DPK’s landslide win in general election stokes anticipation of spot Bitcoin ETFs approval in Korea

SKYPLAY Secures $10M from LDA Capital to Promote Growth of P2E GamingSKYPLAY, a blockchain gaming platform based in South Korea, has announced securing a $10 million commitment from American-based investment group LDA Capital, as stated in a press release. This funding will be utilized to launch additional games and attract new users, thereby accelerating the platform’s growth trajectory.Photo by blurrystock on UnsplashP2E gamesWith an active monthly user base of 300,000, SKYPLAY aims to expand its virtual space and motivate play-to-earn (P2E) gamers to contribute to the excitement within its ecosystem. P2E games enable players to earn cryptocurrency tokens as rewards for activities such as completing tasks and meeting goals.Various genresSKYPLAY is known for offering a diverse range of game genres, ranging from casual games like CoinGrid to strategy games like ClashRow. Users have the opportunity to earn in-game rewards that can be exchanged for SKP, the platform’s governance token. SKP will also serve as a medium of exchange in forthcoming NFT marketplaces. At present, SKP is listed on cryptocurrency exchanges ProBit Global and MEXC, according to CoinMarketCap.Expansion plansSKYPLAY currently provides its services in 170 countries worldwide, catering to a global gaming community. The company is also developing artificial intelligence-based (AI) avatars within a metaverse platform, with the target of exceeding 10 million users by the close of 2024.Anthony Romano, Managing Partner at LDA Capital Ltd, commented on this investment opportunity, stating, “SKYPLAY’s expansive ecosystem offers users a variety entertainment across sports, arts and crafts, appealing to the different preferences amongst the gaming community. This multifaceted approach, along with a forum-oriented community they’ve built is extremely difficult to replicate and gives them a leg up as they publish more games and diversify their entertainment offerings.”SKYPLAY CEO Richard Chang expressed his confidence in the partnership with LDA Capital. He said, “The investment from LDA Capital will serve as a significant driving force for the future growth of SKYPLAY. I am confident that together, we will pioneer the future and become invaluable partners in our journey of growth.”

BitMEX Returns to Derivatives Arena with Prediction MarketBitMEX, a name synonymous with the early days of crypto derivatives, has made a return to its core focus with the launch of a prediction market.Through this new product, the company aims to captivate traders by offering them the opportunity to wager on real-world events, effectively extending the boundaries of crypto derivatives trading.Photo by Amjith S on UnsplashBetting on the outcome of real-world eventsThis shift in direction is being overseen by Stephan Lutz who took the helm as CEO and group CFO in 2021.In a blog post announcing the product launch on Tuesday, the firm expressed its vision for the prediction market, asserting that it would introduce an entirely new dimension to crypto derivatives trading.The product is designed to diversify traders’ portfolios and yield returns based on predicting the outcomes of real-world occurrences, an offering that the company feels holds significant promise. Especially in bear markets characterized by subdued volatility, the prediction market could serve as a valuable instrument for traders seeking to enhance their strategies.Novel initial wagersBitMEX’s inaugural move into the prediction market sees the firm offer an array of contracts for traders to explore. Among those initial offerings are contracts enabling wagers on various outcomes, such as the percentage recovery rate of FTX’s bankruptcy claims and the likelihood of the US Securities and Exchange Commission (SEC) approving a Bitcoin exchange-traded fund (ETF) by October 17. These contracts underscore BitMEX’s intent in covering a wide spectrum of topics, with the firm promising to introduce more options in the near future.The prediction market holds the potential to revolutionize the way traders engage with real-world events, introducing a novel form of participation that transcends traditional trading boundaries. This launch has significant potential for BitMEX as it endeavors to reclaim its position in the competitive crypto derivatives market.Change of strategyUnder the stewardship of former CEO Alexander Höptner, BitMEX embarked on a diversification strategy termed “beyond derivatives,” delving into areas like spot trading and exploring new business avenues. However, the departure of Höptner in October ushered in a change in direction for the firm. The introduction of the prediction market now symbolizes BitMEX’s return to its foundational business model, with a renewed focus on derivatives.In May, the Seychelles-headquartered firm introduced perpetual contracts relative to SUI and PEPE tokens. Later that month, it launched a dedicated virtual asset service to Hong Kong-based customers. Hong Kong was its original center of operations when the company was first formed. It has since moved those operations to Singapore while maintaining its corporate presence in the Seychelles.BitMEX’s fresh foray into the derivatives space not only signifies a return to its roots but also presents traders with a means to trade relative to real-world events. By offering an eclectic range of contracts, the platform seeks to attract traders who crave more than conventional crypto trading. This strategic move could serve as a catalyst for BitMEX as it strives to regain its foothold in the competitive crypto sector.

Cartesi Launches Inaugural dApp on Ethereum MainnetSingapore-based Cartesi, the app-specific roll-up protocol with a virtual machine running Linux distributions, has introduced its inaugural dApp.The decentralized application, aptly named Honeypot, has been designed to serve as a platform for developers and ethical hackers to rigorously scrutinize the security of the Cartesi protocol’s underlying codebase, all in exchange for lucrative bounties.Photo by Michael Förtsch on UnsplashHoneypot deploymentAccording to a press release published on Tuesday, Honeypot is set to fulfill the vital role of stress-testing Cartesi’s foundational code on the Ethereum mainnet. The successful deployment of Honeypot will pave the way for Cartesi’s technology to be employed in a multitude of other dApps. Notably, a unique aspect of Honeypot is the tempting incentive it offers. The first individual to successfully hack it will be entitled to drain the sum of 1.77 million Cartesi tokens, equivalent to $220,000, after one year without any constraints.Embedded within the Honeypot dApp’s backend code is an algorithm that only permits the Cartesi Foundation’s depositor account to make fund withdrawals. Participants who dare to take on this code-breaking challenge must successfully navigate the intricacies of the algorithm to claim the reward.Developer Advocacy contributor to Cartesi, Gabriel Barros, stated: “We want to welcome all developers to test Cartesi’s Rollup infrastructure — but in a gamified challenge.”Aiding dApp developmentCartesi stands as a Layer 2 network specifically designed to streamline the development of intricate and powerful dApps. Its mission is to bridge the gap between conventional development practices and blockchain-based solutions, attempting to offer a seamless transition for developers.At its core, Cartesi introduces a mechanism that enables dApps to execute resource-intensive computations off-chain within a Linux environment. Crucially, these off-chain computations are verifiable by the blockchain, ensuring that the final results remain consistent across all nodes. This approach empowers developers to harness existing software and tools while ensuring compatibility with the blockchain.Linux insideThe choice of a Linux environment is pivotal to Cartesi’s framework. Linux enjoys widespread usage worldwide, particularly in server environments, making it a familiar and well-adopted platform. This familiarity extends to the extensive array of tools and libraries available within the Linux ecosystem, which are leveraged by developers for a myriad of traditional web applications.Gabriel Barros underlined Cartesi’s mission, stating:“Cartesi’s goal is to eliminate the limitations Web3 developers face by enabling them to import decades of familiar programming tools, libraries, and languages to the blockchain. By doing so, Cartesi unlocks a new realm of possibilities, allowing developers to surpass what was previously imaginable with earlier web3 applications.”Cartesi’s introduction of the Honeypot dApp on the Ethereum mainnet signifies a significant step towards ensuring the security and robustness of its protocol. Furthermore, it demonstrates Cartesi’s intentions in attempting to foster a vibrant and innovative ecosystem for developers in the blockchain space.