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As crypto evangelists and investors adapt to Indian tax rules and operational protocols, and the virtual currency market stabilises, the focus has now shifted to the much-talked-about Web3 space. Experts say with India having a large number of retail crypto customers and Web3 developers, it’s in a unique position to play a key role. A quick 5G rollout and government support will boost India’s play, Partha Sinha reports… Two months after the crypto crash, the virtual currency market is showing signs of stability with the price of Bitcoin, the oldest and the most popular one, hovering around the $20,000-mark for weeks now. In India, crypto exchanges, facilitators, and investors are adapting to new tax rules and operational guidelines. With talks of an existential crypto crisis mitigating, tech entrepreneurs and developers who are in the Web3 space are once again becoming hopeful. According to industry leaders, India has played a key role in the Web2 space globally. While Web 2 are websites and applications that make use of user-generated content like Facebook and Wikipedia, Web3, at its core, uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership of digital assets. Thoughthese are early days, there are indications that Indians will once again play an important role in the development and growth of Web3, metaverse, and the blockchain space, say industry experts.ENTER YOUNG ENTREPRENEURS Did you Know?From tracking sustainability

MATIC, which has been registering more greens on its chart over the past week, has flipped DAI to become the 12th largest cryptocurrency in the world. The altcoin outperformed several other cryptos with higher market capitalizations over the same period, with its value hiking by nearly 10% in seven days.

A new NFT and metaverse project is being built on the Ethereum blockchain — with a cutting-edge difference that could set it apart from rivals.

Bitcoin [BTC] mining activities plummeted since complaints of excessive power demand followed the process. This same power generation demand was what led to the block difficulty reaching a new high earlier.

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Phil Spencer, the head of Microsoft’s gaming company Xbox is optimistic about the Metaverse but remains “cautious” about play-to-earn (P2E) crypto games due to its economic and speculative aspects.

 

 

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LINK, the native token of the leading oracle network, Chainlink, has seen tremendous growth since the beginning of July. In fact, according to Santiment, the altcoin’s price has rallied by over 41% since 1 July.

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A recent trend in the exchange-traded funds market suggests bond demand is far from cooling.

“Unsatisfactory” cybersecurity measures among play-to-earn (P2E) crypto games pose a great risk to GameFi projects and their gamers alike, warns blockchain cybersecurity auditor Hacken.

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Ether (ETH) is reaching a make-it or break-it point as the network moves away from proof-of-work (PoW) mining. Unfortunately, many novice traders tend to miss the mark when creating strategies to maximize gains on potential positive developments.

The world of play-to-earn games is changing.

Blockchain gaming and the play-to-earn model was all the rage in 2021, but overtime the model declined as a few kinks were revealed and the wider NFT and crypto market hit a few speed bumps. It’s safe to say, the sector is “down, but not out” and it’s entirely possible that blockchain gaming could see another 2021-style surge once the market regains its momentum.

The popular sandbox video game Minecraft has banned non-fungible tokens (NFTs) and blockchain innovations from integrating with its platform. On the other hand, Japanese entertainment conglomerate Square Enix has announced its NFT project.

Innovation is endless in the crypto space. We've seen how play-to-earn has transformed the world of gaming, while move-to-earn rewards enthusiasts for staying active.