P2E
Play-to-earn falling out of favor after ‘massive shift in priority’ — BGA survey
A new survey has found that the blockchain gaming industry is experiencing a “massive shift,” with the once-popular play-to-earn (P2E) model falling out of favor and focus shifting to improving gameplay experience. The survey results were included in a newly released annual report from the Blockchain Game Alliance (BGA) on Jan. 12, conducted with 347 professionals representing 252 projects or companies in the blockchain sector. According to BGA, most respondents were young adult males working for blockchain gaming companies in middle and top management positions. One of the trends from the report was an apparent shift in how blockchain gaming executives viewed P2E as a driver for blockchain gaming adoption. Chart showing factors that could impact blockchain gaming ad...
Bandai Namco, SEGA among gaming giants eyeing blockchain gaming
Japanese gaming giants are positioning for mainstream blockchain game adoption, and will not be swayed by the section of gamers that are against crypto and nonfungible tokens (NFTs), an exec from the Oasys blockchain project told Cointelegraph. Speaking to Cointelegraph at the 2022 Tokyo Games Show last week, Oasys Representative Director Ryo Matsubara emphasized that the project’s big-name partners such as Bandai Namco, Sega and Square Enix are not just jumping on the crypto bandwagon —there’s a long-term vision for blockchain-based Play-to-Earn (P2E) gaming: “We have a shared vision about blockchain at the executive level. They don’t [want to] change that policy. They really understand the future adoption of blockchain. They’re not thinking about, you know, j...
Twitch co-founder raises $24M for Web3 gaming firm Metatheory
Web3 gaming and entertainment company Metatheory founded by Twitch co-founder Kevin Lin has raised $24 million in a Series A funding round on Monday. The round was led by crypto capital venture firm Andreessen Horowitz (a16z), with participation from Pantera Capital, the venture arm of the FTX cryptocurrency exchange, FTX Ventures, and other venture firms, according to the announcement. Metatheory was launched in November 2021 around one year after Lin left Twitch, where he wrote in a Medium article at the time that he was creating the gaming company and also a blockchain game called DuskBreakers. Lin was quoted in this week’s announcement as saying: “Building immersive digital experiences has always been a passion of mine, and after stepping away from Twitch to explore what’s next in...
Sega will likely not introduce NFTs for play-to-earn if ‘perceived as simple money-making’
The leadership at video game firm Sega Corporation’s holding company has suggested that they may avoid nonfungible tokens in play-to-earn model games based on the response from users. In a Dec. 14 meeting of Sega Sammy Holdings’ CEO Haruki Satomi, senior executive vice president Koichi Fukazawa, and Sega Corporation president Yukio Sugino, the trio said they needed to “carefully assess” how to potentially introduce nonfungible tokens, or NFTs, into Sega titles to “mitigate the negative elements” and work within Japanese regulations. The executives cited “negative reactions” from users overseas rewarded in NFTs for gameplay. “In terms of NFT, we would like to try out various experiments and we have already started many different studies and considerations but nothing is decided at this poin...
Fractal: 110K join Discord of Twitch founder’s new NFT gaming marketplace
Twitch co-founder Justin Kan launched a new blockchain gaming-focused nonfungible token (NFT) marketplace on Thursday dubbed Fractal. Fractal’s Discord group has since amassed more than 111,000 members despite only being announced two weeks ago. At the time of writing, it appears that the most significant sale on the platform so far was for a “Baby Scoot” NFT that went for 4 Solana (SOL) worth roughly $680. The Solana-based marketplace enables users to buy, trade and hold NFTs used in blockchain games. In an announcement made on Thursday, the firm unveiled its first partnered blockchain games, including The Sandbox, Nyan Heroes, Caveworld and Genopets, to name a few. first of all: we are live https://t.co/y2yO4R7Ty2 — fractal ❄️ (@fractalwagmi) December 30, 2021 As part of th...
Korean government tells Apple and Google stores to take down P2E games
The South Korean government has moved to block the release of new play to earn (P2E) games and requested that existing ones be removed from Google Play and Apple’s App Store. P2E gaming has become popular in the cryptocurrency industry. Gamers typically must first purchase game pieces as non fungible tokens in order to play the game and receive in-game rewards. However gaming prizes over a few dollars are banned in South Korea. The Game Management Committee (GMC) in the Ministry of Culture, Sports, and Tourism yesterday requested major mobile app marketplaces block any games that require in-app purchases before playing the game. To combat the proliferation of what it sees as speculative money-making schemes, the GMC has made it all but impossible for P2E game developers to get their work l...
