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GameFi News July 27, 2022

Mighty Bear Games raises $10 million to launch its own blockchain game division

Mighty Bear Games received $10 million in funding from Framework Ventures to launch its own blockchain unit and immediately announced its first blockchain game, Mighty Action Heroes.

GameFi News July 20, 2022

Town Star pauses distribution of its TOWN token as it announces major changes to in-game economy

Gala Games has announced its decision to pause the issuance of the TOWN token due to a series of major economic changes to its play-to-earn farming title Town Star. The game will also switch to a new engine to improve its security and attract new players.

GameFi News July 20, 2022

Square Enix backs Zebedee in $35 million round to integrate Bitcoin-based payments into video games

Fintech startup Zebedee has closed a new $35 million funding round. The company will allocate this money towards scaling its blockchain payment platform for virtual worlds. The ultimate goal is to help developers build real economies in video games and let players earn Bitcoin while playing.

GameFi News July 19, 2022

Bankrupt blockchain fund Three Arrows Capital owes $3.5 billion to 27 creditors, including its co-founder and his wife

It has been revealed that almost 30 companies have lent money to Three Arrows Capital (3AC), a crypto hedge fund that filed for bankruptcy earlier this month. The total debt is $3.5 billion, with the list of creditors including the fund’s co-founder and his wife.

GameFi News July 19, 2022

Dubai plans to create 40k virtual jobs in metaverse and add $4 billion to city’s GDP in five years

Dubai-based blockchain companies already contribute $500 million to the national economy. Now the Emirates plans to invest more in the metaverse and create 40,000 virtual jobs under a new strategy.

GameFi News July 18, 2022

Crypto market reclaims $1 trillion valuation as Bitcoin and Ethereum prices soar

The global crypto market is now flashing green again, with Bitcoin and Ethereum showing significant gains. This rebound has made the global cryptocurrency market cap back above the $1 trillion mark after the latest collapse.

GameFi News July 18, 2022

US senator calls on SEC to ‘crack down’ on crypto platforms that scam customers

Us Democratic Senator Elizabeth Warren has called on Congress and the Securities & Exchange Commission (SEC) to tighten regulations on the crypto industry and protect customers from scams. She thinks that authorities have to act more aggressively, especially after the bankruptcies of several firms have resulted in people losing their investments.

GameFi News July 15, 2022

OpenSea cuts 20% of staff amid ‘unprecedented combination’ of crypto winter and macroeconomic instability

The talent attrition in the crypto market continues. OpenSea, the largest NFT marketplace in the world, has cut 20% of its staff. The company cited the so-called “crypto winter” and macroeconomic challenges as the main reasons behind this decision.

GameFi News July 14, 2022

UnCaged Studios raises $24 million for its P2E soccer game MonkeyLeague

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.

GameFi News July 13, 2022

Dead or Alive creator starts Apex Game Studios to make ‘immersive’ AAA blockchain games

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.

GameFi News July 12, 2022

Animoca Brands hits almost $6 billion valuation, ready to survive crypto winter

Blockchain gaming giant Animoca Brands has raised $75.3 million, which brings its market valuation to $5.9 billion. The company will continue to invest in more titles, believing that the so-called “crypto winter” won’t kill the industry.

GameFi News July 11, 2022

Kongregate snaps up mobile developer Gamaga as part of its expansion into blockchain gaming

Modern Times Group-owned company Kongregate has announced an acquisition of Chilean mobile studio Gamaga. The deal should help it expand its blockchain capabilities, including the development of Web3 games.

GameFi News July 11, 2022

Shanghai to establish $1.5 billion fund to help launch 100 metaverse products by 2025

Shanghai’s government has announced it plans to establish a $1.5 billion fund dedicated to metaverse development. The initiative is supposed to accelerate China’s economic recovery through supporting companies working in this area.

GameFi News July 8, 2022

Blockchain gaming studio Cauldron raises $6.6 million to bring Pixar-like storytelling to Web3

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”.

GameFi News July 7, 2022

Pocketful of Quarters becomes Unity partner to let devs transfer virtual currency between different games

Pocketful of Quarters (POQ) has become an official Unity partner. This will not only allow developers to implement blockchain technology for their projects, but also to transfer in-game tokens between multiple titles.

GameFi News July 7, 2022

Axie Infinity infamous crypto hack reportedly happened due to fake job offer on LinkedIn

New details about the infamous hack that resulted in over $600 million being stolen from Axie Infinity have been revealed. It turned out that hackers tricked a Sky Mavis developer into applying for a fake job offer at a fictitious company.

GameFi News July 5, 2022

Former TikTok gaming head launches Meta0 to develop multi-chain protocol for NFT games

Jason Fung, former head of TikTok’s gaming division, has founded the new company titled Meta0. He wants to fix infrastructure problems with blockchain gaming by developing a special protocol with multi-chain support.

GameFi News July 4, 2022

Polium One dubbed “next-gen console for Web3 gaming” faces criticism, including copying GameCube logo

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.

GameFi News July 4, 2022

Crypto fund Three Arrows Capital files for bankruptcy after failing to pay $670 million loan

Crypto hedge fund Three Arrows Capital (3AC) has filed for bankruptcy amid the ongoing blockchain industry collapse. The company is now seeking protection from creditors in the US after failing to pay a $670 million loan.

GameFi News July 1, 2022

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.

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