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- Nostalgic 90s pet game Neopets is metaverse-ready with $4M funding
Nostalgic 90s pet game Neopets is metaverse-ready with $4M funding
Twitch co-founderās gaming NFT marketplace expands to Polygon, game developers lukewarm on metaverse concept, plus more top stories
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š² By the numbers
The Games Developers Conferenceās 2023 State of the Game Industry Survey questioned 2,300 game development professionals, 2/3 of whom have worked in game development for 3 to 20 years, and saw prevailing attitudes toward the metaverse and blockchain in the profession. (Source)
The global metaverse industry, of which the MENA region is a leading investor, is expected to generate revenues of $966B (Dh3.55 trillion) worldwide by 2030. (Source)
š« News & trends
As the iconic 90s pet game woos the new generation, renowned virtual pet game Neopets raises $4M from various Game-Fi brands - including industry leaders Polygon, Hashkey Capital, Blizzard Avalanche Fund, and NetDragon Websoft - to enter the metaverse. With this latest funding round that follows the success of Neopets Meta Alpha: Winter Edition, over 150 million fans worldwide will soon be able to raise their digital pets once more in a new web3 universe.
Now the Neopets Metaverse project seeks to fuse the power of the metaverse with the digital pet experiences, allowing players to fully own, monetize, and engage with the game in unprecedented ways. It will be a free-to-play game accessible to crypto enthusiasts, casual players, and fans alike, and thanks to the addition of blockchain technology to its gameplay mechanics, players can also build, own, and monetize their gaming experience. The metaverse game, too, involves minigames, PvP battles, as well as a unique Neopet care and customization system.
To the uninitiated, the original Neopets is a classic web browser game founded in 1999. The funding allows Neopets Metaverse to ābridge generations between gaming,ā where old-time players revisit their long lost pets while new players gain a new Neopian experience.
Fractal, the platform for game-related NFTs developed by Twitch co-founder Justin Kan, is expanding into the Polygon network to bolster accessibility. The platform launched on the Solana blockchain in December 2021, raising $35M in a seed round and now hosting dozens of web3 games, NFTs, and tournaments on its site on top of offering a suite of developer tools to help onboard new creators.
Expanding into Polygon, according to its statement, will help it "focus on user acquisition and provide the blockchain tooling and financial infrastructure necessary to spur successful game development." Its F Studio product suite will also now offer a Polygon-based launchpad, marketplace, tournaments, developer SDK, game launcher, and sign-in with Fractal service.
Polygon Ventures, the company behind the Ethereum scaling system, will also be making an unspecified "strategic investment" in Fractal to help expand its services. Of Polygon's top games, 30 will work with Fractal on a campaign of tournaments and activations to lead up to the Game Developer Conference this March.
A recent survey just dropped revealing game developersā lack of interest in the metaverse and blockchain. The Games Developers Conferenceās 2023 State of the Game Industry Survey, which featured respondents from the likes of Epic, Meta, and Microsoft, displayed some telling statistics:
61% of developers were opposed to using blockchain technology in their future games
45% of game developers do not believe the metaverse concept will ever deliver on its promise
The results indicate that there may be a lack of understanding of the technology and its potential applications in the game development space, as well as some ongoing concerns such as the high cost of hardware.
On the bright side, almost a quarter of devs did express interest in using cryptocurrency, NFTs, and web3 to support their games. As the adoption flywheel starts to spin we expect these numbers to change drastically in the coming years.
Web3 gaming studio Mythical Games is rolling out its new digital game asset marketplace called Mythical Marketplace 2.0 and acquiring gaming asset platform DMarket to help build out the new product. DMarket will provide Mythical with the infrastructure for the marketplace to allow users to purchase gameplay assets, incorporating DMarketās anti-money laundering and fraud protection standards as well as fostering a community-oriented marketplace focused on digital ownership. Mythical Games CEO John Linden told CoinDesk that the new marketplace will āusher in a new digital ownership economyā while it onboards new gamers into web3. Since Mythicalās Ethereum-compatible chain went live six weeks ago, it has processed over two million transactions, although it continues to feel the effects of a prolonged crypto winter and market uncertainty.
ā¬ļø Blockchain gaming goes mainstream: Nefta and Gamiās partnership simplifies the jump to web3 gaming
In a move to make web3 gaming more accessible to millions of players, Nefta and GAMI have announced a partnership where blockchain-based tech firm Nefta will provide the backend architecture while GAMI, a company that produces accessible and enjoyable games, will focus on game development. Nefta's technology allows players to earn and own in-game items without having to connect a wallet. Its platform also provides game developers with insights into blockchain game economies, monetization, and user analytics. GAMI's upcoming game, Knockout Wars, will allow players from different blockchains to play together without the need for new wallet sign-ups.
