KUALA LUMPUR, Malaysia, Jan. 19, 2023 /PRNewswire/ — Footiverse, a football fantasy league metaverse, has recently marked its entry into the NFT space with the launch of the FootiverseNFT collection on new year’s eve. A utility-driven NFT, Footiverse seeks to create a sustainable NFT ecosystem driven by the continuous addition of features and practical perks, rather than solely through hype alone. In furthering this mission, Footiverse aims to launch its Game-fi (the intersection of gaming and finance in an environment driven by use of blockchain and NFTs) platform in Q3 of 2023.
A digital asset that lives on a blockchain, NFTs are popular for their uniqueness and community-empowering nature. While incentivisation and popularity can greatly increase the value of hype-driven NFTs, this also means that they generally have an extremely short lifespan in comparison to their web 2.0 counterparts — because they run on the unsustainable resource of hype. The emphasis of hype in marketing and value creates a void in thought given to the long term planning in building a thriving NFT ecosystem and community.
For instance, while the average holding period for NFTs increased from 30.9 days to 47.9 days between Q1 and Q2 2022 — this is still a relatively low period when compared to more traditional investments such as stocks that have an average holding period of 5.5 months. Footiverse aims to reach holding parity and redefine NFTs as a long-term investment by making their value less reliant on hype cycles and market fluctuations.
“Footiverse’s main strategy to maximise user engagement is through gamifying NFTs. Web 3 gaming opens up new opportunities with play-to-earn systems to further incentivise user activity. However, many Web 3 games use predatory practices such as locking rewards and progression behind hours and hours of playing to produce artificial activity and demand. To counter this, Footiverse instead focuses the bulk of its utility and value to be generated passively with simple, interactive systems which will not require daily input from the users,” said Alvin Leong, Co-Founder of Footiverse.
One feature that allows users to earn passive rewards is the Footiverse Dream Coach, where participants can also accumulate points based on the performances of the players in their dream team. These points are calculated based on individual players’ stats in each game — such as the number of goals scored, assists made, passes completed, and more, with the final scores tabulated and updated weekly, as summarised below;
Participants compete with their team in leagues to win prizes, or compete in the Footiverse fantasy league.
Participants complete a set of players for extra bonuses or trade with others to complete sets or build teams.
Earn royalties from being the first to own a NFT or from creating an NFT.
There will be two royalty systems that reward players for engaging productively with the market. The first stream rewards users for being the first owner of a player card and giving them royalty rights to all subsequent transactions. The second stream allows users to generate their own NFTs which can then be sold and traded with all transactions earning the original creator royalties with Premium NFT sales beginning on the 18th of January 2023.
Also available as an alternative stream of investment for participants are Footi Tokens. Footi tokens, just like its NFT counterpart, is a utility driven crypto. The token sales will begin on the 28th of January, while the initial decentralised exchange (DEX) offering initial dex offering (IDO) will be taking place on 8th February 2023. These tokens provide a simple streamlined experience for users, serving as both an in-game currency and a practical crypto which can be used for external purchases. This removes the hassle of swapping and finding buyers for in-game currency and lets users instantly conduct crypto to fiat conversion at a moment’s notice, as summarised below;
Pay for gas fees
Make in-game and in-world purchases
Spend across multiple platforms (licensed gaming networks)
Conduct crypto to fiat conversions (Savvixpay)
Conduct Web 3.0 commerce or convert pre-existing Web 2 businesses to Web 3
Participate in decentralized autonomous organization (DAO) voting
For more information on Footiverse, kindly visit www.footiverse.com.
Footiverse is a Singapore-based football fantasy league metaverse creator with NFT launches that focus on the entire APAC region. The platform releases avatars in collections that are based on real life football leagues, including La Liga, Bundesliga, and more, with the first and most recent being the world cup collection currently available on the largest NFT marketplace, OpenSea (opensea.io/collection/footiversewc2022).
The Oracle of Omaha never saw a future in cryptocurrency.
Yahoo Finance Live's Seana Smith and Dave Briggs take a look at several of the day's top trending stocks, including Microsoft's investment in OpenAI's ChatGPT, Salesforce's latest activist investors, and semiconductor stocks.
Tough times are coming — but that doesn't mean you can't make money.
Elon Musk testified Monday he believed he had funding secured to take Tesla Inc. private in 2018, both from a Saudi Arabian investment fund and from his stake in SpaceX, and one of his key tweets on the matter was "absolutely truthful."
