After decentralized finance (DeFi) and nonfungible tokens (NFTs) made headlines last year, the play-to-earn concept has also been gaining momentum across the crypto community. Play-to-earn games allow players worldwide to benefit from the security and decentralization features of blockchain by getting rewarded with digital currencies or NFTs. There are many gaming companies adopting the play-to-earn approach, but one blockchain gaming company brings this model to the horror genre. FEAR, a horror ecosystem founded by Jonathan and Patrick Carey, is providing horror fans with a scary ecosystem of games, NFTs, and a dark metaverse. Horror is one of the most-watched gaming …

With the development of gaming platforms, virtual items have also become a popular method of monetization, but most games store data on private servers, giving gamers a reason to doubt their reliability and transferability. Developers can change the game policy at any time to maximize their profits. They are not obliged to consult users or take responsibility for the harm caused to the game ecosystem. This problem can be solved by blockchain technology which makes it possible to own and transfer virtual assets to anyone through nonfungible tokens (NFT). In a world where gamers spend a lot of time and …

Web3 gaming and entertainment company Metatheory founded by Twitch co-founder Kevin Lin has raised $24 million in a Series A funding round on Monday. The round was led by crypto capital venture firm Andreessen Horowitz (a16z), with participation from Pantera Capital, the venture arm of the FTX cryptocurrency exchange, FTX Ventures, and other venture firms, according to the announcement. Metatheory was launched in November 2021 around one year after Lin left Twitch, where he wrote in a Medium article at the time that he was creating the gaming company and also a blockchain game called DuskBreakers. Lin was quoted in …

Gaming giant Square Enix has revealed in its Q1 earnings report that it will expand nonfungible tokens (NFTs) into more game products as part of its medium-term business strategy in 2022. Square Enix (SE) is a Japanese game developer with $3 billion in assets under management, according to its latest earnings report. The firm owns the Final Fantasy property and sold the Tomb Raider franchise for $300 million on May 3. The report states that the firm piloted NFTs on the Shi-San-Sei Million Arthur game starting in February this year. The success of the pilot program will lead to the …

The concept of the Metaverse has been around since the 1980s, but it has only been in recent years that we’ve seen hundreds of projects popping up on the scene. What we are currently experiencing are gamified worlds with limited integration and engagement abilities. Right now, the Metaverse is still a blank canvas for early adopters to test and entertain the concept. When looking at the future of engagement in the Metaverse and bridging the gaps between the physical and digital worlds, however, we need to push the boundaries and go beyond what is currently seen as a metaverse. Let …

Blockchain-based gaming has exploded in the last year. As technology continues to transform how users interact with digital assets, gaming has been at the center of all of the action. We have seen the rise of blockchain games without the need for traditional gamers. However, the existing gaming communities are an essential part of the future of gaming. A South Korean gaming company Wemade, the creator of the WEMIX platform, recognizes that blockchain game developers must bring the entire gaming community into the fold when enhancing the overall gaming experience. The vast majority of gamers would believe that the core …

Ready Games, provider of developer and creator tools for the Web3 community, will launch a new ecosystem with the goal of incentivizing Web2 game creators to explore and switch to Web3 with minimal development time and cost while distributing games “as normal” through traditional app stores. On Friday, the company announced the launch of the ecosystem that will include the utility token AURA and a set of developer tools, specifically aimed at bringing mobile Web2 games into Web3 in compliance with Apple and Google app stores’ rules. This process took only five days in the ecosystem’s Alpha version, Ready Games …

Researchers at Australia National University have teamed up with blockchain oracle provider AP13 to launch the first Quantum Random Number Generator (QRNG). The joint effort will allow Web3 entities to access a completely unpredictable random number generation system that is highly secure and free to use. Random number generators are not new, but the QRNG system is the first of its kind to generate a random number using quantum mechanics. This provides the first genuinely random number mechanism beyond the pseudo-mathematical systems currently used that may be biased or repeated. There are several traditional applications for random numbers, such as …

Cryptocurrency markets remain caught in a macro-based downtrend, with Bitcoin (BTC) and Ether (ETH) showing further signs of weakness at the end of April. But, venture capital activity in the crypto and blockchain sectors is the strongest it has ever been, offering further evidence that major investors are looking beyond immediate price action and ignoring divisive bull/bear narratives. The latest edition of VC Roundup highlights the growing excitement surrounding Web3 gaming, decentralized finance (DeFi) and blockchain infrastructure. bloXroute secures $70M from major investors Blockchain distribution network provider bloXroute has raised $70 million in funding to continue developing scalable infrastructure services …

Over the weekend, Climate Replay, which comprises developers from the Mojang Group, the maker of the popular Minecraft series, posted a pledge regarding the responsible integration of nonfungible tokens, or NFTs, and digital currencies into gaming. "Games give us hope in a world that is increasingly uncertain. They help us unlock our creative potential and free us of real-world constraints — physical, financial or otherwise," the team at Climate Replay said. However, they cautioned about the current state of digital assets intertwining with gaming: "Most NFTs, and by consequence, most forms of digital ownership, in their current state, serve the …

The Ronin Network and Sky Mavis have vowed to upgrade their smart contracts, offer lucrative bug bounties and ramp up security following the $600 million hack late last month. As Cointelegraph previously reported, the Ethereum sidechain developed for the popular NFT game Axie Infinity was the victim of an exploit for 173,600 Ether (ETH) and 25.5 million USD Coin (USDC), worth more than $612 million at the time. Earlier this month, the Federal Bureau of Investigation (FBI) attributed the attack to North Korea-based and state-sponsored hacking group Lazurus, as it fired off a warning to other crypto and blockchain organizations. …

Stablecoin minting and nonfungible tokens (NFTs) have been the latest trending topics in the cryptocurrency market and protocols like Terra (LUNA) have led the discussion on why stablecoins should be backed by assets like Bitcoin (BTC) and Avalanche (AVAX). One project that appears to be following Terra's lead is Origin Protocol (OGN), a platform focused on NFTs and decentralized finance. Data from Cointelegraph Markets Pro and TradingView shows that over the past month, the price of OGN has rallied 143% from a low of $0.25 on March 10 to a daily high of $0.725 on April 19. Three reasons for …