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

The luxury fashion brand Gucci strengthens its commitment to the metaverse as evident in its recent decision.

Animoca Brands joins hand with Hong Kong venture accelerator Brinc to invest and start a new Guild Accelerator Program.

In February, GALA Games experienced remarkable growth, with its value surging by 117%, defying criticism from mainstream sources. Despite challenges in the cryptocurrency and NFT markets, the play-to-earn (P2E) gaming sector demonstrated its resilience, with certain P2E games maintaining their economic systems amid the crypto market downturn.GALA Games, a prominent player in the P2E sector, has been a standout success. GALA enables players to have control over P2E games, gameplay mechanics, and in-game assets through blockchain technology. According to data from Cointelegraph markets pro and Tradingview, GALA's price increased by 117% from its low of $0.177 at the beginning of the month, reaching a peak of $0.384 on February 7th.Several factors contributed to this substantial increase and recovery. The P2E gaming sector is experiencing steady growth, with numerous new projects being launched, including GALA's support for upcoming titles like Spidertanks and Legends Reborn. The company's expansion into new ventures and partnerships also boosted investor confidence. Gala Games partnered with the 888innercircle community on Twitter, which comprises over 205,000 members interested in NFTs and digital collectibles. Additionally, GALA teamed up with Betwixt, a mental health gaming application, with Gala committing $1 million in funding.GALA's dynamic ecosystem, characterized by innovative user approaches, played a significant role in attracting more users. The introduction of new avenues for earning yield through gameplay and running Gala nodes contributed to the steady growth in user numbers. As of February 7th, the number of GALA users had tripled to reach 122,230, a substantial increase compared to the count on November 7th. This impressive performance underscores the resilience and potential of both GALA Games and the broader P2E gaming sector.

Crypto and gaming nexus is getting a solid expansion with FTX crypto exchange launching its gaming department.

Axie Infinity Deploys Desperate Changes to its Resuscitate its Limping Economy.Axie Infinity, the torchbearer of P2E, decides to implement a few changes to its economic model after plunging stats of its token price, NFT valuation, and trading volume. After its astronomical popularity last year, this is the first time the game suffers a decline in popularity.Axie Infinity changes its economic systemThe Ethereum based game enjoyed massive success last year and racked up almost $4 billion in NFT trading volume.However, things went south lately for Axie Infinity as its token and NFT values took a downfall. The plunging values of the game have put the entire play-to-earn model into question. Assessing the failing economy of the game, the creators of Axie Infinity have decided to introduce changes designed to bring the game economy back to life.The prime change is related to SLPs where the game will reward fewer SLP tokens. Moreover, the game will focus more on online arena battles and their rewards. The changes will go live with the game’s 20th season on both mobile and PC.As of now, Axie Infinity requires a player to buy its NFT assets which are known as Axies. To begin playing the game, a player needs to buy at least three of these NFTs. The player then earns by breeding and battling monsters which yield token rewards.The P2E model of Axie Infinity also resulted in community-based scholarship programs. These scholarship programs worked in third-world countries where NFT asset holders rent Axies to players in return for a cut in token rewards. This scholarship program also played a massive role in Axie Infinity’s success last year.Axie Infinity changes its economic systemHowever, the momentum quickly took a plunge, and the game’s token SLP decreased below $0.10. The falling value of the token put a massive strain on the scholarship guilds.Moreover, AXS also plunged nearly 70% when compared to its peak value. Its NFT trading volume decreased from $754 million in November to $301 million in December.And to top it all off, Sky Mavis’ data shows a drop in concurrent players from a peak of 2.7 million in November to 2.2 million at the end of January.Every day the latest video game news about the gaming industry. Video games news on NFTs (non-fungible tokens, NFT, NFT’s) , Play to Earn (P2E/Play-to-Earn), crypto games and crypto currencies, gaming guilds, Metaverse, VR, AR, AI, Virtual Worlds, Avatars, Digital Assets, In-game digital currencies, Web3 development, Blockchain based video games and its transactions and payments in the games.Entertainment and all the big tech companies and technology behind it. Hyper Casual Games and the game studio’s that lead the way. Mobile games, PC games and Console Games and their vision on cloud gaming, streaming, esports and gamer communities. Online digital entertainment like movies, music, concerts, art and top brands such as fashion and much more that connect with video games in the metaverse.If you want to stay up-to-date of my daily game news, then follow me on Google News.

