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Today in Crypto: Sony and MeetKai Reveal Metaverse Gaming Experience for Horror Film, ‘We Are in Early Stages of Bull Market’ Say Analysts

Sead Fadilpašić
Last updated: | 3 min read

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

Gaming news

  • Sony Pictures and Spyglass Media Group partnered with AI and metaverse company MeetKai to create a virtual gaming experience for their horror film Thanksgiving, coming to the movie theatres on November 17. According to the details shared with Cryptonews, Survive Thanksgiving is “the first-ever metaverse world created to accompany a theatrical film release in history.” Inspired by the film directed by Eli Roth and starring Patrick Dempsey, Rick Hoffman, and Addison Rae, the experience will launch on October 31, integrating the film’s storyline into the metaverse to deliver a new level of interactive horror. Available to play through a compatible VR headset and any web browser on a mobile or desktop device, from a first-person point of view, players can choose from three realistic 3D avatars to escape a killer, it said.

Investment news

  • October is set to register an increase of more than 27% following a green September – the second-highest growth on a monthly basis this year, according to crypto exchange Bitfinex analysts. If October registers growth, November often follows suit: there’s a 60% likelihood that November will be a green month for BTC, per historical data. “Currently, long-term holder Bitcoin balances and [Spent Output Profit Ratio] SOPR values remain much lower in comparison to previous periods. Thus, while it may be prudent to prepare for some sideways movement for investors, we still believe that we are in the early stages of a bull market,” they said. This week’s Bitfinex report found that options open interest is showing signs of a gradual recovery, currently standing at $1.15 billion for the month, stating: “While it’s shy of its all-time high, the trajectory suggests a revival in institutional interest.”

Bitcoin news

  • Crypto exchange Bitget announced the start of a series of events to celebrate the 15th birthday of the Bitcoin Whitepaper’s release. The event will be hosted on online venues and includes offline street performances in Austria and Taiwan, with more regions in plans for upcoming days. Per the press release, a bustling street in each region was selected to host a statue performer dressed as Satoshi Nakamoto, holding a Bitcoin Briefcase. “The performance captured the attention of passers-by and acted as a powerful media attraction, subsequently amplifying its presence on social media and further boosting the event’s visibility,” the exchange said.

Mining news

  • The hashrate connected to Antpool, the second-largest bitcoin mining pool, experienced a notable surge in October, according to the latest Miner Weekly report by BlocksBridge Consulting. As of October 29, the blocks mined this month by Antpool reached 1,175, the highest number since 2016, according to data from TheMinerMag. Therefore, Antpool is narrowing the gap with Foundry USA Pool, whose market share declined to 28%. Still, the combined market share of the two largest pools remains at a historic high of 55%, it said. Antpool launched a cloud mining business earlier this month, so part of the increased hashrate may have originated from its proprietary mining operations. Also, Bitmain imported 19 EH/s of S19XPs to the US in Q3, potentially contributing to the growth of Antpool’s hashrate footprint.

Legal news

  • Digital asset miner Core Scientific announced that it and certain of its affiliates reached an agreement in principle (the “Restructuring Term Sheet”) with the Ad Hoc Noteholder Group and the Equity Committee regarding the terms of a chapter 11 plan of reorganization. Per the press release, the agreement in principle is yet to be finalized. “The Restructuring Support Agreement, if and when executed by the Debtors, the Ad Hoc Noteholder Group and the Equity Committee, is expected to include terms consistent with those terms set forth in the Restructuring Term Sheet,” the company said.

Exchange news

  • Crypto exchange OKX published its 12th monthly Proof of Reserves (PoR), showing $12.5 billion in primary assets backing user funds. According to the press release, OKX’s current reserve ratios are as follows: BTC 103%, ETH 103%, and USDT 103%. OKX said that it has seen hundreds of thousands of users engage with its PoR, visit its PoR page, and view their self-audits since first launching the page in November 2022. The open-source verification tool allows users to independently verify OKX’s solvency and confirm their assets are backed by OKX reserves while maintaining their privacy, it added.