Yield Guild Games, a community of gamers in the play-to earn field, has received support from Coinbase US cryptocurrency platform. These two entities will be able to pool more resources for scholarships.
Coinbase also announced that it would soon acquire FairX, a CFTC-regulated derivatives trading platform. This deal is a significant milestone for Coinbase, which plans to offer crypto derivatives to institutional and retail investors in the United States.
Coinbase Reaffirms its Place in the Metaverse
Yield Guild Games (YGG), a decentralized autonomous organization that promotes Blockchain-based games, recently revealed that more people are looking for play-to-earn scholarships. Coinbase, a cryptocurrency giant, was welcomed to the organization as its latest partner. YGG expressed hope that the initiative would allow it to attract new players around the world.
Coinbase announced its participation in this project in a separate statement. The trading platform is a proponent for the metaverse and “excited” to support this aspect of the industry.
@coinbase x @YieldGuild
We are now a part of the #WeAreYGG sponsor-a-Scholar program, which gives new players a huge break in play to earn.
We are excited to support the gig economy in the metaverse.
Find out more
— Coinbase (@coinbase), January 12, 2022
Coinbase signed a deal last year with Adidas, a multinational German corporation. The deal saw the former join several NFT influencers in their adaptation to the metaverse. These include GMoney and Punks Comic.
The sports brand stated that “It’s now to enter a realm of limitless possibilities.”
FairX to be Acquired by Coinbase
FairX, a derivatives trading platform regulated by the Commodity Futures Trading Commission, was also announced by Coinbase. This acquisition confirms Coinbase’s determination to provide investors with the “robust, holistic trading environment they desire.”
“Through this acquisition we plan to bring regulated cryptocurrency derivatives to the market, initially through FairX’s existing partner ecosystem. ”
Coinbase stated that FairX’s infrastructure will be used to provide cryptocurrency derivatives to all of its customers in the United States. These financial products are highly sought-after by investors who want to manage risk and gain exposure in digital assets beyond existing spot markets.
Coinbase described FairX to be a “world-class group with deep expertise” in product development and market structure. The acquisition is expected to be completed in the first quarter of the year by the crypto exchange. FairX will continue to operate as normal during this time.
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