Crypto-focused venture firm Framework Ventures has raised $400 million in new funding to invest in early-stage companies across the Web3, blockchain gaming and decentralized finance (DeFi) industries. "FVIII," as the fund is called, includes a $200 million allocation to blockchain gaming projects, the company confirmed Tuesday. Framework Ventures, which had early exposure to DeFi, now has over $1.4 billion in assets under management. The company was an early investor in projects such as Chainlink, Aave and The Graph. Like DeFi in 2020, gaming and Web3 have been identified as the next major growth plays for the blockchain industry. Axie Infinity …

Nonfungible tokens (NFTs) have come a long way in a relatively short period of time. In 2017, the NFT project CryptoKitties made headlines as the largest decentralized application on the Ethereum network. While CryptoKitties accounted for a notable portion of Ethereum transaction volume in 2017, these NFTs mainly served as digital collectibles geared toward the crypto community. It wasn’t until March 2021 when NFT artwork started gaining traction due to the financial potential behind these creations. This was demonstrated when digital artist Mike Winkelmann, also known as Beeple, sold his NFT piece titled “Everydays: The First 5,000 Days,” which raised …

While many gamers are critical of blockchain-based gaming, Myspace co-founder Chris DeWolfe believes adoption is on the way as the business model inherently provides players more control over their in-game experiences. DeWolfe, who is now the CEO of game development firm Jam City, told Cointelegraph that “the quality of the game and how developers interact and engage with players to set expectations” could eventually change the perception of skeptics. The former Myspace CEO also compared the advent of Web3 gaming to the early days of Web2. According to DeWolfe, many analysts were skeptical of the viability of Web2 advertising and …

Animoca Brands, the parent company of The Sandbox, added Eden Games to its portfolio on Tuesday. Eden Games is a publisher of popular racing games including the Gear.Club and Test Drive series. Animoca hopes this acquisition will enhance its REVV Motorsport ecosystem of blockchain-based racing games on Polygon. On Wednesday, Animoca announced it is acquiring Darewise Entertainment, a Paris-based game studio founded by former Ubisoft executives and other AAA games industry veterans. Darewise is currently developing a new play-to-earn (P2E) massively multiplayer online role-playing game, or MMORPG, called Life Beyond. Animoca Brands agreed to a 70% stake in Darewise Entertainment, …

Japanese gaming giant Sega is looking at integrating cloud technology and NFTs as part of its new “Super Game” project to connect different games to each other. The news has caused a predictable backlash from the crypto-skeptic section of the gaming community, with many people voicing their frustrations at the firm online this week. The Super Game initiative is set to roll out over the next five years and will reportedly see the development of a wide range of new cross-platform triple A grade games. The firm is said to be weighing up an investment of around $800 million into …

In late March, Ronin, an Ethereum sidechain built for the popular play-to-earn nonfungible token game Axie Infinity, was hacked for over 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) for a combined value of over $600 million. The breach on the Ronin bridge was confirmed by Sky Mavis, the developers behind the popular play-to-earn (P2E) game: There has been a security breach on the Ronin Network.https://t.co/ktAp9w5qpP — Ronin (@Ronin_Network) March 29, 2022 The official report from the company noted that the hackers managed to get access to private keys to validator nodes resulting in the compromise of five validator …

Tech venture capital firm White Star Capital has secured $120 million in funding for its second Digital Asset Fund (DAF II) to invest in crypto networks and early-stage blockchain and Web3 businesses. The fund is primarily backed by game publishing giant Ubisoft and will take a particular focus on decentralized finance (DeFi) and gaming. It will invest as much as $7 million in each of 20-25 companies in North America, Europe, and Asia. The firm’s increased attention to DeFi, Web3, and blockchain-based technology suggests that it will begin to support companies that utilize or develop Metaverse solutions as well. This …

Gaming and venture capital firm Animoca Brands has completed its landmark acquisition of Eden Games, publishers of the Gear.Club, Test Drive series, and other popular racing games. Eden Games is a France-based firm that was founded in 1998. Engine Gaming and Media sold its 96% stake in the company to Animoca for $15.3 million on April 7. With the acquisition, Animoca plans to enhance its REVV Motorsport (REVV) ecosystem by taking a “Metaverse first approach” to new and existing gaming titles, as tweeted by Animoca chairman Yat Siu on April 12. It also hopes to introduce new blockchain-based racing games. …

Crypto games that combine play-to-earn (P2E) and nonfungible token (NFT) mechanics found a huge boost in 2021, thanks to the success of Axie Infinity and metaverse hype. However, playability still remains a major problem, as most crypto games focus on tokenomics rather than providing a fun and enjoyable gaming experience. Apart from the earning aspect, they often offer nothing special compared to traditional PC or console video games, where players can find interesting plots, nice visual effects and addictive gameplay. Axie Infinity has become known for its repetitive gameplay, known among gamers as “grinding,” while The Sandbox and Decentraland don’t …

What is it with these sly, funny, but boring looking apes that continue to make headlines? Many collectors argue that it’s less about the image itself and more about the culture, social capital and wealth the community of owners have gained from Bored Ape Yacht Club (BAYC) that give the collection its value. Amassing over $1.42 billion in total volume, the community entrusted that the creators would deliver on its promise for token emission. On March 17, BAYCs utility and governance token, ApeCoin (APE) was made eligible to claim for BAYC and Mutant Ape Yacht Club (MAYC) holders. According to …

Indignant gamers have review bombed Storybook Brawl on Steam over fears of potential NFT and blockchain integrations following crypto exchange FTX’s acquisition of its developers Good Luck Games, LLC. Storybook Brawl is a free-to-play auto-battle card game that was launched on online gaming platform Steam in mid-2021. The game’s review history showed an overwhelming amount of support until March 22, the exact day FTX US announced its acquisition. Since that time, the game has moved to an “overwhelmingly negative” status with 600 out the last 761 reviews being negative. While it is possible for anyone who hasn’t played the game …

As Bitcoin (BTC) finally broke out of the $46,000 resistance on March 27, traders were quick to conclude that the bearish trend was gone for good. Even as the price hit its highest level in 84 days, derivatives metrics and Asia’s Tether premium still show a lack of bullish sentiment. While analysts will struggle to find a rationale for the modest 5.8% 24-hour gain that pushed Bitcoin above $48,500, we still have to account for the daily 3.8% average volatility. For instance, over the past 12 months, BTC presented a daily swing higher than 5.8% in 44 instances, ranging from …