Tokenpost and PUNKPOLL launch open beta service for Web3 news polling service

BitMEX Co-Founder Forecasts $750K to $1 Million Bitcoin Price by 2026In a recent interview with YouTuber Tom Bilyeu, Arthur Hayes, Co-Founder of the Seychelles-registered cryptocurrency exchange and derivative trading platform BitMEX, has expressed his bullish outlook on Bitcoin’s future price, projecting a valuation of $750,000 to $1 million for the leading cryptocurrency by the year 2026.Photo by Kanchanara on UnsplashFinite supply to drive price dynamicHayes’ optimism is rooted in several factors that he believes will shape the next Bitcoin cycle. One of the key factors driving Hayes’ projection is Bitcoin’s limited supply. With a maximum cap of 21 million coins, Bitcoin’s scarcity is expected to propel the unit price of the asset in tandem with growing demand as more investors seek to secure a piece of this finite resource.The idea that Bitcoin’s scarcity will drive its value higher has been a fundamental tenet of the cryptocurrency since its inception. In 2010 the leading cryptocurrency’s pseudonymous Founder stated: “When someone tries to buy all the world’s supply of a scarce asset, the more they buy the higher the price goes.”ETF potentialHayes also highlighted the potential for Bitcoin spot exchange-traded funds (ETFs) to become available in major regulated markets. The introduction of Bitcoin ETFs could attract institutional investors and provide a more accessible way for the broader public to invest in Bitcoin, further boosting its demand.However, Hayes also speculates about the risks associated with a Bitcoin ETF. He stated: “Are we inviting in something that’s going to fundamentally change what Bitcoin is?”Geopolitical factorsGeopolitical uncertainty plays a significant role in Hayes’ forecast also. As global economic and political instability persists, investors may turn to Bitcoin and other alternative assets as hedges against traditional financial instruments.However, it’s important to note that Hayes contextualized his Bitcoin price prediction within a larger bullish macroeconomic environment. From his perspective the surge in asset prices will not be limited to cryptocurrencies alone. He anticipates a substantial boom in financial markets, with not only Bitcoin but also traditional assets like stocks experiencing substantial price growth.Hayes stated: “I think it will be the biggest boom in financial markets we have ever seen in human history. Bitcoin will have a ridiculous price, Nasdaq will have a ridiculous price, S&P will have a ridiculous price.”Known for his thoughtful and insightful writings on the subject area, Hayes wrote in July that he believes that Bitcoin will be the currency of choice when it comes to the growing need for artificial intelligence (AI) to work directly with a means of payment.$1 million BTC by 2026While Hayes’ projection of a $1 million Bitcoin price by 2026 may seem ambitious, his short-term predictions are more moderate. He foresees Bitcoin trading in the $30,000 range for the current year. Building upon that thesis, he maintains that the possibility exists of it reaching $70,000 by 2024.This aligns with the views of other industry analysts who anticipate challenges and headwinds in the near term. There’s little doubt that recent platform failures and speculation with regard to the health of other leading crypto platforms have been retarding market performance more recently.While the road ahead may hold fluctuations and challenges, many experts believe that Bitcoin’s long-term trajectory remains promising, driven by its unique attributes and the changing dynamics of global finance.

