Fun

OpiPets: The Rise of Blockchain in Formula 1

News Feed - 2022-06-14 02:06:06

OpiPets: The Rise of Blockchain in Formula 1 press release


PRESS RELEASE.Formula One is one of the greatest sports in the world and brings about the best automobile teams which compete for the title yearly. From the racing tracks in Spa to the roads of Monte Carlo in Monaco, Formula One has developed into a billion-dollar industry with teams and drivers boasting a cult following globally.


The relationship between Formula One and the blockchain industry has grown in recent years. In part due to the growing adoption of crypto and blockchain technology. Crypto.com made a significant splash when it was announced as a Global Partner of Formula One in 2021. They are not alone. Binance, FTX, Velas, Bybit, Tezos and memecoin project Floki have established partnerships within Formula 1.


The familiarity between Forumla 1 and blockchain companies demonstrates the acceleration of consumer adoption of blockchain and crypto related products and services. Where Shell, Hewlett Packard and Coke once stood, cryptocurrency exchanges, harware wallets and blockchain protocols now lead the way. The success of new concepts like NFTs has also inspired Formula One teams looking to increase consumer engagement through limited card collections that provide exclusive content and access for fans worldwide.


Opis Group and OpiPets took part in the Monaco NFT and Swim week conference which took place during the Grand Prix weekend. As one of the oldest and most prestigious dates on the F1 calendar Monaco played home for a hive of blockchain related activity.


OpiPets, a Free Play-to-Earn project and sister company Opis Cloud showcased their use cases and product development with other successful projects and tech investors.


Building an innovative P2E ecosystem


Although Play-to-Earn has attracted over a million users within its first two years, majorly due to its promise to reward players with crypto and NFT ownership, it is still faced with an uphill climb in terms of broader mainstream adoption.


The start-up costs for new players are a major barrier to the widespread adoption of P2E games. Participants must spend up to a thousand dollars to begin. Many people cannot afford to test it and often regard it as a risky investment. Many players are still dissatisfied after attempting to recover their initial investment.


Contrary to the original idea, many so-called P2E games have transitioned into Pay-to-Earn. This is due to their unsustainable tokenomics which invariably makes them abandon their original ideals.


OpiPets is one of the few projects that distinguishes itself from the popular model. It’s a free P2E online game in which players are rewarded with cryptocurrency and the ability to create, battle, obtain, and trade their own NFT OpiPet characters.


OpiPets uses the P2E concept and focuses on giving the community actual ownership of assets produced and digital economies and new ways to generate income.


More developments on the horizon


The OpiPets team has continued to work tirelessly to significantly reduce the adoption barriers that limit the popularity of blockchain games. It also plans to launch its game in Q3 2022. The game is expected to include exciting features and products for users to explore its ecosystem and acquire new assets.


 


 


  Tags in this story Formula 1, OpiPets


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Bitcoin.com Media


Bitcoin.com is the premier source for everything crypto-related. Contact ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options. Legend Animator from Japan to Launch Identity Defining NFT Brand “BOSO Tokyo” PRESS RELEASE | 7 mins ago Crypto Lending Company Blockfi Cuts Staff by 20% NEWS | 2 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBiggest Movers: DOGE, SOL Hit 1-Year Lows as Cryptos Crash Next articleLawsuit Accuses Binance US of Selling Unregistered Securities, False Advertising Terra UST as ‘Safe’ More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days


Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin

News Feed

Rakesh Upadhyay4 hours agoPrice analysis 10/13: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, DOT, MATICBitcoin trades in a predictable range, but will the sideways price action tempt altcoin traders to open new positions?104
LBank Exchange Will List FutureCoin (FUTURE) on February 9th, 2022
LBank Exchange Will List FutureCoin (FUTURE) on February 9th, 2022 press release PRESS RELEASE. INTERNET CITY, DUBAI, Feb. 8, 2022,LBank Exchange, a global digital asset trading pla
Limitless Bailouts: US Federal Reserve Announces Billion-Dollar Corporate Bond Purchase Program
Limitless Bailouts: US Federal Reserve Announces Billion-Dollar Corporate Bond Purchase ProgramDuring the last three months, the U.S. Federal Reserve has created a system of monetar
Dogwifhat leads the market with 13% gain — What’s driving WIF price?
Nancy Lubale30 minutes agoDogwifhat leads the market with 13% gain — What’s driving WIF price?WIF booked a double-digit rebound to outperform memecoins, Bitcoin and altcoins which remain in sell-off mode.143 Total vi
Bitcoin Cash open interest folds 47% since halving as price slides
Ciaran Lyons2 hours agoBitcoin Cash open interest folds 47% since halving as price slidesThe majority of its price decline occurred on April 10, with a steep drop of 7.51% within a three-hour window.1043 Total views11 To
Derek Andersen3 hours agoIMF sees climate change, DAOs, CBDC as threats to Marshall Islands, urges reformsEntering the crypto economy is not a good idea for a country with “capacity constraints” and no central bank,
Paraguay floats temp crypto mining ban as illegal ‘farms’ cripple grid
Jesse Coghlan5 hours agoParaguay floats temp crypto mining ban as illegal ‘farms’ cripple gridThe ban would last 180 days or until new laws are enacted and the national power grid operator can ensure it can supply su
Bitcoin, Ethereum Technical Analysis: ETH, BTC Climb for Back-to-Back Sessions for First Time in Nearly 2 Weeks
Bitcoin, Ethereum Technical Analysis: ETH, BTC Climb for Back-to-Back Sessions for First Time in Nearly 2 Weeks Bitcoin was trading higher for a second consecutive session on Tuesd
Russian Court Recognizes Cryptocurrency as Means of Payment, Prosecutors See Precedent
Russian Court Recognizes Cryptocurrency as Means of Payment, Prosecutors See Precedent The City Court of St. Petersburg has recognized a large amount of cryptocurrency handed over
South African Tax Body Updates Crypto Tax Guidance, Confusion Persists
South African Tax Body Updates Crypto Tax Guidance, Confusion Persists In late August, the South African Revenue Service (SARS) released new guidelines that clarify the correct tre
Oil land buyer LandBridge makes a nod to crypto miners in $320M IPO
Jesse Coghlan3 hours agoOil land buyer LandBridge makes a nod to crypto miners in $320M IPOLandBridge has a huge amount of land in the middle of America’s oil country, but it also says it can make big money off crypto
LoFi-DeFi Fair Launch Is Set to Smash Records
LoFi-DeFi Fair Launch Is Set to Smash Records press release PRESS RELEASE. The last two weeks saw decentralized finance cryptocurrency startup LOFI-DEFI gain inte