Daily Crypto, Finance and Tech News Summary – June 9, 2023

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Welcome, and thank you for being part of the MyZucoins community! Dive into our daily crypto, finance and tech news summary to stay in the know.

New Dawn in Gaming: Security and True Ownership Through Cutting-Edge Tech

The video gaming industry, estimated to reach $200 billion in 2023, is experiencing a groundbreaking transformation due to blockchain technology. Blockchain’s decentralisation could mean games don’t have to rely on one central authority, but on a network of computers, each with a copy of the blockchain. This significantly boosts security, making it harder for hackers to commit fraud.

Blockchain’s transparency is game-changing; every transaction is visible to all users on the network. Coupled with smart contracts, which are self-executing contracts with set terms, it ensures fair play and makes it easier to detect and trace any foul play. Another formidable feature is blockchain’s immutability, which protects in-game asset trades. Transactions are irreversible, ensuring clear ownership. This has also paved the way for non-fungible tokens (NFTs), which are kinds of unique digital assets, expected to be worth $1.6 billion in 2023.

Moreover, blockchain and similar technology are set to reinvent the economic aspects of gaming by allowing players to have true ownership, transferability, and exchangeability of in-game assets. This turns players’ efforts and skills into tangible assets that they can trade freely, reflecting real-world economic systems within games, and making gaming more immersive and rewarding.

However, integrating blockchain into gaming is not without hurdles. Technological issues such as scalability and energy consumption, as well as legal and regulatory challenges, need tackling. Not to mention, in recent years there has been strong pushback from various gaming communities against the idea of integrating web3 tokens. Additionally, educating players on blockchain is crucial for its successful adoption. Despite these headwinds, the industry is moving forward with exploring and integrating various kinds of decentralised solutions to build both in-game and cross-game loyalty and markets. Read more here.

Real-Time Transactions and Scalability: Splitchain’s Cutting Edge Solution

Splitchain, the backbone of the Zucoin token, represents a technologically advanced alternative to traditional blockchain networks, designed from the ground up to overcome the inherent challenges that impede the growth and efficiency of blockchain. Unlike blockchain, which often requires band-aid solutions to address its limitations, Splitchain offers a comprehensive and efficient system that eliminates these issues.

With its innovative architecture, Splitchain provides a more streamlined and efficient platform for various applications, including gaming. It offers real-time transaction capabilities, ensuring seamless and instantaneous transfers of value without the need for costly intermediaries or delays. This level of efficiency is crucial in creating a smooth and immersive gaming experience.

By removing the scalability limitations and energy consumption associated with traditional blockchains, Splitchain offers a scalable and environmentally friendly solution. Its technology allows for increased transaction throughput, enabling a high volume of transactions to be processed without sacrificing speed or incurring additional fees. This scalability is essential in accommodating the growing demands of the gaming industry.

Splitchain’s commitment to efficiency and technological advancement positions it as a pioneering force in the industry. As a true alternative to blockchain, it provides a robust and sustainable infrastructure that can drive innovation, facilitate real-time transactions, and foster the widespread adoption of decentralised applications.

EA Sports Uses Nike’s Virtual Gear in Gaming Crossover

Nike announced its innovative virtual creations, known as non-fungible tokens (NFTs), will soon be integrated into EA Sports games. While specifics remain undisclosed, the integration is expected within the coming months, and could feature customisable Nike virtual footwear and apparel in popular games like FIFA, which claimed the title of “most popular game” in 2022, Madden NFL, and NBA Live—all boasting millions of fans.

This integration follows the unveiling of Nike’s NFT platform, “.Swoosh”, in November 2022, and the launch of its first NFT collection, Our Force 1, in May 2023. Our Force 1, which subtly references Nike’s classic Air Force One sneakers, has sold over 97,000 virtual shoe NFTs to nearly 53,000 addresses as per Polygonscan data.

Nike is no stranger to the virtual space; in December 2021, the company made its entrance into the metaverse through the acquisition of virtual sneakers brand RTFKT and launched the virtual world Nikeland. While .Swoosh employs similar technologies, it stands as a separate project alongside RTFKT and Nikeland.

The incorporation of Nike’s virtual creations into EA Sports games is seen as a significant leap towards mainstreaming crypto in gaming. Ron Faris, general manager of Nike Virtual Studios, expressed that the partnership holds the potential to unlock unprecedented experiences for the .Swoosh community and EA Sports’ enormous fanbase. Read more here.

This collaboration between Nike and EA Sports is just one example of the transformative potential that lies ahead with the emergence of alternative solutions like Splitchain. As the limitations of traditional blockchain become increasingly evident, the advanced technology and real-time transaction capabilities of Splitchain offer a promising alternative. With its efficient and scalable infrastructure, Splitchain could be positioned to revolutionise various industries, including gaming, by providing seamless integration of innovative concepts like non-fungible tokens (NFTs, also known as Universal Digital Assets (UDAs) in the Zucoins world), unlocking new realms of possibilities. The future of decentralised and efficient systems is here, and Splitchain is getting ready to reshape the digital landscape for the better, offering a left-field alternative.


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Peter
MyZucoins