Tag: Blockchain Technology

Toxic NFT Gaming Projects: Avoid These Signs at All Costs

Toxic NFT gaming projects
Here’s how to spot toxic NFT gaming projects

Published by FrankNez Team.

Games that use blockchain technology have been successfully evolving and enticing potential players in recent years, and the decentralized games industry — commonly referred to as GameFi — has risen to prominence since 2013.

However, in 2021, the importance of decentralized games increased alongside the development of NFTs.

Many firms have swiftly evolved as NFTs change the world with their inventive innovation.

The gaming industry has seen the most significant advancement. NFT gaming is finally catching on with a huge population of gamers and crypto financial investors.

Regardless, the GameFi company has its problems.

While the value pattern of Bitcoin can help GameFi projects progress, there isn’t an instant association.

Notwithstanding the downturn market, the worth of several GameFi tokens is rising due to their NFT aspect.

Investors want to profit from the sales of in-game characters and assets rather than designed to improve gamification elements.

When considering a project, assess the promoting and mechanical aspects: how well the task is developed and how the project’s currency is presented to its consumers.

However, one should be vigilant of these token initiatives that make empty assurances as scammers thrive in the industry.

The Nature of NFT Gaming

NFT gaming involves combining conventional gaming features such as scoring points, contests, and regulations of gameplay with blockchain technology.

This fusion has resulted in the creation of GameFi, a platform where users can exchange and barter game materials for cash incentives.

NFT gaming functions in a rather straightforward method.

The resources used in the virtual space are called NFTs, and they have significance among gamers since they have the ability to be auctioned.

In Axie Infinity, for example, each species is represented as an NFT.

As a trade-off for crypto benefits, gamers might fight with their NFTs.

However, NFT gaming, just like any other investment, comes with risk from scammers.

Toxic NFT Gamification

Many NFT deceptive games have a broad range and are meticulously planned.

Most financial investors in such projects are amateurs, and con artists use ads and picturesque settings to mislead and entice novice consumers.

As a result, consumers should remain sensitive to a few specifics. To counter check, gamers should also do their research on the project’s background.

They may take advantage of crypto platforms that specialise in specific coins and tokens.

Upon registration, gaming investors will then be linked to credible brokers for assistance.

With this broker connection, consumers are assured to have a safe and secured crypto journey since markets are also monitored by these experts.

They also suggest websites where consumers can trade legitimately without losing funds to fake and scam gaming projects.

Below are the things you should put in mind to easily spot a scam.

The Profitability of the Project

Each project is designed to generate revenue.

Therefore, it’s essential to know where the incremental income will come from.

A person should not engage unless they grasp the concept of a project’s benefit.

There are a lot of games that seem to be too good to be true.

They may entice the consumers with promises of one-time payment with unlimited access to the game’s top features.

Assessments from Reliable Sources

When working in a business, advertisements should never be relied upon.

It is preferable to research reviews about them on expert portals.

The blockchain local forum works fast for the development of new projects.

Any idea will be evaluated from all angles within a few hours.

Nonetheless, con artists have discovered a technique to con consumers.

A few organizations promote projects by creating positive assessments about the organization on third-party websites.

Scammers pre-register a large number of entries on discourse with the intent to deceive and misdirect.

The Developers

The project’s designers usually have a lot of expertise.

Their pasts can be found online, along with a record of how fruitful their previous experiences were.

Nonetheless, some risky activities are sent out by unknown groups in GameFi.

Because they hide behind aliases or fake handles, minimal data about them may be uncovered.

Smart contract

Crypto and NFT scams

The simplest method is using block scanners to check the project’s smart contracts.

The block scanners will get you through information on when the project was established, released to the public, the number of consumers it has, and the number of tokens distributed.

Organisation Advertisement

A multi-level marketing (MLM) framework is used in a number of GameFi projects.

This is identical to an excellent organization marketing, which isn’t a fraud itself.

Countless outstanding projects have used MLM to drive sales, but if the project has no other revenue stream than advertising, it is a dirty trick.

