blockchain games
Web3 gaming adoption is driven by platforms like Telegram
Published
1 day agoon
By
adminA recent report commissioned by Elympics, a Web3 gaming protocol, highlighted how Telegram and blockchain technology have transformed the gaming world.
The research report, shared with crypto.news and based on feedback from nearly 1,000 global gamers, shows how platforms like Telegram and the rise of “compete-to-earn” games are driving the adoption of Web3 gaming.
The success of Telegram as a gaming platform was evident in the survey results, with 53.56% of players choosing it as their preferred platform for playing mobile games. This highlights Telegram’s growing influence in the gaming space and its ability to attract a large, engaged player base.
Most respondents, 78.77%, reported playing games daily, while 15.19% indicated they play a few days a week.
With the rise of competitive gaming, the report delved into the impact of blockchain games and their community-driven advances on the gaming industry.
“Our research shows that with the entry of social platforms such as Telegram into the Web3 world and the skill games growth with community-driven money competitions, we are seeing the start of mass adoption by players around worldwide. Gamers enjoy winning through competition so we build games meeting this need.”
Tom Kopera, COO of Elympics
Traditionally, games have been centralized, meaning a company controls the game’s development, design, and rules. In blockchain games, the power is more decentralized—players have more control, and they can own in-game assets that can’t be easily tampered with.
“Blockchain decentralizes the ownership, turning players into investors of time and money into their beloved games.”
Stan Fiedor, General Manager Europe of Wemix
This ownership includes everything from virtual items to characters to NFTs, which are stored on a blockchain and can even be traded outside of the game.
Mass adoption of blockchain games
One of the major points in the report is how these new games can transform mobile gaming. Blockchain-based mobile games offer players the chance to monetize their skills and gameplay, turning a previously passive activity into one with financial rewards.
The report noted that blockchain gaming is on the verge of mass adoption, with “a growing interest from gamers eager to participate,” according to Michał Dąbrowski, CEO of Elympics.
However, the report noted that Web3 gaming is still overcoming skepticism due to the flaws of its earlier versions. Initial blockchain games faced issues like poor design and broken in-game economies.
According to the survey, the most common reason for not playing blockchain games is uncertainty about how to get started, with 32.11% of respondents citing that they “have no idea how to start.”
Today, the industry has learned from some of these mistakes, with developers focusing on creating better games with solid economic models that encourage fair play and real ownership of digital assets. Elympics believes that, by adding real-world stakes to gaming, Web3 could be the next big shift in the industry.
TON and Telegram
TON (TON) and Telegram have embraced blockchain to drive engagement and revenue without compromising user trust, the report noted. TON has become a popular hub for hyper-casual games like Notcoin (NOT) and Hamster Kombat, attracting millions of users.
Telegram’s simplified crypto wallet, automatically integrated for non-US users, eliminates barriers to entry, helping onboard millions of real users effortlessly.
Blockchain games on TON appeal to both casual and competitive gamers, offering a seamless experience that feels no different from traditional Web2 games.
The report concluded that platforms like Telegram are helping to bridge the gap between Web2 and Web3, creating an ecosystem where players may not even realize they are engaging with blockchain technology.
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Blockchain
SBI Holdings embraces blockchain gaming, invests in Oasys
Published
3 weeks agoon
September 1, 2024By
adminThe latest deal in the blockchain space will mesh old-school finance with next-generation gaming.
SBI backs Oasys
SBI Holdings Inc., founded in 1999, is touted as one of the largest financial conglomerates in Japan. It specializes in traditional finance (aka tradfi), including asset management and venture capital.
Over the past few years, the firm started integrating blockchain technology into its services. It even developed its own cryptocurrency exchange called SBI VC Trade.
As of Aug. 29, a new segment is being added to its portfolio via a partnership with the Oasys blockchain network: gaming.
The Tokyo-based firm invested an undisclosed amount in Oasys, promising to enhance “synergies” with the game tokens on the blockchain.
“From its inception, [Oasys] has included several globally renowned major game development companies as initial validators,” SBI CEO Yoshitaka Kitao said in a blog post confirming the deal.
Earlier in the year, SBI and Oasys had partnered on an NFT initiative. But it’s worth noting that NFTs, or non-fungible tokens, are plummeting in value.
