FTX

Animoca Capital, Stripe Taking Cryptocurrencies, Music Industry & Party-to-Earn, And More Web 3.0!

Animoca Capital, Stripe Taking Cryptocurrencies, Music Industry & Party-to-Earn, And More Web 3.0!

A lot has happened lately in Web 3.0, which shows progress and intent as well as growth after the FTX incident. With 2022 drawing to a close, several games are coming up with updates and launches to make your holidays worthwhile. We will discuss these updates and launches for games like Mojo Meele, Cryowar, Colonize Mars, and Treeverse. Also, War Park is ready to come forward with its first community preview, and Mist is going for its pre-alpha test.

On the business side of the Web 3.0 industry, we have Animoca Brands launching Animoca Capital. Moreover, Swords of Blood landed hefty funding, Splinterlands thought outside the box, the multi-billion dollar music industry embraced Web 3.0 as in something like Party-To-Earn, Play-to-Earn games changed dynamics, Fenix Games raised $150 million, and Stripe took cryptocurrencies on board. 9GAG and their metaverse, and Battle of Guardians.

We have all of the latest updates for you in one place; stay up to date and read the full stories below to find out what’s new in the crypto industry.

Animoca Brands Sets Up Animoca Capital

Animoca Brands has set up a $2 billion fund at Animoca Capital. Animoca Brands is a huge name in the gaming industry and acts as a gaming investment firm in Web 3.0. Some of the Web 3.0 games with Animoca Brands’ investment are The Sandbox, Alien Worlds, Axie Infinity, and Decentraland. Its newest venture, Animoca Capital, is a metaverse fund that will invest in metaverse projects starting in 2023. So, we may expect growth in metaverse projects, especially in Asia, next year.

Stripe takes Cryptocurrencies on Board

Next, we have Stripe, a famous global online payment processing company that takes cryptocurrencies on board by introducing a fiat-to-crypto on-ramp. By putting out a widget that can be directly embedded on different Defi platforms, the company will make it possible for its customers to exchange USD for cryptocurrencies. This will make Defi more accessible and help it reach Web 2.0 users, which is especially important now that the centralized Defi exchange, FTX, has shut down.

Nowadays, a common way to on-ramp fiat to crypto is to buy cryptocurrency from centralized exchanges like Kraken, Binance, and Coinbase and then transfer it to a third-party wallet. This method has failed to impress mainstream users so far. Also, developers have to deal with fraud and the need to follow complicated KYC requirements. This is where Stripe comes in and offers solutions to tasks related to KYC, payments, fraud, and compliance. Stripe’s services will start in the US initially and gradually move to other countries.

Electronic Music Welcomes Party-to-Earn

The electronic music industry is about to get a restoration like never before. There is a blockchain crypto project designed specifically for clubbers, festival goers, and electronic music fans. The project is known as Kulbcoin, and it is one of a kind in the crypto industry as well as the electronic music industry. It wants to make a cryptocurrency that everyone in the electronic music world can use. The cryptocurrency will help fans earn rewards like VIP access to events, meet and greets with famous DJs and music artists, and more.

Klubcoin will employ a new business model called Party to Earn. This model, like the play to earn model for games, will aid in the decentralization of music and festival events. Klubcoin will help bring down exorbitant entry barriers like sold-out, costly tickets. Take, for example, the recent Tomorrowland 2022 music festival. The base ticket for Tomorrowland 2022 was $280, and the same goes for other festivals and concerts. This practice destroyed the spirit and roots of electronic music, which people of all ages and groups gather to enjoy.

So, Klubcoin steps in to even the playing field by letting fans buy tickets to events that are sold out at reasonable prices. It will also give discounts on food and drinks and give people access to Klubcoin parties and meetups. Klubcoin also plans to bring fans, creators, and artists onto the same platform. This will give people who make music a chance to reach more people and connect directly with their fans.

Play to Earn Games Recent Updates and Launches

Swords of Blood, a one-of-a-kind, fast-paced hack-and-slash crypto game, received $1.6 million in funding. The MMORPG blockchain NFT game is a free-to-play game with AAA elements running on the Polygon network. Check out the game’s review here.

Splinterlands’ in-game market gets a new update that lets players trade things other than cards. This is a welcome change. This will help the non-card market flourish; these items may include totems, titles, packs, land plot claims, and more.

As for other games, we have “Colonize Mars” planning to launch its closed beta sometime next week. The closed beta will give players an early look at how the game works and let them give feedback to the developers. Moreover, the closed beta will offer a first look at the game, where building, maintaining, and running a colony on Mars will come into effect. The game’s closed beta will continue until the first quarter of 2023.

We also have Mist moving forward with its game and opening the next phase of its pre-alpha. This stage is only available to players who have Tier 3+ items or a large number of MIST tokens. So, if you don’t have game NFTs or tokens, then you shall wait a little bit longer.

Another game going for a test run is War Park, a MOBA based on tanks like Spider Tanks. The developers decide to run a simulation test between the 16th and 18th of December. War Park announces a playtest for its community, and everyone can take part in it. The game will let you feel the nostalgia of WWI and WWII as it uses historical tanks instead of futuristic ones.

The last game is Farming Tales, which has a new update that adds a new town to the metaverse called New Waxchester. And if you are into Cryowar, then register for its open beta access and experience intense PvP and PvE battles.

As for some other news from this past week:

“Battle of Guardians“: A PvP Fighting Blockchain NFT Game that Will Break the Fighting Game Genre. Battle of Guardians uses the Unreal Engine and is powered by Solana Network. This game is a treat for fighting genre gamers who play games like Tekken, Mortal Kombat, Street Fighter, and more. However, the catch here is that “Battle of Guardians” offers several rewards to its players that have real-world value. So, the grinding and practicing in Battle of Guardians are worthwhile. Moreover, players engage in multi-dimensional, multi-realm battles in an expansive open world.

