Get Bitcoin To Eat Tickets, Immutable Says ‘Big Studios Are Showing Up’ – Web3 Gamer

The approval of spot cryptocurrency EFAs, coupled with a wave of new money and more traditional gaming companies jumping on board, shows that the Web3 game is at its peak.

That's according to Robbie Ferguson, founder of game development platform Unchangeable.

“The Web3 ecosystem is at a critical juncture where gamers can share true ownership of their assets and marketplace with studios — a win-win for everyone,” Ferguson told the newspaper.

This year has been a big one for cryptocurrency adoption, with the space seeing Bitcoin ETFs get the green light in January and Ether ETFs in May. Ferguson says it's hard to make a direct connection between these endorsements and the gaming industry, but it certainly can't hurt.

It's hard to make a direct correlation between the two, but ETF approvals have brought cryptocurrency back into the minds of the general public, and ultimately the game is one of the easiest adoption options for those looking to experience what the industry has to offer. ” explains Ferguson.

Skale Labs CEO Jack O'Holler – the firm behind the layer-2 Ethereum scaling solution Skale Network – echoes the same sentiment, saying ETFs can only be positive for the Web3 gaming industry.

“As institutional revenues continue to grow, we expect an increased focus on Web3 gaming projects, which can accelerate development and innovation in the industry,” O'Hollern told the magazine.

“This regulatory process strengthens Ethereum's role in the decentralized ecosystem, paving the way for blockchain technology to be widely adopted and integrated into gaming platforms,” ​​O'Holleran added.

Ferguson noted that at the end of May, when the SpotEther ETF was approved, the market capitalization of blockchain game tokens reached a higher level than at the beginning of the year.

“The data suggests a similar flow of demand and capital. In May, the blockchain game tokens market closed at $25.64 billion, an increase of about 21% from January 2024,” Ferguson said, adding that a growing number of traditional game companies. They have started investing in the Web3 industry.

Traditional gaming organizations are flocking to Web3.

“More than half of the largest gaming companies are investing in Web3 by developing blockchain games, investing in Web3 gaming projects, or hiring for blockchain spaces,” Ferguson said.

It explains that players are starting to see a more fair playing field compared to the dominance of gaming giants in Web3 games.

“Now they're seeing how monetization with the right mechanics can enhance the player experience,” he said.

“Unfortunately, gamers typically get the low end of the stick when game publishers experiment with new business and monetization models to maximize player retention while keeping costs low. Balancing player and publisher incentives is critical to mainstream adoption,” said Ferguson, highlighting unlikely plans to launch a large number of new titles before the end of 2024.

“With over 330 games signed on now, we expect 40% to launch by 2024. That's nearly $20 billion in investment in games and platforms over the last four years,” Ferguson said.

Notecoin jumps 17% while other gaming tokens fall

Notcoin, a gaming token based on Telegram, has gained 16.76% in the past seven days.

The surge in prices comes amid a sea of ​​red in the broader cryptocurrency market after Notcoin announced a rapid partnership with AI-powered analytics firm Helica Gaming for game developers looking to build Telegram games.

“Notcoin and Helica will help game studios, mobile application and indie developers build great gaming experiences on the Telegram platform and TON blockchain,” says Notcoin.

“We want to expand and open up the accelerator to the game developers who are leading the wave of Telegram games,” he added.

Launched in March, “Idle Game” attracted more than 30 million users on Telegram in its first two months, leading them to develop The Open Network-based crypto wallets.

The game brought more than 3% of Telegram users to the Web3 world by tapping their screen to earn tokens. As Notecoin soared, other gaming tokens took a nosedive.

According to CoinMarketCap data, Gala took the biggest gain with 21.95%, while Immutable, Beam and Ronin dropped 21.81%, 17.41% and 17.27% respectively.

Hot Take: Bitcoin Snake

If you are a fan of classic mobile games and miss the simplicity of old brick-shaped mobile phones, Bitcoin Snake might be right up your alley.

Developed by THNDR Games – creators of other Bitcoin-earning games like Bitcoin Solitaire and Bitcoin Bay – Bitcoin Snake is a modern twist on the classic Snake game that first appeared in 1997 on the Nokia 6610 device.

If you've forgotten what it was like to play on the old brick phones, the basic concept of a snake is to go through a grid to eat food, but the snake is not allowed to touch the wall or its own tail.

Bitcoin Snake is similar but with a twist. The snake eats tickets as users play, and they can use the tickets for daily raffles to win bitcoins.

The more tickets collected, the better your chances of winning in the daily Bitcoin raffles – just like those meat raffles at the local pub.

Although it is called Bitcoin Snake, it is not a common game to earn money like Axie Infinity, for example.

Although it's not a straightforward way to earn bitcoins, it's a fun and nostalgic game that brings back the old-school feel.

So, if you want to earn some bitcoins while enjoying some retro games, try Bitcoin Snake.

Other news:

– Axi Infinity creator Sky Mavis is launching PHPC, the “Philippine stablecoin” with Filipino crypto exchange Coins.PH.

– Motoverse, backed by gaming giant Animoka Brands, has announced a partnership with cryptocurrency memecoin Turbo Token, which will involve exchanging Motorverse's Revv tokens and Turbo tokens.

—Decentralized new property marketing platform Tomarket launches beta version of new Telegram game “Tomarket Drop Game”. It recently made arrangements for early adopters to unlock bonuses and earn Tomato Points by engaging with the game.

– Telegram CEO Pavel Durov said the viral crypto game Hamster Kombat is the “latest internet phenomenon” after 239 million people signed up for the app in three months.

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Ciaran Lyon

Ciaran Lyons is an Australian crypto journalist. He is also a freelance comedian and has been a radio and TV presenter on Triple J, SBS and The Project.