\n<\/p>\n
Cryptocurrency prices was down Monday, continuing the bad news that has rocked the sector, but one analyst sees possibilities in Metaverse and gaming-related tokens.<\/p>\n
Bitcoin, the world’s most popular and largest cryptocurrency by market cap,\u00a0was down 2.4% to $37,064, while ether was off 2.9% to $2,543 and dogecoin slipped 2.5% to $0.139105.<\/p>\n
Winston Ma, managing partner of\u00a0CloudTree Ventures<\/a>, Author of The Digital War<\/em><\/a> \u2013 How China\u2019s Tech Power Shapes the Future of AI, Blockchain and Cyberspace\u201d<\/p>\n \u201cDespite of broad crypto sell-off amid US Fed rate hiking risk, Metaverse and gaming-related tokens have stayed resilient, thanks to the unprecedented M&A and partnership transactions among major tech and gaming companies,” he said.<\/p>\n\n Ma said that on Friday The Sandbox,\u00a0a decentralized gaming virtual world and a subsidiary of Animoca Brands,\u00a0partnered with Warner Music Group\u00a0 (WMG<\/a><\/strong>) – Get Warner Music Group Corp. Class A Report<\/a><\/span>\u00a0to create a music-themed world in the Metaverse.\u00a0<\/p>\n In the past two weeks, he added, Take-Two Interactive\u00a0 (TTWO<\/a><\/strong>) – Get Take-Two Interactive Software, Inc. Report<\/a><\/span>\u00a0acquired Zynga\u00a0 (ZNGA<\/a><\/strong>) – Get Zynga Inc. Class A Report<\/a><\/span>\u00a0for $12.7 billion<\/a>, followed by the nearly $70 billion blockbuster<\/a> deal of Microsoft\u00a0 (MSFT<\/a><\/strong>) – Get Microsoft Corporation Report<\/a><\/span>\u00a0and Activision Blizzard\u00a0 (ATVI<\/a><\/strong>) – Get Activision Blizzard, Inc. Report<\/a><\/span>.<\/p>\n\n\n\n\n Meanwhile, China\u2019s Tencent Holdings\u00a0 (TCHEY<\/a><\/strong>) <\/span>\u00a0is working on its billion-dollar acquisition of UK game developer and publisher Sumo Group.<\/p>\n “Games are a massive global industry that expands across demographics,” Ma said. “There are over 2.7 billion gamers<\/a> globally. That\u2019s 1 in 3 people.”<\/p>\n\n Ma added that the convergence of tech and gaming companies is “accelerating the integration of blockchain into the mobile games, which in turn will convert more game players into crypto players.\u201d<\/p>\n Separately,\u00a0David Lesperance, managing partner of immigration and tax adviser at Lesperance & Associates<\/a>,\u00a0bitcoin Miners are in the hot-seat with US regulators<\/a> who are looking at the environmental impact of their activity.”<\/p>\n\n “Whether originally Chinese or native Americans, operators in this space need to make sure that their energy use is as efficient as possible and that their energy source be as green as possible,” Lesperance said. “The move to next generation equipment and staking is being accelerated.”<\/p>\n He noted a recent Reuters story<\/a> on Binance, the world’s largest cryptocurrency exchange and its founder Changpeng Zhao “and its on-going tribulations with regulators.”<\/p>\n\n\n The report details the significant issues that various regulators have had with Binance and Zhang himself on establishing robust “Know Your Client\u201d (\u201cKYC\u201d) and anti-money laundering procedures and standards,\u00a0Lesperance said.<\/p>\n\n “This report is certain to bring even more heat onto Binance, CZ and Crypto-Exchanges generally,” he said.\u00a0<\/p>\n \u00a0Zhao has skyrocketed to become the world’s eleventh-wealthiest person<\/a>, amassing a fortune of $96 billion \u2014 even without calculating the value of his personal crypto holdings, according to Bloomberg’s Billionaires Index.<\/p>\n Lesperance said he told Reuters that while accumulating their billions in personal net worth, founders like Zhao and Sam Bankman-Fried,\u00a0founder and CEO of FTX,\u00a0“need to develop effective backup plans and supporting professionals to protect their wealth and persons.”<\/p>\n\n Otherwise they need look no further than former BitMex CEO Arthur Hayes, who was charged by federal authorities with\u00a0violating the Bank Secrecy Act, he said, “to see what their futures will look like.”<\/p>\n<\/div>\n !function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function() Cryptocurrency prices was down Monday, continuing the bad news that has rocked the sector, but one analyst sees possibilities in Metaverse and gaming-related tokens. Bitcoin, the world’s most popular and largest cryptocurrency by market cap,\u00a0was down 2.4% to $37,064, while ether was off 2.9% to $2,543 and dogecoin slipped 2.5% to $0.139105. ‘Unprecedented M&A and […]<\/p>\n","protected":false},"author":1,"featured_media":6517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[36],"tags":[50,2098,52,4454,195],"class_list":["post-6516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-check","tag-cryptocurrency","tag-gamification","tag-price"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/crypto-hand_2.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/6516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6516"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/6516\/revisions"}],"predecessor-version":[{"id":6518,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/6516\/revisions\/6518"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/6517"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6516"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}‘Environmental Impact’<\/h2>\n
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