JPMorgan analysts’ report has pointed to a tentative recovery in DeFi and NFTs. The analysts, however, caution against premature optimism. Their report notes a notable uptick in NFT sales volume and increased total value locked in DeFi.

JPMorgan analysts, led by Nikolaos Panigirtzoglou, have cautiously approached the recent upswing in decentralized finance (DeFi) and non-fungible tokens (NFTs). Their report highlights a tentative recovery in these sectors, signalling potential optimism. However, the analysts underscore the need for a vigilant outlook, citing nuanced factors influencing the market shift. DeFi and NFT recovery signals In their recent report, the JPMorgan analysts express a tempered view on the nascent recovery observed in DeFi and NFTs but cautioned against premature optimism. The report notes a notable revival in NFT sales volume and increased total value locked in DeFi after nearly two years of a downturn. Despite these positive signals, the analysts emphasize that these are initial signs of revival and should be cautiously approached. The recovery in DeFi is attributed to the natural increase in overall crypto trading activities, with decentralized exchanges (DEXs) playing a role. Additionally, the rise of liquid staking, particularly led by Lido since early 2023, has been a contributing factor. The cautious stance stems from Ethereum’s challenges, including high fees and low transaction speeds, hindering its performance despite its central role in DeFi and NFTs. Emergence of new chains as Ethereum stagnates The report acknowledges the emergence of new blockchains and platforms like Aptos, Sui, Sei, Celestia, and Blur, which are seen as encouraging for the industry. However, Ethereum’s underperformance relative to other cryptocurrencies affects the total value locked when measured in ether terms. The analysts recognize upcoming Ethereum upgrades as potential solutions to scalability issues but remain cautious, citing uncertainties about the timing and effectiveness of these upgrades. In conclusion, JPMorgan’s analysts present a nuanced perspective on the recent DeFi and NFT recovery, urging a watchful approach amid positive signs and potential challenges. The technical tone emphasizes the need for a comprehensive understanding of market dynamics and the evolving landscape of decentralized finance and non-fungible tokens.

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Illuvium has partnered with Team Liquid to unveil the Early Access release of Illuvium: Arena game. The partnership with the esports platform will see streamers limit-test Illuvium: Arena’s competitive modes. Fans will have a chance to acquire limited-edition Team Liquid digital collectibles called Illuvitars.

Illuvium, a decentralised gaming platform on Ethereum, has teamed up with esports heavyweights Team Liquid for limit-testing of the Early Access release of its Illuvium: Arena game. In an announcement shared early this week, Illuvium said the partnership with Team Liquid is a key step towards bringing blockchain gaming to the mainstream audience.  Team Liquid is a top esports team, with over $47 million won in prizes, while Illuvium (ILV) is one of the top GameFi projects in the crypto gaming industry. Team Liquid streamers to test Illuvium: Arena game In the early access phase, integration with Team Liquid will see eight streamers explore and test the Illuvium: Arena game’s competitive modes – Auto Battler and Overworld.  Those to take part in the auto battle game include Midbeast, Broxah and SnoodyBoo. Currently specialising in Teamfight Tactics, Hearthstone, and League of Legends, the streamers will showcase Arena’s competitive mode to their audience. Illuvium believes this integration will help correct “the perception that blockchain games do fall short of the quality and allure of traditional AAA titles” Commenting on this, and what its partnership with Team Liquid means for blockchain gaming, Kieran Warwick, co-founder and CEO of Illuvium, said: “Overcoming the scepticism around blockchain games is crucial, and the way forward is by delivering exceptional gaming experiences. Our collaboration with Team Liquid is a significant milestone in demonstrating that blockchain games, including those with NFTs, can offer engaging and deep gameplay experiences on par with traditional games.” Fans can acquire Illuvitars Illuvium combines an immersive gaming experience with the benefits of decentralised finance (DeFi) and non-fungible tokens (NFTs) in a gaming universe that has Illuvium: Zero, Illuvium: Overworld, Illuvium: Beyond and Illuvium: Arena. Players can trade in-game assets for real-world currency on the gaming platform’s marketplace IlluviDEX. Integration with layer-2 platform ImmutableX allows for peer-to-peer trading and zero gas fees. With the integration with Team Liquid, fans have a chance to acquire Illuvitars, limited-edition Team Liquid digital collectibles. Demand for Illuvitars is high given their capacity to unlock unique in-game features in the Illuvium Universe. The collectibles will be available from December 12th. Illuvium has previously collaborated with retail gaming giant GameStop, and this release comes after three years of development and $60 million investment. It also follows Illuvium’s listing on the EPIC store, putting the blockchain game alongside mainstream titles such as Fortnite, Destiny 2 and Assasin’s Creed.

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