💬 SHIB launches its own social network

💬 SHIB launches its own social network ⚔️ FLOKI introduces its first Metaverse game 👷 Miners are having a hard time staying afloat

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Now let's talk about what recently happened in the space:

💬 SHIB launches its own social network 

⚔️ FLOKI introduces its first Metaverse game 

👷 Miners are having a hard time staying afloat

SHIB launches its own social network

Shiba Inu (SHIB), a popular dog themed meme coin project has launched its own social network, and they are already reeling in the users! It looks like 350 users are now part of this exclusive club, with privileges such as publishing articles and blogs, playing games, visiting Shib-related websites and even getting a job.

The news were first shared on TheShibDream, Shiba Inu's official news account and the SHIB community has shown their support. Of course, it probably won't become the most popular network, but the SHIB army has spoken and they are staying loyal to their cause.

Meanwhile, SHIB's lead dev has been dropping some major hints about an upcoming partnership. He ecently changed his Twitter bio to "We are not alone" and the location to “with a new fren…guess who”. It's still unclear what this could mean but there is speculation that it might be hinting at a new collaboration.

Whatever the announcement might be, only time will tell. In the meantime, it's clear that Shiba Inu devs are staying active even despite the market downturn. They are bravely pushing ahead with their project and they have the support of their community behind them. That's definitely worth something!

FLOKI introduces its first Metaverse game

Meme coin devs have to be the most innovative when it comes to experimenting with the new ideas. FLOKI, a meme coin, has just released its first metaverse game called Valhalla.

Valhalla is a turn-based combat game that claims to challenge your tactical abilities. It comes with a twist, though - your fighters will be represented by non-fungible tokens (NFTs) called Vera. Being a blockchain game, all the battles in Valhalla are processed on Optimism's Kovan Testnet.

Valhalla's whitepaper states that users can earn and collect FLOKI tokens by playing the game. This currency is essential for purchasing in-game items to make passing through the levels easier. FLOKI will also be used to burn a "huge chunk of tokens" for the purpose of ensuring that it remains within the ecosystem and is not abused by outside agents.

Apart from earning in-game rewards, players can also join tournaments, participate in events and even buy special edition Vera NFTs. Overall, it's nothing too out of the ordinary, though FLOKI's innovative approach to token burning certainly adds an extra edge to the game. It remains to be seen if the game will actually be enjoyable and successful or if it will become just another experiment in the world of blockchain gaming.

Miners are having a hard time staying afloat

Mining profits continue to decrease, yet the Bitcoin hash rate continues to defy gravity and reach new highs. Somehow. The crypto community is left scratching its head as this bear market continues to provide us with some strange phenomena.

Research by CryptoSlate has shown that the two most popular Bitmain miner machines, the Antminer S9 and Antminer S17, have seen their effectiveness tumble in recent months. Both machines went from being profitable to unprofitable in May this year, despite the growing global hash rate.

Also, according to data from Hashrate Index, the most efficient ASIC miners have seen their prices fall a whopping 86.82% from May 7 this year to just $15.71 per terahash by December 25th. Mid-tier machines saw an even larger decline, with prices tumbling 89.36% from its peak of $96.24 on that date. That means mining hardware that used to be worth tens of thousands of dollars is now valued at just a fraction of its original price.

It seems that the mining industry is in a bit of trouble. Perhaps it’s time for the miners to start looking for new solutions and strategies to stay afloat. Until then, it looks like the bear market will continue to make life difficult for them.