Blockchain Game
OpenAI will lead to better art and narration in Web3 games — Immutable exec
The creation of smart contracts and Web3 interfaces has led to an entirely new play-to-earn or nonfungible token (NFT) genre of video games. But during the 2021 crypto bull market and subsequent crash of 2022, many of the games in this niche went through incredible ups and downs in terms of player count and transaction volume. Despite this volatility, one Web3 gaming executive who spoke to Cointelegraph says that new innovations in artificial intelligence (AI) will make the genre better than it has ever been. Alex Connelly is the chief technology officer of Immutable, developer of the Gods Unchained digital collectible trading card game and Immutable X NFT platform. He told Cointelegraph that OpenAI, an AI-focused American research laboratory dedicated to developing friendly AI application...
Final Fantasy creator reveals ‘aggressive investment’ in blockchain games
Final Fantasy creator Square Enix is set to double down on blockchain game development despite turbulence in the crypto market, according to a Jan. 1 letter from the Japanese company’s president, Yosuke Matsuda. The letter, titled “A New Year’s Letter from the President,” aimed to recap the company’s major accomplishments in 2022 and explain its plans for 2023. Out of 15 paragraphs, seven were about blockchain gaming, showing that blockchain gaming is a major focus of the company’s investing strategy going forward. ⚔An introduction to SYMBIOGENESIS ①⚔ Starting from today we’ll begin introducing Symbiogenesis, starting from the concept✨ Symbiogenesis is a new franchise by SQUARE ENIX, which brings real game utility ⚔ to 10000 collectible NFT artworks ...
Axie Infinity is toxic for crypto gaming
Blockchain gaming is only four years old — a toddler compared to the rest of the industry. It has a lot of growing up to do, particularly when it comes to play-to-earn games. I’m a 28-year game industry veteran. I’ve produced 32 titles in that period of time on everything from Sega Genesis to Oculus Rift. Some of them were great. Many were forgettable. I didn’t hear much chatter about blockchain gaming from traditional developers and players until Axie Infinity began to take off. Cut to the peak of 2021, and the game had nearly 2 million players logging on daily. Most people outside the crypto community at the time were (and still are) extremely skeptical about blockchain’s ability to add anything meaningful to games. They see Axie as an example of the low production values and...
Axie Infinity is toxic for crypto gaming
Blockchain gaming is only four years old — a toddler compared to the rest of the industry. It has a lot of growing up to do, particularly when it comes to play-to-earn games. I’m a 28-year game industry veteran. I’ve produced 32 titles in that period of time on everything from Sega Genesis to Oculus Rift. Some of them were great. Many were forgettable. I didn’t hear much chatter about blockchain gaming from traditional developers and players until Axie Infinity began to take off. Cut to the peak of 2021, and the game had nearly 2 million players logging on daily. Most people outside the crypto community at the time were (and still are) extremely skeptical about blockchain’s ability to add anything meaningful to games. They see Axie as an example of the low production values and...
Heroic Story secures $6 million to build Web3 tabletop RPG world
Web3 gaming protocol Heroic Story raised $6 million in a seed round led by Upfront Ventures with participation from Multicoin Capital and Polygon Technology, the company announced on Nov. 17. The funds will be used to hire talent, market the live beta and develop on-chain technology for a massively multiplayer role-playing game (RPG) world, the company told Cointelegraph. The round brings Heroic Story’s total financing to $7.4 million. Other investors included strategic angels, such as a16z Games Fund One founding investor Jonathan Lai, Team Liquid CEO Steve Arhancet and Quantstamp CEO Richard Ma, alongside Miramax head of film Wolfgang Hammer and screenwriting duo Ryan and Kaz Firpo, who are cousins and co-writers of Marvel’s Eternals. “We fell in love with the vision for Heroic Sto...
NFTs bring in-game ownership to a new level, says Blokhaus founder
Nonfungible tokens (NFTs) have taken the gaming world by storm. Whether it’s through limited edition collectibles, avatar enhancement or play-to-earn incentivization, digital assets have given in-game ownership a new meaning. The ways in which NFTs are available to players are becoming increasingly tangible. In the case of Blockxer, the latest blockchain game from Blokhaus Inc., every component of the game has been NFT-ized and available for modification by users. Mark Soares, the founder of Blokhaus Inc., told Cointelegraph that when every aspect of the game is an NFT, users can create completely “bespoke” game experiences. Everywhere a user turns in this 8-bit, arcade-inspired game, there is an NFT — from the background and the characters to the weapons and more: “Imagine the ...
