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GameFi News July 1

Tencent and other Chinese tech giants sign pact to stop NFT secondary trading

30 Chinese tech companies, including Tencent, have signed a pact to stop NFT secondary trading. They also pledged to regulate their activities in the market and prevent speculations.

GameFi News June 30

Metaverse platform Mona raises $14.6 million to let creators build and sell virtual worlds as NFTs

Mona has raised $14.6 million for its metaverse platform for digital creators. It is designed to help people build virtual worlds and sell them as NFTs, while also offering its own infrastructure and editor.

GameFi News June 29

Report: NFT market “has fallen off the cliff” in June, with sales dropping below $1 billion mark

The NFT market has continued its downfall this month, with sales dropping to the lowest levels in the last 12 months. Experts think that investors are now looking for safer places following the latest Terra collapse and other warning signs.

GameFi News June 29

Project Twelve raises $8 million to build its Web3 gaming ecosystem and make game economy sustainable

Project Twelve (P12), which operates its own metaverse editor, has closed a new $8 million funding round. The company will allocate the money to develop its own Web3 gaming ecosystem and make the game economy sustainable. One of the goals is to remove the widespread for-profit model.

GameFi News June 28

STEPN’s reward token plunges 98% in two months while its move-to-earn rivals on rise

STEPN, the most famous move-to-earn app globally, has seen its reward token drop almost 100% in the last two months. This might be due to the unsustainability of the product’s tokenomics. However, its rivals in the category have been on the rise for a while.

GameFi News June 27

Harmony places $1 million bounty to return $100 million in cryptocurrency stolen during latest attack

Harmony, a blockchain protocol for Web3 apps and games like DeFi Kingdoms, has offered a $1 million bounty for the return of $100 million stolen during the latest bridge attack. However, some people think the reward is too low for hackers to consider taking it.

GameFi News June 24

Axie Infinity to reimburse victims of $625 million hack, with Ethereum down over 60% ever since

Sky Mavis has pledged to reimburse Axie Infinity players affected by the $625 million hack no later than next week. However, the announcement came in the wake of the latest crypto market crash, which sent the Ethereum price to the downfall.

GameFi News June 23

Square Enix wants to create ‘story-focused’ NFTs as part of its blockchain expansion

Square Enix has once again opened up about its blockchain ambitions. The Japanese publisher plans to create NFTs that will be integrated into its games and will focus on story.

GameFi News June 23

1confirmation launches $100 million NFT fund focused on games, art, and photography

Venture firm 1confirmation has launched a new $100 million fund for NFT projects. The company will invest in gaming, art, and other startups, with the main focus on new projects.

GameFi News June 22

Manticore Games allows NFT projects on its metaverse platform Core, launches blockchain API

Epic Games-backed metaverse platform Core has started its expansion into the blockchain space. Manticore Games launched its own API that allows creators to make games and other interactive experiences based on their NFT collections.

GameFi News June 22

Meta, Microsoft, Epic Games, and 33 other tech giants form metaverse standards body

36 tech giants, including Epic Games, Microsoft, and Meta, have formed a special group for the open metaverse. They will cooperate to accelerate the development of standards needed to build and deploy digital worlds compatible with each other.

GameFi News June 21

Create-to-earn economy explained: what to know about Bisonic’s Web3 MMORPG Forgotten Runiverse

Bisonic has launched the first playable demo of its upcoming Web3 MMORPG based on the Forgotten Runes Wizard’s Cult NFT collection. Titled Forgotten Runiverse, the game utilizes the so-called “create-to-earn” model, tokenizing every digital item and providing players with more UGC opportunities.

GameFi News June 20

Admix merges with The Sandbox largest builder LandVault to form $300 million metaverse company

Game monetization and advertising platform Admix has announced its merger with LandValut, which builds virtual experiences on platforms like The Sandbox. Together, they will form a new metaverse company with a valuation of $300 million.

GameFi News June 17

Immutable launches $500 million fund for Web3 games on IMX platform

Immutable, which operates an Ethereum-based scaling platform, has launched its development and venture investment fund. The company will back creators of Web3 games with a combination of cash and its native token.

GameFi News June 16

Animoca Brands snaps up TinyTap for $38 million to mix blockchain with educational UGC

Animoca Brands has acquired a majority stake in TinyTap, a platform that allows users to create educational games. The $38.8 million deal should help the Hong Kong-based company gain its foothold in the area of blockchain-based educational UGC.

GameFi News June 16

Animoca Brands and The Sandbox backer TGV closes $146 million fund for Web3 startups

VC firm True Global Ventures (TGV), which has already backed blockchain companies like The Sandbox and Animoca Brands, has announced the first closure of its $146 million follow-on fund. It will support late-stage Web3 startups, including gaming ones.

GameFi News June 15

Uncorrelated demand, time-limited events, and other things blockchain games can learn from Genshin Impact

Blockchain games have been attracting investors’ attention for a while now, but they usually struggle to retain players and keep the engagement level high. So here are 5 things that crypto developers can learn from free-to-play hits like Genshin Impact to improve their projects.

GameFi News June 15

Playful Studios raises $46 million for Wildcard, Web3 hybrid of MOBA, RTS, and CCG genres

Playful Studios has raised $46 million to launch The Wildcard Alliance subsidiary and bring fun into Web3 gaming. The team is now working on blockchain-based title Wildcard, which combines elements of MOBA, RTS, and collectible card games.

GameFi News June 14

‘Snow Crash’ author Neal Stephenson steps into Web3 by announcing ‘truly open metaverse’ LAMINA1

Neal Stephenson is known for defining the term “Metaverse” in his cyberpunk novel “Snow Crash” back in the early 90s. The writer has now decided to bring his own vision of this concept to life by announcing a new project titled LAMINA1 aimed at helping creators realize their ideas.

GameFi News June 14

Global cryptocurrency market cap falls below $1 trillion for first time since January 2021

The value of the cryptocurrency market has fallen below $1 trillion for the first time since January 2021. It happened amid a global industry shakeup, with investors ditching riskier assets.

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