Lưu trữ cho từ khóa: Web3 gaming

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Sonic SVM’s SonicX onboards over 100k TikTok users to Web3

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Sonic SVM, a blockchain company focused on gaming, has introduced a new Web3 game on TikTok, according to a press release shared with crypto.news. 

The game, called SonicX, simplifies the process of joining Web3 by embedding a wallet directly into TikTok, allowing users to explore blockchain without the usual complexities.

SonicX is a simple “clicker” game in which players tap the screen to collect digital rings stored on the blockchain. These rings, including cryptocurrencies and NFTs, can lead to rewards. The game builds on the popularity of similar “tap-to-earn” games, like Notcoin (NOT) and Hamster Kombat, which have gained traction on Telegram.

The key feature of SonicX is its embedded wallet, which allows TikTok users to log in using their existing accounts without needing to manage complicated private keys or passwords. This approach streamlines the onboarding process and makes it easier for users unfamiliar with blockchain technology to participate. 

As players advance in the game, they can earn more rewards and refer their friends to join, creating a viral effect.

Since its launch last month, over 120,000 TikTok users have signed up, making SonicX one of the most successful Web3 integrations within a mainstream app like TikTok. This could signal growing interest in decentralized apps, especially among users who have never engaged with blockchain before.

Sonic SVM and Solana

Sonic SVM, backed by $12 million in funding, is looking to carve out a space for blockchain gaming on the Solana (SOL) network. Solana is known for its speed and lower transaction costs, making it popular in decentralized finance. However, it has yet to become a major player in the blockchain gaming space, where networks like Immutable X have taken the lead.

Sonic SVM aims to change this by offering tools for game developers to build on Solana. These tools allow developers to create game-specific networks, called Layer-2 rollups, which can process many transactions off the main blockchain at a faster rate and lower cost, according to the release.

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Web3 gaming mainstream adoption will happen gradually, then suddenly | Opinion

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The iGaming industry is witnessing impressive growth, with global market projections reaching $127 billion by 2027. A driving force behind this trend is web3 gaming, which offers enhanced gaming experiences through features like in-game asset ownership, community-driven development, and increased transparency. 

Unlike mobile gaming, which can be costly and require multiple in-app purchases to unlock a viable gaming experience, web3 enables users to monetize their spending and gain a sense of ownership of the game. Yet, web3 gaming is still in its infancy and has some headwinds to overcome before capturing the imagination of the mainstream.

The rising popularity of web3 gaming

Between February 2023 and 2024, the web3 gaming sector received a total of over $162 million distributed across early and mid-stage funding. Richer gaming experiences paired with new revenue streams for developers through token sales, NFT trading, and in-game assets create a more sustainable and diversified business model in a decentralized and transparent environment. Web3 gaming provides innovative and creative opportunities for developers to experiment with new ideas, such as DeFi integration and VR and AR experiences—and global gaming studios are taking note. 

According to a recent report by CoinGecko, 29 out of 40 of the world’s largest video game companies are investing in web3 gaming, including Microsoft, Tencent, Sony, and Nintendo. It includes investing directly in web3 gaming projects, actively engaging in blockchain game development, and hiring for blockchain-related roles.  Epic Games, an eSports pioneer, is also riding the web3 gaming wave with plans to introduce at least 20 NFT games to the Epic Games Store in 2024 alone.

Meeting gamers where they’re at—Telegram 

While opportunities in web3 gaming abound, it remains a niche segment. Gaming studios and developers need to employ creative tactics to capitalize on existing user bases and appeal to them on a deeper level. Telegram-based games are a prime example of this, with the rapidly growing ecosystem of token-backed mini-apps leveraging the vast social network’s over 900 million users and appealing to them with innovative gameplay, token rewards, and digital asset airdrops. Within weeks of launching during an airdrop for Notcoin (NOT) players in May of this year, the NOT token reached a market capitalization of over $2 billion. 

