Major League Baseball (MLB) has taken a step into the blockchain and crypto world by launching its own Ethereum-based game, “MLB Crypto,” in partnership with blockchain dApp developer Lucid Sight, Yahoo Finance has reported.
Welcome Baseball fans! Proud to be partnering with @MLB to bring True Digital Ownership to #baseball Stay tuned for more announcements! #MLBCrypto
The official website of MLB Crypto is now live, however, the game is yet to launch. Users will be able to use their ether to buy digital MLB collectibles, play games to level up, or earn various rewards. Similar to CryptoKitties, these collectibles could also be sold via the Ethereum blockchain to other crypto users. In fact, MLB was in talks with Lucid Sight when CryptoKitties was launched in November 2017. Kenny Gersh, Executive Vice President of Gaming and New Business Ventures at MLB, said that the game proved that MLB Crypto would be successful in “delivering baseball” to users with the help of blockchain technology.
Not a ‘Get-Rich-Quick Scheme’
Gersh said that they are not entering into the blockchain and crypto world due to its popularity. Since MLB’s audience attendance has increasingly dropped this season, they simply want to create a way to engage and bring back baseball enthusiasts.
In order to achieve that, MLB Crypto will also allow users to collect products that celebrate and commemorate MLB events. “For me, say the Red Sox win the division in a couple months, I want to buy something that symbolizes that. These will be event-based things — those moments in sports that happen that you want to remember and cherish, and have a sense that you were there, even if only digitally,” said Gersh.
Gersh also added that some people may accuse them of using a “get-rich-quick scheme,” but they need to understand that the MLB is simply transferring their current collectibles to the digital world.
However, this game might seem confusing to people who have never used the Ethereum blockchain. Octavio Herrera, co-founder of Lucid Sight, explained that they will develop a simple mobile app to combat this problem. However, it won’t be launched until after MLB Crypto goes live — so early users will need to open accounts on a crypto exchange, and buy and transfer ether to Ethereum dApp browser MetaMask.
The first 100 users that sign up to MLB Crypto will earn one MLB collectible free of cost. The referral program will also reward early users with random collectibles on a first-come-first-served basis.
A retail investment platform called Republic recently completed $12 million in financing to tokenize its platform and introduce its own security token, led by Binance Labs and NGC ECO Fund. The financing round was also supported by ZK Capital, Oyster Ventures, FBG Capital, Hazoor Capital, East Chain, Zhen Fund and others.
Republic — which last year secured seed funding from AngelList, NextGen Venture Partners, Oyster Ventures, RenGen and Grand Central Tech — points to its core tenets of partnership, compliance, and fair access as relevant to the increasingly global crypto investing ecosystem.
‘Crypto Fever’ Jumpstarts Entrepreneurship
Kendrick Nguyen, CEO of Republic, said the company’s goal is to become the main marketplace for private investing, and its mission is to enhance diverse participation in all types of entrepreneurship. He said the global “crypto fever” has jumpstarted the company’s mission, and that global collaboration is needed to address existing complexities and allow the crypto industry to expand fast and responsibly.
Republic started to offer token sales late last year to accredited and non-accredited investors. Dozens of crypto projects have been supported by tens of thousands of investors globally.
The platform is now looking to tokenize all financial products, and it plans to use its token to provide economic rights in addition to functional uses.
Supporters Laud Initiative
Ella Zhang, head of Binance Labs, said Republic provides new opportunities to participate in startups. Republic’s “democratization of access” to investing in startups matches Binance Labs’ values.
NEO Global Capital’s Tony Gu said Republic has established a track record for selecting credible projects and maintaining a transparent process with its regulations. Transparency and compliance are important to the mainstream adoption of blockchain technologies and crypto assets, he said.
Oyster Ventures’ Sophie Liao lauded Republic’s ambition in utilizing crypto to grow the ICO economy.
Malta continues to move ahead in the crypto space with cryptocurrency exchange giant Binance now confirming that it will be supporting the country’s Malta Stock Exchange (MSE) in an innovative blockchain and crypto-related project.
The MSE recently announced that Binance, the world’s largest cryptocurrency exchange, is backing its newly launched program to support fintech and crypto start-ups.
According to a tweet on the MSE’s official Twitter account, it will accept up to twelve fintech companies to utilize the facilities proposed within the newly established program.
