Starknet Foundation Launches Gaming Committee Amid Starknet Slump and Declining NFT Prices
Summary:
The Starknet Foundation has established a Gaming Committee, dedicating $125.5 million in tokens to expand Starknet's gaming ecosystem. Meanwhile, despite ETH's price surge, top NFTs have seen their prices drop. Additionally, Kevin Rose, co-creator of the Moonbirds NFT collection, is liquidating a vast portion of his NFTs, believing that cryptocurrency will outperform them. Nissan has also turned to the metaverse to teach traffic safety, and the upcoming Bitcoin halving might spark an NFT price surge.
The Starknet Foundation, a supporter of the Ethereum layer-2 blockchain Starknet, has announced the creation of a committee dedicated to advancing gaming on the platform. The foundation has allocated $125.5 million worth of tokens to power the group's initiatives. According to a public statement from Starknet on March 11, the Gaming Committee will strategize, assess, and suggest schemes to bolster Starknet’s gaming ecosystem. The success of the committee will be determined by factors such as user engagement metrics, retention rates, and revenue.
As for the committee's composition, it includes six members: Henri Lieutaud, Starknet’s developer relations head, Chris Lexmond of Unstoppable Games, Gabin Marignier from Focus Tree, StarkWare's Oli Feuler, Tarrence van As from Cartridge, and "LOAF" who launched the game Realms World on Starknet. Despite these efforts, Starknet's network activity continues to fall, forcing StarkWare to modify its STRK token unlock schedule.
While the ETH price hit a two-year high after a 24-hour increase, the prices of prominent nonfungible tokens (NFTs) fell. Despite a 5% upsurge in ETH’s price over the same period, the floor prices of seven out of the ten top traded collections on Blur have declined in the last 24 hours. Among the collections showing a slump are Yuga Labs’ Bored Ape Yacht Club and Mutant Ape Yacht Club, down 13% and 14% respectively. The data also reveals a nearly 22% weekly drop in NFT sales volume, with approximately a 75% drop in the number of NFT buyers and sellers.
Kevin Rose, co-creator of the Moonbirds NFT collection, has liquidated over $1.3 million worth of NFTs, reasoning that cryptocurrency will outperform NFTs in value. In the past three weeks leading up to March 10, Rose sold NFTs totaling about 330 ETH from one of his wallets. In a now-deleted post from March 10, he clarified that he was diversifying and not liquidating everything.
In other news, Nissan seeks to educate the public about traffic safety by digitizing its classic cars in the metaverse and creating relevant minigames. Also, the Bitcoin halving could potentially trigger a surge in NFT prices as the market's interest might shift towards the NFT sector.
Published At
3/12/2024 9:43:15 AM
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