Yoda Labs Monthly Recap

Another home run for Web3 Gaming in September

Author

Yoda Labs
September 28, 2023

September has been a sizzling month for Web3 gaming, as the month draws to a close, whispers are circulating Microsoft and the rumored introduction of adding crypto wallets to Xbox. Unity does a U-turn and decides to reverse the decision on its controversial Runtime fees after backlash. Konami is breaking into blockchain gaming whilst Sony and Startale Labs are teaming up to build a new blockchain optimized for gaming. Google selects the mobile gaming powerhouse BlockGames to join its exclusive web3 start-up program, and will allow NFT games to run ads on its platform . We've also seen a huge month when it comes to Web3 gaming investments and raises, are we witnessing a turning point for mainstream acceptance of blockchain games?

Also in our monthly round-up:

  • Minecraft creator supports the ban on tokens

  • My Pet Hooligan is now on Epic Games Store

  • My Neighbour Alice starts Alpha Season3

  • Pixels migrates from Polygon to Ronin Chain

  • Torque Drift 2 introduces simulation drifting on-chain

  • EPIC Games adopts new tech, leaving STEAM with outdated views

  • MotoGO Legend Rossi partners with Animoca

  • Harvard legal expert asking for metaverse tax

The most comprehensive look at the WAX ecosystem and its future with an exclusive interview with the CGO, Michael Rubinelli!

Our next research is going industry-wide to tackle a highly anticipated topic! Never covered anywhere else. Stay tuned!

Web3 Gaming News 🎮

  • Mythical Games plans to move operations for its flagship game, Blankos Block Party, to the mobile market

  • WAGMI Games has entered the world's first-ever reality TV show dedicated to crypto, The Next Crypto Gem the show reaches over 600 million households worldwide

  • Wemade has launched the Drops NFT auction service on its WEMIX PLAY global blockchain gaming platform. The service will auction off game NFTs and special NFTs

  • Enjin blockchain, developed by Maxim Blagov and Witek Radomski, is now live for users to create Web3 products such as games 

  • Ryan Wyatt, Polygon Labs president, believes that the Web3 space will overcome hate for blockchain-based games

  • Splinterlands has announced a downsizing and reorganizing of their projects, assigning them to specific corporate entities

  • NFL Rivals, a web3 game by Mythical Games, is gaining popularity due to its NFT sales and synergetic IAP monetization with over 2 million downloads and $1 million in NFT trading volume

  • Parallel has introduced a new feature in their TCG system, allowing players to duplicate their cards and create Echo versions from cards owned First Edition and Special Edition

  • Web3 adventure game Big Time is set to launch in early October, offering a free-to-play experience without the pay-to-win mechanics

  • Yuga Labs' strategy game Legends of the Mara season 1 open beta launches on 26th September, allowing Otherdeed land NFT holders to claim a new Vessel NFT

  • Gala Games co-founders Eric Schiermeyer and Wright Thurston are facing legal disputes over the disappearance of over $100 million 

  • Google selects BlockGames, a pioneering force in the mobile gaming industry, to join its exclusive Web3 startup program

  • Sony Network Communications and Startale Labs have announced a joint venture to develop a blockchain

  • Konami has announced its entry into blockchain with Project Zircon, aiming for a "new co-creation experience involving NFT trading

  • ERA Games, an innovative NFT-based web3 game developed by Metaera, has announced exciting features and strategic partnerships with industry leaders

  • My Neighbor Alice has announced Alpha Season 3.Players to create individualized NFTs through activities like fishing and farming

  • My Pet Hooligan, a third-person shoot-em-up game, is now on Epic Games. The game, is based on the Hooligan Rabbit theme

  • Sugartown, a web3 gaming platform built by Zynga, is introducing staking and holding its first event on their platform on September 29

  • Google will allow NFT games to run ads provided they don't promote gambling content, starting September 15, advertisers must comply with Google Ads certification

  • Gala Games has announced a partnership with social media network REP to bring their app and ecosystem to Gala which is a 'Super Twitter', allowing users to create private social networks

  • South Korean video game company behind PUBG, Krafton plans to launch Settlus, a Cosmos-based blockchain, in early 2024, offering creators a transparent settlement system and NFTs for royalty rights.

Web3 Gaming Trends 🚀

  • Despite a market downturn, Web3 gaming is gaining interest from investors. Argus Labs CEO Scott Sunarto believes that utilizing crypto levers can make gaming more exciting

  • Dappicom, a non-profit open-source project, aims to reinvent Web3 gaming by allowing players to prove in-game milestones without revealing how they did so

  • Harvard legal expert Christine Kim suggests that metaverse should be taxed, allowing participants to build wealth within its ecosystem

Christine Kim Has Fast-Tracked the Idea of Metaverse Taxation 

The metaverse is a virtual world that is still in its early stages of development, but it has the potential to be a major economic force. As people increasingly spend time and money in the metaverse, governments could see this as an opportunity to tax this new economy.

Harvard legal scholar Christine Kim argues that income and wealth in the metaverse should be subject to immediate taxation. She points out that the metaverse allows participants to create and build wealth entirely within its ecosystem, and that this burgeoning wealth sector should be regulated under tax codes. She also argues that failure to tax the metaverse would create a tax haven.

Kim's arguments are persuasive as she presents her views. We have already begun to see the rollout of state services as governments put more focus on the metaverse. A narrative could easily be adopted highlighting the need to uphold law and order, failure to do so could lead to unfair competition and tax evasion.

Of course, there are some challenges to taxing the metaverse as it can be difficult to determine the value of metaverse assets. But, these challenges are not insurmountable. Governments have a history of adapting tax laws to new economic realities, and they will likely be able to do the same with the metaverse. This is a trend that we are not looking forward to.

Web3 Funding News 💸

Exploring the Metaverse 🛸

  • Meta has launched Horizon Worlds, a metaverse platform accessible on mobile devices and web browsers. The platform features a free-for-all shooter game called "Super Rumble."

  • South Korean gaming companies Kakao and Com2Us have announced staff cuts in their metaverse divisions, following the dissolution of Tencent's XR unit

  • Valentino Rossi, a nine-time MotoGP world champion, has partnered with VR46 Metaverse, Animoca Brands, and Gravitaslabs to create a motorsport experience called "ValeVerse" on The Sandbox platform

  • ETRI, the Electronics & Telecommunication Research Institute, has unveiled domestic technology for hyper-realistic metaverse world

  • Genies, a metaverse avatar tech company valued at $1B, is making strides in metaverse with a network of crowdsourced mini-games

  • Epic's CEO identifies economic interoperability as a significant challenge in the open metaverse, requiring a creator economy that doesn't rely on open standards

  • The metaverse is thriving in Asia, with Hong Kong, Korea, and Japan being the top markets. Sandbox co-founder Sebastien Borget said that 50% of the company's business has come from Asia last year

Alpha Test, Early Access & Hands-On Gaming ⚒️

Angry Dynomites Lab demo #5 launches, 28th September

Fableborne pre-sale starts, 29th September

Zeedz public alpha launch, 5th October

New Mojo Melee season, Harvest of Doom, starts 6th October.

Upcoming Free Gaming Mints ⚒️

WAGMI Games September 27th

TTT TBC

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"Difficult to see. Always in motion is the future”
-Yoda

See you same place same time next week!

❤❤❤

Yoda Labs team