The MSX FinTech Accelerator Programme aims to support and mentor fintech startups and entrepreneurs to become more competitive. Within the program, entities will be offered services such as in-house accounting and payroll, facilities including offices and conference rooms, a training centre, and communication services. Thomson Reuters has also reportedly joined the program as a mentor.
Commenting on the accelerator program, the MSE chairman Joseph Portelli said that the exchange will enable both local and foreign organizations to bring their products to the market faster by offering “easy access to a readymade solution.”
A Binance spokesperson added: “We moved our operations to Malta precisely because it has demonstrated its progressive approach to supporting and developing the crypto and blockchain industry. Malta is creating a safe and legislated environment for the industry to become reputable, attracting companies like ours and many others. The Malta Stock Exchange reflects these values, providing the infrastructure for entrepreneurs and start-ups to flourish in what is otherwise a highly competitive industry.”
Binance is one of the largest digital currency exchanges in the world, with a 24-hour trading volume of nearly $1.2 billion at press time. Currently, its token Binance Coin is trading at around $16.50 with a total market capitalization of $1.9 billion, according to CoinMarketCap. Binance is also working on the launch of a new Malta-based cryptocurrency trading platform which will allow crypto-fiat trading by the end of the year. It also announced that it had opened a bank account on the island although there has not been much detail on how this will work.
Earlier this month, Binance made an undisclosed investment in Malta-based blockchain-powered esports voting platform chiliZ. Binance and chiliZ will reportedly “join forces” to provide the sports industry with a “fan-driven token ecosystem for traditional sports teams.”
The EOS price rallied 16 percent on Saturday following the release of the blockchain project’s open-source mainnet software, but there’s more to this pump than first meets the eye.
EOS Price Makes Market-Leading 16 Percent Rally
Today’s EOS price surge came as part of a wider market rally, but the token nevertheless managed to outpace every other cryptocurrency ranked in the top 100.
EOS spent most of the day trading just over the $12.00 mark but began to surge at approximately 6:15 UTC on Saturday morning. Within hours, the EOS price had peaked above $14.40 on Bitfinex, though it has since declined to a present value of $14.07.
EOS now has a market cap of about $12.5 billion, ranking it fifth on the market cap charts and $5.2 billion behind fourth-ranked bitcoin cash.
Somewhat remarkably, EOS is actually priced at a discount on South Korean exchanges, which as a general rule force local investors to pay a premium. Volume is very well distributed, with no single trading pair accounting for more than 13 percent of the token’s global volume or trading venue accounting for more than 20 percent.
Block.one Releases Mainnet Software, Tokens Locked on Exchanges
The clear impetus for the rally was the formal release of EOSIO 1.0, which development company Block.one shipped this morning at the conclusion of its yearlong $4 billion initial coin offering (ICO).
Until now, EOS tokens have been structured as ERC-20 tokens and have run on the Ethereum network, meaning that users must transfer their tokens to the coin’s independent blockchain. During this complicated process, token balances held in ERC-20 wallets have been locked, and exchanges have frozen deposits and withdrawals. However, exchanges continue to allow users to trade the limited supply of EOS tokens currently held on their platforms, creating an environment that is not entirely comparable to other trading pairs.
For example, an early EOS investor who would ordinarily consider selling tokens at $14.00 may not be able to do so since they cannot currently deposit EOS on an exchange. In essence, the reduced EOS supply will translate into increased price volatility until the nascent EOS mainnet achieves stability.
Notably, Block.one has said that it will not launch an EOS mainnet, nor will it commit to continuing to develop the software beyond the current release. Consequently, it is expected that there will be several networks claiming to be the “EOS mainnet,” and it could be some time before a clear winner emerges.
Much has been made about the prevalence of scams within the initial coin offering (ICO) industry. However, a new report published by researchers at the Boston College Carroll School of Management suggests that the average ICO investor is still raking in a significant profit.
The 54-page report, titled “Digital Tulips? Returns to Investors in Initial Coin Offerings,” examined 4,003 ICOs which raised a combined $12 billion and tracked the value of their tokens across different timeframes.
The study found that the average ICO token rose 179 percent from its token sale price to its opening price after achieving listing on a cryptocurrency exchange, a holding period that lasted an average of just 16 days. Even after assuming that tokens that failed to achieve listing within 60 days represent total losses for buyers, the average investor managed to net an 82 percent profit against USD.
