New concepts are being actively introduced the market as well across major blockchains outside of Ethereum. Star Atlas, a space-themed game on Solana, is seeing a high level of user activity from South Korea, despite the trend that users in Asia are more familiar with blockchains developed in Japan or South Korea, such as Klaytn. Iluvium, for instance, a popular crypto-based RPG game valued at over $5 billion in fully diluted valuation and $432 million market cap, partnered with Deathroad, a metaverse racing game on Binance Smart Chain. Metaverse projects within the crypto space are also actively partnering with one another, creating synergies among communities. Metaverse projects that enable users to create their own digital space are gaining popularity, with long-time projects such as Decentraland and newly emerging players like Nifty Island seeing large community traction. Metaverse-focused funds, like Animoca, are also investing heavily into NFT-related projects and crypto-based games.Īnimoca released the teaser for an NFT sci-fi game called Phantom Galaxies on September 28, with Blowfish. We’re announcing a $50 million investment in global research and program partners to ensure these products are developed responsibly,” Facebook said. We’ll collaborate with policymakers, experts and industry partners to bring this to life. “The metaverse won’t be built overnight by a single company. On September 27, Facebook FB announced that they will be investing $50 million in global metaverse research to develop relevant products. In light of Axie Infinity’s fast growth and the strong trajectory of guilds, major companies are continuing to boost their efforts to fund the metaverse space. Metaverse Fundraising Continues to Heat Up YGG, Avocado Guild, and GuildFi are said to have anywhere between 1,000 to 6,000 scholars. Users that receive NFTs from guilds to play the game without high upfront costs are called scholars. This way, users are able to play games like Axie Infinity without spending significant sums of money in the beginning, and at the same time, support their guilds that provide them with the opportunity to play the game.
Guilds, like YGG, Avocado Guild, and GuildFi, essentially allow users to borrow Axie NFTs to play Axie Infinity, with a revenue share system. The main reason why the user activity of Axie Infinity continues to increase despite the increase in the price of AXS and Axie NFTs is the rise of guilds. Since users need to buy NFTs, like Axies, to play games such as Axie Infinity, one could argue that there is a high barrier of entry. It’s Expensive To Buy NFTs And In-Game Tokens: What’s Driving The Adoption? Axie Infinity statistics and in-game revenue Token Terminal
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