Weekly Roundup: GameFi is Priming for Massive Web3 Adoption
Project Nightshade │ Polium │ Algorand
Once again, inflation is going through the roof, copper prices are plummeting, the dollar is stronger than ever before (almost at the same value as the euro!), and that means there’s a lot of uncertainty in the markets. Oh well, that’s what one should expect during a bear market (and a growing global crisis).
But here we are to bring you positive news that will help you to spot unique opportunities during this bearish market cycle. This time, we will focus on how the GameFi sector is priming for massive Web3 adoption.
Cauldron Raises $6.6M to Become the Pixar of Web3
During a bear market cycle, you should put special focus on the projects that keep working and investing in developing their products and meeting the goals of their roadmap. Cauldron is one of them, since they’ve successfully raised $6.6M to launch their first Web3 world, Project Nightshade.
In order to become the “Pixar of Web3”, they will rely on extraordinary storytelling. Of course, this will be coupled up with superb graphics and play-to-earn functionalities.
Cauldron’s CEO, Mark Warrick, states that Project Nightshade will fix a deep problem in the GameFi and Web3 gaming sector: the games don’t bring the users reasons to come back. Sure, making money by playing is a pretty good incentive, but for a game to be successful it needs to be involving and immersive, and so far no Web3 game has achieved it.
Project Nightshade will only be the beginning, because Cauldron wants to conquer the Web3 gaming sector by launching multiple worlds that gamers will fall in love with.
The First Web3 Gaming Console to See the Light (Soon)
Earlier this month, Polium introduced the first multi-chain gaming console for Web3 gaming, Polium One. Nonetheless, it will be available in 2024 for holders and in 2025 for the public.
We don’t have a lot of details about it so far now, but it’s been designed to support 8 blockchains:
Ethereum
BNB
Solana
Polygon
WAX
EOS
Immutable X
Harmony.
It will also feature 4K ULTRA HD capabilities, in order to meet the demands of Web3 games. We’ve already seen what Cauldron wants to do with Project Nightshade, so the Web3 gaming consoles of the future need to host the necessary features.
Since it will launch in 2024-2025, then it means that the company will work on it during the bearish market cycle, and that’s a good sign. It means they actually have a motivation to do it, and therefore, it would be a good idea to observe this company.
Algorand Believes in the Future of GameFi for Web3
Algorand has been known to fully support the Web3 narrative, especially when we talk about music. Nonetheless, they also believe that GameFi will play an important role in the development of Web3.
They state that GameFi puts the matter of interoperability on the table, and thanks to the Web3 GameFi projects, they are actually finding solutions. Because this will be one of the biggest challenges for the development of Web3, to enable full interoperability.
Other sectors such as decentralized cloud and storage also focus on this matter, and it’s only a matter of time for both sectors (GameFi) to work together, to enable a fully decentralized internet.
Furthermore, Algorand states that mass adoption of blockchain tech and Web3 will come thanks to gaming. People love to game, and if there’s money to win, then even better. That’s the perfect combo, but people will need to get educated to use it properly.
All in all, this news is positive because it means that top projects like Algorand - which have important partnerships such as being FIFA’s official blockchain - actually believe that GameFi will be an important building block for Web3.
GameFi Will Be the Future of Web3!
You already know we are in chaotic times, but it’s only a matter of patience for things to pick up again, and when they do, you better be ready for it. This is why I write these newsletters focusing on specific topics + GameFi, to help you discover hidden gems that might perform pretty well during the next bull run.
That’s it for this newsletter, until the next edition!
Additional News
Planetarium Amasses $32M In Series A Funding For NFT Game Expansion
Illuvium Introduces Illuvitars – Your Personalized Avatar for The Metaverse
🙏 Thanks to our sponsor
👉 Creating NFTs on Algorand:
Enduring Value, Environmentally Friendly, Expanding Opportunity
👉 Interested for possible cooperation/sponsorship contact us
⚠️ Disclaimer: Information is for educational purpose and not financial advice
Token Metrics: AI - Driven Crypto Research Platform
⚠️ Disclaimer: This site contains a product affiliate link. We may receive a commission if you sign up after clicking on the link.