Travel booking startup targets Bitcoin investors with cashback offer

Indian Railways (IR), the state-owned manager of India’s railway network, plans to issue non-fungible token (NFT)-based train tickets to transport pilgrims to Maha Kumbh Mela, the world’s largest religious festival. The Hindu festival is of particular significance given that it only occurs once every 144 years. ChainCode Consulting partnership According to a report published by Indian news outlet Pune.news on Jan. 13, IR has collaborated with ChainCode Consulting, a Bangalore-headquartered enterprise blockchain development and consulting firm, to provide the digital tickets. The Polygon blockchain has been chosen as the network upon which the NFT tickets will be minted. The tickets will then be made available to end users via NFTtrace, a real-world assets (RWA) tokenization and traceability platform run by ChainCode Consulting.Photo by Choong Deng Xiang on UnsplashLong-running collaborationService users and railway personnel will be free to check the validity of tickets on the public blockchain. This announcement is just the latest installment of a long-running collaboration between ChainCode Consulting and IR. In March 2024, a similar project was pursued by both parties. On that occasion, the collaboration involved the release of a series of NFT tickets for use on a train line running from Lucknow, the capital of the Indian state of Uttar Pradesh, to the Indian capital, New Delhi.  In that instance, NFTs were minted on the Hyperledger blockchain. A previous collaboration, earlier in 2024, saw NFTs minted on Polygon for digital tickets covering journeys to the sacred Hindu city of Ayodhya. Commenting on the choice of Polygon relative to this latest collaboration, Alok Gupta, CEO of ChainCode Consulting, stated: “By partnering with IRCTC and leveraging the Polygon blockchain, we are enabling a digital-first experience that complements the spiritual and traditional significance of the Mahakumbh while introducing a new level of engagement through NFTs.” Polygon is an Ethereum ecosystem scaling network. With that, it has fast throughput and low gas fees and it's on this basis that it’s understood that Polygon was chosen in this instance. Aishwary Gupta, global head of payment and fintech at Polygon Labs, the key developer behind the Polygon blockchain, told Cointelegraph that public blockchains are playing an important role in doing away with middlemen and intermediaries.  The Polygon Labs executive stated that at both state and central government levels in India, Polygon has been used on a number of projects. He added: ”With its low cost and high throughput, we are sure that the NFTs being issued around Maha Kumbh Mela would be yet another great success.” $94 billion market opportunityTicketing remains one of the proposed use cases for blockchain technology that has the potential to gain traction. That potential hasn’t gone unnoticed by ticketing industry leader Ticketmaster. In 2023 the company rolled out token-gated ticket sales. The feature enables artists to reward fans who hold NFTs with access to exclusive pre-sale events, prime concert seating and many other incentives and rewards. NFT technology offers a solution to a number of issues experienced within the events industry, including ticket scalping, fake tickets and security issues. The live events business is a $94 billion industry, underscoring the opportunity available to be exploited by innovative NFT-based ticketing startups. 

Mobile Strategy Game ‘EF Defense’ to Launch on Immutable zkEVMWeracle, the Singapore-based developer behind the popular mobile game Endless Frontier, is gearing up to deploy its latest creation, EF Defense, on the Ethereum scaling network, Immutable zkEVM.The tower defense strategy game, currently available on iOS and Android, will receive a significant boost with this move, opening up new opportunities for players and integrating blockchain technology into its gameplay.Photo by Catherine Kay Greenup on UnsplashPlay-to-earn gameEF Defense, a play-to-earn game with stunning visual aesthetics similar to Endless Frontier, transports players to the Land of Abundance, where they must fend off a dark and menacing force threatening the continent of Akaros. Armed with 70 diverse heroes and an array of customization options, players will embark on an epic quest to protect their territory and claim rewards for their strategic prowess.Immutable, a prominent Web3 games publisher headquartered in Australia, is partnering with Weracle to facilitate this transition. The move to the Ethereum scaling network brings the potential for even greater in-game experiences, enhanced security, and unique ownership opportunities through non-fungible tokens (NFTs). While EF Defense already offers hero characters as NFTs on the Ethereum scaling network Polygon, the specific utilization of NFTs and tokens on Immutable zkEVM remains undisclosed.The gaming industry veterans behind MagmaByte have also caught the NFT wave with their upcoming release, Galaxy Commanders. This player-versus-player (PvP) space shooter, developed by former talents from major gaming companies like Electronic Arts (EA), NCSoft, and Nexon, will utilize the Immutable zkEVM network for its launch. Players can expect action-packed space battles and cooperative planetary conquests, utilizing various strategies to claim victory.Based on PolygonImmutable zkEVM is based on Polygon’s zkEVM technology, a layer-2 Ethereum scaling network specially designed for gaming. This integration promises faster and more cost-effective transactions compared to the Ethereum mainnet, ensuring a seamless and enjoyable gaming experience. To cater to gamers new to Web3, Immutable is also working on developing the Passport, a user-friendly wallet to facilitate easy interactions with blockchain-based games.Weracle’s involvement with blockchain gaming through EF Defense is likely to be just a starting point. The studio has ambitious plans to launch more crypto games in the future, cementing its position in the evolving landscape of blockchain-based gaming. Additionally, a digital Weracle Wallet is in the works, intending to create a holistic ecosystem for players and collectors alike.Andrew Sorokovsky, VP Of Global Business Development at Immutable, expressed enthusiasm for Weracle’s transition into Web3 gaming, acknowledging the team’s expertise in the traditional gaming space and predicting significant strides in the realm of blockchain-based entertainment.As EF Defense prepares to enter the world of Immutable zkEVM, players can look forward to an enhanced gaming experience with the added benefits of blockchain technology.The integration of NFTs and the prospect of play-to-earn mechanics has the potential to make a far bigger impact, provided the correct balance is struck between engaging gameplay and the play-to-earn model dynamic.

