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

Sony PlayStation plans to examine the potential benefits and drawbacks of an NFT cross-platform system for gaming where players shall create, own, and trade digital collectibles and NFTs.PlayStation, one of the world's leading gaming console companies, has recently filed a patent that suggests the company is exploring the possibility of implementing an NFT (non-fungible token) cross-platform system for its games. The patent was filed in 2019 by Sony but was published by the US Patent and Trademark Office on March 16, 2023. Let’s explore what this patent entails and what it could mean for the future of gaming.The patent, titled "System and method for implementing a non-fungible token cross-platform system for games," outlines a system. A system that would allow players to trade in-game items across different gaming platforms using NFTs. The system would use a blockchain ledger to verify the ownership of digital collectibles. Moreover, ensure that the items being traded are genuine and not duplicated.

Sony Game Developers and Ex-EA Developers Comprise Avalon Corp TeamAvalon Corp.'s Digital Universe receives $13 million in funding to launch an AAA project in the Web3, metaverse, and blockchain gamingThe world is molding itself towards the crypto universe for investments as well as the future. Big companies are getting interested in blockchain and metaverse or AAA multiverse and looking for different ways to be a part of it. In a similar effort, Bitkraft Ventures has raised $13 million in funding along with other companies to fund Avalon Corp, a Web3 gaming startup working on Avalon universe. The companies included are Hashed, Delphi Digital, Mechanism Capital, Coinbase Ventures, and others. The round also received funding from some angel investors, including former Microsoft executive Charlie Songhurst and Twitch co-founder Kevin Lin.The big news is their team of developers, has worked in huge tech companies like Electronic Arts, Microsoft, Blizzard, and Sony. The studio's first game will be Avalon, which runs on Unreal Engine 5 and has some MMO and Web3 metaverse elements. However, CEO of Avalon Corp Sean Pinnock and Chief Product Officer Jeffrey Butler told Decrypt in an interview that they don't perceive Avalon as a metaverse. The main reason for the reluctance is how the term has been taken and misapplied in the digital world.Butler remarked of the term "metaverse" that "everyone's kind of leaping onto this word and just pounding the poor word to death," adding that practically every big brand, whether they be a fast food chain or fashion industry, has somehow associated themselves with the creation of their own metaverse.

Blockchain Technology, Video Games equals Earning Opportunities for every gamer! Play To Earn (P2E) Opportunities are all over in 2022.