performance of up to 50 crypto-related companies. 

GameOn Entertainment Technologies Inc. (CSE: GET) (OTCQB: GMETF), a leading game technology provider to media, sports and entertainment companies, is pleased today to announce a strategic partnership with Polygon ($MATIC) & Polygon Studios to build NFT-Based games on their Ethereum-based scaling platform. The deal will see Polygon Studios provide non-dilutive funding for 50% of GameOn’s ongoing product development costs. The Polygon blockchain boasts investors that include Mark Cuban, Kevin O’Leary and many other high-profile investors.


Solana is an open-source blockchain platform that specializes in smart contract functionality and also hosts decentralized applications (DApps). Solana’s price was at US$1.51 at the beginning of the year with a total market capitalization of US$86 million. Although many cryptocurrencies recorded mind-blowing performances in 2021, not all of them managed to steal the stage as Solana did. Launched in 2020, SOL has emerged as a so-called ‘Ethereum Killer’ just months after its inception. However, its 16,000% surge since the beginning of 2021 is what left investors in awe. After gaining its name among Defi, NFT, and gaming sectors and more institutional investors, Solana price is all set to go after its next resistance, US$300.