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

DappRadar has shared a list of promising Web3 games that will be launching massive updates in the coming weeks, and in this article, we will analyze some of the best play-to-earn Web3 games available for May 2023. Play-to-earn games are becoming increasingly popular as gamers seek ways to earn cryptocurrencies while playing their favorite games. In the first quarter of 2023, several exciting Web3 games were launched, providing gamers with immersive gaming experiences. As Web3 becomes the norm, play-to-earn games will continue to gain popularity, and game developers are ensuring they meet gamers' standards. DappRadar has highlighted some of the most epic Web3 games to follow this month, and this article discusses and analyzes the list of Web3 play-to-earn games for May. The list of games includes The Sandbox, Shrapnel, Splinterlands, Paradise Tycoon, Eternal Dragons, NFL Rivals, Kaidro, and DEFY.

The article gives insights into the Growth, Fluctuations, and Innovations in the Blockchain Gaming and Virtual Worlds Industry. Blockchain gaming experienced a slight decline in activity in April 2023 according to a recent report by DappRadar. The report suggests a 10% decrease in overall activity. However, blockchain games still accounted for 38% of on-chain activity, demonstrating their continued relevance and potential for growth. The emergence of new gaming chains such as Arbitrum and Immutable X, with Arbitrum experiencing a 118.36% increase in users and Immutable X witnessing an 8.88% growth, reflects the ongoing expansion of the blockchain gaming ecosystem. This growth will lead to further innovation and a wider range of gaming experiences in the future. WAX is the most popular game chain right now, with more than 320,000 unique active wallets (UAW) being used every day. Polygon is in second place with more than 140,000 UAW, followed by Hive with about 86,000 UAW and BNB Chain with 82,000 UAW. Game makers and investors are both interested in Sui, a new blockchain network.

Ultra Games has reached another important milestone by launching its Google Chrome application. This comes after the successful launch of the Ultra Games store. Ultra Games is the Steam version of Web3 games, which is changing the video game market by adding more features for a better gaming experience. By adding this extension to their computers, Ultra Games users can go straight to their wallets. Users can put their UOS and Uniqs in the cryptocurrency wallet that doesn't hold users' money. With this application, users can also trade NFTs safely and without paying any extra fees. Also, Ultra Games was going to release their third-party data source. Ultra Games has also given the name 'Ultra is Life' to their third-party data source and interface. 'Ultra is Life' lets users see what NFT and ultra wallet trades are going on in the Uniq market.

The Gala Games contract upgrade marks a significant transformation in the game ecosystem. This update introduces a new token, $GALA(v2), which will replace the original $GALA token, offering users improved security, growth prospects, and additional features. The transition is scheduled for Monday, May 15, around noon PT time. Token holders will receive the new $GALA(v2) token at a 1-to-1 rate. However, holding $GALA in centralized exchange wallets might lead to issues, as the exchange could gain ownership of the new tokens.Binance Group plays a crucial role in this transition, supporting Gala Games in their contract upgrade. The new $GALA(v2) token will be backed by Binance, providing technical expertise and ensuring a smooth process. Exchange support is vital to ensure users can seamlessly obtain the new tokens, and centralized exchanges must manage the token swap accurately.Gala Games has been actively engaging with exchanges that list the $GALA coin to gain their support, although some exchanges might not respond in time. They recommend restricting users from entering or withdrawing the old $GALA(v1) token after the contract swap.Binance Group's backing is pivotal in Gala Games' contract upgrade. Binance publicly supports the contract swap and will halt $GALA deposits and withdrawals on the Ethereum network at a specific time. This move aims to ensure that the new tokens are seamlessly integrated into users' accounts. Binance's trust in Gala Games showcases confidence in blockchain technology and fosters trust in the ecosystem.Binance's endorsement is likely to attract more users and investors to the Gala Games ecosystem, enhancing the project's visibility and growth potential. As a major cryptocurrency exchange, Binance's support holds significance. Furthermore, Binance's example sets a precedent for other exchanges, encouraging them to follow suit and facilitate smoother transitions for token upgrades.Overall, Binance's support for the Gala Games contract upgrade is a pivotal development. It demonstrates faith in the project's capabilities, encourages user and investor participation, and sets a valuable precedent for future token upgrades. The upgrade's success on May 15 will be closely observed by the Gala Games community and the broader cryptocurrency industry.

The auto-battle Web3 game Eternal Dragons just got a huge update that promises a ton of new and exciting content for its loyal players. Starting today, the update is in full swing. It adds lite NFT integration, which will let Genesis Eternal Dragons come out for the first time. Along with adding NFT, the update adds Quest Mode Challenges and makes a number of other changes and improvements to the game. Now, if a player takes part in a PvE Quest Challenge, they can win rewards on a daily basis. The change will make the game a lot more fun to play for players who will continue to level up. So, there's a lot to do after the update. You can go to Magic Eden to check your Genesis Holdings, go straight to PvE mode, or fight other players in PvP mode. Let's talk about how these changes will affect the game and the players.

