Sony Acquires Crypto Exchange
Japanese conglomerate Sony Group has acquired the crypto exchange operator Amber Japan from Sony's subsidiary, Quetta Web. In the crypto market, PEPE experienced a gain today. Additionally, the role of Rollblock (RBLK) in the entertainment and gaming industry is explained.
Sony's Acquisition
The acquisition was announced by the Wu Blockchain account on Twitter on Monday, July 1, 2024, and confirmed by Amber Japan on its official website. The acquisition also marks a rebranding of the crypto exchange managed by Amber Japan, changing its name from WhaleFin to S.BLOX.
Amber Japan was acquired by Sony Group's subsidiary Quetta Web in August 2023.
"Amber Japan, known for its crypto asset trading service WhaleFin, has officially changed its name to S.BLOX on July 1, 2024. This change comes after Amber Japan became part of the Sony Group in 2023. WhaleFin will soon undergo significant updates, including enhancements to the user interface (UI) design and the launch of a new, more user-friendly app. Additionally, plans to add more cryptocurrencies and new functions are underway," the company said in a statement reported by PRTimes.
It was also mentioned that Amber Japan was previously acquired by Quetta Web, a wholly owned subsidiary of Sony Group Corporation, in August 2023.
"This name change is a strategic move to strengthen its position in the ever-growing crypto asset market. Headquartered in Minato-ku, Tokyo, S.BLOX was established on January 10, 2018. With the full support of Sony, S.BLOX is poised to develop more innovative services that meet the evolving needs of users in the crypto asset market," said Jun Watanabe, President, and CEO of S.BLOX.
Sony has had a long-standing relationship with blockchain and crypto. In February 2019, the company collaborated with Fujitsu to create an encrypted database for educational certificates. The database utilized blockchain technology to prevent forgery of Japanese language proficiency certificates, which are commonly used by foreign residents to obtain residency.
In November 2022, Sony filed a patent related to the NFT and blockchain sectors, titled "Tracking Unique Digital Assets in Games Using Tokens on Distributed Ledger."
PEPE Gains Momentum
Amidst these developments, the price of the meme coin Pepe Coin (PEPE) surged by 2.73% within the past 24 hours on Monday evening, reaching approximately US$0.00001159. PEPE remains ranked third in the meme coin sector according to Coinmarketcap, with a market capitalization of US$4,877,386,266.
Technically, PEPE has risen above the MA50 (US$0.00001165) on the daily time frame after spending the past week fluctuating below this support level, reaching a low of US$0.00000978.
Based on the MACD indicator, PEPE is yet to establish significant momentum, despite a bullish crossover forming on June 25, 2024.
According to the Swing High Low Support & Resistance indicator, PEPE must surpass another key resistance point at US$0.00001349 before challenging its all-time high of US$0.00001721.
The rise in PEPE's price aligns with the positive sentiment in the global crypto market, which has increased by 2% in the past 24 hours, reaching a market capitalization of US$2.32 trillion.
Rollblock (RBLK) in Entertainment and Gaming
In addition to Sony's acquisition of a crypto exchange and the analysis of PEPE's gains, there is a new crypto project currently in its presale phase. Named Rollblock (RBLK), the project focuses on participating in the online entertainment and gaming sector.
The chance-based entertainment and gaming industry is estimated to be worth US$450 billion, with projections of reaching US$750 billion by 2028. This industry has a dedicated following, community, and rapidly growing user base.
Rollblock's primary feature is its revenue-sharing model, which distributes 30% of its revenue to RBLK token holders. This is achieved through buybacks of the token from the market, with half of the tokens burned to increase their rarity.
The remaining revenue is allocated to token holders as staking rewards. Rollblock currently offers dozens of chance-based games, including some based on sports.