From the massive fall of Bitcoin’s (BTC) price to the collapse of crypto exchange FTX, 2022 was full of upheaval for the blockchain industry. But the blockchain community has always been resilient, finding new ways to develop in the most challenging times. A striking example of optimism and growth is the development of the GameFi industry, which combines gaming, decentralized finance (DeFi), nonfungible tokens (NFTs) and the metaverse. In 2021, GameFi became a growth leader in the crypto space, with successful projects like Gala Games, Decentraland, The Sandbox and Axie Infinity. The GameFi sector has continued to develop, attracting more …

A conventional treasure hunt is a game where players use hints or a map to find hidden objects, which are typically tangible items, such as coins, toys or other rewards. The game typically takes place outdoors and calls for both physical effort and problem-solving abilities. However, blockchain treasure hunts are becoming increasingly popular as blockchain technology gains wider adoption and people become more interested in exploring new and innovative ways of using this technology. A blockchain treasure hunt uses the security and transparency of blockchain technology to create a new type of game that can be played by anyone, anywhere …

The future of Web3 gaming The future of Web3 gaming is exciting and promising, as it offers new opportunities for players to truly own their in-game assets and currencies, as well as new revenue streams for developers. Incorporating blockchain into gaming has changed the industry, democratizing it by removing centralized parties and creating new ways of monetization with more social and community-oriented gaming experiences — all of which further enhance the social and entertainment aspects of gaming. However, it is unlikely that Web3 games will completely replace traditional games, as they offer different experiences and target different audiences. However, Web3 …

The community supporting Illuvium, an interoperable blockchain game, has demonstrated the power of decentralized autonomous organizations (DAOs) after blocking a scheduled nonfungible token (NFT) pack-opening event between Illuvium CEO Kieran Warwick and Three Arrows Capital (3AC) founder Su Zhu. Warwick was scheduled to go against Zhu in what’s called an “Influencer Illuvitars D1sk Battle” where prominent crypto personalities go against each other to open NFT packs. However, due to the controversies surrounding Zhu and 3AC, the Illuvium community expressed concerns over the potential risks of being associated with Zhu, who currently faces various accusations of unethical behavior. Influencer Illuvitar D1sk …

Bored Ape Yacht Club (BAYC) creators Yuga Labs has announced a new NFT collection on Bitcoin dubbed “TwelveFold.” The move was announced via Twitter on Feb. 28, with Yuga Labs unveiling 300 tokenized computer generated artworks as part of the TwelveFold collection that will go up for auction later this week. Introducing TwelveFold. A limited edition collection of 300 generative pieces, inscribed on satoshis on the Bitcoin blockchain.https://t.co/aFWEIhzqcI pic.twitter.com/PjWABKKBr4 — Yuga Labs (@yugalabs) February 27, 2023 In an accompanying blog post, Yuga Labs explained the concept behind the collection is based on mathematics, time and the Bitcoin blockchain. “TwelveFold is …

The growing GameFi sector has caught the attention of the video game industry, leading many brands to create their own unique blockchain games. However, despite the popularity of these projects, many lack engaging gameplay mechanics and the entertainment value found in successful traditional games. With a focus on high production values, replayability and entertainment, the upcoming blockchain gaming project Undeads aims to bring these much-needed elements to the forefront of the Web3 space. Undeads’ head of community Jan Emil Christiansen will get into more detail about the ambitious gaming project in an AMA on Feb. 22, 3:00 pm UTC. Undeads …

Sam Bankman-Fried, the former CEO of crypto exchange FTX may no longer be able to play League of Legends and other video games if newly proposed changes to his bail conditions from United States prosecutors are approved. In a Feb. 15 letter to United States District Judge Lewis Kaplan, U.S. Attorney Damian Williams asked the courts to further expand restrictions surrounding Bankman-Fried’s electronic device usage. They pointed to Bankman Fried’s recent device usage as cause for concern, and agreed with the court’s intuition that it was “shortsighted” by focusing only on apps, adding: “There is now a record before the …

Web3 gaming accounted for almost half of all blockchain transactions in 2022, according to a report from DappRadar. This demonstrates that gaming is the fastest-growing sector in the blockchain space at this point, well ahead of decentralized finance (DeFi) and nonfungible tokens (NFTs). At the end of 2022, a survey commissioned by Coda Labs showed that 75% of game developers expect to work with Web3 games in the future. About 56% of respondents, which included industry professionals, admitted that Web3 technology would revolutionize gaming. Nevertheless, Web3 gaming is still far from mass adoption and AAA ambitions due to multiple challenges …

The development of blockchain technology and the growing adoption of nonfungible tokens (NFTs) are two factors that have contributed to the proliferation of play-to-earn collectible games. Play-to-earn (P2E) games allow players to gain benefits by participating in the game, such as in-game currency and items. This creates a new dynamic where players can profit from their in-game actions, enhancing the fun and purpose of the gaming experience. Additionally, the usage of NFTs and blockchain technology in play-to-earn games gives players greater ownership and scarcity, which increases demand and can result in higher prices for exclusive in-game commodities. Play-to-earn games like …

Bitcoin Ordinals causes fees to spike The Bitcoin (BTC)-native Ordinals protocol is taking up record-breaking space on the blockchain and in the process is hiking the transaction fees on the network. The divisive newly launched protocol allows for nonfungible token (NFT)-esque assets on the Bitcoin mainnet by inscribing satoshis with content. So far, inscriptions have included content such as images, documents including a PDF file of the Bitcoin whitepaper and even a fully playable clone of the video game DOOM. On Feb. 2, independent developer, Udi Wertheimer, tweeted he had conducted the “largest transaction in Bitcoin’s history” after using the …

The casual gaming market will remain a crucial audience for blockchain games and nonfungible tokens (NFTs) in gaming, according to three blockchain gaming company co-founders. Casual gamers, people who play games somewhat regularly but rarely invest significant time, make up the largest segment of players in the gaming industry. Kieran Warwick, co-founder of blockchain role-playing game Illuvium called casual gamers "critical" because of the sheer number of them in the population. There are more than 3 billion gamers worldwide as of 2023, and it's estimated that at least 1.95 billion are casual gamers, according to Exploding Topics. Warwick said gamers …