Sony Network Communications and Astar Network to launch a web3 incubation program

Daily Hot Token — Access Protocol (ACS)

U.S. equities were closed on Monday while the market waits for the January PCE print due this Friday. Meanwhile, the broader cryptocurrency shows bullish signs, with Bitcoin testing $25k for several times in the past 24 hours. The hot token for today, ACS, registered big price swings in the past week due to its unique business model.

Access Protocol Holder Count

✕

ACS is the native token of Access Protocol, a web3 content subscription service provider built on Solana. Access Procotol is pioneering a read-to-learn experience, where users earn rewards by subscribing to content services. Many web3 content services providers such as The Block have already joined the creator list, experiencing the new content monetization model with the help of blockchain technology. Nonetheless, ACS tokenomics leads to an inflationary token supply at an annual rate of 7%, sending headwinds to the token performance in the long term.

Read next: Despite the rise in interest rates, we’ve seen over the past few months, the US economy has held up reasonably well, with strong growth in Q3 as well as Q4| FXMAG.COM

 

 

Check Out the Latest Prices, Charts, and Data for ACS/USDT!

Talk of the Town

✕

Sony Network Communications announced the launch of a web3 incubation program in partnership with the Astar Network, a platform built on one of Polkadot’s parachains. The incubator will start hiring soon, aspiring to not only connect web3 startups to more established web3 companies but also provide technical and financial support to aid the growth of these projects. As one of the most prestigious gaming studios in the world, Sony has eyed opportunities in web3 space through this incubator program, together with its previous efforts in building a virtual fan engagement platform with the Manchester City football club and releasing Batman-themed NFTs.

Check out what else is buzzing in the crypto scene today:

Nishad Singh, the former head of engineering at collapsed cryptocurrency exchange FTX, is set to plead guilty to federal prosecutors. (Link)

The top NFT marketplace’s policy shift stems from competition with the popular zero-fee marketplace Blur. (Link)

Hong Kong plans to lift the ban on retail crypto trading. (Link)

Source: Bybit Blog | ACS Revamps Web2 Content Subscription; Sony Launches Web3 Incubation Program