IlluMyFi

Business simulation game Legacy is now available for PC and Mac on the Gala Games platform, giving players the chance to test their strategic smarts against each other to win in-game prizes, bragging rights and potentially Gala Games' GALA token. Developed by 22cans, Legacy puts players in charge of a fledgling company. Players design products, manage the production process and eventually build a whole town to support the economy they've created. At the heart of the game are hourly competitive events including design and sales competitions. The former sees players compete to design the most creative products, with the winners voted on by the community. In sales competitions, players compete to sell the greatest quantity or the highest value of products within the time limit. The winners receive Legacy Tickets, which can be converted into Gala Games' GALA token once a day. Competitions are accessed using Gems, the game's in-game currency. These can be mined using a Gem Mine rewarded through initial gameplay, or purchased using Gala Games' GALA token. Legacy is free to play, but all players play using keys held by Deed owners. Key players are linked to Deed owners by choosing a key when they start the game They become part of the Deed owner's Guild, and a portion of any tickets they earn (clearly labeled when you select a key) will go to the Deed owner. Deed owners are issued with a number of Keys that varies based on the Deed's rarity, with rare Deeds also receiving a Legacy Ticket multiplier that can increase the Legacy Ticket haul by up to three times. Deeds are unique digital property that can be bridged to Ethereum and sold on secondary markets. A future update to the game will enable Deeds to be leveled up, with updates remaining with the minted item permanently, and will also add Buildings to the game, offering buffs such as worker efficiency boosts and accelerated research. Like Deeds, some Buildings will be digital property minted on GalaChain, while others will only be available in-game.

Sentiment

Bearish/Bullish

11.01.24 07:57

by decrypt.co

Bitcoin ETFs Notch $1.9B in Trading Volume -- But Merrill Lynch, Vanguard Won't...

Bitcoin ETFs in the U.S. are off to a raucous start. It's only midday, and already the 11 spot Bitcoin ETFs just yesterday approved by the SEC have combined for $1.9 billion worth of trading volume, exceeding analyst expectations. Despite spiking to nearly $49,000 just after markets opened in the U.S., Bitcoin was relatively subdued on Thursday. At the time of writing, it was changing hands at $46,610.54, according to CoinGecko. BlackRock's iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Trust (FBTC) have far and away led the pack, accounting for 41% and 27% of that volume, respectively. These two ETFs alone have generated $1.3 billion in trading volume so far. Among the non-Wall Street set, the ARK 21Shares Bitcoin ETF (ARKB) has done roughly $208 million -- about 13% -- of total volume by 1 p.m. ET on Thursday. In October, when the race to offer a Bitcoin ETF seemed to be just heating up, Adam Guren, the co-founder of crypto hedge fund Hunting Hill Digital, told Decrypt that blowout ETF launches aren't all that common. "Even attaining $500 million in day-one inflows as a noteworthy challenge," he said. Last week, Dave Nadig of VettaFi and co-author of "A Comprehensive Guide to Exchange-Traded Funds" told Decrypt that if the approved funds launched with the Grayscale Bitcoin Trust in the mix, then GBTC might soak up most of the volume -- but not for the reasons the firm might want. "Where the volume shows up is a little bit of a secret sauce, mystical union quest," Nadig said last week, adding that "if GBTC is included in that initial launch, it could get all the volume because there are a lot of people who are already in it that may want to unload it." The Grayscale Bitcoin Trust (GBTC) has accounted for $217 million worth of the opening day volume, approximately 12% of the total that's traded so far. But GBTC isn't a perfect 1:1 comparison to all the ETFs that just began trading today. GBTC began as an investment product available to accredited investors in 2013. As part of the SEC approvals yesterday, Grayscale was allowed to convert GBTC into a spot Bitcoin ETF. The Securities and Exchange Commission made history yesterday afternoon when it approved rules changes that would allow the Bitcoin ETFs to trade on the NYSE Arca, Nasdaq, and Cboe. The industry has been pushing for such products to be available to U.S. investors for the better part of a decade. That's because spot Bitcoin ETFs offer a way for investors to get exposure to BTC as an asset without having to actually buy and store the cryptocurrency. But the ease with which investors can now gain exposure to BTC through ETFs comes at a price. By design, exchange-traded funds (ETFs) charge a sponsor's fee -- which pays for all the overhead taken on by the issuer and management of assets. In the days leading up to yesterday's SEC approval, issuers played a dizzying game of fee limbo. After initially setting its fee at 0.30%, which analysts said was very competitive, BlackRock turned up the heat on...