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

Korea Blockchain Week 2023, a prominent annual event in the blockchain and cryptocurrency space, showcased several key insights and developments that have the potential to shape the future of blockchain technology. Notably, the event revealed a growing surge of web3 innovation in Asia, particularly in Japan and South Korea, signaling a shift in global attention towards the East for fresh ideas and projects. Web3 Gaming Economy Innovations: Web3 technologies, with a strong emphasis on gaming applications, stood out prominently at the event. South Korea, renowned for its leadership in esports and free-to-play gaming, is poised to become a leader in web3 innovation as well. Despite legal restrictions preventing play within the country, numerous web3 gaming projects are thriving in the region. Wemade, a major sponsor of the event and a well-known mobile game publisher, introduced their cross-chain solution named unagi (Unbound Networking and Accelerating Growth Initiative). This solution streamlines asset transfer between blockchains and asset tracking. The upcoming una wallet, set to release in Q4, will be an integral component, accessible via browser extensions and mobile apps, initially supporting eight chains, including Ethereum and BNB Smart Chain, two prominent gaming blockchains. Planetarium Labs, known for the MMO Nine Chronicles, unveiled Verse8, an "open-source decentralized roguelike RPG protocol." Beyond being a game, Verse8 serves as a protocol equipped with tools for creating, distributing, and monetizing virtual worlds. The aim is to foster collaboration and empower individuals to design RPGs, encouraging multiplayer gaming, gaming communities, and virtual economies. Netmarble's Pioneering Web3 Initiatives: Netmarble, a South Korean mobile game publisher recognized for collaborating with major brands such as Marvel, DC, and Jurassic World, is actively engaged in web3 gaming initiatives. Despite facing challenges, Netmarble is committed to simplifying web3 for players unfamiliar with the technology, particularly in the mobile gaming sphere where they hold a strong global presence. They introduced gMBXL, a unified in-game currency for the Marblex ecosystem, underlining their dedication to enhancing token economics and utility across games. Story Protocol: Democratizing IP Creation: Story Protocol, often described as "Git for IP," made significant strides in revolutionizing intellectual property (IP) creation during Korea Blockchain Week. Utilizing blockchain technology, Story Protocol seeks to democratize IP creation across various domains, extending beyond game IP. The platform encourages contributions, remixing, and revenue generation while emphasizing clear attribution and automatic royalty payments. Backed by $54 million in funding led by a16z, Story Protocol aims to transform the management, verification, and utilization of IP within creative industries. Challenges and Shift in Mindsets: Despite the enthusiasm for web3 gaming, South Korea faces challenges due to a nationwide ban on games involving NFTs or cryptocurrencies. Nevertheless, developers are actively seeking solutions to circumvent these limitations while upholding the spirit of web3 gaming. A noteworthy observation is the differing approaches taken by South Korea and Japan in tokenomics models and NFT ownership. South Korea has historically favored play-to-earn models, while Japan has leaned towards NFT ownership. Korea Blockchain Week 2023 suggests a gradual shift in South Korea's mindset towards adopting Japan's NFT-focused approach. In summary, Korea Blockchain Week 2023 underscored South Korea's strong commitment to advancing web3 gaming and blockchain technology. The event exuded excitement and determination to overcome challenges, showcasing the transformative potential of web3 in established IPs like MapleStory and the exploration of blockchain's broader applications beyond the gaming industry.

TOKYO BEAST is a groundbreaking crypto entertainment project aiming to revolutionize web3 gaming with innovative features. Spearheaded by TOKYO BEAST FZCO, with its headquarters in Shinjuku, Tokyo, and led by CEO Hiroyuki Kawamoto (known as "gumi"), and technology and financial advisory from Turingum K.K., under CEO Hiroki Tahara (referred to as "Turingum"), the project is set to leverage the Polygon blockchain network for global expansion in 2024.This ambitious initiative, unveiled during Korea Blockchain Week on September 4, 2023, introduces TOKYO BEAST as a decentralized entertainment platform that encourages users to explore the entertainment industry using cryptocurrency. With an unmatched development budget, TOKYO BEAST aspires to elevate Web3 gaming with the expertise of a team renowned for their success in Japanese gaming.Key Features of TOKYO BEAST:Prioritizing User Experience: The project focuses on delivering an enjoyable gaming experience, even for players unfamiliar with Web3 capabilities. It offers engaging settings, intriguing characters, and a fun combat system, making it accessible to a broad audience without the need for initial NFT purchases or wallet connections.Play and Collect Characters: TOKYO BEAST introduces a diverse cast of playable and collectible characters, designed with high aesthetic appeal and uniqueness, aiming to attract a global audience.Crypto Industry Integration: Unlike other Web3 games, TOKYO BEAST encourages players to merge in-game experiences with real-world crypto knowledge, fostering a unified perspective among all players.Predictive Battles: An innovative win-loss prediction tool enhances gameplay by allowing users to forecast battle outcomes with data-driven accuracy. Real-time broadcasts of battles enable global audiences to share the excitement.Expanding Universe: Future module projects will interconnect, creating a dynamic fusion of crypto and traditional media within the TOKYO BEAST universe. The team plans to evolve both the game's universe and the practical applications of the TBZ coin.In 2024, the project will release core module projects in stages, including BASE, FARM, and TRIALS, offering users opportunities to learn about the TBZ token, NFT ownership, and unique entertainment experiences.To celebrate the project's announcement, TOKYO BEAST's official X account will run three early entry campaigns. Participants can win Mystery Boxes containing TOKYO BEAST tokens and NFTs through the Follow Me Campaign, the weekly prediction quiz, and the Strike Jackpot campaign, which offers chances to win prizes as the community grows.TOKYO BEAST aims to redefine crypto entertainment by combining cutting-edge technology with a user-centric approach, promising an exciting future for web3 gaming enthusiasts worldwide.