Aside from MLM, there should be investment services.

Legitimate projects cannot make exaggerated claims to their consumers.

Conclusion

Despite the fact that the NFT gaming industry is obviously inflated, NFTs as an investment still can’t seem to prosper.

Instead of treating NFTs as simple things you get after unending periods of grinding, they should be explored more thoroughly.

Cynics’ negative perception regarding NFT games was developed against the context of unstable trading resources with little practical application.

Genuine value can and should exist in NFTs.

Major core competencies for genuine resources and administrations are essential for the NFT industry to flourish.

Blockchain gaming will be huge, but we’re still years from global acceptance.

Individuals spend roughly $20 billion every year on game items such as accessories, weaponry, and items, making classic gaming a $60 billion market.

When the first blockchain AAA game integrates a good gameplay experience with crypto assets, we’ll see regular players and idealists shift their focus to blockchain games.

In this approach, blockchain games have a bright future.

There will very certainly be a few cheats, although seeing them in NFTs is more likely.

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Related: What Are NFTs and How Will They Change the World?

Blockchain Development: 7 Powerful Attributes That Separate an Excellent Blockchain Developer from A Quack

Blockchain development
These blockchain development attributes make an excellent blockchain developer

Published by FrankNez Team.

Are you looking for a blockchain development firm?

If so, it can be challenging to pick the right cryptocurrency development company.

With many companies in the market, you can be in a dilemma about choosing the right one.

Furthermore, only a few blockchain development agencies have the skills and resources to deliver high-quality crypto solutions.

So, the greatest challenge is how to cut through the noise and pick the right crypto developer.

And you can only overcome the stress of choosing the correct crypto coin development firm if you equip yourself with information.

The saying ‘knowledge is power’ succinctly summarizes why information is essential.

And this is especially when looking for the best cryptocurrency development company.

Here we offer tips on the attributes you need to consider when choosing a blockchain development agency.

Why is blockchain development critical?

Blockchain Development
Blockchain Development

There are multiple perks a business enjoys from embracing blockchain technology.

Here are the key benefits of this technology:

  • Improved security: your transaction information is sensitive and needs enhanced protection. Therefore, having an immutable record can boost the security of your data. Blockchain development is helpful since records on the decentralized ledger cannot be altered. A cryptocurrency software development company can help you create a highly secure blockchain solution.
  • Transparency: records on blockchain technology are more transparent, and the concerned parties can access all their transactions. Furthermore, settlements happen in multiple locations at the same time. Thus, altering the transactions without interfering with the whole system is impossible.
  • Easy to trail the history of an asset: The distributed ledger records an asset’s ownership history at each phase of its journey. Blockchain provides proof in fields where customers are concerned about the safety and human rights matters surrounding a product.
  • Increased speed: standard methods which handle transactions are slow and vulnerable to human error. Also, such transactions require intermediaries. However, transactions through blockchain technology are prompt and remove third parties from a settlement. Furthermore, there is no need for paperwork as all the recordings happen on the distributed ledger.

Qualities of the best blockchain development agency

blockchain development company
Blockchain development company

Now that you understand the importance of blockchain development let’s focus on how to find a crypto token development professional.

Here are the skills to consider:

1. Blockchain architecture

A Cryptocurrency development company should demonstrate an in-depth knowledge of the distributed ledger.

Thus, the developer should know how the decentralized ledger functions and its architectural design.

Ideas like consensus mechanisms, decentralized ledger, and cryptography should be at the developer’s fingertips.

2. Digital agreement creation

Smart contracts are central in crypto coin development.

These days, each blockchain races to combine digital agreement functionality on its network.

The agreement makes it easy to apply business logic on the blockchain spine.

So, before choosing a crypto developer, ensure that they understand how to develop smart contracts.

3. Deep understanding of data structures

Data structures are key to blockchain development.

Therefore, developers must understand the various data structures in developing distributed data.

Remember, the entire blockchain structure, including blocks, comprises data structures.

For example, each block is made up of IMB.

