Crypto Currency

New to Blockchain: Turning In-Game Virtual Goods into Assets

resident CryptoKitty, a cartoon cat with tiger stripes and trembling eyes, for $1.05. Since then, we haven’t seen her much. A so-called “digital collectible,” she lives a lonely life in perpetuity at an address on the Ethereum blockchain: You can look at her, but little else. Soon, though, her digital life could gain a bit…

resident CryptoKitty, a cartoon cat with tiger stripes and trembling eyes, for $1.05. Since then, we haven’t seen her much. A so-called “digital collectible,” she lives a lonely life in perpetuity at an address on the Ethereum blockchain: You can look at her, but little else. Soon, though, her digital life could gain a bit more excitement—in the hands of game developers.

Gregory Barber covers cryptocurrency, blockchain, and artificial intelligence for WIRED.

For developers, the technology that underpins Catoshi offers an intriguing twist on the economics of gaming. Virtual goods are already a $50 billion-plus annual market, making up the bulk of gaming industry revenue as players shell out for the likes of fancier virtual swords and new character outfits. But unlike a CryptoKitty, gamers don’t really own the virtual items they pay for: at the end of the day, they’re pixels that disappear when you delete the game. Companies like Andreessen Horowitz–backed Forte and Hong Kong’s Animoca, which invested in CryptoKitties last year, want to use blockchain technology to turn these ephemeral items into assets.

Kevin Chou, Forte’s CEO, previously founded Kabam, the mobile gaming company that was a pioneer of the so-called freemium model: Games that are free to download and don’t require a fancy console to play, but generate revenue by selling virtual goods. Chou’s insight was that people increasingly live their lives online, and put real value on their virtual experience. “Imagine a person who’s spending three or four hours a day playing a game and is plugged into the community, talking about what’s going on in their lives with their friends,” he says. That makes people more likely to pay for virtual items, whether to unlock new types of gameplay or simply because they look pretty. Kabam sold for nearly $1 billion in 2017, primarily to South Korea’s Netmarble.

But Chou says in-game economies have grown so complicated that developers have trouble overseeing them. As a result, they place limits. Game developers typically sell goods directly to gamers and keep a firm grip on the levers of supply and demand. There’s no mechanism for players to sell the virtual items among themselves—because they don’t actually own the things. “Right now these are basically command-and-control economies,” says Brett Seyler, Forte’s chief platform officer.

Some players find loopholes to buy and sell their in-game spoils.CounterStrike: Global Offensive, a popular multiplayer shooting game, became notorious for supporting billions of dollars in bets that use decorative virtual weapons, known as “skins,” as gambling chips to wager

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Crypto Currency

Learn how to invest in cryptocurrencies with this set of online classes

TL;DR: The Complete Cryptocurrency Investment bundle is on sale for £19.21 as of June 25, saving you 94% on list price. If we’re to believe every plot point from the movie The Social Network, Mark Zuckerberg allegedly stole the idea for Facebook from the Winklevoss twins and went on to become one of the youngest…

TL;DR: The Complete Cryptocurrency Investment bundle is on sale for £19.21 as of June 25, saving you 94% on list price.


If we’re to believe every plot point from the movie The Social Network, Mark Zuckerberg allegedly stole the idea for Facebook from the Winklevoss twins and went on to become one of the youngest billionaires ever. 

Things ended up working out for the Winklevoss brothers, though. They received a $65 million settlement and competed in the 2008 Beijing Olympics, but they still weren’t a member of the prestigious billionaire club. That changed when they finally became billionaires thanks to Bitcoin. 

For the uninitiated, Bitcoin is a digital payment system and cryptocurrency that’s not tied to any country or bank. Bitcoin sometimes gets a bad rap for being associated with criminals and the dark web, but there are many advantages to using a decentralised system.

Even if you don’t have a $65 million to invest, you can still learn how to make mone

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Crypto Currency

Forget PS5: A Fake Spoof Console is Embarrassing the Xbox Series X

KFC Gamings reveal of a new, next-generation console generates more views on social media than the Xbox Series X.The console reveal, a joke response to the PS5 reveal event, has doub…

  • KFC Gamings reveal of a new, next-generation console generates more views on social media than the Xbox Series X.
  • The console reveal, a joke response to the PS5 reveal event, has doub…
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Crypto Currency

Someone paid $2.6 million in fees to move $134 worth of crypto and oops

There are typos, and then there are typos.  Someone appears to have made a mistake this morning when transferring the cryptocurrency ether (ETH), the younger sibling to bitcoin, from one digital wallet to another. After all, when moving around $134 dollars worth of digital currency, it hardly seems like anyone would intentionally pay a $2.6…

There are typos, and then there are typos

Someone appears to have made a mistake this morning when transferring the cryptocurrency ether (ETH), the younger sibling to bitcoin, from one digital wallet to another. After all, when moving around $134 dollars worth of digital currency, it hardly seems like anyone would intentionally pay a $2.6 million fee — and yet that’s exactly what happened. 

That’s right. Someone paid 10,668.73185 ETH, worth approximately $2.6 million at the time, to move 0.55 ETH from one wallet to another. The transaction, in all its painful glory, is visible on Etherscan — a tool for viewing and searching ETH transactions. 

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Crypto Currency

Hartley Sawyer Fired For Racist Tweets – You’re Next, Ellen Degeneres

Hartley Sawyer of The Flash has just been fired after his racist, misogynistic tweets surface.Hes far from the only celebrity with racist social media posts in the past.Its …

  • Hartley Sawyer of The Flash has just been fired after his racist, misogynistic tweets surface.
  • Hes far from the only celebrity with racist social media posts in the past.
  • Its …
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