Connect with us

CD Projekt Red Suffers Consequences Following Disastrous Cyberpunk 2077 Launch

CD Projekt Red (CDPR) has taken a financial hit this year partially due to Cyberpunk 2077’s poor reception and continual development post-launch.

Avatar

Published

on


CD Projekt Red has taken a financial hit this year partially due to Cyberpunk 2077's poor reception and continual development post-launch.
CD Projekt Red has taken a financial hit this year partially due to Cyberpunk 2077’s poor reception and continual development post-launch. | CD Projekt Red

CD Projekt Red (CDPR) has taken a financial hit this year partially due to Cyberpunk 2077‘s poor reception and continual development post-launch.

The company reported a 65% profit reduction in its first quarter (Q1), missing market estimates—earning only $8.84 million at the start of its 2021 fiscal year. However, according to a recent earnings presentation published at the end of May, CDPR did note a sizable profit margin of 47%. Its dividend total came to around $138 million USD with each share amounting to just over a dollar.

According to Piotr Nielubowicz, CDPR CFO, problems arose due to the massive issues gamers found with Cyberpunk 2077 immediately after its launch. Most of the company’s resources were reallocated to fixing the problems with their brand new title instead of directed to other ventures.

“Lower than usual net profitability is mainly due to continuing depreciation of Cyberpunk 2077 development expenditures, work on updating the game, and R&D activities related to future projects,” Nielubowicz explained in a statement meant to summarize Q1.

Adam Kiciński, joint-CEO of the CDP Group, seemed to back up the claim. According to him, “a large part of the team” is still working on the game. “Nearly half,” he specified, are devoted to perfecting the initial software and adapting it to next-generation consoles.

He did reaffirm the studio’s commitment to making sure Cyberpunk 2077 will “live up to what we promised our gamers in January”—which is good news for fans who have grown to love the game despite its unfortunate bugs.

“We are convinced that we can bring the game to such a state that we can be proud of it and therefore successfully sell it for years to come,” he said.

Fortunately, CDPR is still chugging along with new projects despite its current roots in Night City. The company still plans on releasing its next-generation versions of The Witcher 3: Wild Hunt and its mobile augmented-reality adaptation The Witcher: Monster Slayer.

Despite setbacks, CDPR appears to be back on the rails and eager to make good on the promises made to its fans. We can’t wait to see what this company has in store heading into the second half of 2021.

Source: https://www.dbltap.com/posts/cd-projekt-red-suffers-consequences-following-disastrous-cyberpunk-2077-launch-01f74dbr1khn?utm_source=RSS

Uncategorized

El Salvador to airdrop $30 in Bitcoin to every adult citizen

Avatar

Published

on

By

The president of El Salvador  has announced the government will airdrop $30 worth of Bitcon (BTC) to every adult citizen of the country.

The announcement was welcomed by Bitcoiners, with influencers speculating El Salvador’s government wil need to purchase the required BTC it intends to distribute adding more than $100 million in buying pressure on markets.

Quickly googled estimates of the adult population of El Salvador varied, with onchain analyst Willy Woo tweeting that Bitcoin’s global user base will grow by 2.5% thanks to the influx of 4.5 million Salvadorians.

Others placed the Salvadoran adult population as high as 6.5 million (which is actually the total population), with Yahoo Finance anchor Zack Guzman using the figure for some rough back of the envelope calculations suggesting that $195 million worth of Bitcoin will be airdropped across the country.

Exact figures are hard to find but Statista shows that in 2019 the population aged 15 and above was 4.72M.

However, crypto Twitter’s euphoria may be be slightly premature, as local publication Prensa Latina notes El Salvador’s citizens will only receive the free Bitcoin after downloading the government-issued cryptocurrency wallet application.

The news was announced during a June 25 press conference, with President Bukele stating the government’s “wallet app will even work anywhere with a cell connection, and you won’t have to have a cell plan for the app.”

President Bukele also stated that the country’s much-celebrated Bitcoin law recognizing BTC as legal currency nationwide will come into effect on September 7.

Related: Opposition poses constitutional challenge to El Salvador’s Bitcoin law

El Salvador’s Bitcoin law was passed roughly two weeks ago. While the move has been praised by the global crypto community, the legislation has faced opposition from a minority political party and the World Bank.

