Pixels(PIXEL)

Web3 games are much, much better than they used to be. Longtime gamer David Morris ranks the gameplay, graphics and tokenomics of popular franchises like Gods Unchained, Pixels and, yes, Hamster Kombat.

The MEW character will be featured on TON, the network where Pixelverse’s Telegram mini-games operate, in a first for a Solana meme coin.

This year's bull market has seen a resurgence of many crypto narratives from yonder cycles, including crypto gaming. In that sector the Ronin network – whose game Axie Infinity reigned over the last gaming moment – is back again.

[PRESS RELEASE – Panama, Panama City, January 10th, 2024] Web3 platform BlockGuard has signed an equity partnership deal with Pixelette Technologies, a London-based blockchain and IT firm. As part of the deal, Pixelette’s founder and CEO Asif Ashiq Rana has also joined the platform as an advisor. BlockGuard, whose services include decentralized, professionally-managed funds, a […]

Nella prima vendita in assoluto delle iscrizioni degli Ordinali da parte della storica casa d'aste, nota come "NFT su Bitcoin", un lotto di tre immagini pixelate provenienti da una collezione a tema funghi ha fruttato circa $ 450.000, ovvero circa cinque volte le stime più alte.

In the historic auction house's first-ever sale of the Ordinals inscriptions known as "NFTs on Bitcoin," a batch of three pixelated images from a mushroom-themed collection drew about $450,000, or roughly five times the highest estimates.

Na primeira venda das inscrições Ordinals da histórica casa de leilões, conhecida como “NFTs no Bitcoin”, um lote de três imagens pixeladas de uma coleção com tema de cogumelo atraiu cerca de US$ 450.000, ou cerca de cinco vezes as estimativas mais altas.

Lors de la toute première vente par la maison de ventes aux enchères historique des inscriptions Ordinals connues sous le nom de « NFT sur Bitcoin», un lot de trois images pixellisées provenant d'une collection sur le thème des champignons a rapporté environ 450 000 $, soit environ cinq fois les estimations les plus élevées.

The NFT-like Ordinals inscriptions are anathema to some Bitcoin purists who want to preserve the blockchain for financial applications. But a few of the images are fetching eye-popping sums in the in-real-life art world.