So, before hiring a cryptocurrency wallet development company, ensure that it understands the types of data structures and how to use them.

Understanding data structure enables a developer to grasp various complex blockchains and use them to deliver different solutions.

4. Web development knowledge

A cryptocurrency software development company must understand how to create web applications.

They must possess skills in app design, creation, and deployment.

The best developers should create dApps that are easy to use for all individuals, regardless of their blockchain knowledge.

5. Understanding the cryptography

Cryptography is a way of creating approaches and protocols that prevent third parties from accessing confidential information.

You must have a token storage app when you want to make settlements in the distributed ledger.

A cryptocurrency wallet development company can help you develop storage software.

Also, it would help if you had a key to the wallet you created.

The key is proof that the wallet is yours.

Furthermore, secure settlements on blockchain happen via encryption and decryption technologies.

And this occurs thanks to both public and private keys.

From the preceding, it’s apparent that cryptography is critical for the security of the decentralized ledger.

So, your chosen company must possess more profound knowledge in this field.

6. Interoperability skill

Interoperability is the ability to see and gather data across multiple blockchain networks.

The concept of interoperability revolves around whether the receiver of information from another network can understand it and provide relevant feedback.

A fundamental technique to attain interoperability is making information sharing easy.

And this is achievable through the use of application programming interfaces (APIs).

These technologies are created to allow data to be exchanged with each other.

So, ensure that the Blockchain development firm you choose understands the ins and outs of the idea of interoperability.

7. Know standards and ecosystems

The best cryptocurrency development company understands blockchain technology’s principles and best practices.

For example, such a company must understand the consensus mechanism and cryptography concept.

Conclusion

If you’re looking for a Blockchain development agency, it’s essential to understand the best qualities of such a developer.

Here, we’ve delved into the attributes you should evaluate when choosing a Blockchain development firm.

Some of the primary qualities to consider include an understanding of smart contracts, blockchain architecture, and cryptography.

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What Are NFTs And How Will They Change The World?

What are NFTS - NFTS explained
What Are NFTs? NFTs explained

If you haven’t heard of NFTs yet, you will.

This technology is a little mind boggling in the sense that it’s so simple yet revolutionary.

NFTs are going to change the way we transmit data and connect with one another.

The NFT community is growing now quicker than ever.

franknez.com NFT

Welcome to Franknez.com – today I want to discuss what an NFT is and why this technology is growing so quickly.

Lets get started!

What Are NFTs?

NFTs, also known as non-fungible tokens, are a unit of data stored in blockchain technology.

This data is usually stored in a piece of artwork containing exclusive access and prizes for holders.

If you’re familiar with Gary Vaynerchuck, his startup VeeFriends is actually a collection of his personal NFTs.

Gary has built an NFT community where buyers gain exclusive access to VeeCon, a multi-day conference focused on business, marketing, creativity, entrepreneurship, and a lot more.

What Are NFTs Used For?

NFTs are tokens that may grant access to exclusive content, future products, prizes, or events.

Each NFT, depending on how the seller uses it, can unlock different levels of membership access. This is why NFTs are usually so expensive.

How Are NFTs Going To Change The World?

NFTs are cutting out the middle-man.

You can now sell NFTs directly without distributing tickets to your audience or community.

Business owners and entrepreneurs will be the ones to take advantage of this blockchain technology.

NFTs are also going to allow content creators to connect with the community and sell tokens for exclusive content and build a one of a kind art from that specific content creator.

These artworks are designed so that you cannot copy or duplicate them. They were originally created to protect or copyright artists’ work.

This means only one person could own the original, or a few people could own part of a scarce collection from that artist or content creator.

NFTs are changing our world by how we communicate with one another and transmit information.

For consumers, it can be a great way to keep something very personal and special from your favorite content creators.

How Do You Buy NFTs?

Because NFTs are Ethereum-based tokens, most marketplaces only accept ETH as a form of payment.

And if you have never purchased crypto before, check out this article on how to open your account through a crypto exchange.

