Posted on

Reddit Co-Founders’s Fund Leads $3.75M Round for Blockchain Gaming Studio

Reddit co-founder Alexis Ohanian’s venture fund led a $3.75 million seed round to support blockchain video game studio Horizon Blockchain Games.

Reddit co-founder Alexis Ohanian’s venture fund led a $3.75 million seed round for blockchain-powered video game studio Horizon Blockchain Games.

According to a press release on July 17, Ohanian’s venture fund Initialized Capital led the new seed round alongside other major blockchain investors such as Polychain Capital and Digital Currency Group. Other investors included popular American crypto exchange and wallet service Coinbase, Golden Ventures and Inovia Capital.

The secured funds will support Horizon’s goal of further integrating blockchain tech in the gaming industry. The company has created a blockchain video game network named Arcadeum, which provides players with secure wallets to store their assets from blockchain games. 

Based on the Ethereum blockchain, Arcadeum also serves as an application browser, providing an opportunity for game developers to release and market their games, the press release notes.

Horizon has already built its online card game SkyWeaver, which is expected to launch in open beta in the fall of 2019.

In mid-June, French video gaming giant Ubisoft was reported to be exploring potential blockchain applications in gaming as a part of its strategy to increase their competitiveness in the industry.

Previously, Galaxy Digital’s fund led a $1.8 million seed funding round for Azure’s blockchain-based gaming rewards platform.

Posted on

Blockchain-Based Game Becomes First DApp to Launch on Crypto Platform

A crypto platform has announced that the first DApp on its blockchain will be a game in which players have to obstruct strangers and stop them from stealing treasure.

A crypto platform has announced the launch of the first decentralized application (DApp) on its blockchain.

ILCoin says its debut DApp, created on the SHA-256 blockchain, is a game called AGE of ILC — a tower defense game in which players have to obstruct strangers and stop them from stealing their treasure. The game’s developers say their title has been designed to have an old-school, retro look like in the 1980s and 1990s.

AGE of ILC will initially be made available on Google Play in the middle of July, and work is already under way to bring the game to iOS smartphones and tablets at a later date. ILCoin says real cryptocurrencies can be acquired and spent through playing the game — and micropayments are made using ILC coins.

Upgrades can be purchased to give players an upper hand as they stave off enemies. Upon launch, four tracks with varying degrees of difficulty will be available to choose from — with each track boasting its own special features and distinctive enemies to keep gamers challenged. ILCoin says more levels, in addition to new graphic elements, are going to be released every two months. Each upgrade will also be accompanied by developments in the game’s storyline — with every twist and turn in the tale receiving its own blockbuster trailer to draw gaming enthusiasts in.

A new beginning

ILCoin says that AGE of ILC, which has been developed in conjunction with Specter Gaming and BOT Robotics, will not be its last game. The project’s development team has the ambition to increase the value of its blockchain technology by regularly delivering upgrades and launching brand-new titles.

Overall, the platform believes that blockchain-based games have the opportunity to offer an experience that hasn’t been seen in this industry before. While games that use this technology have begun to emerge in recent years, ILCoin says few of these titles have fully embraced the true potential that blockchain can provide.

More insights from ILCoin here

ILCoin’s decentralized approach also means that anyone can start building their own games on its blockchain. As well as giving aspiring developers a chance to have their big breakthrough, it’s also a chance for more seasoned creatives to reach a wider audience and deliver titles in an exciting new format.

Thinking outside the box

As ILCoin continues efforts to make its blockchain valuable for the entire community, the project has launched contests that invite crypto enthusiasts to think of ideas for DApps that broaden the use cases for its network. The crypto platform says it is keen to hear about new approaches for games, online stores and payment systems — apps that all of us use on a daily basis.

As previously reported by Cointelegraph, ILCoin uses “pioneering technology” known as command chain protocol (C2P) to ensure that its blockchain is as secure as possible. Its developers say C2P, that is certified by an official partner of cybersecurity company Palo Alto Networks, has the potential to prevent 51% attacks, in which hackers acquire the lion’s share of computing power in a network.

ILCoin also has the ambition of becoming the first blockchain to create smart contracts that run using SHA-256 technology — enabling them to perform complex operations in fully fledged programming languages that extend far beyond the “small set of simple operations” that many other networks are capable of.

Recent achievements include a redesign of its web wallet and the introduction of dynamic graphs so that users can see how the price of their cryptocurrency has changed over time. ILCoin has also been listing its coin on a broader number of exchanges — increasing awareness and boosting availability to crypto enthusiasts worldwide.

Learn more about ILCoin

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Posted on

Ripple Incubator Xpring Announces $500 Million Invested in XRP Projects

Ripple’s investments arm Xpring reports that it has invested around $500 million on XRP initiatives so far.

Ripple incubator and investment arm Xpring has spent $500 million on XRP projects since its launch in May 2018, according to an official blog post on July 2.

These funds have reportedly been distributed to over 20 companies, including the blockchain-based gaming platform Forte.

In general, the report says that Xpring investments are intended to create use cases for Ripple’s XRP token. They hope to accomplish this by making development easier, and say they are supporting developers by providing “tools, libraries and services for developers on the XRP Ledger and Interledger protocols.”

Additionally, Xpring is reportedly taking a two-pronged approach to creating more use cases, through infrastructure development and innovative projects. As examples of infrastructure development, they cited a contribution to the XRP Ledger and Interledger protocols, i.e. the native Ripple ledger and a protocol for blockchain interoperability.

The announcement briefly notes that Xpring is also focused on decentralized finance, and will look to invest in crypto-based solutions for aspects of finance like debt and derivatives.

As previously reported by Cointelegraph, ex-Facebook Developer Network director Ethan Beard was appointed as the Senior Vice President of Xpring and Ripple’s developer program. It was also noted that Ripple would finance Xpring, although Xpring would operate independently from Ripple.

On July 2, former Ripple executive Catherine Coley was hired as the CEO of BAM Trading Services, the operator of Binance US — a new, United States-exclusive branch of Binance. Coley previously worked as a liquidity management expert at Ripple from 2017 to 2019, with the recent title of Head of XRP Institutional Liquidity.

Posted on

Cortex Launches Deep Learning and AI Network for Decentralized Apps

Cortex claims that this is the first time that artificial intelligence has been introduced to a crypto network at scale.

Cortex has launched a network for decentralized apps powered by artificial intelligence (AI,) according to a news release published on June 26.

The company claims this is the first time that AI has been introduced to a crypto network at scale. It is hoped the technology will be used to generate credit reports for the decentralized finance industry and facilitate anti-fraud reporting for exchanges — and Cortex believes the gaming and eSports sector could also benefit from a “diverse range of use cases.” Cortex CEO Ziqi Chen said:

“In the near future, we expect to see stablecoins based on machine learning, decentralized decision making, malicious behavior detection, smart resource allocation, and much more. These are challenges that all intersect with crypto networks, where having trained AI models that are accessible on-chain will prove to be extremely valuable.”

Looking ahead, Cortex says it plans to work with developers to implement AI dApps on its network, and deliver on-chain machine learning to networks beyond Ethereum.

Earlier in June, the European Union announced plans to increase the amount of data that can be reused as raw material for AI and blockchain projects.

An AI-powered index tracking the 100 strongest-performing crypto coins and tokens was also recently added to Reuters and Bloomberg trading terminals.