The lowdown this week...
- Nigeria leads the rankings in Google Search for crypto-related information
- Chinese web censor clamps down on crypto by closing 12K social accounts
- Roblox set to roll out immersive advertising systems by end of the year
- TamaDoge plans to reshape the future of Play-to-Earn
Roblox tests immersive advertising on platforms
David Baszucki, CEO of Roblox - stated that the company plans to test immersive advertising systems by the end of this year. The company is searching for new ways to monetize and has been in talks with multiple brands about creating new opportunities on the platform. They reported Q2 revenues of 591.2 million - a 30% increase year-on-year, but fell short with a loss per share of $0.030.
"Given that we did 4.7 billion hours of engagement in the month of July... You can see the potential relative to the advertising for hours."
David Baszucki, CEO of Roblox
Baszucki mentioned that the company plans to boost its advertising via pop-ups in a town square. Players will be able to roam around the square and click on the pop-ups to transport themselves into a brand new experience. The small pop-up town square is a unique opportunity for Roblox to expand its growth in the metaverse. The company aims to stray away from being known as a "human experience platform" and focus on shifting towards more forward-thinking innovations.
Order in The Court!
Cyberspace Administration of China removes 12,000 Social accounts promoting crypto
Chinese authorities are cracking down on online promotions and discussions surrounding cryptocurrencies. According to a watchdog, the Cyberspace Administration of China launched a new campaign recently targeting crypto speculation. Cryptocurrency news in China has continued to dwindle, as authorities incessantly aim to "clean up" content and users related to it.
Social media platforms such as Baidu and Weibo have already closed down 12,000 accounts that promote virtual currency trading. Additionally, more than 51,000 illegal threads with information such as "making easy money from investing in Bitcoin" were taken down from social platforms. 105 websites focused on virtual currency marketing, mining, and online tutoring have already been shut down. The Financial Regulatory Bureau of Shenzhen also warned in June that cryptocurrency trading and speculation "severely endangers people's property security." The Bureau has warned investors against involvement in illegal financial activities, and will continue with the clampdowns.
Talk of The Town
Nigeria ranks first on Google searches for crypto information
Nigeria has ranked first place in Google Search for crypto information, according to a CoinGecko study. The West African nation has the highest rate of curiosity in digital currency despite the bear market. Nigeria's youth has turned to crypto for quite some time now, amidst a declining Naira caused by inflation. The spike of P2P trading in Nigeria on LocalBitcoins and Paxful have pushed crypto trading volumes to rise even higher despite the ban. Some popular search phrases that Nigerians have been using include "buy crypto," "invest in crypto," and "investment in cryptocurrency." Additionally, a survey revealed that "women account for 50% of crypto investors and are on par with men." Digital assets have been a point of interest for many years for Nigerians, with more than 67% of the population being holders.
TamaDoge plans to reshape the landscape of meme coins
TamaDoge is a new meme coin and the gateway token of the Tamaverse - a realm to breed, mint, and battle with pets in the metaverse. TAMA is set to reshape the meme coin landscape by incorporating three main points of the market: NFTs, Play-to-Earn gaming, and the metaverse. It's currently in its beta presale, and each TAMA token costs just $0.01. This price will increase by 25% in the post-sale, so you should snap up TAMA soon!
The primary Play-to-Earn mechanic revolves around a player's ranking on the TamaDoge leaderboard. As players raise their pets and climb higher, their ranking will increase - granting them a larger portion of the rewards pool. This incentivizes players to level up their pet by buying new items for them. Meme coins are sometimes viewed as useless coins, due to their lack of utility and real-world value. TamaDoge aims to combat this stigma by implementing a wide array of utility-focused features in the near future.
Food for thought:
- Do you think TamaDoge will top Doge and be more appealing thanks to its utility?
- Which other South African countries do you think will follow suit in crypto adoption?
- Which countries' crypto regulations are as strict as China's? Is China the toughest one?
- Do you think Minecraft will soon follow Roblox's footsteps or do you think they'll always be against it?
This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. Charts, graphs and references to any digital assets are for informational and illustrative purposes only.
Finblox Blog is associated with Finblox - a next-generation crypto ecosystem where you can buy and earn amazing rewards on your digital assets.