WAX_X(WAX)

Layer-1 blockchain Worldwide Asset Exchange (WAX) signed a deal to use Amazon Web Services (AWS) and integrate the WAX network into the Amazon Managed Blockchain (AMB) service.

According to customer emails, the changes will go into effect starting Nov. 30.

The Republic of Namibia pivots on its crypto stance by introducing a law regulating the digital asset industry, ending the country’s total ban on cryptocurrencies. Last week, the Namibian government signed its virtual assets bill into law after outlawing cryptocurrencies almost six years ago. Namibia Choses Regulation Over Ban Namibia officially signed into law its Virtual Asset Service Providers Act 2023 last week. The Government Gazette published the law on July 21 after it received approval from its National Assembly on July 6 and was signed by President Hage Geingob on July 14. The law will come into force on a date yet determined by the country’s Ministry of Finance. Namibia’s first law overseeing crypto-asset-related activities assigns regulatory authority over crypto exchanges. The bill mainly aims to ensure consumers are protected, market abuse is prevented, and the risks of money laundering and terrorism financing are mitigated. The south African country maintained a ban on cryptocurrencies previously. The Bank of Namibia (BON), the country’s central bank, upholds its position that cryptocurrencies will not become legal tender. Crypto exchanges and providers that do not comply with the regulations set out in the law could face penalties of up to 10 million Namibian dollars, equal to about $671,000, and 10 years in prison. Namibia Softens Its Approach to Bitcoin The country announced in October 2022 that while Bitcoin and other crypto are not recognised as legal tender, its central bank announced it included “virtual assets (VA) and virtual assets service providers (VASP) under its Fintech Innovations Regulatory Framework in a phased approach, through its innovation hub.” The BON’s announcement clarified that retailers and traders may accept money in the form of Bitcoin if they are willing to engage with cryptocurrencies and accept the risks inherent to digital assets. At the time of its announcement, the BON said it was considering revising appropriate laws and regulations pertaining to the industry. Johannes Gawaxab, the Governor of the BON, further stated the bank was examining the viability of issuing a central bank digital currency (CBDC). Gawaxab, a long-time sceptic of crypto, argued CBDCs offer something that privately issued digital currencies do not. 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.

They say that when the crypto market hibernates, serious projects constructing the infrastructure of the industry are able to focus on building, without the background noise of hyped up tokens and bandwagons. Think of it like staying late in the office to catch up—no phone calls, nudging coworkers, or small talk. Just deep work. So it seems there are more than a few serious projects in Web3 gaming. The industry was able to raise $4.5 billion in venture capital last year despite harsh market conditions. Web3 gaming still, however, needs solutions to an overall developer shortage and an abundance of flawed UX that effectively holds back its efforts to create crossover appeal with traditional gamers. Furthermore, many critics point the finger at the lack of sustainable models and solid content-creator strategies as reasons for Web3 not being able to be a reliable gaming ecosystem. Leading blockchain startup Spielworks aims to fill these blindspots by launching Wombat X, a Web3 gaming accelerator to empower Web3 gaming projects to enhance their gaming experience and grow their audiences. The Wombat X accelerator enables innovative Web3 games to register and to bootstrap Spielworks’s Wombat audience, one of the biggest Web3 gaming platforms. With more than 3 million sign-ups and 65,000 daily users, the Wombat ecosystem incorporates a multi-chain noncustodial Wombat Wallet, crypto rewards platform Womplay featuring 40 AA and AAA supported titles, and Top 20 NFT staking game Wombat Dungeon Master counting 1.5 million staked NFTs. Highlighting the list of partners in the accelerator are Cronos, the first EVM-compatible Layer-1 network built on Cosmos SDK supported by Crypto.com and more than 400 developers and partners, and Newcoin, a Web3 infrastructure integrating economic, social, and cultural exchanges into an intuitive flow, solving network fragmentation problems. Spielworks CEO and Co-Founder Adrian Krion said of Wombat X: “Web3 gaming is in a beta stage currently and there is a pressing need to establish best practices around game development to ensure the industry’s long-term sustainability. By working with a wide range of promising Web3 gaming projects and startups, Wombat X aims to facilitate a more mature ecosystem. Our unique program provides a diverse educational curriculum while exposing our participants to Spielworks’ Wombat platform, the biggest Web3 gaming platform. Needless to say, we and all our partners can’t wait to launch.” With Wombat’s massive audience and Cronos’s established Web3 ecosystem, each game will receive invaluable exposure to its gaming audience for free, coaching and fast-tracking in Cronos’s own grant program. For Newcoin, its Web3 graph infrastructure emphasizing high-end fashion and creators makes it a natural fit for Wombat X’s focus on gaming to enhance the user experience. To apply for Wombat X, applicants must meet these requirements: A playable demo release Integration with Wombat as preferred login option Integration with Cronos or one of Wombat’s supported blockchains (Wax, Polygon, BNB Chain, Ethereum, EOS, and more) A share of 0.3 percent of your token supply for Wombat’s audience Integration with Wombat’s Tracking software development kit (SDK) Other early participants in the Wombat X accelerator program include Web3 development studio Avicenne, open-source platform EOS Network Foundation, Web3 gaming analytics platform Lifty, and gaming infrastructure platform Beamable. 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.