In this article, I will cover this very recent announcement, which a lot of people will be talking about. Indeed, unlike its “competitors” OpeanSea or Solanart, Fractal wants to focus on Gaming and metaverses (virtual worlds). More specifically, on video games using blockchain technology and those that want to issue assets on the blockchain to certify property and the unique nature of its digital assets.

The Fractal platform should be coming out in a couple of weeks. The website fractal.is only gives a few details on what’s upcoming, but if you know where to search, everything becomes clearer!

Fractal, presentation of the NFT marketplace

“People have always been capable of making real money by playing video games” Justin Kan, Twitch.tv co-founder

Kan and the Fractal team intend to transform the platform into some kind of Kickstarter for blockchain games, enabling users to buy exclusive NFTs during presales that contribute to financing the creation of the games themselves.

The Fractal platform will serve as a primary market for gamers, allowing them to purchase non-fungible tokens (NFT) directly from the video game developers, and use them in the game.

The utility of the platform is mainly justified in the secondary market, where users will be able to buy, sell but also swap NFTs among each other, outside of the game. This is not something new, websites such as eBay, IGVault, MMOGA, or OPSkins (before its foreclosure) already enabled gamers to buy or sell virtual assets.

Sales, however, are often forbidden by the game developers because of the risk of money laundering or simply because minors doing business may be incompatible with local laws.

In France for example, only adults can open a bank or Paypal account, or have the right to access gambling games. This is the reason why game developers block everything: to avoid problems and abusive behavior.

What is the purpose of using a blockchain ?

Blockchain enables NFTs to be assigned an individual signature that is impossible to reproduce. There are many use-cases for this: a skin for your game character or weapon, land or a virtual house, objects of value like a safe or a badge. In essence, any kind of asset received within a specific context or a digital object that represents value, even just a sentimental one!

Justin Kan voiced his opinion on the subject: “Like clothing in the real world, if you get a really awesome jacket. They made more than one of those and other people have them. But you have a story. It was in New York, in Brooklyn, and you saw it waking down the street. You buy it and then it’s awesome and maybe you give it to a friend. It’s an item with a whole story and it means something to you. Digital items are the same way and that’s something that I didn’t expect, but it’s really cool.”

Thanks to the signature and the chronicle of events (including the creation and subsequent transactions), you will easily be able to prove ownership of a given object but also that it is authentic and not a counterfeit replica. It is therefore essential that from the start Fractal and creators play by the rules to make sure that a limited edition is effectively limited, to ensure the rarity and value of that object.

“Auditing these projects will be a major task because no one wants to see a company announce a 10 000 pieces limited-edition NFT drop and then find 70 000 of them offered in the marketplace” – VentureBeat

What’s important to note is that blockchain facilitates traceability of transactions, it can therefore be an effective tool against fraud as well as for tracking transactions on secondary markets.

Fractal, launched on Solana but is it exclusive ?

At launch, only Solana projects will be listed. Fractal says it started with NFTs on Solana (SOL) because the low costs and high speed of transactions of its blockchain are attractive for companies in the gaming sector that are looking to sell a high number of assets.

The company nevertheless intends to integrate other blockchains in the future, according to a Coindesk representative. It is interesting to note that Coindesk & Grayscale: the biggest crypto investment fund in the world, both belong to the mother company Digital Currency Group. We can therefore conclude that the representative’s statements are not empty promises.

Fractal, a curated listing procedure to avoid abuse

“We are not interested in supporting scams or people that will not deliver projects. Our goal is to work with the best video game companies. There are now more genuine companies that have a history of creating games that are coming to this space, and we work to work with them”, Mr. Kan declared.

Here is a list of games and metaverses on Solana that will most probably be partnering with Fractal upon the marketplace’s launch:

• Aurory – Play-to-Earn with a touch of Dofus & Pokemon
• Genopets – Move-to-Earn that looks like Pokemon Go
• Portals – Complete metaverse with 3D characters
• SynCity – Play-to-Earn, “mafia metaverse” backed by Binance NFT
• Infinity Labs – Metaverse designed as an art gallery with animated pictures
• Mini Royale: Nations – Browser-based shooting game backed by Faraway

The last project, Mini Royale, featured in a demo presented at media company VentureBeat.com, is the first significant multiplayer shooting game on Solana, supported by Faraway.

Faraway recently raised funds for a total of $21 million. These $21 million are part of a $100 million budget allocated to blockchain-based games, financed by Lightspeed & FTX. We can say that the circle is now complete!

A new experience for the hardcore gamers ?

“When I was growing up and playing games, I played Ultima Online and World of Warcraft during an absurd amount of time”, he declared.