“9GAG” embraces Web3 and announces Memeland, an upcoming metaverse project. A new metaverse project is officially on the cards, and a renowned team is ready to take the leap. We all may have come across or known 9GAG at some point in our lives. For those of you who don’t know 9GAG, it is a social platform where people share funny stuff in the form of memes and get upvotes from the community. The platform was started way back in 2008 and now enjoys an audience of more than 200 million. This popular social platform is known for meme creation, meme sharing, and, most importantly, making people laugh. The same team, with millions of viewers, is now launching its own metaverse project, the Memeland. Memeland is a web-focused venture studio. The mantra, however, remains the same: connect the creators and the community with the addition of NFTs and MEME.

Web3 gaming keeps getting better because new projects keep getting money and investmentsFenix Games has raised $150 million to start a new blockchain game publisher that will be different from the others. The company plans to launch a publisher as well as a platform for blockchain games that will help these games hit the market. Fenix Games plans to invest in, buy, and publish blockchain games that already exist and those that will be made in the future.

Solana Suffers from FTX Fallout, Sony Files Patent Involving NFTs, and More

Solana Suffers from FTX Fallout, Sony Files Patent Involving NFTs, and More

In this newsletter, I will cover the impact of FTX fallout on blockchain games. Moreover, we will also cover significant partnerships in the Web3 gaming domain, how Avalanche Gamefi projects are performing, what Sony’s newest patent says about its Web3 direction, and how one of the biggest retailers in the gaming world embraces NFTs. Lastly, how is Gamestop working with Immutable X?

So let’s start, and I hope you do enjoy reading it and that I shed some light on last week’s affairs.

  • FTX collapse and fallout The Solana Blockchain is imploding.
  • Cryptomon forms an alliance with Unstoppable Domains
  • Avalanche and its solid run in gamefi space
  • Sony files a patent for digital asset tracking in video games.
  • Gamestop NFT marketplace
  • Harmony collaborates with Game Space

FTX’s collapse and its fallout on Solana

Blockchain and play-to-earn games on the Solana blockchain are the newest victims of the FTX fallout. Solana’s token, as well as tokens from games like Star Atlas and Aurory, all perished. Aurory’s in-game token has suffered more than 70% damage since the start of the week. As for Star Atlas, its token fell more than 36%. When compared to SOL tokens, SOL suffered a loss of 56%. Some of the other names on the Solana blockchain, like Mini Royale Nations and Panzerdogs, have yet to release tokens.

Earlier, FTX CEO Sam Bankman-Fried pledged $100 million in gaming projects on the Solana blockchain. However, FTX suffered an implosion in the first week of November as the FTX token price declined. Consequently, it was unearthed that FTX had $9 billion in liabilities and only $900 million in liquid assets.

Apart from the Solana debacle, blockchain games are largely showing a decrease in trading volumes in the last seven days. This decrease includes major games like DeFi Kingdoms, The Sandbox, and Axie Infinity.

Nice read is also ; “A Promising RPG Blockchain NFT Crypto Game Called Defi Kingdoms.” Or this article “You Did Not Play The Sandbox? You Should!”

New Partnerships in Web3 Space

In other news, NFT-powered Metaverse games developer Cyrptomon enters into a partnership with Unstoppable Domains, a Web3 domain provider. This partnership will provide Cryptomon NFT holders with a verification badge. These badges will show up on their Unstoppable Domain profiles. Moreover, the partnership will also secure the user’s Web3 identity along with providing them with unique NFT domains in the future with the suffixes “.kryptomon” and “.kmon.”

In another partnership, Harmony joins hands with Game Space, which will pave the way for traditional Web-2 companies to transition to Web-3. The strategic partnership will considerably reduce the time and cost of on-chain game development. Harmony is a proof-of-stake blockchain company, while Game Space is a one-stop gamefi platform.

Avalanche’s Stable Run in Gamefi Space

The gamefi segment is one Web3 domain that is growing at breakneck speed, and Avalanche is riding the wave. Earlier this week, Avalanche shared a progress report showing growth volume on its gamefi projects. The leading project is Province, with a super growth rate of more than 1481%. The least growth volume also shows a formidable increase of 7.77%. The key takeaway here is that the gamefi segment is enjoying a soaring growth rate. As for its token, AVAX, it experienced a decrease after showing signs of recovery earlier this week. The recovery gains vanished due to the continuous bearish trend during the weekend. So, the AVAX token is still in its lower range at $12.90.

Sony Applies for a Patent to Track In-Game Assets

Big players continue to show interest in the Web3 domain, with Sony getting into the news once again after the previous week. This time, Sony files for a patent that will allow gamers to own unique digital assets and in-game collectibles. The patent was filed in 2021 for a system that tracks digital assets powered by blockchain technology. The patent went public last week. Sony plans to keep a record using blockchain ledgers of digital media assets, gameplay, and video clips of memorable moments with a unique token. The patent filing shows that the multinational technology conglomerate is interested in the Web3 domain, especially NFTs in blockchain games.

Gamestop NFT Marketplace

Another big name in traditional gaming enters Web3 with the official launch of its NFT marketplace. GameStop, the largest video game retailer in the world, joined forces with Immutable X to launch its NFT marketplace on the Immutable blockchain platform. It will use a Layer 2 blockchain solution that does 100% gas-free and carbon-neutral minting. Both Gamestop and Immutable X have also launched a $100 million grant for creators of Web3 games. The partnership will integrate the blockchain games that are on Immutable X into the Gamestop NFT marketplace for easier management.