The bewildering rise of Pepecoin (PEPE), a meme coin introduced mere weeks ago that’s now worth more than $1 billion, is making gigantic fortunes for those undeterred by warnings that this is a fad that will end badly.
A merchant going by the name of dimethyltryptamine.eth, just three weeks ago, spent $263 to purchase billions of PEPE tokens. According to data from Blockchain research company Arkham Intelligence, that once pitiful sum has now grown to $3.8 million in gains from tokens they have previously sold, and their remaining holdings are now worth nearly $9 million.
That amounts to a profit of over 50,000 per cent.
Palm NFT Studio Introduces New Tool For 3D Art Collection
Palm NFT Studio, a provider of non-fungible token (NFT) infrastructure and ecosystem, has introduced a new tool through Epic Games’ Unreal Engine that enables creators to produce generative “game-ready” 3D assets and art collections.
The “Palm Generative Art Maker” programme offers a streamlined method for creating generating art and assets, which is rather difficult for designers who are not well-versed in coding. The tool, which is a plug-in for Unreal Engine, was released on May 4, 2023, and can be downloaded as well.
Users are given the option to create a concept with the plug-in and then import the elements into Unreal Engine 5.1 to polish and add final touches. They can then mint the assets as NFTs on the Blockchain from there.
Over the past few years, interest in generative art has increased along with the expansion of the NFT industry, with projects based on profile pictures and avatars, such CryptoPunks, thus helping to popularise the technique.
Also, Tyler Hobb’s Fidenza and other NFT art initiatives have stoked interest in the computer-based art movement.
Bitblox To Build Web 3.0 Gambling Games
To create a collection of Web 3.0 gambling games on the Solana-based Hxro Network, a distributed liquidity layer for derivatives trading and betting apps, a new Blockchain gaming studio by the name of Bitblox has been set up.
According to Grand View Research, the market for Internet gambling was valued about $63.5 billion in 2022 and is expected to increase by 11.7 per cent year between 2023 and 2030.
Bitblox Games said on May 4, 2023 that it would concentrate on creating player-to-player (P2P) games based on speed and skill, where players compete against one another rather than the “house” like a casino or bookie in traditional gambling.