The online multiplayer role-playing game Ultima Online, from Richard Garriot, gathered thousands of players into a virtual and enduring fantasy world. You could be in a team with other players to kill monsters and collect loot. But if you died in the game, your hard-earned belongings could be stolen from your dead body by bystanders. It was brutal, ruthless, but Kan loved games with high stakes.

We already know that the Play-to-Earn game Aurory entered into a partnership with the e-sport organization TSM FTX to offer e-sport for its game. It will consist of creatures called Nefties that can die or disappear if you lose the fight, a kind of on-chain battle royale where only the best-prepared fighters win the big prize.

An exciting new development for e-sport and the cryptocurrency sector, I’m in!

Mandatory KYC for all projects ?

In my view, Fractal didn’t choose the Solana blockchain for its decentralization feature but more for its practicality. This, however, is not a problem for me. It is indeed necessary for proper due diligence of the studios that sell the NFTs. To this day, there has been no comment from the Fractal team with regards to the subject of client identification, and the question remains open.

In the pictures from the Fractal presentation we note the following games:

• New World – Amazon Games
• Fortnite – Epic Games studio
• Call of Duty – Activision

It is unthinkable for a gamer to present his ID card to purchase a game or a skin in a game, and that is perfectly normal. But what happens when all these virtual objects are exchanged in the same way as currencies? After all, the crypto market has accustomed us to avoid buyer identification as best as possible to preserve anonymity.

In this market, we have video game developers that are often listed on the stock exchange and they have to comply with extremely strict regulatory obligations. This is not a trend that will disappear overnight, and even if the subject remains taboo, I believe my question is legitimate: how can Fractal cooperate with traditional video game developers like Activision, Epic Games, or Amazon without enforcing basic client identification?

Think about it for a minute, Steam gave up on Bitcoin (BTC) as a form of payment in 2018.

Amazon only accepts credit cards as the official payment method on its platform. The only other unofficial form of payment allowed is the Amazon gift voucher, and it is not certain that this remains a “gray” zone forever, because Amazon gift vouchers can be likened to a currency in a limited range of offered goods and services: the Amazon website.

Epic Games only accepts credit cards, PayPal and Paysafecard. Paysafecard belongs to the Paysafe group, KYC is mandatory for merchants that want to collect payments.

Anonymity for the seller AND the buyer does not exist for these developers, why should it be different in the crypto market?

A governance token for a future Fractal DAO

Fractal has suggested that there will be a governance token linked to a future decentralized autonomous organization (DAO). We do not yet know what will be the function of this token, however, it should be associated with an Airdrop for the users that play along by inviting friends to join Fractal’s official Discord server.

Video analysis of Fractal’s project

Sources

Venturebeat – very comprehensive: https://venturebeat.com/2021/12/13/twitch-cofounder-justin-kan-is-back-with-nft-gaming-marketplace-fractal/

Coindesk: https://www.coindesk.com/business/2021/12/13/twitch-co-founder-justin-kan-launches-gaming-nft-marketplace-on-solana/

TechCrunch: https://techcrunch.com/2021/12/13/justin-kan-debuts-fractal-a-solana-based-marketplace-for-gaming-nfts/?tpcc=tcplustwitter

The article Fractal: The co-founder of Twitch, Justin Kan, launches his NFT marketplace on Solana appeared first on Coin Academy.

Elrond definition : what is it ?

Elrond is a decentralized blockchain network with a high bandwidth, it is fast and secure and offered as an alternative to the existing worldwide economic infrastructure. It claims to be the first project to use the “adaptive state sharding” technology and secure Proof-of-Stake (SPoS) in order to achieve speed and security.

Elrond has various objectives:

• Offer the tools essential to the emergence of a worldwide financial ecosystem, directly on its blockchain.
• Offer a bandwidth scalable with internet and with minimal latency for transactions.
• A simple access to the full ecosystem, so that anyone may conveniently interact with the blockchain.

How does Elrond work ?

Elrond’s innovation consists of two new technologies: “Adaptive State Sharding” and “Secure Proof-Of-Stake”.

Secure Proof-of-Stake (SPoS) is a consensus algorithm specifically designed for Elrond. Elrond nodes form a consensus group and determine the chances of becoming a validator for the following block. Validators are mingled randomly and may be redirected to another segment, enabling the network to maintain a high level of security. Validators are rewarded in EGLD.

Sharding is a technique in which data is fragmented into shards, independently and in a horizontal manner, in order to partition memory storage.

