Web3 News

PlayFi, an AI-powered data network and blockchain tailored for the gaming industry, has announced new partnerships with four industry leaders. These partnerships aim to strengthen the gaming ecosystem through enhanced technology integrations.

Positioned at the intersection of gaming, web3, and AI, PlayFi will collaborate with Aethir, MultiversX, Squid, and Matter Labs. This reflects PlayFi’s commitment to advancing the gaming industry with cutting-edge blockchain solutions.

“We are thrilled to be working with industry leaders like Aethir, MultiversX, Squid, and MatterLabs on a shared mission to push the boundaries of what’s possible in gaming,” said Ben Beath, founder and CEO of PlayFi. “Together, we share a goal in creating a more interconnected, efficient, and immersive gaming ecosystem that will benefit developers and players alike.”

PlayFi aims to improve its web3 offerings by integrating advanced blockchain technology into the gaming ecosystem. This will enhance cross-chain interactions, improve data security and accessibility, and provide seamless, cost-efficient experiences for developers and gamers.

To optimize GPU cloud computing resource use and enhance technological capabilities across gaming and AI, PlayFi, and Aethir are collaborating to bring mass-market gaming to the blockchain. They aim to support a robust gaming ecosystem and enable developers to create seamless Web3 experiences on top of Web2 IP.

PlayFi has partnered with MultiversX to allow the MultiversX ecosystem to utilize the PlayBase network, the AI-driven core of the PlayFi ecosystem, to securely store data from blockchain-powered games and sovereign chains. PlayFi will collaborate with MultiversX to develop specialized oracles compatible with the MultiversX infrastructure, providing seamless access to the rich data of PlayBase.

Additionally, PlayFi and Squid have teamed up to enhance interactivity and accessibility within the PlayFi ecosystem. With this collaboration, users can easily swap tokens across different blockchains. PlayFi uSquid’sn seamlessly swap any token type through Squid’s innovative API and SDK integration, connecting diverse blockchain environments such as Ethereum, zkSync, and Polygon. This integration allows in-game items, rewards, and other digital assets to be won in one game and redeemed in another.

Furthermore, Matter LLabs’ ZK Stack is the powerful Layer-2 solution that powers PPlayFi’s PlayBase blockchain. By integrating ZK Stack, PlayFi benefits from ultra-low gas fees. It combines the efficiencies of ZK Rollups and Validiums, significantly reducing costs while increasing transaction throughput.

Binance’s recent announcement of surpassing 200 million users globally is a testament to the escalating worldwide interest in digital assets, particularly in the wake of the surging value of Bitcoin and other cryptocurrencies. This milestone signifies Binance’s growth and the global impact of the cryptocurrency industry.

Despite regulatory challenges in some areas, Binance continues to be a major player in the cryptocurrency industry, showing its resilience and ability to adapt. Binance’s journey to 200 million users has been characterized by strategic expansion and innovation.

A few years ago, the exchange had 100 million users, which has now doubled, indicating the rapid adoption of cryptocurrencies globally. Binance CEO Richard Teng expressed his excitement about this achievement, highlighting industry collaboration’s importance in driving further growth and innovation.

Binance has succeeded partly due to its proactive approach to supporting startups and promoting blockchain education. The exchange has played a crucial role in expanding the web3 ecosystem by nurturing new projects and offering educational resources, attracting more users to the platform, and contributing to the broader adoption of blockchain technology.

However, Binance has faced significant regulatory scrutiny in various jurisdictions. The United States regulators filed a lawsuit against Binance for allegedly offering trading services for unregistered securities, leading to a $4.3 billion settlement with the Department of Justice (DOJ) and the resignation of former CEO Changpeng Zhao.

The recent surge in Bitcoin’s price, which hit an all-time high of over $73,000, underscores the increasing popularity of blockchain and crypto assets. This price rally has been a significant driver of adoption, even encouraging critics to consider investing in cryptocurrencies. Additionally, the approval of spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC) has opened new investment opportunities for traditional financial institutions, further legitimizing the asset class.

