Monthly Recap

Enough about FTX, I’m off to the Metaverse.

Yes, it has been a pretty miserable month for the crypto space following the collapse of FTX and BlockFi. That said, it’s business as usual in the GameFi space and the Metaverse just keeps on BUIDLing.

Let’s check out what’s happening this week.

From Yoda Labs with love.

Blockchain gaming News?

• Web3 gaming remains the sector that will drive mass adoption of blockchain technology globally due to its impact on gaming experience.

• $1.3+ billion of fundraising has been raised in the Web3 gaming space in Q3 alone.

• Baby Shark, the most viewed Youtube video, with over 11 billion views is swimming into blockchain, with a new game that supports NFTs.

• Baobab Studios, the nine-time Emmy award-winning studio, has announced the launch of its new franchise – Monoguro which is guided by ImmutableX.

• Gary Vee’s NFT startup, with a former valuation of $1.5 billion, has laid off a third of its 100-person team.

• Web3 DAO, Game7 plans to launch $100 million in funds to increase blockchain gaming.

• Powerhouse VC firm, Andreessen Horowitz, has provided Roboto Games – a game studio that bridges Web2 experience and Web3 in game elements – with $15 million in seed funding.

• Fenix Games raises $150 million to invest in blockchain gaming technology.

• Crown Ribbon is Shaking Up the $300B Horse Racing Industry With NFTs

• Farcana blockchain hosted their first gameplay trial in Dubai bringing Web3 gamers from across the world to give feedback on their much anticipated game.

• Glip, a Web3 game discovery app, raised an additional $2.5 million in funding in addition to reaching 7 million downloads.

• After recently raising $200 million, Limit Break will spend $6.5 million during the Super Bowl to air a commercial for its first NFT game.

• Industry UAWs reveal solid interest in Web3 Gaming, via DappRadar

Exploring the Metaverse

• ​​Sandbox offers 1,900 parcels of new land in the metaverse with opportunities to become digital neighbors of popular names like Snoop Dog and Tony Hawk.

• Web3 gaming monster, Animoca Brands, is planning to launch a $2 billion metaverse fund. Animoca plans to make their first investment in early 2023.

• Metaverse makes a name for itself as a new frontier for passive income as opportunities arise, including advertising, virtual games, secondary market royalties, leasing of assets, and renting of metaverse land.

• Sports and entertainment NFT startup, Candy Digital lays off staff while bear market woes increase pressure on startups.

• Meta CEO Mark Zuckerberg is still hopeful about the company’s Metaverse plans regardless of the billions of dollars it’s sucking up from the company, claiming “someone has to build that.”

• Yuga Labs has been hit with more legal challenges this week, as a consumer rights firm takes aim at the NFT and Metaverse project. Already, the company is under the very sizeable eye of the US Securities and Exchange Commission.

• Music fans and game fans enjoyed performances, min-games, and a PvP competition as CronosVerse hosted one of the first Cronos Chain metaverse parties on 19 November.

• Carrie Verse, which mirrors real-world content on its social gaming platform, partners with NFTb for expansion into NFT space.

• Top professional services firm, Deloitte, estimates that the Metaverse could be worth $13 trillion by 2030.

• Top Goal partners with Binance to develop a football metaverse where sports fans can trade club based jerseys and fan tokens.

Funding in the Web3 Gaming and Metaverse Space

• Forte raises $720M in series B lead by Animoca Brands which qualifes for the biggest web3 gaming raise of the month

• Fantasy sports game Sorare has been going viral and successfully raised $680M in series B from 9 investors

• Mythical Games completes series C in november with $150M raise.

• Blockchain gaming group, Animoca, announces plans to launch a metaverse fund with up to $2B.

• Web3 gaming DAO, Game7 launches a $100M grant program to fund growth of blockchain-enabled games

• Burn Ghost raises $3.1M with the help of DraftKings and Bitkraft Ventures who co-led the seed round for the firm.

• Onomy Protocol closed on a $10 million seed investment in hopes of recarchitecting the Web3 user experience.

• Fenix Games reveals plans to invest in next-generation blockchain gaming and acquire Web2 games after raising $150M

• Roboto Games, which is working on a survival game that supports NFT ownership, closed a $15M funding round led by Andreessen Horowitz (a16z)

• Eterlast, committed to evolution of sports entertainment, raises $4.5M from Immutable and Stake Capital

We would love to continue the discussion with our subscribers! Follow us on Twitter to stay up to date with the latest news and announcements!