Bridging the gap between the NFT and blockchain gaming spaces has been a persistent challenge for crypto enthusiasts and developers alike. Major NFT collections try to integrate utility and bring benefits to their holders. However, building a full-fledged game often lies outside of the budget capabilities for such projects. On the other hand, collectibles from gaming projects rarely reach the popularity and valuation that blue chip NFTs have. So the question remains: How can NFT collectors use their digital assets in other Web3 projects, specifically, active gaming platforms? One project has found the solution and is already attracting a solid …

MatchBoxDAO — a collective of developers, artists and designers building on-chain gaming infrastructure with StarkNet — has announced the launch of MatchBox Arena, an esports experience specifically designed for developer participation. Dubbing it the “World Cup of the Web3 companies,” the team said the gaming tournament is designed to find out which company has the best technical team. We are finally launching: "Matchbox Arena"✨ With the "Battle of Titans" as the first CTF competition released on the platform, we'll officially release "Matchbox Arena" tomorrow where the players will be able to upload their code.https://t.co/vGbEuyzus0 More info below — MatchboxDAO (@matchbox_dao) …

Ethereum layer-2 scaling solution Polygon, joined hands with Xternity, a Web3 gaming development platform, to migrate and onboard a multiplayer Web3 game — Synergy Land — to the Polygon network from Solana. As blockchain platforms, Solana focuses primarily on scalability and cost-cutting, while Polygon allows for seamless interaction with the Ethereum ecosystem. To help transfer Synergy Land’s resources onto the Ethereum Virtual Machine (EVM) chain, Xternity proposed a process — via its network migration tool — that can be used to migrate games or projects across chains. Speaking about Xternity’s goal to accelerate Web3 game development, co-founder and CEO Sagi …

2022 was a huge year for the play-to-earn (P2E) gaming scene. An influx of capital and users was followed by a sharp downturn in blockchain game token prices and a decrease in players — and the market is still reeling. And, with fallout from the FTX disaster reaching into every corner of the industry, play-to-earn’s prospects seem bleak on the surface. But peeking under the hood, the numbers tell a different story: Strong funding this year has set the stage for serious “buidling” in 2023. A consistent flow of strong raises for Web3 gaming studios has been silently infusing the …

While 2021 will primarily be remembered for the explosive price appreciation seen across crypto assets and NFTs, blockchain gaming also saw a rapid expansion in user adoption and blossomed into taking up more than 50% of all activity across the blockchain industry. Most of these Web3 games employ a play-to-earn (P2E) economic design where players are rewarded for their time, efforts, and in-game accomplishments. Combining the core gameplay with economic mechanics, most P2E Web3 games rely on rewarding gamers with in-game items in the form of NFTs or with the platform’s native tokens. This model, however, has proven to be …

YouTuber Logan Paul has unveiled a $1.5 million recovery plan for the people who invested in his beleaguered NFT project CryptoZoo. Announcing the move in a video shared via Twitter on Jan. 13, Paul reiterated that he is no longer looking to sue fellow YouTuber Coffeezilla for defamation over accusations he made in a critical series of videos on Paul’s NFT project. My 3-step plan for CryptoZoo, including a $1.3M rewards program for disappointed players. Thank you, @coffeebreak_YT pic.twitter.com/xFX017UHoc — Logan Paul (@LoganPaul) January 13, 2023 As such, Paul emphasized that he is instead focused on fixing CryptoZoo, delivering on …

Despite the bullying that gamers inflict on traditional gaming companies dipping their toes into nonfungible tokens (NFTs), executives working within the NFT gaming industry are hopeful that more traditional gaming firms will jump into the space this year. From mainstream gaming companies jumping in, to the relevance of NFT gaming models like play-to-earn (P2E) and move-to-earn (M2E), various industry professionals shared their insights on NFT gaming trends in 2023. Aleksander Larsen, the co-founder of Sky Mavis, the team behind the popular P2E game Axie Infinity, told Cointelegraph that it’s just a matter of time until more big players enter the …

The blockchain gaming industry is experiencing a "massive shift," with the once-popular play-to-earn (P2E) model falling out of favor and focus directed now at improving gameplay experience, a new survey has found. The survey results were included in a newly released annual report from the Blockchain Game Alliance (BGA) on Jan. 12, which was conducted with 347 professionals, representing 252 different projects or companies in the blockchain sector. Most of the respondents were young adult males working for blockchain gaming companies in middle and top management positions, according to BGA. One of the trends gleaned from the report was an …

'Degen' season smells like pixelated feet Feetpix.wtf’s newly launched nonfungible token (NFT) collection, “Feetpix” has seemingly taken the NFT community by storm with surging trading volumes, prompting some to suggest the return of “degen” season. Feetpix.wtf’s collection soared ahead of the likes of Bored Ape Yacht Club (BAYC) on Jan. 11 with the fifth-highest trading volume recorded on NFT marketplace OpenSea. The project — which released 10,000 Feetpix NFTs — has traded over 825 Ether (ETH)($1,157,000) across nearly 18,000 transactions since its release on Jan. 8. Crypto Twitter is still split on what inspired the surge in foot fetish-NFT trading …

When Axie Infinity launched in 2018, play-to-earn gaming became a sensation. The game turned into a viable source of additional funds for numerous low-income families in the Philippines. However, as Axie Infinity grew and took over the global blockchain-gaming space, the rewards ratio quickly started dwindling. The main reason for this significant cut in returns for players hides in the design of the game itself. One of the major challenges play-to-earn projects face is creating a self-sustainable in-game economy. Currently, most P2E games start out strong and offer lucrative rewards to players. However, increased in-game token issuing, as more players …

In this week’s newsletter, read about how the metaverse may integrate touch and smell. Check out how the nonfungible token (NFT) project Moonbirds plans to become a global brand and how NFT marketplace Magic Eden will refund users affected by a recent exploit. In other news, find out how NFT image hosting issues can be resolved, according to executives within the NFT space. And don’t forget this week’s Nifty News featuring a warning to gamers about a fake Pokemon NFT game spreading malware. Touch and smell become the next big thing for the metaverse at CES 2023 One of the …

If 2022 was any kind of template for gauging what the crypto market might offer for investors going forward, it proved to be terribly difficult to predict. The space saw a brutal shock to the global crypto market capitalization, which fell just over 60% from $2.2 trillion to about $797 billion year to date. It also saw the two largest cryptocurrencies by market cap, BTC and ETH, fall by 64% and 67%, respectively, during the same time frame, with the concurrent slide in the alt market too. These price drops, combined with the demise of the FTX exchange, were not …