Binance Clears Stance On Terra Classic, AC Milan FC Launches NFT Game, Shiba Eternity Game Launch Soon

There have been several developments in the crypto space over the past few days. Here’re a few key developments.
Crypto Latest News: Binance Clears Stance On Terra Classic (LUNC), AC Milan FC Launches NFT Game, Shiba Eternity Game Launch Soon
Crypto Latest News: Binance Clears Stance On Terra Classic (LUNC), AC Milan FC Launches NFT Game, Shiba Eternity Game Launch Soon

There have been several developments in the crypto world over the past few days, including the announcement of a new Web 3.0 gaming console by Zilliqa, a new non-fungible token (NFT)-based game by Italian soccer club AC Milan, and Binance’s clarification in the Luna tax burn proposal.

Binance Gives Clarity On Terra Classic’s Tax Burn Protocol

About a week ago, Binance stated in a Tweet that trading in centralised exchanges mostly takes place off-chain so the tax burn protocol that applies to on-chain activities will automatically be applied by the time Binance gets these tokens. Hence, to clear any ambiguity, Binance has published a blog post detailing how exactly this new protocol in Terra Classic will be implemented. The process is divided into three steps.

  • The first step includes Binance implementing an opt-in button for people to convey their decision (opt-in or opt-out) regarding whether they want to pay the 1.2 per cent tax for LUNC trading.
  • The second step includes Binance checking the holding percentage of those who opted in for the 1.2 per cent LUNC trading tax. If the total holdings of people who opted-in reach 25 per cent of all LUNC held on Binance, they will start charging them 1.2 per cent tax. Binance also clarified that by opting in to charge tax doesn’t mean that it will be acceptable because they must also satisfy the 25 per cent quorum clause.
  • The third and the last step is when the opt-in people’s holdings reach 50 per cent of all LUNC trading volume in Binance, the 1.2 per cent trading tax will be implemented for all users regardless of their opt-out stance. Binance said this prevents large LUNC whales who may hold large amounts, but do not actively trade to influence votes.

Shytoshi Kusama– Shiba Inu’s (SHIB) Lead Developer Shares Update About Shiba Eternity Game

Shytoshi Kusama, the current pseudonymous developer of Shiba Inu (SHIB) ecosystem, announced his plans about the development of the newly launched Shiba Eternity game. 

Kusama said on Discord that this new game will be a multiplayer collectible card game and it will be launched globally in less than a month’s time. He also mentioned that he and other developers are actively working on a variety of gaming tournaments with prizes and these events may be offline in person or virtual on the app. 

Kusuma said that the team is currently looking for additional sponsors and have already picked a venue for a major showdown, reported U.Today.

Also another update about the SHIB token burning was shared by Kusuma. He said that about 5 per cent of the profits from this game will be used for burning SHIB tokens.

Zilliqa (ZIL) Launches A Web 3.0 Gaming Console Capable of Mining Crypto Too

Zilliqa’s Web 3.0 gaming console features first party games published by Zillqa, a Web 3.0 wallet and crypto mining utility functionalities. Zilliqa said the rationale behind developing the console is to give people the opportunity to play games while also mining Zil tokens at the same time.

The Web 3.0 wallet and the gaming hub combine both crypto-based apps and games. Gamers can also earn rewards or buy and sell in the same marketplace.

“Zilliqa’s hardware console and gaming hub will allow non-crypto natives to earn money while playing fun games without the complexity of managing the crypto they earn,” said Valentin Cobelea, head of gaming technology at Zilliqa in an interview with Venturebeat.

Zilliqa is a blockchain launched in 2017 after a peer-reviewed academic research conducted at the National University of Singapore.

Italy’s AC Milan FC Forays Into Web 3.0 Gaming

Italian soccer club AC Milan in a release stated its intention of diving into the Web 3.0 world by partnering with a Solana (SOL) blockchain-based esports company MonkeyLeague. This partnership will result in the creation of a new NFT-based game and will let its soccer fans mint Rossoneri-branded wearables and other game specific events.

In January 2021, AC Milan launched the AC Milan Fan Token (ACM), which is also listed on Binance, the world’s largest cryptocurrency exchange by volume.

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