Starknet Foundation Launches Gaming Committee with $125 Million Budget

The Starknet Foundation, the driving force behind the Ethereum layer-2 blockchain Starknet, has announced the formation of a Gaming Committee dedicated to enhancing the gaming ecosystem on the network. To support this initiative, the foundation has allocated $125.5 million worth of tokens.

The primary objective of the Gaming Committee is to analyze, strategize, and recommend programs that will expand Starknet’s gaming ecosystem. Specifically, 50 million Starknet (STRK) tokens have been set aside to fund the proposals generated by the committee. The success of the committee will be gauged based on key metrics such as daily active users, retention rates, and revenue.

The committee consists of six members, including Henri Lieutaud, Starknet’s developer relations head; Chris Lexmond, the founder of Unstoppable Games; and Gabin Marignier, a co-founder of Web3-based productivity app Focus Tree. Other members include Oli Feuler, a Starknet ecosystem developer from Starknet development firm StarkWare; Tarrence van As, co-founder of Starknet-based “gaming console” Cartridge; and the pseudonymous creator of Starknet-based game Realms World known as “LordOfAFew” or “LOAF.”

NFT Prices Decline Amid Rising ETH Price

Despite Ether (ETH) reaching two-year highs, the prices of the top nonfungible tokens (NFTs) experienced a decline on March 12. The floor prices, denominated in ETH, for seven out of the top 10 traded collections on NFT marketplace Blur have decreased in the last 24 hours. This trend persisted even as ETH’s price rose by approximately 5% to over $4,000 for the first time since late 2021.

Yuga Labs’ Bored Ape and Mutant Ape Yacht Club collections saw a 13% and 14% decrease, respectively, in their floor prices on the day. Similarly, Azuki and DeGods experienced a decline of nearly 9% and 10%, respectively. The downward trend continued over a seven-day period, with DeGods witnessing a more than 40% drop and the Mutant Ape Yacht Club down over 30%.

CryptoSlam! sales volume data revealed a nearly 22% decrease in a week, with both the number of NFT buyers and sellers declining by around 75%.

Kevin Rose Sells $1.3 Million Worth of NFTs

Kevin Rose, the co-creator of the Moonbirds NFT collection now owned by Yuga Labs, recently sold over $1.3 million worth of NFTs. Rose attributed this move to his belief that “crypto will outperform” NFTs. He clarified that he is diversifying his investments and still holds over 100 NFTs.

In a now-deleted post, Rose mentioned that he has been pruning his NFT collection as he anticipates that mass adoption is still far off, and traditional cryptocurrencies will yield better returns.

Nissan Digitizes Old Cars for Metaverse, Bitcoin Halving Impact on NFTs

Automaker Nissan has introduced a unique initiative by digitizing some of its old cars for the metaverse to promote traffic safety awareness. The company has incorporated minigames on a driver’s field-of-view and steering wheel spin to engage users.

Moreover, the upcoming Bitcoin halving event, where mining rewards are halved, could potentially trigger a surge in NFT prices. The increased interest in Bitcoin (BTC) might spill over to the NFT market, driving up prices.

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