In this week’s edition of the Bitcoin.com News Week in Review, two of the world’s largest banks — Credit Suisse and Deutsche Bank — are suffering from distressed valuations, with credit default insurance levels looking like those last seen in the 2008 financial crisis. For those interested in assets outside of such behemoth tradfi (traditional finance) institutions, a handy guide on how to claim your ETHW tokens from the recent Ethereum hard fork can also be found in this edition. Further, a U.S. senator has introduced a “No Digital Dollar Act,” and Japanese gaming giant Sega is set to launch its first blockchain game.

‘Trading Like a Lehman Moment’ — Credit Suisse, Deutsche Bank Suffer From Distressed Valuations as the Banks’ Credit Default Insurance Nears 2008 Levels

It’s been more than a decade since the financial crisis in 2007-2008 when Lehman Brothers, the fourth largest investment bank in the United States, collapsed and filed bankruptcy. Close to 14 years later, Credit Suisse and Deutsche Bank, two of the world’s largest banks, are suffering from distressed valuations and the banks’ credit default insurance levels are approaching degrees not seen since 2008.

Read More

A Step-by-Step Guide on How to Access Your ETHW Tokens if You Held ETH Before The Merge

With the new Ethereumpow (ETHW) network launch, ethereum holders are eligible to receive a single ETHW for every ether they own. The following is a simple guide that shows ethereum holders how to access their ETHW tokens using a wallet like Metamask.

Read More

US Senator Introduces ‘No Digital Dollar Act’ to Prohibit Treasury and the Fed From Interfering With Americans Using Paper Currency

A U.S senator has introduced the “No Digital Dollar Act to prohibit the U.S. Treasury and the Federal Reserve from interfering with Americans using paper currency” if a central bank digital currency is adopted. The bill further states: “No central bank digital currency shall be considered legal tender under section 16 5103 of title 31, United States Code.”

Read More

Japanese Gaming Giant Sega to Launch First Blockchain Game

Sega, one of the largest Japanese gaming companies, has announced that it will launch its first blockchain game in collaboration with Double Jump Tokyo, another Japanese development company. The game, which is based on Sega’s Sangokushi Taisen franchise, will be built using Oasys, a Japanese scaling-focused project, to support its blockchain elements.

Read More

What are your thoughts on this week’s hottest stories from Bitcoin.com News? Be sure to let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

On June 6, the Web3 entertainment company Gala Games announced that the Wild West-focused battle royale blockchain game Grit will soon be available via the Epic Games Store and accessible to 194 million users. The well known company Epic Games is the producer of the Unreal Engine and the popular online video games Fortnite and Gears of War.

Blockchain-Powered Grit Gets Added to the Epic Games Store — Gala Games Exec Says Epic Listing Brings Legitimacy to This New Genre of Gaming

The Epic Games Store currently hosts a blockchain video game called Grit, a Wild West-based battle royale game built using the Unreal Engine. Grit players face a gang of gunslingers “in epic showdowns and shootouts” and the game features over 400 types of old-school guns. The game crafted by the Web3 entertainment firm Gala Games is listed on the Epic Games Store but the description notes that Grit is “coming soon.”

Gala Games is also behind the Web3 first-person-shooter (FPS) Last Expedition, and the Gala Music platform. The Web3 business also has plans to launch a non-fungible token (NFT) esports game called Spider Tanks. Epic adding a blockchain-based game to its popular gaming store is a milestone according to John Osvald, the president of games at Gala Games. “Epic is a pioneer and visionary in the video game industry. Gala Games’ titles being available on the Epic Game Store brings legitimacy to this new genre of gaming,” Osvald said in a statement published on Monday.

Osvald added:

Easy access to Web3 games is a turning point for those players who have not yet seen how digital ownership can enrich the gaming experience.

Gala Games Launches ‘The Gunslinger Box’ Sale for Grit at Galaverse Event in Malta

Additionally, Gala Games is currently hosting the Galaverse event in Malta from June 6-9, 2022. The company is offering a sale called “The Gunslinger Box,” which unlocks one of the 10,000 Grit avatars. Each Grit avatar features in-game perks and generative attributes, the announcement on Monday discloses. The Galaverse event will also disclose a number of other Grit announcements during the three days.

“Here at Team Grit we are invested in this new ecosystem and see all the value that Web3 can bring to the gameplay experience,” Jon Mavor, the chief technical officer at Team Grit remarked. “We are excited to be working with Gala Games and by our presence on the Epic Games Store. Web3 will make players’ experiences in the Wild West even better.”

What do you think about a blockchain game being listed on the Epic Games Store? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Grit, Gala Games

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.