The Web3 gaming sector is all but dead, with $11 billion of the more than $12 billion deployed from 2020 to 2026 “practically gone.” That’s according to market-making and trading firm Caladan, which said in a April 22 report that 93% of all GameFi projects are “effectively dead.” The average gaming token is down 95% from its all-time high. And even Animoica Brands, the biggest player in the Web3 gaming space, has reduced gaming from its core thesis to 25% of its portfolio, pivoting to stablecoins, Caladan said. “The funding arc tells the story,” the report said. “From $70 million in 2020 to a $4 billion peak in 2022, then…
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NFTs are Overhyped
Why the vast majority of NFT projects are a complete waste of money
What is an NFT and why do they matter? NFT is a term that has been appearing all over social media and the news in the last few months. An NFT is a Non-fungible token, stored on a blockchain, which is essentially a digital ledger. NFTs function similarly to a cryptocurrency like Ethereum or Bitcoin. The major difference between interchangeable tokens like Ethereum and an NFT is that each NFT is uniquely different, hence the word non-fungible. An NFT can be a digital picture, song, file, and much more. Ownership of an NFT does not confer copyright or the ability to use legal action. Instead, it is more of a…
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Mastercard Accepting Crypto Payments
A Look Into Cryptocurrency in The Asia-Pacific Region
On November 8, 2021, Mastercard made an important announcement regarding their payment systems in the Asia-Pacific region. Because of the company’s partnerships with Amber Group, Coinjar, and Bitkub, anyone in the region will now be able to apply for a crypto-linked Mastercard. This will allow users to instantly convert their cryptocurrency into fiat dollars which they can spend wherever you can use a normal card. This doesn’t mean that people will be paying for their purchases in Bitcoin (BTC) or other coins, but instead Mastercard does an instant transfer from crypto to fiat. This allows for buyers to use the card at any merchant that accepts normal cards, which gives…
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Forte’s $100 million Ripple-backed fund draws top developers at GDC, says COO Wakeford in interview
Why the future of gaming could lie in the cloud and on the blockchain
Forte Labs, the latest venture from Kabam founder Kevin Chou and former Kabam COO Kent Wakeford, had an overwhelming response at the Game Developers Conference (GDC) in San Francisco this past week. This comes on the heels of announcing its brand new $100 million fund backed by Ripple that will enable traditional games to add key blockchain features.
