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Fresh Off The Block: Excitement rallies in crypto space as ‘Merge’ fast approaches and more

Chloe Lim
Chloe Lim9/12/2022 01:11 PM GMT+08  • 2 min read
Fresh Off The Block: Excitement rallies in crypto space as ‘Merge’ fast approaches and more
Vitalik Buterin, Ethereum’s co-founder, expects the completion of the Merge to happen between Sept 13-15. Photo: Bloomberg
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Crypto enthusiasts and investors are counting down to the ‘Merge’, which awaits Ethereum’s shift from its long-standing proof-of-work (PoW) system to that of proof-of-stake (PoS). The structural upgrade promises to be more sustainable, accessible and secure in hopes to spur wider adoption of the cryptocurrency.


See: Ethereum’s upcoming ‘Merge’ a milestone but ‘forks’ abound, says crypto community

Vitalik Buterin, Ethereum’s co-founder, expects the completion of the Merge to happen between Sept 13-15. Google search engine has also provided a native countdown clock for “Ethereum Merge” searches, which also displays its current hashrate and merge difficulty details, among others.

Meanwhile, New York Stock Exchange (NYSE)-listed video game retailer Gamestop announced on Sept 7 that it has formed a partnership with FTX US. This venture is designed to allow more Gamestop customers to enter FTX’s community and digital assets marketplaces.

FTX is a cryptocurrency exchange headquartered in the Bahamas that has seen a US$10 billion daily average trading volume since Feb. FTX also operates FTX.US, a separate exchange for US residents.

See also: Crypto firm Genesis is preparing to file for bankruptcy

Following this move, Gamestop will be FTX’s preferred partner in the US.

Next, Singapore-based Oasys, a gaming-optimised PoS blockchain announced on Sept 12 that Square Enix has joined its project as the final 21 initial node validators on its platform. Validators like Square Enix are primarily focused on verifying transactions on the blockchain.

Square Enix is a Japanese entertainment conglomerate and video game company best known for its games such as Final Fantasy and Kingdom Hearts.

See also: Founders of Three Arrows Capital mocked after seeking to raise US$25 mil for new venture

Earlier this year, Square Enix announced that a major strategic theme for the company moving forward would be to explore the development of decentralised games, having launched its Blockchain Entertainment Business division in April.

Other companies on board this project include SEGA and Bandai Namco.

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