WAX Studios, which created the WAX blockchain network, has raised $10 million in funding. The company will use the money to improve the functionality of in-game NFTs as part of its ongoing push for the GameFi market.

The US Attorney’s Office has opened the first-ever insider trading case involving NFTs. Former OpenSea product manager Nathaniel Chastain is named as the main defendant, facing up to 20 years in prison.

Based in the Philippines, Playdex is a new marketplace allowing players of P2E titles to rent in-game NFTs. The team has raised $2 million in a seed round with participation from PDAX, iSeed Ventures, and other investors.

Meta Apes, a free-to-play MMO strategy game, has become the first title to launch on the BNB Chain Application Sidechain (BAS). It opens new opportunities for the developers, who claim to mix the benefits of a decentralized economy with the fun of traditional Web2 gaming.

Blockchain gaming has been struggling to retain users after an explosive growth that happened last year. As a result, the number of active players of top Ethereum games has collapsed by almost 100%.

Game companies across the globe have been trying to integrate blockchain into their titles for a while. The latest example is MMO Ni no Kuni: Cross Worlds from South Korean developer Netmarble, which has already caused backlash over in-game crypto elements.

Developers of blockchain games have started to look towards adding more traditional entertaining elements to their projects. Mirai Labs recently announced its plans to include skill-based gameplay into its NFT horse racing title Pegaxy, which has been experiencing some issues with retaining players.

Sky Mavis has been working on adding more mini games from third-party teams to Axie Infinity’s ecosystem to increase in-game earnings. This move comes at a time when the SLP price continues to sink.

Pixowl has found a new way to motivate users to create UGC for The Sandbox. The company launched a new game jam, where participants will compete for a prize pool consisting of utility tokens worth a total of $340k.

Polygon remains the fastest-growing Ethereum sidechain. Over the last 30 days, games on it have attracted almost 450k new players, with Sunflower Land being the top title.

Web gaming platform Kongregate has partnered with Immutable X to establish a $40 million fund for blockchain games. It consists of a special pool of tokens, which will be granted to developers.

Interest in GameFi and blockchain titles is on the rise despite all the issues in the industry. So here is what should be known before getting into this area full of big opportunities and pitfalls.

Berlin-based studio Spielworks has launched Season 3 of its NFT title Wombat Dungeon Master. The latest update adds multiplayer elements and a clans system to the game.

Blockchain gaming surpassed $6 billion in trading volume in the first quarter of 2022, according to the latest report by Footprint Analytics and DeGame. The study highlights top chains by transactions, as well as analyzes GameFi tokens liquidity and fundraising amounts.

SpotX Games, a new Miami-based startup, has officially joined the Niantic family. The team will help the company behind Pokémon Go to strengthen its positions in the area of Web3 gaming, as it plans to build the so-called “real-world metaverse.”

Blockchain gaming has been rapidly growing for a while, attracting users and investors globally. However, this growing industry still has a lot of issues that need to be solved, including the large amount of speculation and its unsustainability.

NFTs can really change people’s lives, and this time for the better. An artist / indie developer, who has been struggling to earn off their work, has decided to try out the blockchain and sold their first drop for tens of thousands of dollars.

Axie Infinity’s utility currency has been showing almost no growth for a while, flowing around near-zero values. This resulted in players’ daily earnings dropping by 40 times compared to previous highs.

DeFi Land, a Solana-based agriculture simulation web game, has added play-to-earn mechanics to its ecosystem. This move is in line with developers’ ambitions to gamify all aspects of decentralized finance.