Starknet’s new gaming entity earns $125 million, NFTs fall as ETH rises, and more
StarkNet Foundation to form gaming committee with $125M budget.
The Starknet Foundation, which supports Ethereum's layer-2 blockchain Starknet, has set up a committee to push games on the network and allocated $125.5 million worth of tokens to hide the group.
The gaming committee will “research, develop and recommend programs to expand Starknet's gaming ecosystem,” Starknet said in a March 11 blog post, setting aside 50 million Starknet (STRK) tokens.
“The committee is tasked with designing and recommending programs to encourage developers to build games on Starknet and encourage players to use them,” Starknet added. “Success is measured by usage metrics such as daily active users, retention rates and revenue.”
The committee has six members, including StarkNet's head of developer relations, Henri Leutaud, Chris Lexmond, founder of Unstoppable Games, and Gabin Marginier, founder of Web3-based productivity app Focus Tree.
Other members are Starknet ecosystem developer Ollie Fuller of Starknet development company Starkware, Tarens Van As, co-founder of the Starknet-based “game console” Cartridge, and the creator of the Starnet-based game Rem's World, who goes by the pseudonym “LordOfAFew” or “LOAF”.
As Starknet network activity continues to slow down, StarkWare has changed its STRK token launch schedule, allowing early investors to dump retail users in relation to the original plan.
When the price of ETH rises, the prices of NFT fall
Ether (ETH) posted a 24-hour price surge to a more than two-year high, while the value of non-volatile tokens (NFTs) fell on the day.
ETH-dividend floor prices – the lowest price – for seven of the top 10 trading volumes on the NFT market have fallen over the past 24 hours, although the price of ETH is up 5% over the same period and above $4,000 for the first time since the end of 2021. .
Yuga Labs' flagship Bored and Mutant Up Yacht Club collections are down 13% and 14% on the day, while Azuki and Degods are closing in on 9% and 10% declines, respectively.
Looking at the collection's seven-day turnaround, the stats worsen, with DeGods dropping over 40% for the week and Mutant Ape Yacht Club down over 30%.
Cryptoslam! Trading volume data showed a nearly 22% drop for the week, with the number of NFT buyers and sellers each falling about 75%.
Kevin Rose Says “Crypto Is Bigger Than NFTs” After $1.3M NFT Sales
Kevin Rose, co-creator of the Moonbirds NFT suite, now owned by Yuga Labs, said his reason for throwing away more than $1.3 million worth of NFTs is that “crypto outlives them.”
NFTScan data shows that over the past three weeks to March 10, one of the pink wallets sold 330 ETH worth of NFTs, including two sales of more than 140 ETH. Rose transferred high value CryptoPunk NFT to another wallet.
In a now-deleted March 10th post, Rose wrote: “He was cutting. [his] “NFT collection” as he believes “Mass adoption is still further out, and the classic cryptocurrency will be superior.”
“The ‘I'm selling everything' rumor is not true,” Rose wrote in the since-deleted post. “I am, as always, praying and begging for a set or bag.
Related: Is GameFi subject to the same market forces as the traditional gaming industry?
In a separate X post, Rose stated that since he sells often “to collect tax losses”, he “prefers to keep this ETH staked and working in Bitcoin” and still holds “over 100 NFT”.
It comes after Yuga acquired Rose's firm certification and with it a collection of PROF-owned NFTs including Moonbirds, Oddities and Grails.
The PROF staff was folded into Yuga and Rose joined the organization as a consultant.
Other news
Automaker Nissan has digitized some of its older cars to teach traffic safety, with minigames on the driver's view and steering wheel spins.
A Bitcoin halving – when mining rewards are halved – could cause demand for Bitcoin (BTC) to enter the NFT world, causing NFT prices to rise.
Magazine: NFT Collector, DCinvestor: Is this the best NFT collection in the world?
