Yuga Labs has sold off the intellectual property rights of two of its games to Web3 gaming firm Faraway.
Games News
In recent years, gaming has become an avenue to earn money in addition to an enjoyable pastime. This is especially true for fans of digital currencies like Ether (ETH) and Bitcoin (BTC). Cryptocurrency games have emerged that allow users to amass digital assets while having fun. At first, the idea of blockchain-based assets was introduced through games such as Cryptokitties. However, the evolution of Web3 and blockchain gaming has since skyrocketed, exemplified by games like Axie Infinity.
Web3 games, in contrast to traditional games, run on decentralized networks, guaranteeing that in-game property belongs to the user. Through enabling players to earn cryptocurrency through participation, play-to-earn, move-to-earn and other gaming models are changing the gaming industry. This shift signifies a departure from conventional gaming paradigms, offering players unprecedented control and financial opportunities within the virtual realm.
Future gaming experiences promise to be even more inventive and lucrative as blockchain technology develops, fostering a vibrant ecosystem in which players actively contribute to the development of their virtual economies in addition to simply enjoying the games.
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The venture firm is putting $600 million of its billions into a new gaming fund — which includes Web3, GameFi and AI-integrated gaming projects.
4348From Tim Draper's $250K BTC prediction to Ubisoft’s newest web3 game, Paris Blockchain Week didn’t disappoint.
5075The AAA game developer aims to launch its first blockchain-based game by the end of 2024.
2544The wellness industry faces challenges in user engagement and data privacy despite its projected growth to $111 billion by 2030.
15417This week’s Crypto Biz explores the gaming industry’s renewed optimism, Binance’s first board of directors, Paradigm’s new crypto fund and how Bitcoin miners are gearing up for the halving.
1503The project uses generative AI to power conversational nonplayer characters in a bespoke island metaverse.
10652According to the report, DApp activity is up 77% over Q4 2023.
2901The company’s latest investment round is its largest to date.
6522Institutions are also becoming interested in Web3 gaming as more player-centric GameFi projects emerge.
1352Unlike many projects, bitsCrunch prioritizes building a functional network. It tackles the challenge of interpreting blockchain data, making it valuable for businesses and individuals alike.
13441NFT game Munchables is reworking its multisig and restructuring its team after a hacking incident costing millions of dollars.
1163This AAA survival Web3 game combines the essence of traditional and blockchain gaming, aiming to deliver a rich gaming experience with play-to-earn mechanics and upcoming VR integration.
17518Munchables is onboarding new signers to its multisig, reauditing smart contracts and reviewing its dev hiring process to avoid what would have been a grave loss last week.
2063$750,000 will be handed out to a maximum of 40 companies, however, a16z’s early-accelerator only accepts around 1% of applicants.
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