Elrond’s innovation lies in the way sharding is processed. Adaptive State Sharding multiplies this method’s efficiency, combining by its own the 3 principles of sharding : sharded transactions, network sharding and state sharding.

The sharding method put in place by Elrond aims to achieve the following objectives:

• Faster transactions (6-second blocktime)
• Easily traceable transactions
• Easily and quickly upgradable, without affecting network security and decentralization

For now, Elrond has 3 shards with each shard able to process ~5200 TPS (transactions per second), meaning that for the moment the network has the capacity to process a total of 15’600 transactions per second. If the network faces increased demand, one or several shards may be added to support a higher number of transactions per second. This is more or less similar to Ethereum’s 2.0 upgrade.

Elrond plans on introducing an EVM (Ethereum Virtual Machine) management service to support interoperability between Ethereum and Elrond applications.

What is Elrond Gold used for ?

As a medium of exchange

Similar to Bitcoin and most other cryptocurrencies, Elrond Gold (EGLD) is a peer-to-peer medium of exchange. The protocol allows any individual to transfer value through a transaction.

Paying network fees

All the transactions which are broadcast on the Elrond network are settled in EGLD. This is the case whether you are creating ESDT (Elrond Standard Digital Token) or executing smart contracts.

Governance

In the near future, Elrond Gold holders will be able to vote with their EGLD regarding proposals submitted by the community.

Token distribution within the ecosystem

Some projects within the Elrond environment decide to distribute part of their tokens for free to holders of Elrond Gold. Maiar Exchange distributes its MEX tokens over a period of 12 weeks to Elrond Gold holders. The project is not alone doing this, Maiar Launchpad expects to do the same: brace yourself for a flurry of DeFi tokens within the Elrond ecosystem.

Staking

Elrond Gold token holders can participate in staking thanks to the Proof-of-Stake (PoS) consensus mechanism. The return on investment ranges from 15 to 19 % per year if you are using a staking provider and 21 % per year if you operate your own node.

Elrond Gold price development and milestones. EGLD chart analysis and predictions

June 19, 2019: Publication of the whitepaper

The Elrond project came to life when the whitepaper was published in June 2019 by the Elrond team.

July 2nd, 2019: Birth of ERD

Elrond (ERD) was launched in early July 2019, with the IEO (Initial Exchange Offering) taking place on Binance. They raised funds for a total of 3,25 million dollars and the price for ERD was 0,00065 $.

October 2019: Battle Of Nodes

The “Battle Of Nodes” is a testnet used to detect potential weaknesses before the effective deployment of an update. This testnet is one of Elrond’s tools to ensure the network’s security and prove its scalability. Elrond will financially reward anyone that identifies a point of vulnerability.

July, 30, 2020: Elrond network launch

After more than one year of development and a final iteration on Elrond’s testnet, which succeeded to perform 260 000 transactions per second, the genesis block was created on July 30, 2020. The price for ERD exploded during the month when it launched, reaching 0,029 $, corresponding to a price appreciation of more than 350 %.

September 3rd, 2020 : ERD swaps to EGLD

On September 3rd of 2020 the ERD coin becomes EGLD (Elrond Gold) with a ratio of 1000:1 (1000 ERD=1 EGLD): EGLD aspires to be digital gold. Following this change, the price of EGLD collapses from 34 $ to 6 $ in only two months.

October 14, 2020 : EGLD staking launches

Staking of EGLD was introduced in early October with a return on investment up to 29 % per year as a delegator and 36 % per year if you operated your own node.

January 31, 2021: Maiar is launched

Maiar, a highly anticipated release, was launched on January 31, 2021. The Elrond network sees its number of addresses double in five days and, according to us, Maiar remains one of the best applications for the crypto market in terms of comfort and ergonomics.

February 7, 2021: Elrond breaks the 100 $ symbolic level

In 12 days EGLD sees its price increase by 180 %, reaching by February 7, 2021 the symbolic level of 100 $. Two days later, it stretches to 217 $.

Key figures for Elrond (EGLD)

• Price for Elrond Gold (EGLD)
• Last price : 148 €*
• Rank on CoinMarketCap : 54*
• Market Capitalisation : 2 571 492 470 €*
• Fully Diluted Market Capitalisation : 4 633 909 491 €*
• Circulating supply : 17 439 493 EGLD*
• Max supply : 31 415 926 EGLD
• All-Time High price : 205,16 €*

*Updated on 11/05/2021

Elrond Gold (EGLD) price chart (in EUR)

Useful resources for Elrond (EGLD)

• Link to the website : https://elrond.com
• Blockchain explorer link : https://explorer.elrond.com
• Twitter link : https://twitter.com/ElrondNetwork
• Link to the white paper : https://elrond.com/assets/files/elrond-whitepaper.pdf
• Source code link : https://github.com/ElrondNetwork

How to buy Elrond Gold (EGLD) ?

