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Dragon Ball rages into the metaverse
Roblox harnesses generative AI, Tencent dissolves VR segment, plus more top stories
🎮 Metaproof Gaming
Hey frens, this is Jacob from 🎮 Metaproof Gaming, the weekly newsletter where we keep you informed on how the metaverse and web3 are changing the gaming industry.
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📲 By the numbers
The PC game market has exploded in recent years with global revenue approaching $40B, with games like Fortnite and League of Legends attracting 10s of millions of users. (Source)
In 2021, PC game provider Roblox had a record IPO of over $30B, with analysts closely watching the next big opportunity for established players in the PC game space like Valve, Epic Games, Activision Blizzard, Tencent, and Nexon. (Source)
The Norwegian police made its largest crypto seizure ever of $5.9M, stolen from Axie Infinity by North Korean hackers in March 2020. The US Treasury Department sanctioned the privacy mixer used to launder the proceeds, and a UN report indicated North Korea stole up to $1B in crypto last year used to support its weapons programs. (Source)
📫 News & trends
The Sandbox and Toei Animation have partnered to bring the globally famous Dragon Ball IP to the virtual world. This collaboration marks a significant step in the growth of the Ethereum-based metaverse gaming company, which has been striving to create an engaging virtual world for its players. With Toei Animation, a leading anime production house that is home to many classic IPs like One Piece, Sailor Moon, and Yu-Gi-Oh! onboard, The Sandbox’s virtual world is anticipated to become more vibrant.
The Dragon Ball IP itself has already seen collaborations with renowned names like Funko and Fortnite. It will be interesting to see how this partnership brings the beloved brand to life in the virtual realm, as Toei Animation's Dragon Ball has been airing in Japan since 1986 and is arguably the most popular anime show of all time. The manga or printed comic has sold over 300 million copies worldwide since its debut.
Roblox is testing a groundbreaking new tool that uses artificial intelligence (AI) to write code for in-game objects which could revolutionize game development, allowing developers to create more dynamic and interactive games than ever before. Generative AI could change how objects behave within a game, and potentially open up new possibilities for developers.
Microsoft and Amazon have already released their own versions of these tools, which can automatically generate useful blocks of software that would previously require manual coding. Roblox's AI system is the first of its kind to be designed specifically for game development, with the potential to make game creation faster and easier than ever before.
Tencent Holdings, touted as the world’s largest video game publisher, has recently dissolved its virtual reality (VR) division, citing high costs and a long timeline to profitability. Some details we know so far:
This news comes at a time when Sony's revamped PSVR2 is being released, delighting gamers worldwide.
Tencent’s Extended Reality (XR) team, not expected to be profitable until 2027, is denied by the company as set for dissolution despite reports that Tencent is doubting its gaming and non-gaming software.
Tencent reportedly planned on competing with Meta and Microsoft, which have hardware and software VR platforms. In November, though, Meta laid off 11,000 employees, including an unknown number in its Reality Labs division, while Microsoft then laid off entire divisions working on VR in January 2023.
It's an uncertain time for those in the VR industry, but it's clear that the technology has been gaining ground in recent years. With the rise of 5G networks and advances in AI, we may be seeing a new era of gaming and entertainment based on virtual reality - interesting to see how things pan out in this space.
The recent $15M Series B funding raised by Mino Games, a mobile NFT gaming startup, is a testament to its commitment to creating the best gaming experience for their players. With this fresh funding, the team at Mino Games is planning to launch its debut metaverse franchise Dimensionals: Heroes of The Multiverse, which promises to bring together gamers from all around the world and create a powerful community where they can have fun. The team is also focusing on introducing a free-to-own gaming model, which will make it possible for everyone to enjoy their games without having to pay anything extra. This is an exciting development and it will be interesting to see how this franchise shapes up in the coming months.
The potential is huge. The new McKinsey report titled Value Creation in The Metaverse noted that the metaverse's growth is largely being driven by the gaming industry, as shown by the influx of new brands into the metaverse space. The potential impact of the gaming-driven metaverse on related industries is substantial, as major gaming companies are creating their own virtual worlds to provide players with immersive experiences. This has led to significant investments that potentially transform the digital economy.
However, for the metaverse to reach its full potential, certain technological challenges must be addressed; technologies such as 5G and 6G, omni treadmills, and AR/VR glasses need to become more widely accessible and affordable to allow more people to enter the virtual world. This could be particularly beneficial for businesses seeking new ways to engage with customers and provide unique experiences.
Japan’s renowned anime studio Toei Animation has launched a new venture called ONN'ON STUDIOS and is planning to organize its first-ever Watch Party on VRChat. The studio has produced popular anime shows like Dragon Ball, Transformers, Digimon, and Sailor Moon. In collaboration with Sony, the event will take place in the virtual world of Nostalgia1999 and will allow fans to view anime films from the 1990s lineup using a digital recreation of Sony's Trinitron color television KW-28HDF7. Hiromi Seki, a co-creator of the popular Digimon Adventure and Magical Doremi series of animations, will also be present at the event to explain the story behind the titles. The event will host six VRChat anime parties on Fridays from February 24 to March 31.
Specialty apparel retailer Pacsun is launching a new virtual environment called Pacsun Los Angeles Tycoon on the Roblox gaming platform, allowing users to build their own virtual map of Southern California. Fans of the brand can now explore a 3D immersive experience on Roblox, where they can construct their very own virtual malls and unlock dedicated pieces of Pacsun stores. As an added bonus, Pacsun is offering 20 digital items inspired by its upcoming spring 2023 collection. Players have the chance to explore and create their own unique Pacsun-inspired world, a great opportunity for them to show off their creativity while staying connected to their favorite brand.
🏃♂️Quick hits
Mobile gaming and e-sports company Fragbite Group's subsidiary Lucky Kat has signed an agreement with blockchain-based virtual world The Sandbox to build a multiplayer parkour-themed obstacle course template to be released as a standalone experience.
AXA France has debuted its meta-gaming experience Axadia in The Sandbox metaverse, becoming the first insurance and banking player to enter the virtual world.
The rise of VR and AR is translating to more immersive gaming, with games like Among Us, Resident Evil, and Sniper Elite leading the charge in delivering standout metaverse experiences.
Japanese conglomerate SoftBank will become an official network validator on gaming network Oasys and will explore further collaborations with the company, including developing new blockchain-based services.
Card game and derivative collection marketplace Stradall has launched an automotive crypto game trading card platform based on prestigious and iconic cars, enabling users to create teams, garages, and earn royalties with its native token Metanol.
💸 Finance buzz
The PLAY-TO-OWN (P2O) mobile game metaverse Kingdomverse, which raised $3.6M in 2022, is set to list its native token $KING on Tier 1 centralized exchange Gate.io, initially to be used to purchase in-game items. (Source)
Gaming startup Improbable, whose blockchain project has been valued at $1B, got backers pledging approximately $150M to its new project dubbed as M². (Source)
🗣️ Quote of the week
“We’re on the cusp of the next era in gaming where blockchains will power in-game economies, aligning the incentives of players with those of the game developers.”
All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.
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If you are a startup building in the metaverse / web3 ecosystem and are raising capital, please reach out to Sfermion. Sfermion is an investment firm focused on accelerating the emergence of the metaverse.
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