Web3 financial super app “hi” and Animoca Brands have entered a strategic partnership, with Animoca investing $30 million in hi. The partnership will see Animoca invest $30 million into hi, with the venture collaborating on several new initiatives. hi, the Web3 financial super app and ecosystem, and Animoca Brands, the company advancing digital property rights for gaming and the metaverse, have teamed up by entering into a memorandum of understanding (MoU) for a strategic partnership. Part of the partnership, subject to agreement of definitive terms, will see Animoca Brands invest $30 million in hi and collaborate on several new exciting initiatives. The companies’ shared vision aims to amplify the utility of fungible tokens and NFTs (non-fungible tokens) within the Web3 space. Hi and Animoca Will Provide Unique-Human Authentication Mechanisms The partnership will lead to deep integration between Animoca’s ecosystem and hi’s innovative services driving Web3 mass adoption. With a strong focus on boosting the hi ecosystem, anchored by the hi App – a cutting-edge financial super app for Web3 – and the hi Protocol (hiP) – a scalable, EVM compatible, Sybil-resistant layer-2 sidechain for Ethereum – the companies will work to provide developers with a unique-human authentication mechanism through hiP’s ground-breaking Proof of Human Identity (PoHI) solution. Animoca is an undisputed leader in the NFT space and, with such a reputation, will support hi’s vision to deliver real-world use cases for cryptocurrencies and utility tokens, allowing users to directly spend and be rewarded with specific tokens used in the Animoca ecosystem, including SAND, EDU, APE, REVV, GMEE, and others. In 2022, hi – with over 3.5 million users, of which 1 million are KYC-ed- announced the world’s first debit card featuring NFT avatar customization powered by Mastercard. With the first cards shipping in Q3 2023, eligible cardholders can personalize the face of their debit card with an NFT avatar they verifiably own and spend their fiat and digital currencies at more than 90 million locations worldwide. Animoca Brands’ portfolio companies will undoubtedly benefit from this unique customisation feature. Yat Siu, the co-founder and executive chairman of Animoca Brands, said: “We are looking forward to investing in and partnering with hi, which is committed to bridging the gap between the fiat and cryptocurrency worlds. As part of this partnership we will collaborate with hi on its continued development of the hi App and the hi Protocol to drive positive impact for the broader Web3 ecosystem.” Sean Rach, the co-founder of hi, commented on the partnership: “Hi is proud to work closely with Animoca Brands, especially given its experience in backing some of the earliest and most prominent Web3 companies. By teaming up with Animoca Brands, we will be able to boost the adoption of hi products and services, helping to drive mass adoption for blockchain technology.” About hi hi is building the world’s most user-friendly and functional app for crypto and fiat. It combines the functionality of a crypto exchange with a next-generation digital banking platform. The company provides members with an all-in-one service for savings, investments, payments, and lifestyle benefits. Almost 3.5 million people from 190+ markets have signed up for hi, and the hi App has been downloaded over 2 million times. Visit hi on Telegram, Twitter, Instagram, LinkedIn, or its website - hi.com. hi is Payment Card Industry Data Security Standards (PCI DSS) certified. hi has completed its registration as a Virtual Assets Service Provider (VASP) in Lithuania and registered as a Virtual Currency Operator with Italy’s payments services regulator, the Organismo Agenti e Mediatori (OAM). hi has also completed the pre-registration activities under the supervision of the Hong Kong Securities and Futures Commission (SFC) to secure its Virtual Asset Trading Platform license. Download the iOS App or Download the Android App. About Animoca Brands Animoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a leader in digital entertainment, blockchain, and gamification working to advance digital property rights and contribute to establishing the open metaverse. The company develops and publishes a broad portfolio of products, including original games such as The Sandbox, Phantom Galaxies, Life Beyond, Crazy Kings, and Crazy Defense Heroes, and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGPTM, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Life Beyond Studios, Notre Game, TinyTap, Be. , PIXELYNX, and WePlay Media. Animoca Brands has a growing portfolio of over 450 Web3 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

CyberKongz partners with Axie Infinity’s creator Sky Mavis to migrate its existing Play and Kollect NFT game and mint the new Genkai NFT collection on the Ronin chain. New Genkai NFT Collection and Game to Be Launched on Ronin According to the press release of July 25, Sky Mavis, creator of the popular crypto game Axie Infinity, starts its new partnership with a growing NFT franchise CyberKongz. CyberKongz will mint a part of its new anime-inspired NFT collection called Genkai on Sky Mavis’ Ronin chain. The Genkai mint will take place on July 27 at 12pm EST, with 4,000 made available on Ronin’s Mavis Market and the other 16,000 NFTs minted on the Ethereum Mainnet. The Ethereum NFT holders will have the option to move their tokens to Ronin in the future. The price for Genkai NFTs on the Ethereum blockchain is expected to be 0.25 ETH (about $460) per token. The NFT creators have also confirmed that they’ll join forces with Ronin to develop a new game featuring Genkai, although no further details have been announced so far. “Genkai is the first non-pixel artwork I have created for CyberKongz and will represent our growth as a project to expand our IP into the Southeast Asian and Japanese markets. Additionally, CyberKongz will be working with Ronin to develop a game featuring Genkai. This ambitious venture will seek to alter the paradigm of web3 IP in a gamified manner.” – shared CyberKongz founder and artist, Myoo. Besides, it’s been reported that the CyberKongz’ existing NFT minting game called Play and Kollect will be migrated from the Polygon blockchain to Ronin. However, the date for the migration hasn’t been set yet. To strengthen the connection between Axie Infinity and CyberKongz users, Sky Mavis will give away free Genkai NFTs to each holder of the rare Mystic Axies. What Does the Partnership Mean for Sky Mavis and CyberKongz? There’s a reason why CyberKongz chose Sky Mavis for this collaboration. Apparently, there’s always been a link between Axie Infinity players and CyberKongz fans. CyberKongz council member Henry the Grape explained: “We were really born out of the Axie community. So when the opportunity came with Ronin to be able to continue building our ecosystem on Ronin, it was kind of a no-brainer.” Myoo of CyberKongz also mentioned: “By partnering with Sky Mavis we are embarking on a unique opportunity to accelerate our already established gaming ecosystem, while also enabling an expansion of our holder base.” As for Sky Mavis, it will undoubtedly benefit from the partnership. The Axie Infinity creators are moving towards growing a large blockchain gaming ecosystem. CyberKongz NFTs will become the first profile picture collection minted on Ronin. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

