Michael Jackson on Blockchain, Web3 Gaming Trends for 2024: Awesome Newsletter
In this week’s newsletter, read about how Michael Jackson’s first recording appears on the blockchain and why ParaSpace, a non-fungible token (NFT) lending protocol, has been renamed Parallel Finance. See how the Rarible ecosystem is stepping up its royalty enforcement efforts, and learn what gaming industry executives think about the future of blockchain gaming in 2024.
Michael Jackson’s first studio demo is released on blockchain
An NFT of Michael Jackson’s “Big Boy (One-Derful Version)” track is being released on the blockchain via music platform Anotherblock. This track is the first studio recording by a young Michael Jackson.
The track was recorded in 1967 when an eight-year-old Michael Jackson recorded his first studio session with his brothers at One-Derful in Chicago. Michel Traore, CEO and co-founder of Anotherblock, told Cointelegraph that adding the track to the chain will give the song more value than just a commodity.
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ParaSpace will continue NFT lending while rebranding as Parallel Finance.
ParaSpace, an NFT lending protocol, will be rebranded as Parallel Finance with a greater focus on decentralized finance and NFT lending. Yubo Ruan, CEO and founder of Parallel Finance, told Cointelegraph that he believes NFT margin lending is still viable despite the market downturn.
Ruan added that NFT lending serves a “niche but growing segment of collectors” looking to leverage their investments.
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Rarible’s RARI Foundation Leverages Arbitration on Loyalty-Embedded EVM Chain
The RARI Foundation, the non-profit arm of NFT marketplace Rarible, has launched a testnet for an Ethereum Virtual Machine-compatible blockchain called RARI Chain. According to the announcement, the blockchain will have royalties embedded in nodes, further solidifying the Rarible ecosystem’s commitment to royalty enforcement.
Jana Bertram, director of the RARI Foundation, said in a statement that it is necessary to provide creators with the tools and environments that contribute to their success. “Our commitment is to prevent creators from being disinterred by the growth of Web3,” said Bertram.
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Web3 Gaming Trends for 2024: Executives Weigh the Future of Blockchain Gaming
As blockchain gaming continues to become mainstream, executives working in the gaming industry have weighed potential trends for 2024. Henry Jang, CEO of game developer Wemade, said that as developers gain confidence, usability will become more complex. Utilizes blockchain elements within in-game mechanics and gameplay.
Meanwhile, Bartosz Skwarczek, founder and CEO of G2A Capital Group, believes that there will be a need for a true Triple A-rated Web3 game in 2024 to act as a catalyst to drive the growth of blockchain games.
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Thank you for reading our digest of this week’s most noteworthy developments in the NFT space. Come back next Wednesday for more reports and insights into this actively developing space.