The winter holiday season is well underway, and several play and earn games are coming with their alphas, new features, NFT rewards, and updates. Also, our favorite characters from childhood, the Smurfs, have shown up in the popular blockchain game The Sandbox. And finally, we see DeGods and Y00ts migrating from Solana to Ethereum and Polygon. We will see how this decision impacts Solana and why Dust Labs took the decision to migrate. Stay with us until the end as we wrap up this week with all of the important updates in one place for you to keep up with what's going on in the Web 3.0 gaming space.

Play-and-earn games are games or activities that allow players to earn rewards or money through their participation. Check our games list!

NFT Video Games worth your money and time, is a question asked much lately! Video games are one of the first ones to adopt the NFT's.

PUBG NFT Metaverse is coming! PUBG’s parent company Krafton decides to test the waters of the metaverse for their games.

WAM.app is a social play-to-earn hypercasual gaming platform. Win NFTs and digital collectibles by playing your favorite games on mobile against real people.

Step into the world of Medieval Empires: Ertugrul, a groundbreaking blockchain game that combines historical narrative with modern technology. Set in the late 13th century, this "play-and-own" multiplayer online strategy game lets you build your own empire, lead forces into battle, and explore a richly detailed historical landscape. Inspired by the popular TV series "Ertugrul Gazi," the game features characters voiced by Engin Altan, adding an authentic touch. Choose from diverse factions like the Turkic tribe or English crusaders, and immerse yourself in a world where every asset, including land, can be owned as NFTs. With $MEE tokens driving the in-game economy, players can trade, build, and earn in this dynamic digital ecosystem. Dive into the adventure of God, glory, and gold, and experience the medieval era like never before.

Why are esports tournaments required for play-to-earn and blockchain games, and how can they help Web 3.0? The importance of esports in video games!

Check out this game review of Benji Bananas by Animoca Brands, a mobile platformer/runner action game that uses physics and is play-to-earn and free to play

In 2024, the gaming world is abuzz with the potential of NFTs (Non-Fungible Tokens), as they continue to be at the forefront of technological trends alongside cryptocurrencies and the metaverse. While these concepts have garnered considerable attention, their impact on the gaming industry remains uncertain. This summary delves into what NFTs might bring in 2024 and assesses the stance of major gaming developers.NFTs have been touted as the future of gaming, but skepticism abounds. Some fear that gamers may prioritize trading digital assets over enjoying actual gameplay, raising concerns about the industry's direction. Additionally, the environmental consequences of increased blockchain transactions are a pressing issue.Currently, several games support NFTs, including DeFi Kingdoms, Splinterlands, Bomb Crypto, and Axie Infinity, experiencing success in terms of trading volume and popularity. However, mainstream games have yet to fully embrace NFT integration, despite widespread interest in NFT and blockchain gaming.Notable developers in the industry have varying perspectives on NFTs:Ubisoft's CEO supports NFTs and blockchain integration, already introducing NFTs in Ghost Recon: Breakpoint.Electronic Arts (EA) expresses promise in NFTs but has not made any public commitments.Sony, through its subsidiary Sony Pictures, has introduced Spider-Man NFTs.Capcom licensed Street Fighter for an NFT card collection.However, other major players like Take-Two, Sega, Epic, and Square Enix are cautious and have not announced NFT projects. Valve has actively barred NFT games from its market, while Microsoft's Phil Spencer appears unimpressed by blockchain and NFTs.In 2024, the gaming industry is immersed in discussions about NFTs, Play-to-Earn (P2E) games, cryptocurrencies, the metaverse, VR, AR, AI, and various other technological advancements. This evolving landscape is closely monitored by enthusiasts and industry professionals alike, as gaming continues to intersect with entertainment, technology, and the broader digital world.

According to a recent survey, Web 3.0 game developers intend to continue developing Web 3.0 games in the future. The gaming industry will change thanks to Web 3.0 technology.