Even investors who waited to purchase ICO tokens until they had been listed on an exchange managed to yield impressive returns, as prices rose an average of 67 percent during their first 30 days of trading. This return increased significantly for investors who held onto their tokens over longer time periods, netting hodlers 140 percent over 90 days, 430 percent over 180 days, and 1,880 percent over 360 days. However, researchers noted that there are fewer data points for these longer durations as most ICO tokens have not been trading for a full calendar year.
The researchers said:
“Our paper shows that ICOs investors are compensated handsomely for investing in new unproven platforms through unregulated offerings. It suggests that scams, while plentiful in number, are not as important in terms of stolen capital because investors are shrewd enough to spot (and underfund) them.”
“While our results could be an indication of bubbles, they are also consistent with high compensation for risk for investing in unproven pre-revenue platforms through unregulated offerings,” they added.
Hugo Benedetti, one of the report’s authors, told that he was “very surprised” by the findings, particularly given the media attention on ICO scams. However, when asked what this meant for the industry moving forward, he was hesitant to draw any long-term conclusions.
“Well, that’s a tricky question, because nothing guarantees that the market will continue to allocate capital as proficiently as it has so far. Retrospectively, we see that even though there have been many underperformers (ICOs that list or trade below their issuance price), on average the returns to the industry have been largely positive,” he said.
The world’s largest cryptocurrency exchange by traded value, Binance with over 6mil users is setting up operations in Malta.
The company, founded by ICO last year in Hong Kong, is planning to open an office in Malta, Chief Executive Officer Zhao Changpeng said in an interview. Binance will soon start a “fiat-to-crypto exchange” on the European island nation, and is close to securing a deal with local banks that can provide access to deposits and withdrawals, he said, without providing any timeframe.
“We are very confident we can announce a banking partnership there soon. Malta is very progressive when it comes to crypto and fintech.”
Regulators in China U.S. and others around the globe have been cracking down on cryptocurrency exchanges since last year, making it difficult for exchanges to find a permanent base. Binance had an office in Japan and was trying to get a license to operate there, but decided to remove its staff to avoid a clash with local regulators, Zhao said. Japan’s Financial Services Agency issued a warning to the exchange on Friday for operating without approval.
Zhao said he was also continuing discussions with authorities in Hong Kong, but that the outcome of those talks was uncertain. Binance was among seven crypto exchanges that received a warning letter in recent months from the city’s Securities and Futures Commission telling firms not to trade digital assets defined as securities under Hong Kong law.
Binance investment in Malta comes as the country looks for ways to become a hub for digital-asset ventures. The government has held several public consultations on regulating virtual currencies, token sales and crypto-exchanges. Plans for a Malta Digital Innovation Authority that will certify and regulate blockchain-based businesses and their operations were unveiled last month, the organization will also create a framework to oversee initial coin offerings.
Zhao said he had recently been invited by the Maltese government to review an upcoming bill that was favourable to crypto businesses.
Prime Minister and Leader of the Labour Party – Malta Twitted:
Binance Coin has increased in value by 27% in the past 24 hours and has hit a high of $11. This is after it was announced that they will launch their own ‘tailored blockchain’ specifically for the exchange.
In the world of blockchain, we have always believed that actions speak louder than words. Thus, a tailored blockchain is the best way to communicate ourselves.
Binance is continuing their way to become the greatest exchange since mid-2017 when they released an ICO that has raised approximately $15 million, and an early user base was established by a heavy geographic concentration in China.
The Binance team has conducted extensive research on decentralized exchange infrastructure, leading them to believe that “significant improvements can be made in providing Binance users with a level of trading experience to which they are already accustomed.”
In such a way, the concept for Binance Chain was born. The public blockchain “will mainly focus on the transfer and trading of blockchain assets, as well as provide new possibilities for the future flow of blockchain assets.” Further, Binance hopes that the project will provide users with liquidity, an easy-to-use platform, and superior performance compared to other exchanges. As one might expect, Binance’s BNB coin will serve as the native currency for the blockchain, but the team will first have to upgrade BNB to migrate it to the new network.
The exchange also believes that, in the future, decentralized and centralized exchanges alike will “co-exist” and complement one another. As such, it’s unclear whether or not Binance intends to migrate to a strictly decentralized exchange or implement some hybrid model, for the post does not explicitly state that the exchange intends to adopt a fully decentralized system. Moreover, if Binance does make the move to a decentralized platform, it’s unknown how the exchange plans to execute this infrastructural overhaul and if it will run via smart contracts.
