In today’s letter:
🔥Crypto games raised $ 2.5 billion in Q1
🔥ApeCoin hit a monthly record after rumors of metaverse land sale
🔥The US government has sanctioned the Russian Bitcoin miner
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🔥Crypto games raised $ 2.5 billion in Q1
The hype in crypto games goes hand in hand with metaverse. The niche is growing rapidly, especially according to the latest study by DappRadar.
According to the report, $2.5 billion was poured into the sector just for the year's first three months. The ballooning number could get even bigger, with developers expecting $10 billion by the end of 2022.
Compared to the previous year, the niche has become a major factor for the entire crypto industry. In all 12 months of 2021, crypto games have raised a total of $ 4 billion in investment.
DappRadar also reports a spike in the number of active users. For the previous month, blockchain games attracted 1.22 million active unique wallets. The report also says that activity has increased by 2000% compared to Q1 2021.
Despite the declining interest in NFTs, the market is currently preparing for a new upswing, accompanied by raising capital and building new projects.
Meme of the day:
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🔥ApeCoin hit a monthly record after rumors of metaverse land sale
Yesterday ApeCoin (APE), the Ethereum Token of the NFT collection Bored Ape Yacht Club (BAYC) reached a price of $17. However, as of writing, the price is $14.86.
One of the reasons for the growth may be that the token was listed on Gemini Earn, but more important is certainly the rumor about the metaverse land sales.
According to inside information, the company behind BAYC, Yuga Labs, is preparing to sell meta-land with a starting price of 600 APE tokens.
The person familiar with the matter also says that the project called Otherside will also give free tokens to the owners of BAYC and Mutant Ape Yacht Club.
🔥The US government has sanctioned the Russian Bitcoin miner
The US government has sanctioned Russian Bitcoin miner. Treasury Department's Office of Foreign Asset Control has added the Moscow-based company ButRiver to its Specially Designated Nationals
Ten of ButRiver AG's subsidiaries have also been added to the list.
In history, this is a precedent - Treasury to sanction a crypto mining company. Sanctions are aimed to harm Vladimir Putin and Russia.
According to Treasury: “By operating vast server farms that sell virtual currency mining capacity internationally, these companies help Russia monetize its natural resources.”