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.

Blockchain Games: Playing and Profiting in a New Era of Online Entertainment

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.

The MagicCraft team has struck gold with a remarkable $10 million funding commitment from the forward-thinking GEM Digital, propelling their blockchain gaming initiative to new heights.

Istanbul Blockchain Week is coming, and within its extensive program, blockchain gaming company W3E will host the world’s first Web3 esports tournament on November, 17. Let’s go over the event’s highlights and key figures.

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.

Sandeep Nailwal, co-founder of Polygon, has started a new venture capital fund titled Symbolic Capital. The company will focus on startups from emerging markets and help bolster the mass adoption of Web3 globally.

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.”

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.

Mobile developer Playstudios has opened a blockchain division to provide players with more reward opportunities with new engaging experiences. On top of that, the company launched a special fund focused on Web3 projects.

New blockchain startup AO Labs has closed a $4.5 million seed round. The company wants to create an ever-evolving platform for blockchain games titled Spacebar. The goal is to make it community-driven and open source.

UnCaged Studios is another ambitious studio in the blockchain gaming space. The team behind play-to-earn soccer game MonkeyLeague has now raised $24 million to develop high-quality crypto titles that can be sustainable.

Apex Game Studios is a new company founded by Dead or Alive creator Tomonobu Itagaki. The team will be making AAA Web3 games, including the upcoming MMORPG for PC and mobile titled Warrior.

Cauldron has raised $6.6 million in a seed round. The blockchain studio, which is now working on Project Nightshade, is focused on storytelling and wants to become the “Pixar of Web3”.

Blockchain company Polium has announced its own “multi-chain console” for Web3 gaming. The device, however, faced a lot of criticism online, with people struggling to understand its purpose. Not to mention its logo being similar to that of the GameCube.

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.

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.