Daily Insights: Updates on Crypto, Blockchain, NFTs, Web3, and Play-to-Earn Gaming

Sony Game Developers and Ex-EA Developers Comprise Avalon Corp TeamAvalon Corp.'s Digital Universe receives $13 million in funding to launch an AAA project in the Web3, metaverse, and blockchain gamingThe world is molding itself towards the crypto universe for investments as well as the future. Big companies are getting interested in blockchain and metaverse or AAA multiverse and looking for different ways to be a part of it. In a similar effort, Bitkraft Ventures has raised $13 million in funding along with other companies to fund Avalon Corp, a Web3 gaming startup working on Avalon universe. The companies included are Hashed, Delphi Digital, Mechanism Capital, Coinbase Ventures, and others. The round also received funding from some angel investors, including former Microsoft executive Charlie Songhurst and Twitch co-founder Kevin Lin.The big news is their team of developers, has worked in huge tech companies like Electronic Arts, Microsoft, Blizzard, and Sony. The studio's first game will be Avalon, which runs on Unreal Engine 5 and has some MMO and Web3 metaverse elements. However, CEO of Avalon Corp Sean Pinnock and Chief Product Officer Jeffrey Butler told Decrypt in an interview that they don't perceive Avalon as a metaverse. The main reason for the reluctance is how the term has been taken and misapplied in the digital world.Butler remarked of the term "metaverse" that "everyone's kind of leaping onto this word and just pounding the poor word to death," adding that practically every big brand, whether they be a fast food chain or fashion industry, has somehow associated themselves with the creation of their own metaverse.

The Major Rugby League MLR and OVAL3 partnership will bring a unique fantasy NFT game, a valuable addition to Web3 and blockchain gaming.Major Rugby League fans will get their hands on an exclusive Fantasy NFT game using blockchain technology. The official announcement came from OVAL3, a renowned name in Web3 and fantasy sports games, especially rugby. As for MLR, it is a top league in North America, and it recently entered its sixth season last month. OVAL3 intends to offer top-tier blockchain immersive experiences and Web 3.0 engagement to the expanding North American rugby fanbase. It aims to achieve it through the procurement of MLR's exclusive NFT and Fantasy licenses. NFTs are now making a solid transition from profile pictures to in-game valuable assets. MLR has witnessed progress in all major metrics since 2017, consistently captivating new fans to the sport every year. The U.S. securing the 2031 (Men’s) and 2033 (Women’s) Rugby World Cups hosting will result in unparalleled North American focus on the sport in the upcoming years. This is where Oval 3 pledges to provide long-term support to MLR and its followers. Leveraging its fantasy rugby background from global operations, particularly with the Ligue Nationale de Rugby, OVAL3 plans to develop MLR's inaugural official fantasy game. This one-of-a-kind and captivating game will connect rugby with NFTs. Additionally, it will also tackle contemporary gaming codes using a Play & Own approach. It will provide a distinctive and immersive experience for both rugby enthusiasts and gamers.

In a recent episode of Decrypt's gm podcast, Polygon Labs' President Ryan Wyatt shares his insights on the future of Web3 blockchain games. He believes gamers will eventually adopt Web3 adaptations, driven by improved gameplay and true digital ownership through NFTs. Despite initial skepticism and challenges, Wyatt emphasizes that gamers, being tech-savvy, are likely to embrace these innovations as technological barriers decrease. He discusses the potential of NFTs to revolutionize digital property rights in gaming, allowing players to buy, sell, and trade in-game assets freely. Wyatt also highlights the need for developers to create engaging and sustainable Web3 gaming experiences. As blockchain technology evolves, Web3 games might simplify the user experience and integrate seamlessly with traditional gaming models. Dive into Wyatt's vision for the future of gaming, where Web3 and NFT gaming are set to transform the industry.

After selling the Dookey Dash Key NFT, Mongraal, the winner of Yuga Labs' Dookey Dash NFT game competition, received 1000 ETH.

Companies involved in blockchain and cryptocurrencies are thinking about changing the names of concepts like crypto, NFT, blockchain, Web3. Web3, Blockchain and NFT Projects are urging to Stop Calling it Crypto as it has become “Old school."Big companies are abandoning terms like NFTs and Web3, partly due to the bad name and bear market. Words and names have had huge importance in commerce and the economy since the inception of the crypto market. There was a time when companies used to add the “blockchain” word to their names and would see their valuations skyrocket. But now these terms have turned into toxic words, and people are trying to distance themselves from them. If you are looking for NFTs on social media, you will have to search for “digital collectibles” instead of NFTs; otherwise, you might never find one.Brynly Llyr, head of blockchain and digital assets of the World Economic Forum, recently suggested that the crypto market should renounce old names. And instead, rebrand itself as “decentralized systems.” If you think about it, it’s not that bad of an idea at all, as these terms and jargon have turned into a safe haven for all the digital pirates. A big Bitcoin mining company, known as Riot Blockchain, has recently rebranded itself and is now called Riot Platforms. Sounds funny, right?

