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Berachain is a hot topic. The platform was launched just last Thursday, and it has seen more than 2 million transactions.
This is the latest product from the creators of Bong Bears NFTs. A collection of 100 smoking teddy bears was launched on the Ethereum Blockchain in the early 2021 cryptocurrency boom.
Berachain is a Web3 Blockchain using ambitious technology. “Proof of Liquidity,” The idea is that by pooling funds, a long-term sustainable eco-system will be created.
Some aren’t so sure. One executive with connections to a gaming chain told me: “[Berachain] bothers me deeply.” It is not acceptable that the NFT was accumulated first, then a series of chains were built years later.
Smokey the pseudonymous founder of Berachain says, Berachain was an array “happy accidents.”
There’s a new chain on the block. Abstract — which launched last month from the Pudgy Penguins team — continues to hold attention on Crypto Twitter right now, leading some to compare it with Berachain.
In a post that received over 600 likes less than 24h, Berachain was praised for its incentive to whales while Abstract Chain was criticized for catering for humans. “normies and streamers” Abstract’s platform is focused on livestreaming and games.
Abstract currently only allows 750 accounts to livestream (in the last few days I have seen anywhere from 57-75 streamers at one time). Maybe it’ll get more traction than Theta and DLive crypto streaming — or maybe not.
Berachain already has over 35 gaming projects listed on their website. It’s clear that they are a friendly chain. The company has over $1.6billion in liquidity before launch, while Abstract only had $8.49m in TVL as of Thursday.
Berachain, the bear-themed Blockchain has also announced its token airdrop. Berachain has allocated half its token supply (34.3%) to investors. “initial core contributors” (16.8%).
Early testnet users have been irritated by the fact that they only receive a fraction of airdropped tokens (1.65%).
The US is also blocked from many online websites. This includes the BeraHub of this project, as well as its stablecoin HONEY and token and NFT Bridges. Are you able to circumvent this restriction? As I work from South Africa at the moment, I can’t access hub until I activate my VPN. Access denied.
Blockchains will inevitably get compared — but it doesn’t make much sense to compare Berachain and Abstract, Abstract Marketing Lead Phineas Totten tells me. “Our product is so distinctly different.”
“We just want to have fun on-chain again,” He adds.
Sony has launched its Soneium Blockchain. Three weeks ago, it was launched as a roll-up for Optimism. Sony Block Solutions Labs is managing it, which is separate from Sony Interactive Entertainment & PlayStation.
Soneium games are not completely out of the question.
Sam Barberie — head of strategy and partnerships at blockchain gaming infra firm Horizon — tells me he’s been working with Sony on some of their blockchain solutions. He says that Sony’s entry into the crypto world is exciting, because, “they’re, according to him, “willing to experiment.” The author believes that more large fish may jump into the crypto pool if his experiment succeeds.
“When companies get to see that [success], and the sky doesn’t fall, then it starts to open up more conversations,” Barberie says.
Soneium is a big deal for Web3 — if it can make a splash with US companies or consumers.
PENGU fire fizzles
PENGU is the NFT token of Pudgy Penguins. It has been burning big for a week.
In a symbolic token burning, the team burned over 12,1 billion Pengu Tokens worth approximately $150 million or 14% of total supply. This is in keeping with their promise to burn remaining tokens after the Pengu claim was over. This is good news.
But the tokens haven’t risen as a result of that burn. Pengu’s price is down by 5.5% today and 73% over the course of the last month.
Raised by Wolves
Another token that is similar to a gaming token could be coming soon.
WolvesDAO is an exclusive group of Web3 gamers. They may release a token. WolvesDAO is a Twitter Spaces host, but it also has a powerful, exclusive Discord Server that regularly purges members who are inactive.
Sam Steffanina is the co-founder WolvesDAO and he tells you via DM. “Something along those lines” A token has been in development following some mysterious postings on the group’s page X.
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