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BITKRAFT Ventures Partners with Terraformation

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BITKRAFT Ventures, an investment platform for gaming and interactive media, and Terraformation, a tech-accelerated forestry company, announced a reforestation partnership focused on the restoration of biodiverse forests and seed banking.

Founded by ex-Reddit CEO Yishan Wong, Terraformation’s vision is to bring Silicon Valley’s techniques for rapid growth to forest restoration. Forests represent the most immediately available and effective means of carbon capture. Addressing the largest bottlenecks to forest restoration at scale, Terraformation team members come from a diversity of fields, including carbon sensing, botany, fintech and logistics, and from organisations such as Paypal, Facebook, Flexport and NASA, giving the company a unique combination of expertise in tech, scaling and forestry. Terraformation currently manages several projects in Hawaiʻi and works with partners across five continents.

“At BITKRAFT, we are driven not only to help shape the future of gaming and synthetic reality, but in the process of doing so set a standard for how we aspire to embody responsible entrepreneurship. This endeavor began with our formal commitment to diversity and representation in service of building a more inclusive future. Our partnership with Terraformation reflects our commitment to building a more sustainable one as well. Working with Terraformation’s team will drive our reforestation efforts and empower our partners, stakeholders and portfolio companies to provide critical environmental aid, and collectively advance the mission of sustaining our planet for generations to come. Beyond creating a direct impact on the greater causes of the moment, we are hopeful our actions inspire similar engagement across our community and industry, as we know that meaningful progress in these areas will require the work of many.”

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To start, BITKRAFT will support two Terraformation projects:

ReClimate, Ukraine – an NGO, founded by three women entrepreneurs, that creates a sustainable model of forest management, bringing together local foresters and small businesses to maintain the restoration of the biodiverse forests in the Rivne region in Ukraine. To date, 300,000 trees have been planted, and the project has prevented over 100 forest fires in the last three years as well as created dozens of jobs to plant and protect the forest and supported the preservation of 80+ species of rare animals. BITKRAFT will be ReClimate’s first international sponsor, enabling the planting of 10,000 trees. This project was selected prior to Russia’s invasion of Ukraine, and both Terraformation and BITKRAFT are undeterred in their efforts to support ReClimate’s instrumental forest restoration work.

The Kilimanjaro Project, Tanzania – a grassroots initiative activating community leaders and local partners to create a scalable restoration initiative around Mount Kilimanjaro, Tanzania, in East Africa. BITKRAFT’s commitment to supporting a reforestation seed bank will help the project’s goal of planting 10 million trees within the next seven years across 13,500 hectares, benefiting over 350,000 people while capturing millions of tonnes of carbon.

“Trees are the world’s most promising carbon capture solution, with potential for immediate impact. To solve climate change, we must plant 1 trillion new trees across the planet by 2030. Every tree begins as a seed, so to make reforestation at scale possible, we need to establish a continuously stocked supply of millions of seeds in every location where we can regrow forests. Terraformation’s goal in 2022 is to establish the world’s largest decentralized native seed banking network. Partnership is the key to achieving any goal of import, and especially to unlocking the solutions to climate change. We’re thrilled to join with BITKRAFT, ReClimate and the Kilimanjaro Project in this climate solution,” Yishan Wong, founder and CEO of Terraformation, said.

Led by Terraformation’s Head of Global Business Development Celia Francis, the investments committed to ReClimate and the Kilimanjaro Project are fulfilled in partnership with ImpactAssets, a leading nonprofit specialising in impact investing and donor-advised funds providing the expenditure responsibility grant oversight for the initiative.

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10-15% Of Gamers In Florida Show Signs Of Gaming Addiction: Here Are 10 Signs Your Kid Is Suffering From It (And How You Can Help)

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Recent studies indicate that 10-15% of young gamers in Florida exhibit signs of gaming addiction. These findings underscore the need for early identification of symptoms to prevent negative impacts on children’s mental and physical health. Gaming addiction, if not dealt with, can lead to poor academic performance, social withdrawal, and even health problems.

Marin Cristian-Ovidiu, CEO of FreezeNova, discusses key indicators of gaming addiction and offers practical advice for parents.

Recognizing Early Signs

“Early recognition of gaming addiction is crucial in preventing long-term negative outcomes,” Marin explains. The following signs can help parents identify if their child might be developing an addiction:

Exhaustion and Irritability

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Constant tiredness and grumpiness during the day could indicate late-night gaming sessions interfering with sleep.