Bybit Leans on Innovative Tech by Launching AI-Powered Trading AssistantDubai-headquartered cryptocurrency exchange Bybit has introduced TradeGPT, an AI-powered educational tool aimed at changing the way in which traders interact with the cryptocurrency market.A ToolsGPT follow-upThe move follows on from the firm’s launch of ToolsGPT in June, an AI-based tool that aids platform users to generate technical analysis and takes a ChatGPT-like approach in providing responses to user queries. Vivien Fang, Head of Financial Products at Bybit, explained: “Our analysts and tech team created ToolsGPT to provide the financial education and mentorship that is sorely needed in our hyper-financialized world. Essentially, we built the tool that we all wished we had when we began our careers in financial engineering and trading.”Photo by Wance Paleri on UnsplashAI mentor and guideFor Bybit users, TradeGPT offers a multitude of benefits, including real-time market analysis, multilingual support, and personalized guidance. It functions as a mentor and guide, empowering users to comprehend market trends, formulate strategies, and select the most suitable investment products to achieve their financial goals.This offering addresses the limitations of traditional AI systems and provides real-time market data. TradeGPT leverages Bybit’s extensive market data, trading analytics, and technical analysis tools, making it a resource for traders navigating the complexities of the cryptocurrency landscape.Following industry trendBybit’s TradeGPT follows in the footsteps of Singapore-based platform Crypto.com, which unveiled its AI-enabled platform, Amy, in May. Amy leverages the technology of OpenAI’s ChatGPT to deliver real-time information about specific tokens, projects, price listings, and historical events to Crypto.com platform users.At the time Kris Marszalek, CEO of Crypto.com, highlighted the platform’s significance, stating: “Amy is the latest example of our incredible momentum.” The company added that it followed a series of notable product launches, including CFTC-regulated options trading, on-chain staking solutions, and the GEN 3.0 Crypto.com Exchange.Binance, the world’s largest cryptocurrency exchange by trading volume, introduced Binance Sensei in April. The company has integrated the AI-powered learning tool into Binance Academy and offers users of all skill levels an interactive chat window for guidance.As an increasing number of cryptocurrency companies launch AI-enabled platforms, the synergy between AI and the industry becomes more apparent. AI’s data processing capabilities could address scalability issues and expedite transaction processing for cryptocurrencies.Conversely, cryptocurrencies could incentivize research and development in the field of AI. Tokenized economies may reward contributors to AI projects, fostering collaboration and innovation. Furthermore, cryptocurrency-enabled decentralized networks could provide secure and transparent platforms for exchanging AI-generated insights without the need for intermediaries.Digital assets are developing in real-time alongside other technologies. The introduction of Bybit’s TradeGPT, alongside Crypto.com’s Amy and Binance’s Sensei, offers a step forward in harnessing the power of AI to empower cryptocurrency traders. As these AI-driven tools continue to evolve and gain traction, they’re likely to reshape how individuals and institutions engage with the cryptocurrency market.