Binance – 20% rebate

Binance is THE standard for buying and selling cryptocurrencies. Year after year, Binance has managed to climb to the top position in terms of volume and popularity. In addition to trading Elrond (EGLD), you have access to more than 300 different cryptocurrencies. Binance also offers, for the bravest traders, the possibility to leverage your trades, as well as the option to stake your tokens in order to easily yield passive revenues.

 Register with Binance

FTX – 5% rebate

FTX is one of the most recent exchange platform but has nothing to envy of its competitors. In addition to Elrond (EGLD) you can trade with 200 other cryptocurrencies. FTX stands out from its competitors by offering derivative crypto products, such as long-term contracts and leverage trading.

Register with FTX

Maiar – 10 $ offered for purchases over 200 $

Maiar is a mobile wallet and application that will allow you to take full advantage of Elrond’s blockchain performance. With this application, you can transfer money to anyone you want by using their herotag (alias on Maiar). On top of that, Maiar does not require your identification documents, you just need a telephone number to create an account.

 Download Maiar

Kucoin – 10% rebate

Kucoin is the kingdom of low capitalization cryptocurrencies. In addition to Elrond (EGLD) you will be able to trade with over 300 different cryptocurrencies. This platform has chosen to focus on cryptocurrencies that are less familiar, but nevertheless interesting.

 Start using Kucoin

Which wallets can you use to store Elrond (EGLD) ?

Online wallets

Elrond Web Wallet

Elrond Web Wallet is an online wallet. Therefore, it is not necessary to download anything else to access your wallet. It allows you to store, stake and manage your EGLD as well as any other asset on the Elrond network. As of recently, it enables you to interact with the dApps within the Elrond ecosystem.

Downloadable wallets

Maiar

Maiar is the wallet of reference for Elrond. It is a mobile application that allows you to store, stake and manage your EGLD as well as other assets on the Elrond network. Maiar’s particularity is that it enables anyone to transfer their EGLD just by using the Herotag, there is no need to copy-paste the destination address anymore. As of late, it also allows you to interact with the dApps within the Elrond ecosystem.

Hardware wallets

Ledger Nano

Ledger, on top of being a French company, has managed to become the standard in terms of hardware wallets. Looking like a USB key, the Ledger Nano is an ultra-secure wallet that can store hundreds of cryptocurrencies, including EGLD.

There are two versions: Ledger Nano S and Ledger Nano X. The first one, cheaper, offers limited space. The second one, slightly more expensive, has more space available and the possibility to connect via Bluetooth.

Our articles on crypto news and events

Elrond (EGLD) FAQ

What is Elrond (EGLD)?

Elrond is a new generation blockchain specifically designed for performance, security, upgradability and interoperability. The Elrond blockchain can process 15 000 transactions per second on-chain and transactional finality is guaranteed at 6 seconds, however, in our humble opinion, the time to process transactions will decrease in the future.

What’s the best way to buy Elrond (EGLD)?

The best way to buy Elrond Gold is on an exchange market. You can use Binance, which allows you to purchase directly with your credit card, or Maiar.

How to safely store your Elrond Gold (EGLD)?

If you want to store your EGLD, we recommend you use a free application such as Maiar or the Elrond Wallet Web. You can also store your EGLD on a hardware wallet like Ledger.

What are Elrond’s advantages?

Elrond is a cryptocurrency but it’s also a promising technology. The network can accommodate thousands of transactions per second at a minimal cost while maintaining a secure and decentralized network.

How to predict price action for Elrond?

It’s no easy task to answer this and the advice we give may not be sufficient. In order to best anticipate price action it is important to familiarize yourself with technical analysis, which, if mastered correctly, can be a very useful tool. You can also follow the latest news on EGLD to learn more about its fundamentals.

How do you mine EGLD?

It is not possible to mine EGLD in the same way that you mine BTC or ETH because this crypto does not rely on Proof-of-Work (PoW) to function but on Proof-of-Stake (PoS).

Is it possible to farm or stake Elrond Gold (EGLD)?

Yes, it is possible to stake EGLD with a return on investment between 15 to 21 % per year on Maiar or on the Elrond Web Wallet.

It will also be possible to farm your EGLD on Maiar, the decentralized exchange.

Find out about other cryptocurrencies in 2021

The article Elrond Gold (EGLD) price – Real-time price evolution, analysis, charts and predictions appeared first on Coin Academy.