Understanding the importance of meeting gamers where they are to draw in a broader audience, Notcoin has since partnered with us at Helika to establish an incubator for the next generation of Telegram games. The Telegram Gaming Accelerator will aid the developers of Telegram-based mini-apps to better understand their users, cultivate exciting experiences, and entice newcomers with value-driven incentives. As more and more traditional gamers catch on to the possibilities of web3 gaming, mainstream adoption will happen gradually, then suddenly. 

Scaling web3 gaming for the mass market

Despite the undeniable groundswell, web3 gaming must overcome additional challenges to scale for mass market adoption. For non-crypto-users, the barriers to entry remain prohibitively high with complexities such as integrating web3 wallets and learning about self-custody best practices beyond the reach of the average gamer. Many web3 games struggle to gain traction due to high fees and high latency from the underlying blockchain architecture, and game developers suffer from a lack of quality analytics to gain visibility into their on-chain game economies. 

As blockchain-based gaming races to overcome these hurdles, abstract the complexities of interacting with the blockchain away, and scale the tech to overcome lagging, reliable data partners are essential. Web3 game developers need to understand which elements of their games are working (and which aren’t) to cultivate a user experience that feels as smooth and compelling as the one they are used to—with all the added benefits of web3. This remains pivotal to onboarding the masses.

As users seek more immersive gaming experiences, web3 gaming holds the key, and global gaming studios are throwing their hats into the ring. With almost one billion users globally, initiatives like the Telegram Gaming Accelerator mark a giant step toward triggering mass adoption and igniting the game theory that will onboard the next billion to the ubiquitous web.

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Crypto VC funding: Celestia, Infinex, Pencils Protocol score backing

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In this week’s venture capital update, more than $253 million flowed into the crypto startup world, although the bulk of that funding went to the blockchain network Celestia Foundation.

Crypto.news perused social media and tapped the latest data from Crypto Fundraising to determine that over a dozen companies raised capital between Sept. 22 and Sept. 28.

Celestia Foundation, $100 million

The Liechtenstein-based non-profit organization, known for building Celestia (TIA), raised $100 million from major crypto-focused venture capital firms, led by Bain Capital Crypto.

Infinex, $65.29 million

Infinex, a decentralized exchange, secured $65.29 million via a non-fungible token, or NFT, sale. Framework Ventures, Solana Ventures, Wintermute, Eden Block, Moonrock Capital and Bankless VC each participated in the effort.

Pencils Protocol, $30 million

Pencils Protocol, an auction platform and yield aggregator on Scroll, raised an additional $30 million. DePIN X, Taisu Ventures, Black GM Capital and Bing Ventures are among its strategic investors.

Initia, $14 million

Initia clinched $14 million in a Series A round. Tomasz Tunguz and Spencer Farrar from Theory VC led the effort. Delphi Ventures and Hack VC also participate.d.

Mawari Network, $10.8 million

TK

Mind Network, $10 million

Mind Network raised $10 million in a pre-A funding round. Investors in the effort included Animoca Brands, Arkstream Capital, Cogitent VC, MH Ventures, Moonhill Capital, SwissBorg, IBC Group, Master VC, and others.

Darkbright, $6 million

Bitkraft Ventures led an oversubscribed $6 million seed round for Darkbright, the web3 studio behind the Smolbound role-playing game.

Daylight, $6 million

Union Square Ventures and 1kx Network co-led a $6-million seed funding round in crypto platform Daylight. The startup is known for its transaction recommendation API.

Gunzilla Games, $6 million

Delphi Ventures invested in Gunzilla Games, its largest gaming investment to date. Gunzilla’s GUNZ blockchain is a key component of the studio’s upcoming Web3 game, “Off The Grid.”

AminoChain, $5 million

AminoChain, a decentralized biobank and Layer 2 network, remained relatively quiet over the past two years. That is, until, a16z crypto led a $5 million seed funding round for the startup. This brought total funding to $7 million. The deal marks a16z’s first investment in DeSci, or decentralized science.

Funding rounds < $5 million

  • Eigenpie: The restaking SubDAO designed to maximize earning potential for liquid staking token holders raised $4 million.
  • Meshmap: The open and decentralized platform received $4 million from a16z, Colosseum, Lattice, Escape Velocity, GSR and other institutions.
  • Meridian: ParaFi Capital, Borderless Capital, Amber Group, Saison Capital, Interop Ventures, and Oak Grove Ventures pooled $4 million for the Hong Kong-based decentralized liquidity marketplace.
  • Helixlabs: The startup nabbed $2 million in a pre-seed funding round from Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group. Its valuation hovers at around $40 million.
  • EarthFast: Nascent led a $1.4 million pre-seed funding round; The General Partnership also participated alongside Kain Warwick, Roneil Rumburg, Bodhi Ventures

For last week’s column, click here.

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GameFi investment is surging: Blockchain becomes a staple in every title | Opinion

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Web3 gaming has received a lot of skepticism over the past few years. However, the industry has undergone substantial changes in the developer’s approach to gameplay mechanics, reward models, and inclusivity factors. The result? We’re seeing GameFi emerge stronger than ever. 

It’s not just a theoretical observation but rather a statistical one. In the second quarter of 2024, blockchain gaming projects received a remarkable $1.1 billion investment—a 314% jump from the previous quarter. The positive investment sentiment is largely attributed to the growing adoption of web3 games, as they now account for 28% of all dApp activity.

So, it’s safe to say that GameFi is evolving. But what comes next? How does the industry maintain this momentum, and where is blockchain gaming headed on a global scale?

From web3 niche to industry standard

One thing is clear: Web3 gaming is no longer a fleeting trend. Blockchain technology has now cemented itself as an essential tool for the gaming industry, and the reasons are compelling. The most significant advantage that blockchain brings to the table is ownership. Players can now own in-game assets such as skins, characters, or items, creating real value that extends beyond a single title. Web2 games traditionally allowed players to make in-game purchases, but these assets remained tied to the game’s ecosystem, with no option for real ownership. Blockchain breaks this barrier by ensuring true asset ownership and secure transactions, allowing players to trade or sell items across multiple platforms.

Investors have taken notice. The massive capital injection we saw in Q2 2024 is just the start, and the strategic implications go beyond the numbers. Investors are now looking for games that offer long-term value—games where blockchain mechanics complement the gameplay, not overshadow it. This signals a new phase for GameFi, where the focus shifts from short-term speculative gains to creating sustainable ecosystems for both players and developers.

So, developers who ignore this shift risk falling behind. Those who embrace blockchain and web3 technology as part of their long-term strategies are more likely to survive in a market that is rapidly becoming blockchain-centric.

Removing the friction of web3 adoption

For blockchain gaming to achieve mainstream appeal, it must shed the complexity associated with web3 mechanics. One of the common critiques from gamers unfamiliar with web3 is that it introduces unnecessary complications. The integration of wallets, NFTs, and tokens can alienate players who simply want an entertaining experience. Games should be games first—whether they use blockchain or not. What sets blockchain gaming apart is that it adds layers of opportunity, not confusion, as long as developers focus on ease of use.

The solution lies in seamless integration. In successful blockchain games, the underlying technology becomes invisible to the player. They don’t need to understand the intricacies of NFTs or smart contracts. What they see is a game where they can trade, own, and invest in digital assets without any technical friction. Developers are increasingly focusing on making blockchain elements ‘background’ technology that improves player experience rather than becomes the experience itself. When this balance is struck, web3 gaming will see massive adoption from gamers who once dismissed it as overly complicated.

The future of GameFi: Long-term vision and strategic investment

As the market matures, the focus is moving from the play-to-earn business models and more to the competitive and efficient gaming environments. Many early P2E GameFi projects have already collapsed due to unrealistic tokenomics and shallow gameplay mechanics.

The lesson learned here is crucial: Games should not be built around profit motives alone. Fun and engaging gameplay must remain the priority, with blockchain providing opportunities for rewards and ownership as a secondary benefit.

We also learned to accept and adapt to this shift at Farcana, which initially launched as a P2E game but has now been rebranded as a “Bitcoin Shooter.” We have shifted focus to the competitive nature of the game first. Players earn Bitcoin (BTC) as a reward for mastering gameplay—not for simply logging in or participating. This model encourages true player investment and skill development, moving away from the short-term profit-seeking behaviors that characterized earlier GameFi projects.

Games that value experience and competitiveness will also resonate strongly with investors. Investors scrutinize the technology behind the games and the teams developing them. A key component to securing investment is showing that your game can stand the test of time. Building trust through transparent tokenomics and strong community engagement is essential.

Interoperability and cross-platform potential

Another promising direction for the GameFi business is interoperability, where assets are easily transmitted from one game, platform, or even a blockchain to the other. This cross-platform compatibility may change gaming at its core. E-sports leaders can also see a future where a sword attained in one game can be used in another or where a player can exchange in-game money in another game, creating an extra layer of the economy. This is exactly where blockchain technology is set up to advance the concept, and we are already witnessing the first attempts.

This will act as a major trend that will drive GameFi adoption around the world. Well, it’s no longer possible to provide games as stand-alone applications that work in isolation from other titles. People’s money should be protected and have a possibility of gaining value in other experiences, and the technology for this is already available. When web developers focus on ways to make games interoperable, they will be able to catch both the gamers and the investor’s attention and reveal completely new ways of monetizing.

Security and players’ trust

As GameFi continues to grow, security remains a critical concern. One of the biggest reasons why most web3 gaming projects failed after 2021 was the underlying security vulnerabilities. The decentralized nature of blockchain offers solutions to many of the traditional security problems that plague online gaming, such as fraud, hacking, and item theft. Blockchain’s immutable ledger ensures that assets are tied to players, not individual games, protecting player investments regardless of what happens to the game itself.

This ability to secure assets creates a trust-based ecosystem—a feature that will be crucial for mainstream adoption. Players need to feel confident that their in-game investments are safe, even if a game goes offline or a developer disbands. Blockchain’s security protocols, when implemented correctly, offer this peace of mind.

The road ahead

It’s evident now that, as an industry, we’re moving towards a future where web3 technology is a standard feature of most games. Mass adoption is inevitable, but it will require strategic investment, seamless integration, and a commitment to fun, accessible gameplay. 

New projects must understand that it isn’t just about earning a quick profit—it’s about creating immersive, engaging worlds where blockchain technology does not complicate the player experience. The key to unlocking this growth will be the industry’s ability to balance fun and accessibility while seamlessly integrating blockchain elements—an equilibrium that, once achieved, will usher in the next generation of gaming.

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SKALE Labs and Moxy partner to bring gasless technology to reward-based gaming

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SKALE Labs and Moxy, an esports and gamification platform, are partnering to reshape the gaming industry.

According to SKALE Labs, the collaboration marks a key milestone in bridging web2 and web3 gaming.

SKALE is a blockchain network that allows for scalable and user-centric decentralized applications across gaming, artificial intelligence, and other dApps. These applications leverage SKALE’s gas-free and fully Ethereum (ETH) virtual machine-compatible network to accelerate mass adoption.

With SKALE’s gasless blockchain going live on Moxy, the gaming space is set for transformation, changing how gamers earn rewards.

“By eliminating gas fees and harnessing SKALE’s high throughput infrastructure, we are setting a new standard for how gamers can earn rewards through gamification. We now have the potential to bridge the gap between casual and competitive gaming experiences, creating a seamless and rewarding experience for all users.”

Nolan Bushnell, co-founder of Moxy.

The platform recently bumped up its network’s speed and efficiency, with Pacifica V3 enhancing block mining speed and transaction throughput by 108% and 122% respectively. Moxy will leverage these network improvements to save up to $3.5 million in transaction fees for its users annually, according to the announcement.

Advancing web3 gaming

Moxy’s integration on the SKALE Network will enhance player engagement and improve reward and loyalty programs for games on the platform.

The partnership with SKALE adds to Moxy’s growing alliance and integration with key ecosystem players.

Recently, it teamed up with web3 rewards platform Metadomo to bring real world rewards to its gamers.  A partnership with in-game monetization app Overwolf has also added to its appeal to gamers eyeing competitive gaming and real rewards.

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Investing in MENA’s crypto future: Opportunities and challenges | Opinion

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With a tech-savvy population, progressive regulatory frameworks, and ambitious government-led initiatives, significant strides are being made across the Middle East when it comes to nurturing blockchain and crypto innovation. This year, I had the pleasure of attending the Satoshi Roundtable and the Token 2049 summit in Dubai, two flagship gatherings on the global web3 events circuit. In addition to showcasing the latest milestones and breakthroughs across the web3 landscape, the events served as a celebration of the region’s rapid ascension as a thriving hub of web3 activity, and the energy in the air was palpable.

In recent years, MENA has earned a stellar reputation for hosting high-quality events, attracting the best and brightest across web3. Since the launch of Lemniscap seven years ago, we have been actively identifying and backing pre-trend narratives and up-and-coming web3 solutions, both from an infrastructure and consumer layer perspective. 

The MENA region has presented exceptional investment avenues within emerging verticals, and as blockchain technology continues to evolve, the Middle East’s appetite for web3 growth will undoubtedly create a breeding ground for the most innovative and disruptive projects to thrive.

Phygital: The intersection of blockchain and physical assets

In my mind, one of the most intriguing investment plays in the Middle East is the ‘Phygital’ space, representing the confluence of blockchain technology with physical assets. This convergence has the potential to revolutionize industries such as real estate, art, and luxury goods—three sectors that are already booming across MENA. Blockchain’s immutable ledger and smart contract functionality provide a powerful framework for creating transparent and secure systems for managing and trading physical assets. For instance, tokenizing real estate on blockchain platforms allows for fractional ownership, making it easier for investors to buy and sell shares in high-value properties.

In a region where real estate investment is a major driver of wealth, particularly in countries like the UAE and Saudi Arabia, this is opening up a world of opportunities for smaller investors who may not have had access to such high-value assets previously. We’ve seen how the UAE’s real estate sector is benefiting from deployments of blockchain technology, with properties being bought and sold using Bitcoin (BTC), which provides international investors with a more seamless and transparent way to invest in MENA property markets. Additionally, by tokenizing art and collectibles, owners can secure proof of authenticity, trace provenance, and even trade portions of high-value pieces—not only democratizing access to valuable assets but also reducing fraud, a key concern in these markets.

While there is substantial upside to the Phygital space, the infrastructure for seamless integration between digital and physical assets is still evolving. Secure and verifiable connections between blockchain-based digital tokens and their corresponding physical assets are challenging to establish, requiring reliable tracking systems, such as IoT devices or RFID technology. Ambiguity around legal frameworks and regulatory standards for tokenized physical assets may also restrict growth in the short term, but once these issues are ironed out, the Phygital growth trajectory will be expansive.

Web3 gaming

Governments in countries across the MENA region are actively fostering innovation within the gaming sector, recognizing the ‘first mover’ opportunity to accommodate web3 gaming platforms, which are ascending in popularity. These platforms empower players with real ownership of in-game assets by utilizing NFTs and play-to-earn models. 

Dubai, in particular, has established its credentials as a leading hub for web3 gaming development, boosted by the recent launch of The Dubai Program for Gaming 2033—with a mandate to create 30,000 new jobs in the burgeoning sector. Gaming is one of the high-potential verticals in terms of crypto adoption among consumers, but it’s one of the most difficult ones to get right. Complex blockchain integrations, including slow transaction times, high gas fees, and difficult onboarding processes for non-crypto users, still hinder the overall web3 gaming experience. These barriers make it challenging for mainstream gamers to engage with web3 games, limiting adoption fully.

For example, high Ethereum transaction fees often deter in-game purchases or NFT trades, while complex wallet setups discourage casual users. However, with advancements such as Layer-2 scaling solutions and gasless transaction models, these issues can be resolved. Simplified onboarding through user-friendly wallets and seamless integration with blockchain infrastructure can significantly improve user experiences. Once these obstacles are overcome, web3 gaming can attract millions of players, unlocking massive opportunities for growth and player-owned economies. Looking ahead, we are excited to pursue exemplary investment opportunities that expand the realm of onchain gaming.

