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Decentralized Social Metaverse ‘Gamium’ Partners with Binance NFT and Galler.io

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Decentralized Social Metaverse ‘Gamium’ Partners with Binance NFT and Galler.io

The decentralized social metaverse project, ‘Gamium’, has announced partnerships with Binance NFT and Galler.io as part of its mission to provide a better Metaverse experience for its users.

Gamium Partners with Binance NFT and Galler.io

Gamium, a Web3 and Metaverse technology company, has formed partnerships with Binance NFT and Galler.io. to better work towards providing a premium metaverse experience.

The collaboration will see Binance NFT and Galler.io host fun and immersive virtual events at Gamium’s ‘Oasys Museum’. They will also set out to create an immersive virtual building within Gamium that will play host to an array of activities and events for the community’s enjoyment.

According to a spokesperson from Gamium, the partnership will also open up a portal for users to “buy Gamium Lands on both platforms.” Gamium will also be desigining a building for Binance NFT within the Gamium metaverse.

Gamium – The Decentralized Social Metaverse

To prevent the issue of the fragmentation faced by the blockchain industry from creeping into the metaverse, which has only just started gaining traction, Gamium is infusing interoperability into the metaverse.

Gamium aims to create the first decentralized social metaverse featuring avatars that can be used across all Web 3.0 applications. These customizable Gamium avatars are multi-metaverse compatible.

On the Flipside

  • Binance has disabled its derivatives services in Spain, and is now seeking regulatory approval from the Comisión Nacional del Mercado de Valores (CNMV).

Why You Should Care

By integrating interoperability into the metaverse, Gamium hopes to accelerate its adoption.

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Cryptocurrency

Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine?

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Was Terra’s UST cataclysm the canary in the algorithmic stablecoin coal mine?

The past week has not been an easy one. After the collapse of the third-largest stablecoin (UST) and what used to be the second-largest blockchain after Ethereum (Terra), the depeg contagion seems to be spreading wider.

While UST has completely depegged from the U.S. dollar, trading at sub $0.1 at the time of writing, other stablecoins also experienced a short period where they also lost their dollar peg due to the market-wide panic.

USDT/USD last week from May. 8–14th. Source: CoinMarketCap
FRAX, MIM, FEI and LUSD price from May. 9 – 15th. Source: CoinMarketCap

Asset-backed stablecoins were in favor during downturn, except for USDT

USDT, USDC and DAI hourly price. Source: CoinGecko API
Curve DAI/USDC/USDT 3Pool proportion. Source: @elenahoo Dune Analytics
Curve DAI/USDC/USDT/sUSD 4Pool proportion. Source: @elenahoo Dune Analytics

Are algorithmic stablecoins finished?

Curve FRAX/3CRV 3Pool proportion. Source: @elenahoo Dune Analytics
Curve MIM/3CRV 3Pool proportion. Source: @elenahoo Dune Analytics

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Meta trademark filing hints at plans for crypto payments platform

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Meta trademark filing hints at plans for crypto payments platform

Social media giant Facebook (NASDAQ:FB)’s parent company, Meta, may be planning to launch a payments platform with support for cryptocurrency.

According to records submitted to the United States Patent and Trademark Office, or USPTO, on May 13, Meta filed five applications for its namesake to be used in a platform called Meta Pay. The filings included Meta’s name for use in a “online social networking service for investors allowing financial trades and exchange of digital currency, virtual currency, cryptocurrency, digital and blockchain assets, digitized assets, digital tokens, crypto tokens and utility tokens.”

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Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

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Price analysis 5/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

On May 17, United States Federal Reserve Chairman Jerome Powell told the Wall Street Journal that the 50-basis-point rate hikes would continue until inflation is under control. Powell’s emphasis on a hawkish policy suggests that monetary conditions are likely to remain tight in 2022, which could limit the upside in risky assets.

On-chain market intelligence firm Glassnode said that historically, Bitcoin (BTC) has bottomed out when the price breaks below the realized price. However, barring the 2019 to 2020 bear market, during previous bear cycles, Bitcoin’s price stayed below the realized price for anywhere between 114 to 299 days. This suggests that if macro situations are not favorable, a quick recovery is unlikely.

Daily cryptocurrency market performance. Source: Coin360

BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
AVAX/USDT daily chart. Source: TradingView
SHIB/USDT daily chart. Source: TradingView

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