Blockchain Ventures Invests in Gaming Platform
By Mark Lemon – Cryptocurrency Specialist
Venture capital fund and subsidiary of Blockchain Ventures, has taken a stake in gaming platform Enjin. Could we see revitalised investment encourage users to buy cryptocurrency on this chain?
On Tuesday, the exchange provider stated that this investment makes it the first-ever equity in the gaming industry in which tokenised in-game items can be ported across several game titles based on Ethereum. This increases the interoperability when buying crypto as it has greater versatility.
However, Blockchain Ventures hasn't disclosed the exact amount that it has invested.
Enjin is a Singapore-based company that has constructed several apps to help support its ecosystems, such as a marketplace for collectibles, a blockchain wallet and a game-development platform where third-party game developers can introduce blockchain in their projects.
Enjincoin, which is the gaming company's token, soared over 70% in March this year as user looked to buy crypto native to the chain. That was when news circulated that the Enjin wallet was introduced on the Samsung Galaxy S10 blockchain phone's offerings. This could still result in great exposure and encourage more to buy cryptocurrency as a major technology company is integrating it.
When explaining why they're now backing Enjin, Blockchain Ventures said:
“The Enjin token economic model, where Enjin Coin (ENJ) is locked within virtual in-game items and non-fungible tokens (NFTs) is something we hadn’t seen before.” This type of model can both facilitate value recovery and price discovery, which have been an issue for NFT’s in the past.
For many years, blockchain has largely been a top Bitcoin wallet as well as a blockchain provider but has recently been looking to new avenues. Back in July, for instance, the company introduced a new crypto exchange platform to buy and sell Bitcoin as well as other crypto named ‘The PIT’ and was said to be raising a $50 million crypto-focused VC fund just last month.
You can already buy and sell Bitcoin UK over on our platform, the UK most Trusted Bitcoin broker, so ensure you take a look!
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards