Play-to-earn gaming was one of the breakout sectors of the cryptocurrency market in 2021 and the trend was led by Axie Infinity (AXS), a mobile, blockchain-based game where users collect, breed, raise and battle nonfungible tokens (NFTs) called Axies for monetary rewards. As the market topped and then entered what has become a deep bear market, AXS price retraced from an all-time high near $170 to its current price at $15.20 following several setbacks, including a $600 million hack of the Ronin sidechain that hosts the game. Currently, the future of P2E gaming remains in question and advocates are watching …

Community-driven gaming firm, Planetarium Labs, has raised $32 million in Series A funding, backed by Animoca Brands, Samsung Next and WeMade. The funds will be used to build a blockchain-based gaming ecosystem in which players can participate in the game network while also allowing members of the community a seat at the table. According to the announcement on Thursday, the firm is developing a gaming environment based on Libplanet blockchain technology, allowing gamers to join the game network while also providing users a voice in open-source content development. Planetarium Labs will invest in the expansion of basic tools for community-driven …

Chris Wang has done it all. As well as selling a business to Disney for hundreds of millions of dollars, he was one of Web3's earliest champions. Here, he speaks to Cointelegraph about the hurdles that Web3 needs to overcome in order to reach billions of users, and how he thinks the industry will evolve in the years ahead. Plus, Chris also tells us more about what ThunderCore, his latest venture, is doing to achieve a "mobile entertainment revolution." 1. Hi Chris! You were the quickest person to graduate with a PhD at Carnegie Mellon University. What was that like …

Polium, a company that markets itself as “building the products and infrastructure for Web3 gaming,” has said it's launching a gaming console that will support multiple blockchains and nonfungible tokens (NFTs). The “Polium One” console announced on Monday is slated for an initial Q3 2024 release and will support the Ethereum, Solana, Polygon, BNB Chain, ImmutableX, Harmony, EOS and WAX blockchains. We are introducing the Polium One, A multi-chain console for Web 3 Gaming. #Web3OnConsole pic.twitter.com/tkRaP2O13A — Polium (@Polium__) July 2, 2022 Currently, the only specifications listed for the console are that it will support a 4K Ultra HD resolution …

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies within the crypto, decentralized finance (DeFi) and blockchain space, as well as their roles in shaping the economy of the 21st century. The crypto market, just as any other market, runs in cycles. Even though digital assets are known, if not infamous, for being more volatile than many other asset types, their price action still follows a familiar pattern of ups and downs. Some of this, such as Bitcoin’s (BTC) four-year cycle, largely comes down to the algorithm’s intrinsic rules — more specifically, the halving of …

Sky Mavis, developers of the popular play-to-earn (P2E) nonfungible token (NFT) game Axie Infinity have announced that the Ronin bridge is back online three months after it was hacked for more than $600 million. The Ronin bridge is an Ethereum sidechain built for Axie Infinity, and it enables users to transfer assets between the sidechain and the Ethereum mainnet. On March 29, 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) was drained from the bridge after hackers managed to gain access to private validator keys. The hack was worth more than $620 million at the time. According to the …

Blockchain games were the subject of the latest DappRadar x BGA Games Report #5, published on Tuesday. The report looked at healthy ecosystems and investments coming into the GameFi and metaverse markets. Several projects were covered in detail in the report, which outlined their continued success and growth. Splinterlands, Illuvium, Galaverse and STEPN have continued to bring new players to their platforms, gain financial interest and expand their businesses. DappRadar claimed that a common theme between many of these popular projects was the underlying utility provided by the gaming aspect, itself. GameFi and Metaverse projects have begun to utilize nonfungible …

Over the last couple of years, games using blockchain technology have been actively developing and attracting new players, and the decentralized games market — broadly referred to as GameFi — has gained great popularity. The GameFi industry started back in 2013, and since then, the sphere has been slowly developing, but in 2021 the popularity of decentralized games exploded along with the boom in nonfungible tokens (NFT). According to the DappRadar analytical service, the total value of one of the most popular blockchain-based games, Axie Infinity, exceeds $550 million. But the GameFi industry has its issues. Many projects often “launch” …

Play-and-earn games have become a significant part of the crypto ecosystem in recent months — and they've even enabled some players to make a living. But some titles have been criticized for failing to offer compelling gameplay — with critics claiming that NFTs and financial incentives suck the fun out of games. Monster Racing League, a multiplayer racing game, is aiming to change this by delivering an engaging experience that wouldn't be out of place on a major console. With a demo game already available, interested players are able to experience this for themselves. By combining skill and strategy, players …

A potential legal battle has been prevented between the Merit Circle decentralized autonomous organization’s (DAO) backing company Merit Circle Ltd and Yield Guild Games (YGG) as the organizations reached a deal after the DAO originally voted to remove YGG. Merit Circle Ltd is a company that created the Merit Circle DAO to help gamers interested in play-to-earn games by lending items from its treasury to be used for gameplay, as well as delivering educational content. Speaking to Cointelegraph Gabby Dizon, Co-Founder of YGG said a DAO member took the current market conditions as an opportunity to pass a proposal canceling …

Axie Infinity (AXS) has dropped by roughly 90% after peaking out at $172 in November 2021. AXS’s sharp correction has made it one of the worst-performing digital assets among the top-ranking cryptocurrencies. Moreover, it could undergo further declines in the coming months, according to a mix of technical and fundamental catalysts listed below. Low player count dampens AXS demand To recap, AXS serves as a settlement token within Axie Infinity’s gaming ecosystem, allowing players to purchase native nonfungible tokens (NFTs), a flurry of digital pets called Axies. It also acts as a work token that players can spend to breed …

In the wake of the rising popularity of games like Fortnite, Roblox and Minecraft and the concept of the Metaverse, the ability of “avatars” to escape unpleasant realities, or simply have fun, is emphatically relevant. It warrants a discussion on digital citizenship and the “inclusivity” of individuals and their identities in the virtual realm, and it provides new meaning for those with gender dysphoria or who identify as genderqueer. In the real world, there is a known bias against those who do not identify with the sex assigned to them at birth. According to a recent study, approximately 2.7% of …