This GameFi Weekly Recap is provided solely for informational purposes and does not constitute investment advice. People are still depressed and uncertain, and the market is flat with little significant change. Let’s take a look at on-chain data and some important news with Coincu.
This week, The total transactions of Gamefi are 177,744,103 transactions (down -2.85%) with an average daily transaction of 25,392,015 transactions. Increasing trivial from last week, with the average number of daily transactions in week 29 being 26,137,162 transactions when the market is sideway.
From July 25th to 31th, there were about 547,632 unique users, a decrease of about 2.45% from the number of unique users last week. This index is low and tends to increase further. And the number of new users increased by more than 1.01% with 48,743 users.
Total Users by Game
The top 3 projects this week in terms of the number of participants are Splinterlands (26.69%), StarSharks (6.72%), Bomb Crypto (5.21%).
Top Gainers and Losers
Gamefi Highlight Events
reNFT Raises $5M In Investment Round To Bolster Web3 GameFi
NFT renting protocol reNFT has announced that it has raised $5 million in an investment round which was co-lead by Mechanism and gumi Cryptos Capital (gCC). The round featured heavy participation from strategic investment partners who can add value the reNFT company, as well as gaming guilds that represent millions of gamers across the globe. With this premise in mind, it saw other contributions from the likes of Gemini, The Sandbox, OpenSea, Sfermion, Morningstar Ventures, EveryRealm, OP Crypto, Fourth Revolution Capital, Metastreet and others.
The funds will primarily be used to help reNFT accelerate its onboarding of talent, capture integrations across multiple blockchains, and extend its product suite. Overall, such efforts will have an underlying focus on the blockchain gaming sector, as this area of entertainment is leading the way for creating mass global adoption of NFTs.
Furthermore, with many mainstream NFT marketplaces set to arrive in the coming quarters, reNFT hopes to use its financial backing and talent pool to enhance its turnkey whitelabel solution which allows users to integrate renting, lending and GameFi automation into their own proprietary marketplaces or ecosystems. Ultimately, such a solution will allow users to generate revenue from their assets in a convenient and secure manner.
For more information: click here
Baidu Pushes Deeper into the Metaverse with Virtual Hosts
Despite strong restrictions from Beijing on crypto and Web3, Baidu’s founder Robin Li is taking the next step towards his goal of making Baidu the dominant player in China’s metaverse. Baidu, the Chinese version of Google, is extending its push into virtual reality with the launch of the annual flagship Baidu World 22 Conference, where the Baidu AI Cloud is launching a live stream platform featuring virtual hosts. The hosts will support 24-hour AI-driven live streaming and hyper-realistic virtual avatars.
The company is also unveiling its “mass production” of virtual beings and celebrating its recent breakthrough with its AI algorithm. The company said that all human beings on earth will be able to have “a virtual counterpart”. Baidu’s announcement about creating virtual beings is an example of how the company is using AI to create a new reality. The company has already released several products that use AI technology, including voice assistant Xiaoice, which can answer questions and provide information.
Baidu’s AI technology will help live streamers and the brands that support them to create more engaging and interactive experiences with their audiences. In the era of Web 3.0, audiences are not just passive viewers anymore. They are active participants, meaning that comprehensive user experience is crucial to a firm’s long-lasting success.
Gravity Pivots to Web3 with The Sandbox to Bring Ragnarok to the Metaverse
Popular massively multiplayer online roleplaying game (MMORPG) Ragnarok is coming to the metaverse. Ragnarok creator Gravity has teamed with leading metaverse gaming platform The Sandbox to create an immersive version of the game. In addition, the new metaverse-based Ragnarok will allow users to participate in a Game Jam based on its universe and characters. The Ragnarok IP is Gravity’s top gaming product, serviced both on the web and mobile. It features several games including “Ragnarok M: Eternal Love, Ragnarok Origin, Ragnarok X: Next Generation, Ragnarok V: Returns, and Ragnarok Begins”.
The company also holds rights to online animated series based on the Ragnarok universe and characters. And Cindy Lee, CEO of The Sandbox Korea recognises the popularity of the Ragnarok IP around the world, lauding it as one of the reasons the metaverse company was excited to forge a partnership with Gravity. “Through this partnership, the excitement and joy that Ragnarok brings to players can be adapted in a new way through metaverse content”, she said.
On the other hand, Harry Choi, Business Director of Gravity Business Division commented: “We are preparing diverse content with Ragnarok IP for users to enjoy in the metaverse as well. Stay tuned!”
For more information: click here
Above is the important information in the past week on the GameFi. Crypto winter has arrived, it’s also time to purge projects. Good projects stay and bad projects go. Everything is just beginning.
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DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.