A London-based company rewards gamers for playing triple-A titles using its blockchain platform.
fruitlab empowers content creators to build a community and earn from playing their favourite games, hosting head-to-head challenges, sharing content and viewing other members’ content.
Fortnite, Apex Legends and PUBG are all connected to the platform, with more titles to follow. The platform has more than 100,000 monthly users.
fruitlab started with a content and social media platform in 2018 and has grown exponentially. The platform is underpinned by fruitlab’s own crypto token, the PIP, which has seen five billion transactions to date.
“We’re here to disrupt the gaming norms. For too long, content creators, gamers and game developers haven’t been able to fairly monetise their content or earn in a fun and fulfilling way,” said Cameron Leslie, CEO.
“Our new platform changes that. With fruitlab, you can play and earn – in an entertaining environment and, most importantly, community of like-minded gamers.
“The rise of social media platforms has led to disillusions of fair monetisation, as most platforms hoover up 95%+ of the economic value created. The lack of community-focused platforms for gamers currently requires multiple services, which is why we have created fruitlab to weave together all elements of social media into one place and to democratise.
“We’ve seen the rampant demand for a network that is owned by its members, today the launch of fruitlab answers that demand. We’re excited to grow our community and lead the way of Web 3.0 gaming.”
Cryptocurrency shorts
QQL, a collaborative generative art experiment, raised nearly $17 million in a mint on Wednesday afternoon. A collaboration between visual artist Tyler Hobbs and Dandelion Wist, co-founder of generative art platform Archipelago, the QQL algorithm is available for everyone to use – but only mint pass holders can turn their creations into official NFTs.
Circle is to roll out its USDC stablecoin across five additional blockchain networks: Polkadot, Optimism, NEAR, Arbitrum and Cosmos.
Circle has teamed up with TBD – the bitcoin-focused subsidiary of Twitter co-founder Jack Dorsey’s Block – to bring cross-border dollar-linked stablecoin transfers and savings to investors globally.
Banking system SWIFT has partnered with Chainlink to work on a proof-of-concept project which would allow traditional finance firms the ability to transact across blockchain networks.
Coral, behind Solana development framework Anchor, has closed a $20 million funding round led by FTX Ventures and Jump Crypto, and including Multicoin Capital, Anagram, K5 Global and Frictionless. It will soon launch its first flagship product, Backpack, a Web3 wallet that allows users to access crypto-native apps through executable NFTs.
Matthew Ballensweig, managing director of cryptocurrency broker Genesis, has stepped down and into an advisory role.
Crypto prices
The overall market cap of the more than 21,100 coins is at $940 billion at the time of writing (7am UK), a 2.2% increase in the last 24 hours.
For round-ups of recent cryptocurrency news developments, click here.
For valuations of the top 100 coins by market cap in US dollars, plus 24-hour price change, see below.