Web3 Games: State and Prospects on the Road to a New Era (Or Not)
Let’s start with the well-known fact: the crypto-winter is still in session. While traditional game developers are slowly and ungracefully rolling towards an interest in cryptocurrency games, those who develop “playable” variations are still playing around with various crypto schemes.
Trustxgaming is changing the gaming world with a new Play-to-Earn platform based on blockchain technology
Trustxgaming, a crypto platform on the Binance blockchain, has transformed the way play-to-earn fans enjoy gaming. They’ve brought together various games, allowing gamers to explore and handle tokens all in one place. This blockchain-based platform uses a single in-game currency called TXG, so players can earn while having fun online.
Mythical Games working on Ethereum-compatible chain ahead of upcoming Merge
Ahead of Ethereum’s switch to the proof-of-stake model, Mythical Games has announced its own chain compatible with the EVM (Ethereum Virtual Machine). The team behind Blankos Block Party is looking forward to reducing gas fees for gamers.
Solana Ventures backs Crypto Fantasy Town, blockchain game with its own NFT lending system
Crypto Fantasy Town, an upcoming blockchain game based on the mobile title of the same name, has closed a seed investment round. It is a social sim project, which also offers the NFT lending system to lower the cost of entry.
Swiss crypto bank Sygnum to open metaverse hub in Decentraland to showcase its ‘Web3 innovations’
Sygnum is the first Swiss bank to have its own metaverse residency. The crypto company and virtual asset manager has announced the opening of a digital hub in Decentraland. It will feature an NFT gallery and space for virtual conferences.
Blockchain game developer Xterio raises $40 million to create new generation of Web3 titles
Web3 game developer and publisher Xterio has raised $40 million in a new funding round. The Swiss company plans to build a social gaming platform and create free-to-play cross-platform blockchain titles based on its own IPs.
Report: crypto companies laid off almost 5,000 employees this year, with Coinbase cutting over 1,000 people
The ongoing crypto winter, which has wiped out almost $2 trillion in value from the market, has affected blockchain companies across the globe. This has resulted in nearly 5,000 people losing their jobs in recent months.
Animoca Brands to raise $100 million in new round led by Singapore’s state fund Temasek
Crypto giant Animoca Brands, now valued at $6 billion, is preparing for a new $100 million funding. The round will be led by Temasek, a Singapore’s state investment fund with net portfolio value of hundreds of billions of dollars.
Phil Spencer explains his cautiousness about P2E games: “It creates a worker force out of players”
Xbox head Phil Spencer has shared his thoughts on the latest trends in GameFi. He expressed his concerns about the play-to-earn model and explained why a lot of gamers now don’t like the concept of the metaverse.
Crypto gaming DAO Matchbox raises $7.5 million to become ‘on-chain version of Unreal Engine’
MatchboxDAO, a community of on-chain game developers, has raised $7.5 million at a $50 million valuation. The team will promote development on Ethereum scaling platform StarkNet and build infrastructure for on-chain titles.
PlayNFT launches platform allowing streamers to create NFTs with in-game utility
PlayNFT has raised over $300k for its new cross-chain platform. It will let Twitch and YouTube streamers create their own NFTs that can be used in blockchain games. However, the project leaves more questions than answers about the way it works and titles it supports.
Ultima creator Richard Garriot unveils Web3 MMO Iron & Magic, urges players to buy NFT land
Richard Garriot’s new NFT MMO game, announced a few months ago, now has a name and an official website. The upcoming project involving the Ultima creator encourages future players to buy digital land pots “in the realm of Lord British.”
Lysto raises $12 million to standardize gamer reputation through on-chain credentials
India-based Web3 startup Lysto has raised $12 million to improve its protocol for on-chain credentials. The company’s main goal is to standardize the reputation of users playing different blockchain games and participating in online tournaments.
Neowiz launches Polygon-based gaming platform Intella X to bring its traditional games to Web3
South Korean developer and publisher Neowiz Corporation has announced its decision to step into the blockchain field. As part of this strategy, the company teamed up with Polygon to launch gaming platform Intella X and bring some of its IPs to Web3.
Metaverse company Hadean raises $18 million from Tencent and CIA-backed fund
Chinese tech giant Tencent has participated in a £15 million ($18.3 million) funding round for Hadean, a British startup building virtual worlds and its own metaverse platform. Other investors include a CIA-backed fund and the British government.