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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Metaverse has become the buzzword for tech companies and startups across the globe over the last year. Despite the skepticism around this sector remaining high, some analysts think that it might turn into a $13 trillion industry by the end of this decade.

Gala Games has announced a partnership with Unity to drive the creation of the upcoming social metaverse titled VOXverse. The Sims creator Will Wright is also involved in the development of the project, which is described as a blockchain version of Minecraft.

Blockchain startup Ryu Games has announced its own store Flame, which is described as Steam for Web3. The company also hired former Valve engineer Rick Ellis, who is known as the founder of the biggest distribution platform for PC gaming.

Animoca Brands has completed the acquisition of Notre Game, a Czech studio behind mobile card game Scratch Wars. It will develop a new P2E title based on its business model combining digital and physical experiences.

Solana has decided to invest in the South Korean crypto market following the recent Terra collapse. The blockchain platform has established a $100 million fund to back the country’s Web3 startups, including the ones developing NFT and GameFi projects.

Tim Sweeney has criticized the so-called “Fortnite Token,” a cryptocurrency named after Epic Games’ battle royale. He called it a scam, warning that his company is now preparing legal action against it. However, the Fortnite Token creators argued that it was a “fair-launch” and “fans-created” project.

Supercell has made its first step into the blockchain gaming field. The Clash Royale maker has participated in a $4.5 million funding round raised by UK-based studio Oxalis Games, which claims to “redefine people’s perception of crypto games.”

Animoca Brands has shared its latest unaudited financial report. The company, which owns games like The Sandbox and Phantom Galaxies, stated that it now holds $1.5 billion in crypto and blockchain gaming assets.

Blockchain gaming platform Gala Games has announced its partnership with Epic Games as part of its strategy to bring Web3 into the mainstream. The company’s upcoming battle royale GRIT will become the first NFT game on the Fortnite maker’s store.