This week, OpenSea introduced “Deals,” allowing NFT collectors to trade directly with one another and McDonald’s launched McNugget Land in The Sandbox, inviting users to interact with pixelated nuggets and play mini-games.

The floor price of the Bored Ape Yacht Club NFT collection has dropped to the lowest in the last 20 months. BAYC Drops Below 30 ETH The forecast does not look good for NFTs, as the most popular collection ever, the Bored Ape Yacht Club (BAYC), has sunk to a 20-month low. According to a report from the data analytics platform, CoinGecko, the floor price of the NFT collection from the iconic Yuga Labs drastically fell to 27.4 ETH, which is around $53,000 on Sunday evening. NFT marketplace OpenSea claimed that the collection’s trading volume has dropped by a significant 38% in just 24 hours. It did recover from the bottom, however, slightly, settling around 29.5 ETH at the time of writing. 50% Decrease Since April The floor price is the lowest value a seller is willing to accept for an NFT and is a crucial indicator of the NFT’s demand and popularity. For the BAYC collection, the floor price has experienced a 50% decrease since April of this year. At the beginning of the month, it was being traded at 64 ETH, equivalent to approximately $126,000. However, across the month, pseudonymous collector Franklin sold 27 NFTs from his BAYC collection, which must have compounded the lack of interest further, dropping the floor price to a five-month low of 55.6 ETH, or about $110,000. Collectors Questioning BAYC Investment This is tough news for the collection, which has almost always seen high demand. In fact, the last time its floor price was below 30 ETH was back in October 2021. However, soon after, the NFT boom hit, and BAYC’s floor price skyrocketed to new all-time highs. The Bored Ape Yacht Club, a popular and highly sought-after NFT collection known for its unique pixelated ape characters, had garnered significant attention and fetched substantial prices in the past, its highest being 153.7 ETH (approximately $430,000) in April 2022. However, the recent drop in floor prices has caught many collectors off guard, leaving them questioning the future of the collection and the broader NFT market. Many Challenges For NFT Market Other than the overall bearish market, experts also believe that the initial frenzy and hype surrounding NFTs have subsided, leading to a decline in demand and, subsequently, lower prices. According to OpenSea, this could be a result of the long crypto winter that pulled down the price of Ethereum. As a result, this has affected the price of the NFT collections like BAYC, which are powered by Ethereum. Other collections affected by the crypto winter are MoonBirds, Azuki, Doodles, and others. Moreover, the BAYC collection itself has seen a surge in supply that has put additional pressure on the prices, leading to the significant drop witnessed recently. Additionally, the increased regulatory scrutiny toward NFTs and the broader cryptocurrency industry has introduced an element of uncertainty, causing some investors to pull back and leading to a decline in prices. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Pseudonymous NFT researcher and artist Elena admitted to tracing other pixel art to pad out her upcoming collection Atomic Ordinals.

