Resurgence of GameFi Projects Amidst Bitcoin's Rally: Immutable's GOG Launch and More
Summary:
GameFi projects are seeing renewed interest as Bitcoin flirts with all-time highs. Immutable announced the release of its eagerly anticipated game Guild of Guardians, while Animoca Brands Japan established a partnership with Square Enix for the development of the NFT-based game Symbiogenesis. Meanwhile, the ARPG game, Seraph: In the Darkness, saw sales exceeding 11,000 Ether, and the Web3 casual game, Pixels, reached a milestone of one million daily active users. The GameFi market continues to be dominated by fresh projects, overshadowing past industry leaders like Axie Infinity.
The cryptocurrency bull market of 2020 to 2022 saw a surge of interest in GameFi projects, and now, as Bitcoin (BTC) is once again flirting with record-breaking prices, we're seeing a resurgence of these much-hyped ventures. On the 15th of May, Ethereum-based gaming studio Immutable unveiled its latest creation, Guild of Guardians (GOG), now available for download on Google Play and the App Store. Players navigate the imperilled world of Elderym, pitting teams of Guardians against the destructive force known as the Dread. Successful endeavours yield GOG token rewards. Chris Clay, the head of Immutable Games, disclosed the team's future plans to highlight the Immutable Passport and the Immutable zkEVM. The initial launch sees the distribution of $1 million worth of GOG tokens and a variety of hero NFTs as extra prizes.
In other news, Animoca Brands Japan revealed a partnership with the renowned game maker, Square Enix, known for the popular Final Fantasy series. Square Enix is working on a NFT-based game, Symbiogenesis, and Animoca Brands will mobilize its talent to aid in the expansion, sales, and promotional activities of this venture. In the action-oriented game, players will navigate a ruined fantasy world, solving puzzles through quests themed around monopoly and distribution. The game includes 10,000 NFT characters which can be used both for gameplay and as personal avatars.
On April 19th, it was announced that sales for the ARPG dark fantasy game, Seraph: In the Darkness, built on Arbitrum, recently exceeded 11,000 Ether. The sales were mainly from in-game NFT sales of virtual apparatuses, special characters, and others. The game's creators at Seraph Studio are continually refining and adding to the game, which is still in its preseason stage.
Furthermore, Pixels, a casual Web3 game that lets players enjoy farming and exploration, reached a milestone of one million daily active users on May 13. The game, which migrated to gaming blockchain Ronin earlier this year and listed its token on Binance, has accumulated revenue of $4.4 million from VIP subscriptions and in-game purchases over the last month. It now tops a market value of $2.7 billion.
Novel GameFi initiatives continue to gain traction in the persistently bullish cryptocurrency market, overshadowing older endeavors. Rewinding two years, the fantasy monster battle NFT game, Axie Infinity, made up almost two-thirds of all blockchain GameFi transactions. Monthly usership which once peaked at about 2.7 million is now down to around 342,353.
Published At
5/15/2024 10:45:00 PM
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