Hello Kayros Play-to-Earn Nation!
This has been another big week for Web3 gaming. Lots of things happened in the GameFi and Web3 space.
But don’t worry! You will not miss anything! We have collected all the important GameFi news for you.
Enjoy the reading and as always let’s drive the GameFi revolution together.
Axie Infinity launches mini-game Raylights
Axie Infinity, one of the flagship platforms of the 2021 GameFi euphoria, bets big on in-browser games: enthusiasts can try its latest title without installing an app. According to the official announcement shared by Axie Infinity on its social media channels, Raylights, its pioneering "lightweight" land game, is up and running on the mainnet. (link)
Walken P2E platform releases Walken Runner game
The upcoming Walken Runner is the first on-chain gaming title to be released under the Walken umbrella. It is designed to introduce Web3 games to a new generation of enthusiasts and e-sports professionals. According to the official announcement shared by the Walken application team, it is releasing Walken Runner, a blockchain-based game with elements of GameFi, RPG, and metaverses. (link)
Microsoft is building an Xbox mobile gaming store to take on Apple and Google
- Microsoft laid out its plans to create an Xbox Mobile store, Xbox Mobile Platform, which will compete with the Google Play Store and Apple Store
- Microsoft is committing to a set of principles that would allow developers to freely run their own app stores on its Xbox Mobile Platform and offer their own payment systems to process in-app purchases. (link)
Sims creator is developing a blockchain game
Will Wright, best known for creating The Sims is developing a blockchain game that will use cryptocurrency and NFTs. VoxVerse, which has received $25 million in funding so far, appears to be a metaverse game that allows players to buy in-game land and items on the blockchain, although Wright seems eager to avoid solely attracting the NFT community. (link)
Company documents show Meta’s Flagship Metaverse falling short
According to a WSJ report, Meta’s internal documents show that the company’s metaverse experience, Horizon, is being challenged with glitchy technology, uninterested users, and a lack of clarity about development plans. Remember that the company announced last month that it would be locking down Horizon to fix some of the critical issues the product is facing. More details are below:
- The company initially planned to have 500k active users by the end of the year but has since revised this target to 280k users (200k currently)
- Most visitors to Horizon don’t return after the first month
- Only 9% of worlds built by creators are ever visited by at least 50 people (most worlds are never visited at all)
- Meta’s VP of Metaverse, Vishal Shah put out a good quote that will resonate with Web3 developers at Meta and beyond: “I want to be clear on this point. We are working on a product that has not found product market fit. If you are on Horizon, I need you to fully embrace ambiguity and change.” (link)
Ready Player Me launches Avatar API - an advancement In metaverse interoperability
Estonian company Ready Player Me recently launched a fundamental feature of Web3 the concept of interoperability, wherein users can seamlessly leverage their avatars and other digital assets across an array of different platforms and ecosystems. (link)
Indian eCommerce company Flipkart has launched its metaverse shopping experience, Flipverse.
These “gamified, interactive, and immersive” experiences will let customers collect Flipkart loyalty points as they purchase items. Flipverse is the product of a partnership with Polygon-incubated firm eDAO and is currently in its pilot stage. (link)
Taylor Swift Is extremely close to creating a true metaverse
Taylor Swift has released a new album called Midnights. To call what Swift is doing with this album release “online savvy” “audience engagement” or “marketing” is to undersell it. She has, in a way, creating a virtual universe in which fans can experience the launch. (link)
NFT Marketplace Magic Eden Moves to Optional Royalty Model
Solana’s top NFT marketplace is the latest platform to switch to a no-fee model, following in the controversial trend set by X2Y2 and others. (link)
Web3 infrastructure firm ChainSafe raises $18.75M as attention shifts to GameFi
Canadian Web3 infrastructure company ChainSafe has closed an $18.75 million funding round that was backed by prominent industry venture firms, putting the company on track to expand operations at a time when the demand for blockchain infrastructure and gaming services is on the rise. (link)
Tilia spins out, gets minority investment from J.P. Morgan to do metaverse payments
Tilia, the all-in-one payments platform created for Second Life, has spun out of Linden Lab and raised a minority investment from J.P. Morgan Payments.
Tilia has been fueling commerce in Second Life, which generated $86M in payments over the last 12 months (link)
Market Data and Reports
The Metaverse market size is expected to hit US$426.9 billion by 2027
The metaverse is a smooth convergence of digital and physical lives, creating a virtual, unified community where people can play, work, transact, socialize, and relax. The global Metaverse market is anticipated to hit US$426.9 Billion by 2027 from US$61.8 Billion in 2022 at a CAGR of 47.2%. The metaverse can impact everything from customer experience to employee engagement, community building, product innovation, and omnichannel marketing and sales. Examining its effect potentially should be a factor for strategic discussions, with leaders intensifying their analysis of how this metaverse could fuel this virtual world within the coming years. (link)
Japan is losing its place as the world's gaming capital because of crypto hostility
From regulation to taxation, Japan has been hostile to cryptocurrency gaming. That stance is threatening the country's position as a global leader in gaming. (link)
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