The current economic approach of play-to-earn (P2E) games is one of the biggest problems with Web3 gaming. Play-to-earn games can be very profitable for some people, but they may not be able to keep going in the long run. Casual players don't like games that are more focused on making money than having fun. In a study, the Blockchain Game Alliance said that the main things holding back mass adoption are bad gameplay and hard-to-understand onboarding. To solve these problems, developers need to focus on making immersive and interesting gameplay, a smooth way to get started, and long-term economic models that put players first. Web3 games is a part of the blockchain business that is growing quickly. But Web3 gaming hasn't become popular yet, even though it has a lot of promise. A recent poll found that 75% of game developers plan to work with Web3 games in the future, and 56% of those surveyed think that Web3 technology will change the way games are made.

Web3 assets are still a long way from being used by most people. No matter if it's NFTs, cryptocurrency, tokens, or some other type of digital asset, there are a number of problems that are slowing the growth of Web3. One of the biggest problems is that states all over the world move slowly when it comes to making rules for Web3 digital assets. Part of the reason for the slow method is that Web3's new technology is very fluid. And politicians are trying to figure out and learn more about Web3. But experts say that states need to start regulating Web3 assets as soon as possible. Experts say that states should make rules about Web3 assets as soon as possible. And not wait until the field has reached its peak, since it is always changing. Monday at the Dubai FinTech Summit, there was a panel discussion where these thoughts and points of view were brought up.

The gaming business is on the verge of a big change. As technology keeps getting better, the possibility of more complete and interesting games is becoming a fact. But the business still has to get past a number of problems before it can reach its full potential. One of the biggest problems in the game business is that it has become too centralized. Mysten Labs presents Sui Blockchain, a Layer 1 blockchain and smart contract platform that makes it easy, private, safe, and quick for anyone to own digital assets.

In the world of cryptocurrency, a significant development is taking place regarding Gala Games' native token, Gala, and its upgrade, Gala V2. Coinbase, a major cryptocurrency exchange, is at the center of this development, and its decision not to support the Gala token upgrade has raised questions and concerns within the cryptocurrency community. This article aims to provide a detailed summary of these events and their implications for Gala holders and the broader crypto industry.Gala Token Upgrade and Coinbase's Response:Gala Games, a blockchain gaming startup, has announced plans to upgrade its native token, Gala, to Gala V2. This upgrade is intended to enhance the token's smart contract, making it more secure and versatile for the evolving world of blockchain gaming. However, Coinbase, one of the largest cryptocurrency exchanges, has opted not to support this upgrade. Coinbase announced that it would cease trading the current Gala token (Gala V1) on May 12, three days before the scheduled upgrade on May 15. This decision has left many Gala holders concerned and uncertain about the fate of their holdings.The exact reasons behind Coinbase's decision remain unclear. Gala Games' President of Blockchain, Jason Brink, speculates that Coinbase may view the token distribution as an airdrop rather than a direct replacement, which could explain their cautious approach. Nevertheless, Coinbase's stance is having significant repercussions within the cryptocurrency industry.Implications for Gala Holders:Gala holders who currently have their tokens on Coinbase face several important consequences due to this development. To benefit from the Gala token upgrade to Gala V2, they must transfer their tokens to a compatible wallet by May 15. Failing to do so means they will not receive the upgraded tokens, and Gala V1 tokens will no longer be functional or supported on Coinbase after May 15. This creates a potential challenge for those who held Gala coins in liquidity pools or smart contracts, as they will need to withdraw their holdings promptly to participate in the upgrade.Moreover, beyond the immediate impact on Gala holders, Coinbase's cautious approach has broader implications for the cryptocurrency industry as a whole.Regulatory Challenges and Their Wider Impact:Coinbase's decision reflects the ongoing regulatory challenges that cryptocurrency exchanges are facing, particularly in the United States. Regulatory bodies such as the U.S. Securities and Exchange Commission (SEC) have heightened scrutiny of crypto-related activities, particularly initial coin offerings (ICOs) and token sales. Consequently, exchanges like Coinbase are exercising increased diligence when handling token upgrades and distributions.These regulatory challenges range from ensuring compliance with existing regulations to obtaining licenses and approvals from government authorities. While this compliance is essential for investor safety and to prevent illicit activities such as money laundering, it can also stifle innovation and slow down market growth. Stricter regulations may discourage companies from pursuing new ideas and projects due to the burden of compliance.Furthermore, unclear regulatory environments can erode investor confidence, leading to reduced trading and investment activities, which can negatively impact the cryptocurrency market as a whole.The Future of the Crypto World:In summary, the Gala Games' coin upgrade has stirred controversy within the crypto community, but it also highlights the broader regulatory challenges faced by cryptocurrency exchanges like Coinbase. The lack of clarity in regulations and their potential to inhibit innovation and growth remain significant concerns. However, the cryptocurrency industry continues to evolve and adapt. Over time, there is hope for clearer regulations and industry standards, which will foster innovation and growth.Until then, companies in the crypto space will need to navigate these challenges carefully while pushing the boundaries of what blockchain technology and cryptocurrencies can achieve. Despite the obstacles, the crypto industry's future remains promising, with the potential for continued expansion and maturation.

