[ad_1] <br><div style="background-color:transparent;background-size:20% 100%;background-repeat:repeat-x;background-image:linear-gradient(to right, rgba(0, 0, 0, 0.04) 1px, transparent 1px);background-position:0%;border-right:1px solid rgba(0, 0, 0, 0.04);position:relative;overflow:visible;font-size:1.2em;line-height:1.58;text-align:left"><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">The <a target="_blank" href="https://decrypt.co/118198/2022-not-all-bad-for-crypto-ftx-terra-ethereum-merge" class="sc-adb616fe-0 ePvUAp" rel="noopener">ongoing crypto winter</a> has been painful for your entire trade, however 2022 was notably tough for <a target="_blank" href="https://decrypt.co/resources/what-is-solana-a-scalable-decentralized-network-for-dapps" class="sc-adb616fe-0 ePvUAp" rel="noopener">Solana</a>. The <a target="_blank" href="https://decrypt.co/118516/sam-bankman-fried-ftx-latest-timeline" class="sc-adb616fe-0 ePvUAp" rel="noopener">collapse of FTX and Alameda Research</a>, which had been carefully <a target="_blank" href="https://decrypt.co/114626/solana-foundation-ftx-sbf-financial-ties" class="sc-adb616fe-0 ePvUAp" rel="noopener">linked to and financially entrenched</a> within the Solana ecosystem, accelerated a decline in a 12 months marked by <a target="_blank" href="https://decrypt.co/111021/ethereum-killer-solana-suffers-another-major-outage" class="sc-adb616fe-0 ePvUAp" rel="noopener">technical issues</a> and <a target="_blank" href="https://decrypt.co/118732/cftc-charges-mango-markets-hacker" class="sc-adb616fe-0 ePvUAp" rel="noopener">high-profile hacks</a>.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Though Solana hosts a thriving <a target="_blank" href="https://decrypt.co/resources/non-fungible-tokens-nfts-explained-guide-learn-blockchain" class="sc-adb616fe-0 ePvUAp" rel="noopener">NFT</a> ecosystem and rising gaming push, the turbulent instances and <a target="_blank" href="https://www.coingecko.com/en/coins/solana" class="sc-adb616fe-0 ePvUAp" rel="noopener">94% token price plunge</a> have pushed some creators to search for greener pastures elsewhere. Solana sport <a target="_blank" href="https://tinycolony.io/" rel="nofollow external noopener" class="sc-adb616fe-0 ePvUAp">Tiny Colony</a> is the most recent mission to chart a transfer to a different blockchain, following <a target="_blank" href="https://twitter.com/frankdegods/status/1607155074224250881?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1607155074224250881%7Ctwgr%5E0e8beda20f21894d93b036da5e25e2afc86be623%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F118150%2Fsolana-slides-another-16-and-falls-out-of-top-20" class="sc-adb616fe-0 ePvUAp" rel="noopener">a similar announcement</a> from the creator of <a target="_blank" href="https://decrypt.co/113578/solana-nft-sales-surge-y00ts-rollout" class="sc-adb616fe-0 ePvUAp" rel="noopener">DeGods and y00ts</a>.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Tiny Colony developer Tinyverse Video games introduced its plan right this moment to maneuver its still-in-development NFT sport—a blockchain-based building and administration simulator—from the Solana blockchain to <a target="_blank" href="https://decrypt.co/103184/ethereum-layer-2-immutable-x-500m-fund-nft-game-developers" class="sc-adb616fe-0 ePvUAp" rel="noopener">Ethereum</a> scaling community, <a target="_blank" href="https://www.immutable.com" rel="nofollow external noopener" class="sc-adb616fe-0 ePvUAp">Immutable X</a>.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">"Immutable has been very gaming-focused because the starting," Tinyverse co-founder and CEO Arshia Navabi advised <i>Decrypt</i>. "They've an incredible improvement staff and unbelievable know-how targeted round gaming."</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">In Tiny Colony, gamers should construct and handle underground humanoid ant colonies, and strategically farm, mine, hatch larvae, and defend their colony to outlive. Gamers earn NFTs that can be utilized in-game or traded on marketplaces. An early model of the sport was launched for testers on Solana final summer season, however the full model will now debut later this 12 months on Immutable X.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Tiny Colony is a comparatively small mission in comparison with Ethereum video games which have respectively yielded over a billion {dollars} or extra value of NFT gross sales, equivalent to <a target="_blank" href="https://decrypt.co/resources/what-is-axie-infinity-the-play-to-earn-nft-game-taking-crypto-by-storm" class="sc-adb616fe-0 ePvUAp" rel="noopener">Axie Infinity</a> and the <a target="_blank" href="https://decrypt.co/resources/what-is-yuga-labs-otherside-inside-the-bored-ape-yacht-club-metaverse" class="sc-adb616fe-0 ePvUAp" rel="noopener">Bored Ape Yacht Club's Otherside</a>.