Gaming Obsession 

If gaming dominates your child’s thoughts and conversations, and they plan their day around it while neglecting other responsibilities, it could be a sign of addiction.

Decline in Academic Performance and Lost Interests

A noticeable decline in academic performance or loss of interest in previously enjoyed activities may suggest your child is prioritizing gaming over more important tasks.

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Emotional Volatility

Extreme emotional reactions to in-game outcomes, such as uncontrolled anger, known as ‘Gamer Rage’, or intense celebrations, could indicate an unhealthy attachment to gaming.

Physical Strain

Signs of repetitive strain injuries like ‘Gamer’s Thumb’ or ‘Nintendo Neck’ from prolonged screen time are warning signals.

Neglecting Basic Needs 

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If your child is neglecting basic needs like eating, sleeping, or hygiene to keep playing, gaming has likely taken an unhealthy control over their life.

Creating a Supportive Environment

While video games can be a great source of entertainment and connection, around 70% of people with signs of gaming addiction also experience social disorders. Marin recommends a few tips for building a supportive and open environment for your child.

Teamwork and Setting Boundaries

“Parents and children should work together to create a healthy gaming environment. Gaming addiction requires a holistic approach,” Marin advises. Start by setting clear boundaries on gaming time to ensure there’s room for schoolwork, chores, and quality family time.

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Revisit activities your child once loved, like football practice or exploring new hobbies together. It’s vital for your child to take breaks from screens, so create a balanced daily routine that includes homework, chores, exercise and just some gaming time. This allows your child to enjoy their games without neglecting other aspects of their life.

Open Communication

Maintain open communication. Discuss the games your child enjoys and any concerns you might have. By understanding their world, you can work together to find solutions.

Remember, you’re not alone. If you feel overwhelmed, seek professional help from specialists in gaming addiction. Marin concludes, “By working as a team, setting clear boundaries, and fostering open communication, we can help your child develop a healthy relationship with gaming and thrive in all areas of life.”

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Compliance Updates

SYNOT Games Officially Certifies Over 140 Games in Brazil

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SYNOT Games has announced that more than 140 of its games have now been officially certified in Brazil.

“We are delighted to announce that more than 140 of our games have now been officially certified in Brazil. This significant achievement allows us to expand our reach and introduce a diverse selection of games to this dynamic market. Brazil represents a key opportunity for growth, and we are committed to delivering exceptional gaming experiences to the Brazilian audience,” the Company said.

“We are thrilled to introduce our portfolio in Brazil, offering innovative and engaging gameplay that promises to captivate and entertain players,” Martina Krajci, CCO at SYNOT Games, said.

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SPGA Introduces Code of Conduct to Highlight Member Commitment to Compliance and Safety in Social and Promotional Gaming

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The Social and Promotional Gaming Association (SPGA), an organization dedicated to providing stakeholder education and advocating for the responsible operation of social games offering promotional sweepstakes prizes, today announced the implementation of a Code of Conduct for its operator members.

The Code of Conduct is designed to spotlight the processes and technologies already in place at both SPGA member sites and the majority of social casinos offering promotional sweepstakes, also referred to as social sweeps games.

Social sweeps games combine the established social casino model, on which Americans have spent over $40 billion in the last decade, and add promotional prizes. No purchase is necessary to win prizes, and the vast majority of users play for free.
The foundational pillars of the Code of Conduct include the application of regulation-grade suppliers, technology, or policies to ensure: 
  • Age verification to limit real money play to users 18 and older

  • Proper identity verification (Know Your Customer or KYC) 

  • Location verification of customers 

  • AML policies to ensure proper transaction monitoring

“The pillars of the SPGA Code of Conduct highlight the technology and processes already in place at most social sweeps operators to ensure that the millions of adults who enjoy these games do so in a safe and reliable environment,” said Camilla Wright of Red Knot Communications, a spokesperson for the SPGA. 
“The standards of the Code of Conduct go above and beyond the accepted best practices for traditional social casinos.”
In the months ahead, the SPGA will release more details on the Code of Conduct, introduce additional pillars, and engage an external firm to certify member compliance with the Code.  
“We look forward to continuing to develop the Code of Conduct to further strengthen the commitment of SPGA members to compliance and player protection while providing consumers with a highly social and engaging experience that is always free to play,” said Wright.      
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