GameFi's constantly evolving model could make "today's AAA game companies look like peanuts", said Jack O’Holleran, CEO of Skale a multichain Ethereum native network that powers Web3 games. In fact, blockchain-based games and metaverse projects are showing resilience amid a winter that has dragged down many players in the crypto industry, with $1.3 billion raised in the last quarter, as reported by DappRadar. Finding a sustainable GameFi model, however, remains a challenge. User experience ranks amid the top struggles in the industry, mainly because of gas fees and the complexity of buying, owning and trading NFTs. "Charging users fees every …

The emergence of Web3 technologies has brought Web2-based companies to consider amendments to their current products and services. Many leading brands are using Web3 technologies such as nonfungible tokens (NFTs) to promote their brand as well as show their affiliation with emerging tech. Social media is another domain where Web3 seems to have the biggest impact. Facebook rebranded to Meta and has shifted its whole focus from being a social media platform to becoming the future gateway of the metaverse. Meta-owned Instagram announced it would add NFT minting and trading services within the app. Reddit, another prominent social media platform, …

Portugal’s capital city of Lisbon has established itself as the spiritual home of one of the world’s largest technology events. Web Summit has called the Altice Arena home since 2016 and attracted a staggering 71,000 people in the latest edition of the conference. The effect of the event on the city was palpable. An estimated 540,000 people call Portugal’s captivating, hilly capital home and the influx of attendees from around the globe made for a busy week on its smaller cobbled streets and busier roads. It is not surprising that the event is a focal point for the city, which …

Early in 2021, markets for nonfungible tokens (NFTs) started to gain some notoriety, and by the end of March 2021, this new market for digital assets had a total lifetime traded volume of about $550 million. Any digital asset can be an NFT including collectibles, artwork, video game characters, virtual world objects and digitized sports. A blockchain, often one on the Ethereum network, is where an NFT’s ownership is recorded. However, the sale of this digital asset will result in ownership transfers and the blockchain recording of the crypto payment received. This isn’t to say that NFTs and cryptocurrencies are …

Celebrating the myriads of accomplishments earned by the crypto ecosystem, Immunefi, Electric Capital, Bitscale Capital and MA Family together hosted The Bug House — a party for bringing together the global Web3 community. In a panel hosted by Cointelegraph editor-in-chief, Kristina Lucrezia Cornèr, sat with Mitchell Amador, founder and CEO at Immunefi and Brendan Eich, founder and CEO of Brave browser to discuss the evolution of Web3 and its future trajectory. “There’s a lot of Web2 in Web3. That’s a problem right now,” began Eich when asked about the ongoing Web2 to Web3 transition. From using trusted servers to sub-custody …

During the ecosystem’s annual gathering at Breakpoint 2022 in Libson, Solana made a series of launch announcements as it prepares to go mainstream. Cointelegraph’s ground team — present during the conference — shared insights into Solana’s roadmap, which includes the launching of smartphones, dApp stores and a partnership with Google Cloud, among others. Good morning from @SolanaConf Come say hi if you see us with our Cointelegraph merch Follow this thread to get more updates you on this lovely event! pic.twitter.com/4m2jNaTSNS — Cointelegraph (@Cointelegraph) November 5, 2022 Solana Breakpoint, a four-day conference scheduled from Nov. 4 to Nov. 7, attracted …

The entity supporting research and development of Polkadot as well as overseeing fundraising efforts for the blockchain has argued that the United States Securities and Exchange Commission should not consider the DOT token a security under its regulatory purview. In a Nov. 4 blog post, the Web3 Foundation Team’s chief legal officer Daniel Schoenberger said Polkadot’s native token (DOT) had “morphed” and was “software” rather than a security. Schoenberger said the claim was “consistent with the views” it had shared with the SEC following discussions it began in November 2019. “While the Polkadot vision had not contemplated that the blockchain’s …

Learning by doing is a powerful yet simple educational concept: the best way to discover how something works is by giving it a try. PetaRush — a racing game featuring NFT characters — is positioning itself as a shining example of how this can work in practice. Designed to be friendly and welcoming to Web3 beginners, this game can be enjoyed even if players don't have a crypto wallet or understand how blockchain works. PetaRush also wants to reach people who have never owned an NFT before — giving them a chance to log in for free and experience the …

The blockchain technology developer Elrond announced it will redefine itself as a new brand with a focus on the metaverse. Formerly known as Elrond, the company will move forward under the new name MultiversX with the introduction of three new metaverse-forward products. xFabric, xPortal and xWorlds are the three new tools behind the rebrand, all of which aim to help metaverse creators and users. The tools include a metaverse portal, digital assets holder, creator utilities and a deployable blockchain module. Beniamin Mincu, the CEO of Elrond, commented to Cointelegraph saying that the new rebanding will benefit both digital and physical …

Welcome back to day three of the Web Summit, one of the world’s leading tech conferences, with over 71,000 attendees on the third day. Stationed in Lisbon, Portugal, Cointelegraph's ground team is ready to bring the most exclusive insights on Web3, crypto and blockchain from the event. The first two days of the summit saw some of the leading Web3 founders share their views on the future of finance, metaverse and gaming. WAX CEO William Quigley told Cointelegraph that traditional firms likely won’t be leading the charge in the next generation of Web3 games. Sandbox co-founder said that the future …

The building of the metaverse is an ongoing process. Sebastien Borget, the co-founder of The Sandbox metaverse, even called the future of the metaverse evolving. Speaking to Cointelegraph's Gareth Jenkinson at the Web Summit tech conference in Portugal on Nov. 3, Borget said that what we see today in the Sandbox is “the natural evolution of things” after almost a decade of work. The evolution of the metaverse, particularly the way brands engage with users, has accelerated at rapid speed. It’s this fast-paced development that has investors pouring billions of dollars into metaverse projects across the space. “We're now seeing …

Nonfungible token (NFT) gaming is getting a face lift. A new collaboration between Laguna Games, a Web3 R&D entertainment developer, and Lens Protocol allows players to connect across multiple gaming experiences. These new decentralized gaming IDs will allow players to connect their profiles across Crypto Unicorn’s web and mobile NFT gaming platforms. The Lens integration is binder which takes profiles on its network and connects them with the avatar system behind Crypto Unicorns. This opens up new avenues for logging into games, accessing leaderboards, along with benefits and rewards in the ecosystem. Aron Beierschmitt, the CEO and co-founder of Laguna …