Skill Labs Levels Up Achievements

GM! Hope you enjoyed Thanksgiving.

Today's Lootbox is filled to the brim with exciting gems from the Web3 mineshaft.

• Skill Labs new achievement system

• WEMIX token nose diving

• Of course we've got the sneakies

So without further delay, let's crack this puppy open.

Skill Labs Levels Up Achievement Systems For Gamers

Skill Labs touts itself as the gateway to the world of gaming with its all-inclusive gaming platform for all GameFi fans.

In recent weeks, the team at Skill Labs has developed a real-time dashboard to help users decide whether to play a game and now they're launching a brand new feature. It's called the Achievement System.

This new system will allow users to collect their in-game achievements under one profile in traditional as well as Web3 Gaming. The system functions by minting NFTs that correlate with users' in-game achievements as "Proof-Of-Skill". The system already supports some of today's top games like Thetan Arena and Tiny World. The team is working on expanding this new system to more games soon.

Why is this useful?

Do gamers really need an all-encompassing achievement system? You bet we do! Even before Web3, it was always a pain keeping all of your game profiles and achievements across all systems and games. Completely ignoring the blockchain aspect, this is just a cool tool for gamers, add in the Proof Of Skill NFTs and I'm sold.

But seriously how would a gamer use this?

• Track progress in ALL my games (once Skill Labs expands the list a bit) in a single platform.

• Share achievements with friends, family, and the larger community. With NFT integration on the rise, these achievements might even have further social use cases down the line.

• For Developers of games too! Game builders can utilize this system to flawlessly track their user's achievements and incentivize them based on their Proof Of Skill NFT holdings.

WEMIX Token Plunges 70% After It's Delisted By Korean Exchanges

South Korea’s crypto exchanges are delisting the gaming token Wemix after concerns about the transparency of the circulating supply were raised. WEMIX is the native token of gaming company WeMade’s blockchain platform, also named Wemix.

The decision to delist is in response to alleged "false information" provided by the company in regard to statements relating to its supply.

What was the issue?

On Oct 27, DAXA (Digital Asset Exchange Alliance) issued a warning alleging that there was more WEMIX in circulation than Wemix had disclosed. Wemix had agreed to work with DAXA to alleviate these concerns. After news of the decision to delist broke on November 24th, WEMIX Communication released this statement.

We've seen this movie before with other tokens so what happened next is no surprise. The token plunged by more than 70% settling at $0.386 at the time of writing.

The Sneakies

• Chainalysis compares the fall of FTX to Mt. Gox: They concluded that FTX is a relatively smaller part of crypto than Mt. Gox was at the time it collapsed. This leads them to believe that crypto would come out of the FTX saga stronger.

• Game 7 launches a $100M grant program to accelerate Web3 game development: The grant program is set to enable the development of tools needed to make Web3 gaming better and more accessible. They plan to deploy the funds over 5 years at $20M per year.

It's a wrap for today. 

I've got to go create a Skill Labs account and start collecting my achievements.

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