In contrast, Oasys shows more promise by making inroads with video game companies. After all, the Oasys network is affiliated with household names like Sega and Ubisoft.
In February, Oasys partnered with Com2uS to integrate several game franchises, including ‘Summoners War: Chronicle’ and ‘The Walking Dead: All Stars,’ onto its network.
Since 2021, Singapore-based Oasys raised about $20 million throughout three funding rounds.
In addition to SBI, Hyperithm — a Tokyo- and Seoul-based digital asset financial service provider backed by Coinbase, Samsung, Kakao and Hashed — also invested an undisclosed amount.
Tradfi’s new territory
This isn’t the first time SBI has expressed interest in digital tokens or blockchain technology.
In 2016, SBI created a new company called SBI Ripple Asia, which expanded the use of Ripple (XRP) products throughout China, Korea, Japan and Taiwan. It was also a part of the consortium that launched the R3 blockchain initiative.
And SBI is just one of several old-school finance firms dipping their toes in the burgeoning sector.
JPMorgan Chase remains committed to expanding its Onyx segment, hoping to further integrate blockchain into mainstream financial services. And BlackRock, along with Fidelity, began offering cryptocurrency exposure to clients, including Bitcoin ETFs and digital asset funds.
These moves reflect a broader trend of institutional adoption, driven by the bet that blockchain can enhance transparency, security, and efficiency in financial services.
SBI’s Oasys investment, however, is unique in that video games play a prominent role in the partnership.
According to Deloitte’s 2024 banking outlook report, blockchain-based and fiat currency-backed stablecoins are “entering the world of consumer payments.”
As tradfi continues to merge with the world of crypto and blockchain, the line between traditional and digital finance is becoming increasingly blurred, paving the way for a more interconnected and innovative financial system.
By investing in Oasys, SBI Holdings is seemingly looking to stay ahead of the curve.
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Airdrop
DOGS pre-market price hints at $550 million FDV on launch: Bitget
Published
1 month agoon
August 19, 2024By
adminBefore the DOGS listing on Aug. 23, Bitget recorded over $4 million in pre-marketing trading for the Telegram-based TON memecoin.
Pre-marketing trading is becoming increasingly popular in the crypto space. Platforms list derivatives of yet-to-launch tokens, allowing speculative investors to trade ahead of the main listing. DOGS has enjoyed similar hype, with several platforms like Bitget, KuCoin, and Gate launching pre-market products for the coin.
Volumes nearly surpassed $4 million in Tether (USDT) on Bitget alone, a Bitget representative told crypto.news via email on Aug. 19. Many believe the token may instantly achieve a $550 million fully diluted valuation at launch. On Bitget’s pre-market facility and other venues, DOGS traded for less than a cent and around $0.001.
Meanwhile, BinanceDog On Sol (DOGS) defied a broad market dip, surging over 60% as airdrop activity spiked. The coin should not be confused with the TON-based DOGS.
Over 6m verified DOGS users claim 30% of 440b airdrop
According to the DOGS community on Telegram, more than six million verified mini-app users have requested to receive the airdrop via supported exchanges. Telegram’s in-built wallet app is primarily focused on The Open Network (TON).
Claimants have until 6 pm UTC on Aug. 21 to queue for airdrop deposits on exchanges and the Telegram Wallet. DOGS has set an 8 am UTC deadline on Aug. 23 for non-custodial wallet claims, with the token scheduled to be listed by noon UTC on the same day.
DOGS is a mini-app token inspired by Spotty, a mascot created by Telegram founder Pavel Durov. The project launched last month and has gathered over 53 million users, of which 42.2 million are eligible for the airdrop.
Just shy of 82% of the 550 billion DOGS token supply was allocated to users, with 10% earmarked for the team and future updates. A 12-month lockup period means the project can’t liquidate tokens until August 2025. Additionally, 8.5% was reserved for liquidity purposes.
DOGS is one of many TON-powered Telegram mini-games making waves in the web3 industry. Projects like Notcoin (NOT) distributed billions to early users, and other teams like Hamster Kombat have vowed to deliver “the largest airdrop in crypto history.”
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