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Still Reviving an Economy And A New Kid on the Block
Mark Kennedy
October 31, 2022
Happy Monday to you! Before heading off to that much-anticipated tuna sandwich, we have some food for your thoughts. Let's get to it.
Reviving an economy is hard
Although we have seen the way Web3 games rise and fall before, the meteoric rise and subsequent destruction of Axie Infinity is on a lot of minds this month. Some may have considered Axie to be in the "Safe Zone" of Web3 with a strong community, and a captivating project, being on the Axie train seemed to be the right move.
However, as we have seen over the last few months, many have suffered in this bear market from the flaws in their game economies and tokenomics. Axie itself has been subject to a hyperinflationary system, that has all but tanked its earning potential for users. This can be soon most heavily in their recent user metrics below according to activeplayer.io.
Live players - 125,658
Active players 30 days - 680,144 down from a high of 2,317,111
Despite several attempts at fixing the inflated supply of SLP (Smooth Love Potion), It seems Sky Mavis' plans only aggravated their fanbase, as neither the increase to marketplace fees (which has been walked back) nor the V3 origins release has done anything for the token economy. Many now await a resurrection of the game economy, while Axie's parent company Sky Mavis scrambles to deal with this crippling issue. However, I like to hope against hope, as does Sky Mavis' Aleksander Larsen who had this to say.
“We view Axie as a game that uses blockchain technology and NFTs to create a more engaging and fair game. This is also likely where the industry is headed, more quality products.”“More focus on live operations with tournaments and quests which keeps the game fresh.”
New Web3 mobile platform coming from Asia
Singaporean mobile game company Storms has announced their new blockchain-integrated mobile gaming platform. Storms will partner with blockchain company ImmutableX, providing infrastructure support for this integration.
The new platform is called "KYO" and the platform has ambitious goals. Storms has already secured licenses for major franchises to appear on their platform. The company has assembled more than 60 instant and native games, and obtained exclusive licenses to popular IPs including Halfbrick Studios (Fruit Ninja, Jetpack Joyrides) and Voodoo Games (Helix Jump).
Storms have also secured other major stakeholders in the KYO platform, like “iCandy". ICandy is the largest independent game developer in Southeast Asia and is backed by Web3 gaming company Animoca Brands. Needless to say, it seems Storms is set to bring the thunder with the release of the KYO platform in early 2023.
“From traditional gaming to Web3 gaming, Storms remains committed to delivering quality and frictionless gaming experience for billions of players, and I am happy that ImmutableX shares the same vision."
Want to know more? Follow the full story HERE.
The Sneaky News You Might Have Missed
Gaming giant KONAMI has been "conducting research and development to incorporate the latest technology into games and contents," according to a company press release, and plans to launch a service where "players can trade their in-game NFTs (digital items) through a unique distribution platform using blockchain". Follow the story HERE.
Flowstate Games unveils Web3 arcade game Smash Stars: Thunderdome and secures $2M funding. Smash Stars: Thunderdome is now set up for an alpha launch in the first quarter of 2023. Follow the story HERE.
All done for today. See you on the next one Frens!
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