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cointelegraph.com/news/el-salvador-to-airdrop-30-in-bitcoin-to-every-adult-citizen

Continue Reading

Blockchain

Ethereum Testnet Burns 88K ETH in Preparation for EIP-1559

Republished by Plato

Published

on

Ethereum’s London hard fork launched on the Ropsten testnet on June 24 in preparation for the mainnet rollout in July.

The upgrade will usher in the implementation of the highly anticipated EIP-1559 modification that will adjust the Ethereum transaction fee calculation mechanism.

The next phase in the London hard fork rollout is deployment on the Goerli testnet which is scheduled for June 30. Following that, it will be launched on the Rinkeby testnet on July 7 and then mainnet later in the month.

Watch The Burn

Part of the EIP-1559 mechanism, aside from changing the fee auction structure, is to burn the “base fee” which will make the Ethereum economy deflationary over time.

A website called Watch The Burn has been set up to see this in action. At the time of press, 88,483 ETH had been burned on the testnet. This is equivalent to around $177 million at current prices.


ADVERTISEMENT

Ethereum software solutions firm ConsenSys estimates that the annual supply change will be minus 1.6 million ETH. At current prices, this equates to the burning of $3.2 billion in ETH which will reduce the annual supply rate by 1.4%.

The deflationary properties of the network will be further compounded when proof-of-stake launches on mainnet for ETH 2.0 in 2022 some time and the asset is no longer mined.

In February, Predictions Global founder Ryan Berckmans detailed how, in his opinion, Ethereum prices could surge to five figures through these deflationary mechanisms. He argued that this effectively gives ETH back to holders and not miners as the asset increases in scarcity through fee burns.

Unfortunately, hopes of major gas savings from the upgrade have been dashed. ConsenSys confirmed that it was not the intent of the EIP, adding:

“As a side effect of a more predictable base fee, EIP-1559 may lead to some reduction in gas prices if we assume that fee predictability means users will overpay for gas less frequently.”

Ethereum Prices Lackluster

Ethereum prices had regained the psychological $2,000 level at the time of press. The asset has gained 4.2% on the day but remains in a downtrend.

CoinGecko has reported a 20% decline in the price of ETH over the past fortnight. The world’s number two crypto asset is currently 54% down from its all-time high of $4,350 on May 12.

So there may be a bit longer to wait before these properties of scarcity and demand are reflected in its price action.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://cryptopotato.com/ethereum-testnet-burns-88k-eth-in-preparation-for-eip-1559/

Continue Reading

Blockchain

Leonicorn Swap to launch a viral campaign

Republished by Plato

Published

on

The Leonicorn Swap platform has many features such as NFT, IDO, and Lottery, making it the most advanced AMM platform for customers. It is the best marketplace that offers all users trading opportunities with liquidity for their market projects. 

The best part of the platform is the ease of buying and selling NFT and raising other funds for all personalized projects, including IDO or IFO. It is decentralized with a natural network to provide advanced DeFi tools and products. 

The success of the platform, like any other blockchain startup, depends on its community. The community must be active, engaged in a proper manner, and passionate about all these features provided. The products and services offered by the crypto projects should offer the community an interceptive platform to trade and sell.

Viral campaigns are part of the success of making any platform surge high in the market.  Notably, the Lonicorn community has not disappointed. The community has massively taken up the different challenges with some getting the opportunity to win amazing prizes.

Leonicorn Swap on Twitter explains:

“More than 20+ #Twitter influencers joined together to promote our $20,000 worth of #giveaways campaign. We help the community aside from growing our project. Join our tg: t.me/leonicornswap Join our public sale whitelist: leonicornswap.com #BinanceSmartChainpic.twitter.com/k2AVzcYqQH”

Viral Campaign with Gamified Contests

Leonicorn Swap is planning to organize a prize giveaway in their forthcoming public sale. The campaign awards attractive prizes with performance in the contests the community participates in. The prize is appealing in several ways. It offers a huge opportunity to provide financial service to projects and fits customers’ demands. 

