In this recap of the crypto world, we will explore the events and news that had the most significant impact in the past week of Dec 25. Our focus will be on the following developments:
● Nifty Island Unveils the Airdrop Mechanics for its Token Distribution
● MicroStrategy Continues to DCA in BTC
● PancakeSwap Proposes to Reduce the Token Supply of CAKE
● Pixel Vault Announces Alpha Launch of Battle-Plan
Nifty Island Unveils the Airdrop Mechanics for its Token Distribution
Play-to-Airdrop (P2A) has emerged as the new meta, providing game studios with a novel way to engage and reward their communities. Embracing this trend, Nifty Island, a player-owned virtual world powered by NYFT Studio, has unveiled its utility token, $ISLAND.
As per the announcement posted on X/Twitter, Nifty Island’s Play-to-Airdrop event promises the Web3 community a fair and engaging opportunity to earn $ISLAND tokens. Starting on January 17th, anyone interested can actively participate in the game to accumulate $ISLAND tokens. However, holders of Nifty Island Palms will enjoy an extra earnings boost during the Play-to-Airdrop event.
Furthermore, there are said to be bonus rewards for players holding NFTs from collaborating collections. The collaboration includes iconic avatars from renowned NFT projects like Azuki, Bored Apes, CoolCats, CyberKongz, Pudgy Penguins, y00ts, and more. Participants from these projects can look forward to experiences designed to resonate with their respective communities. This approach not only fosters inclusivity but also showcases the versatility of the Nifty Island platform.
MicroStrategy Continues to DCA in BTC
MicroStrategy, the business intelligence firm, has once again demonstrated its bullish stance on Bitcoin, with a strategic approach to Dollar-Cost Averaging (DCA), making headlines with its recent acquisition of 14,620 BTC, valued at approximately $616 million. This move comes in the wake of a substantial $593.3 million Bitcoin purchase in November, solidifying MicroStrategy’s position as the largest corporate holder of the cryptocurrency.
MicroStrategy’s journey into the world of Bitcoin began in 2020 under the leadership of CEO Michael Saylor. Over the past two years, the company has relentlessly pursued its Bitcoin accumulation strategy, amassing a staggering 189,150 BTC at an average price of approximately $31K per coin. With the current market value of Bitcoin hovering around $43,000, MicroStrategy’s holdings are worth over $8 billion.
The latest round of Bitcoin acquisitions by MicroStrategy unfolded between November 30 and December 26. This continuous accumulation not only reaffirms MicroStrategy’s confidence in Bitcoin but also amplifies its status as a major player shaping the institutional landscape of digital assets. Read more on this here.
PancakeSwap Proposes to Reduce the Token Supply of CAKE
PancakeSwap, a decentralized exchange that has left a distinct imprint on the crypto DeFi space, is set to spice things up. The platform has recently announced a proposal that seeks to reduce the total supply of its $CAKE token. This initiative marks a departure from the original inflationary tokenomics model, signaling a shift towards a more deflationary system.
As per the proposal, PancakeSwap developers are looking to cut the total supply of the $CAKE by 300 million tokens. This reduction would bring the total supply down from 750 million to 450 million tokens. The proposed adjustment is underlined by several key considerations as outlined by PancakeSwap developers. This includes:
- Certainty for the Community
- A Road to Ultrasound $CAKE
- Flexibility for Growth
PancakeSwap’s proposal is now subject to a voting period scheduled for 24 hours, which started on December 28th. If approved, the supply reduction is slated for implementation on January 4th, 2024. Should the proposal garner community approval and be implemented, the reduction in the $CAKE supply could have a positive impact on the token’s value. Read more on this here.
Pixel Vault Announces Alpha Launch of Battle-Plan
Pixel Vault, the pioneering IP expansion company at the intersection of crypto and comics, is set to make waves in the gaming space with the alpha launch of Battle-Plan. This strategic auto-brawler game promises a unique blend of crypto-native assets and classic comic book aesthetics, captivating audiences with its visually stunning universe and engaging gameplay. After a successful playtesting phase, Pixel Vault has officially announced the alpha release of Battle-Plan for January 9th, signaling a significant milestone in the company’s venture into the world of gaming.
Featuring core heroes from Pixel Vault’s expansive universe, the game distinguishes itself with its instantly recognizable classic comic book style. In terms of gameplay, Battle-Plan demands strategic prowess from players, even with its automated battles. So, customizing fighters with a set of skills is crucial for gaining an edge over specific opponents.
The game utilizes the Reboot blockchain gaming framework to guarantee transparency and security across different processes. Whether it is random number generation, player ranking, or anti-cheating measures, Battle-Plan incorporates a substantial part of its operations on-chain, delivering a gaming experience that can be publicly verified.
The Alpha release of Battle-Plan assures an inclusive gaming experience accessible to all, including those without a Pixel Vault NFT. Moreover, the game is set to incentivize players with on-chain rewards fueled by Reboot’s $GG token. While successful players would have the opportunity to earn rare in-game items, NFTs, and assorted prizes, creating an engaging and rewarding gaming ecosystem.
