Back in September, we covered a tragic spacecraft crash on an alien planet. Our protagonist in that story was left to his own devices to survive or perish. With a ferociously loyal community following and exciting developments just around the corner, it’s time to check in on our interstellar adventurer.
Hot New Opportunity on Illuvium
Central African Republic Makes BTC Legal Tender
A Small Bump in the MetaRoad
⏰ Top Headlines
👽 License To Illuvium
Illuvium is an open-world RPG where players collect Pokémon-like creatures called Illuvials. Serving in contrast to this world filled with collectable creatures is the arena, where players bring their teams of Illuvials to wage combat against other players in the fight for Eth.
Data shows that even with hiccups in the overall cryptocurrency market, ILV has continued to be accrued and held by investors throughout its lifespan.
lluvium has two major milestones slated for launch this quarter. Both the launch of the public beta and Illuvium: Zero have been piquing interests for months now.
Illuvium: Zero is a mobile mini-game designed to interact with Illuvium. This base-building game will be staged on pieces of land and focuses on creating industrial complexes to produce resources.
Both free and paid pieces of land in the form of NFTs will be available for ownership in Zero. Only those with land NFTs will be able to take part in the earning side of the economy.
In total, there will be 100,000 plots of paid land available in total, with the first land sale offering 20k of them for sale in a Dutch auction format.
Illuvium’s current roadmap lists the game’s open beta with a launch date of this quarter and the Autobattler Private Beta 1 phase is still accepting registrations on Illuvium’s website.
Market Meditations reached out to Illuvium for comment over Discord:
“We’re still early in our journey, but so far the feedback from beta testers has been positive. We’re looking forward to delivering more game-changing products in 22.”
– Kieran Warwick, Illuvium co-founder told Market Meditations
Illuvium seems to have the gravitational pull of a black hole, drawing investors in by the thousands.
Staking Illuvium comes in many forms. Opportunities include variable lock-up terms, ILV/ETH liquidity farms via Sushiswap and single-stake options directly on Illuvium’s site.
Rewards can be claimed either in sILV, used in-game for reviving Illuvials, travel, etc, or ILV which carries governance rights and opens up liquidity mining opportunities.
Yield Farming landed on Illuvium in May of last year and quickly became popular amongst investors.
Earlier this year, Illuvium overhauled its staking platform and introduced Staking v2. This improvement extended functionality, included streamlines and bug fixes, raised gas efficiency and revamped the user interface.
The sky, and beyond, is the limit for Illuvium’s future, but only time will tell if it will go where no one has gone before.
Interested in Illuvium live streams? Check out the game’s development in real-time. Eager to suit up and get in on the alien action? Arm yourself with information all things Illuvium at The Infoluvial.
✌️ Central African Republic Makes BTC Legal Tender
Since El Salvador made bitcoin legal tender in June of last year, there have been numerous countries in talks about following thereafter.
There has been pushback and a lot of criticism toward El Salvador from its citizens. Additionally, the price of bitcoin is declining, yet the Central African Republic has just made it the legal tender.
On Wednesday, the Central African Republic (CAR) became the second country to adopt bitcoin as legal tender.
The president’s chief of staff (of CAR) said that “the adoption of bitcoin as official money represents a decisive step toward opening up new opportunities for our country.”
This decision comes the day after the country revealed its plan for the legal framework around cryptocurrencies. (Click here for more information)
Finance minister Herve Ndoba says, “The population is living in this fragile situation every day, so we have to bring them on the table so that we renew our social contract with them.”
This sounds great in theory, but we should remember that the CAR is one of the poorest countries in the world.
While bitcoin may help with converting francs into dollars, we should note that as of 2019, just 4% of people in CAR had access to the internet (according to the WorldData website).
Only time will tell how this move will pan out. What we do know is that this is just another step into mass adoption.
🚧 A Small Bump in the MetaRoad
In the last twelve months, we have seen many household brands welcome blockchain technology with open arms. The most notable and ambitious was Facebook's transition to Meta in October 2021.
Reality Labs focuses on virtual reality (VR) and augmented reality (AR) products and had reported total losses of more than $10 billion in 2021 with at least $4 billion coming from employee costs, research & development and costs of items sold.
Revenue for Reality Labs has increased from $534 million in Q1 2021 to $695 million in Q1 2022, an increase of approximately 30.15%.
Zuckerberg stated during the earnings call that the company plans to use revenue from its non-extended reality (XR) businesses to fund the aggressive spending which currently costs around $2-$3 billion per quarter.
Zuckerberg has made it clear to investors that he does not expect the firm's metaverse or XR investments to flourish until the 2030s. Meta (FB) stock is down almost 50% since the start of 2021.
Fellow tech giant Alphabet (Google) also missed 2022 Q1 earnings estimates resulting in the company's shares falling more than 5%.
Weak earnings from Meta, Alphabet and others are feeding into the weak risk-off macro climate we are currently experiencing.
Due to uncertainty in markets, investors would prefer to sell risky assets in favour of less risky assets.
✅ Top Tip: As an investor in financial markets it is a good idea to keep an eye on yearly and quarterly earnings reports of large companies. This is because they often serve as an indicator of the health of the overall economy.
Meta posted its Q1 2022 earnings on Wednesday, with its Metaverse-focused Reality Labs division posting increased losses. - Cointelegraph
BREAKING: Russia’s Central Bank to allow stock exchanges to trade crypto – Blockworks
Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.
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