Asia's Gaming Giants Are Investing In Web3

Gm Gm! Nobody is a fan of Mondays, but think of today like a game of Minesweeper. Where each task we complete and decision we take is like revealing a square, leading us closer to our final victory! 💣🎮

For today

• Asia's Gaming Giants Are Investing In Web3

• Funded Gems

• A New Chapter For Ronin and Axie

• The Sneakies

Asia's Gaming Giants Are Investing In Web3

Buckle up, Web3 gamers and developers, as the future of gaming is about to get a massive boost.

Asia continues to run web3 gaming

Here's the scoop: Cointelegraph dropped the bomb that big names like Tencent and Nexon are investing some serious dough in Web3 tech.

This Web3 Asia trend is only continuing into 2023 as harsh regulation continues in the USA.

Fun Fact: Almost two-thirds of the largest gaming companies in the world are from China, Japan and South Korea.

So what?

The entry of these influential companies could be another step towards mass adoption of Web3 tech in gaming.

More gamers can look forward to true ownership of in-game assets, cross-game interoperability, and more transparent economies coming out of Asia in the next few years.

For Devs, this could be a sign that the ever trudging crypto winter is beginning to thaw. Seeing large companies make moves like this is a Big W for the overall markets confidence. At least in Asia...Web3 Innovators in The US be like...

Z Times: Gaming avengers assemble!

But wait, there's more!

Asian gaming giants are eyeballing global markets to propel their Web3 gaming adoption too.

Z Times, the Web3 gaming arm of Giant Network (Chinese Gaming Company), is rolling out and bringing together a dream team of over 100 expert game developers and researchers.

Why?

To create Web3 games and support them, all while giving full control to the players.

It's like the Avengers of gaming, minus the spandex and capes.

Z Times is all about building a Web3 gaming ecosystem that puts game asset ownership back in the hands of players and lets in-game items be traded freely.

I'm Down With That...

Plus, they've already announced 2 Titles.

• The Road of Conquering — a massive-multiplayer online game

• The Wandering Giant — a strategy game that integrates NFTs

Lootbringer take

Asia is cooking with gas. Big gaming giants enter the Web3 arena, and the gaming landscape is poised for a massive shift. It's an exciting time for gamers and developers alike, with new opportunities and challenges on the horizon. Will Web3 gaming become the new standard, or is it just a passing fad?

Funded Gems

You know the deal, it's time to open that briefcase...Not a lot of rounds closed last week let's see who won big for Web3.

• Metacade's Pre-Sale Success: Metacade managed to raise over $14.7 million in funding with their pre-sale set to close in just 72 hours. With this impressive achievement, they're preparing to make waves in the Web3 gaming world. Read more

• Alchemy Pay's South Korean Expansion: Alchemy Pay successfully raised $10 million at a $400 million valuation, with plans to push its expansion into the South Korean market. Read more

• Ledger's $109M Funding Round: Crypto wallet provider Ledger raised a whopping $109 million as the demand for self-custody soars. With the increasing interest in self-custody solutions, Ledger's success might positively influence the Web3 gaming ecosystem. Read more.

A New Chapter For Ronin and Axie

What's dead may never die right? Axie Infinity, the play-to-earn sensation that took the world by storm, is entering a new era! Let's dive into what's going down.

Axie Infinity: From boom to bust and back

Remember when Axie Infinity was all the rage, with a whopping 2.3 million daily players in January 2022? But then, a $620 million hack on their Ethereum-linked sidechain Ronin hit them hard, and the player base dropped to just 260,000 daily users.

Ouch!

Sky Mavis bounces back with Ronin upgrade

Sky Mavis isn't backing down, though. They've announced an upgrade to Ronin, shifting to a delegated proof-of-stake (DPoS) model.

This means that anyone with enough RON (Ronin's native token) can become a validator and produce blocks. The new Ronin is all about opening up the ecosystem to more users.

After a massive hack last year, a priority for Sky Mavis had to be restoring confidence in the chain. Good Move.

Building a gaming ecosystem on Ronin

But wait, there's more!

Sky Mavis is partnering with four gaming studios to build on top of Ronin, and some will even use Axie Infinity's IP.

We're talking big names like Bali Games and Bowled.io, along with Directive Games, which is launching a playable title called The Machines Arena.

Your take

So, what do you think about Axie Infinity's new chapter and the gaming ecosystem being built on Ronin? Are you excited or skeptical? Share your thoughts in the comments below! And don't forget to subscribe to Lootbox for more Web3 gaming updates and news. Game on!

The Sneakies

DAOs on Trial: The Big Question of Founders' Liability The big question about DAOs and their founders' liability has finally landed in court! A recent CoinDesk article highlights the potential legal challenges that DAOs and their founders could face.

It's definitely a case worth watching, as it could set a precedent for future DAO-related disputes.

Epic Games' Tim Sweeney Talks Fortnite and the Metaverse Vision In an interview with The Verge, Epic Games' CEO Tim Sweeney shares his thoughts on Fortnite's future and the potential for the metaverse.

He's got some interesting insights on how gaming can shape the virtual world, so don't miss it!

Arbitrum's Voting Fiasco: Foundation Promises a Do-Over Arbitrum Foundation faced a major backlash from ARB token holders after a controversial vote. According to a recent CoinDesk report, the foundation is now scrapping the vote and promising a redo.

It's a classic case of "if at first you don't succeed, try, try again."

New Bribery Allegations Surface for Ex-FTX CEO Sam Bankman-Fried Sam Bankman-Fried, the former CEO of FTX, is facing new bribery allegations, as reported by BlockZeit. The story is still developing, and it's too early to tell how this might impact the charges already against SBF and the overall industry. Stay tuned for updates!

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