As we finish up with Q2 of 2023 and move towards Q3, we can see that the crypto gaming market is facing its challenges, with three of its top dogs taking a hit over the week.
It’s true that some of the bigger projects might be down, but they’re not out.
Despite some downturns, investment and interest in the Web3 crypto gaming space remain optimistic, with StepN being the first to “step in” to the world of Apple Play blockchain gaming. Cipriani partners with The Sandbox, and OpenFort teases more information about its Web3 gaming wallet.
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This Week in Crypto Gaming News
Let’s cover some of the biggest events this week in crypto gaming news!
StepN Releases First Apple Pay Blockchain Gaming App
StepN is one of the first and foremost members of the M2E scene, being the first “move-to-earn” game to be released on the App Store back in 2021. Continuing with its trend-setting history, StepN is now the first blockchain gaming app to fully integrate with Apple Pay.
In StepN, players earn while they move and can even buy cosmetics for their digital avatars, including sneakers, and collect rewards on the go.
Fully integrated with their device or smartphone, StepN keeps track of your steps and movements while doling out rewards as you do.
While you’re probably not going to be paying the bills from your morning jog or anything, it’s still a fun way to encourage an active lifestyle with a little crypto reward.
Why this matters
- Keeping fit and healthy is an uphill battle for many people, so finding fun and creative ways to reward people for exercise is important
Sandox Partnership with Cipriani
Season 4 of The Sandbox has brought a lot of new goodies, with one of the most notable being the partnership with Italian company Cipriani, world-renowned for its stellar hospitality.
With all new areas to explore, meet, and play, users can enjoy all the famous locations of Cipriani, such as the Cipriani Wall Street Ballroom and Harry’s Bar.
The Sandbox is delighted to offer players the chance to experience Cipriani and the rich virtual environments they create.
Sebastian Borget, Co-Founder of The Sandbox had this to say on the announcement
“We’re delighted to bring iconic Italian history into The Sandbox to further enrich our players’ experiences. In designing a metaverse for such a diverse audience, we have the unique opportunity to represent nationalities and cultures from around the world.”
Why this matters
- Virtual travel could be one of the more interesting developments in virtual space, and partnerships like Cipriani could be trailblazers in this new market.
Openforts New “Frictionless” Gaming Wallet
Openfort has managed to raise $3 million in start-up seed funding to develop its own “frictionless” Web3 gaming wallet.
Openfort is attempting to create a “wallet-as-service” infrastructure that drastically reduces the amount of interaction between players and blockchain. While it’s true that many are finding new and interesting ways to bring blockchain to gaming, there can be issues that are difficult for developers and players alike.
OpenFort is attempting to create a wallet system that is easy to use, creating a” frictionless” experience that can be integrated into browser games and more hardware-intensive PC games.
Why this matters
- Blockchain game development can be developed, so streamlining wallet-to-game systems could be a massive quality-of-life upgrade for players and developers.
Top Crypto Gaming Projects
AXIE saw its value drop from $7.5 on 18/05/23 down to its current resting spot of $6.59 on 24/05/23.
Axie Infinity has a pretty large monthly player count, ranging in the 350,000-390,000 range. However, fears have begun to take shape that as the price of AXE drops, so too does the potential for player profit. This has led to a small but steady slip in player count.
While it’s still a massive game in many countries, often poorer countries, the game right now is a bit too much play and not enough earn.
The Sandbox (SAND)
The Sandbox, another big player on the crypto gaming scene, also saw its native currency, SAND, drop from $0.539 on 19/05/23 to $0.4829 and then to a slight recovery of $0.4865 by 24/05/23.
The SAND token’s current condition is a continuation of what’s been happening since its ATH in 2021, from which there has been a massive drop-off. Generally speaking, the crypto market got hit pretty hard in this time, and the NFT market got hit even harder again.
This ongoing market condition has led to a general drop in NFT gaming liquidity and, therefore, less speculation in assets like SAND.
Decentaland’s MANA, kept with the trend of crypto gaming’s biggest coins, by taking a hit from $0.5216 on 17/05/23 down to $0.4553 by 24/05/23/
MANA is suffering from many of the same market factors that are affecting the entire crypto gaming space, and this has led to a drop in virtual real estate interest.
In many ways, NFT real estate is a key element of MANA’s draw, and as sales plummet, MANA is likely along for the ride.
Top Crypto Gaming Tokens
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