Cryptocurrency News

GameFi and Metaverse least affected by Terra debacle: Report

08/01/2022

Less than a minute

2022.08.01 18:10

GameFi and Metaverse least affected by Terra debacle: Report

Blockchain gaming and the Metaverse have managed to “sidestep” the “Lehman brothers-like” collapse of Terra in May — though decentralized finance (DeFi) and nonfungible tokens (NFTs) haven’t been so lucky, a report says.

In a July 29 report from decentralized application data aggregator DappRadar, the collapse of Terra in May was similar in scale to the 2008 subprime mortgage crisis — causing decentralized finance (DeFi), nonfungible tokens (NFTs) and firms such as Three Arrows Capital (3AC), Celsius and Voyager to cop the brunt of Terra’s destruction.

Weathering the storm

08/01/2022

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