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Solana Ventures, Twitch co-founder buy into Bravo Ready’s play-to-earn, Web3 video game




Bravo Ready has secured $3.9 million in fiat and cryptocurrency.

Montréal gaming studio Bravo Ready has raised $3.9 million in seed financing to support the development of BR1: Infinite Royale.

BR1: Infinite Royale is Bravo Ready’s flagship, Solana blockchain-based video game. It is a first and third-person battle royale shooter that combines Web3 and traditional gaming, allowing users to purchase NFT characters and earn SOL, Solana’s native cryptocurrency, for every kill they amass.

According to Ryer, initial NFT hype led to a flood of “random, no utility, no value crypto projects” that drained liquidity from the market.

Bravo Ready co-founder and CEO Evan Ryer grew up playing a lot of video games—his personal favourites were online role-playing games like RuneScape, World of Warcraft, and Rust. But despite this love, Ryer saw a fundamental issue with their return on investment.

“The biggest problem with these games … is it’s truly a waste of time,” Ryer told BetaKit in an interview. “You’re committing time to these games, levelling up guns to get skins, or aggregating resources to build things … And no matter what, you see 1,000 hours in the top left corner of your screen, and there’s no liquidity for it.”

Ryer believes that gamers should be rewarded for the time they spend playing video games, and that items they accumulate while playing “should be liquid and transactable.”

Solana Ventures and Twitch co-founder Justin Kan also believe in Ryer’s vision, as both have invested in Bravo Ready as part of its seed round. Investors also included 6th Man Ventures and Shima Capital.

“People want this,” claimed Ryer. “They’re going to build it [and] it is a race to delivery on this concept.”

The financing, which represents Bravo Ready’s first round of venture capital, was raised via a SAFE with a token warrant that enables investors to acquire a Bravo Ready token should the startup decide to launch one in the future. According to Ryer, approximately half of the $3.9 million total came in cash and half in USDC, a stablecoin pegged to the US dollar. Bravo Ready also hopes to close an additional $650,000 as part of the round.

RELATED: As crypto crashes, WonderFi closes deal to acquire another regulated crypto trading platform in Coinberry

The startup first launched the game earlier this year. Since then, cryptocurrency asset prices have collapsed, over $2 trillion USD in value has been wiped out, and the NFT market has seen sales flatline in recent months.

In these conditions, Ryer said Bravo Ready has seen a “huge decrease” in NFT trading volume across all secondary markets, which is notable given that part of the startup’s revenue is derived from a royalty on secondary market sales. The startup has also noticed a decline in the number of new participants joining the NFT ecosystem, and a drop in the value of its SOL holdings, as the Solana token currently trades at $38.36 USD—far below its 90-day high of $115.81.

Ryer is not deterred, though. He believes this fall will be a good thing for the ecosystem over the long-run. “People lost a lot of capital, and that’s so disappointing, and it sucks,” said Ryer. “But the amount of due diligence that companies are doing now is through the roof, and as a result, we have these very high quality projects that are emerging from the dust.”

“We’re hoping the market cycle over the next two years results in a lot of these VC-backed projects delivering the future of gaming, the future of Solana, the future of NFT projects,” said Ryer.

Speaking to the rapid rise, and now decline, of NFTs, Ryer claimed that the market quickly became “flooded with random, no utility, no value crypto projects” that drained the liquidity from the NFT trading space.

“In the NFT space, we’ve seen a lot of low-quality projects,” said Ryer. “There was this hype that originated about two and a half years ago around trading cards and collectibles … what originally started as this run on collectibles quickly translated into the popularity around NFTs.”

Vancouver-based Dapper Labs was one of the players that capitalized on this trend with NBA Top Shot.

RELATED: White Star Capital, Coveo alum-led Lighthouse Labs closes $9.1 million CAD to build a search platform for the metaverse

According to Ryer, the flooding of the market has led to “huge resentment” for projects that ultimately never delivered and a lack of belief in founders and builders in the sector. “This creates a lot of FUD—fear, uncertainty, and doubt—and then you pair that with an economic collapse, a socio-political collapse [and] it’s the perfect storm.”

The world of crypto gaming is growing, to what degree these games will be able to reach people outside of the Web3 world—including traditional gamers who aren’t already crypto-savvy—remains to be seen.

RELATED: Our Lady Peace’s Raine Maida says creators can’t afford not to take advantage of Web3, NFTs

Some existing players have been shaken by the recent downfall of one of the world’s most popular Web3 games. Earlier this year, hackers breached the blockchain that powers Axie Infinity and stole more than $600 million USD worth of cryptocurrencies from users’ accounts.

Another issue is, as Horizon Blockchain Games’ co-founder and chief storyteller Michael Sanders previously told BetaKit, “most Web3 games that we’ve seen thus far are—they’re crap, like they’re bad experiences. They are financial tools masquerading as a game.”

Toronto-based Horizon Blockchain Games and other Web3 developers believe it is possible to build good Web3 games by focusing first on providing a quality gaming experience. Bravo Ready co-founder and CTO Jon Cohen agrees. “In Web3 gaming, the game always needs to come first and the economic model has to support the game,” said Cohen.

