FinTech news in EC Cryptocurrency category

Decentralized finance (DeFi) is often associated with trusting blockchain technology to execute services through smart contracts, while centralized finance (CeFi) usually refers to more traditional business models and involves having people manage funds and manually execute services. As the crypto market digests the past few days of chaos, venture capitalists see the moment as a warning, but also an opportunity for the growth of decentralization and maturation of the larger blockchain space. When there are massive crashes and burns, it speaks to what we’ve been seeing over the past decade: It the Wild West out there, Samantha Lewis, principal at Mercury, said to journalist.

Some games, like Delysium and Ember Sword, were initially developed for the layer-2 blockchain Polygon but switched to Immutable X, the company’s NFT platform and layer-2 scaling solution for the Ethereum blockchain. Today, Immutable X launched GameStop’s NFT marketplace out of beta, which will provide GameStop players and customers across the U.S. access to NFTs tied to games on its layer-2 chain. Earlier this year, Immutable, a web3 gaming firm with its own layer-2 chain, Immutable X, launched a whopping $500 million fund to boost gaming on its platform. This announcement follows GameStop and Immutable X’s partnership and $100 million joint grant fund from February.