GameFi Latest News
This indicator broadcasts the latest news about GameFi in real time.
STEPN Announced APE Sneaker Raffle
KingData News: On June 27, Move to Earn app STEPN recently announced that 2,000 people who performed Sneaker Enhancement will be selected to win APE Sneakers. Users who already qualified for APE Sneakers by Double-Enhancing successfully are excluded. The Raffle Rules are as follows: 1. This lasts until 24 hrs before the opening day of realm 3 2. Each account can win a maximum of one APE Sneaker 3. Buying Enhanced Sneakers will not qualify you for the raffle 4. Selling Enhanced Sneakers you created will still qualify you for the raffle
Axie Infinity: Lane Staking Expected to Launch on Ronin Between June 23 and 28
KingData News: On June 21, Axie Infinity officials said on social media that Ronin Bridge will be deployed between June 23 and 28. Lane Staking is currently being tested and optimized on the test network. Axie Infinity plans to launch Land Staking once the Ronin bridge has been deployed.
Gaming DAO Merit Circle, YGG ‘Terminate Relationship’
KingData News: Members of Merit Circle voted to terminate their relationship with Yield Guild Games (YGG), buying out the guild's 175,000 USDC ($175,000) investment in the play-to-earn gaming decentralized autonomous organization (DAO) for 1.75 million USDC. YGG and Merit Circle offer play-to-earn gamers so-called scholarships. Gamers, almost always in developing countries, borrow the non-fungible token (NFT) that serves as the entrance fee for the game. As part of the deal, the gamers remit yield back to the NFT’s owners as they play. “Collaboratively, Merit Circle Ltd and Yield Guild Games came to an agreement,” YGG wrote in a Medium post. “The proposed solution terminates the formal relationship between the Merit Circle DAO and Yield Guild Games. This space would not be where it is today without Yield Guild Games, and not without the Merit Circle DAO.” (CoinDesk)
STEPN Posted Action Plan for Game Economy KingData News: STEPN has released an action plan for game economy on its official website. In response to the cross-realm energy bridge relevant issues, STEPN has proposed the following measures: 1. Each new realm introduced will allow a maximum of 3 energy to be gained through other existing realms. 2. Each existing realm that you own a sneaker in, will provide 1 additional energy in the new realm. 3. The additional energy gained in the new realm will be capped at 3 in the first month, will decrease to 2 in the 2nd month and finally 1 in the 3rd month. From the 4th month onwards, no additional energy will be attainable in the new realm from this arrangement. As for the problem of (no-exercising) pure mint-and-sell activities, the team plans to: 1. The players who actually use the app will have a chance of obtaining minting scrolls from Mystery Boxes (MB). The qualities of MB will be increased from 5 to 10. 2. The cooldown duration of minting will be lengthened from 48 hours to 72 hours, with slightly increased cost of minting, which allows the market to have more time to integrate the production of new sneakers. Dynamic minting cost problem will be solved by introducing a constant GST minting cost. STEPN will also upgrade the recycling mechanism of sneakers and gems, by enlarging the attribute value of new shoes and allowing users to engrave a sentence on sneakers.
Play-To-Earn Game Axie Infinity’s Revenue Continues to Slide KingData News: The blockchain-based game Axie Infinity brought in only $988,400 in revenue last week — the first week the play-to-earn (P2E) game has clocked less than $1 million since February of 2021. At its peak, the game accrued over $215 million during the week of August 8, 2021. In October of that year, Axie's creator Sky Mavis had even reached a $3 billion valuation after a $152 million funding round led by a16z. (The Block)
STEPN Issued "Reflection on Game System" KingData News: STEPN official has posted an reflection on game system on June 3rd, outlining numerous issues since the recent opening of the BSC realm on the 30th of April and promising to announce solutions for all problems mentioned in 5 days. According to the report, the problems include: 1. The cross-realm energy bridge brings about windfall profits and consequently quick exploitation of the BSC realm. 2. The pure mint-and-sell activities hinder the expected experience of the product. 3. The edge cases of dynamic mint cost are not being insufficiently considered. 4. The lack of self-adjusting mechanisms for the sneakers and gems, and the inflation of these assets.
'Move-to-Earn' Game STEPN Hit With DDOS Attacks KingData News: STEPN, the 'Move-to-Earn' Game on Solana chain, announces on June 5 that it has been under several DDOS attacks. "Securing the servers and recovery may take anywhere from 1 to 12 hours. We recommend you take some rest during the maintenance or otherwise the work-outs may not be recorded properly." The engineers are still fixing the problems as of now, and no new upate is posted on its twitter webpage.
