Daily Crypto News Feb 24, 2022: Top 3 Crypto Updates for Today

In today’s crypto news, Puma, the sportswear company, just joined Nike and Adidas in the Metaverse world. It’s the latest in a long line of famous brands to buy a decentralized URL and change their Twitter name to Puma.eth to reveal their nonfungible token, or NFT. What are .eth domain names? Find out below.

According to a job posting on Linkedin, Spotify may be taking its initial steps into the Web3 world. The streaming service is looking for a senior backend developer to experiment with the emerging technology. Read more on this news below.

Game dapps like Axie Infinity, Splinterlands, and The Sandbox have set the basis for a revolution in the gaming paradigm by embracing the play-to-earn concept. The mainstream media’s coverage of NFT ownership and its interaction with the metaverse has only fueled the excitement for blockchain games. And in January, $1 billion was invested in blockchain games. Find more insights below.

Quick Crypto News Roundup! 

Daily Crypto News  Feb 24, 2022

Puma Registers ENS Domain, Changes Name to Puma.eth On Twitter

The German sportswear company, Puma, just registered the domain name “Puma.eth” with The Ethereum Name Service or ENS. This is one of the many NFT-related actions taken by the firm. Puma has invested in many feline-inspired NFT collections, including Cool Cats NFT, Lazy Lions, Gutter Cat Gang, and CatBlox, according to the Puma.eth OpenSea page.

All.ETH names are NFTs that can be “simply plugged-in” to the ever-expanding NFT ecosystem.” The ability to receive any cryptocurrency, token, or blockchain-based asset, as well as point to a decentralized website, save profile pictures such as an avatar, email address, or Twitter handle, are just a few of the advantages of having an ENS domain name.

Read: How to Assess the Value of an NFT

Source: CoinTelegraph

Spotify Is Hiring A Senior Backend Engineer To Explore Web3

Spotify has a job posting on Linkedin for a senior backend engineer to explore web3. According to the job advert, the engineer will be a member of Spotify’s freemium experimental growth team. 

They’ll be tasked with “uncovering the next growth opportunity” using new technologies like web3, as well as designing and performing trials on new and existing products. Experience guiding explorations and prototyping new products is also required, according to the job description.

The company is also looking for a senior manager in innovation and market intelligence who has “expertise with new trends,” particularly those connected to web3.

Read: What are digital assets?

Source: TheBlock

Over $1 Billion Invested in Blockchain Games in January Alone

The most important January events for blockchain gaming, a category that accounted for 52% of the blockchain’s activity in 2022, were studied in DappRadar’s latest research.

Blockchain games and their infrastructure raised nearly $1 billion in January alone. The sum includes a $300 million investment in OpenSea, which, while not a direct gaming venture, is critical to the game item trading market.

In January alone, DeFi Kingdoms generated almost $1.6 billion in transactions, 243% more than Axie. The game dapp currently owns $775 million. Crazy Defense Heroes becomes the second most used dapp on the network, with 41,000 daily UAW on average, showing the potential of Polygon’s gaming ecosystem. Economic changes in the Axie ecosystem may have a short-term influence on the game’s stats, but they will increase its long-term viability.

Read: How to Mint NFTs: Step by Step Guide

Source: DappRadar

Crypto Market Trend February 24, 2022

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

*All prices are latest by 11 AM IST February 24, 2022.*

Top 3 Crypto Losers 

*All prices are latest by 11 AM IST February 24, 2022.*