The latest cash prize  was given nearly 24 hours ago and entailed: 

“$200 giveaway to 1 random user. Follow us and Retweet our Pin. And Join our TG: https://t.me/leonicornswap also Tag three friends in Comment. It will end in 24 hrs. RocketFire #LEONICORNARMY #BinanceSmartChain #BSC”

Other successful contests included quizzes, treasure hunts, and answers to clues that require revisiting existing content. It encourages the familiarity of the users with the projects on the platform. Furthermore, the contests are an excellent way to recruit more participants for a higher winning chance. The referral contests also offer a massive boost to the number of users. 

Community Challenges at the Public Sale 

The public sale starts from June 25 to June 30. With an allocation of a maximum of $3000 and a minimum of $50, it is easy to conduct community challenges for viral campaigns. The already existing and active community needs to have other exciting offers and optimism to increase their interests. 

The challenges go in handy with both games and quizzes, and in the current market era, meme challenges make a considerable impact. The DeFi space is awash with memes and technology that Leonicorn is interested in making their viral campaigns go overboard. 

A meme camping involves an invitation to community members to create different ideas and humorously share them. The highest shared and winning memes get prizes. 

The invite from Leonicorn Swap on Twitter states:

“This weekend, we will launch a viral campaign with the #LEONICORNARMY hashtag. Thanks to all who already joined our public sale whitelist. Let’s make it viral together. #BSC #BinanceSmartChain #LEONICORNARMY.”

Stay alert to receive all new updates from the Leonicorn Swap community to engage in these campaigns and win fantastic prices. You can find more information from the various social media platforms for the Leonicorn swap team and its massive community.

Media Contact

CEO- Mofassair Hossain
Company – Leonicorn Swap
Email- [email protected]
Telegram- LEONICORN SWAP OFFICIAL COMMUNITY
Twitter- LEONICORN SWAP

PR Contact-

Name- Sourav Ghosal

Company- News Coverage agency

Email- [email protected]

Team-  News coverage agency

Disclaimer: This is a paid post and should not be treated as news/advice. 

PlatoAi. Web3 Reimagined. Data Inteligence Amplifed.
Click here for Free Trial.

Source: https://ambcrypto.com/leonicorn-swap-to-launch-a-viral-campaign

Continue Reading
Blockchain4 days ago

Legends: The premium NFT minting platform

Uncategorized4 days ago

Origin Protocol Price Prediction 2021 – Will OGN Hit $5 Soon?

Assets2 days ago

Hedge fund that shorted GameStop closes as $1.13B GME stock offer completes

News5 days ago

When is the right time to buy Bitcoin?

Blockchain5 days ago

Indian Police Arrested ”Crypto King” Who Traded Drugs for Bitcoin

Blockchain2 days ago

PayPal and Visa Lead $300M Funding for Blockchain Capital

Blockchain5 days ago

Will Polygon still be necessary after Ethereum 2.0 is live?

News4 days ago

New Bill Aims To Make Paraguay a Global Crypto Hub

Blockchain1 day ago

7 Altcoins That Make You a Billionaire in 2022

News2 days ago

Crypto Trader’s $20 Investment Explodes to $1,184,154,683,482 on Coinbase – But He’s Not Cashing Out

Uncategorized5 days ago

Is $SHIB Better Than $DOGE? And Other Crypto ($BTC, $ETH, $CHZ) News From Paraguay

News5 days ago

Battlegrounds Mobile India sending your data to a Chinese Server: Report

Blockchain2 days ago

Cardano Founder: Ethereum Will Overtake Bitcoin

Blockchain4 days ago

3 Tons of Bitcoin Mining Rigs Will Reportedly Relocate From Guangzhou to Maryland

Blockchain5 days ago

Bitcoin Whales, FX Acquisitions, ETH Options Expiry, XRP: Editor’s Pick

Blockchain2 days ago

Terra Virtua’s Mechagodzilla NFT sold for $33,700 by Blockmuse

Blockchain5 days ago

Every quad witching, this Chainlink price trend can be observed

Blockchain2 days ago

MATIC, USDT, BAL, WBTC + 3 more cryptocurrencies now available for trading on CoinJar

Blockchain2 days ago

Despite the Bounce: Bitcoin Might Still Retest $24K as Final Leg Down

Blockchain1 day ago

Active Bitcoin Addresses Reach the Lowest Level in 12 Months

Trending