Binance has worked incredibly hard, and have now become the world’s highest-volume cryptocurrency exchange that does not support fiat trading pairs, and frequently outpaces those exchanges that do offer fiat pairs. And is very supportive of Asian blockchain projects in general, and very trusted one which makes it a great bridge for investors of the west that are willing to invest in Asian projects.
Their statement about the progress:
We know how hard it is to create a business, however, creating history is even harder. The real enemy is often ourselves. We need to continuously improve and disrupt ourselves. We need to work together to create a better version of ourselves. The futures belongs to the new us, together. Thank you for your unwavering support.
The NEO Council manages 10% of ONT tokens and has decided to airdrop 20,000,000 of these tokens to NEO holders. This is both a gift to the community and an effort to support a joint ecosystem.
The council will airdrop the tokens in two phases using the same snapshot. The first phase of the Airdrop will deliver 0.1 ONT per NEO and will be completed in the weeks following March 1st. They will lock the remaining 50% and airdropp in onto the Ontology MainNet after its release in Q2, 2018. Then they will release further details as we approach the launch of the Ontology MainNet. The snapshot will occur at block height 1,974,823 and is estimated to be on March 1st, 2018, at 01:00 UTC.
OnChain launched The Ontology Network on the 27th of November in 2017. Many may know OnChain as DaHongFei’s and Erik Zhang’s company, since people know them as the founders of NEO.
Ontology is a project that focuses on building a decentralized trust ecosystem. It is a peer to peer blockchain network that will enable cross-chain, cross-system, cross-industry, cross-application, and cross-device infrastructure.
ONTOLOGY TOKEN DISTRIBUTION MODEL
12% – Ontology Community (including the reward events)
28% – Institutional Partners
10% – NEO Council
25% – Ontology Ecosystem Development
10% – Ontology Technical Community Reward (including the future bounty program)
15% – Ontology Core Team
Exchanges Binance and KuCoin have announced they will be supporting the upcoming Ontology Airdrop to NEO holders.
Every month Binance exchange asks their community which coin they would like to see listed next. The latest round of voting is currently under way and it’s coming down to two interesting options. The voting ends on 25th February.
Currently Elastos (ELA) is the favourite with 33.82% of the votes, and is enjoying a nice bump in it’s price on Huobi, which is the only exchange where it’s currently available. The volume of $112M over the last 24 hours is also very encouraging. The price at time of writing is $78.32 USD (+19.01%/24h).
WePower (WPR) is in close second place with 28.53% of the votes, however the volume isn’t nearly as impressive with only $11M exchanged over the last 24h hours. The price at time of writing is $0.173028 USD (+12.55%/24h).
These may or may not represent potential trading opportunities. As always do your own research first. You can follow the voting here.
Another coin that cought my attention today is TRON. If you go to their website you will find a pretty simple description of what this coin is and what is it for:
TRON is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription and push of contents and enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem.
I like this Idea as well and you can see that they are active on twitter so you can count on their team they will be working towards their goals.
Fundamentally TRON (TRX) looks good. Also you can find great articles about the coin, that support its growth. Like this one: https://theindependentrepublic.com/2018/02/08/tron-trx-top-ten-coin/
Now lets get technical.
On a daily chart TRON looks like it’s right at the bottom – support level.
But we have to look at it a bit more up-close. Check out the 4-hour chart with added Fibonacci Retracements.
From this chart you can see that is hovering right around 50% fibonacci retracement and as we know that will serve as a nice support, but I am not yet convinced into jumping in to buy it. It has already come off the 50% and rose, but came back again. My speculation is that we can be overall bullish on TRON. With that being said we still need to take care of where to enter the market. At this moment I don’t see the best opportunity to jump in but definetly this is the coin to keep an eye on. I consider zone from 0435-0399 to be the point of good entry with the stop loss at 0320, thats around 20%. First profit target is at 0600, rough 50% gain and the second target at 0867, which is previous high and adds up to 115% gain.
Also if the TRON team will continue to work hard and keep on upgrading its project it could be a good coin for longer term holding, which can bring in even bigger profits.
We are the new economy news hub. 2100NEWS is the professional index, data, and tools provider in the digital asset space, offering Crypto Market Intelligence, providing the perspective you can trust and equipping you with information edge you need to stay ahead. (Real-time data of token issuers and news, analysis and commentary from community.) We are very excited to contribute to the evolution of the industry and build an ecosystem around our offering (the institutional-grade data infrastructure required to enable institutional investments in digital assets). We want our contributions (Contents and Tools on 2100NEWS.com) to be useful for helping investors.