Road Town, BVI, June 12th, 2023, ChainwireLBank Exchange, a global digital asset trading platform, listed Bored Pepe VIP Club (BPVC) on Jun 12, 2023. For all users of LBank Exchange, the BPVC/USDT trading pair is now officially available for trading at 10:00 UTC on Jun 12, 2023.Bored Pepe Vip Club is a Coin named $BPVC and a collection of 10,000 Bored Pepe NFTs unique digital collectibles living on the Ethereum blockchain. Its native token, BPVC, was listed on LBank Exchange at 10:00 UTC on Jun 12, 2023, with the goal of expanding its global footprint and supporting the realization of its forward-thinking objectives.Introducing Bored Pepe VIP ClubLBank Exchange is thrilled to announce the upcoming listing of Bored Pepe VIP Club (BPVC), a Coin named $BPVC and a collection of 10,000 Bored Pepe NFTs unique digital collectibles living on the Ethereum blockchain.Possessing a Bored Pepe NFT not only offers ownership of a unique digital asset but also functions as a VIP Club membership card, endowing holders with exclusive members-only benefits. The primary benefit provided is access to PEPE LOUNGE, a collaborative graffiti board. Furthermore, the community has the ability to unlock future areas and perks through the activation of the roadmap.Every Bored Pepe is distinctive and algorithmically created from a pool of over 70 potential traits, such as expression, headwear, clothing, and more. While all pepes are appealing, some are rarer than others. The pepes are held as ERC-721 tokens on the Ethereum blockchain and are hosted on IPFS for guaranteed proof of ownership and authenticity (See Record and Proof). The purchase of a Bored Pepe comes at a cost of 0.08 ETH. In order to gain access to members-only areas like the PEPE LOUNGE, holders of Bored Pepe will need to be signed into their Metamask Wallet.Upon purchasing a Bored Pepe, one isn't simply acquiring an avatar or a provably rare piece of art. Instead, purchasers are becoming a member of an exclusive club, the benefits and offerings of which are poised to expand over time. A Bored Pepe can act as a digital identity and unlock virtual opportunities for its owner.The BPVC Lounge, an exclusive area for Pepe holders, will become operational once the sale period concludes. It features a canvas that is only accessible to wallets that contain at least one pepe. As one might expect in any quality bar, this is the place for users to draw, jot down thoughts, or write expletives.Every fifteen minutes, each pepe-holder is granted the privilege to paint a pixel on the bathroom wall. This can be seen as a collective art experiment in the cryptosphere: a members-only canvas for the sophisticated minds of crypto Twitter.About BPVC TokenBased on ERC-20, BPVC has a fixed total supply of 1 trillion (i.e. 1,000,000,000,000). It was listed on LBank Exchange at 10:00 UTC on Jun 12, 2023, investors who are interested in BPVC can easily buy and sell it on LBank Exchange now. The listing of BPVC token on LBank Exchange will undoubtedly help it further expand its business and draw more attention in the market.Learn More about BPVC Token:Official Website | Twitter | Telegram | Opensea | ContractAbout LBankLBank is one of the top crypto exchanges, established in 2015. It offers specialized financial derivatives, expert asset management services, and safe crypto trading to its users. The platform holds over 9 million users from more than 210 regions across the world. LBank is a cutting-edge growing platform that ensures the integrity of users' funds and aims to contribute to the global adoption of cryptocurrencies.Start Trading Now: lbank.comCommunity & Social Media:Telegram lTwitter lFacebook lLinkedIn lInstagram lYouTubeContactLBK Blockchain Co. [email protected]

[PRESS RELEASE – Los Angeles, USA, June 2nd, 2023] OvalPixel announced the launch of its groundbreaking blockchain-powered artificial intelligence (AI) trivia game that pays players in crypto tokens. The OvalPixel AI game token with the symbol $OPAIG allows players of all ages and experience levels, from gamers to grandmas, to earn OPAIG utility tokens by […]

