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

Investors showed keen interest in Web3 gaming during July 2023, injecting a substantial $297 million into the sector. This surge in investments was attributed to strategic partnerships and significant developments in both the Web3 and Metaverse realms. The previous month had witnessed a stark drop, hitting a mere $68 million, partly due to regulatory issues involving major players like Binance and Coinbase. Although the count of daily active wallets experienced a slight 0.5% decline, Web3 gaming retained its significance, constituting 41% of the total industry activity. Notably, infrastructure projects received the lion's share of funding, amounting to $187 million. Prominent companies like Google recognized the transformative potential of Web3 gaming, solidifying its appeal to investors.DappRadar's report delved into various aspects of this ecosystem, highlighting unique gameplay mechanics and innovative monetization strategies such as virtual item sales and the "play to earn" concept. The gaming sector accounted for 41% of all blockchain transactions, with WAX boasting the highest count of unique active wallets. Collaboration between entities like CyberKongz and Ronin, along with shifts to platforms like Arbitrum by Mighty Bear Games, shaped the Ethereum Layer 2 gaming landscape. Notably, Google's decision to embrace Web3 games in its Play Store, albeit with specific conditions, signified a pivotal step forward. The migration of games, like "Mighty Action Heroes," to platforms such as Arbitrum demonstrated their growing adoption.Despite market fluctuations, July underscored the industry's resilience and growing confidence. Investments not only reflected optimism in the Metaverse and virtual realms but also showcased faith in the potential of blockchain technology. The trajectory of blockchain's integration into gaming was exemplified by notable projects on platforms like Ronin, reflecting a paradigm shift that promises to redefine the industry's future. As the month unfolded, the impact of these investments on product development, user engagement, and market expansion remained a focal point. This convergence of gaming, blockchain, and the Metaverse holds tremendous promise for the future, as demonstrated by the substantial strides made in July 2023.

Learn about the history of the rise of player-driven game economies in Web3 and decentralized RPGs powered by blockchain technology. When home computers and home game consoles came out on the market, we could also see how the gaming industry had changed. People bought boxed cartridges, and it was still a pay-to-play business. Then came the free-to-play era, when mobile gaming took off and swept away the traditional gaming industries. We now have Web3 games where player-driven economies are the main focus.

The internet has come a long way since its inception in the 1990s. From simple static web pages to complex, interactive applications, the web has evolved dramatically over the years. Today, we are witnessing the emergence of Web 3.0, which promises to take the internet to the next level with the help of blockchain, AI, and decentralization. This blog will explore the evolution of the web, from Web 1.0 to Web 3.0, and discuss the technologies and concepts that are shaping the future of the internet. Web 1.0, also known as the static web, refers to the early days of the internet when the web was primarily a collection of static HTML pages. The web was mainly used for publishing information and providing basic functionalities such as email and file sharing. The characteristics of web 1.0 were limited user interaction, unidirectional flow of information, and a lack of dynamic content. Moreover, It was mainly for information dissemination rather than interaction and collaboration.

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

YouTube's new CEO, Neal Mohan, is bullish when it comes to Web3; check out his views on NFT, metaverse, and Web3.

Epic Games’ Tim Sweeney is a staunch supporter of Web3 and sees metaverse as the future of the internet. Recently, Tim Sweeney shared his thoughts on the metaverse, crypto, and the antitrust debate associated with it. Speaking about the creation of the metaverse, Sweeney is positive about the creation of the metaverse over the next decade.The creation will take place over the foundation of open systems, open standards, and no walled gardens where companies will work together on mutual respect of customers. The metaverse will allow players to jump from one ecosystem to the other without any concerns whatsoever.Sweeney related the working of future metaverse with how the world interacted with each other in the early days of the web.

The recent addition of capital of blockchain is Dragonfly Capital’s third funding round. The focus is on investing in crypto-based projects

Blockchain gaming news: every week we write about latest game news on P2E, Play-to-Earn, Web3, NFT, Crypto, Metaverse games. Read it today!

What are crypto wallets? Why do we need them? How do they work? Do these wallets have benefits? Are they even secure? Learn everything you need to know!

RobotEra is Web3 metaverse blockchain NFT game running on Play and Earn mechanics, play as a robot and see what this game offers in its vast metaverse replete with earning venues.

Mastercard and Polygon join hands to support music talent by launching a Web3-based Artists Accelerator Program, Check out the details here.

Runestone Keeper by Cimu Games, a popular game on Steam, consoles, and mobile, is coming to Web3 this year with help of Ready Games blockchain platform.

Immutable, a prominent player in the blockchain gaming sector, led by CEO Robbie Ferguson, has achieved significant milestones despite challenges faced in 2022. Immutable's blockchain platform, ImmutableX, witnessed a remarkable 250% surge in NFT trading volume, amounting to $87 million. The company's trading card game, Gods Unchained, remained a top 25 most-traded collection across blockchains, and its gaming platform expanded from 5 to 100 games, covering a market outreach from 3 to 15.CEO Robbie Ferguson envisions a rapid increase in the global audience for Web3 games, attributing this growth to substantial investments reducing industry risks and boosting game development. Ferguson anticipates the Web3 gaming audience to soar from 2 million to tens of millions in 2023, driven by the release of high-quality AAA games including Immutable's own creation, Illuvium. The CEO also highlights the appeal of in-game item ownership in Asia and predicts the region's leading role in the Web3 gaming domain.Immutable's success showcases the tangible nature of blockchain gaming, appealing to investors due to its empirical use case and the rising value of in-game items. Notably, advancements in AI-driven game development software contribute to cost-effectiveness. While skepticism exists, Ferguson emphasizes that focusing on enjoyable gameplay experiences will promote broader adoption of blockchain games, instilling consumer trust.Ferguson predicts consolidation within the blockchain gaming industry, with financially weaker firms facing challenges while well-established ones with solid business models continue to attract investment. Immutable's resilient journey from the 2018 crypto bear market to current success underscores the viability of serious and well-grounded companies in this sector. Overall, Immutable's achievements and insights position it for a noteworthy future in Web3 gaming.

Industry experts have released predictions for 2023 in the mobile gaming industry, specifically focusing on the use of blockchain technology and NFTs, as well as the growth of the hypercasual sector. These predictions provide insight into the future of mobile gaming and how it may be impacted by developments in the web3 space.

The idea is far-fetched because both Apple and Google are reluctant to embrace blockchain games and NFTs. How does Ready Games plan to do it?