Press Release Daily Today TheBitTimes.com

Play-to-earn projects live and die based on whether they have an influx of new users or the means to continue rewarding existing ones. All of this lacks sustainability in the long run. Web3 game development company QORPO says there are significant shortcomings in the play-to-earn space — and a drastically different approach is needed to create games that retain users and achieve sustainable tokenomics. Ever since the heady days of 2021 — when play-to -earn games reached their peak — Web3 has been in a period of reckoning. At its height, Axie Infinity was helping players in emerging economies like Ghana and the Philippines earn substantially more than the minimum wage. A crushing token bridge hack and a cooling market later led to rewards being cut considerably. When you zoom out, only a small handful of projects have achieved sustainable growth — and this relates to inherent flaws in the concept of play-to-earn. Entry costs can be high, with players sometimes having to splash out hun...

Notably, the SEC plans to employ this strategy to broaden the market participation in Nigeria. At the same time, the regulator plans to maintain the Central Bank of Nigeria’s stance to not offer cryptocurrency trading to citizens of the nation. advertisement Abdulkadir Abbas, head of SEC urities and investment services at the SEC confirmed the plans of the regulator, saying the commission will “…like to start, as a regulator, with a very simple clear proposal before we go into the complex ones.” As it stands, the watchdog has begun to process applications for digital exchanges on a trial basis. According to the set-out blueprints, these crypto exchanges will go under a one-year regulatory incubation period during which they would be under the close supervision of the SEC. In the course of the one-year regulatory incubation, only a limited range of services would be offered by these entities. In the end, the Nigerian regulator would ...