Here you’ll be able to purchase Bitcoin, Ethereum, ADA, Doge, and other cryptocurrencies.

OpenSea is the world’s first and largest NFT marketplace.

How to buy NFTs
How To Buy NFTs

Anyone can create and buy NFTs here, even if you’re not a content creator or have any knowledge in blockchain tech.

Can NFTs Go Up In Value?

If you’re a collector, then you’re more than likely building a portfolio that may go up in value over the course of a few months to a few years.

NFTs certainly have the potential to go up in value depending on who the creator is.

You just never know how far this certain content creator will go or who they will impact society one day.

Buying an NFT from their younger selves today could prove to be a rare piece of art in the future.

Related: CEO announces second AMC NFT for all shareholders

Will NFTs Become Mainstream?

My personal take is they will.

The NFT community is growing every day and as more content creators find ways to provide more value to their communities, NFTs will continue to be a source of exclusivity and connection.

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Read: How to invest in Bitcoin cryptocurrency for beginners


CEO Announces Second AMC NFT For All Shareholders

Second AMC NFT
Adam Aron Announces a second NFT for shareholders

AMC Entertainment just released their very first NFT for Spider-Man No Way Home.

The first 86,000 online buyers were able to claim this Spider-Man NFT.

This influx of online movie ticket buyers sparked the idea of a second NFT.

This time, however, will be for all shareholders.

Here’s how you can get yours.

franknez.com

Welcome to Franknez.com – if you missed the Spider-Man NFT like I did, great news is there’s another NFT coming.

Let’s get started!

Community, many of us have been holding AMC Entertainment stock all year.

It’s incredible to think at some point of this journey we would all be eligible for receiving an AMC NFT.

And although this is AMC’s second NFT, this will be the very first ever AMC shareholder NFT, not pertaining to a movie title.

This NFT is gold.

It will be a symbol of this historic time where the apes saved AMC.

Adam Aron Second NFT Announcement

Adam Aron took it to Twitter to announce the coming of this second AMC NFT.

The CEO stated, “Given AMC’s Spider-Man NFT success, our first ever NFT, I am thrilled to announce our second ever NFT!”

Adam Aron shared what the NFT looks like, and it looks pretty awesome if you ask me.

I love the fact that it looks like a medal and that it has a space background.

Do you like how this second AMC NFT looks?

Leave a comment below.

How Do You Get the Second AMC NFT?

AMC NFT investor connect
Investor Connect – AMC NFT NEWS

You can’t get this second AMC NFT unless you’re a shareholder.

If you’re not invested in the stock market you can read this step-by-step guide.

However, most of you are.

Create a profile on the AMC website for AMC Investor Connect.

Once you’ve created your profile, checkmark the setting confirming you’re an AMC shareholder.

AMC NFT for shareholders
AMC NFT for shareholders – AMC NFT News

Those who enroll by December 31st, 2021 will get this NFT for free.

The NFT will be distributed by the Worldwide Asset Exchange (WAX).

WAX is an energy-efficient, ultra-low carbon footprint blockchain and the first certified carbon neutral, meaning it’s eco-friendly.

WAX is also the world’s leading blockchain, processing 15 million transactions daily.

You’ll receive an email with the instructions to claim your NFT once they have begun to distribute them.

Can I Trade This AMC NFT?

This shareholder NFT will be tradable or sellable.

And if chosen to trade, AMC will be compensated a royalty.

Very, very smart on AMC’s part.

Would I trade this NFT?

Not a chance, it’s a stamp in history.

I imagine the value of this second NFT will soar in the future.

Especially after MOASS.

Don’t Bet Against AMC Entertainment

AMC Entertainment News

AMC is the largest movie exhibition company in the United States and in Europe with approximately 950 theatres and 10,500 screens across the globe.

The company has shifted to a more innovative business model and has attracted a diverse shareholder base worldwide.

AMC has introduced online streaming, the acceptance of cryptocurrencies, and now NFTs.

This is only the beginning of a new era for the century old movie theatre chain.

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