“People lost a lot of capital, and that’s so disappointing, and it sucks … But the amount of due diligence that companies are doing now is through the roof.”

Bravo Ready wants to bring the play-to-earn idea to the already-popular free-to-play, last person standing, battle royale-style shooter games. Games that were popularized by the launch of PUBG Studios’ PlayerUnknown’s Battlegrounds and Epic Games’ Fortnite in 2017.

Bravo Ready’s game requires users to pay a small entry fee to spawn, and gives them the chance to earn other players’ entry fees or 10 percent of the wealth on them by killing them. Players spawn at the edge of a remote island and work their way towards the centre.

Bravo Ready plans to use the funding to grow its 18-person team to 25 to accelerate its deployment of the desktop version of BR1: Infinite Royale, which Ryer said “has to be scaled significantly” in order to support more users.

The startup also sees an opportunity to expand into the mobile space as well: last month, Solana announced plans to roll out its own Web3 Android phone as early as 2023. “We very much would like to drop a mobile-based version of the game sooner [rather] than later, so that we could potentially get it onto the Solana phone,” said Ryer.

Feature image courtesy Bravo Ready.

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Tulip Protocol Officially Integrates Chainlink on Solana Mainnet




Tulip Protocol Officially Integrates Chainlink on Solana Mainnet

Today, Tulip Protocol made the announcement that they have integrated Chainlink Price Feeds in order to better secure their yield aggregating platform that is running on the Solana mainnet. The team had previously stated their intention to integrate Chainlink Price Feeds, and at this point, the connection has been completely put into action. Chainlink is the premier decentralized oracle network in the world, safeguarding tens of billions of dollars in smart contracts. It has diversified its offerings across other blockchains, notably Solana, Fantom, Polygon, BNB Chain, and others.

In a recent blog post, the team behind the Tulip Protocol explained that they had integrated Chainlink to provide users with more confidence that leveraged positions will be liquidated equitably using extremely accurate price data and that the protocol will continue to be completely collateralized at all times.

According to Tomasz Wojewoda, Head of Global Sales at Chainlink Labs:

“We’re pleased that Tulip Protocol has integrated Chainlink Price Feeds on Solana, helping secure its yield aggregation protocol with highly robust, decentralized market data. With the high-throughput performance of Solana and the strong security guarantees of the Chainlink Network, Tulip Protocol is able to empower users with a performant and secure platform.”

Tulip Protocol Seeks To Take Advantage Of Solana

Tulip Protocol brings together lenders who receive a return on their deposits and borrowers who are interested in gaining access to leverage. Users who initiate leverage positions are responsible for maintaining a loan-to-value (LTV) ratio that has been previously established. The Tulip Protocol then uses the asset price data that is provided by Chainlink Price Feeds to verify that this ratio is accurate. If the value of the collateral falls below the threshold that was established by the protocol, then their position will be immediately liquidated to assist in guaranteeing that the lenders will be repaid.

Tulip Protocol intends to capitalize on Solana by giving users the ability to more regularly reinvest their income and grow their assets without having to pay exorbitant amounts of gas expenses. Chainlink oracles can now be natively integrated on Solana, making it possible for Solana-based applications to benefit from enhanced levels of security and transparency. Yesterday, OpenOcean made the announcement that they would be integrating Chainlink Price Feeds in order to help secure the limited order functionality on many chains. These chains include Avalanche, Ethereum, Polygon, Fantom, and BNB Chain.

According to Senx, Co-Founder of Tulip Protocol:

 “We’re excited to be using Chainlink Price Feeds on Solana to help secure our yield aggregation platform. By leveraging the most secure and reliable on-chain data available, we’re able to provide our lenders and borrowers with greater assurances that liquidations are based on accurate price data, and the protocol will maintain a healthy loan-to-value ratio through all market conditions.” 

Allowing Stakers To Benefit From Higher APYs

Natives of the blockchain as well as newcomers to the technology are beginning to understand that decentralization does not necessarily equate to a secure platform. Given that Web3 services are currently disclosing their susceptibilities to attacks from both within and outside the network, further initiatives should be undertaken to improve the safety of user assets. Fortunately, a growing number of blockchain businesses are beginning to add various levels of security to their services in order to solidify the trust of their existing customers and attract additional investors in the near and distant future.

Tulip Protocol is the very first yield aggregation platform to be built on Solana, and it features auto-compounding vault techniques. The dApp was developed to make use of Solana’s blockchain, which has a low cost and high efficiency, hence enabling the vault techniques to compound frequently. Stakeholders are able to reap the benefits of greater APYs as a result, without the need for active management.

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Is your SOL safe? What we know about the Solana hack




On this week’s episode of “The Market Report,” Cointelegraph’s resident experts discuss the latest updates concerning the recent Solana (SOL) hack.

To kick things off, we broke down the latest news in the markets this week:

Bitcoin realized price bands form key resistance as bulls lose $24K, significant whale activity between $22,000 and $24,800 adds to the complexity of the current spot market setup. Bitcoin (BTC) consolidated lower on Aug. 9 after familiar resistance preserved a multi-month trading range. When will we finally break out of this price range and make the move towards $30K?

