Research Summary
The report provides a comprehensive overview of the latest developments in the gaming metaverse. It highlights key funding rounds, game updates, and new releases. The report also delves into deep-dive analyses of trends in the gaming industry, including the shift towards metagame and monetization over core gameplay, and the challenges faced by Web3 creators. It also features insights on the potential of on-chain gaming and its associated challenges.
Key Takeaways
Funding Highlights
- Shrapnel’s Series A: Shrapnel raised $20m in its Series A round led by Polychain Capital, with an early-access release planned for December and a full launch in 2024.
- HYTOPIA’s Funding Round: HYTOPIA secured $3m in funding led by Delphi Digital / Delphi Ventures, joined by other VCs and angels.
- Merit Circle’s Migration: Merit Circle announced the migration of its MC token to BEAM and began rolling out its gaming platform that aims to bring Web3 gaming technology to the forefront in a player UX-focused way.
Gaming Updates
- Beam’s Drive One OE NFT Mint: Beam introduced Beam Drive One, which displays all the games and products, transactions, accounts, and blocks on the network.
- Champions Ascension’s Early Access: Champions Ascension’s early access alpha playtest is live, featuring taunt emote, premium Gold currency, and tickets for events.
- Illuvium’s Overworld Progress: Illuvium shared their Overworld progress with new features like explored chat SDK, teleportation ability while scanning or extracting, and an option to skip in-game sequences during region travel and heatmap generation.
Deep Dive Analysis
- Shift in Mobile F2P Games: The report reveals that since 2010, mobile F2P games have shifted focus from the MVP approach to metagame and monetization over core gameplay, largely influenced by revenue-leading Asian studios.
- Web3 Game Deals: JACL’s Q3 analysis shows a 33% drop in Web3 game deals and 18% less funding. Despite this, steady funding suggests selective VC investments.
- On-Chain Games: Apix shares his thoughts on why people are building fully on-chain games, highlighting three main drivers: content, community, and economy.
Actionable Insights
- Investigate the Potential of On-Chain Gaming: The report suggests that on-chain gaming offers significant potential for developers and players alike, with players becoming both contributors and creators, enhancing the social and economic aspects of the game.
- Consider the Shift in Mobile F2P Games: Developers should consider the shift in mobile F2P games towards metagame and monetization over core gameplay, as this trend is largely influenced by revenue-leading Asian studios.
- Understand the Challenges for Web3 Creators: Web3 creators face challenges in user acquisition and a tendency to mirror traditional gaming content without harnessing Web3’s unique features. For sustained relevance, they should build strong game ties, carve out niches, ensure quality, capitalize on first-mover benefits, and cultivate a devoted following.