The Web3 Finance Club, in collaboration with Request Finance, has released the results of a survey conducted with close to 900 web3 finance professionals.

This detailed report offers insights into compensation trends in the Web3 financial sector, providing essential data for finance professionals to compare compensation within their organizations and better understand whether they are being fairly remunerated.

According to the key findings, When comparing Web3 and Traditional Finance, it’s encouraging to note that professionals in Web3 finance roles earn an average of 27% more than their counterparts in traditional finance. Some roles, such as accountants, can earn up to 128% more, illustrating the potential for growth in this sector.

While the prevalence of remote work, with 92% of respondents working remotely, reflects the modern and flexible nature of Web3 roles, it’s important to address the gender pay gap. Women in the sector earn 46% less than men on average, a significant disparity. However, the industry’s commitment to diversity and inclusion is evident, and recognizing and addressing this gap can lead to more positive changes in the future.

Nearly half of Web3 finance professionals receive some or all of their remuneration in cryptocurrencies, a sign of the industry’s forward-looking approach to compensation. While disparities exist in variable pay, diverse variable pay models and significant bonuses reaching 50% or more of the base salary can be advantageous for individuals in this sector.

Another notable aspect of the Web3 finance sector is the prevalence of equity compensation. A significant 63% of professionals receive equity as part of their compensation, a clear indication of the sector’s entrepreneurial and innovative culture. This unique aspect of the sector offers exciting opportunities for career growth and further underscores the appeal of Web3 finance roles.

Christophe Lassuyt, Founder of Web3 Finance Club and CEO of Request Finance, emphasized the report’s importance in fostering transparency and guiding the future of Web3 finance. “Our goal is to support businesses in adopting crypto by equipping finance leaders with crucial knowledge and tools,” said Lassuyt. “This report is instrumental in raising awareness about compensation trends and encouraging more professionals to explore the opportunities in Web3.”

MoonPay, a leading crypto infrastructure firm, has taken a significant step forward in its mission to revolutionize digital experiences for brands. In a groundbreaking move, the company has unveiled a dedicated platform for Web3 tools, marking a new era in digital engagement. 

The new platform is a game-changer, seamlessly integrating MoonPay’s existing services with innovative tools such as crypto payments, authentication, identity verification, ticketing, tokenization, and non-fungible token (NFT) minting. This comprehensive suite of services empowers brands to leverage Web3 solutions, creating highly interactive and personalized experiences for consumer engagement. 

For example, luxury brands like Louis Vuitton have integrated digital collectibles with physical products. Additionally, brands are developing loyalty programs by utilizing NFTs to offer ongoing benefits and rewards.

“Digital experiences are the future of consumer engagement,” said MoonPay co-founder and CEO Ivan Soto-Wright, commenting on the company’s focus on onboarding brands to Web3. “Brands need safety and simplicity to bring new commerce opportunities to market confidently.”

According to Markets and Markets, the customer loyalty and engagement market is estimated to reach $25.4 billion by 2029, with a compound annual growth rate (CAGR) of 17.3%. The rise of subscription-based business models across various industries has led to the adoption of loyalty programs targeting recurring revenue streams. 

MoonPay is a crypto unicorn backed by venture firms such as Tiger Global, Coatue, Blossom Capital, Thrive Capital, and Paradigm. The startup was launched in 2019 and focused on bridging fiat-to-crypto transactions with debit and credit cards. 

Companies already utilizing MoonPay solutions to enter the Web3 space include Adidas, Gucci, Puma, and Mastercard. The company designed a digital bidding and purchase experience with Gucci for its digital artwork program. At the same time, Puma used MoonPay to create digital twins of collections, allowing fans to purchase digital sneakers redeemable for physical pairs. On the other hand, Mastercard partnered with the crypto firm to build the ‘Pass to Priceless’ service, a unified platform combining digital assets for Mastercard customers.