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Huobi Global Launches Second Primelist, Offering Investors Access to New GameFi Project

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Huobi Global Launches Second Primelist, Offering Investors Access to New GameFi Project
Huobi Global Launches Second Primelist, Offering Investors Access to New GameFi Project

Huobi Global, one of the world’s leading digital asset exchanges, announced this week the launch of its second Primelist event, offering investors an easy and unique way to access new blockchain projects. The second Primelist project is Gold Fever (NGL), which combines fun and adventure with blockchain technology to achieve an optimal balance between mass adoption and economic utility.

“We are delighted to see 67,000 users across 131 countries participate in our first Primelist event, where they can purchase new tokens with special price incentives. This is what we love to see,”
said Ciara Sun, head of listing and blockchain investments at Huobi Group.

Starting 10:00 (GMT) on Friday 19th November, users will be able to purchase new GameFi assets on Huobi Primelist through queuing for numbered tickets or holding Huobi Tokens. Users who register through either of the two channels will enter into two separate asset pools, which together account for 0.1% of the total new token supply (1.7 million tokens).

“Similar to the first Primelist event, users can purchase new assets directly with USDT without needing to stake a certain number of tokens in advance, and all HT holders participating in the event will be able to acquire new tokens,”
added Ms Sun.

The second Primelist event reflects Huobi’s efforts to cater to the needs of its users’ increasing demand for GameFi projects. The second token to be listed on Primelist will be Gold Fever (NGL), a challenging free-to-play survival RPG hybrid that leverages the power of the blockchain to create a decentralised economy around its limited resources and various NFT items.

“Many investors have heard of our first Primelist project, Immutable X (IMX), whose price change exceeded 4818.75% in 10 minutes after going live on Huobi Global exchange. As a result, they are excited to see this new launch and are expecting another solid performance,”
added Ms Sun.

2nd Primelist Event Details
Method 1: Users who hold a minimum of 50 USDT can purchase NGL tokens through queuing on 19th November. There will be 2,465 lucky users holding numbered tickets between 1 and 2465 who can acquire 50 USDT worth of NGL tokens.

Method 2: Users who hold a minimum average of 300 HT over the two days from 16:00 (GMT) on 16th November to 15:59:59 (GMT) on 18th November will be able to purchase new assets on 19th November. The system will automatically execute the orders and distribute new assets to each participant, based on the formula below:

*The number of new assets distributed to each user = The order amount of a participant (USDT) /the order amount of all participants(USDT)* The number of new assets offered by the platform

How to Participate
To enter the event, users can simply log in on the event page and hold HT and USDT to purchase new assets. Forty minutes after the promotion ends, users will be able to trade NGL on Huobi Global. To learn more about the promotion, click here.

Information provided by FinancialNewsMedia.

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Cryptocurrency

Apple forced Coinbase to remove NFT transfers

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apple nft news

Apple NFT news: Coinbase said Apple is demanding a 30% tax on the gas fee used for NFT transfers. NFT coinbase wallet users can no longer send NFTs due to Apple’s interference. 

Coinbase said it could not meet the requirement even if it tried because the iPhone maker’s own in-app purchasing system does not support cryptocurrency. Note that the current stock price of Apple was not affected by the situation. 

Users affected by this decision, i.e. iPhone owners, will find it “much harder to transfer this NFT to other wallets. Coinbase added that the blockage may have been an oversight, and urged Apple to contact the company with any questions.

Coinbase first announced the NFT coinbase wallet in December 2021, giving users access through the app to trading platforms such as OpenSea. The NFT token issuance and trading platform was conceived as a peer-to-peer marketplace equipped with social platform functionality. This feature should help community members find new NFT tokens and collections.

In November, Apple updated the App Store’s NFT rules, so developers can now sell tokens they have placed on the App Store. However, the new rules prohibit using cryptocurrencies, cryptocurrencies, and QR codes to unlock features in the app. Also, development companies must have a license to operate in the country where the app is sold.

Earlier, we reported that crypto investors intended to achieve the arrest of FTX through protests.



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Tether says its USDT loans are “over-secured”

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borrow USDT

Tether, the issuer of the USDT stablecoin, claimed that the USDT loans it issues are characterized by overcollateralization. This was the project’s response to a recent Wall Street Journal study. In it, WSJ analysts expressed fears that Tether’s current lending practices could trigger a new crisis in the crypto industry.

According to WSJ, Tether lends its own USDT Coins to customers without exchanging them for hard currency. As a consequence, in the event of a crisis, the company may not have enough long-term liquid assets to repay the money you borrow USDT and redeem these coins. So it makes sense to apply for USDT loans to companies that offer the opportunity to pledge various stocks of large companies. For example, at the current stock price of Amazon or another corporation.

Such fears are understandable amid a steady stream of news about the collapse of the FTX crypto exchange and its implications for the crypto market. In particular, the ensuing market collapse may have also contributed to the “erosion” of Tether’s collateral.

In response to these accusations, the project published a post on Twitter with the eloquent title “The hypocrisy of the mainstream media falling asleep at the information wheel.”

The project’s management believes that the WSJ analysts are completely mistaking the USDT kinoin itself for the collateral backing it. Meanwhile, “Tether’s secured loans are characterized by over-collateralization and are even backed by additional equity if necessary.”

According to the company, 82.45% of its reserves are currently held in U.S. Treasuries and other cash equivalents. Meanwhile, the decline in the USDT token is irrelevant to the value of loan collateral. Such fluctuations in quotations are only relevant to the exchange value of the coin itself.

Recall that the project boasts the longest list of accusations against it about insufficient collateralization of its stablecoins and/or lack of transparency of information on this topic.

We previously reported that hackers have stolen $3.37 billion worth of cryptocurrencies since the beginning of the year.

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The market of a metaverse company has reached almost 150 virtual worlds

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a metaverse company

The virtual reality industry has grown to nearly 150 digital worlds in the fourth quarter of 2022, researchers found. The volume of a metaverse company at the end of IV quarter of 2022 was 148 pieces. This was reported by analysts from the consulting firm Metaversed. However, so far, the current stock prices of Meta do not react.

According to the researchers’ calculations, most of the users remain on the projects of Web2. For example, the largest virtual world is fixed in the game-meta universe Roblox, which accounts for about 202 million monthly active players. The price of cryptocurrency for metaverse against this background is growing.

The video game Minecraft is in second place with 174 million active players. Fortnite, with 81 million players, was the third one. Projects with a focus on the Web3 model have a much smaller user audience, but the number of these worlds is much higher than the video games of the Web2 model.

For example, the blockchain game Axie Infinity attracts only 700,000 players per month. In second place is Upland with 600,000 users, and NFTWorlds, a virtual world with 500,000 users, takes third place.

Game metaverse is not a toy

The game industry, for the most part, is skeptical of metaverses and does not see them as different from traditional video games. As BeInCrypto editorial staff wrote earlier, Xbox CEO Phil Spencer thinks that the current implementations of meta-villages are more like “a cheaply made video game”.

Herman Narula, CEO of Improbable, the developer of the metaverse, partially agreed with Spencer. He acknowledged that video games are already inherently mini-metagons. However, according to Narula, meta-villages posit the idea of combining experiences. That said, he agrees that metaverses are many times more attractive to sports leagues and fashion brands than they are to video game developers.

We previously reported that the largest bitcoin miners owned banks $4 billion.

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