Param Labs, a modular gaming ecosystem, has announced the successful completion of a $7 million investment round, with Animoca Brands, a prominent crypto venture capital firm, leading the charge.Photo by Precondo CA on UnsplashOversubscribed funding roundJoining Hong Kong-headquartered Animoca Brands in this oversubscribed round were Delphi Ventures, Cypher Capital, P2 Ventures (formerly Polygon Ventures), Mechanism Capital, Merit Circle, TRGC Capital, Double Peak Group and MH Ventures. Anthony Anderson, CEO of Param Labs and Kiraverse, highlighted the significance of modular gaming ecosystems like Param in laying the groundwork for the next era of Web3 games. In an exchange with Cointelegraph, Anderson stated: “Unlike most Web3 studios that focus on developing single game titles, modular ecosystems offer a variety of products and components. This allows developers to build their own games from these modules and provides essential tools for other developers to utilize and integrate into their projects.” The timing of this funding round coincides with significant growth milestones for the Param Gaming Platform, which recently surpassed 300,000 daily active users. Additionally, the platform's X page boasts over 2.5 million followers, underscoring its growing popularity. Strategic investments from luminaries such as Yat Siu, co-founder of Animoca Labs, and Banks, founder of Face Clan, further underscore the potential of Param Labs, which is based in the United Arab Emirates (UAE), in realizing the vision of an open metaverse. In a statement published to the Animoca Brands website, Yat Siu expressed enthusiasm about the collaboration, stating: "This collaboration aligns with our shared vision to redefine the gaming landscape, ensuring that gamers are the true owners of their digital assets." Focusing on infrastructureThis injection of capital is poised to address a critical deficiency in the realm of Web3 gaming: the lack of foundational infrastructure. Addressing precisely that challenge which is hindering mainstream adoption, Anderson emphasized the pivotal role of infrastructure: “Focusing on infrastructure is crucial, as it not only addresses the challenges in the games we’re developing but also has the potential to be applied to hundreds, if not thousands, of other experiences. This will significantly contribute to the adoption of blockchain gaming.” The UAE-based company is currently working on producing a number of products. These include its Game Launcher and Pixel to Poly, an offering that converts 2D images into 3D assets within games. While those are in the product pipeline, it has already launched Kiraverse, an online multiplayer game where the gameplay incorporates players competing to earn digital assets.  Param Labs has also sought to broaden the technical expertise available to it, with the hiring of Steve Young, a former head of consumer products at renowned American video gaming firm Activision Blizzard. Young has come in as a strategic advisor at Param. The company plans to launch its native token, PARAM, shortly to enable governance of the ecosystem that it is putting together.

UAE Accelerates Cross-Border Payments with JPMorgan’s OnyxFirst Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), has ventured into the world of blockchain technology through a partnership with JPMorgan and its Onyx blockchain.Photo by Kamil Rogalinski on UnsplashFast tracking cross-border transactionsInternational financial transactions have long been afflicted by intricate procedures and snail-paced response times. These challenges have been particularly acute when it comes to cross-border payments. In response, FAB will utilize JPMorgan’s Coin Systems in order to expedite and streamline such cross-border payments.Powered by blockchain technology, JPMorgan’s Coin Systems advocates for swift transfers and settlements through a secure, distributed ledger. This collaboration between FAB and JPMorgan’s Onyx division was announced via a press release published on Tuesday (local time).The initiative represents FAB’s efforts towards leveraging cutting-edge technology, while improving and redefining the customer experience. While the initial testing phase was a success, it’s merely a prologue to FAB’s broader plans to utilize the technology for global transactional banking.With assets totaling AED 1.1 trillion ($312 billion) as of mid-2023 and laudable ratings from Moody’s, S&P, and Fitch, FAB maintains a significant presence in banking in the Middle East region.Onyx blockchainJPMorgan launched its Onyx blockchain in 2020 as a permissioned blockchain network. It is understood that the network processes daily transactions to the value of between $1 billion and $2 billion through partnerships established with banks in the Middle East, Europe, and India. Among the services offered by Onyx Digital Assets are tokenized US treasury bonds and mortgage-backed securities alongside its JPM Coin.JPMorgan is not alone in terms of top-tier banks and financial services firms who are delving into the world of blockchain. Rivals such as Citi announced its Citi Token Services product offering in September. It’s a blockchain-based service that utilizes tokenized deposits for the purpose of trading and providing liquidity.Meanwhile, payments firm Mastercard announced that it was performing testing on its Multi Token Network in June. For its part, JPMorgan has also been a participant in Singapore’s Project Guardian, a collaborative initiative led by the Monetary Authority of Singapore in conjunction with the financial services sector, centered on asset tokenization.Bahrani partnershipThis latest collaboration follows hot on the heels of JPMorgan’s partnership with another Middle Eastern bank last month. Bank ABC, which is headquartered in Bahrain, became the first Middle Eastern bank to utilize JPMorgan’s Onyx Coin Systems for faster cross-border payments.That initiative also had the support of Bahrain’s central bank. At the time of the launch of the collaboration, Central Bank of Bahrain Governor Rasheed Al Maraj stated:”After working closely with JP Morgan and Bank ABC over the past two years to experiment with cross-border commercial transactions between Bahrain and the US, leveraging the JP Morgan Coin System, we are pleased to witness the soft launch of this innovative banking solution by a Bahraini-based bank.”