On Friday, during the annual Game Developers Conference in San Francisco, the Web3 Games Collective, consisting of four blockchain game startups. They announced their mission to improve the growth and adoption of high-quality blockchain games in the games industry.
The founding members of the collective, including Yield Guild Games (YGG), aim to promote play-to-earn games. It will utilize blockchain technology and enable players to earn rewards from in-game activities.
The circulating supply and market cap of game assets, as well as the growth of the NFT marketplace, are also important factors in the development of blockchain gaming.
Web3 Games Collective
YGG, a popular games publisher in the Web3 space, has seen significant demand for its games and tokens. Many investors looking to buy Yield Guild Games in the past 24 hours.
The Web3 Games Collective, consisting of four blockchain game startups has been formed to create a series of successful blockchain games.
The companies made the announcement while the Game Developers Conference was going on. The founding members will use their combined knowledge and resources to improve the visibility. But also the availability, and long-term progress of promising and high-quality blockchain game projects.
The Web3 Games Collective comprises four blockchain game startups: Yield Guild Games (YGG), Game7, Magic Eden, and Fenix Games.
YGG is a decentralized gaming guild that aims to create a community of players who earn rewards by investing in and managing NFTs in blockchain games.
Game7 is a blockchain game developer that focuses on building play-to-earn games on the Ethereum network.
Magic Eden is a launchpad for high-quality Web3 games and helps developers with funding, marketing, and community building.
Fenix Games is a game publisher that aims to discover and scale the first mega-hit in the blockchain gaming space.
Together, these companies have formed the Web3 Games Collective to use their knowledge and resources. This way they can help high-quality blockchain game projects get found, distributed, and grow in a sustainable way.
Steven Chen, a core contributor at Game7, said that there has been a lot of focus on investing in infrastructure for blockchain games. Different teams are making big strides in addressing important problems in the technology and service stack.
It is also important to focus on making more high-quality games and intellectual property.
He further added that such a focus would eventually push the sector forward, as seen in the case of PC, console, and mobile games.
DappRadar says that blockchain games have been used by nearly a million different active wallets. Which is a good sign. However, this number only represents a fraction of the world's three billion mainstream gamers.
Gabby Dizon, co-founder of YGG, mentioned that discovering and accessing Web3 games is still a complex process. Unlike the more mature Web2 platforms like Xbox or Apple's App Store.
Therefore, collaborating with a DAO like Game7 and a game publisher like Fenix Games will allow YGG to simplify the landscape and foster the ecosystem's mass adoption.
The W3GC members aim to join forces to promote the growth and expansion of quality Web3 games. While simultaneously reducing the risk for investors, developers, and other partners within the ecosystem.
Rudy Koch, CBO of Fenix Games, stated that one of their objectives is to assist in discovering and scaling one of the blockchain's first mega-hits. Like what Clash of Clans achieved for free-to-play mobile games.
He also expressed that they are searching for elite game developers who are interested in Web3.
According to Chris Akhavan, Chief Gaming Officer at Magic Eden, everyone in the alliance believes that Web3 technology has a great potential. It could provide tremendous opportunities for game developers, gamers, and content creators.
He also acknowledged that the Web3 gaming ecosystem is still at an early stage. An alliance like this could significantly boost the success of game studios who are leading the charge as pioneers.
Additionally, he expressed excitement at the prospect of contributing to the success of games resulting from the W3GC alliance. This can be done by utilizing their Launchpad, marketplace, and marketing channels. This way they can assist the best Web3 games in the space in achieving impactful hits.
Yield Guild Games (YGG)
Yield Guild Games (YGG) is a decentralized autonomous organization (DAO) that invests in and manages digital assets in virtual worlds and blockchain-based games.
YGG aims to empower players to earn a sustainable income by playing games and contributing to in-game economies. As a community-driven platform, YGG enables players to pool resources, share knowledge, and collaborate on game-related projects.
Game7 is a blockchain gaming platform that allows game developers to create and monetize their games using Web3 technology.
Game7's infrastructure provides developers with the necessary tools to build, test, and deploy blockchain-based games. Allowing them to focus on game development instead of blockchain integration.
Additionally, Game7's platform enables players to buy, sell, and trade in-game items and currencies across multiple games.
Magic Eden is a blockchain-based marketplace that facilitates the exchange of non-fungible tokens (NFTs) and in-game assets.
The platform enables users to buy, sell, and trade NFTs across multiple blockchain games and virtual worlds. Magic Eden also provides users with a suite of tools to manage their NFTs. Such as a digital wallet and portfolio tracker.
Fenix Games is a blockchain game development studio that creates high-quality games using Web3 technology.
The studio focuses on developing games with engaging gameplay mechanics and compelling narratives that leverage blockchain's unique features.
Fenix Games aims to create games that appeal to both blockchain enthusiasts and mainstream gamers, with a focus on mass adoption and long-term sustainability.
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