DePINs

Decentralized physical infrastructure networks represent another promising frontier for VCs surveying the web3 space across the Middle East, which is renowned for its vast energy resources, presenting unique opportunities for DePIN deployments—using blockchain technology to enable decentralized networks that support physical infrastructure. 

With many Middle Eastern countries, such as Saudi Arabia and the UAE, investing heavily in renewable energy to diversify away from oil, VCs have a timely opening to back projects that could redefine how energy is managed and distributed in the region. Last year, a branch of Abu Dhabi’s Advanced Technology Research Council introduced a new blockchain-powered carbon tracking and trading platform, enabling companies to offset their carbon footprints more effectively and transparently, so there is clear buy-in at the highest level for blockchain-centric sustainability measures to take hold.

While DePIN is demonstrating exceptional promise, the success of DePIN projects in MENA will depend on the region’s ability to build and maintain robust physical networks that can support decentralized applications, which requires significant investment in physical assets and technology. The cost of infrastructure development will be high, and projects may take years to mature fully, but the roadmap for success is there.

From a VC perspective, the Middle East offers a conveyor belt of highly attractive opportunities for targeted investments within the blockchain space. The replication of initiatives like the UAE’s Digital Government Strategy 2025 across the MENA region will go a long way towards promoting digital and blockchain integrations across core government departments, which, in turn, will have a ripple effect across the rest of the tech and investor ecosystem.

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The future of web3 gaming is not tap-to-earn—it’s Roblox | Opinion

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It’s no secret that web3 gaming has struggled to take off. However, if the web3 gaming-related sector wants to make its mark on the global entertainment market, it must focus on what makes it unique. Current trends such as tap-to-earn and other arcade-like models are far from that.

With blockchain technology, web3 game developers can create games designed for players with complete rights to their virtual goods. This is a gateway to new in-game economies and speaks to a new generation of players who use platforms like Roblox. 

These gamers are used to creating assets and making legitimate profits from them, where players can monetize their creativity in a dynamic and legitimate in-game economy. It is not uncommon for this group to see these games as lucrative full-time jobs. This is where web3 gaming can find its perfect fit.

History replays itself

Having the mature market of traditional video games as its competition—with a total value of $200 billion a year—seems like a daunting challenge for web3 gaming. However, this doesn’t necessarily mean that it’s completely defenseless.

This used to be the case for traditional video games, too, which 30 years ago were a niche next to the global movie industry. Today, they have outgrown this market by far, with the gaming industry reaching approximately $227.6 billion in 2023, compared to only $65.21 billion for global subscriptions to over-the-top video-streaming revenue. Games like Fortnite have an annual profit equivalent to half the world’s movie box office. 

The current state of things came about when a new generation of users better adapted to technological advancements emerged. Then, people witnessed the potential in the gaming niche, and businesses turned to this segment of the entertainment market. Can this be the case for web3 games in three or five years?

An economy in (and of) leisure

The number of video game enthusiasts continues to grow each year, and they are welcomed by new platforms with new business models. This is especially the case for younger generations, who are more likely to treat gaming as their primary leisure time activity and entertainment.

Children and teenagers have plenty of free time to spend on leisure. They can easily spend 10 to 12 hours a day “grinding” or gathering adequate gear in a video game. However, for adults, this free time shrinks in the face of responsibilities, including financial ones. Many games lose long-lasting players at this point in the life cycle of their products mainly because they weren’t designed to balance engaging gameplay with monetary incentives—this is precisely the challenge that web3 is uniquely equipped to address.

Would it be possible to play for a living and choose it as your career path? A few years back, this idea seemed ridiculous. Obviously, a few chosen ones could treat playing as a full-time job thanks to e-sport competitions or streamer revenues. For most, however, these doors would remain shut.

The Roblox model

However, if we look a bit closer at a few renowned, massive multiplayer web2 games, we find complete financial systems that can illuminate a different perspective. For over two decades, MMO RPGs like World of Warcraft or EVE Online have had players ready to pay real money for anything from leveling up characters to obtaining in-game currency used to buy coveted items. Many skilled players treat these activities as their main source of income.