While the partnership is poised to bring a new level of accessibility and engagement to the world of web3 gaming, itās worth noting that some players may be hesitant to get into the web3 gaming space due to the complexity of the technology and concerns around security. However, with combined expertise in partnerships like this, the concerns stand to be promptly addressed and web3 gaming might just become a mainstream reality sooner than later.
LightningWorks, a company specializing in comic NFTs and web3 gaming, has launched what it dubs the world's first interactive comic book in a collector's release on Ethereum. The comic book Siege Worlds Zero is also a synergetic video game created by top industry artists. The team behind the project includes DC Alfonso, who co-created Avengers Unlimited, and DG Franchin, who has drawn pages for X-Men and Spiderman for Marvel Comics. The music department is advised by Bassy Bob, a winner of multiple Grammy awards. The comic book uses blockchain technology in a unique way, allowing players to find "Easter eggs" and use them as NFT weapons within the game. The weapons are related specifically to the characters in the story and will only be available once, by minting the comic or buying it from other players on an open market like OpenSea.
Taunt Battleworld, an upcoming digital collectible fighting game that combines gaming and live viewership, is powered by the patented Taunt LIVE platform, which allows for real-time interaction between players, observers, and the game. The game features a "Black Magic" collection which includes rare playable characters such as Floyd Mayweather Jr, Cris Cyborg, and Andy Ruiz Jr. Players can collect, own, and trade these characters as assets and use them to compete in the game's battles. Taunt Battleworld offers a unique gaming experience that combines the excitement of predicting the outcome of real-world sporting events with the thrill of owning and trading digital assets.
Web3 gaming studio InfiniGods has announced the public launch of InfiniMerge, a free-to-play merge game set in an ancient Greek landscape with a focus on building and adventure. InfiniMerge is the first game from the studio, which launched in 2022 with $9M in seed funding. Since coming out of beta, InfiniMerge has attracted over 1,000 players with a day-one retention rate above 40% and a day 7 retention rate of 10%, according to its press release. The InfiniGods team has observed much higher retention rates than similar puzzle games, with NFT holders in particular playing more often than non-NFT holders. InfiniMerge is touted as a āfresh take on casual puzzle games inspired by Candy Crush, Triple Town and City Block.ā In addition, the game benefits from the instant feedback loop afforded by web3 gaming, where a dedicated Discord support channel has helped developers identify bugs and implement quick improvements based on community feedback.
Advanced XR Vtuber virtual concert platform Vapollo Group - a globally positioned XR developer providing technology across the augmented reality (AR), virtual reality (VR), and mixed reality (XR) spaces - has announced its foray in the web3 world through its new web3 game studio establishment Vato Labs.
The web3 gaming studio will assimilate all web3 efforts under one umbrella and is set to launch the 2D party game Looki Looki Jazzi on RACA3.com and USM.world virtual world metaverse, where RACA will be the payment token of the games. Looki Looki Jazzi, which aims to be the web3 equivalent of online social game Goose Goose Duck, will provide customizable options for players such as in-game characters-avatars and skins for partnered virtual YouTubers (Vtubers).
Vato Labs is also set to appoint overseas and international gaming influencers, Youtubers, and streamers as game design consultant and game tester during the development process of their featured game.
Web3 funding in 2023 is off to a good start with news like Createra and a16z raising $10M to develop a Gen-Z gaming metaverse. Createra is a web3 organization that specializes in helping creators to create, engage, and distribute value in 3D worlds, and it has seen a huge opportunity to engage with digital natives as they value and understand content creation and monetization. Createraās cloud-based web engine has also created an easy-to-implement system for game developers while infusing web3 features into it, a press release noted, adding that for users of the platform, all assets built on the land of the virtual game including avatars, games, and APIs are tradable.
Bunny Riven, a blockchain game that boasts unique 3D graphics, has officially launched. The game utilizes blockchain technology and non-fungible tokens (NFTs) to offer players a new level of engagement and monetization. One of the key benefits of integrating blockchain technology and NFTs into the game is that players can network with others and be rewarded for their time and effort; players, too, can earn rewards for holding the game's native token $BRV. The team behind Bunny Riven is also working to develop and update the beta game to support users on all devices running Android and iOS. Take note, though, that as with any new token that has just been listed, players should proceed with caution when purchasing $BRV and research to make informed decisions. Bunny Riven emerges as an exciting new development in blockchain gaming, and we will continue to keep an eye on its progress.
