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Non-fungible tokens (NFTs) have become a game-changing technology in the gaming industry, enabling a new era of play-to-earn mechanics and decentralized ownership. NFTs are unique digital assets that represent ownership or proof of authenticity of in-game items, characters, or skins. In traditional gaming, players do not truly own the items they purchase, as they are controlled by the game developers. NFTs, however, allow players to truly own their in-game assets, which can be bought, sold, or traded on blockchain-based marketplaces. Play-to-earn games are a key feature of this new landscape. In these games, players can earn NFTs by completing tasks, leveling up, or participating in gameplay. These NFTs can have real-world value, which creates opportunities for players to generate income. For instance, some players have made substantial profits by trading rare in-game items or characters in NFT marketplaces. The introduction of NFTs also fosters a deeper connection between players and ...

A new report from the Blockchain Gaming Alliance reveals an optimistic future for the web3 gaming industry and a concerning gender imbalance among players. On Dec. 13, 2023, the Blockchain Gaming Alliance (BGA) shared its annual State of the Industry Report with crypto.news. It is an online survey designed to put a finger on the pulse of the fledgling blockchain gaming sector. While the report delved into many areas, key takeaways included nearly 80% of respondents sharing their belief that they will continue in the industry over the next year. It also revealed a worrying statistic: females made up only 16.9% of participants in the sector. The BGA report also showed that over 76% of blockchain gamers recognized asset ownership as a top benefit of web3 games. In comparison, nearly 38% predicted that traditional web2 game studios would drive the industry forward. A further 52.1% said they expected at least 20% of the gaming industry to adopt blockchain in some form. In terms of cha...

Three gaming executives believe mainstream audiences will play a factor in the overall success and future of Web3 games. Web3 game developers have been battling to gain the attention of mainstream audiences for years, and according to three former gaming executives, that market is essential for the industry’s future.  Video games have become a favorite pastime for a lot of people all over the world and have even evolved into a sport. Overall, there are more than three billion Web2 gamers worldwide as of 2023, according to Exploding Topics. Most are considered casual gamers who play regularly but rarely invest significant time. Jennifer Poulson, who has worked in the gaming industry for 18 years, including at Web2 gaming companies Bandai Namco (Tekken, Elden Ring, PacMan) and Riot Games (League of Legends), believes mainstream audiences are “absolutely” important for the future of Web3 games. Speaking to Cointelegraph, Poulson, who is currently vice president of game partnerships at ...

Decentralized exchange PancakeSwap recently launched a gaming marketplace , blending web3 elements like cryptocurrencies and NFTs with traditional gaming , marking a significant shift in the intersection of digital finance and entertainment. PancakeSwap, a prominent player in the decentralized exchange (DEX) arena, recently expanded its offerings by launching a gaming marketplace. This move shows a significant stride in integrating web3 elements like cryptocurrencies and NFTs into gaming. However, the implications of this integration warrant a critical examination. Introducing the PancakeSwap Gaming Marketplace – a GameFi Revolution with 1.5 Million potential players! Featuring games like Pancake Protectors & Pancake Mayor A dynamic hub for gamers & developers ️ Play, build, & connect in a world of endless possibilities!… pic.twitter.com/jy0Hi0OV7X — PancakeSwapEveryone's Favorite DEX (@PancakeSwap) November 15, 2023 The marketplace’s design allows ...

The company claims a cast of employees whose collective entertainment industry resume contains titles such as Halo, Call of Duty, and Westworld. Web3 gaming developer Neon Machine raised $20 million in series A funding toward the development of its highly-anticipated extraction shooter “Shrapnel.”  This round follows a $10.5 million seed round completed in June of 2021. It was led by Polychain Capital and included funding from Griffin Gaming Partners, Brevan Howard Digital, Franklin Templeton, IOSG Ventures, and Tess Ventures. Shrapnel is an ambitious gaming project touted by Neon Machine as a “AAA game” — a non-standard designation used to indicate a video game with top-tier production value, budgeting, and marketing. According to gameplay footage shown on Neon Machine’s YouTube page and documentation on the game’s website, Shrapnel is a first-person perspective shooter (FPS) featuring multiplayer components. Competition in the game — which currently has yet to enter pre-alpha testin...

As the esports market continues to grow, Moxy emerges as a promising platform that emphasizes availability to all levels of gamers, real-world utility and skill-based competition. The esports market is expected to grow at a significant rate, from $1.42 billion in 2022 to a massive $4.47 billion in 2030. Its growth will be driven by the increasing use of smart devices, along with the growing accessibility of internet connectivity, the continued popularity of streaming services and the support of major brands. However, some challenges that esports has experienced in the past still exist, such as limited diversity and inclusivity, lack of proper infrastructure, or a gap between casual gamers and the competitive esports scene. While the eSports industry’s projected revenue by 2030 nears 4.47 billion USD, the video game industry is projected to reach 589.69 billon USD. Moxy aims to make the overlap between these two industries possible, and bring esports to the majority of video gamers. “W...