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.
Tokenization, the process of converting real-world assets into blockchain-based tokens, is set to revolutionize the financial landscape. A research report by Bernstein (Sanford C. Bernstein is widely recognized as Wall Street’s premier sell-side research and brokerage firm) highlights that stablecoins and central bank digital currencies (CBDCs) will drive this trend. Over the next five years, an estimated 2% of the global money supply, equivalent to $3 trillion, is expected to be tokenized.
The benefits of tokenization are clear: improved operational efficiencies, enhanced liquidity, and increased accessibility. Private market funds, securities, and real estate will contribute to the tokenization space’s projected $5 trillion opportunity. The report suggests that stablecoins and CBDCs will find applications in on-chain deposits and payments, with China’s CBDC program leading the way.
As always with these things, regulatory uncertainty poses a challenge to the widespread adoption of tokenization. It needs to be carefully considered and navigated. The success of tokenization depends on policymakers recognizing blockchain technology’s advantages and understanding crypto tokens’ crucial role in blockchain operations. Regulatory frameworks will shape the future of tokenization by either fostering or stifling its growth.
As the world embraces digital assets and decentralized finance, the potential of tokenization to transform various sectors cannot be underestimated. With the right regulatory environment, tokenization has the power to unlock new opportunities and reshape the global financial system. Read more here.
Zucoins + SplitChain in the World of Asset Tokenization
SplitChain’s network has a unique advantage in the growing market of asset tokenization. Tokenization means bringing real-world and digital assets into verifiable systems such as blockchain and SplitChain, with the latter having easier scalability, faster transaction settlements and built-in two-factor authentication for extra safety. All of this combines for an easier process than popular existing solutions out there.
As asset tokenization gains momentum, the base Zucoins token on the SplitChain network can be utilised for all kinds of ties that form digital proofs. The Splitchain protocol aims to be well suited for use across various assets such as private market funds, real estate, art, collectibles and more. More details will be revealed when the milestone is closer to being announced publicly, so make sure you’re subscribed to this newsletter if you aren’t already.
NFL Rivals, a mobile game based on non-fungible tokens (NFTs), has achieved an impressive milestone of over 1 million downloads in less than two months since its release. Despite launching during a challenging period for cryptocurrencies and the NFL off-season, the game quickly gained popularity and even reached the top spot on the App Store.
According to John Linden, CEO of Mythical Games, the developer behind NFL Rivals, the game’s success is not just about the download numbers but also the positive feedback it has received. With a rating of 4.8 out of 5 on the App Store and nearly 22,000 reviews, players are clearly enjoying the game, spending an average of two hours playing each day.
The game features NFT-based player cards that players use to build their teams and compete. These cards come in different rarity levels, from common to legendary, and have varying strengths and weaknesses. While the fact that these cards are NFTs may not be apparent to most players, around 10% of them have engaged with the marketplace to trade collectible player cards.
The success of NFL Rivals highlights the growing interest in NFTs and their integration into mainstream gaming experiences. Mythical Games, the creator of the game, is known for its other NFT-based products, including Blankos Block Party and Nitro Nation. The NFL has also made strides in the Web3 space with initiatives like its ticketing collectible platform and a Dapper Labs-built collectible marketplace.
As NFTs continue to gain traction in the gaming industry, the success of NFL Rivals demonstrates the potential for combining popular sports franchises with blockchain-based digital assets, creating new opportunities for engagement and monetization. No doubt this puts Splitchain in a solid position here too. Read more here.
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All the best,