Today, we look at the second Cream Finance hack, as well as some problems in Russian crypto mining among friends and why OpenSea needs more engineers.
Over the weekend, Bitcoin did not impress us. After weeks of wallowing below $50,000, BTC is still unable to get above, and stay above, what many call this “psychological price point” — one of many, many “psychological price points” pointed out in the hundreds of Bitcoin analyses that come out every week.
What has impressed us much more than Bitcoin’s inability to get up and stay up is the ever-increasing number of play-to-earn blockchain games coming out in the space. It doesn’t seem to matter how low-fi the graphics are, or how similarly each game markets itself as having a “Pokémon-like” card trading/battling/fighting/arena style — no one seems to be getting sick of these games.
One obvious reason is money. It doesn’t matter if a game’s graphics look worse than the original Pokémon Yellow for your Gameboy, you can take your little character and play for real money. That’s worth suffering through any amount of glitchy graphics and not-quite-sensical gameplay.
This doesn’t mean that every play-to-earn blockchain game has poor gameplay — there is a trend of gaming companies coming in with big ideas and promising the biggest, actually good blockchain game in the future. But developing a high-quality game takes time, and the crypto space moves fast, so it remains to be seen if the play-to-earn space will remain popular long enough for high-quality blockchain games to make it to the market.
And that’s enough of our musings into the crypto space for today. Now, let’s turn to the top stories of the day that actually have the potential to move these markets!
Today’s Top Crypto News Stories
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ANOTHER Cream Finance Hack 🚨
For the second time in six months, Cream Finance has fallen victim to a devastating attack. Crypto worth more than $25 million was stolen in a flash loan exploit. The protocol has confirmed that 418,311,571 AMP and 1,308 ETH are gone. No other markets were affected, but the native CREAM token has fallen by 5.5% in the past 24 hours nonetheless. Here's the latest.
A Productive Summer Vacation 😍
Most 12-year-olds spend their school holidays playing Minecraft, but Benyamin Ahmed had different ideas. He's made a whopping $400,000 after creating Weird Whales, his very own NFT collection. Benyamin's school friends don't even know about his newfound wealth yet. His "what I did over the summer" presentation is going to be interesting! Read more here.
Man Stole Friend's Crypto Mining Rigs 😱
A Russian man has been given a three-year suspended sentence after stealing his friend's crypto mining equipment. The 34-year-old snuck into the victim's garage and stole rigs worth $217,440. He later returned the equipment because he didn't understand how to use it — making the entire exercise completely pointless. What happened.
OpenSea Is Desperate for Help 😬
The crypto industry is growing at a dizzying pace, but finding talented employees is proving difficult. OpenSea's head of product, Nate Chastain, has revealed the NFT marketplace is handling 98% of all trading volumes — and is desperate to ramp up hiring. The company is even offering 1 ETH to those who make successful referrals for engineers and designers. Read the tweet.
