Crypto Gaming Round-up #2
In our second round-up (read the first one here), we cover the developments in crypto gaming for the week of January 24th.
RON token goes live
Sky Mavis, the gaming studio behind Axie Infinity, launched its Ronin sidechain last year. Last week, the chain’s native token, RON, went live after a roughly 90-day farming period for liquidity providers on the Katana DEX.
RON will be used to pay transaction fees on the Ronin sidechain. Those users with Axies or Land in their accounts will receive some free transactions (details here). According to CryptoSlam, Ronin has the second-highest all-time NFT sales volume, although the recent activity has dropped off somewhat (monthly volume down 32% w-o-w and over 90% from ATH).
The token distribution can be found in the litepaper. There’s a significant allocation for the community and the ecosystem fund to support third-party developers building applications on Ronin. In fact, Scatter, Ronin’s first app, launched last week. The issuance will continue for a while, 294 months to be exact, with a quarterly reduction in the inflation rate. You can earn RON by providing liquidity to SLP/WETH, AXS/WETH or RON/WETH pools on Katana.
Bridgeworld and the Treasure ecosystem
A lot is happening in the Treasure ecosystem. We probably need an expert to cover this space. Last week, the Bridgeworld went live, and the Atlas Mine opened for staking $MAGIC. To stake $MAGIC, users need to lock it for a period of time ranging from 2 weeks to 1 year.
“Staked $magic will receive 33% of crafting and summoning costs, @TroveByTreasure
and Treasure Marketplace royalties, ETH and MAGIC respectively.”
The team also released the whitepaper for their marketplace, although it looks a bit more like a litepaper.
BreederDAO raises $10m in a Series A round
BreederDAO raised $10m in a funding round led by a16z and Delphi Digital. BreederDAO aims to produce, or breed, as the name suggests, assets for the play-to-earn ecosystem at scale. Its stated goal is to equip “the next billion players of the blockchain gaming industry and helping player guilds to generate a continuous loop of participation in the most efficient way possible.” The team will build custom tools and rely on data analytics to mass-produce high-quality gaming assets.
Launch of the Echelon Prime Foundation
As far as we understand it, Echelon Prime Foundation is focused on creating an interoperable gaming ecosystem with play-to-earn mechanics. The main idea is to provide tooling and infrastructure for gaming projects to build within the Echelon environment. The projects are then incentivised to share IP and make their assets interoperable. The ecosystem will be powered by the PRIME token and governed by an 11-member governance unit representing the community.
Naavik releases a deep-dive into the Sandbox
If you are interested in crypto gaming, you undoubtedly saw Naavik’s report on Axie Infinity a few months ago, questioning its sustainability in the short and long term. They dive into the Sandbox this time, analysing the player base, decentralisation claims, censorship, distribution funnel, etc. We at MetaPotal, have been talking quite a bit about valuations for some of the gaming projects, including Sandbox. This report and the following thread add a lot of substance to our concerns over valuations.
Other news
DeFi Land NFT Seed sale details announced
Revomon, a VR collectible game, introduces burn-to-earn feature
Dvision, a VR real estate project, launches a second LAND NFT sale
Elite gaming guild Perion DAO will reward top 100 of its Axie scholars with exclusive NFTs. The IDO is live btw.
Thread on keeping a 100% stamina regen rate while questing with miners in @DeFiKingdoms
Gala Games launches the venue sale for Legends Reborn
Cornucopias introduces COPIWatch, a newsletter for its ecosystem