Mysten Labs and a number of the best game developers are starting the Sui blockchain network. The people who make games are Atari, Animoca Brands, Sandbox, and Decentraland. These agreements bring together the skills of game developers and blockchain technology to set a new standard for games. Atari, which is famous for games like Pong and Asteroids, will use its experience with games on the blockchain. RollerCoaster Tycoon will come out with the help of Mysten Labs on the blockchain. "RollerCoaster Tycoon: Atari World," a new game, will be better because of blockchain.

The Nemesis, a VR AR Metaverse platform, is preparing to launch its own ERC-20 payment token called NEMS on May 8th, 2023. And guess what? This token will let players cash out and earn real money using a cool Play-and-Earn model. Isn't that fantastic? The Nemesis is available on iOS, Android, and WebGL. NEMS has a lot of utility and acts as a payment token in The Nemesis. An ERC 20 on the Ethereum blockchain will serve as the foundation for all the crypto transactions on its metaverse. Now, here's the deal. The NEMS token will only be available to those who hold The Nemesis NFTs. You can grab it for just $0.15 per token. It's a pretty sweet deal if you ask me! With these tokens, you can also snag virtual real estate plots and build your own custom Metaverses. How cool is that?

Gala Games May Mayhem in full swing, Jeff Burton joins P2Earn, Mojo Melee Open Beta, ZooRacers test, Spider Tanks, and more Web3 gaming news. Another week full of exciting Web3 gaming news playtests, reviews, and new content has made the weekend all the while. The alpha and beta playtests for several games are already underway and there is plenty to keep the weekend fun. We have Gala Games May Mayhem, ZooRacers Beta testing underway, Mojo Melee beta, revenge zombies open beta, and more. Spider Tanks adds new content and updates to the game with May Mayhem. Finally, we have Champions Arena playtest 2.0, and P2Earn Inc hiring Jeff Burton. Our weekly newsletter bulletin covers all the essential updates happening in Web3. Let’s get straight to it and see how the week is so far in Web3 gaming.

Elon Musk, the CEO of Tesla and SpaceX, is one of the most influential and controversial figures in the tech world. He is known for his eccentric personality, innovative ideas, and bold statements on Twitter. However, there is another Elon Musk on Twitter, a parody account called "Bored Elon." Anonymous person manages this acccount who tweets humorous and satirical ideas for inventions. Bored Elon has gained a massive following on Twitter, with over 1.5 million followers. But what is the story behind Bored Elon, and how did it become a cultural phenomenon? The Bored Elon Twitter account was created in 2013 by an anonymous individual who wanted to parody Elon Musk's innovative ideas. The account started with a simple tweet that said "sometimes I get bored and invent things," which has since become the account's bio.

The emergence of decentralized gaming platforms that enable players to receive and exchange cryptocurrencies while engaging in gaming activities has been made possible by the advent of blockchain technology. P2Earn Inc., focuses on offering cutting-edge solutions on a global scale due to its commitment to quality and innovation. The company has grown to become one of the most recognizable companies in the industry. P2Earn.io stole all the limelight as Electronic Arts Co-Founder Jeff Burton joins this reputable web3 gaming guild. P2Earn, a web3 gaming guild, intends to provide players with an online platform, tools, and access to video game NFTs in exchange for a portion of their winnings. According to reports, the platform will go live on the Polygon Ethereum scaling network by the end of Q2 2023. Jeff Burton confirmed this incredible news in a statement: “I am delighted to join the advisory board of P2Earn, as play-to-earn gaming prepares to go mainstream. However, I believe that the concept of players earning a share of the profits through gameplay is the future.”

Trial Xtreme Freedom, the much-anticipated Web3 version of the popular dirt bike racing series, is getting ready for its closed alpha launch on May 3. Get ready to rev your engines and go on an exciting trip. Everyone is invited to sign up for the test, but only 5,000 people will be able to take advantage of this limited chance. They will be the only ones to try out the cutting-edge parts of the game. Get ready for an exciting experience that mixes NFTs, tournaments, and an interesting virtual world. With its new 3D tracks, Trial Xtreme Freedom ups the ante and gives racers a new, more realistic experience. The game builds on the success of the ones that came before it and adds a lot of fun new tasks. Also, there are moving trains, airplanes, tall trees, and even the jaw of a T-Rex to avoid. Each track has more than one way to win, so racers have to show off their skills and find the fastest way to win.