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Soulbound NFTs, Off the Grid’s Explosive Start, Will Bitcoin Breach $70K

This week in web3 via NettyBytes

 

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🗞 NEWS 🤓

Source: X, belong

Soulbound NFTs: Transforming Community Monetization for the Web3 Era

Soulbound NFTs are reshaping community monetization by simplifying access to digital and physical experiences. Traditional models relying on ads and memberships often fall short in maximizing value, while Web3 technologies like token gating and NFT-based memberships offer seamless solutions. Platforms like Belong provide creators with tools to manage events, memberships, and exclusive content through soulbound NFTs, which are non-transferable tokens tied to an owner’s identity. These NFTs offer access to events, private content, and even physical spaces like gyms via Apple Home integration. Additionally, NFT-based ticketing reduces event management fees and streamlines processes. With zero gas fees from Skale, Belong aims to make participation more accessible, setting new standards for the Web3 space and merging digital and real-world economies.

Source: Youtube, Off the Grid

Off the Grid’s Explosive Start: Can a Crypto Game Go Mainstream?

“Off the Grid,” a battle royale by Gunzilla Games, has soared in popularity during early access, topping the Epic Games Store and amassing 148,000 Twitch viewers. Its unique gameplay, featuring customizable cyberlimbs, sets it apart from other titles. Although it runs on the Avalanche blockchain, crypto elements like the GUN token and NFT marketplace are not yet active, easing concerns about alienating traditional gamers. Performance issues on PC could hinder long-term growth if not addressed. Critics caution that exploitative crypto integration could harm the game and Web3 gaming’s reputation. However, the delayed token launch may help avoid missteps other crypto games made by rushing blockchain features. “Off the Grid” could redefine the future of crypto games if Gunzilla balances gameplay with meaningful blockchain use. Its success shows the potential for Web3 games to reach mainstream audiences.

Will Bitcoin Breach $70K, or Is a Market Correction Inevitable?

Bitcoin’s recent surge to nearly $70,000 has triggered concerns of an impending price correction, as profit-taking by investors increases. On-chain data shows that over 92% of Bitcoin holders are now in profit, which is often seen as a sign of market overheating. Additionally, open interest (OI) in Bitcoin futures has reached record highs, with increased leverage suggesting heightened market volatility. The market’s RSI has entered overbought territory, and the Crypto Fear & Greed Index indicates “greed” conditions, which often precede corrections. If the pattern from previous rallies holds, Bitcoin could experience a sharp pullback similar to the August 2023 dip, or corrections seen during earlier bull markets.

📊 CRYPTO PRICES 💰

Bitcoin
$66,158.65 -2.2%

Cardano
$0.3495 -1.3% 

Ethereum
$2,536.39 -2.6%

XPR
$0.5238 -4.3%

Solana
$167.88 +8.3%

Avalanche
$26.47 -3.6%

🚨 High Sale Alert 🚨

Bored Ape Yacht Club #9572

Sale:
86.00 WETH
$229,357.11

Last Sale: 3 years ago
45.90 ETH
$85,723.94

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