Ethereum (ETH) started the nonfungible token (NFT) craze, but it turns out minting and trading NFTs while adopting the concept for larger projects or integrating it into metaverse and other ecosystems might not be feasible given the high gas fees, especially when there are several viable alternatives. OVR, a decentralized augmented reality (AR) project that relies on NFTs, has recently decided to move from Ethereum to Polygon (MATIC) – a layer-2 chain that ensures greater scalability and flexibility. Decentralized AR experience OVR started as an Ethereum-based open-source AR platform that lets users with a mobile device or smart glasses interact …

Nonfungible tokens (NFTs), gaming protocols and the dawn of the Metaverse were all trending topics in 2021 and they are shaping up to be even bigger in 2022. NFTs and Metaverse-related projects are also bouncing back quickly from the market-wide downturn and Vulcan Forged (PYR) is one of the top movers this week. The project is a blockchain game studio and NFT marketplace that is in the process of developing out its VulcanVerse ecosystem. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $6.59 on Jan. 24, the price of PYR has rallied 119% to …

Decentralized finance (DeFi) and the control it gives users over their assets is one of the most applicable sectors of the cryptocurrency ecosystem, but the general public is still hesitant to interact with most DeFi products due to the steep learning curve and the possibility of losing funds. One decentralized exchange (DEX) that is taking strides toward bridging the gap between DeFi and centralized finance (CeFi) is QuickSwap (QUICK), the top ranked DEX on the Polygon network. Data from Cointelegraph Markets Pro and TradingView shows that the price of QUICK saw a rapid 50% spike in value from $166.40 on …

In the crypto market volatility continues to reign supreme, and fear, uncertainty and doubt (FUD) run rampant. This makes it challenging for any project to rise above the noise and post positive price gains but there are a few projects that are showing strength during the current downturn. Kyber Network (KNC) is a multi-chain decentralized exchange (DEX) and aggregation platform designed to provide decentralized finance (DeFi) applications and their users with access to liquidity pools that provide the best rates. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a bottom of $1.18 on Jan. 6, the price …

Polygon (MATIC) emerged as one of the best performers among high-ranking cryptocurrencies on Wednesday as the price rose nearly 17% to reach an intraday high at $1.825. The gains surfaced amid a synchronous rebound across the crypto market that started on Jan. 24. In detail, investors and traders poured in over $250 billion across digital assets, benefiting Bitcoin (BTC), Ether (ETH) and many others in the process. Polygon, a secondary scaling solution for the Ethereum blockchain, also cashed in on the crypto market rebound. The valuation of its native token, MATIC, rose from as low as $9.77 billion on Jan.24 …

On Tuesday, Ryan Wyatt, head of gaming at YouTube, announced he would be leaving the video-sharing platform in February. Partly due to his leadership, YouTube Gaming sees over 250 million daily logged users per day with hundreds of billions of watch time each year. Wyatt cited his passion for blockchain and Web 3.0 development in explaining his resignation. H will soon join Polygon Studios as its CEO. Polygon Studios is the gaming and non-fungible tokens, or NFTs, arm of the namesake layer two Ethereum (ETH) scaling network (MATIC). Polygon plans to commit $100 million to projects led by its subsidiary …

The pain trade has been an unwelcome sight across the cryptocurrency market since the start of 2022 and over the past 24 days Bitcoin (BTC) and the altcoin prices have drifted, leading some analysts to suggest that a bear market is at hand. Despite traders' concern that another extended crypto winter could be starting, it times like these when investors can capitalize on great opportunities to pick up fundamentally sound cryptocurrencies at a discount. In that vein, here’s a closer look at several projects with strong fundamentals and a proven use case that could be good candidates for accumulation during …

Nonfungible tokens have proven to be successful across a number of industries. From gaming to high-end luxury fashion, NFT use cases have demonstrated the importance of creating lasting connections between a company or a brand and its users/customers. As such, it shouldn’t come as a surprise that the billion-dollar event-ticketing industry is on its way to being disrupted by nonfungible tokens. Specifically, the online event-ticketing sector — which is expected to reach $60 billion by 2026 — will likely see an increase in NFT ticket platforms and marketplaces that issue virtual tickets across a blockchain network. Colby Mort, head of …

Opera, the Norway-based company behind the popular internet browser, has released the beta version of its new Crypto Browser Project. This crypto browser aims to facilitate the user experience of browsing DApps, games and metaverse platforms by offering direct access to Web3 services for Windows, Mac and Android users. The current Opera browser boasts a no-login VPN, and native ad & tracker blocker that help to make it secure. According to a release shared with Cointelegraph, the new crypto browser will maintain these security features, while integrating direct access to decentralized exchanges, NFTs and gaming DApps, as well as Telegram …

The Ethereum upgrade that introduced a partial network fee burning mechanism in August last year has launched on the layer-two scaling network Polygon. Ethereum’s EIP-1559 upgrade shipped with its London hard fork last summer and has been a success in terms of gas price predictability and network fee burning. The upgrade has now launched on the layer-two scaling network Polygon in an effort to improve “fee visibility”. It went live about an hour ago at block 23850000. The Polygon team announced the upgrade date on Jan. 17, following its successful deployment on the Mumbai testnet. The EIP-1559 upgrade introduces the …

Polygon prices look poised to rise by at least 30% in the wake of a key Jan. 18 upgrade that would push a considerable portion of its native MATIC token out of circulation. Dubbed EIP-1559, the improvement proposal originally came to light as part of Ethereum's so-called London Hard Fork upgrade on Aug. 5. The proposal effectively started destroying, or "burning," a part of the fees paid to miners via Ether (ETH). Traders and investors raised their bids for Ether before and after the EIP-1559 upgrade, noting that it made Ether a deflationary asset for the first time in history. …

On Monday, Polygon (MATIC), a layer two Ethereum (ETH) scaling solution known for its fast transaction times and negligible gas fees, announced the launch of Plonky2, a zero-knowledge scaling technology claimed to be the fastest in the world. Zero-knowledge algorithms ensure everything is correctly computed on layer two and return the succinct proof to Ethereum without sending the entire data. Instead of every miner, or staker, verifying every posted transaction, zero-knowledge allows the verification of simplified rolled-up proofs, thereby significantly speeding up the overall network. 1/2 We are proud to announce Plonky2, the world's fastest ZK scaling tech! Plonky2 is …