Global Hive Buzz

Epic Games Introduces Illuvium's Web3 Game to Its Vast Audience of 180 Million Players

Blockchain gaming startup Illuvium is making a significant move towards mainstream recognition by launching its Web3 game on the Epic Games Store on November 28. This strategic move will give Illuvium exposure to Epic's extensive user base, which comprises over 180 million players, and marks a milestone for blockchain gaming within one of the industry's largest platforms.

Notably, other major publishers such as Electronic Arts, Sega, and Ubisoft have shown a growing interest in blockchain gaming and NFT technology. EA recently revealed plans to integrate NFTs into its EA Sports titles through a partnership with Nike's Swoosh platform. Sega has issued licenses for third-party blockchain games, and Ubisoft has already experimented with offering free NFTs in Ghost Recon Breakpoint.

In response to these developments, Illuvium's ILV token has surged by 20.7% over the past 24 hours, as reported by CoinGecko.

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CertiK Data Reveals the Slowest Pace of New Cryptocurrency Creation in Three Years

Excluding meme-inspired cryptocurrencies, a mere 293 new tokens made their debut on the CoinMarketCap website, which is less than a quarter of the number added during the bullish period of late 2021, as per recent data collected by the smart-contract auditor CertiK.

Just as the cryptocurrency markets show signs of recovery, a new dataset has come to light, highlighting the significant decline in the pace of blockchain development in recent times.

During the third quarter, the creation of new tokens reached its lowest point, dating back to at least the beginning of 2021, according to CertiK, a blockchain smart-contract auditor. CertiK compiled this data by analyzing the list of tokens added to the CoinMarketCap tracking website each quarter and excluding so-called "memecoins," which lack a clear purpose beyond amusement and speculative trading.

Dubai Sets a Firm Deadline of November 17 for Crypto Licensing Compliance

With a heightened focus on security and consumer protection, VARA (Virtual Asset Regulatory Authority) has issued a clear directive. Every digital asset service provider (VASP) operating within its jurisdiction must promptly obtain a license. The message from the Authority is unequivocal, as any delay could result in severe regulatory consequences.

Consequently, the city has witnessed over a thousand established companies eager to adhere to its pioneering regulatory framework. Furthermore, the Authority has been proactive in emphasizing the critical need for VASPs to achieve full compliance, as evidenced by strict penalties imposed on non-compliant entities.

As the looming deadline approaches, VARA remains resolute in its commitment to complete the licensing process, or else, trigger the implementation of enforcement measures. This requirement underscores Dubai's assertive approach to managing its thriving virtual asset market, ensuring it maintains a leading position in financial innovation and security.

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