Russia’s biggest social media platform VKontakte (VK) considers introducing own cryptocurrency according to Russian media reports.

Russia’s most popular social media platform VKontakte (VK) is reportedly mulling over whether to introduce its own cryptocurrency.

On 28^th March local media outlet RNS reported that unnamed sources had revealed the plans for a VK crypto currency. Apparently they include issuing all users with a wallet and paying people with the VK token for their time and activity spent on VK.

Tokens earned would then be able to be transferred between users, used to buy things or tip content creators, or converted into fiat currency through VK’s existing cashless money transfer platform VK Pay.

Founded by Telegram co-founder Pavel Durov, Saint Petersburg-based VK is, according to Wikipedia, Russia’s most popular website, and as of August 2018 had at least 500 million accounts. Its is also popular throughout the former Soviet region, also being the most popular social networking website in Belarus and Kazakhstan.

Telegram is also said to be planning to launch its own blockchain network towards the end of this year, after raising an impressive $1.7 billion in two private token sales.

AYO.NEW says:

VK isn’t the only major social network with cryptocurrency plans. As AYO.NEWS reported a few weeks ago, Facebook is actively developing a cryptocurrency which a Barclays analyst has predicted could add up to $19 billion revenue within the first two years (read more).

With social media like VK and Facebook so integrated with people’s lives, the roll-out of their own cryptocurrencies could be the tipping point that sees cryptos go well and truly mainstream… assuming users still trust giants like Facebook enough, that is.

Animoca Brands partners with Formula 1® to develop the “F1® Delta Time” blockchain game, in a potentially major industry milestone.

Animoca Brands has partnered with Formula 1® to develop the “F1® Delta Time” blockchain game.

The developer has secured a licensing agreement with the iconic motorsport to create and publish blockchain game F1® Delta Time which will be based on non-fungible tokens (NFTs).

Featuring Formula 1 intellectual property and incorporating both collectible and racing components utilising NFTs, the first phase of the game is slated to be released on 10^th May 2019, with others following.

Talking about the news Co-Founder and Chairman of Animoca Brands, Yat Siu, said:

“Securing a partnership to make blockchain games with Formula 1 – one of the most recognised brands in sport – is a notable achievement. We will leverage Formula 1’s considerable global reach to drive product uptake and revenue growth as together we seek to increase consumer exposure to blockchain.”

Considering the incredible global reach of Formula 1®, with a TV audience in the region of 1.6 billion, 506 million fans, and viewed in more than 180 territories, this is a major milestone for blockchain-based games.

The sport also enjoys partnerships with some of the world’s most successful brands including Rolex, Pirelli, DHL, Emirates and Heineken, and has media rights deals in place with leading broadcasters including Sky, Fox Sports and ESPN – meaning being associated with it brings serious kudos.

AYO.NEWS says:

The development of blockchain-based gaming, though still in its infancy, heralds an entire new world that merges digital entertainment with real-world collecting and ownership. Recently we chatted with Sergei Labutin, Executive Director of Ether Dale, the Tallinn-based developer and publisher of unique blockchain games, including the popular fantasy RPG, Ether Quest and vaporwave combat game Glitch Goons about what the future holds (read more). It will be interesting to see how just much the Animoca F1 game fuels the blockchain game market.

Blockchain based breedable cat collectibles game CryptoKitties confirmed for Social Impact workshop at Malta AI and Blockchain Summit.

CryptoKitties, the blockchain-based virtual cat collectibles, will be participating in the Social Impact workshop at the Malta AI and Blockchain Summit this May.

If at this point you’re asking; “what the hell are CryptoKitties”, let me fill you in. So, its basically a blockchain-based cat-themed game in which people collect digital, breedable cats. It was built on the Ethereum network, and is the perfect example of digital scarcity in action – allowing people to collect and own rare digital items in much the same way as offline collectors do.

Anyone who is old enough to remember the Beanie Babies craze in the late 1990s – imagine that, but in the digital world, and with an incredible 4 billion unique cats potentially available to collect. There’s 4 billion because each ‘parent’ cat has a 256-bit genome… so their offspring has 4 billion possible variations.

It doesn’t take much effort of imagination to see there’s an incredible commercial opportunity there – tapping into the age-old desire to collect and own rare things, but with the convenience of the digital ecosphere.

Held from the 23^rd to 24^th of May, the spring edition of the Malta AI and Blockchain Summit is expected to attract a global crowd of exhibitors from the AI, quantum tech, IoT and big data fields, and will host several conference and workshops.

AYO.NEWS says:

The idea of true digital ownership (i.e. where you can even move and trade your assets between platforms), has the potential to truly revolutionise not just the gaming and collectible worlds, but the entire global economy. Recently we caught up with Sergei Labutin, Executive Director of Ether Dale, the Tallinn-based developer and publisher of unique blockchain games, to discuss just this – you can read the full interview here.