There are all kinds of exciting events taking place in the crypto space. Check out the latest exciting reports about a metaverse and gaming altcoin below.
Exciting altcoin explodes in price
There’s some pretty exciting news about an altcoin from the metaverse sector is skyrocketing following a new community proposal that will affect its tokenomics.
Klaytn (KLAY) is a public enterprise blockchain focused on artists, non-fungible tokens (NFTs), gaming, and entertainment., as the online publication the Daily Hodl notes.
Check out more details about the project below via the same online publication mentioned above:
“Klaytn is currently being rebuilt into a “metaverse scale” blockchain, with multiple milestones lined up for the next two years or so, including changes in developer support, governance and updates to make the chain Ethereum (ETH) compatible.”
The project’s community has proposed a new update to tokenomics – this would reduce block rewards by one-third.
The same notes revealed that the new tokenomic structure aims to reflect changes in the global macro economic climate.
“In order to facilitate sustainable growth, tokenomics should be designed to drive demand for KLAY; in optimal scenarios, inflation and circulation should aim to be delta neutral in relation to demand. Achieving this balance is critical to the security and economics of Klaytn’s ecosystem.”
Massive investments in web3 and metaverse
Back in September, we revealed that there’s a new Dappradar report that says investments in the blockchain gaming and metaverse projects are going strong. The big investors are dropping a lot of cash into the crypto subsectors.
According to the data acquisition and analysis firm, Web3 gaming and metaverse projects have collected about $748 million in investments since August despite the general downturn in the crypto space.
According to the reports revealed by the online publication the Daily Hodl, among the big investments, last month is the $200 million raised by mobile gaming icon Gabriel Leydon for Limit Break.