RIYADH: Bitcoin, the leading cryptocurrency internationally, traded higher on Tuesday, up 4.53 percent to $40,687 as of 09.00 a.m. Riyadh time.
Ether, the second most traded cryptocurrency, was priced at $3,038, down 4.24 percent, according to data from Coindesk.
Gaming platforms FlickPlay, The Sandbox take steps toward metaverse
Gaming companies FlickPlay and The Sandbox announced a new partnership on Monday that will allow players to use a blockchain asset on both platforms, representing a key step in the building of the metaverse.
The idea of the metaverse involves people moving freely between virtual worlds on different platforms and taking their virtual clothing and other belongings with them, a concept called interoperability.
FlickPlay is an app where players can unlock digital collectibles by using an interactive map of their actual surroundings, and then use their phone’s camera to overlay the collectibles onto the real world and interact with the objects to make videos and other content.
We are partnering with the #Metaverse Social Platform @flickplayapp!
Through this partnership, The Sandbox community will be able to own a Flicky, and claim different Sandbox utilities tied to Flicky Traits
Get the details https://t.co/Zt56FxrQOO
— The Sandbox (@TheSandboxGame) April 18, 2022
On Monday, the app announced its first collection of NFTs called Flicky, which will feature designs of an anthropomorphic chameleon wearing different clothes.
A portion of people who acquire a Flicky will be able to use the NFT as their avatar on The Sandbox, a web and mobile game where players can build a three-dimensional virtual world.
IPO
Crypto startup Blockchain.com is interviewing banks for an initial public offering that could happen this year, Bloomberg reported.
The IPO may not happen until next year and the company's plans may change, according to people familiar with the matter.
Blockchain.com said in March it was worth about $14 billion in a funding round.
That funding was led by Lightspeed Venture Partners with major participation from Baillie Gifford & Co, Blockchain.com said.
Argentina crypto innovation hub
Argentina's Securities Regulatory Authority launches innovation hub to discuss regulated crypto investments.
The National Securities Commission, which is the Argentinian securities watchdog, recently launched an innovation hub, with the aim of promoting conversations about cryptocurrency and fintech investments.
This organization will act as a link between private entities and the institution, to bring new financial technology and crypto-regulated tools to the market technologies.
“We are being proactive in the context of the emergence of crypto assets and fintech, to work together with the sector and generate a regulatory and policy framework in this regard,” Andres Consentino, president of the National Securities Commission, said.
One of the main concerns behind this new hub, and one of the motivations for its launch, is the number of cryptocurrency scams that have happened in the country since cryptocurrency adoption peaked.
“This initiative also aims to improve the protection framework for the investor against phenomena of quite unfortunate circumstances that usually occur,” Consentino added.
India says cryptos behind money laundering
Meanwhile, Indian finance minister Nirmala Sitharaman has warned that the biggest risk of cryptocurrency could be money laundering and its use for financing terror.
“I think the biggest risk for all countries across the board will be the money laundering aspect and also the aspect of currency being used for financing terror,” said Sitharaman at a seminar during the ongoing spring meet of the International Monetary Fund.
She also added that regulation using technology is the only solution to address the threats posed by cryptocurrencies in matters of national security.
(With inputs from Reuters)