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">The mission initially launched by way of <a target="_blank" href="https://decrypt.co/96568/twitch-co-founder-solana-gaming-nft-platform-fractal-raises-35m" class="sc-adb616fe-0 ePvUAp" rel="noopener">Solana marketplace Fractal</a> and has generated greater than $3 million value of NFT gross sales to this point, in response to Tinyverse. The sport's NFTs at present begin at lower than $5 value of SOL apiece on the secondary market.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">An NFT is a blockchain token that represents a singular merchandise. In video video games, that may imply issues like in-game characters, equipment, digital land plots, and extra. Elsewhere, NFTs are used for issues like <a target="_blank" href="https://decrypt.co/resources/what-are-pfp-nft-collections-the-2d-avatars-taking-over-twitter" class="sc-adb616fe-0 ePvUAp" rel="noopener">profile pictures (PFPs)</a>, art work, sports activities and leisure collectibles, and entry passes to unique occasions and experiences.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Navabi advised <i>Decrypt</i> that Tiny Colony will let present Solana NFT holders swap for an Immutable X model of the identical asset via a course of it is calling a "burn-in mint." Extra particulars on the redemption course of will probably be shared "over the subsequent month or so" because the technical course of is finalized with assist from Immutable X builders.</p><h2 style="margin-top:2em;text-align:left;padding-bottom:16px;margin-bottom:16px;border-bottom:1px solid #dfe2e4" color="#333" class="sc-cae4df22-2 bgjFgd"><strong>Why Immutable X?</strong></h2><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Immutable is each the creator of the Immutable X community and the developer of the NFT-based card sport, <a target="_blank" href="https://decrypt.co/48379/gods-unchained-review-and-beginners-guide" class="sc-adb616fe-0 ePvUAp" rel="noopener">Gods Unchained</a>. Immutable X is a <a target="_blank" href="https://decrypt.co/resources/how-to-bridge-ethereum-layer-2" class="sc-adb616fe-0 ePvUAp" rel="noopener">layer-2 scaling solution</a> that allows quicker and cheaper transactions than Ethereum's personal mainnet. Navabi stated that Immutable's give attention to gaming and the participant expertise was a really perfect match for Tiny Colony.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Thought of by some to be an "Ethereum killer," Solana has been a distinguished different vacation spot builders for <a target="_blank" href="https://decrypt.co/resources/what-are-decentralized-applications-dapps" class="sc-adb616fe-0 ePvUAp" rel="noopener">decentralized apps (dapps)</a> and NFTs, because of low charges and the flexibility to deal with a bigger bulk of transactions per second than Ethereum's personal mainnet.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">However the buzz that Solana <a target="_blank" href="https://decrypt.co/88814/coin-of-the-year-solana-sol" class="sc-adb616fe-0 ePvUAp" rel="noopener">garnered in 2021</a> did not maintain all through 2022, with <a target="_blank" href="https://decrypt.co/111021/ethereum-killer-solana-suffers-another-major-outage" class="sc-adb616fe-0 ePvUAp" rel="noopener">network outages</a>, rising competitors, and <a target="_blank" href="https://decrypt.co/112110/magic-eden-flip-flops-on-solana-nft-royalties-making-them-optional" class="sc-adb616fe-0 ePvUAp" rel="noopener">NFT market turmoil</a> apparently serving to to gas a pointy decline within the token worth. SOL has fallen from a November 2021 peak of $260 to a present worth of round $16—a a lot steeper drop than main cryptocurrencies like <a target="_blank" href="https://decrypt.co/resources/what-is-bitcoin-four-minute-instant-guide-explainer" class="sc-adb616fe-0 ePvUAp" rel="noopener">Bitcoin</a> and Ethereum.</p><div class="relative w-full"><blockquote class="twitter-tweet mx-auto"> <p lang="en" dir="ltr">We’re lucky that we haven’t misplaced any funds within the FTX fallout, however we do have vital SOL reserves that we’ll want to carry onto for an extended timeframe whereas the worth of SOL and the market recovers.</p> <p>— Tiny Colony (@TinyColonyGame) <a target="_blank" href="https://twitter.com/TinyColonyGame/status/1593323229979889664?ref_src=twsrc%5Etfw" data-wpel-link="internal" rel="noopener">November 17, 2022</a></p></blockquote></div><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Tinyverse beforehand commented on Solana's decline in <a target="_blank" href="https://twitter.com/TinyColonyGame/status/1593323229979889664" class="sc-adb616fe-0 ePvUAp" rel="noopener">a November tweet thread</a>, writing that it whereas it did not lose funds within the FTX collapse, it has "vital SOL reserves that we’ll want to carry onto for an extended timeframe whereas the worth of SOL and the market recovers."</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">"Do not get me incorrect, Solana was an unbelievable start line for us. We bought every thing we've got right this moment due to [Solana]," Navabi advised <i>Decrypt</i>. Nevertheless, when Tinyverse started discussions with Immutable and discovered about its future plans and give attention to video games and NFTs, Navabi stated he "instantly bought hooked."