Trip Hawkins joins Games for a Living GFAL to work on NFT games, starting with Elemental Raiders.Two of the gaming industry’s top veterans have joined hands to work on NFT games. Recently, the founder of Electronic Arts gaming studio, Trip Hawkins, joined Games for a Living video gaming studio. Along with Trip Hawkins, Manel Sort the VP at Candy Crush Saga developer King is also in this project. The team will start with Elemental Raiders which is already available in a free-to-play version on Steam. However, in March, the game will introduce NFT, token elements, and a battle pass. The studio plans to roll out its own token; Games for a Living token. Despite the slump in crypto and challenges in Web3, we are seeing industry veterans exploring the niche. Trip Hawkins, the original founder and CEO of Electronic Arts (EA), is the latest addition to the list of famed video game industry legends. Similar legends of the gaming industry are flocking to the crypto world. Another example includes developers such as Will Wright and Peter Molyneux. These developers are currently working on NFT-based games.A couple of days ago, Hawkins was announced as the co-founder and chief strategy officer of Games for a Living. GFAL is a startup that focuses on creating games using NFTs and blockchain-based tokens. Manel Sort, the former first vice president at King, the developer of Candy Crush Saga, is one of the co-founders of Games for a Living. He teamed up with Hawkins, his former colleague from the mobile gaming startup Digital Chocolate, to create this new venture.

Blockchain Gaming Takes Off in February: Ubisoft Launches Rabbids NFTs, and Wallet-Free Gaming Is Now a Reality! February continues to see plenty of blockchain gaming activity. We have new in-game content, NFT airdrops, beta testing, new partnerships, ease of access, and many more. The biggest news is that Ubisoft is still making progress in Web3, having launched its Rabbids NFTs on the Sandbox. Moreover, we have super news for gamers that do not want to indulge in any digital wallets: Champions Ascension goes wallet-free. Top blockchain game Gods Unchained launches its pre-alpha mobile test, Genopets adds minigames, and Planet IX brings new in-game drops. Let’s check out these blockchain gaming developments in detail.

Blur dominates the NFT marketplace and OpenSea trials; this article checks some of the facts and happenings in the Web3 NFT industry 2024. The hype was real surrounding the airdrop, as Blur has dominated OpenSea's NFT trading volume. According to Dune Analytics statistics, the marketplace had a volume of $601 million over the past seven days compared to the $104 million of OpenSea. These numbers correspond to Blur Marketplace controlling an 85.2% market share compared to OpenSea's 14.8%.Daily volume numbers are also evident in this comparison. According to DappRadar statistics, Blur achieved a trading volume of $98.6 million in the last 24 hours. While OpenSea, in second position, only managed $17.92 million. Additionally, compared to OpenSea, its daily average transaction price has consistently been greater.It's important to note that Blur has designed its incentives strategy to avoid rewarding volume in order to discourage wash trading. By tweaking its royalties reward structure, the market has attempted to bypass OpenSea's constrictive approach. This policy change is a defensive measure designed to safeguard its survival as it was forced to make this decision as a result of OpenSea's non-competitive position. Blur and OpenSea do not pay royalties to the same creator on both platforms.

Yield Guild Games (YGG) is pioneering the intersection of blockchain technology and gaming, marking a significant evolution in the digital world. This innovative platform transforms the traditional gaming experience by leveraging the play-to-earn model, where players are not just participants but also stakeholders in a decentralized ecosystem. YGG provides gamers with opportunities to earn through blockchain-based games, fostering a community where skills, participation, and contributions are valued and rewarded. By offering access to a wide range of games and digital assets, YGG is not just a gaming guild; it's a gateway to financial empowerment and a deeper understanding of Web3 technologies. Its unique approach includes the use of NFTs to represent membership and achievements, creating a transparent and verifiable digital identity for its members. YGG is at the forefront of creating sustainable gaming economies, promoting inclusivity, and shaping the future of gaming in the Web3 era.

NFTs are in the news once again with Spotify and the NBA making use of them in their respective Web3 projects; read more about this! NFTs (non-fungible Tokens) are making a huge comeback after a brief (and unexpected) fall in their popularity graph. With the recent buzz around NFTs, on-chain development, and the latest developments in the sector, almost every major sector is making efforts to be some kind of part of it. Some huge brands, including Spotify and the NBA, are pursuing and investing in NFTs. Here are some of the latest developments going on in the NFT sector: Spotify has been a huge revelation in the field of the music industry. Their business ideas and marketing strategies have been second to none. After finding huge success in the conventional music industry, they have now turned their attention to the world of NFTs. On Wednesday, Spotify acknowledged a new integration on its music platform. It includes music playlists with token functionality that only a small group of users can access. Token holders will access the community playlists created and curated by the participating NFT organizations and communities. In order to achieve the objectives, they have joined forces with some big Metaverse groups, including Overlord and Kingship.

Azra Games has secured significant funding to pursue its Web3 plans and its upcoming NFT game, Legions & Legends. Learn more about it!

The Appchain thesis offers distinctive solutions to two of the most significant issues faced by Web3 and blockchain gaming developers. Learn more.

With the recent launch of its Rabbids NFT Avatars in the blockchain game The Sandbox, Ubisoft is back in Web3 with a bang, learn more.

According to DappRadar on January 23, video gaming activity accounts for nearly half of all blockchain activity; read on for more interesting facts.

The partnership between India’s Loco and Avalanche will create esports and streaming services using Avalanche’s blockchain technology