Ethereum News Daily Official TheBitTimes.com

Out of more than 1,300 blockchain games that have been announced since 2021, over 400 are now discontinued or canned. According to data compiled by BlockchainGamer.biz, out of a total of 1,318 blockchain-based games that have been in circulation since 2021, approximately 407, or over 30%, are currently designated as either discontinued or abandoned. As of the latest update in January, the media outlet’s list comprises 911 blockchain-based games, with 334 actively live and 577 in various stages of development. The primary reasons cited for the cancellation of blockchain -based games were mainly tied to funding challenges and evolving market conditions. However, a majority of the discontinued projects were also characterized as smaller initiatives led by less experienced and under-capitalized teams. Moreover, in most instances, developers chose not to make any formal announcements at all and simply ceased operations without prior notice, the report notes. Abandoned block...

The creators of the popular NFT game Axie Infinity announced a partnership with NFT collection CyberKongz to migrate the Play & Kollect game to Ronin. In this week’s newsletter, read about how Reddit onboarded millions into Web3 through its nonfungible token (NFT) avatars, and check out McDonald’s first metaverse experience in The Sandbox. Find out why professional gamers are interested in trying out Web3 games, and why Axie Infinity creator Sky Mavis is partnering with NFT collection CyberKongz to develop a new game. And don’t forget this week’s Nifty News, featuring an NFT image of Ethereum co-founder Vitalik Buterin. Reddit engineer shares strategy behind NFT onboarding at EthCC At the recent Ethereum Community Conference (EthCC) event, Reddit’s senior engineer Mirela Spasova shared how the online forum platform onboarded millions to its NFT avatars. Spasova highlighted that the motivation behind the project was empowering users with freedom of use. By making the collectible p...

Cointelegraph team was on the ground in New York to bring exclusive insights from the NFT event. The Play-to-Earn (P2E) business model may not be dead, but game publishers and developers are exploring alternatives to replace it, according to a panel at the NFT.NYC 2023. Cointelegraph team was on the ground in New York to bring exclusive insights from the NFT event.  According to the CEO of gaming platform OP Games, Chase Freo, companies that branded themselves as P2E are shifting their strategy amid the crypto prices downturn. "It's a model that is not sustainable at all," he noted, citing Axie Infinity's shift in some of its flagship titles as an example. From left: Chase Freo, Minoru Yanai, Paul Flanagan, and Paul-David Oosthuizen at the NFT.NYC 2023. Source: Cointelegraph Minoru Yanai from Minto, a Japanese manga and anime design company, said that game companies are now "looking at play and fun, and sometimes earn or swap," adding that players can stil...

While trying to wrap his CryptoPunk to borrow money, an NFT investor accidentally sent the asset to a burning address, permanently removing it from circulation. In this week’s newsletter, read about Sony filing a patent for a nonfungible token (NFT) framework for games, and how executives believe that Grand Theft Auto (GTA) and Minecraft developers may change their minds on blockchain technology. Learn how an NFT collector accidentally burned a CryptoPunk worth $135,000 while trying to borrow funds, and find out about Disney reportedly sacking its metaverse division. In other news, His Majesty’s Treasury in the United Kingdom has dropped the Royal Mint NFT project.  Sony eyes NFT transfers across multiple game platforms, reveals patent Sony has recently filed a patent for an NFT transfer framework across multiple game platforms. This new addition to Sony’s preparations to enter crypto integrates NFTs into gameplay. With this, NFTs can become skins or other in-game functions and items....