Institutions flocking to Ethereum for 7 straight weeks as Merge nears: Report, “Greater clarity” around the Merge has driven institutional inflows into Ethereum products, according to a CoinShares report. Is the ETH merge finally around the corner and will it bring new all time highs to ETH or has the price already been factored into the current price?

Circle freezes blacklisted Tornado Cash smart contract addresses, Crypto data aggregator Dune Analytics said that, on Monday, Circle, the issuer of the USD Coin (USDC) stablecoin, froze over 75,000 USDC worth of funds linked to the 44 Tornado Cash addresses sanctioned by the U.S. Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons (SDN) list. Could this mark the end for Tornado Cash or is there a way they can redeem themselves?

Next up is a new segment called “Quick Crypto Tips,” which aims to give newcomers to the crypto industry quick and easy tips to get the most out of their experience. This week’s tip: Have some funds ready to buy further downturns.

Market expert Marcel Pechman then carefully examines the Bitcoin and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. The experts also go over some markets news to bring you up to date on the latest regarding the top two cryptocurrencies.

After Marcel’s market analysis, our resident experts discuss whether your SOL is safe and the latest updates on the Solana hack. We also discuss why the network has been victim to so many hacks and downtimes. What exactly do these exploits mean for the Solana platform and if you should be worried.

Lastly, we’ve got insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. The analysts use Cointelegraph Markets Pro to identify two altcoins that stood out this week: Radicle’s RAD and DigiByte’s DGB.

Do you have a question about a coin or topic not covered here? Don’t worry. Join the YouTube chat room, and write your questions there. The person with the most interesting comment or question will be given a 1 month free subscription to markets Pro worth $100!

The Market Report streams live every Tuesday at 12:00 pm ET (4:00 pm UTC), so be sure to head on over to Cointelegraph’s YouTube page and smash those like and subscribe buttons for all our future videos and updates.

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Web3-Based ZepetoX to Build on Solana




Web3-Based ZepetoX to Build on Solana

Singapore, Singapore , Aug. 09, 2022 (GLOBE NEWSWIRE) — Today, the ZepetoX team (ZTX, announced its foray into the web3 space, sharing its vision to build an open world that empowers creators and communities to build, play and earn.

ZepetoX is the crypto metaverse initiative jointly incubated by ZEPETO – Asia’s largest metaverse platform with over 320 million registered users – alongside leading global blockchain organizations including Jump Crypto.

As the sole blockchain project comprehensively backed by ZEPETO, ZepetoX will have exclusive ties to ZEPETO in terms of IP including technological, design, and content assets as well as bridges to facilitate user onboarding between the two platforms. ZepetoX’s blockchain development efforts will be advised by Jump.

“ZepetoX is our official venture into the blockchain industry. We feel that web3 opportunities should be advanced through a crypto-native approach, which is why we are excited to have Jump as a contributor to developing a new platform that would have exclusive connections to ZEPETO. Overall, we believe that ZepetoX can build the ideal web3 platform to not only bring blockchain to our existing users but also to expand our footprint in the blockchain space through various disruptive initiatives,” said Daewook Kim, CEO of Naver Z – the operating entity of ZEPETO.

“We are excited to support ZepetoX’s efforts aimed at onboarding new audiences into the rapidly growing crypto space. ZEPETO’s expertise and technological know-hows accumulated over the past years from building an immersive social platform will serve as a springboard for ZepetoX,” said Saurabh Sharma, Partner at Jump Crypto.

Building on the Solana network, ZepetoX will offer a web-based 3D open world with varying levels of gamification integrated as well as opportunities for users to monetize via ownership of digital assets and social interaction. Ultimately, ZepetoX aims to empower self-expression through customizable avatars and lands that can be equipped with NFTs from a rich collection of assets created by diverse creators, DAOs, or communities.

“I am thrilled to see IP powerhouses like ZepetoX choosing to build their metaverse on Solana,” said Anatoly Yakovenko, Co-Founder of Solana. “Projects like ZepetoX create new pathways for onboarding millions of users to web3.”

“Our global team brings a depth of crypto native experiences and our goal is to build on the foundation of ZEPETO to spearhead the adoption of blockchain among metaverse users, developers, and creators,” said co-CEO of ZepetoX, Chris Chang.

In the coming months, ZepetoX will launch its first land sale. The lands will be tradable on the ZepetoX marketplace, which will feature a variety of different NFTs as the open world project evolves. Further details on the sale will be available on the ZepetoX website in the coming weeks.

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About ZepetoX: ZepetoX (ZTX) is a web3 company building an immersive content-driven platform for users to create, trade digital assets and enjoy social interaction. Founded in 2022, ZepetoX is the blockchain initiative of ZEPETO, widely regarded as the largest Asia-based metaverse platform boasting over 320 million lifetime users with over 2.5 billion virtual fashion items sold.



News Via KISS PR Crypto Press Release Distribution Media Contact

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