No platform is a better example of in-game time capitalization than Roblox, however. We could even see it as a bridge between what happens in web2 and what would be possible with web3 models.

Being more of a social platform than a game, Roblox has provided its users with an experience based on community-created content. Roblox allows players to create their own assets and monetize these products by gaining “Robux,” its in-game currency. After reaching a certain level, they can choose to convert these coins into real currency. This is an economy mostly powered by creators, allowing both parties (the company and the players) to earn their share.

Lo and behold, Roblox’s MAU reaches 300 million players. The platform has become the leisure activity of choice for a whole generation of new gamers in the Gen Z demographic. It turns out that providing players with freedom and tangible (financial) rewards for their creativity does create an enormous amount of user engagement. Its model has created the right balance between financial incentives and good gameplay. 

However, Roblox is not a blockchain-based project. Players do not own their creations and are forced to pay significant fees to obtain profits. As developers indicate on their website, only 29% of the sold asset’s value is returned directly to its creator. The rest is distributed to cover platform expenses or goes to the game developers’ pockets.

Web3 can balance incentives with gameplay

It’s easy to see how adopting a model like Roblox to include the benefits of having a decentralized and permissionless onchain economy could be the logical next step in the evolution of gaming. This could start by allowing players to manage their in-game assets and go as far as designing new in-game economies.

From a web3 perspective, this approach could also be the solution to the lack of quality in web3 games today. A platform that gathers users by providing them with the right incentives would leave game developers to focus and compete solely on designing the best gameplay. 

Currently, most web3 games are in the stage of searching for their path or, in the worst of cases, only attracting users in search of a quick buck. It’s no secret that this is what drives the success of certain categories, such as play to earn and now tap to earn. This has been very unappealing to a whole generation of gamers who never saw gameplay mixed with financial incentives.

However, younger users who are raised on titles such as Roblox, Fortnite, or Albion Online have different expectations. They also seek quality entertainment and opportunities to socialize with other players, but financial components are already a part of the game for them.

That is precisely where the new path for web3 gaming must be laid. GenZ players are already used to economic mechanics, and the demand for the possibility of capitalization will increase as time goes by. They are in the middle of the road. All we have to do is design platforms that improve the overall quality of the experience, and web3 gaming may well be the birthplace of the next Roblox.

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DeFi

Injective eyes expansion into Web3 gaming with major partnership

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Injective, an interoperable Layer-1 blockchain for decentralized finance (DeFi) applications, is eyeing diversification into the nascent Web3 gaming ecosystem.

On Wednesday, Injective announced its partnership with DEGA, a top game builder platform that’s also deployed on Ethereum, Cardano and BNB Chain.

Injective, a provider of a platform for dApps across decentralized exchanges (DEXs), prediction markets, and lending protocols, will leverage DEGA’s ecosystem to launch its next phase of development via Web3 gaming.

With DEGA, game builders will be able to quickly design and publish games – a new era for GameFi, according to Injective.

The Web3 gaming market continues to witness significant growth, with future projections estimating expansion from .9 billion in 2023 to over 3 billion by 2033.

“DEGA and Injective share a lot in common when it comes to our vision for ease of use, financial inclusion, and artificial intelligence,” DEGA CEO Carlos Rene said in a statement. “We expect this integration to benefit all who participate in either of our ecosystems.”

Injective users to benefit from airdrops, tournaments

As well as expansion into the gaming sector, this partnership is also set to benefit Injective across several community initiatives. These include having Injective games on DEGA, airdrops (such as limited edition Elements & Characters) ambassador events and tournaments and X spaces.

DEGA has announced a reactivation of its “Great Benediction” to celebrate this integration. Per details shared in a blog post, the program returns on Wednesday, June 26 and expected to run until July 3, 2024.

Injective’s partnership with DEGA comes after the blockchain platform also revealed collaboration with Tria, a consumer-first actively validated services (AVS) layer-2 for abstracting gas and unifying liquidity from Web3.

According to an announcement, Tria’s launch on Injective helps to enhance user experience for dApps and users. Tria’s Unchained technology allows for complete gas abstraction as well as cross-chain liquidity unification, giving users more control over payments and assets.

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