Los Angeles, USA, June 2nd, 2023, ChainwireOvalPixel announced the launch of its groundbreaking blockchain-powered artificial intelligence (AI) trivia game that pays players in crypto tokens.The OvalPixel AI game token with symbol $OPAIG allows players of all ages and experience levels, from gamers to grandmas, to earn OPAIG utility tokens by correctly answering trivia/quiz questions generated in real time by OvalPixel’s innovative AI system.We live in an age of constant connectivity and information at our fingertips. But one thing has been missing—until now. OPAIG is the first play-to-earn game that harnesses the power of AI, blockchain technology and crypto to revolutionize how people play and interact.Players can then exchange their OPAIG tokens for real money through the Banana Crystal Payments platform or use them in-game to buy exciting 3D NFT trophies from the FlatPyramid 3D Model Marketplace.To enable mainstream audience access, OvalPixel has partnered with Banana Crystal Payments. This allows anyone to play OPAIG and earn tokens which they can simply convert to USDT digital dollars. No complex crypto knowledge is needed.OvalPixel will institute a continuous buyback and burn mechanism to increase the value of OPAIG tokens over time. In addition to buying back and burning OPAIG tokens, OvalPixel will also buy back redeemed tokens and reintroduce them into the rewards pool. Thus, preventing the need to mint additional tokens and inflating the supply, and helping with the preservation of OPAIG’s value.This means that early adopters stand to gain the most as supply decreases and demand rises.The company will also airdrop free OPAIG tokens to early adopters and players.“We believe OPAIG represents the future of gaming, AI and blockchain technology,” said OvalPixel CEO George Egbuonu. “For the first time, we have created a seamless experience that fuses these revolutionary technologies in an accessible way for the masses. Players of all backgrounds can now enjoy the benefits of crypto and be rewarded for expanding their knowledge.”The OPAIG game is available now for play on the OvalPixel website. OvalPixel aims to onboardmillions of active players in the first year and demonstrate how blockchain and AI can go mainstream. The revolution starts today at OvalPixel with the fusion of AI, blockchain technology and crypto. Users can play to earn and get paid in crypto.OPAIG token is now trading on the Uniswap Polygon chain (Trading Pair: $OPAIG - $MATIC). Users can take part in the revolution and play to earn real crypto rewards.About OvalPixelOvalPixel provides a Play to Earn Blockchain-Powered AI Trivia & Quiz Game. The AI game generates new trivia multiple choice questions and answers on any topic on-demand so players are always challenged and expanding their knowledge. Players can play with ease and win OPAIG utility tokens and redeem them for digital dollars through the Banana Crystal payment platform.Visit: https://ovalpixel.com/About Banana Crystal PaymentsBanana Crystal is the leading peer-to-peer payment provider enabling user-friendly web3 payment technology. It provides onramp and offramp crypto-fiat and vice versa solutions as the official payment network for AI and Gaming Applications. It is the only payment network that works anywhere and everywhere in the world and its users are able to send and receive payments for FREE.Visit: https://www.bananacrystal.com/ContactOvalPixel AI Trivia Game | Play2Earn $OPAIG [email protected]

Epic Games is steaming ahead with plans to list NFT games on its store, while the second 3AC NFT auction on Sothesby's is slated to take place this month.