Tax season is starting for all Americans — but the tax code’s provisions play out very differently for white families compared to families of color, new research says. The tax benefits from some of the most advantageous parts of the federal income-tax code accrue disproportionately to white families, according to Treasury Department findings that show the broader implications of dry tax rules. White families are pulling in more than 90% of the tax benefits that come from lower tax rates for capital gains, more than 90% of the tax benefits from itemized charitable deductions and 90% of the deduction attached to qualified business income — all while representing an estimated 67% of families, researchers said.
(Bloomberg) — Google’s chief executive officer told employees on Monday that job cuts were made in a bid to act decisively as the company’s growth slowed.Most Read from BloombergCitadel’s $16 Billion Win Tops Paulson’s Greatest Trade EverHow Apple’s Upcoming Mixed-Reality Headset Will WorkSpotify Will Cut About 6% of Jobs in Latest Tech LayoffsEurope Is Bracing for a Sharp, Abrupt Real Estate ReversalSuspect in Shooting Near Los Angeles Has Killed HimselfIn an internal meeting, Sundar Pichai, w
Shares of Apple (NASDAQ: AAPL) were moving higher today after two analysts reiterated buy ratings on the FAANG stock with one noting that Apple seems likely to beat its own vague guidance due to the weakening dollar. In a note this morning, UBS analyst David Vogt maintained his buy rating and a price target of $180 on the stock, noting that his earlier decision to lower his estimates on supply chain issues didn't account for the weakening dollar, especially against currencies in Apple's top foreign markets like Europe, the U.K., China, and Japan. On its fiscal fourth-quarter earnings call, Apple had guided for a 10 percentage-point headwind in foreign currency, but Vogt believes the actual headwind will be four to five percentage points less than that.
The earnings preannouncement from Siemens Energy disappointed its shareholders, but there were plenty of positive takeaways for GE shareholders.
Barclays has some advice for semiconductor investors today — but I think you should do the opposite.
George Gianarikas, Canaccord Genuity Managing Director, explains why investors should buy Tesla stocks ahead of its Q4 earnings. You can see the entire interview here. Key takeaways 00:03: why it's 'simple' you should buy Tesla into earnings 00:36: The big 'question mark' going into earnings
Warren Buffett believes in investing for the long term. Holding a stock for the long term allows you to benefit from the company's earnings growth, in some cases dividends, and overall development in its industry. Let's check out two of the best Buffett stocks to buy for the long haul.
What happened Shares of Advanced Micro Devices (NASDAQ: AMD) jumped on Monday, following bullish analyst remarks. By the close of trading, AMD's stock price was up more than 9%. So what Barclays analyst Blayne Curtis placed an overweight rating on AMD's shares.
Federal prosecutors have seized money from bank accounts and crypto assets belonging to the FTX founder.
The inflation-adjusted income thresholds for the seven tax brackets jumped by more than 7% from 2022.
“The final stages of the bear market are always the trickiest,” Morgan Stanley’s CIO Mike Wilson wrote on Sunday. “We’re not biting on this recent rally.”
Yahoo Finance Live anchors discuss the earnings expectations for tech companies like Microsoft and Tesla.
Investing money can help you build wealth, but taxes can take a big bite out of your earnings. Following a buy, borrow, die strategy is one way to minimize your tax liability and preserve more of your wealth. The concept … Continue reading → The post Buy, Borrow, Die: How the Rich Avoid Taxes appeared first on SmartAsset Blog.
Meta Platforms, Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $META performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.
Investors were more than cheered by a business update from cancer-focused biotech Iovance Biotherapeutics (NASDAQ: IOVA) on Monday. For Proleukin, an interleukin-2 molecule used to stimulate T-cell activity in the fight against cancer, Iovance is making an upfront payment of 166.7 million British pounds ($206.6 million). It is also on the hook for a 41.7 million pound ($51.7 million) milestone payment upon first approval of its leading pipeline therapy, advanced melanoma treatment Lifileucel, and what it described only as double-digit worldwide sales royalties derived from Proleukin.
Shares of electric truck maker Nikola (NASDAQ: NKLA) spiked higher Monday morning after the company announced another step forward for its hydrogen fuel-cell electric vehicle (FCEV). The stock had jumped 8% as of 10:30 a.m. ET. Nikola started selling its battery-electric heavy trucks last year, and expects to begin production of its hydrogen FCEV this year.
Get detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.
The #1 course for profit in the Crypto & NFT world - You will discover the secrets that 99% of people don’t know yet