Keyp, a crypto startup, has announced shifting its focus to Open Dollar, a stablecoin in the works. This will see the Game Boy Crypto Wallet put on hold for an indefinite time. The company has clarified that it has not permanently withdrawn the wallet but has only halted the development for the time being. Gamers and crypto fans are not precisely happy with the announcement, but there is a chance that the introduction of Open Dollar could change the course of the ecosystem.
Game Wallet initially had the intention of gamifying the experience of a hardware wallet while helping users store BTC and ETH. Joseph Schiarizzi, the project’s founder, has confirmed the news by saying that they are now 100 percent focused on Open Dollar.
The developers have not permanently shut down Game Wallet. Meaning, there is a chance that the team, led by Joseph, may eventually drive around the offering in the days to come. An email to supporters cited prevailing market conditions as the reason for the shift. There are no specific details, but it is safe to assume that the pivot is because of the rise in demand and adoption of stablecoins.
Many people now recognize Web3 and actively seek ways to get on board and experience the innovative sphere backed by decentralized technology.
Joseph is confident that Open Dollar will deliver significant value in the DeFi segment and has apologized to the community for changing their plans. As a consolation, Keyp has committed to providing access to the beta version of Open Dollar. Community members will be able to provide feedback for improvement and also experience the power of holding a stablecoin in their accounts.
There is no tentative timeline for when Keyp is planning to get back to developing the Game Boy Crypto Wallet. Interested users can continue exploring crypto wallets by accessing the ones that are up and running in the market. This includes Trust Wallet, Coinbase Wallet, and ZenGo Wallet, among others.
Meanwhile, Matr1x has raised $10 million in funding to boost its mobile gaming projects. The NFT gaming company hosted a fundraising event that Folius Ventures led and welcomed participants like Initiate Capital and ABCDE Capital.
Total funds raised by Matr1x now amount to $20 million in VC funding. Jason Kam from Folius Ventures has said that Matr1x has a lot of potential for exploring those territories of the industry that have never been explored before.
Circling back to Keyp, there is no more progress on the Game Boy Crypto Wallet as the company is now focusing on bringing its stablecoin, Open Dollar, to the market. Joseph cited market conditions as a reason for the pivot, disappointing gamers and crypto fans eagerly waiting for the product. They now get access to Open Dollar Beta as a consolation.