Tel Aviv, Israel, April 25th, 2023, ChainwireTinyTap, a subsidiary of Animoca Brands and the leading edtech platform for user-generated educational games, today announced that it has raised US$8.5 million from investors including Sequoia China, Liberty City Ventures, Kingsway Capital, Shima Capital, Polygon, GameFi Ventures, and others. The funding will be used to support TinyTap’s business expansion and accelerate development in the edtech space.The investment will enable TinyTap to continue to expand its successful Web2 platform, which already serves over 9.2 million registered members, into an alternative Web3 education system that better values teachers by improving the earning opportunities available to them, and enables parents and communities to support and promote their preferred educational materials.TinyTap launched its Web3 strategy in 2022 with two successful auctions of Publisher NFTs, which generated 243 ETH (approximately US$352,000 at times of auction). Publisher NFTs are a new concept introduced by TinyTap to better empower, reward, and incentivize educational content creators and publishers.Each Publisher NFT represents co-publishing rights to one TinyTap Course, which is a curated bundle of educational games made on the TinyTap platform by one teacher in one specific subject. When these NFTs are sold, the proceeds are shared with the Course creators, and the NFT buyers assume the role of co-publishers. In return for promoting and marketing the associated Courses, the buyers share in the benefits generated from co-publishing efforts.Since the TinyTap Publisher NFTs were auctioned in Q4 2022, the average income to NFT buyers resulting from their co-publishing efforts amounted to approximately 8.2% (or 19.7% annualized) of the purchase price of the Publisher NFTs*.The Publisher NFT model is therefore able to simultaneously benefit the creators of educational content, the buyers of the Publisher NFTs, and TinyTap. This frees the creators to focus their efforts on generation of quality content, while TinyTap and the buyers of Publisher NFTs distribute and promote the content.Misa Matsuzaki owns two Publisher NFTs and earned about $7,823 from November 2022 to March 2024 by co-publishing the associated courses. She commented: “TinyTap helps teachers to actualize great ideas into educational content that can be accessed regardless of location – for example, one of the courses I bought was adapted for Japan. I did the first translation and voice over myself with the help of the TinyTap team. I look forward to seeing how Japan will welcome these exciting new possibilities in education! I would like to see more use cases like TinyTap Publisher NFTs, which are so much more interesting than just having NFTs sitting in our wallet!“Yogev Shelly, CEO of TinyTap, commented: “Our Publisher NFTs genesis auctions demonstrated that the Web3 community is well suited and willing to support educators and educational content via this new powerful and equitable incentive system. By pairing educational content creators with interested promoters, we are able to benefit all parties fairly and take a significant step in our goal to put the power of learning back in the hands of educators, students, and the community.”Yat Siu, co-founder and executive chairman of Animoca Brands, commented: “Teachers and educators are among the most important content creators and contributors in society, and yet their wages typically do not reflect their critical importance. This is why we’re incredibly excited at the Web3 opportunities that TinyTap is exploring in the field of education. Having already succeeded in building a Web2 education platform, TinyTap is now supercharging its efforts using NFTs, making it possible for educators to better generate equity from their work and link up with co-publishers who can handle the promotion of their courses, all while offering students enhanced learning materials.”Follow TinyTap on Twitter to keep updated on future developments or visit the Web3 landing page to learn more.About TinyTapTinyTap, a subsidiary of Animoca Brands, was founded in 2012 and is the world’s largest educational games library with more than 250,000 activities made by educators and publishers including Sesame Street and Oxford University Press. Games are created using TinyTap’s code-free authoring platform and can be accessed by parents as part of TinyTap’s subscription or sold directly to families as bundles. A portion of subscription revenue is shared with content creators based on the user engagement generated by their content. TinyTap is among the top 10 grossing kids apps worldwide, delivering educational content to families in the US, Canada, Europe, and the Arab world with a focus on young learners (Pre-K to Grade 6), serving 9.2 million registered family members with content created by over 100,000 creators. Learn more at https://www.tinytap.com.About Animoca BrandsAnimoca Brands, a Deloitte Tech Fast winner, a Fortune Crypto 40 company, and one of the Financial Times’ High Growth Companies Asia-Pacific 2023, is a leader in digital entertainment, blockchain, and gamification that is working to advance digital property rights and contribute to the establishment of the open metaverse. The company develops and publishes a broad portfolio of products including original games such as The Sandbox, Phantom Galaxies, Life Beyond, Crazy Kings, and Crazy Defense Heroes, and products utilizing popular intellectual properties including Disney, WWE, Snoop Dogg, The Walking Dead, Power Rangers, MotoGP™, and Formula E. It has multiple subsidiaries, including The Sandbox, Blowfish Studios, Quidd, GAMEE, nWay, Pixowl, Forj, Lympo, Animoca Brands Japan, Grease Monkey Games, Eden Games, Life Beyond Studios, Notre Game, TinyTap, Be Media, PIXELYNX, and WePlay Media. Animoca Brands has a growing portfolio of more than 380 Web3 investments, including Colossal, Axie Infinity, OpenSea, Dapper Labs (NBA Top Shot), Yield Guild Games, Harmony, Alien Worlds, Star Atlas, and others. For more information visit www.animocabrands.com or follow on Twitter or Facebook.Contact: [email protected] [email protected]

