The Web3 Titanic
Animesh Mishra ??
Product & Growth Operator | Conducting Asia's largest Design and Code Hackathon | Ex- VC | Organising Asia's Largest Deeptech Event connecting Government and Startups
Gamer’s Review
Some of the famous NFT-based games are Axie Infinity, My Neighbor Alice, The Sandbox 3D, Crypto Kitties, Sorare, and Lost Relics.
The most popular?crypto game currently is Axie Infinity, which is blockchain-based trading and battling game that allows players to collect, breed, raise, battle, and trade token-based creatures known as ‘Axies’, which are digitized as their own NFTs.
The number of daily active users in Axie Infinity has dropped?from around 2.7 million peak users in November 2021 to?1.5 million peak users on 28th March 2022.
Axie Infinity's steady decline in active play count.
Pre Game?- Before you start the game, you need to own 3 ‘Axies’. Each Axie costs about $200 (INR 15,000). To purchase these ‘Axies’, head over to the?Marketplace.
?? To be able to purchase the starting Axies, you need to add a crypto wallet like MetaMask or Ronin Wallet. Create an account on these wallets, add cryptos to this wallet and purchase the Axies. Once you have bought the Axies, head over to the?main page?and download the game.
Crypto games are definitely a new way of playing games where there is a potential to earn money?using NFTs, but it is important to understand the blockchain network as well as the game mechanics before you jump in and start buying these Axies!
These are addicting because once you get hooked on to the possibility of earning money by playing games, there is no coming back!
There have even been examples of people earning close to $2,000 in a SINGLE DAY!
Here’s a tutorial for beginners:
Crypto Taxes- How do we get started?
Can there be a better ideal situation for crypto - to be perceived as a real currency, permitting individuals to utilize their crypto resources as a type of installment or security?
The Union Budget 2022 proposed to classify cryptos as virtual digital assets (VDA). However the Indian government sounded like: Your benefit is my benefit, however, your loss isn't my loss.
This is maybe the inclination among numerous Indian crypto gains at 30% at the highest?slab, yet not permitting losses to be balanced against other pays.
There has been a surge?of Crypto games recently all around the world, with their play-to-earn?format. These games have become a source of income?for gamers as well as non-gamers. People have even started to leave their jobs and play these games full-time.
The Indian government has imposed a 30% duty on digital assets, which will be relevant to crypto as of April 1, 2022,?. The recently acquainted regulation applies to all in-application buys and rewards??focuses presented by crypto gaming applications. Likewise, the public authority has proposed demanding a 1% Tax Deducted at Source (TDS) on virtual digital assets exchanges.
Moreover, TDS would be charged on in-application buys and compensations from crypto gaming applications, with the weight of paying that assessment falling?on the gamers, bringing about lower pay for them.
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The issue is the ambiguity surrounding the levying of TDS for the in-application acquisition of gaming assets in crypto games.
For complete clearness with respect to charges in crypto gaming, a top-to-the-bottom design of the law would be required. Clients are uncertain?whether the duty will be applied each time they buy a particular resource or as a one-time charge
Funding and Investments
??London-based?Omeda Studios?has closed its second round of funding led by Haveli Investments.
??The Gaming Project, India’s first cloud gaming platform, has raised $500,000 as seed funding from lead FAAD Network along with Upsparks, BlackKite, SucSEED Indovation Fund among others. The round also saw participation from platforms like MaGEHold & Hem Angels.
??Project Twelve (P12), emerging as a premier project in the Web3 gaming space, is announcing the close of $8 million in new funding round.
??MPL is in advanced talks to raise $10-$15 million?from investors including Spartan Capital, a digital asset management firm, and Polygon, valuing the startup at about $200 - $250 million.
Tweet Wall
P2P trading in #crypto won’t save you from the 1% TDS or any other taxes. Please stop thinking otherwise.
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9 个月Here is a useful blog on cyber risk quantification (CRQ) that could be interesting to check out for any CISO or Board member : https://securityscorecard.com/blog/what-is-cyber-risk-quantification/
Negative Thinker || Ex Citykart Stores Pvt Ltd || Ex Future Group || Ex Spencer's || Ex GVK Emergency Service 108/102 || Legal Advisor || liesning With local government authorities ||Consumer Court ||Retail operation ||
2 年We can create a new world of Crypto for "The India" coz we hv huge potential in this segment, as you can see , In Dubai expo. But we need a influencers for promoting basic knowledge about #Crypto #cryptocurrency