"Berachain & Abstract: Blockchain's New Kids on the Crypto Block"

Berachain and Abstract, two ambitious blockchain projects, have recently launched and gained significant attention in the crypto community. However, they have also faced criticism and skepticism from some industry insiders.

Berachain, launched by the creators of Bong Bears NFTs, is a Web3 blockchain that uses a unique "Proof of Liquidity" consensus mechanism. The project has already seen over 2 million transactions and has accumulated over $1.6 billion in pre-launch liquidity. However, some industry executives have expressed concerns about the project's approach, suggesting that it has built a chain somewhat randomly after accumulating a pile of NFT money.

Meanwhile, Abstract, launched by the Pudgy Penguins team, has also garnered attention for its focus on gaming and livestreaming. The platform has around 750 approved accounts for livestreaming, but its total value locked (TVL) is significantly lower than Berachain's, at $8.49 million as of Thursday morning. Some critics have argued that Abstract caters to "normies and streamers" rather than incentivizing whales, while others remain skeptical about its potential traction in the crypto streaming market.

Berachain has unveiled an airdrop of its tokens, allocating half of the supply to investors and initial core contributors. However, some early testnet users have expressed dissatisfaction with the small fraction of tokens they have been allocated. Additionally, the project has blocked US residents from accessing certain online sites, raising concerns about accessibility and regulatory compliance.

Despite the criticism, both Berachain and Abstract have their supporters. Berachain's founder, Smokey, has described the project as a series of "happy accidents," while Abstract's marketing lead, Phineas Totten, has emphasized the project's distinct differences from Berachain and its focus on having fun on-chain again.

In other news, Sony's Soneium blockchain has launched as a rollup on Optimism, marking a significant entry of a major corporation into the crypto space. While the blockchain is managed separately from Sony Interactive Entertainment and PlayStation, industry experts believe that it could pave the way for more big fish to jump into the crypto pond if it proves successful.

In the NFT space, PENGU, the Pudgy Penguins' NFT token, underwent a significant token burn this week, with over 12