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Consumer watchdogs call for EU action on in-game digital money

Consumers fall prey to many deceptive practices when buying and using in-game currencies in video games, claims BEUC.

A group representing European consumer protection organizations has filed a complaint with the European Commission about the video game industry’s use and marketing of in-game digital currencies.

The European Consumer Organisation (BEUC) and 22 member organizations from 17 countries on Sept. 12 called for the European Commission and the European Network of Consumer Authorities (CPC-Network) to take stronger enforcement against video game companies that maximize consumer spending by using in-game currencies. 

A report from the watchdogs noted the growth of in-game purchases using in-game digital currencies, especially in free-to-play games and those played by children, a practice they claimed now generates significant revenues for game companies.

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The future of Web 3.0 gaming—Blockchain Futurist Conference

According to a 2024 OnePoll survey of 2,000 adults, 52% of respondents said they were unaware of what blockchain gaming was.

Executives from World3, Helika, and Anomaly Games took the stage at this year's Blockchain Futurist Conference in Toronto, Canada to discuss the current state and future of Web 3 gaming.

Long Do, CEO of Anomaly Games, opened up by explaining his company's focus on abstracting away the highly technical components of the blockchain experience so that users would not even know they were engaging with blockchain systems.

The CEO then turned his attention to the stark contrast between game profitability for traditional game developers and Web 3 game development studios:

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Pixelverse PIXFI token rises nearly 50% in first hours after airdrop

Pixelverse airdropped 10% of PIXFI’s total supply to holders of its Rare, Epic, and Legendary non-fungible token (NFT) collections.

Pixelverse, a non-fungible token (NFT) and gaming platform on The Open Network (TON), launched its native token, PIXFI, in a much-anticipated airdrop on July 18.

The token traded up almost 50% in the first hours after listing and approached approximately $200 million in fully-diluted market capitalization before pulling back later in the day, according to CoinMarketCap.

The PIXFI token is now listed on several centralized exchanges, including Bybit, HTX, Gate, Bitget, MEXC, according to another Pixelverse X post.

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Ubisoft Partners With Double Jump.Tokyo to Implement Web3 in Its Games

Ubisoft Partners With Double Jump.Tokyo to Implement Web3 in Its GamesUbisoft, the French AAA game developer, has recently announced a partnership with Double Jump.Tokyo, a Web3 gaming company, to accelerate the implementation of Web3 elements in their games. As a first step, Double Jump.Tokyo will issue NFTs for Champion Tactics, a game still in development, on top of Home Verse, an Oasys L2 structure with […]

Crypto Analyst Predicts Incoming Bitcoin Parabolic Rally, Says BTC at Point Where Things Get Exciting

Memecoins and AI are pushing Gamefi out of the spotlight

Industry figures disagree on whether GameFi is having a good year as other aspects of Web3 hog the spotlight.

Gaming’s intersection with finance and crypto — also known as Gamefi — has been a bit of a mixed bag in 2024.

Voices from across the industry have spoken to Cointelegraph to deliver their verdicts on the current state of the GameFi industry — and their conclusions are far from unanimous.

In December 2023, Cointelegraph asked industry experts to predict what 2024 would bring for the sector, and now that we’ve passed the halfway mark, we’re revisiting the subject once more.

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DWF Labs Launches $20 Million Cloudbreak Fund

DWF Labs Launches  Million Cloudbreak FundDWF Labs announced the launch of a $20 million Cloudbreak Fund aimed at supporting Web3 projects in Chinese-speaking regions. The fund will provide investments and strategic resources to help emerging projects achieve their potential. DWF Labs Reveals Cloudbreak Fund for Web3 Projects in Chinese-Speaking Regions According to the announcement shared with Bitcoin.com News, DWF’s Cloudbreak […]

Crypto Analyst Predicts Incoming Bitcoin Parabolic Rally, Says BTC at Point Where Things Get Exciting

Hamster Kombat creators: marketing geniuses or modern satirists?

Hamster Kombat has 200 million players clicking their screens. But the game raises intriguing questions about play-to-earn gaming, growth hacking and universal basic income.

Hamster Kombat isn’t just another game. It’s a digital powerhouse driven by constant clicks, a quest for profit, and promises that exist only online. Since its launch on Telegram in March 2024, Hamster Kombat has skyrocketed in popularity, attracting over 200 million users.

The speed with which it gained players is perhaps most impressive. The Telegram-based game onboarded around 1.8 million players daily in the 77 days after it went live. It’s in-game mechanics have also led to its social media and YouTube channels breaking records.

Hamster Kombat embodies casual gaming—simple, accessible, and requires zero skill. These games are meant to kill time effortlessly. In Hamster Kombat, you can mindlessly click on the Hamster avatar to rack up coins. 

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Crypto clicker games need real token use cases to be sustainable

As Notcoin and Hamster Kombat continue to amass millions of users, experts question the long-term viability of crypto clicker games.

Web3 clicker games are the newest phenomenon to appear in the crypto world, but their purported ability to generate fast returns has called their sustainability into question.

Also known as crypto idle games, these simple yet addictive games have witnessed monumental financial growth over the past month alone, attracting tens of millions of users while generating substantial buzz worldwide.

Notcoin, a play-to-earn (P2E) game integrated into the Telegram messaging app, has been at the forefront of this revolution, boasting an impressive 40+ million players. Moreover, since May 26, the game’s native Notcoin (NOT) token has seen a staggering 240% increase in its value, with its market capitalization soaring past $2.75 billion at its peak.

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Pixelverse Raises $5.5 Million to Expand Web3 Gaming Ecosystem

Pixelverse Raises .5 Million to Expand Web3 Gaming EcosystemPixelverse, a developing entertainment studio and game ecosystem, has secured $5.5 million in a private funding round led by prominent Web3 venture capital firms. The funds are intended to support the growth of Pixelverse’s gaming platform, which has seen significant user engagement since its launch. Pixelverse Secures $5.5 Million Pixelverse‘s recent funding round saw participation […]

Crypto Analyst Predicts Incoming Bitcoin Parabolic Rally, Says BTC at Point Where Things Get Exciting

Majority of gamers still unaware of blockchain gaming — survey

A OnePoll survey found that more than three-quarters of adult gamers have never heard of blockchain gaming or have never played a blockchain video game, indicating a huge untapped opportunity.

While blockchain games like Axie Infinity, Gods Unchained, Star Atlas, Decentraland, and The Sandbox continue to make waves within the blockchain community, their influence over the mainstream gaming community remains limited.

A recent poll conducted by OnePoll revealed that blockchain gaming is still a relatively untapped field, with huge potential for game developers and studios to take advantage of.

Out of 2,000 adults surveyed, 52% were not familiar with blockchain gaming at all, while 32% were aware of it but had never actually played a blockchain game.

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Crypto Analyst Predicts Incoming Bitcoin Parabolic Rally, Says BTC at Point Where Things Get Exciting