</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Based in 2021, Tinyverse consists of gaming, movie, and TV veterans which have labored on tasks for Netflix, Disney, Amazon Prime, and Paramount, in addition to gaming manufacturers EA, Capcom, and PlayStation.</p><span class="" style="display:inline-block"/><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Though Ethereum's personal technical limitations make it too sluggish and costly for a lot of <a target="_blank" href="https://decrypt.co/resources/what-is-web-3" class="sc-adb616fe-0 ePvUAp" rel="noopener">Web3</a> video games, scaling networks like Immutable X and <a target="_blank" href="https://decrypt.co/resources/what-is-polygon-matic-and-why-it-matters-for-ethereum" class="sc-adb616fe-0 ePvUAp" rel="noopener">Polygon</a> have more and more been embraced by creators to allow video games that permit for user-owned property with out vital transaction charges alongside the best way.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">"We're thrilled to welcome Tiny Colony to the quickly rising Immutable X household and supply the staff with our full suite of instruments and options to make the sport as accessible, participating, and performant as attainable," Immutable VP of World Enterprise Growth Andrew Sorokovsky stated in an announcement.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Immutable X's lack of fuel charges for finishing transactions was a key purpose for the transfer, Navabi stated, calling the community user-friendly for conventional (or Web2) players who could not perceive what utilizing fuel means.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">"Sport builders and producers ought to cease anticipating Web2 players to know these components, and simply attempt to make this an excellent touchdown dwelling for them—and make our Web3 video games a really acquainted house for them,” he stated. Navabi added that he believes Immutable X's "methods, timelines, and focus are very aligned with that."</p><h2 style="margin-top:2em;text-align:left;padding-bottom:16px;margin-bottom:16px;border-bottom:1px solid #dfe2e4" color="#333" class="sc-cae4df22-2 bgjFgd"><strong>Solana exodus?</strong></h2><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Tiny Colony's pivot comes lower than a month after <a target="_blank" href="https://twitter.com/frankdegods/status/1607155074224250881?" class="sc-adb616fe-0 ePvUAp" rel="noopener">DeLabs announced</a> that two of Solana's prime PFP tasks, DeGods and y00ts, will bridge to different platforms.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Particulars on the method are nonetheless unclear, however DeGods will shift to Ethereum and y00ts will migrate to Polygon, with the latter transfer facilitated by a <a target="_blank" href="https://twitter.com/frankdegods/status/1611399534470664193" class="sc-adb616fe-0 ePvUAp" rel="noopener">$3 million grant</a> from Polygon Labs (previously Polygon Studios). Polygon Labs has reportedly tried recruiting different Solana tasks, as nicely, with president Ryan Wyatt <a target="_blank" href="https://twitter.com/Fwiz/status/1607697782625964032" class="sc-adb616fe-0 ePvUAp" rel="noopener">acknowledging in a tweet reply</a> in December that the staff has "reached out to many tasks throughout a number of chains."</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">Navabi stated that whereas Tinyverse didn't obtain direct funding for its transfer, Immutable will present a grant of IMX tokens based mostly on mission milestones hit as soon as it is dwell on Immutable X. He claimed, nonetheless, that transferring away from Solana to a brand new dwelling was by no means in regards to the cash.</p><p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body">"That wasn't our focus," he stated. "If our focus had been cash, then we might go to Polygon or these totally different blockchains that supply large greenback incentives for us to change over.”</p><div class="my-4 border-b border-decryptGridline"><p><span class="border-t-4 border-l-4 w-4 h-4 sm:border-t-[6px] sm:border-l-[6px] sm:w-6 sm:h-6 border-decryptPurple dark:border-decryptNeon absolute top-4 left-4 sm:top-6 sm:left-6"/><span class="border-t-4 border-l-4 w-4 h-4 sm:border-t-[6px] sm:border-l-[6px] sm:w-6 sm:h-6 border-decryptPurple dark:border-decryptNeon absolute rotate-180 bottom-4 right-4 sm:bottom-6 sm:right-6"/><h3 class="font-ak-bold text-xl sm:text-3xl mb-6 md:text-center">Keep on prime of crypto information, get every day updates in your inbox.</h3></p></div></div><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <br>[ad_2] <br><a href="https://news.google.com/__i/rss/rd/articles/CBMiT2h0dHBzOi8vZGVjcnlwdC5jby8xMTg5OTMvd2h5LXRpbnktbmZ0LWdhbWUtbGVhdmluZy1zb2xhbmEtZXRoZXJldW0taW1tdXRhYmxlLXjSAQA?oc=5">Source link </a>