Game7 Launches $100 Million Grants Program to Push Web3 Gaming Development

November 30, 2022 Bitcoin.com

Web3 gaming still a long way from mainstream adoption: Survey

October 6, 2022 Coin Telegraph

Big Time

In a survey commissioned by Coda Labs, 6,921 people from five countries were asked a series of questions to determine their perception of crypto, NFTs, and Web3 gaming.

A new survey commissioned by blockchain entertainment provider Coda Labs suggests that despite the huge amount of money being poured into Web3 gaming, traditional gamers are still yet to warm up to crypto or NFTs and have little interest in Web3 games.

According to the survey, gamers pointed to practical barriers as their main reason for shying away from Web3 games, with gamers often not knowing how they might work and lacking a blockchain wallet.

The survey found that only 12% of non-crypto gamers have tried Web3 games, while just 15% of those yet to try were interested in doing so in the future.

The survey pointed to play-to-earn (P2E) as the most recognized term associated with Web3 games, and crypto earnings as the most commonly perceived benefit of playing them.

When these two factors are considered in tandem, the findings reinforce what many industry players have been saying recently — that gamers are more interested in playing a "fun game" than the tokenomics associated with many Web3 games.

*Respondents’ perception of the main challenges associated with Web3 games. Source: Coda Labs.*

The survey data suggests that those who had played Web3 games ended up being positive about them, with traditional gamers giving them a rating of 7.1 out of ten while gamers who are active within the crypto space rated them at 8.3.

Speaking to Cointelegraph last week during Asia Crypto Week, the executive president of the Asia Blockchain Gaming Alliance (ABGA), Kevin Shao suggested the focus on the P2E and NFTs aspect of blockchain games may be what is holding back mainstream adoption of GameFi.

Shao believes the release of “triple-A” titles like Phantom Galaxies and Big Time can help shift gamers' perspective of Web3 games away from the P2E features and onboard people who are looking to play games purely for fun.

Conducted throughout June 2022, the survey saw responses from 6,921 people across five different countries.

To be eligible to participate in the survey, the respondent needed to play video games at least twice per month, have used a crypto wallet, traded via a decentralized exchange, or traded an NFT in the last 30 days.

The survey was conducted by data creation platform WALR, which is a member organization of the Market Research Society and complies with its Code of Conduct.

Nifty News: NFT and Web3 gaming console to launch in 2024, Chinese firms to check ID for NFT buying, and more

July 5, 2022 Coin Telegraph

Blockchain Game

The console's creators say it will be compatible with eight blockchains and have its own digital wallet, token, and marketplace, with a prototype coming in “a few months.”

Polium, a company that markets itself as “building the products and infrastructure for Web3 gaming,” has said it's launching a gaming console that will support multiple blockchains and nonfungible tokens (NFTs).

The “Polium One” console announced on July 3 is slated for an initial Q3 2024 release and will support the Ethereum (ETH), Solana (SOL), Polygon (MATIC), BNB Chain (BNB), ImmutableX, Harmony, EOS, and WAX blockchains.

We are introducing the Polium One, A multi-chain console for Web 3 Gaming. #Web3OnConsole pic.twitter.com/tkRaP2O13A
— Polium (@Polium__) July 2, 2022

Currently, the only specifications listed for the console are that it will support a 4K Ultra HD resolution at 120 frames per second. Polium says its community will help them build the console’s hardware and software and states it will have a functional prototype in “a few months.”

According to Polium, the console will feature its own multichain cryptocurrency wallet, and the controller will have a wallet button for users to make trades more efficiently. Security and verification of transactions from the console will be enabled via a fingerprint scanner on the controller.

The console's price is unknown, but Polium does plan to mint a “Polium Pass” NFT, which will allow holders to claim a console on the initial launch day. Pass holders will receive another NFT, which in the future can be staked for a “PLAY” token, the console's native token for transacting on its marketplace app.

Polium plans on releasing 10,000 consoles to Polium Pass holders and partners on the Q3 2024 initial launch, with more units manufactured for the public in Q3 2025. It has set a goal of selling over 1 million units.

The company has already received criticism for its logo looking similar to another popular console, the Nintendo GameCube. Polium said it didn’t copy the logo and is already creating a new logo “that is original.”

Man logo looks kinda familiar... pic.twitter.com/bruj4gX35D
— ben shambrook (@shambrookben) July 4, 2022

Chinese tech giants to check ID before NFT purchases

China’s NFT industry players and the country’s largest technology firms have signed an agreement to check the identity of users using digital collectible trading platforms, according to a report on July 4 from the South China Morning Post.

A so-called “self-discipline initiative” document was signed by companies with a stake in China’s NFT market, such as JD.com, Tencent Holdings, Baidu, and digital payments platform Ant Group, an affiliate of Alibaba Group.

The document was published on June 30 by the China Cultural Industry Association and, while not legally binding, calls on the firms to “require real-name authentication of those who issue, sell and buy” NFTs, and “only support legal tender as the denomination and settlement currency.”

The initiative also seeks for the companies to promise not to create secondary marketplaces for NFTs to combat trading speculation.

The popularity of NFTs in China is on the rise, and digital collectable platforms have grown 5X in just four months from February to mid-June 2022 despite multiple warnings from the government.

Nike looking to create video game NFTs

A patent filed by Nike Inc. on June 30 with the United States Patent and Trademark Office (USPTO) shows the fitness clothier is interested in a “video game integration” of NFTs.

As per the filing, Nike seeks to patent a method where a “virtual object” will display in games, where that object is a “virtual shoe, article of apparel, headgear, avatar, or pet.” Other language in the filing suggests Nike plans to sell the physical shoes and clothes represented within the NFTs.

The reasoning presented in the filing suggests Nike is concerned with counterfeit digital collectibles and says there “exists a need for a retailer to more directly influence and control the nature and ultimate supply of digital objects within this virtual market.”

It also reasons an opportunity exists for it to capitalize and engage with video game players as most games feature customizable characters, which could make them “more engaged with a brand in the physical world.”

More Nifty News:

The second-largest sale of an Ethereum Name Service (ENS) domain not only in U.S. dollars but also in Ethereum happened on July 3 when the domain “000.eth” sold for 300 ETH, roughly $320,000. The highest sale of an ENS domain was for “paradigm.eth” in October 2021, which fetched 420 ETH, around $1.5 million at the time.

Social media platform Facebook will add support for NFTs, and a “digital collectibles” tab will appear on the pages of selected creators in the U.S., with a feature to cross-post between Instagram and Facebook rolling out eventually.

web3 gaming