• Ubisoft and The Sandbox have partnered to create 2,066 Rabbids avatars.
• One NFT will cost 100 SAND which is around $78 USD.
• This is a big step forward for the NFT Gaming Industry.
Ubisoft and The Sandbox Team Up
Ubisoft has teamed up with Animoca Brands’ The Sandbox to develop 2,066 unique Rabbids avatars. One NFT will set you back 100 SAND (about $78 USD at the time of publication). This collaboration marks an important step forward for the NFT gaming industry as a whole.
Buyers will be able to view the designs for different avatars on Friday. In addition, The Sandbox will offer a Rabbids game world on February 28 with a limited set of activities. These avatars are described as “key to future utility” in The Sandbox, giving users access to upcoming drops.
Previous NFT Developments by Ubisoft
Ubisoft was one of the first major video game companies to take note of Web3 and act accordingly with regards to NFTs. In 2018 they developed a prototype called HashCraft which was heavily influenced by Minecraft but eventually abandoned it due to unsuccessful results. They have also put money into gaming studio Horizon and metaverse investment firm Animoca Brands plus supported development of games such as Axie Infinity and Nine Chronicles. Furthermore, NBA Top Shots were classified as securities by U.S judge recently which is another great example of their involvement in this space
Year of the Rabbit
Seeing as how 2023 is the Year of the Rabbit, these characters’ avatars are decorated in a Chinese New Year style making them even more special than they already are!
Overall, this collaboration between Ubisoft and The Sandbox signifies an important milestone for both parties involved since it represents an incredible opportunity not only for users but also for developers due to its potential implications in terms of advancing technology within this area even further!
Minting of TrueUSD by Binance
• Binance, a cryptocurrency exchange, has minted roughly $50 million worth of TrueUSD in only a few days after news surfaced that US regulators were looking into Paxos and Binance USD.
• Binance CEO Changpeng Zhao “CZ” said in a Twitter Spaces on February 14 that the exchange will seek to “diversify” its stablecoin holdings away from BUSD.
• CZ had previously stated that the recent regulatory action by the United States Securities and Exchange Commission (SEC) and the New York Department of Financial Services might lead to a long-term decline in the supremacy of U.S. dollar-backed stablecoins.
Crypto Exchange Binance recently announced that it has minted 50 million TrueUSD (TUSD). This move comes as US regulators are looking into Paxos and Binance USD. The transaction occurred on February 16th, two days after CZ announced that they would diversify their holdings away from BUSD due to potential regulatory action against USD backed stablecoins by US SEC and NYDFS.
In light of this news, CZ had expressed his opinion that he never had high hopes for the development of the stablecoin, which bears the name ‘BUSD’. In an attempt to improve access to liquidity and capital efficiency for customers, Binance automatically converted TUSD to BUSD back in September along with USDC and USDP coins as well. Furthermore, plans have been made to expand operations into euro and yen-based stablecoins too.
The minting process began when buyers put US dollars (USD) into an escrow account managed by Prime Trust. Each time this happened new TUSD were created accordingly.
It is clear that with regulators scrutinizing Paxos and other similar organizations, crypto exchanges need to be prepared for any eventualities; this includes diversifying their holdings away form USD backed coins such as TUSD or else risk being shut down due to legal implications as seen with some other exchanges before them. As such, it appears that with these recent developments more people will be turning towards alternative solutions like TUDS instead of traditional ones like USDT or PAXOS in order to ensure their safety going forward.
• Binance is adjusting the withdrawal fees on the Tron (TRX) Network in accordance with a recent proposal from the TRON community.
• The withdrawal fees for USDT/USDC/TUSD have been increased from 1 to 2.6 units, and for TRX withdrawals the user must now pay 15 TRX instead of 1.
•The dynamic energy model will help avoid excessive network resource concentration and more fairly allocate energy resources on the chain.
Binance Adjusts Tron (TRX) Network Withdrawal Fees
Binance has announced that it is adjusting withdrawal fees on the TRON (TRX) Network according to Proposal 83 passed by the TRON (TRX) community which switches to a dynamic energy model.
Changes in Withdrawal Fees
The new changes affect all assets – USDT /USDC /TUSD, whose withdrawal fees have been increased from 1 to 2.6 units, and Binance stable coin, whose charges have been changed from 0.8 BUSD to 2.2 BUSD.
For TRX withdrawals, users must now pay 15 TRX instead of 1.
Dynamic Energy Model
The dynamic energy model proposed by the community seeks to adjust future energy use based on known usage, or TIP-491. This approach aims to prevent excessive resource concentration and provide a fairer allocation of energy resources on the chain.
In preparation for this change, Binance wallet maintenance for the Tron Network (TRX) was conducted about five days ago which took about two hours.
With these changes comes an important shift towards a more dynamic system of resource allocation and fair distribution of energy resources on the blockchain. p >
• Binance recently made a significant move with the Shiba Inu (SHIB) token, transferring 6.4 trillion SHIB without affecting its price.
• This was made possible due to Binance’s advanced technology and infrastructure which allowed them to execute the huge transfer without causing disruption in the cryptocurrency market.
• There have been an ongoing series of massive Shiba Inu transfers in the past several weeks, with Voyager transferring 270 billion SHIB tokens to various crypto exchanges in the US.
Binance Makes Significant Move with Shiba Inu Token
Binance, one of the world’s leading cryptocurrency exchanges, recently made a significant move with its native Shiba Inu (SHIB) token by successfully transferring 6.4 trillion SHIB without causing any disruption or impacting its price. This was made possible through Binance’s advanced technology and infrastructure which allowed them to execute this huge transaction without creating any shockwaves in the market.
Series of Ongoing Transfers
In recent weeks, there have been an ongoing series of massive Shiba Inu transfers across different crypto exchanges. According to reports yesterday, Voyager, a bankrupt crypto lending platform transferred 270 billion SHIB tokens to various crypto exchanges based in the US. Despite large amounts of cryptocurrency being transferred over time, SHIB has managed to buck the trend and remain strong despite losses from other top 20 assets by market cap – making it one of few assets that are still printing gains during this time.
Motives Remain Unclear
The underlying motives behind these transactions remain unclear as Binance has yet to provide any official response when asked for comment. However, some speculate that it may be part of a larger move by Binance as they continue their push into decentralized finance (DeFi). It is also possible that these moves are part of an effort to increase liquidity on certain platforms or even create new trading opportunities for traders who want exposure to SHIB tokens but don’t have access to certain exchanges or wallets where they can trade them directly.
This remarkable feat demonstrated by Binance shows just how reliable and resilient cryptocurrencies can be when it comes to efficient transactions across exchanges – even those involving large-scale transfers like this one did not cause any disruptions in the market or negative effects on its price point. As more investors continue entering into DeFi markets and gaining exposure towards digital assets like SHIB tokens, we will likely see many more similar moves being carried out in order for traders and investors alike benefit from higher liquidity levels across multiple platforms and markets around the world.
About Carolyna Mavis
Carolyna Mavis is an experienced writer for NewsCrypto covering blockchain tech topics aiming at helping non-crypto geeks understand this technology with ease