Axie Infinity Will Deploy Updates to Origin Today KingData News: Axie Infinity, the official P2E chain game, has announced that it will deploy updates to Origin on May 27th at 3:00 a.m EST. The game will be down until the updates are complete. The updates include a balance patch, user interface improvements, login via QR code, and more.
STEPN Team: The Reason for Clearing Users in Mainland China Is That Its Technical Team Is Located in Mainland China KingData News: STEPN team said on Twitter Space on May 27 that the reason for clearing users in mainland China is that its technical team is located in mainland China and the company needs to comply with local regulatory policies. The team will continue to focus on the product rather than Token prices in the future. It's worth noting that despite the official emphasis on Western users, Chinese users are still its main focus, with China ranking second in Google Trends' search for STEPN.
STEPN to Bar Gameplay in China, Sending 'Move-to-Earn' Token GMT Spiraling KingData News: Solana-based “move-to-earn” game STEPN will effectively bar gameplay in China in mid-July, the company announced Thursday, sending its GMT token spiraling as the markets digested the news. STEPN said it will stop providing GPS services to users whose IP address or GPS location shows them in China on July 15. Without GPS services, players who own its membership-like shoe non-fungible token (NFT) will not be able to earn tokens for their steps. The price of GMT was down 34% in the last 24 hours, according to CoinGecko. Stepn NFT shoes were trading around 8.5 SOL on Magic Eden at press time, 3.5 SOL below Wednesday's price. “STEPN has always attached great importance to compliance obligations and always strictly abides by the relevant requirements of local regulatory agencies,” the company said in a tweet, without citing a specific policy. It further stated that Stepn has never engaged in business in China. (CoinDesk)
Investors Poured $2.5B Into Crypto Games in Q1 2022 KingData News: A new report by DappRadar and the Blockchain Game Alliance (BGA) suggests that 2022 will be a benchmark year for crypto games developers.The report reveals that $2.5 billion in investments was raised in Q1 alone this year, adding that developers could see this figure balloon to $10 billion by the end of the year. Compared to previous years, these figures also suggest the niche has become a key sector for investors. In 2021, for example, just $4 billion was raised throughout the whole year.
STEPN Announced That GMT Buy Back (~ $1 million) and Burn Has Started STEPN announced that GMT buy back and burn has started, and the team plans to buy 10,000 SOL (~$ 1 million) worth of GMT every day until the fund run out ( ~ $ 26 million). According to STEPN, in the first quarter of 2022, it earned 198,635.62 SOL (~ $26,815,807.35) from in-app NFT transaction royalties (4%) and fees (2%). The total transaction volume is approximately 3,310,593.67 SOL (~ $446 million). Meanwhile, the team announced that they would use the profits to buy back GMT from the secondary market and burn. The whole process can take up to a month to complete to avoid wild swings.
ForthBox Establishes Strategic Partnership With YGG SEA KingData learned that ForthBox has entered into a strategic partnership with YGG SEA and signed a $650,000 contract to purchase NFTs for games on the ForthBox platform. YGG SEA is the first regional sub-DAO of Yield Guild Games (YGG), which has already attracted more than 5,000 game guild members from all over the world. ForthBox is a Web3.0 game aggregator that will launch 15 self-hosted games to build the platform's chain game ecosystem, with the first game, Space War, launched in mid-January and the second tower defense game scheduled to launch this month. So far, ForthBox has attracted users from more than ten countries, such as Korea, Japan and the Philippines, and the average daily number of Dapp visitors is over 2 million.YGG SEA will purchase a total of 1500 game NFTs of the very first blockchain game Space War launched by the ForthBox platform, in batches, with a total value of $650,000. YGG SEA will invite its guild members to participate in the game and promote ForthBox in 8 Southeast Asian countries and regions.
DeVerse Is To Launch On Polygon Mainnet KingData learned that DeHorizon, the metaverse game ecology, announced that DeVerse will be released on Polygon's main site. DeHorizon will work with Polygon Studios on technical solutions, game distribution, asset expansion, industry resources, branding and other aspects to facilitate the rapid development and launch of DeVerse. In addition, the redemption program De-Swap Travel will soon be available on the site, where BSC-based DeVerse NFT asset holders will be able to redeem Polygon-based NFTs, including Numen (SSR, SR) and props (Pre-mining Pass, Galaxy Cube, Magic Cube, insider vouchers, etc.)
Revoland, huawei's first cloud-based P2E game, will be officially launched in April According to KingData Learned , Revoland, huawei's first cloud-based P2E game, will launch in April, Revoland is a blockchain-based multiplayer online Battle Arena(MOBA) game that engages players with a play-to-earn model where players can rally their friends to form teams, fight each other and Earn tokens for their skills.