Asiastar Entertainment and Codus to Develop Casual P2E Game with NFT Rewards

NADA Protocol, a blockchain content platform and operator of the Play-to-Earn (P2E) NFT game Slime World, has forged a global investment partnership with IT investment firm Algorithm X, according to an article published by South Korean online news site Interview 365.Photo by Chris Liverani on UnsplashStrategic alliance"Through this partnership with AIgorithm X, we will accelerate our efforts to attract global investments. Also, by leveraging Algorithm X's infrastructure, we will expand our presence in the global market and create more partnerships with various companies in the future," NADA Protocol explained. Revolutionizing the blockchain industryNADA Protocol is a platform specializing in the production of blockchain content. It is most known for Slime World, which runs on the NADA Protocol Token – a Hedera-based reward token that is currently priced at approximately $0.03 on CoinMarketCap. The game surpassed one million global downloads in less than a month after the release of the updated version.  Meanwhile, Algorithm X is a company led by a group of financial experts from JPMorgan and professionals in the blockchain industry that manages global digital assets through proprietary trading. The company specializes in discovering and fostering promising projects and companies through global investment consultations and marketing campaigns.

South Korean blockchain solutions provider Seoul Labs has released SLUSH, an innovative launchpad built on its SASEUL blockchain designed to streamline and enhance the Web3 experience, according to a post on CoinMarketCap on Tuesday (KST).Photo by Shubham's Web3 on UnsplashPromoting sustainable ecosystem growthSeoul Labs explained that SLUSH is a solution to the setbacks of existing Web3 services and the difficulties that come with providing a comprehensive experience. As a hub within the SASEUL ecosystem, the launchpad allows users to access and manage a variety of services on a single platform. It will also serve as a medium for finding and supporting groundbreaking Web3 projects, offering safe and attractive investment opportunities in response to the current challenges posed by limited investment options and instabilities in digital asset trading. With a focus on long-term growth, SLUSH is designed to present users with tangible projects within the SASEUL ecosystem. Token sale successSLUSH is already off to a strong start, selling out one million SL tokens – Seoul Labs’ native token – in just 3 hours during its first pre-sale round on Jan. 16 and demonstrating investors’ interest in the service. The next round opened yesterday at an exchange rate of 1 SL to 0.1 USDT. Although the results have not been disclosed yet, if the second round also yields one million sold tokens, Seoul Labs will initiate a third. These pre-sales are expected to pave the way for onboarding various Web3 products and services onto the launchpad. The Seoul Labs team emphasized its commitment to funding blockchain projects, particularly dApps and Web3 projects, on SASEUL, thereby expediting their entry into the market. As the ecosystem’s growth accelerates, the team also plans to implement features like token swaps, NFTs and more.

While many people assumed that Bitcoin hashrate had moved overseas once China implemented a Bitcoin mining ban in 2021, miners within mainland China still dominate the activity. 55% of hashrateThat’s according to a report on X by Ki Young Ju, the founder and CEO of crypto data analytics firm CryptoQuant. Taking to the social media platform on September 23, the CryptoQuant CEO claimed that Chinese mining pools account for 55% of all Bitcoin mining activity.  Since the 2021 ban, an increasing proportion of hashrate has been accounted for elsewhere, including the United States. Ju clarifies that U.S.-based mining pools now account for 40% of Bitcoin hashrate. He added:”U.S. pools primarily cater to institutional miners in America, while Chinese pools support relatively smaller miners in Asia.”Photo by Joshua Sortino on UnsplashShift towards U.S.-based miningWhile the majority of Bitcoin mining is accounted for within China’s borders, Ju acknowledges a growing shift towards U.S.-based mining. Some commentators have speculated that while officially a ban was put in place, in reality the ban presented an opportunity to jettison inefficient mining equipment, selling it on overseas, while maintaining only the most efficient miners within China. Others such as Daniel Batten, an advisor to Nasdaq-listed Bitcoin miner Marathon Digital, went further in suggesting that the reporting of a blanket ban on Bitcoin mining within China was misleading. Instead, he believes that mining was suspended for a time and then rebooted. Taking to X in June, Batten wrote: “Stop referring to it as a ban. It wasn't and it plays into [mainstream media] narratives of Bitcoin mining being unwelcome by nation states.” At the time, rather than Ju’s 55%, Batten estimated that 15% of overall hashrate was accounted for by Chinese miners. Profitability challengesIn the months following the halving of the Bitcoin mining reward, miners have been struggling to maintain profitability. Bitbo data indicates that miner revenue weighed in at $827.56 million in August, representing a 10.5% drop when compared with $927.35 million in July. The situation has raised questions about the ongoing sustainability of securing the Bitcoin network via the current mining model.  Yet despite these adverse conditions, miners have been maintaining the high hashrate level. JPMorgan analysts recently indicated that the Bitcoin hashrate has recovered to pre-halving levels. A report by Decrypt earlier this month claimed that some miners are aggressively purchasing new mining equipment while maintaining significant holdings of Bitcoin rather than selling it off. Alongside what was perceived to be a ban on Bitcoin mining in 2021, China prohibited the trading of cryptocurrencies. Notwithstanding that, it’s thought that many Chinese residents have access to crypto via bank accounts in Hong Kong, connected with global crypto exchanges. Hong Kong is perceived to be China’s sandbox for crypto with many speculating that the current pro-crypto stance taken within the Chinese autonomous territory had been approved by the authorities in mainland China. Whether China will lift its ban on crypto trading remains the subject of ongoing speculation.