Fear of scams deters gamers from playing crypto


New research has revealed that concerns about scams are a major barrier to crypto gambling.

Coda Labs, a Web3 mobile game developer, surveyed 7,000 respondents from the UK, US, Brazil, Japan and South Africa in partnership with the Blockchain Game Alliance, DappRadar and Laguna Games for the ‘study.

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It revealed that 41% of gamers were concerned about scams, while 41% were unsure how Web3 games worked. The financial costs of participation were a barrier for a third of respondents.

Investments in Web3 games are expected to reach around $10 billion by the end of 2022 despite the ongoing crypto winter and an often highly critical response to Web3 from gamers and game developers.

” Without surprise, [the study] found that many gamers see no benefit from Web3 games, and even those familiar with Web3 are wary of financial costs and scams,” said Şekip Can Gökalp, CEO of Coda Labs.

“The obstacles to the widespread use of web3 are numerous, although gamers’ concerns about its impact on the environment are less pronounced than is often said.

“When regular gamers try Web3 games, they tend to feel more positive, and this survey reveals that these regular gamers and heavy crypto users are not as far apart as we might have thought.

“They often overlap in their behaviors, motivations and concerns; “Crypto Gamers”, as we have called them, are actually hardcore gamers who are also early adopters of the technology.

“We hope the community gaming industry can use this crucial information to experiment with ways to make gaming more fun and accessible to all types of gamers.”

Improbable aims for profitability and $100 million funding

Launch of the NFT Stems music platform

An NFT music platform was launched after raising $4 million.

Stems is a decentralized social hub for music creators and listeners to collaborate and connect with emerging and major artists around the world.

Artists can post musical stems or components that make up a track such as drums, bass, and guitar to the community, who can use them to create remixes and create musical NFTs.

The original artists of the stems will receive royalties from the sales of the remixes containing their stems.

Hosted on the Polygon blockchain, users must purchase and deposit MATIC tokens into their crypto wallet and then connect it to the platform.

Ideo CoLab Ventures led the funding round. It also included Collab+Currency, Village Global, Polygon Studios, Merit Circle, Yield Guild Games, FireEyes, NoiseDAO, Jump, GSR, and Akatsuki.

Cryptocurrency Shorts

Global banking system SWIFT says it has moved central bank digital currencies and tokenized assets onto existing financial infrastructure in two successful trials. He adds, “CBDCs can be rapidly deployed at scale to facilitate trade and investment between more than 200 countries and territories around the world.”

Horizon Blockchain Games, developer of turn-based card game NFT Skyweaver, raised $40M in Series A funding led by Brevan Howard Digital and Morgan Creek Digital, with participation from Polygon, Take-Two Interactive, Ubisoft , Xsolla, The Sandbox co-founder Sebastien Borget, Sky Mavis and Axie Infinity co-founder Aleks Larsen. It plans to grow its smart wallet streak, expand Skyweaver’s content and reach, and introduce a semi-fungible token (SFT) market called Niftyswap.

Yuga Labs has revealed a Bored Ape Yacht Club community board to help the project “grow and thrive”. Members include @beijingdou, @SeraStargirl, @TheMiamiApe, @OxEthanDG, @OxWave, @negithenagi and @peterjfang.

The Middle East and North Africa are the fastest growing cryptocurrency markets in the world, according to research by Chainalysis. The volume of crypto received in the region jumped 48% to $566 billion in the 12 months to June.

Taiwan-based Asus, the world’s fifth-largest computer company, has launched a Web3 unit to oversee its NFT marketplace and metaverse projects. Some artists will be asked to list their NFTs on “Art Black Hole”.

Asset management giant GoldenTree has invested $5.2 million in governance token SushiSwap, created as a copycat of Uniswap with additional liquidity mining and governance features.

Can stablecoins counter Latin American hyperinflation?

Crypto prices

The aggregate market cap of the 21,200+ coins is $971 billion at the time of writing (7am UK), an increase of 0.5% in the last 24 hours.

For summaries of recent developments in cryptocurrency news, click here.

For valuations of the top 100 coins by market cap in US dollars, plus 24-hour price changes, see below.

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Fear of scams deters gamers from playing crypto

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