Read in digest
- Microsoft (NASDAQ 🙂 has taken the Metaverse even further with the purchase of Activision Blizzard (NASDAQ :), and Animoca Brands has raised $ 360 million.
- Coinbase (NASDAQ 🙂 and Mastercard (NYSE 🙂 have signed an NFT partnership and OpenSea has acquired Dharma Labs.
- Whales will purchase $ 17 million worth of MATIC after the EIP-1559 upgrade.
- Intel (NASDAQ 🙂 is preparing to release “Ultra Low Voltage Bitcoin Mining ASIC”.
Microsoft pushes the Metaverse deeper with the purchase of Activision Blizzard, raising $ 360 million for Animoca Brands
Joining a number of companies jumping into the Metaverse, Microsoft has announced the $ 68.7 billion acquisition of Activision Blizzard, an American video game holding company.
Microsoft said the acquisition will accelerate its involvement in the gaming industry across all mobile, PC, console and cloud platforms. Microsoft added that the deal will also provide components for entering the Metaverse.
In other news from the virtual world, Metaverse gaming company Animoca Brands has announced the completion of a $ 360 million funding round. The round was led by Liberty City Ventures.
According to Crunchbase, Metaverse companies are currently raising an estimated $ 604 million. With the latest funding round, Animoca Brands has a valuation of over $ 5 billion. This is three times the value in October 2021.
Flip Cider:
- Morgan Stanley (NYSE 🙂 states that companies may face challenges over convincing customers to buy new technologies.
Why you need to care
Microsoft has joined the list of companies that are pouring billions of dollars into the Metaverse and is making it a reality.
Coinbase and Mastercard sign NFT partnership, OpenSea acquires Dharma Labs
In building the NFT marketplace, the leading cryptocurrency exchange Coinbase has announced a partnership with Mastercard. According to Coinbase, this partnership aims to reduce friction in the NFT purchasing process.
As a result of the partnership, Coinbase users will be able to use Mastercard’s credit and debit cards to make purchases at crypto companies’ upcoming NFT marketplaces.
To improve NFT services, OpenSea, the leading NFT marketplace, has announced the purchase of cryptocurrency wallet and lending platform Dharma Labs. OpenSea aims to improve the experience of buying, creating and selling NFTs on the market.
As part of the acquisition, Dharma Labs will be shut down and integrated directly into OpenSea. Dharma allows users to deposit fiat money for trading. This has led to rumors that OpenSea can investigate fiats for NFT purchases.
Flip Cider:
- Since the Dharma Smart Wallet is set to be deactivated within 30 days, Dharma Labs has urged users to withdraw or sell their funds by February 18.
Why you need to care
Coinbase and OpenSea are looking for ways to safely and reliably engage more people in the growth of the NFT sector.
Ethereum Whale Purchases $ 17 Million Worth MATIC After EIP-1559 Upgrade
Since December, it has been reported that the largest Ethereum whale has acquired polygons (MATIC). However, since EIP-1559 was implemented on Polygon Mainnet, many of these investors have turned to Layer 2 scaling solutions.
EIP-1559 introduced the token write protocol in Polygon (MATIC). Since MATIC is a fixed supply token, reducing the number of tokens in circulation aims to create a deflationary model that is expected to have a positive impact on MATIC.
According to on-chain data, the 157th largest Ethereum whale recorded a total of 7,483,202 MATIC in seven different transactions, worth $ 17,396,711.
MATIC 24-hour price chart. Source: Tradingview
Flip Cider:
- Despite the initially expected uptrend, MATIC has experienced a significant 5% drop in the last 24 hours.
Why you need to care
With the success of 2021, more people are looking to Layer 2 scaling solutions and the value of MATIC is expected to increase further in 2022.
Intel is preparing to launch “Ultra Low Voltage Mining ASIC”
Intel, one of the world’s largest computer chip makers, is reportedly planning to enter the cryptocurrency and Bitcoin mining hardware market in February. According to reports, the microchip giant has developed an “ultra-low voltage, energy-efficient Bitcoin mining ASIC.”
As Intel prepares to unveil the “Bonanza Mine” processor at the International Solid-State Circuits Conference (ISSCC) starting February 23, many suggest that they can unveil a new mining chip together.
ASIC chips are widely used in cryptocurrency mining because they are particularly suitable for calculating related numbers. With the launch of ASICs, Intel will directly compete with Bitmain and MicroBT in the ASIC market dedicated to Bitcoin mining.
Flip Cider:
- Cryptocurrency mining has been widely criticized by environmentalists and gamers.
Why you need to care
Intel is trying to gain market share in the cryptocurrency mining hardware market. The rise has led to higher demand and prices for GPUs.
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