Keen to bring cutting-edge gaming experiences to the decentralized metaverse, MTWorld and Avatar Game Studio are collaborating: MTWorld will provide a decentralized and open environment for users to create, share, and monetize their virtual content, and Avatar Game Studio with develop and publish blockchain-based games for unique, engaging gameplay. The collaboration will see Avatar Game Studio creating and publishing games specifically designed for the MTWorld metaverse, leveraging the platform's decentralized infrastructure to offer true ownership and trading of in-game assets. Players are bound to have true ownership of their virtual items and the ability to trade them on the open market. However, it should be noted that no specific titles or release dates for the games have been announced yet, and the collaborationās success in attracting a wider audience of gamers remains to be seen.
Play-and-earn gaming company Kryptomon and Habbo X have partnered to launch a mobile AR treasure hunt game, where players will be able to exchange virtual treasures for exclusive co-branded t-shirts, hoodies, and an NFT version of the co-branded hoodie. The game will be available on both iOS and Android devices, making it accessible to a wide range of players. After the treasure hunt, Habbo will host an after-party in its metaverse, where players can gather and celebrate their success, socialize, and interact with one another while enjoying the game's rewards. While the partnership is exciting, it's important to note that not all players may be able to access the mobile app, and some players may not be interested in the rewards offered.
gDEX and MetaForest have partnered to integrate MetaForest World into the gDEX Metaverse, which promises players a seamless gaming experience across different games and platforms. By using the Metaverse Passport, players can take ownership of their gaming experience, have access to a wide range of games and experiences, and keep track of their progress, items, and rewards across different games.
The Metahub - a new feature that will be introduced as part of the partnership - allows players to earn rewards for completing missions that promote community growth, which include inviting new players, creating content, and organizing events.
Unfortunately, not all games will be compatible with the gDEX Metaverse and some players may not be keen on the rewards offered by the Metahub. Hence, gDEX and MetaForest are working on expanding the number of compatible games and providing a wide range of rewards to cater to various players' preferences to offer the best possible gaming time.
AD Gaming and AA Meta are partnering to provide next-generation gaming solutions to the Emiratesā gaming industry by utilizing AA Meta's expertise in metaverse infrastructure and web3 technology. This partnership seeks to capitalize on this growth by bringing cutting-edge technology to the local gaming scene. AA Meta recently launched the massively multiplayer online role-playing game (MMORPG) Thunder Lands, which allows gamers to earn cryptocurrencies through in-game activities. This not only adds a new level of engagement for players but also allows them to be rewarded for their time spent in the game. The global metaverse industry, of which the MENA region is a leading investor, is expected to generate revenues of $966B (Dh3.55 trillion) worldwide by 2030.
šļø The Lost Kingdom of Tāsara
A new adventure game, The Lost Kingdom of TāSara (LKoT), is making waves in the metaverse. This free P2E resource-gathering game supports the Aftermath Islands Metaverse and offers players the opportunity to earn valuable in-game resources. In LKoT, players gather raw resources that can be turned into Resource Pack NFTs, which can then be used in the Aftermath Islands Metaverse to purchase upgrades and other items or can be minted into NFTs for use in the same virtual world. Additionally, players can earn tickets for every 500 Resource Pack NFTs they generate, which they can use to enter special in-game events and buy special items. This creates a unique opportunity for players to earn valuable resources and items in one game and then use them in another.
šø Finance buzz
Neopets, the popular virtual pet game from the 90s, has raised $4M from various gaming companies to enter the metaverse. This fresh development on the game, which has over 150 million fans worldwide, will allow players to raise their digital pets in a new web3 universe. (Source)
Web3 projects are receiving more attention in 2023 as seen with the recent $10M funding raised by Createra and a16z to develop a gaming metaverse for Gen Z. Createra is a web3 organization that specializes in supporting creators in creating, engaging, and distributing value in 3D virtual worlds. (Source)
š£ļø Quote of the week
āWe believe that GameFi plays a crucial role in the larger metaverse narrative, serving as the interactive layer in the value chain and a key driver of traffic across web2 and web3. The Neopets IP, in particular, has a massive fan base and we see great potential in its NFT and P2E features, which allow gamers to truly own and control their assets.ā
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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