CoreWeave, a specialized cloud provider, recently announced the successful completion of a $221 million Series B funding round. This comes after the company previously raised $50 million from lead investor Magnetar Capital in November 2021. The latest round saw contributions from major silicon design firm NVIDIA, Nat Friedman, and Daniel Gross, with Magnetar Capital taking lead. The funds raised are set for allocation for the purpose of expanding CoreWeave's cloud infrastructure for massive computational workloads such as artificial intelligence, machine learning, visual effects, rendering, batch processing, and pixel streaming. According to CEO and co-founder Michael Intrato, NVIDIA's support will prove instrumental in helping the company continue to scale its operations. Established in 2017, CoreWeave utilizes clourd technology to scale graphics processing unit (GPU) computational resources, offering solutions it claims are "35 times faster and 80% less expensive" than competitor offerings. Initially, the firm began as an Ethereum miner, using GPUs to verify transactions on the previously proof-of-work blockchain. Why the transition? The transition of companies like CoreWeave from focusing on crypto and blockchain to artificial intelligence (AI) and related technologies can be attributed to various factors, including market trends, technological developments, and the growth potential in AI-driven industries. This shift is also indicative of the increasing competition in the crypto and blockchain landscape. As more businesses and startups emerge in this space, companies that initially built their foundation in crypto and blockchain technology may find it chall;enging to maintain their edge. By diversifying into AI and other emerging technologies, they can explore new opportunities and tap into different market segments, thereby mitigating the risks associated with relying solely on the crypto market. Technological developments also play a significant role in this shift. As the capabilities of AI and machine learning (ML) continue to advance, their applications in various industries are growing exponentially. Companies like CoreWeave can leverage their existing expertise in computational resources and infrastructure, which are essential for both blockchain and AI, to cater to the growing demand for high-performance computing in AI-driven industries. "AI has reached an inflection point, and we’re seeing accelerated interest in AI computing infrastructure from startups to major enterprises,” shares Manuvir Das, Vice President of Enterprise Computing at NVIDIA. NVIDIA itself has made some harsh statements, comparing crypto to AI. Another reason for this shift is the changing landscape of blockchain technology itself. For instance, Ethereum, one of the most popular blockchain platforms, has transitioned from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model. This change has rendered Ethereum mining unattractively less profitable, and alongside it, the use mining GPUs became unfit, affecting companies like CoreWeave which initially focused on crypto mining. CoreWeave's latest funding will facilitate the expansion of its specialized cloud infrastructure for compute-intensive workloads, including AI and machine learning, visual effects, rendering, batch processing, and pixel streaming. This strategy enables CoreWeave to deliver purpose-built solutions capable of outperforming larger, more generalized cloud providers. The new capital will also support the opening of two new U.S.-based data centers this year, bringing CoreWeave's total North America-based data centers to five. “CoreWeave’s innovative, agile and customizable product offering is well-situated to service this demand and the company is consequently experiencing explosive growth to support it. We are proud to collaborate with NVIDIA in supporting CoreWeave’s next phase of growth as it continues to bolster its already strong positioning in the marketplace," shares Ernie Rogers, COO at Magnetar. With the rise in demand for generative AI technology, CoreWeave is poised to capitalize on this burgeoning market. Its partnership with industry leaders such as NVIDIA and Magnetar Capital is key to bolstering its efforts at scaling and expansion, positioning the company to become a significant player in the rapidly evolving world of AI and cloud-native technologies. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.