South Korean ministry recommends enactment of special Metaverse laws
The Ministry of Science and ICT (MSIT) of South Korea revealed plans to move away from imposing traditional video gaming laws on the Metaverse. Instead, the ministry decided to issue new guidelines for incentivizing the growth of the budding ecosystem. South Korea’s interest in garnering Web3 and the Metaverse ecosystems is evidenced by the $200 million investment it made for the creation of an in-house Metaverse. Running parallel to this effort, the MSIT identified that imposing older regulations serve as a deterrent to the growth of new ecosystems. In the first meeting of the National Data Policy committee, MSIT noted that “We will not make the mistake of regulating a new service with existing law.” However, discussions around designating the Metaverse as a video game are still on the ta...
How GameFi contributes to the growth of crypto and NFTs
The crypto industry has grown tremendously over the past couple of years, and one of its biggest drivers is the GameFi industry. GameFi — a portmanteau of gaming and finance —enables gamers to earn rewards while playing. The market has been growing steadily and presently has a token market cap of approximately $9.2 billion. Notably, GameFi networks have continued to thrive despite the crypto winter. Indeed, the industry is forecasted to reach a $74.2 billion valuation by 2031. How GameFi networks work GameFi ecosystems are based on blockchain technology and use different in-game economic setups to reward players. The rewards are usually in the form of nonfungible tokens (NFTs) that are tradable on major marketplaces. The items are typically in the form of virtual lands, costumes and ...
Gaming makes up over half of blockchain industry usage, DappRadar
New data from DappRadar suggests that gaming remains a vital organ to the blockchain industry. According to the report, the gaming sector accounts for approximately 50.51% of industry usage month-over-month (MoM), as per August numbers. While overall the numbers are a good indicator for the sector, it is a decrease from the previous month. Last month, the gaming sector made up approximately 57.30% of industry usage (MoM). The data from DappRadar comes from the daily Unique Active Wallets (UAW). According to the surveyor, there are around 847,230 gaming-related UAW active daily with nearly $698 million in transactions. Source: DappRadar Gaming has long been touted as a gateway to the world of Web3, blockchain, and crypto. Another recent survey from ChainPlay highlighted that of 2,428 survey...
GameFi investors are now prioritizing fun factor over money: Survey
GameFi, the fusion of gaming and decentralized finance (DeFi), attracts a set of investors that tend to choose projects based on their use case rather than money-generating potential. The GameFi ecosystem attracts GenZ investors and gaming enthusiasts. As a result, it stands as an entry point for numerous first-time investors. A ChainPlay survey participated by 2428 GameFi investors revealed that 75% of the respondents joined the crypto space solely because of GameFi. 3 in 4 respondents joined cryptocurrency because of GameFi. Source: ChainPlay While roughly half of the investors joined the GameFi space initially for profits, 89% of GameFi investors succumbed to Crypto Winter 2022 — with 62% of them losing more than 50% of their profits. GameFi profits are decreasing. Source: ChainPlay How...
Fortnite developer supports Animoca subsidiary’s blockchain racing game
Australian indie game developer Grease Monkey Games, a subsidiary of Animoca Brands, has received received financial support from video-game giant Epic Games to develop a new blockchain-based motorsport game Torque Drift 2 Receiving an Epic MegaGrant from the Fortnite developers, the funding will be used to develop the motorsport title, which is based on drifting. The Unreal Engine is a 3D computer graphics game engine developed by Epic Games, which has been used in many industries after it was first showcased in the 1998 game Unreal. According to an Aug. 18 announcement from Animoca Brands, the Epic MegaGrant, which ranges from $5,000 to as much as $500,000, will be used to develop a realistic gaming experience that is on par with other triple-A games that also utilize the Unr...
Revoland Interview: What exactly does blockchain gaming offer compared to conventional gaming?
Blockchain gaming is quite an exciting space, with new innovations cropping up all the time. With the meteoric rise of both e-gaming and cryptocurrency in recent years, and the various potential use cases that incorporating blockchain into gaming could offer, it makes sense that we are seeing an exciting sector pop up which merges these two dynamic industries. Revoland is one such firm operating in this space. As the first blockchain-based multiplayer online battle arena (MOBA) game, it recently raised $10.6 million during seed and pre-sale rounds. The project calls on gamers to team up with colleagues, family, and friends to compete with other players for rewards in $LAND, a native token of the platform. The title was developed by Chain X Game (CXG): a London-based metaverse g...
