This week, watching the space felt a lot like a seesaw ride, and in this issue, we will unpacks the highs and lows of the week.
Google is Warming Up to NFTs
Binance Splurges 15 Million on a F2P Gaming Startup
Make Up Your Mind Already, SEGA!
Come along!
Read the full issue to find out
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MARKETS
7-Day Market Moves
Image Source: Forkast
NFTs are unimpressed: Despite the recent boost in crypto prices following the Ripple ruling, NFT sales volumes have slid by 1.72% in the last 24 hours, totalling $24.45 million.
Leading the pack of NFT collections is the Bitcoin-based $FRAM BRC-20. With a 0.31% ($2.14 million) growth, the collection makes up more than two-thirds of all Bitcoin network volume.
On Ethereum, BAYC and the Captainz topped the chart in second and third place respectively.
The big-ticket item: BAYC #1734 was sold for 600 ETH ($1.2 million) having been previously purchased for 800 ETH back in January.
In other news, the prolonged crypto winter has forced Dapper Labs, maker of CryptoKitties and NBA Top Shot, to lay off about 12% of its workforce. 🐻📉
In Other News,
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MARKET WATCH
Top Blockchain Games (7 Days)
Source: DappRadar
Top NFT Marketplaces By Sales Volume (7 Days)
Source: DappRadar
Top NFT Collections By Sales Volume
Source: DappRadar
In Other News,
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HEADLINES
Google is Warming Up to NFTs
TL:DR
Google Play Store now allows NFT-incorporated apps and games.
New policies mandate open disclosure of blockchain use and restrict NFT earnings promotion.
Google collaborated with Reddit to encourage responsible blockchain tech use.
Google's stance on blockchain-based apps is changing, contrasting with Apple's restrictive approach.
📣 Google's Play Store is updating its policies to permit apps and games with NFTs. This is a significant shift in Google's previously standoffish relationship with blockchain technology. The new rules now require games using tokenized assets to openly disclose their use of blockchain components. Further, Google has implemented restrictions to prevent overemphasis on potential NFT earnings and banned "loot box" mechanisms, underlining its anti-gambling stance.
To implement this, Google has partnered with Reddit, which recently launched its Avatar NFT. According to Reddit's Senior Engineering Manager Matt Williamson, the policy update aims to build a fair environment, boosting user trust and advocating for the responsible use of blockchain tech.
Google has a messy history with blockchain-based apps. In 2018, it banned crypto mining apps - a ban that remains active today. And in 2021, it kicked out "Bitcoin Blast", a blockchain game, from the Play Store.
However, Google's stance has shown signs of softening. In 2022, it approved the presence of ArDrive Mobile, a decentralized storage app, on its platform and listed Axie Infinity: Origins in select regions.
In 2023, Google Cloud launched an initiative aimed at aiding Web3 developers building on Polygon Protocols. On the other hand, Apple's App Store continues its limited approach, permitting NFTs but constraining their use for content unlocking and alternative payment options, like cryptocurrency.
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TRENDING
Everything Everywhere All At once
The past 24 hours in crypto was a lot!
🔥First, Ripple scored one for the team against the SEC, when a US court ruled that its XRP token is no security, the community broke wild and even Coinbase announced that it would relist the token.
🚨If you thought that you were done seeing crypto bros in cuffs, think again. The feds arrested Celsius’ Mashinsky on some serious criminal charges.
Binance Splurges 15 Million on a F2P Gaming Startup
TL: DR
Binance Labs invests $15 million in Switzerland-based web3 gaming startup Xterio.
Funds will go towards game development, enhancing AI capabilities, and launching new tokens.
Binance confirms completion of the investment round, but no valuation disclosed.
🔔 Binance Labs, Binance’s money-spending arm, has invested $15 million in Xterio, a web3 gaming startup based in Switzerland. Xterio operates in the free-to-play and blockchain gaming space.
The funding is allocated for the development of new games, the integration of advanced AI capabilities for improved interactive experiences, and the launching of new tokens. While the valuation of the deal was not disclosed, a Binance representative confirmed the completion of the investment round.
Yi He, Binance’s co-founder and head of Binance Labs, highlighted the rapid growth of the Xterio ecosystem that combines free-to-play genres with on-chain gaming augmented by AI. The Xterio team, a blend of experienced Web2 professionals and Web3 experts, has attracted Binance's interest in future collaborations to enhance on-chain gaming experiences worldwide.
In other news,
Animoca and frens all chipped in Get Protocol’s $4.5 million raise to build the Ticketmaster for blockchain.
SEGA has refuted recent speculations suggesting it is retreating from blockchain-based gaming. The rumour mill started churning after a Bloomberg interview with Shuji Utsumi, Sega's co-Chief Operating Officer, where it was interpreted that Sega was done with Web 3 games. However, Utsumi stepped forward to clarify that Sega's blockchain strategy had been misunderstood.
Cutting through the confusion, Utsumi pointed to Sega's recent partnership with social media platform Line to develop a blockchain-based game as a clear indication of their continued commitment to blockchain technologies. Utsumi emphasized that despite not being a dedicated Web3 company, Sega sees the adoption of Web3 technologies, such as the blockchain, NFTs, and the metaverse, as integral parts of their growth strategy and means to expand their intellectual property's potential. This integration, he quipped, positioned them as a "Web 2.5" company—situated somewhere in between Web2 and Web3.
As part of their strategy, Sega plans to invest in Web3 projects and license their game titles to trusted blockchain developers. Utsumi illustrated this approach with the partnership between Sega, Double Jump Tokyo, and Oasys to develop the popular Sega arcade title Sangokushi Taisen—Three Kingdoms—into a blockchain-based game. Moreover, Sega is eyeing the Asian market for the introduction of their blockchain ventures, acknowledging the region's more favourable perception of blockchain technology in gaming.
Cool Cats Group, together with the game developer nWayPlay have announced a plan to develop a Web3 game. The game set to be released between late 2023 and early 2024
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